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	2006			2005			2004		2003		2002
Income (loss) before benefit (provision) for income taxes, minority interest, equity in earnings of non-consolidated entities and discontinued operations	$	(3,476	)	$	21,223		$	31,028	$	16,670	$	15,702
Interest expense		69,593			61,174			41,394		29,960		27,354
Amortization expense — debt cost		1,809			1,443			1,062		923		878
Debt satisfaction charges (gains)		(7,228	)		(4,409	)		56		6,221		345
Cash received from joint ventures		22,239			14,663			5,294		8,128		5,579
Total	$	82,937		$	94,094		$	78,834	$	61,902	$	49,858
Fixed charges
Interest expense	$	69,593		$	61,174		$	41,394	$	29,960	$	27,354
Debt satisfaction charges (gains)		(7,228	)		(4,409	)		56		6,221		345
Capitalized interest expense		513			816			225		142		24
Preferred stock dividend		16,435			16,435			6,945		3,392		693
Amortization expense — debt cost		1,809			1,443			1,062		923		878
Total	$	81,122		$	75,459		$	49,682	$	40,638	$	29,294
Ratio		1.02			1.25			1.59		1.52		1.70