Duke Realty Corporation Announces Development of 460,000-Square Foot Outpatient Cancer Treatment Center for Baylor University

INDIANAPOLIS, IN--(Marketwire - May 14, 2009) - Duke Realty Corporation (NYSE: DRE), an owner, manager and developer of industrial, office and healthcare properties throughout the United States, announced today that it has commenced the development of the new Baylor Cancer Center, a 460,000-square foot, $154 million outpatient cancer treatment center at Baylor University Medical Center at Dallas. Baylor University Medical Center at Dallas is a nationally recognized not-for-profit hospital that cares for more than 300,000 people each year and has over 1,000 licensed beds.

The project will be owned by a newly created joint venture between Duke and Northwestern Mutual with the majority of the venture owned by Northwestern Mutual. Duke will receive development and leasing fees during development and construction. BremnerDuke Healthcare Real Estate, a division of Duke Realty Corporation, will manage the asset following completion.

When completed, the Baylor Cancer Center is expected to receive LEED® silver certification and will be among the premier cancer centers in the nation. The 10-story facility will include cancer treatment services, clinical and physician space, oncology research, conference facilities and underground parking for 250 cars. The project is 93 percent pre-leased to Baylor Health Care System, and US Oncology, Inc., one of the nation's leading oncology services companies.

"Duke is extremely proud of this transaction and our ability to perform under the current market conditions. The relationship with Baylor continues to grow, as this is the fourth project we have started for Baylor in the past 18 months. We are honored by the trust and confidence they have placed in us," said Dennis D. Oklak, chairman and chief executive officer of Duke.

"The Baylor Cancer Center illustrates our commitment to healthcare development and ownership as crucial elements of the company's long-term growth strategy." Oklak continued, "Northwestern Mutual's decision to form a joint venture with us indicates the long-term potential of the project and the healthcare expertise of BremnerDuke."

BremnerDuke Healthcare Real Estate began its relationship with Baylor in 2007. In addition to the Baylor Cancer Center, BremnerDuke is developing a 141,000-square foot seven-story medical office building at Baylor Regional Medical Center at Plano (Texas), a three-story, 81,400-square foot professional office building for Baylor Heath Care System on the campus of Baylor University Medical Center at Dallas, and an orthopedic hospital in Arlington, Texas for a joint venture of which Baylor Healthcare System is a major owner.

Savills LLC, the real estate banking firm headquartered in New York City with affiliated offices throughout Europe and Asia, represented Duke in the formation of the Baylor Cancer Center joint venture.

About Duke Realty Corporation

Duke Realty Corporation specializes in the ownership, management and development of office, industrial, and healthcare real estate. The company owns, maintains an interest in or has under development approximately 135 million rentable square feet in 21 U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke is available at www.dukerealty.com.

About BremnerDuke Healthcare

A division of Duke Realty Corporation, BremnerDuke Healthcare Real Estate supports hospitals and physician groups with planning, development and compliance-driven facility management services. BremnerDuke has been building healthcare for more than 20 years, from small medical office buildings to complete healthcare facilities with diagnostics, oncology centers and surgery centers; to full-service, in-patient hospitals. BremnerDuke has received preferred developer status from 12 of the 14 largest hospital systems in the United States. More information about BremnerDuke is available at www.bremnerduke.com.

Cautionary Notice Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical facts, including, among others, statements regarding the company's future financial position, projected financing sources, future transactions with joint venture partners, future dividends, and future performance, are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of the company, members of its management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should," or similar expressions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that actual results may differ materially from those contemplated by such forward-looking statements. Many of these factors are beyond the companies' abilities to control or predict. Such factors include, but are not limited to, (i) general adverse economic and local real estate conditions, including the current economic recession; (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business; (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms, if at all; (iv) the company's ability to raise capital by selling its assets; (v) changes in governmental laws and regulations; (vi) the level and volatility of interest rates and foreign currency exchange rates; (vii) valuation of joint venture investments, (viii) valuation of marketable securities and other investments; (ix) increases in operating costs; (x) changes in the dividend policy for the company's common stock; (xi) the reduction in the company's income in the event of multiple lease terminations by tenants; and (xii) impairment charges. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the company's filings with the Securities and Exchange Commission. The company refers you to the section entitled "Risk Factors" contained in the company's Annual Report on Form 10-K for the year ended December 31, 2008. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The risks included here are not exhaustive and undue reliance should not be placed on any forward-looking statements, which are based on current expectations. All written and oral forward-looking statements attributable to the company, its management, or persons acting on their behalf are qualified in their entirety by these cautionary statements. Further, forward-looking statements speak only as of the date they are made, and the company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time unless otherwise required by law.

Contact Information: Contact Information: Investors: Shona Bedwell 317.808.6169 shona.bedwell@dukerealty.com Randy Henry 317.808.6060 randy.henry@dukerealty.com Media: Joel Reuter 317.808.6137 joel.reuter@dukerealty.com