8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

Current Report Pursuant

to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported) May 1, 2007

LEXINGTON REALTY TRUST
(Exact Name of Registrant as Specified in Its Charter)
Maryland	1-12386	13-3717318
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

One Penn Plaza, Suite 4015, New York, New York 10119-4015

(Address of Principal Executive Offices) (Zip Code)

(212) 692-7200

(Registrant's Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions

___Written communications pursuant to Rule 425 under the Securities Act (17 CFT|R 230.425)

___Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

___Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

___Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On May 1, 2007, we entered into a purchase agreement with the Utah State Retirement Investment Fund and acquired an additional 70% interest in Triple Net Investment Company LLC, one of our co-investment programs. We are now the sole owner of the co-investment program’s 15 primarily single tenant net leased properties. We acquired the interest for a cash payment of approximately $82.7 million and the assumption of approximately $156.6 million of non-recourse first mortgage financing. The purchase agreement contained limited representations and warranties and closing conditions.

The foregoing description of the purchase agreement is qualified in its entirety by reference to the purchase agreement attached as Exhibit 10.1 to this Current Report on Form 8-K.

Item 2.02. Results of Operations and Financial Conditions.

On May 3, 2007, we issued a press release announcing our financial results for the quarter ended March 31, 2007. A copy of the press release is furnished herewith as Exhibit 99.1.

The information furnished pursuant to this “Item 2.02 Results of Operations and Financial Condition,” including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, which we refer to as the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, which we refer to as the Act, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 7.01. Regulation FD Disclosure.

On May 3, 2007, we made available supplemental information, which we refer to as the Supplemental Reporting Package, concerning our operations and portfolio for the quarter ended March 31, 2007. A copy of this supplemental information is furnished herewith as Exhibit 99.2.

The information furnished pursuant to this “Item 7.01 Regulation FD Disclosure,” including Exhibit 99.2, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that section and shall not be deemed to be incorporated by reference into any of our filings under the Act or the Exchange Act, regardless of any general incorporation language in such filing.

Item 8.01. Other Events.

A copy of the press release issued on May 2, 2007, relating to the purchase agreement discussed under Item 1.01 of this Current Report on Form 8-K is attached to this Current Report on Form 8-K as Exhibit 99.3 and is incorporated herein by reference.

In September 2006, the Securities and Exchange Commission released Staff Accounting Bulletin No. 108. To clarify previous disclosure, we are disclosing that we adopted Staff Accounting Bulletin No. 108 as of December 31, 2006. The adoption of Staff Accounting Bulletin No. 108 did not have a material impact on our consolidated financial position or results of operations.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits

10.1	Purchase Agreement, dated as of May 1, 2007, between Lexington Realty Trust and the Utah State Retirement Investment Fund.
99.1	Press Release issued May 3, 2007.
99.2	Supplemental Reporting Package for the quarter ended March 31, 2007.
99.3	Press Release issued May 2, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Lexington Realty Trust

Date: May 4, 2007 By: /s/ T. Wilson Eglin

T. Wilson Eglin

Chief Executive Officer

Exhibit Index

10.1	Purchase Agreement, dated as of May 1, 2007, between Lexington Realty Trust and the Utah State Retirement Investment Fund.
99.1	Press Release issued May 3, 2007.
99.2	Supplemental Reporting Package for the quarter ended March 31, 2007.
99.3	Press Release issued May 2, 2007.

EX-10

Exhibit 10.1

PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT is made and entered into as of the 1st day of May 2007, by and between UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah (“Seller”), and LEXINGTON REALTY TRUST (f/k/a as Lexington Corporate Properties Trust), a Maryland statutory real estate investment trust (“Purchaser”).

WITNESSETH

WHEREAS, Seller and Purchaser constitute all of the members of Triple Net Investment Company LLC, a Delaware limited liability company (the “Company”) and are party to that certain Limited Liability Company Agreement of the Company, dated as of April 22, 2004, between Purchaser and Seller, as amended by that certain First Amendment to Limited Liability Company Agreement of the Company, dated as of December 22, 2004, between Purchaser and Seller, and as further amended by that certain Second Amendment to Limited Liability Company Agreement, dated as of April 30, 2007, between Purchaser and Seller (the “Operating Agreement”);

WHEREAS, Seller and Purchaser constitute all of the limited partners and the Company is the sole general partner of Triple Net Investment L.P., a Delaware limited partnership (the “Partnership”) and are party to that certain Agreement of Limited Partnership of the Partnership, dated as of December 8, 2004, between Purchaser, the Company and Seller, as amended by that certain First Amendment to Agreement of Limited Partnership of the Partnership, dated as of April 30, 2007, between Purchaser and Seller (the “Partnership Agreement”);

WHEREAS, subject to the terms and provisions set forth below, Seller desires to sell and Purchaser desires to acquire all of Seller’s right, title and interest in and to the Company and the Partnership (the “Interest”):

NOW, THEREFORE, it is hereby agreed, by and between the parties hereto, as follows:

ARTICLE FIRST

PURCHASE AND SALE

1.1Purchase and Sale.Subject to the terms and conditions of this Agreement, Seller hereby sells, conveys, transfers, assigns and delivers to Purchaser and Purchaser hereby purchases from Seller, the Interest, including without limitation, all rights and interests (economic and otherwise), duties, liabilities and obligations attendant thereto (whether under the Operating Agreement, the Partnership Agreement or otherwise), and all future, as well as accrued and unpaid, distributions and/or other payments to which Seller is entitled in connection therewith, free and clear of all liens, claims, charges and encumbrances of any kind or nature whatsoever, other than the terms, covenants and provisions of this Agreement.

1.2Payment of the Purchase Price.Subject to the terms and conditions, and in reliance upon the representations and warranties, Purchaser hereby purchases the Interest from Seller for an aggregate cash purchase price of FORTY SEVEN MILLION EIGHT HUNDRED EIGHTY FIVE THOUSAND NINE HUNDRED SEVENTY EIGHT DOLLARS and xx/100 ($47,885,987) (the “Purchase Price”). The Purchase Price shall be payable in cash by delivery of immediately available funds upon execution of this Agreement by Seller and Purchaser in accordance with the instructions set forth on Schedule 1 hereto and delivery of (i) an Assignment of Membership Interest in the form attached as Exhibit A hereto executed by Seller and Purchaser and (ii) an Assignment of Partnership Interest in the form attached as Exhibit B hereto executed by Seller and Purchaser.

1.3Distribution.Purchase and Seller acknowledge that it is a condition to the consummation of the transactions contemplated hereby that immediately prior to the consummation of the transactions contemplated hereby that (i) the Company make a distribution to Seller by wire transfer in accordance with the wire instructions set forth on Schedule 2 hereto in the amount of $21,244,518, which distribution shall be in partial redemption of the Seller’s interest in the Company all in accordance with the terms of the Operating Agreement and (ii) the Partnership make a distribution to Seller by wire transfer in accordance with the wire instructions set forth on Schedule 2 hereto in the amount of $13,501,750, which distribution shall be in partial redemption of the Seller’s interest in the Partnership all in accordance with the terms of the Partnership Agreement.

ARTICLE SECOND

REPRESENTATIONS AND WARRANTIES

The Seller hereby represents and warrants to Purchaser that:

2.1Due Organization. The Seller has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization.

2.2Due Authorization. The Seller has full power and authority to own and assign the Interest and to enter into this Agreement and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by Seller of this Agreement have been duly and validly approved by all necessary action and no other actions or proceedings on the part of Seller are necessary to authorize this Agreement or the transactions contemplated hereby and thereby. No consent, waiver, approval, or authorization of, or filing, registration, or qualification with, or notice to, any governmental instrumentality or any individual, corporation, partnership or other entity (each, a “Person”) is required to be made, obtained, or given by Seller in connection with the execution, delivery, and performance of this Agreement and the transactions contemplated hereby or, if required, such consent or action has been obtained or taken. This Agreement constitutes, and the documents executed pursuant to this Agreement when executed will constitute, legal, valid and binding obligations of Seller enforceable against it in accordance with its terms.

