Exhibit 99.1

	For Immediate Release
Investor Relations Contacts:	News Media Contact:
Shona L. Bedwell	Joel Reuter
317.808.6169	317.808.6137
shona.bedwell@dukerealty.com	joel.reuter@dukerealty.com
Randy A. Henry
317.808.6060
randy.henry@dukerealty.com

Duke Realty Corporation Announces Third Quarter Earnings

(Indianapolis, October 29, 2008) – Duke Realty Corporation (NYSE: DRE) today reported results for the three months ended September 30, 2008. Funds from Operations available to common shareholders (diluted) (FFO) were $0.66 per share for the quarter, compared with $0.68 per share for the same quarter of 2007. The variance is primarily the result of higher lease termination fees in the third quarter of 2007, which affected FFO from net property operations.

Net income available to common shareholders (diluted) (EPS) was $0.09 per share for the third quarter of 2008, compared with $0.39 for the same quarter of 2007. The difference in EPS arises mainly from higher gains on sale of property during the third quarter of last year.

Earnings Remain Stable, Capital Grows during Quarter

“Despite a challenging economic environment, we are pleased with our results for the quarter. Our occupancy continued to improve and we were able to raise capital through dispositions from our built for sale portfolio,” said Denny Oklak, chairman and chief executive officer. During the quarter, four properties were contributed to the joint venture between Duke and CBRE Realty Trust formed in May 2008. These properties, along with a building contributed to the joint venture in the second quarter, resulted in $165 million in new capital for the company. An additional $71 million in capital was generated through dispositions of other office and industrial properties during the quarter.

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“Our top priority in these uncertain economic times is to increase liquidity and further strengthen our balance sheet to provide maximum flexibility,” Mr. Oklak added. “We have virtually halted new development commitments until economic conditions improve.”

Earnings Guidance

“We expect our FFO per share for the fourth quarter of 2008 to be between $0.62 and $0.72 per share, which would result in FFO per share for the year of $2.45 to $2.55 per share,” Mr. Oklak said.

Due to uncertainties in the capital markets, the company is not providing guidance on FFO per share for 2009 at this time. Guidance for 2009 is expected to be provided no later than the fourth quarter earnings conference call on January 29, 2009.

Occupancy and New Investment Activity

Occupancy of the company’s stabilized, in-service portfolio increased to 93.8 percent from 93.1 percent at June 30, 2008. “Customer relationships are even more important during uncertain economic times,” said Robert M. Chapman, chief operating officer. “We are encouraged by the improvement in occupancy, and by tenant retention of 74 percent during the quarter.”

Through acquisitions and development, Duke added $163 million in new properties to its portfolio, including two fully leased industrial buildings totaling 658,000 square feet near the Port of Savannah, Georgia, the nation’s fourth largest seaport. New healthcare developments included medical office buildings in suburban Dallas and in Lafayette, Indiana totaling over 200,000 square feet.

Dividends Declared

The company’s Board of Directors declared its quarterly common stock dividend of $0.485 per share, or $1.94 per share on an annualized basis. The dividend is payable on November 29, 2008 to shareholders of record on November 14, 2008.

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The Board also declared the following dividends on the company’s outstanding preferred stock:

Class	NYSE Symbol	Quarterly Amount/Share	Record Date	Payment Date
Series J	DREPRJ	$.414063	November 14, 2008	November 28, 2008
Series K	DREPRK	$.406250	November 14, 2008	November 28, 2008
Series L	DREPRL	$.412500	November 14, 2008	November 28, 2008
Series M	DREPRM	$.434375	December 17, 2008	December 31, 2008
Series N	DREPRN	$.453125	December 17, 2008	December 31, 2008
Series O	DREPRO	$.523438	December 17, 2008	December 31, 2008

Third Quarter Operating Statistics

• At the end of the third quarter, the company’s 691 stabilized in-service held-for-rental properties, totaling 114.3 million square feet, were 93.8 percent leased compared to 93.1 percent at June 30, 2008.

• Same property net operating income increased 4.5 percent for the three months ended September 30, 2008.

• The company renewed 74 percent of all leases expiring in the third quarter, for a total of 1.9 million square feet, with average net effective rent increases of 4.0 percent.

• The company owns 33 recently completed held-for-rental properties, with a total of 9.8 million square feet that are 34.1 percent leased. The company has 10 held-for-rental properties under development, with a total of 1.8 million square feet that are 32.9 percent pre-leased.

