Brandywine Realty Trust
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Distributions
(in thousands)

	For the three-months ended March 31,						For the years ended December 31,
	2008			2007			2007			2006			2005			2004			2003
Earnings before fixed charges:
Add:
Income (loss) from continuing operations (a)	$	6,952		$	(7,910	)	$	27,391		$	(20,219	)	$	32,075		$	49,761		$	65,013
Minority interest attributable to continuing operations		257			(312	)		1,314			(1,585	)		1,018			2,173			8,784
Fixed charges — per below		45,545			46,967			191,069			191,614			86,191			61,443			69,476
Less:
Capitalized interest		(4,557	)		(3,764	)		(17,476	)		(9,537	)		(9,603	)		(3,030	)		(1,503	)
Preferred Distributions of consolidated subsidiaries		—			—			—			—			—			(832	)		(7,069	)
Earnings before fixed charges	$	48,197		$	34,981		$	202,298		$	160,273		$	109,681		$	109,515		$	134,701
Fixed charges and Preferred Distributions:
Interest expense (including amortization)	$	38,958		$	41,616		$	167,171		$	175,784		$	73,918		$	54,610		$	57,835
Capitalized interest		4,557			3,764			17,476			9,537			9,603			3,030			1,503
Proportionate share of interest for unconsolidated real estate ventures		2,030			1,587			6,422			6,293			2,670			2,971			3,069
Distributions to preferred unitholders in Operating Partnership		—			—			—			—			—			832			7,069
Total Fixed Charges		45,545			46,967			191,069			191,614			86,191			61,443			69,476
Income allocated to preferred shareholders		1,998			1,998			7,992			7,992			7,992			9,720			11,906
Total Preferred Distributions		1,998			1,998			7,992			7,992			7,992			9,720			11,906
Total combined fixed charges and preferred distributions	$	47,543		$	48,965		$	199,061		$	199,606		$	94,183		$	71,163		$	81,382
Ratio of earnings to combined fixed charges and preferred distributions		1.01			(b	)		1.02			(b	)		1.16			1.54			1.66

(a)	Amounts for the three-months ended March 31, 2008 and 2007 and for the years ended December 31, 2007, 2006, 2005, 2004 and 2003 have been reclassified to present properties sold consistent with the presentation for the period ended March 31, 2008. As a result, operations have been reclassified to discontinued operations from continuing operations for all periods presented.
(b)	Due to the registrant’s loss in the period, the coverage ratio was less than 1:1. The registrant must generate additional earnings of $13,984 for three-months ended March 31, 2007 and $39,333 for the year ended December 31, 2006 to achieve a coverage ratio of 1:1.