2.3Conflicts. The execution and delivery of this Agreement, and the performance by Seller under this Agreement, do not and will not conflict with or result in a breach of (with or

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without the passage of time or notice or both) the terms of any of Seller’s constituent documents, any judgment, order or decree of any governmental authority binding on Seller, and, to Seller’s knowledge, do not breach or violate any applicable law, rule or regulation of any governmental authority. The execution, delivery and performance by Seller under this Agreement will not result in a breach or violation of (with or without the passage of time or notice or both) the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which Seller is a party or by which Seller is bound or to which the Interest is subject. The Seller has not granted any rights, options, rights of first refusal, or any other agreements of any kind, which are currently in effect, to purchase or to otherwise acquire the Interest or any part thereof or any interest therein, except for rights under this Agreement.

2.4Interest. The Seller holds title to the Interest free and clear of any liens, claims or other encumbrances. The Seller has not, directly or indirectly, sold, conveyed, transferred, given, pledged, mortgaged or otherwise disposed of, encumbered or granted in any manner any right, title or interest in and to the Interest; there are no outstanding warrants, options, rights, agreements (other than the Operating Agreement and the Partnership Agreement), calls or other commitments to which Seller (directly or indirectly) is a party relating to or providing for the sale, conveyance, transfer, gift, pledge, mortgage or other disposition, encumbrance or granting of, or permitting any Person to acquire any direct or indirect interest in, the Interest. The Seller has the absolute right, power and capacity, to sell, assign, convey, transfer and deliver the Interest as contemplated by this Agreement, free and clear of any liens, claims or other encumbrances.

2.5Litigation. To Seller’s knowledge, there is no action, suit or proceeding pending or threatened against the Interest with respect to which if adversely determined (i) individually or in the aggregate, would have a material adverse affect on Seller, (ii) would restrain or enjoin the consummation of the transactions contemplated by this Agreement, (iii) have a material adverse effect on Seller’s ability to consummate the transactions contemplated hereby, (iv) declare unlawful the transactions or events contemplated by this Agreement or (v) cause any of such transactions to be rescinded.

2.6No Brokers or Other Fees.No broker, finder or investment banker is entitled to any brokerage, finder or other fee or commission in connection with the transactions contemplated by this Agreement.

ARTICLE THIRD

REPRESENTATIONS AND WARRANTIES OF PURCHASER

Purchaser hereby represents and warrants to Seller that:

3.1Due Organization. The Purchaser has been duly organized and is validly existing and in good standing under the laws of its jurisdiction of organization, and is qualified to do business and in good standing in all jurisdictions where such qualification is necessary to carry on its business as now conducted.

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3.2Due Authorization. The Purchaser has full power and authority to enter into this Agreement and to consummate the transactions contemplated hereby and thereby. The execution, delivery and performance by Purchaser of this Agreement have been duly and validly approved by all necessary limited company action and no other actions or proceedings on the part of Purchaser are necessary to authorize this Agreement or the transactions contemplated hereby and thereby. No consent, waiver, approval, or authorization of, or filing, registration, or qualification with, or notice to, any governmental instrumentality or any Person is required to be made, obtained, or given by Purchaser in connection with the execution, delivery, and performance of this Agreement and the transactions contemplated hereby or, if required, such consent or action has been obtained or taken. This Agreement constitutes, and the documents executed pursuant to this Agreement when executed will constitute, legal, valid and binding obligations of Purchaser enforceable against it in accordance with its terms.

3.3Conflicts. The execution and delivery of this Agreement, and the performance by Purchaser under this Agreement, do not and will not conflict with or result in a breach of (with or without the passage of time or notice or both) the terms of any of Purchaser’s constituent documents, any judgment, order or decree of any governmental authority binding on Purchaser, and, to Purchaser’s knowledge, do not breach or violate any applicable law, rule or regulation of any governmental authority. The execution, delivery and performance by Purchaser under this Agreement will not result in a breach or violation of (with or without the passage of time or notice or both) the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which Purchaser is a party or by which Purchaser is bound.

3.4Litigation. To Purchaser’s knowledge, there is no action, suit or proceeding pending or threatened against the Interest with respect to which if adversely determined (i) individually or in the aggregate, would have a material adverse affect on Purchaser, (ii) would restrain or enjoin the consummation of the transactions contemplated by this Agreement, (iii) have a material adverse effect on Purchaser’s ability to consummate the transactions contemplated hereby, (iv) declare unlawful the transactions or events contemplated by this Agreement or (v) cause any of such transactions to be rescinded.

3.5No Brokers or Other Fees.No broker, finder or investment banker is entitled to any brokerage, finder or other fee or commission in connection with the transactions contemplated by this Agreement.

3.6Investment Representation.Purchaser (1) has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an acquisition of the Interest and it is able to bear the economic risk of a loss of an investment in the Interest and (2) is not acquiring any of the Interest with a view to the distribution of the Interest or any present intention of offering or selling any of the Interest in a transaction that would violate the Securities Act of 1933, as amended, or the securities laws of any state or any other applicable jurisdiction. Purchaser is not relying on Seller (or any agent, representative or affiliate of Seller) with respect to legal, tax, accounting, financial and other economic considerations involved in connection with the transactions contemplated hereby, including an investment in the Interest. Purchaser has carefully considered and has, to the extent it believes

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such discussion is necessary, discussed with its legal, tax, accounting, financial and other advisors the suitability of its proposed investment in the Interest.

ARTICLE FOURTH

INDEMNIFICATION

4.1Seller’s Indemnity. The Seller agrees to indemnify, defend and hold Purchaser, its affiliates and the Company harmless of and from any liability, claim, demand, loss, expense or damage (collectively, “Loss”) suffered by any such indemnitee (1) arising from any act or omission of, or any breach of obligations by Seller, or an agent, employee or contractor of the foregoing, occurring during Seller’s period of ownership of the Interest before the date hereof; (2) arising from any breach or inaccuracy of Seller’s representations and warranties in Article SECOND or (iii) arising from Seller’s failure to comply with any of its covenants contained herein including, without limitation, Section 1.4 hereof.

4.2Purchaser’s Indemnity. The Purchaser agrees to indemnify, defend and hold Seller and its affiliates harmless of and from any Loss suffered by any such indemnitee arising from (i) any breach or inaccuracy of Purchaser’s representations and warranties in Article THIRD or (ii) Purchaser’s failure to comply with any of its covenants contained herein including, without limitation, Section 1.4 hereof.

4.3Survival. The indemnities set forth in this Article FOURTH shall survive the consummation of the transactions contemplated hereby for a period of one year (or, in the event a claim is made by any indemnitee within such one year period, until such claim is resolved, if later).

4.4Procedure. The following provisions govern all actions for indemnity under this Article FOURTH and any other provision of this Agreement. Promptly after receipt by an indemnitee of notice of any claim, such indemnitee will, if a claim in respect thereof is to be made against the indemnitor, deliver to the indemnitor written notice thereof and the indemnitor shall have the right to participate in and, if the indemnitor agrees in writing that it will be responsible for any costs, expenses, judgments, damages, and losses incurred by the indemnitee with respect to such claim, to assume the defense thereof, with counsel mutually satisfactory to the parties; provided, however, that an indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnitor, if the indemnitee reasonably believes that representation of such indemnitee by the counsel retained by the indemnitor would be inappropriate due to actual or potential differing interests between such indemnitee and any other party represented by such counsel in such proceeding. The failure of indemnitee to deliver written notice to the indemnitor within a reasonable time after indemnitee receives notice of any such claim shall relieve such indemnitor of any liability to the indemnitee under this indemnity only if and to the extent that such failure is prejudicial to its ability to defend such action, and the omission so to deliver written notice to the indemnitor will not relieve it of any liability that it may have to any indemnitee other than under this indemnity. If an indemnitee settles a claim without the before written consent of the indemnitor, then the indemnitor shall be released from liability with respect to such claim unless the indemnitor has unreasonably withheld such consent.

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ARTICLE FIFTH

MISCELLANEOUS

5.1Survival. The representations and warranties contained in this Agreement and the provisions of this Agreement shall survive the closing of the transactions contemplated hereby and shall not be deemed to be merged into or waived by the instruments of such closing.

5.2Additional Actions and Documents. Each of the parties hereto hereby agrees to take or cause to be taken such further actions, to execute, deliver and file or cause to be executed, delivered and filed such further documents, and will obtain such consents, as may be necessary or as may be reasonably requested in order to fully effectuate the purposes, terms and conditions of this Agreement.

