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Franklin Street Properties Corp. Announces Acquisition of Addison, Texas, Property

Franklin Street Properties Corp. (the "Company" or "FSP") (AMEX: FSP) announced today its acquisition on February 24, 2006 of a two-building Class "A-" office property located at 5055 and 5057 Keller Springs Road in Addison, Texas. The property is known as "Liberty Plaza" and contains approximately 218,913 square feet. Addison is part of the greater metropolitan Dallas area, and is more specifically located in north Dallas off the North Dallas Tollway between the LBJ Freeway (635) and the George Bush Highway (State Highway 190) (at Keller Springs Road). The Company did not incur any mortgage indebtedness to purchase the property; instead, it utilized its excess cash. FSP has no permanent mortgage indebtedness on any of the properties in its portfolio. The addition of Liberty Plaza brings the Company's total number of continuing properties to 28.

About Franklin Street Properties Corp.

Franklin Street Properties Corp. is a real estate investment trust based in Wakefield, Massachusetts, focused on achieving current income and long-term growth through investments in commercial properties. Since its origination in 1997, FSP has applied an uncompromising discipline to its real estate investing. These disciplines have been learned over many years of property investment. FSP operates in two business segments: real estate operations and investment banking/investment services. FSP owns an unleveraged portfolio of real estate. The majority of FSP's property portfolio is suburban office buildings. FSP's subsidiary, FSP Investments LLC (member, NASD and SIPC), is a real estate investment banking firm and a registered broker/dealer. The primary activity of the investment bank is the organization of single purpose entities that acquire, own and operate specific real estate properties. FSP Investments LLC raises all of the capital required to fully equitize those entities through private placement offerings. To learn more about FSP please visit our website at www.franklinstreetproperties.com.

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