Dividend Capital Trust announces closing of its first institutional fund  

DENVER , CO  - March 3 , 2006  - Dividend Capital Trust (DCT) announced today the closing of its first institutional capital management venture, a $123 million fund with affiliates of Boubyan Bank of Kuwait .

"Institutional joint venture asset management is a key part of our corporate strategy, and we are extremely pleased to have closed on this first venture," said Teresa Corral, Senior Vice President of DCT. "These ventures are highly accretive to DCT shareholders, and offer our joint venture partners access to high-quality real estate in top distribution markets."

The venture owns 6 high quality bulk distribution facilities in major U.S. distribution markets, each of which is 100% leased to creditworthy tenants. "The strategy for our first U.S. real estate joint venture was to buy the highest quality industrial assets and to align ourselves with a partner of equal stature," said Fuad Alshehab, General Manager of the Investment Sector for Boubyan Bank. "We believe that through our venture with DCT we have achieved both of these objectives."

As of December 31, 2005, DCT owned, managed or had under development 266 properties totaling approximately 41.4 million square feet in 23 markets, leased to more than 500 corporate customers. At year end 2005, portfolio occupancy reached 92.7%, up from 91.5% at the end of the third quarter.

Dividend Capital Trust, a Denver-based Real Estate Investment Trust (REIT), invests primarily in high-quality, generic distribution warehouses and light industrial properties net leased to creditworthy corporate customers.

Boubyan Bank is a publicly owned financial institution, based in Kuwait . It is a global leader in alternative finance and investments, having completed real estate and private equity transactions in Asia, Europe, the United States and the Middle East .

Arch Street Capital Advisors, LLC, a Greenwich , Connecticut base real estate advisory and asset management firm, arranged the financing and provided advice to Boubyan Bank on the acquisition of the portfolio.