RPB Republic Property Tr

Republic Property Trust (�Republic�) (NYSE: RPB) announced today that it has expanded iDirect, Inc. (�iDirect�) at Presidents Park I for approximately 18,000 square feet (�Expansion Space�). iDirect already occupies approximately 43,000 square feet at Presidents Park II. Republic anticipates that iDirect will occupy 11,000 square feet of the Expansion Space in September 2007 and the balance of the Expansion Space in June 2008. The Expansion Space is coterminous with iDirect�s existing lease at Presidents Park II that expires on August 31, 2014. iDirect, a subsidiary of Vision Technologies Systems, designs, develops, and markets satellite-based broadband access solutions targeted at the enterprise, government, carrier and educational sectors that have the need for fast, flexible, and geographically dispersed two-way Internet/intranet access. iDirect was awarded the 2005 World Teleport Association Teleport Technology of the year, the Innovation & Technology of the Year by The ISCe Advisory Board, and named number one in the Deloitte & Touche Virginia Technology Fast 50 list of the fastest-growing U.S. technology companies. iDirect�s corporate headquarters are located at Presidents Park and the company has regional offices in Europe, Asia, and covering Latin America. Mike Jones, Senior Vice President of Leasing and Marketing, said, �We are very pleased to expand iDirect, Inc. for a second time and support their continued growth. This lease brings Presidents Park I to approximately 95% leased and continues our strong leasing efforts in Northern Virginia.� About Republic Property Trust Republic Property Trust is a fully integrated, self-administered and self-managed real estate investment trust formed to own, operate, lease, acquire and develop primarily Class A office properties. The Company�s current portfolio is focused in the Washington, D.C. metropolitan, or Greater Washington, D.C. market. Safe Harbor Various statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "strategy," "plan," "project," "believe," "anticipate," "intend," "should," "will," "expect," "estimate," and similar expressions identify these forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to differ materially from historical results or from any results expressed or implied by these forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; financing risks; property management risks; the level and volatility of interest rates; financial stability of tenants; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks; potential environmental and other liabilities; the Company's ability to pay its estimated distribution at its current rate; the impact of potential management changes; the Company's ability to acquire its option properties; the outcome of any material litigation; the outcome of its evaluation of strategic alternatives; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by it from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K (as amended by Form 10-K/A) and Quarterly Reports on Form 10-Q, each of which discusses these and other factors that could adversely affect the Company's results. The Company does not undertake a duty to update or revise any forward-looking statement whether as a result of new information, future events or otherwise.