Exhibit 12

LEXINGTON CORPORATE PROPERTIES TRUST

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS
For the year ended December 31,
($000’s)

Earnings	2005			2004		2003		2002		2001
Income before benefit (provision) for income taxes, minority interest, equity in earnings of non-consolidated entities and discontinued operations	$	13,933		$	31,694	$	22,425	$	22,340	$	15,798
Interest expense		63,602			43,704		32,982		31,210		28,493
Amortization expense — debt cost		1,463			1,153		1,186		1,144		923
Debt satisfaction charges		(4,409	)		56		7,459		345		3,988
Cash received from joint ventures		14,663			5,294		7,823		5,660		4,110
Total	$	89,252		$	81,901	$	71,875	$	60,699	$	53,312
Fixed charges
Interest expense	$	63,602		$	43,704	$	32,982	$	31,210	$	28,493
Debt satisfaction charges		(4,409	)		56		7,459		345		3,988
Capitalized interest expense		816			225		142		24		168
Preferred stock dividend		16,435			6,945		3,392		693		2,709
Amortization expense — debt cost		1,463			1,153		1,186		1,144		923
Total	$	77,907		$	52,083	$	45,161	$	33,416	$	36,281
Ratio		1.15			1.57		1.59		1.82		1.47