Alexandria Real Estate Equities, Inc. Declares Quarterly Cash Dividends

PASADENA, Calif., March 24 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE) announced today that its Board of Directors declared a quarterly cash dividend of 70 cents per common share for the first quarter of 2006. The dividend is payable on April 14, 2006 to shareholders of record on April 3, 2006.

Alexandria announced that its Board of Directors declared a cash dividend of 56.875 cents per share for the first quarter of 2006 for its 9.10% Series B Cumulative Redeemable Preferred Stock. The dividend is payable on April 14, 2006 to preferred shareholders of record on April 3, 2006.

Alexandria also announced that its Board of Directors declared a cash dividend of 52.34375 cents per share for the first quarter of 2006 for its 8.375% Series C Cumulative Redeemable Preferred Stock. The dividend is payable on April 14, 2006 to preferred shareholders of record on April 3, 2006.

Alexandria Real Estate Equities, Inc. is a publicly-traded real estate investment trust focused principally on the ownership, operation, management, acquisition and selective redevelopment and development of properties containing office/laboratory space. Such properties are designed and improved for lease primarily to institutional (universities and not-for-profit institutions), pharmaceutical, biotechnology, life science product, service, biodefense and translational research entities, as well as government agencies. Alexandria's portfolio currently consists of 139 properties comprising approximately 9.2 million square feet of office/laboratory space.

This press release contains forward-looking statements within the meaning of the federal securities laws. The Company's actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the Company's Form 10-K Annual Report and other periodic reports filed with the Securities and Exchange Commission.