5.3Entire Agreement; Amendment. This Agreement, including the other documents referred to herein or furnished pursuant hereto, constitute the entire agreement among the parties hereto with respect to the transactions contemplated herein, and supersede all prior oral or written agreements, commitments or understandings with respect to the matters provided for herein; provided, that nothing in this Section 5.3 shall have any effect on any other agreements. No amendment, modification or discharge of this Agreement shall be valid or binding unless set forth in writing and duly executed and delivered by the party against whom enforcement of the amendment, modification, or discharge is sought.

5.4Effect of Investigation. Except as otherwise expressly provided herein, any due diligence review, audit or other investigation or inquiry undertaken or performed by or on behalf of any party hereto shall not limit, qualify, modify or amend the representations, warranties or covenants of, or indemnities by, made or undertaken pursuant to this Agreement, irrespective of the knowledge and information received (or which should have been received) therefrom by such party.

5.5Notices. All notices, demands, requests, or other communications which may be or are required to be given, served, or sent by any party to any other party pursuant to this Agreement shall be in writing and shall be hand delivered, sent by overnight courier or mailed by first-class, registered or certified mail, return receipt requested, postage prepaid, or transmitted by facsimile, telegram, telecopy or telex, addressed as follows:

(i) If to Purchaser:

Lexington Realty Trust

One Penn Plaza, Suite 4015

New York, New York 10119-4015

Attention: Chief Executive Officer

Telephone No.: (212) 692-7200

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with a copy to:

Post Heymann & Koffler LLC

Two Jericho Plaza

Wing A, Suite 211

Jericho, New York 11753

Attention: David J. Heymann, Esq.

Telephone No.: (516) 681-3636

Fax No.: (212) 230-7747

(ii) If to Utah:

Utah State Retirement Investment Fund

540 East 200 South, Fourth Floor

Salt Lake City, UT 84012

Attention: Devon W. Olsen

Telephone No.: (801) 366-7377

Fax No.: (801) 328-7377

Ray Quinney & Nebeker P.C.

36 South State Street

Suite 1400

Salt Lake City, Utah 84111

Attention: Ira B. Rubinfeld

Telephone No.: (801) 323-3354

Fax No.: (801) 532-7543

and

AEW Capital Management, L.P.

World Trade Center East

Two Seaport Lane

Boston, MA 02210

Attention: Chris Kazantis

Telephone No.: (617) 261-9360

Fax No.: (617) 261-9555

Notices may be given by counsel to the parties. Each party may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request or communication which shall be hand delivered, sent, mailed, faxed, telecopied or telexed in the manner described above, or which shall be delivered to a telegraph company, shall be deemed sufficiently given, served, sent, received or delivered for all purposes at such time as it is delivered to the addressee (with the return receipt, the delivery receipt, the confirmation receipt (with respect to a facsimile), or (with respect to a telecopy or telex) the answerback being deemed conclusive, but not exclusive, evidence of such delivery) or at such time as delivery is refused by the addressee upon presentation.

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5.6Waivers. No delay or failure on the part of any party hereto in exercising any right, power or privilege under this Agreement or under any other documents furnished in connection with or pursuant to this Agreement shall impair any such right, power or privilege to be construed as a waiver of any default or any acquiescence therein. No single or partial exercise of any such right, power or privilege shall preclude the further exercise of such right, power or privilege, or the exercise of any other right, power or privilege. No waiver shall be valid against any party hereto unless made in writing and signed by the party against whom enforcement of such waiver is sought and then only to the extent expressly specified therein.

5.7Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

5.8Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claim or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of New York (excluding the choice of law rules thereof) except for actions affecting title to real property, in which case the laws of the State in which the real property is located shall apply.

5.9Assignment. No party hereto shall assign its rights and/or obligations under this Agreement, in whole or in part, whether by operation of law or otherwise, without the prior written consent of the other parties hereto.

5.10No Third Party Beneficiaries. This Agreement is solely for the benefit of the parties hereto, and no provision of this Agreement shall be deemed to confer any third party benefit.

5.11Severability. If any provision of this Agreement shall be held invalid, illegal or unenforceable, the validity, legality or enforceability of the other provisions hereof shall not be affected thereby, and there shall be deemed substituted for the provision at issue a valid, legal and enforceable provision as similar as possible to the provision at issue.

5.12Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. THE PROVISIONS OF THIS SECTION 9.12 SHALL SURVIVE ANY TERMINATION OF THIS AGREEMENT.

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have caused this Real Estate Acquisition Agreement to be duly executed on their behalf as of the date first above written.

LEXINGTON REALTY TRUST, a Maryland statutory real estate investment trust

By: /s/ T. Wilson Eglin

Name: T. Wilson Eglin

Title: Chief Executive Officer

UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah

By: /s/ Devon W. Olson

Name: Devon W. Olson

Title: Director – Real Estate

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Schedule 1

PURCHASE PRICE WIRE INSTRUCTIONS

$46,229,451 to be wired to Seller in accordance with the following instructions:

Bank: The Northern Trust Company, Chicago IL

ABA #: 071000152

For the account of: Master Trust Cash Processing

Account #: 5186061000

Further Credit Account No. 26-00455 URSYS-Cash, Utah Retirement Systems

$1,656,536 to be wired to AEW Capital Management, L.P. in accordance with the following instructions:

Bank: JP Morgan Chase

ABA #: 021000021

For the account of: AEW Capital Management

Account #: 230159060

Attn: Kent Wittler 617-261-9207

Schedule 2

DISTRIBUTION WIRE INSTRUCTIONS

$21,244,518 and $13,501,750 to be wired to Seller by the Company and the Partnership, respectively, in accordance with the following instructions:

Bank: The Northern Trust Company, Chicago IL

ABA #: 071000152

For the account of: Master Trust Cash Processing

Account #: 5186061000

Further Credit Account No. 26-00455 URSYS-Cash, Utah Retirement Systems

Exhibit A

ASSIGNMENT AND ASSUMPTION OF MEMBERSHIP INTEREST

THIS ASSIGNMENT AND ASSUMPTION OF MEMBERSHIP INTEREST (this “Assignment”) is given as of the 1st day of May 2007, by and between UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah (“Assignor”), and LEXINGTON REALTY TRUST, a Maryland statutory real estate investment trust (“Assignee”).

BACKGROUND

A.Pursuant to that certain Purchase Agreement, dated of even date herewith (the “Purchase Agreement”), between Assignor and Assignee, Assignor has agreed to assign to Assignee all of Assignor’s right, title and interest in and to Triple Net Investment Company LLC, a Delaware limited liability company (the “Company”). Such interest being assigned is hereinafter referred to as the “Assigned Interest”;

B.Assignor and Assignee desire to evidence the assignment of the Assigned Interest by Assignor and provide for the assumption of the Assigned Interest by Assignee.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows:

1.Background.The background set forth above is hereby incorporated in this Assignment and forms a part hereof.

2.Assignment.Assignor hereby sells, transfers, assigns, conveys, sets over and confirms all of the Assigned Interest, and all of Assignor’s right, title and interest in, to and under the same, including without limitation, all rights and interests (economic and otherwise), duties, liabilities and obligations attendant thereto (whether under the Operating Agreement (as defined in the Purchase Agreement) or otherwise), and all future, as well as all accrued and unpaid, management and/or other fees, distributions and/or other payments to which Assignor is or may become entitled, with respect to the Assigned Interest, unto the Assignee, free and clear of all liens, claims, charges or encumbrances of any kind or nature whatsoever other than the terms, covenants and provisions of the Operating Agreement and this Agreement. Assignor hereby acknowledges and agrees that from and after the date hereof, Assignor shall have no further interest in, or claim against, the Company.

3.Assumption.Assignee hereby accepts the assignment by Assignor of all of Assignor’s right, title and interest in, to and under the Assigned Interest and assumes, as of the date hereof, all of the obligations of Assignor with respect to the Assigned Interest, and agrees to be bound by the terms of the Operating Agreement as in effect from time to time. For the avoidance of doubt, Assignee has not, and this Assignment is not intended to evidence, the assumption by Assignee of any of the obligations or liabilities of a holder of the Assigned

Interest arising on or prior to the date hereof, all of which shall remain the responsibility of the Assignor.

4.Governing Law. This Assignment shall be governed by and construed under the laws of the State of New York, without respect to principles governing conflict of laws.

