TRZ Trizec Properties

Trizec Properties, Inc. (NYSE:TRZ), announced today the tax treatment of its 2005 dividend distributions on its common stock. The treatment of Trizec's total 2005 distribution of $0.80 per common share is outlined below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Trizec Properties dividends. -0- *T Record Payable Cash Security Ticker Date Date Distributions Description CUSIP Symbol (mm/dd/yy) (mm/dd/yy) Per Share ------------------------------------------------------------------- Common 89687P 10 7 TRZ 03/31/05 04/15/05 $0.200000 ------------------------------------------------------------------- Common 89687P 10 7 TRZ 06/30/05 07/15/05 $0.200000 ------------------------------------------------------------------- Common 89687P 10 7 TRZ 09/30/05 10/17/05 $0.200000 ------------------------------------------------------------------- Common 89687P 10 7 TRZ 12/30/05 01/17/06 $0.200000 ------------------------------------------------------------------- Totals $0.800000 ------------------------------------------------------------------- Nontaxable Taxable Qualified Distributions Security Ticker Ordinary Dividends (Return of Description CUSIP Symbol Dividend (1) Capital) ------------------------------------------------------------------- Common 89687P 10 7 TRZ $0.182036 $0.028724 $0.017964 ------------------------------------------------------------------- Common 89687P 10 7 TRZ $0.182036 $0.028724 $0.017964 ------------------------------------------------------------------- Common 89687P 10 7 TRZ $0.182036 $0.028724 $0.017964 ------------------------------------------------------------------- Common 89687P 10 7 TRZ $0.182036 $0.028724 $0.017964 ------------------------------------------------------------------- Totals $0.728144 $0.114896 $0.071856 ------------------------------------------------------------------- *T (1) Qualified Dividends are a subset of, and included in, the Taxable Ordinary Dividend amount. Trizec Properties, Inc., a real estate investment trust (REIT) headquartered in Chicago, is one of the largest owners and operators of commercial office properties in the United States. The Company has ownership interests in and manages a high-quality portfolio of 49 office properties totaling approximately 36 million square feet concentrated in the metropolitan areas of seven major U.S. cities. The Company trades on the New York Stock Exchange under the symbol TRZ. For more information, visit Trizec's web site at www.trz.com or call toll free at 1 (800) 891-7017.