A copy of the company’s supplemental information fact book will be available after 6:00 p.m. EDT today in the Investor Relations section of the company’s Web site at www.dukerealty.com. Duke is also hosting a conference call on Thursday, October 30 at 3:00 p.m. New York time to discuss its third quarter operating results. All investors are invited to listen to this call, which can be heard through the Investor Relations section of the company’s Web site.

When used in this news release, the word “believes,” “expects,” “estimates” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially. In particular, among the factors that could cause actual results to differ materially are continued qualification as a real estate investment trust, general business and economic conditions, competition, increases in real estate construction costs, interest rates, accessibility of debt and equity capital markets and other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters and liquidity of

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real estate investments. Readers are advised to refer to Duke’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on February 29, 2008 for additional information concerning these risks.

About Duke Realty Corporation

Duke Realty Corporation specializes in the ownership, construction, development, leasing, and management of office, industrial, and healthcare real estate. It is the largest publicly traded, vertically integrated office/industrial real estate company in the United States. Duke owns, manages, or has under development more than 144 million rentable square feet in 24 major U.S. cities. The company controls more than 7,100 acres of land for more than 107 million square feet of future development, including nationwide real estate solutions through its national development division. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index.

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Financial Highlights

(in thousands, except per share data)

	Three Months Ended September 30,						Nine Months Ended September 30,
Operating Results	2008			2007			2008			2007
Revenues from continuing operations	$	245,935		$	227,114		$	725,957		$	673,398
Earnings from rental operations		15,584			20,801			57,188			72,115
Earnings from service operations		21,738			7,301			36,541			26,253
Net income available for common shareholders - Basic		13,054			53,387			34,899			159,026
Net income available for common shareholders - Diluted		13,741			56,960			36,760			170,127
Funds from operations available for common shareholders - Basic		97,102			93,673			269,838			267,282
Funds from operations available for common shareholders - Diluted		102,152			99,943			284,050			285,922
Per Share:
Funds from operations available for common shareholders - Basic	$	0.66		$	0.68		$	1.84		$	1.95
Funds from operations available for common shareholders - Diluted	$	0.66		$	0.68		$	1.83		$	1.93
Net income available for common shareholders - Basic	$	0.09		$	0.39		$	0.24		$	1.16
Net income available for common shareholders - Diluted	$	0.09		$	0.39		$	0.24		$	1.15
Dividend payout ratio of funds from operations		73.5	%		70.6	%		79.2	%		74.4	%
Weighted average shares outstanding
Basic - Net income and Funds From Operations		146,966			137,576			146,680			137,110
Diluted - Net income and Funds From Operations		155,344			147,651			155,105			147,986
Balance Sheet Data							September 30, 2008			December 31 2007
Net real estate investments							$	6,221,273		$	6,101,332
Total assets								7,842,864			7,661,981
Total debt								4,399,743			4,316,460
Shareholders’ equity								2,885,430			2,750,033
Common shares outstanding at end of period								147,110			146,175

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Reconciliation of Net Income to Funds From Operations

(in thousands, except per share data)

	Three Months Ended September 30, (Unaudited)
	2008						2007
	Amount			Wtd. Avg. Shares	Per Share		Amount			Wtd. Avg. Shares	Per Share
Net Income Available for Common Shares	$	13,054		146,966	$	0.09	$	53,387		137,576	$	0.39
Add back:
Minority interest in earnings of unitholders		687		7,638				3,573		9,176
Other potentially dilutive shares				740						899
Diluted Net Income Available for Common Shares	$	13,741		155,344	$	0.09	$	56,960		147,651	$	0.39
Reconciliation to Funds From Operations (“FFO”)
Net Income Available for Common Shares	$	13,054		146,966	$	0.09	$	53,387		137,576	$	0.39
Adjustments:
Depreciation and Amortization		75,260						72,076
Company Share of Joint Venture Depreciation and amortization		14,450						10,574
Earnings from depreciable property sales-wholly owned		(1,299	)					(39,670	)
Earnings from depreciable property sales-JV		0						3
Minority interest share of adjustments		(4,363	)					(2,697	)
Basic Funds From Operations		97,102		146,966	$	0.66		93,673		137,576	$	0.68
Minority interest in earnings of unitholders		687		7,638				3,573		9,176
Minority interest share of adjustments		4,363						2,697
Other potentially dilutive shares				740						899
Diluted Funds From Operations	$	102,152		155,344	$	0.66	$	99,943		147,651	$	0.68
	Nine Months Ended September 30, (Unaudited)
	2008						2007
	Amount			Wtd. Avg. Shares	Per Share		Amount			Wtd. Avg. Shares	Per Share
Net Income Available for Common Shares	$	34,899		146,680	$	0.24	$	159,026		137,110	$	1.16
Add back:
Minority interest in earnings of unitholders		1,861		7,727				11,101		9,560
Other potentially dilutive shares				698						1,316
Diluted Net Income Available for Common Shares	$	36,760		155,105	$	0.24	$	170,127		147,986	$	1.15
Reconciliation to Funds From Operations (“FFO”)
Net Income Available for Common Shares	$	34,899		146,680	$	0.24	$	159,026		137,110	$	1.16
Adjustments:
Depreciation and Amortization		230,956						208,222
Company Share of Joint Venture Depreciation and amortization		28,769						21,152
Earnings from depreciable property sales-wholly owned		(11,940	)					(111,751	)
Earnings from depreciable property sales-share of joint venture		(495	)					(1,828	)
Minority interest share of adjustments		(12,351	)					(7,539	)
Basic Funds From Operations		269,838		146,680	$	1.84		267,282		137,110	$	1.95
Minority interest in earnings of unitholders		1,861		7,727				11,101		9,560
Minority interest share of adjustments		12,351						7,539
Other potentially dilutive shares				698						1,316
Diluted Funds From Operations	$	284,050		155,105	$	1.83	$	285,922		147,986	$	1.93