5.Successors and Assigns.This Assignment shall inure to the benefit of, and be binding upon, the heirs, executors, administrators, successors and assigns of the parties hereto.

6.Counterparts.This Assignment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute but one document.

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IN WITNESS WHEREOF, the undersigned have executed this instrument as of the day and year first above written.

LEXINGTON REALTY TRUST, a Maryland statutory real estate investment trust

By:                                                                        

Name: T. Wilson Eglin

Title: Chief Executive Officer

UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah

By:                                                                        

Name: Devon W. Olson

Title: Director – Real Estate

Exhibit B

ASSIGNMENT AND ASSUMPTION OF PARTNERSHIP INTEREST

THIS ASSIGNMENT AND ASSUMPTION OF PARTNERSHIP INTEREST (this “Assignment”) is given as of the 1st day of May 2007, by and between UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah (“Assignor”), and LEXINGTON REALTY TRUST, a Maryland statutory real estate investment trust (“Assignee”).

BACKGROUND

A.Pursuant to that certain Purchase Agreement, dated of even date herewith (the “Purchase Agreement”), between Assignor and Assignee, Assignor has agreed to assign to Assignee all of Assignor’s right, title and interest in and to Triple Net Investment L.P., a Delaware limited partnership (the “Partnership”). Such interest being assigned is hereinafter referred to as the “Assigned Interest”;

B.Assignor and Assignee desire to evidence the assignment of the Assigned Interest by Assignor and provide for the assumption of the Assigned Interest by Assignee.

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows:

1.Background.The background set forth above is hereby incorporated in this Assignment and forms a part hereof.

2.Assignment.Assignor hereby sells, transfers, assigns, conveys, sets over and confirms all of the Assigned Interest, and all of Assignor’s right, title and interest in, to and under the same, including without limitation, all rights and interests (economic and otherwise), duties, liabilities and obligations attendant thereto (whether under the Partnership Agreement (as defined in the Purchase Agreement) or otherwise), and all future, as well as all accrued and unpaid, management and/or other fees, distributions and/or other payments to which Assignor is or may become entitled, with respect to the Assigned Interest, unto the Assignee, free and clear of all liens, claims, charges or encumbrances of any kind or nature whatsoever other than the terms, covenants and provisions of the Partnership Agreement and this Agreement. Assignor hereby acknowledges and agrees that from and after the date hereof, Assignor shall have no further interest in, or claim against, the Partnership.

3.Assumption.Assignee hereby accepts the assignment by Assignor of all of Assignor’s right, title and interest in, to and under the Assigned Interest and assumes, as of the date hereof, all of the obligations of Assignor with respect to the Assigned Interest, and agrees to be bound by the terms of the Partnership Agreement as in effect from time to time. For the avoidance of doubt, Assignee has not, and this Assignment is not intended to evidence, the assumption by Assignee of any of the obligations or liabilities of a holder of the Assigned

Interest arising on or prior to the date hereof, all of which shall remain the responsibility of the Assignor.

4.Governing Law. This Assignment shall be governed by and construed under the laws of the State of New York, without respect to principles governing conflict of laws.

5.Successors and Assigns.This Assignment shall inure to the benefit of, and be binding upon, the heirs, executors, administrators, successors and assigns of the parties hereto.

6.Counterparts.This Assignment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute but one document.

[Remainder of page left blank]

IN WITNESS WHEREOF, the undersigned have executed this instrument as of the day and year first above written.

LEXINGTON REALTY TRUST, a Maryland statutory real estate investment trust

By:                                                                        

Name:

Title:

UTAH STATE RETIREMENT INVESTMENT FUND, a common trust fund created pursuant to the statutes of the State of Utah

By:                                                                        

Name:

Title:

EX-99

Exhibit 99.1

LEXINGTON REALTY TRUST TRADED: NYSE: LXP

ONE PENN PLAZA, SUITE 4015

NEW YORK NY 10119-4015

Contact:

Investor or Media Inquiries, Carol Merriman, VP Investor Relations & Corporate Development

Lexington Realty Trust

Phone: (212) 692-7264 E-mail: cmerriman@lxp.com

FOR IMMEDIATE RELEASE

Thursday, May 3, 2007

LEXINGTON REALTY TRUST REPORTS FIRST QUARTER 2007 RESULTS

New York, NY – May 3, 2007 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant real estate investments, today announced results for the first quarter ended March 31, 2007. All per share amounts are on a diluted basis.

First Quarter 2007 Highlights

• Total gross revenues of $95.2 million

• Company Funds From Operations (FFO) of $48.7 million or $0.42 per share⁽¹⁾

• 23 new and renewal leases executed, totaling 1.1 million square feet

• $78.9 million in real estate acquisitions

• $41.9 million in real estate dispositions

• $450.0 million, 5.45% Exchangeable Guaranteed Notes Due 2027 issued

• $200.0 million, 6.804% Trust Preferred Securities issued

• $155.0 million, 7.55% Series D Cumulative Redeemable Preferred Stock issued

• 1.1 million shares of Lexington Strategic Asset Corp. purchased for an aggregate of $10.7 million

• 4.1 million shares/units repurchased at an average price of $20.40 per share/unit

• $0.375 common share/unit dividend/distribution declared, a 2.7% increase over the prior quarter

 

⁽¹⁾ See the last page of this press release for a reconciliation of GAAP net income to Company FFO.

 

COMMENTS FROM MANAGEMENT

T. Wilson Eglin, President and Chief Executive Officer of Lexington Realty Trust stated, “We are pleased with our accomplishments during the first quarter, especially our leasing activity. We executed 23 leases and ended the quarter with approximately 98.0% of our square footage subject to lease. In addition, we restructured our balance sheet in order to create greater flexibility and efficiency by raising $805 million of fixed rate capital with the proceeds primarily used to retire $637.4 million of shorter term floating rate debt, and to repurchase $84.5 million of common shares/units.” Mr. Eglin continued, “We incurred an expense of $700,000 relating to the termination of an interest rate swap in connection with our debt refinancing. Other charges that impacted Company FFO were $200,000 of merger-related costs that were not capitalized, $1.3 million of accelerated amortization relating to terminating a tenant lease, and a $431,000 write-off of costs incurred related to the previously planned initial public offering of Lexington Strategic Asset Corp. With our restructured balance sheet and high occupancy levels in the portfolio, we believe we are well-positioned to implement our business plan over the balance of the year. In the current market where asset values remain high, we expect to be a more active seller of non-core properties, including our retail assets.”

Lexington Realty Trust Page 2 of 10

FINANCIAL RESULTS

Revenue

For the quarter ended March 31, 2007, total gross revenues increased 84.3% to $95.2 million, compared with total gross revenues of $51.6 million for the quarter ended March 31, 2006. The increase was primarily a result of the year-end merger with Newkirk Realty Trust, Inc.

Net Income (Loss) Allocable to Common Shareholders

For the quarter ended March 31, 2007, net income (loss) allocable to common shareholders was $(3.4) million, compared to the quarter ended March 31, 2006, which had net income allocable to common shareholders of $2.0 million, which included $2.7 million of gains on sales and $1.0 million in debt satisfaction charges. On a per share basis, net income (loss) for the quarter ended March 31, 2007, was ($0.05) compared with net income of $0.04 for the comparableperiod last year.

Company Funds From Operations Applicable to Common Shareholders

For the quarter ended March 31, 2007, Company Funds From Operations (FFO) was $48.7 million, compared with Company FFO for the quarter ended March 31, 2006 of $28.7 million which includes $1.0 million in debt satisfaction charges. On a per share basis, Company FFO was $0.42 for the quarter ended March 31, 2007, compared with $0.45 for the quarter ended March 31, 2006.

Market Capitalization

At March 31, 2007, Lexington’s total market capitalization was approximately $4.8 billion, based on the New York Stock Exchange closing price of Lexington’s common shares on March 31, 2007 and assuming the conversion of all operating partnership units and share options to common shares, the liquidation preference of preferred shares, and the principal balance of total debt outstanding. At March 31, 2007, Lexington had approximately $2.2 billion in debt outstanding, equating to a debt-to-total market capitalization of approximately 45.5%.

Dividend

On March 5, 2007, Lexington’s Board of Trustees declared a regular quarterly cash dividend/distribution of $0.375 per share/unit, which was paid on April 16, 2007, to common shareholders/unit holders of record as of April 2, 2007. The per share/unit dividend distribution was a 2.7% increase over the previous quarter and Lexington currently pays an annualized dividend of $1.50 per share.

