TRZ Trizec Properties

Trizec Properties, Inc. (NYSE:TRZ) announced today that its Board of Directors declared a quarterly dividend of $0.20 per common share to be paid to the holders of record at the close of business on March 31, 2006. The cash dividend, which is payable on April 17, 2006, applies to the First Quarter of 2006. 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.