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Reconciliation of Net Income to Funds From Operations

(in thousands, except per share data)

	Three Months Ended September 30, (Unaudited)
	2007						2006
	Amount			Wtd. Avg. Shares	Per Share		Amount			Wtd. Avg. Shares	Per Share
Net Income Available for Common Shares	$	53,387		137,576	$	0.39	$	61,734		135,117	$	0.46
Add back:
Minority interest in earnings of unitholders		3,573		9,176				6,083		13,211
Joint venture partner convertible ownership net income								378		1,357
Other common stock equivalents				899						1,262
Diluted Net Income Available for Common Shares	$	56,960		147,651	$	0.39	$	68,195		150,947	$	0.45
Reconciliation to Funds From Operations (“FFO”)
Net Income Available for Common Shares	$	53,387		137,576	$	0.39	$	61,734		135,117	$	0.46
Adjustments:
Depreciation and Amortization		72,076						64,363
Company Share of Joint Venture Depreciation and amortization		10,574						4,568
Earnings from depreciable property sales-wholly owned		(39,670	)					(39,537	)
Earnings from depreciable property sales-JV		3						280
Minority interest share of adjustments		(2,697	)					(2,621	)
Basic Funds From Operations		93,673		137,576	$	0.68		88,787		135,117	$	0.66
Minority interest in earnings of unitholders		3,573		9,176				6,083		13,211
Minority interest share of adjustments		2,697						2,621
Other common stock equivalents				899						1,262
Diluted Funds From Operations	$	99,943		147,651	$	0.68	$	97,491		149,590	$	0.65
	Nine Months Ended September 30, (Unaudited)
	2007						2006
	Amount			Wtd. Avg. Shares	Per Share		Amount			Wtd. Avg. Shares	Per Share
Net Income Available for Common Shares	$	159,026		137,110	$	1.16	$	94,899		134,957	$	0.70
Add back:
Minority interest in earnings of unitholders		11,101		9,560				9,396		13,302
Other common stock equivalents				1,316						1,213
Diluted Net Income Available for Common Shares	$	170,127		147,986	$	1.15	$	104,295		149,472	$	0.70
Reconciliation to Funds From Operations (“FFO”)
Net Income Available for Common Shares	$	159,026		137,110	$	1.16	$	94,899		134,957	$	0.70
Adjustments:
Depreciation and Amortization		208,222						190,112
Company Share of Joint Venture Depreciation and amortization		21,152						13,695
Earnings from depreciable property sales-wholly owned		(111,751	)					(41,573	)
Earnings from depreciable property sales-share of joint venture		(1,828	)					(8,082	)
Minority interest share of adjustments		(7,539	)					(13,831	)
Basic Funds From Operations		267,282		137,110	$	1.95		235,220		134,957	$	1.74
Minority interest in earnings of unitholders		11,101		9,560				9,396		13,302
Minority interest share of adjustments		7,539						13,831
Other common stock equivalents				1,316						1,213
Diluted Funds From Operations	$	285,922		147,986	$	1.93	$	258,447		149,472	$	1.73

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