Share Repurchase Authorization

During the quarter ended March 31, 2007, Lexington repurchased approximately 4.1 million common shares/units at an average price of $20.40 per share/unit. Subsequent to quarter end, Lexington repurchased an additional 443,000 common shares at an average price of $21.12 per share. Lexington is currently authorized by its Board of Trustees to repurchase approximately 5.4 million additional common shares/units.

Lexington Realty Trust Page 3 of 10

2007 EARNINGS GUIDANCE

Lexington reaffirmed its previously disclosed 2007, full-year per diluted share Company FFO guidance range of $1.75 to $1.85. This guidance is based on current expectations and is forward-looking.

INVESTMENT ACTIVITY

Acquisitions

During the quarter ended March 31, 2007, Lexington acquired interests in the following four real estate assets, for an aggregate purchase price of approximately $78.9 million.

Orlando, Florida

Lexington Strategic Asset Corp. (“LSAC”), a consolidated subsidiary of Lexington, acquired a single-story, 59,927 square foot educational facility in Orlando, Florida for approximately $14.3 million. The purchase by LSAC was financed with cash balances and a non-recourse first mortgage loan of $10.0 million. The loan bears interest at a fixed-rate of 5.72% and matures in 2017.

The educational facility is 100% net leased to Corinthian Colleges, Inc. with an initial lease term expiring in September 2013. The educational facility is on a 6.78 acre parcel of land located within close proximity to Orlando International Airport, the Florida Turnpike and the Beeline Expressway. Corinthian Colleges, Inc. is one of the largest post-secondary education companies in North America.

Boston, Massachusetts

Lexington acquired a ten-story, 52,337 square foot medical office building in downtown Boston, Massachusetts for approximately $20.0 million. The purchase was financed with cash balances.

The medical office building is 100% net leased to Harvard Vanguard Medical Associates with an initial lease term expiring in May 2012. The medical office building is located in downtown Boston at 147 Milk Street at Post Office Square, in close proximity to Interstates 93 and 90, Faneuil Hall Marketplace, and Boston Common. Harvard Vanguard Medical Associates is a multi-specialty medical group practice with over 500 physicians and 21 offices in Greater Boston.

Shreveport, Louisiana

Lexington acquired a 646,000 square foot distribution facility located in Shreveport, Louisiana for approximately $26.6 million. The purchase was financed with cash balances.

The distribution facility, developed in 2006, is 100% net leased to Libbey Glass, Inc. with an initial lease term expiring in October 2026. The facility is situated on a 78-acre parcel of land and can support an expansion should the tenant elect to expand. Libbey Glass, Inc. engages in the design, manufacture, marketing, and supply of tableware products primarily in the United States and Canada, as well as in Latin America, Asia, andEurope.

Dallas, Texas

Lexington acquired the Gateway Office Center, a two-story, 101,844 square feet office building, within the greater Dallas area for approximately $18.0 million. The purchase was financed with cash balances.

The office building, which is 100% net leased, has been occupied by both Brinks, Inc. and Washington Mutual. Subsequent to the purchase a lease amendment was signed with Brinks, Inc. to occupy the entire building, with an initial lease term expiring in April 2017. The Brink’s Company, through its subsidiaries, Brink’s, Incorporated and Brink’s Home Security, Inc., provides transportation and cash

Lexington Realty Trust Page 4 of 10

logistics services in North America, Europe, Middle East, and Africa.

Purchase of shares of Lexington Strategic Asset Corp.

During the quarter ended March 31, 2007, Lexington increased its investment in LSAC with the purchase of approximately 1.1 million shares of common stock of LSAC for approximately $10.7 million. As a result, Lexington and its affiliates own substantially all of the fully-diluted outstanding shares of common stock of LSAC.

Additionally, LSAC has commenced an offer to repurchase its common stock not owned by Lexington for $10.00 per share. The repurchase of common stock by LSAC will be financed from its general corporate funds.

Dispositions

During the quarter ended March 31, 2007, Lexington sold its interest in four properties for an aggregate price of $41.9 million. All the properties, which were acquired in the year end merger with Newkirk Realty Trust, Inc., were leased to Honeywell International, Inc. and located in Morris Township, New Jersey.

LEASING ACTIVITY

At March 31, 2007, Lexington’s portfolio was approximately 98.0% leased. For the quarter ended March 31, 2007, Lexington executed 23 leases (new and renewal) for approximately 1.1 million square feet.

Tenant/Guarantor	City	State	Property Type	New or Renewal	Lease Exp	Sq. Ft.
Damar Services, Inc.	Indianapolis	IN	Office	Renewal	3/31/2008	5,756
Zwicker & Associates, P.C.	Hebron	KY	Office	New	3/31/2012	12,356
Ferris, Baker Watts, Inc.	Baltimore	MD	Office	New	9/30/2016	45,909
The Center Club, Inc.	Baltimore	MD	Office	New	9/30/2019	31,306
Middleburg Riddle & Gianna	Dallas	TX	Office	Renewal	12/31/2011	2,558
Worthington Direct, Inc.	Dallas	TX	Office	Renewal	1/31/2012	3,621
General Electric Company	Richmond	VA	Office	New	5/1/2012	24,375
Packet 360, Inc.	Richmond	VA	Office	New	3/31/2014	10,273
Clegg, Daniels & Petrey, LLC	Decatur	GA	Office	New	3/31/2013	1,846
Quaker Sales & Distribution, Inc.	New Kingston	PA	Industrial	New	2/29/2008	179,200
Comprehensive Logistics Inc.	Antioch	TN	Industrial	New	8/31/2007	220,700
Comprehensive Logistics Inc.	Antioch	TN	Industrial	New	12/31/2007	80,000
Dana Corporation	Gordonsville	TN	Industrial	Renewal	8/31/2012	148,000
Mervyn’s	Tustin	CA	Retail	Renewal	12/31/2012	72,000
Kohl’s Department Stores, Inc.	Tallahassee	FL	Retail	New	2/28/2028	90,000
Safeway Stores, Inc.	Minden	LA	Retail	Renewal	11/30/2012	35,000
Food Lion, LLC	Jacksonville	NC	Retail	Renewal	2/28/2013	23,000
Food Lion, LLC	Jefferson	NC	Retail	Renewal	2/28/2013	23,000
Food Lion, LLC	Lexington	NC	Retail	Renewal	2/28/2013	23,000
Food Lion, LLC	Moncks Corner	SC	Retail	Renewal	2/28/2013	23,000
Safeway Stores, Inc.	Granbury	TX	Retail	Renewal	11/30/2012	35,000
Safeway Stores, Inc.	Hillsboro	TX	Retail	Renewal	11/30/2012	35,000
Food Lion, LLC	Staunton	VA	Retail	Renewal	2/28/2013	23,000

Lexington Realty Trust Page 5 of 10

CAPITAL MARKETS ACTIVITY

$450.0 million, 5.45% Exchangeable Guaranteed Notes

During the quarter ended March 31, 2007, one of Lexington’s operating partnership subsidiaries, The Lexington Master Limited Partnership, issued $450.0 million aggregate principal amount of 5.45% Exchangeable Guaranteed Notes Due 2027. Interest on the notes is payable semi-annually beginning on July 15, 2007.

The Lexington Master Limited Partnership used the net proceeds of approximately $439.0 million, after initial purchasers’ discounts and the payment of offering related expenses from the sale of the notes, along with other cash sources, to fully repay indebtedness under its secured credit facility, which was then terminated.

7.55% Series D Cumulative Redeemable Preferred Stock

In February, Lexington issued 6.2 million shares of its 7.55% Series D Cumulative Redeemable Preferred Stock, at a price of $25.00 per share. Net proceeds from the offering of approximately $150.0 million, after underwriters’ discounts and the payment of offering related expenses, were used to repurchase common shares, repay in full the borrowings under Lexington’s unsecured credit facility, and for general corporate purposes.

The preferred shares trade on the New York Stock Exchange under the symbol “LXP_pd”.

