2008-06-25 03:12:06 -

www.pgrt.com - Prime Group Realty Trust (NYSE:PGEPRB), a Chicago-based real estate investment trust ("PGRT"), announced today that it has signed a multi-year lease extension with Porsche Financial Services, Inc. (f/k/a Porsche Credit Corp.) for its 29,327 square foot corporate offices at The Olympian Office Center located at 4343 Commerce Court in Lisle, Illinois.

Porsche Financial Services, Inc. is a

wholly owned, indirect subsidiary of Porsche AG and provides automotive leasing and financing products to its 212 US and Canadian Porsche dealers and their customers.

4343 Commerce Court offers excellent visibility along I-88, and affords Porsche Financial Services, Inc. the opportunity to prominently display the Porsche logotype on the top of the building. The seven-story building offers an impressive lobby with a 102 foot high glass Grand Atrium providing an infusion of natural light to each floor. Other amenities include a deli, building conference center and a fitness center.

Vic Toft and Jon Springer of CB Richard Ellis represented Porsche Financial Services, Inc., a long-term tenant, while Julie Mertins, Assistant Vice President of leasing of Prime Group Realty Trust, represented the landlord. "Porsche is a valued tenant and we are extremely pleased to have them continue their occupancy in the building", Mertins said.

About Prime Group Realty Trust

Owned by one of the largest private real estate owners in the country, The Lightstone Group, Prime Group Realty Trust is a fully-integrated, self-administered, and self-managed real estate investment trust (REIT) which owns, manages, leases, develops, and redevelops office and industrial real estate, primarily in metropolitan Chicago. The Company currently owns 9 office properties containing an aggregate of 3.4 million net rentable square feet, a joint venture interest in one office property comprised of approximately 101,000 net rentable square feet and a membership interest in an unconsolidated entity which owns extended-stay hotel properties. It leases and manages approximately 3.4 million square feet comprising all of the wholly-owned properties. In addition, the Company is also the managing and leasing agent for the approximately 959,000 square foot property located at 77 West Wacker Drive in Chicago, Illinois, and the approximately 1.5 million square foot Citadel Center office building located at 131 South Dearborn Street in Chicago, Illinois. For more information about Prime Group Realty Trust, contact the company's Chicago headquarters at (312) 917-1300 or visit its website at www.pgrt.com.

About the Lightstone Group

The Lightstone Group is one of the country's largest privately held real estate companies with interests in residential, office, retail, hospitality, and industrial real estate assets. The company, principally through its related operating entities, Prime Retail, Extended Stay Hotels, and Prime Group Realty Trust, owns a diversified portfolio of over 687 hotels, 18,000 residential units and approximately 29 million square feet of office, industrial and retail properties in 46 states, the District of Columbia, Canada and Puerto Rico. Headquartered in New York, The Lightstone Group employs approximately 14,000 staff and professionals and maintains regional offices in Maryland, South Carolina, Illinois and New Jersey. For more information on The Lightstone Group, call 800-347-4078 or visit www.lightstonegroup.com.

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect management's current views with respect to future events and financial performance. The words, "believes," "expects," "anticipates," "estimates," and similar words or expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, changes in general economic conditions, adverse changes in real estate markets as well as other risks and uncertainties included from time to time in the Company's filings with the Securities and Exchange Commission.

Prime Group Realty Trust
Jeffrey A. Patterson
President and Chief Executive Officer
312/917-1300
or
Paul G. Del Vecchio
Executive Vice President--Capital Markets
312/917-1300