$200.0 million Trust Preferred Securities

In March, Lexington sold $200.0 million liquidation amount of Trust Preferred Securities through its consolidated statutory trust subsidiary, LXP Capital Trust I. Lexington holds all of the Common Securities of the subsidiary, which have a liquidation amount of $6.2 million. LXP Capital Trust I’s assets consist solely of $206.2 million of junior subordinated notes concurrently issued by Lexington with terms that mirror the Trust Preferred Securities.

The Trust Preferred Securities have a 30-year term ending April 2037, are redeemable on or after April 30, 2012, at par (plus breakage costs, if any, for redemptions before April 30, 2017) and pay distributions at a fixed rate of 6.804% for the first ten years ending April 2017 and thereafter, at a floating rate of three month LIBOR plus 1.70%. Proceeds from the issuance were used to repay existing indebtedness and, subsequent to quarter end, to purchase the 70.0% interest in Triple Net Investment Company LLC, one of Lexington’s joint venture programs, that it did not already own.

1ST QUARTER 2007 CONFERENCE CALL

On Thursday, May 3, 2007, at 2:00 p.m. Eastern Time, Lexington will host a conference call to discuss its results for the quarter ended March 31, 2007. Lexington’s remarks will be followed by a question and answer period. Interested parties may participate in this conference call by dialing (877) 407-0782 or (201) 689-8567. A taped replay of the call will be available through June 30, 2007 at (877) 660-6853, Account #: 286, Conference ID #: 238741.

A live web cast (listen-only mode) of the conference call will be available at www.lxp.com within the Investor Relations section. An online replay will also be available through June 30, 2007.

Lexington Realty Trust Page 6 of 10

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington currently pays an annualized dividend of $1.50 per share. Lexington shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s most recent annual report on Form 10-K filed with the SEC on March 1, 2007 (the “Form 10-K”) and other periodic reports filed with the SEC, including risks related to, (i) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (ii) the failure to continue to qualify as a real estate investment trust, (iii) changes in general business and economic conditions, (iv) competition, (v) increases in real estate construction costs, (vi) changes in interest rates, or (vii) changes in accessibility of debt and equity capital market. Copies of the Form 10-K and the other periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

Lexington Realty Trust Page 7 of 10

Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Statements of Operations

(in thousands, except share data)

	Three Months Ended March 31,
	2007			2006
Gross revenues:
Rental	$	88,792		$	46,125
Advisory fees		719			1,063
Tenant reimbursements		5,651			4,433
Total gross revenues		95,162			51,621
Expense applicable to revenues:
Depreciation and amortization		(54,302	)		(19,541	)
Property operating		(11,475	)		(7,697	)
General and administrative		(8,816	)		(5,614	)
Non-operating income		2,560			795
Interest and amortization expense		(32,978	)		(17,369	)
Debt satisfaction charges		—			(947	)
Income (loss) before benefit (provision) for income taxes, minority interests, equity in earnings of non-consolidated entities and discontinued operations		(9,849	)		1,248
Benefit (provision) for income taxes		(543	)		73
Minority interests share of (income) loss		7,522			(216	)
Equity in earnings of non-consolidated entities		3,508			1,268
Income from continuing operations		638			2,373
Discontinued operations:
Income from discontinued operations		2,414			1,732
Debt satisfaction charges		—			(78	)
Gains on sales of properties		—			2,653
Minority interests share of (income) loss		(837	)		(602	)
Total discontinued operations		1,577			3,705
Net income		2,215			6,078
Dividends attributable to preferred shares – Series B		(1,590	)		(1,590	)
Dividends attributable to preferred shares – Series C		(2,519	)		(2,519	)
Dividends attributable to preferred shares – Series D		(1,522	)		—
Net income (loss) allocable to common shareholders	$	(3,416	)	$	1,969
Income (loss) per common share – basic:
Loss from continuing operations, after preferred dividends	$	(0.07	)	$	(0.03	)
Income from discontinued operations		0.02			0.07
Net income (loss) allocable to common shareholders	$	(0.05	)	$	0.04
Weighted average common shares outstanding – basic		68,538,404			51,844,001
Income (loss) per common share – diluted:
Loss from continuing operations, after preferred dividends	$	(0.07	)	$	(0.03	)
Income from discontinued operations		0.02			0.07
Net income (loss) allocable to common shareholders	$	(0.05	)	$	0.04
Weighted average common shares outstanding – diluted		68,538,404			51,844,001

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Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Balance Sheets

(in thousands)

	March 31, 2007		December 31, 2006
Assets:
Real estate, at cost	$	3,774,018	$	3,747,156
Less: accumulated depreciation and amortization		305,432		276,129
		3,468,586		3,471,027
Properties held for sale – discontinued operations		86,540		69,612
Intangible assets, net		434,466		468,244
Cash and cash equivalents		200,120		97,547
Investment in and advances to non-consolidated entities		243,494		247,045
Deferred expenses, net		30,901		16,084
Notes receivable		49,382		50,534
Rent receivable – current		27,916		53,744
Rent receivable – deferred		24,600		29,410
Investment in marketable securities		24,792		32,036
Other assets		81,444		89,574
	$	4,672,241	$	4,624,857
Liabilities and Shareholders’ Equity:
Liabilities:
Mortgages and notes payable	$	1,526,813	$	2,126,810
Exchangeable notes payable, including accrued interest		450,000		—
Trust notes payable, including accrued interest		200,000		—
Contract rights payable		12,527		12,231
Dividends payable		30,412		44,948
Liabilities – discontinued operations		48,316		6,064
Accounts payable and other liabilities		24,621		25,877
Accrued interest payable		10,147		10,818
Deferred revenue		325,500		362,815
Prepaid rent		17,215		10,109
		2,645,551		2,599,672
Minority interests		839,144		902,741
Shareholders’ equity		1,187,546		1,122,444
	$	4,672,241	$	4,624,857
Common shares		66,242		69,052
Operating partnership units		40,166		41,191
Preferred shares		12,460		6,260

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Lexington Realty Trust and Consolidated Subsidiaries

Earnings Per Share and Funds from Operations Per Share

(in thousands, except share data)

		Three Months Ended March 31,
		2007	2006
EARNINGS PER SHARE:
Basic
Income from continuing operations		$         638	$         2,373
Less preferred dividends		(5,631)	(4,109)
Loss allocable to common shareholders from continuing operations - basic		(4,993)	(1,736)
Total income from discontinued operations - basic		1,577	3,705
Net (loss) income allocable to common shareholders - basic		$     (3,416)	$       1,969
Weighted average number of common shares outstanding		68,538,404	51,844,001
Per share data:
Loss from continuing operations, after preferred dividends		$       (0.07)	$        (0.03)
Income from discontinued operations		0.02	0.07
Net (loss) income allocable to common shareholders		$       (0.05)	$          0.04
Diluted
Loss allocable to common shareholders from continuing operations - basic		$      (4,993)	$     (1,736)
Adjustments:
	Incremental income attributed to assumed conversion of dilutive securities	-	-
Loss allocable to common shareholders from continuing operations - diluted		(4,993)	(1,736)
Total income from discontinued operations - diluted		1,577	3,705
Net (loss) income allocable to common shareholders - diluted		$     (3,416)	$       1,969
Weighted average number of shares used in calculation of basic earnings per share		68,538,404	51,844,001
Add incremental shares representing:
	Shares issuable upon exercise of employee share options	-	-
	Shares issuable upon conversion of dilutive interests	-	-
Weighted average number of shares used in calculation of diluted earnings per common share		68,538,404	51,844,001
Per share data:
Loss from continuing operations, after preferred dividends - diluted		$      (0.07)	$      (0.03)
Income from discontinued operations - diluted		0.02	0.07
Net (loss) income allocable to common shareholders - diluted		$      (0.05)	$         0.04

(continued)

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Lexington Realty Trust and Consolidated Subsidiaries

Earnings Per Share and Funds from Operations Per Share – (continued)

(in thousands, except share data)

		Three Months Ended March 31,
		2007	2006
COMPANY FUNDS FROM OPERATIONS: (1)
Basic and Diluted:
Net (loss) income allocable to common shareholders		$         (3,416)	$           1,969
Adjustments:
	Depreciation and amortization	54,632	20,127
	Minority interests - OP units	(7,419)	1,021
	Amortization of leasing commissions	253	139
	Joint venture adjustment - depreciation	2,114	5,482
	Preferred dividends - Series C	2,519	2,519
	Gains on sale of properties	-	(2,653)
	Taxes incurred on sale of property	-	49
Company Funds From Operations		$         48,683	$        28,653
Basic:
Weighted average shares outstanding - basic EPS		68,538,404	51,844,001
Operating Partnership Units		40,548,922	5,653,092
Preferred Shares - Series C		5,779,330	5,779,330
Weighted average shares outstanding – basic Company FFO		114,866,656	63,276,423
	Company FFO per share	$             0.42	$           0.45
Diluted:
Weighted average shares outstanding - diluted EPS		68,538,404	51,844,001
Common shares options		630	32,069
Operating Partnership Units		40,548,922	5,653,092
Preferred Shares - Series C		5,779,330	5,779,330
Weighted average shares outstanding - diluted Company FFO		114,867,286	63,308,492
	Company FFO per share	$             0.42	$           0.45

¹ Lexington believes that Funds from Operations (“FFO”) is a widely recognized and appropriate measure of the performance of an equity REIT. Lexington presents FFO because it considers FFO an important supplemental measure of Lexington’s operating performance. Lexington believes FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude generally accepted accounting principles (“GAAP”), historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real estate diminishes ratably over time. Historically, however, real estate values have risen or fallen with market conditions. As a result, FFO provides a performance measure that, when compared year over year, reflects the impact to operations from trends in occupancy rates, rental rates, operating costs, development activities, interest costs and other matters without the inclusion of depreciation and amortization, providing perspective that may not necessarily be apparent from net income.

Lexington computes FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”). FFO is defined by NAREIT as “net income (or loss) computed in accordance with GAAP, excluding gains (or losses) from sales of property, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures.” FFO does not represent cash generated from operating activities in accordance with GAAP and is not indicative of cash available to fund cash needs. FFO should not be considered as an alternative to net income as an indicator of our operating performance or as an alternative to cash flow as a measure of liquidity.

Lexington includes in its calculation of FFO, which Lexington refers to as the “Company’s funds from operations” or “Company FFO,” Lexington’s operating partnership units and Lexington’s Series C Cumulative Convertible Preferred Shares because these securities are convertible, at the holder’s option, into Lexington’s common shares. Management believes this is appropriate and relevant to securities analysts, investors and other interested parties because Lexington presents Company FFO on a company-wide basis as if all securities that are convertible, at the holder’s option, into Lexington’s common shares, are converted. Since others do not calculate FFO in a similar fashion, Company FFO may not be comparable to similarly titled measures as reported by others.

# # #

EX-99

Exhibit 99.2

Quarterly Earnings and

Supplemental Operating and Financial Data

For the Quarter Ended March 31, 2007

LEXINGTON REALTY TRUST

SUPPLEMENTAL REPORTING PACKAGE

For the three months ended March 31, 2007

Table of Contents

Statements of Operations	3
Balance Sheets	4
Combined Joint Venture Income Statement	5
First Quarter Transaction Summary	6
Property Holdings	8
Lease Rollover Schedules	21
Mortgages and Notes Payable	23
Revenue by Tenant Industry	29
Revenue by MSA	30
Other Revenue Data	31
Investor Information	32

This Quarterly Earnings and Supplemental Operating and Financial Data contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the control of Lexington Realty Trust (“Lexington”) which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in Lexington’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 1, 2007 (the “Form 10-K”) and other periodic reports filed with the SEC, including risks related to, (i) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (ii) the failure to continue to qualify as a real estate investment trust, (iii) changes in general business and economic conditions, (iv) competition, (v) increases in real estate construction costs, (vi) changes in interest rates, or (vii) changes in accessibility of debt and equity capital market. Copies of the Form 10-K and the other periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Lexington’s future plans, strategies and expectations, are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “estimates,” “projects” or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Statements of Operations

(in thousands, except share data)

	Three Months Ended March 31,
	2007			2006
Gross revenues:
Rental	$	88,792		$	46,125
Advisory fees		719			1,063
Tenant reimbursements		5,651			4,433
Total gross revenues		95,162			51,621
Expense applicable to revenues:
Depreciation and amortization		(54,302	)		(19,541	)
Property operating		(11,475	)		(7,697	)
General and administrative		(8,816	)		(5,614	)
Non-operating income		2,560			795
Interest and amortization expense		(32,978	)		(17,369	)
Debt satisfaction charges		—			(947	)
Income (loss) before benefit (provision) for income taxes, minority interests, equity in earnings of non-consolidated entities and discontinued operations		(9,849	)		1,248
Benefit (provision) for income taxes		(543	)		73
Minority interests share of (income) loss		7,522			(216	)
Equity in earnings of non-consolidated entities		3,508			1,268
Income from continuing operations		638			2,373
Discontinued operations:
Income from discontinued operations		2,414			1,732
Debt satisfaction charges		—			(78	)
Gains on sales of properties		—			2,653
Minority interests share of (income) loss		(837	)		(602	)
Total discontinued operations		1,577			3,705
Net income		2,215			6,078
Dividends attributable to preferred shares – Series B		(1,590	)		(1,590	)
Dividends attributable to preferred shares – Series C		(2,519	)		(2,519	)
Dividends attributable to preferred shares – Series D		(1,522	)		—
Net income (loss) allocable to common shareholders	$	(3,416	)	$	1,969
Income (loss) per common share – basic:
Loss from continuing operations, after preferred dividends	$	(0.07	)	$	(0.03	)
Income from discontinued operations		0.02			0.07
Net income (loss) allocable to common shareholders	$	(0.05	)	$	0.04
Weighted average common shares outstanding – basic		68,538,404			51,844,001
Income (loss) per common share – diluted:
Loss from continuing operations, after preferred dividends	$	(0.07	)	$	(0.03	)
Income from discontinued operations		0.02			0.07
Net income (loss) allocable to common shareholders	$	(0.05	)	$	0.04
Weighted average common shares outstanding – diluted		68,538,404			51,844,001

Page 3

Lexington Realty Trust and Consolidated Subsidiaries

Consolidated Balance Sheets

(in thousands)

	March 31, 2007		December 31, 2006
Assets:
Real estate, at cost	$	3,774,018	$	3,747,156
Less: accumulated depreciation and amortization		305,432		276,129
		3,468,586		3,471,027
Properties held for sale – discontinued operations		86,540		69,612
Intangible assets, net		434,466		468,244
Cash and cash equivalents		200,120		97,547
Investment in and advances to non-consolidated entities		243,494		247,045
Deferred expenses, net		30,901		16,084
Notes receivable		49,382		50,534
Rent receivable – current		27,916		53,744
Rent receivable – deferred		24,600		29,410
Investment in marketable securities		24,792		32,036
Other assets		81,444		89,574
	$	4,672,241	$	4,624,857
Liabilities and Shareholders’ Equity:
Liabilities:
Mortgages and notes payable	$	1,526,813	$	2,126,810
Exchangeable notes payable, including accrued interest		450,000		—
Trust notes payable, including accrued interest		200,000		—
Contract rights payable		12,527		12,231
Dividends payable		30,412		44,948
Liabilities – discontinued operations		48,316		6,064
Accounts payable and other liabilities		24,621		25,877
Accrued interest payable		10,147		10,818
Deferred revenue		325,500		362,815
Prepaid rent		17,215		10,109
		2,645,551		2,599,672
Minority interests		839,144		902,741
Shareholders’ equity		1,187,546		1,122,444
	$	4,672,241	$	4,624,857
Common shares		66,242		69,052
Operating partnership units		40,166		41,191
Preferred shares		12,460		6,260

Page 4

LexingtonRealtyTrust
JointVentureProportionateShare
CombinedCondensedStatementofIncome
		Three Months Ended
		March 31, 2007
	Gross revenues	$                           13,918
	Depreciation and amortization	$                             5,305
	Interest and amortization	$                             8,170
	Other income and expenses	$                           (2,970)
	Expenses	$                           10,505
	Net income	$                             3,413

Page 5

LexingtonRealtyTrust

2007FirstQuarterTransactionSummary

($000)

Acquisitions

Tenants/Guarantors

Location

Property Type

CapitalizedCosts

AverageAnnual GAAPRent,net

Average GAAPYield

Current AnnualCash Rent,net

Current CashYield

Lease Term

Corinthian Colleges, Inc.

Orlando

FL

Office

$            14,320

$              1,222

8.5%

$      1,184

8.3%

Sep-2013

Libbey Glass, Inc.

Shreveport

LA

Industrial

$            26,678

$              2,092

7.8%

$      1,873

7.0%

Oct-2026

Harvard Vanguard Medical Assoc.

Boston

MA

Office

$            20,070

$              1,246

6.2%

$      1,229

6.1%

May-2012

Brinks, Inc.

Coppell

TX

Office

$            18,082

$              1,426

7.9%

$      1,204

6.7%

Apr-2017

$            79,150

$              5,986

7.6%

$      5,490

6.9%

Dispositions

Tenants/Guarantors

Location

Property Type

NetSalePrice

NetBookValue

Honeywell International Inc.

Morris Township

NJ

Office

$            11,967

$            11,967

Honeywell International Inc.

Morris Township

NJ

Office

$              1,470

$              1,470

Honeywell International Inc.

Morris Township

NJ

Office

$              9,768

$              9,768

Honeywell International Inc.

Morris Township

NJ

Office

$            18,689

$            18,689

$            41,894

$            41,894

NewPropertyFinancings

Tenants/Guarantors

Location

Property Type

Amount

InterestRate

MaturityDate

Corinthian Colleges, Inc.

Orlando

FL

Office

$              9,975

5.72%

Feb-2017

Atlas Cold Storage

McDonough

GA

Industrial

$            23,000

6.11%

Nov-2017

Hagemeyer North American, Inc.

Charleston

SC

Office

$              7,350

5.85%

Feb-2021

$            40,325

5.97%

Page 6

Lexington Realty Trust

2007 First Quarter Transaction Summary (continued)

($000)

NewLeases
Tenants/Guarantors	Location		PropertyType	Term	Sq.Ft.	RentPerAnnum
Kohl’s Department Stores, Inc.	Tallahassee	FL	Retail	Feb-2028	90,000	$         400
Zwicker & Associates, P.C.	Hebron	KY	Office	Mar-2012	12,356	$           62
Ferris, Baker Watts, Inc.	Baltimore	MD	Office	Sep-2016	45,909	$      1,277
The Center Club, Inc.	Baltimore	MD	Office	Sep-2019	31,306	$         612
Quaker Sales & Distribution, Inc.	New Kingston	PA	Industrial	Feb-2008	179,200	$         627
Comprehensive Logistics Inc.	Antioch	TN	Industrial	8/07 & 12/07	300,700	$         942
General Electric Company	Richmond	VA	Office	May-2012	24,375	$         439
Clegg, Daniels & Petrey, LLC	Decatur	GA	Office	Mar-2013	1,846	$           40
Packet 360, Inc.	Richmond	VA	Office	Mar-2014	10,273	$         190
					695,965	$      4,589
LeaseExtensions
Tenants/Guarantors	Location		PropertyType	Term	Sq.Ft.	RentPerAnnum
Mervyn’s	Tustin	CA	Retail	Dec-2012	72,000	$         100
Damar Services, Inc.	Indianapolis	IN	Office	Mar-2008	5,756	$           40
Safeway Stores, Inc.	Minden	LA	Retail	Nov-2012	35,000	$         193
Food Lion, LLC	Jacksonville	NC	Retail	Feb-2013	23,000	$           84
Food Lion, LLC	Jefferson	NC	Retail	Feb-2013	23,000	$           73
Food Lion, LLC	Lexington	NC	Retail	Feb-2013	23,000	$         138
Food Lion, LLC	Moncks Corner	SC	Retail	Feb-2013	23,000	$           62
Dana Corporation	Gordonsville	TN	Industrial	Aug-2012	148,000	$         355
Worthington Direct, Inc.	Dallas	TX	Office	Jan-2012	3,621	$           53
Middleburg Riddle & Gianna	Dallas	TX	Office	Dec-2011	2,558	$           35
Safeway Stores, Inc.	Granbury	TX	Retail	Nov-2012	35,000	$         203
Safeway Stores, Inc.	Hillsboro	TX	Retail	Nov-2012	35,000	$         161
Food Lion, LLC	Staunton	VA	Retail	Feb-2013	23,000	$         166
					451,935	$      1,663

Page 7

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
1	12209 W. Markham St.	Little Rock	AR	Entergy Arkansas, Inc.	36,311
2	5201 West Barraque St.	Pine Bluff	AR	Entergy Services, Inc.	27,189
3	19019 No. 59th Ave.	Glendale	AZ	Honeywell, Inc.	252,300
4	2211 South 47th St.	Phoenix	AZ	Avnet, Inc.	176,402
5	13430 N. Black Canyon Fwy.	Phoenix	AZ	Bull HN Information Systems, Inc.	87,259
				VACANT	49,799
6	2005 East Technology Cir.	Tempe	AZ	(i) Structure, LLC (Infocrossing, Inc.)	60,000
7	8555 South River Pkwy.	Tempe	AZ	ASM Lithography Holding NV	95,133
8	1440 East 15th St.	Tucson	AZ	Cox Communications, Inc.	28,591
9	2200 & 2222 East Imperial Hwy. 3	El Segundo	CA	Raytheon Company	184,636
10	2230 East Imperial Hwy. 1	El Segundo	CA	Raytheon Company/Direct TV	184,636
11	17770 Cartwright Rd.	Irvine	CA	Associates First Capital Corporation	200,000
12	26210 and 26220 Enterprise Court	Lake Forest	CA	Apria Healthcare Group, Inc.	100,012
13	1500 Hughes Way	Long Beach	CA	Raytheon Company	478,437
14	27016 Media Center Dr.	Los Angeles	CA	Playboy Enterprises, Inc.	83,252
15	5724 W. Las Positas Blvd.	Pleasanton	CA	NK Leasehold	41,760
16	255 California St.	San Francisco	CA	Multi-Tenanted	142,239
				VACANT	27,607
17	599 Ygnacio Valley Rd.	Walnut Creek	CA	Hercules Credit, Inc.	54,528
18	5550 Tech Center Dr.	Colorado Spring	CO	Federal Express Corporation	71,000
19	3940 South Teller St.	Lakewood	CO	Travelers Express, Inc	68,165
20	10 John St.	Clinton	CT	Chesebrough Ponds (Unilever United States, Inc.)	41,188
21	200 Executive Blvd. S	Southington	CT	Hartford Fire Insurance Co.	153,364
22	100 Barnes Rd.	Wallingford	CT	Minnesota Mining and Manufacturing Company	44,400
23	5600 Broken Sound Blvd	Boca Raton	FL	Océ Printing Systems USA, Inc.	143,290
24	12600 Gateway Blvd.	Fort Meyers	FL	Gartner, Inc.	62,400
25	2310 Village Square Pkwy.	Jacksonville	FL	AmeriCredit Corporation	85,000
26	9200 South Park Center Loop	Orlando	FL	Corinthian Colleges, Inc.	59,927
27	6277 Sea Harbor Dr.	Orlando	FL	Harcourt Brace & Company	357,280
28	Sandlake Rd./Kirkman Rd.	Orlando	FL	Lockheed Martin Corporation	184,000
29	4200 RCA Blvd.	Palm Beach Gardens	FL	The Wackenhut Corp.	114,518
30	10419 North 30th St.	Tampa	FL	Time Customer Service, Inc. (Time, Inc.)	132,981
31	6303 Barfield Rd. & 859 Mount Vernon Hwy.	Atlanta	GA	Internet Security Systems, Inc.	289,000

Page 8

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
32	4000 Johns Creek Pkwy.	Atlanta	GA	Kraft Foods N.A., Inc.	87,219
33	160 Clairemont Ave.	Decatur	GA	Allied Holdings, Inc.	112,248
34	King St.	Honolulu	HI	Multi –Tenanted	206,535
				VACANT	5,296
35	1275 NW 128th St.	Clive	IA	Principal Life Insurance Company	61,180
36	850-950 Warrenville Rd.	Lisle	IL	National Louis University	99,414
37	700 Oakmont Lane	Westmont	IL	North American Van Lines, Inc. (SIRVA, Inc.)	269,715
38	500 Jackson St.	Columbus	IN	Cummins Engine Company Inc.	390,100
39	5757 Decatur Blvd.	Indianapolis	IN	Allstate Insurance Co.	89,956
40	10475 Crosspoint Blvd.	Indianapolis	IN	John Wiley & Sons, Inc.	141,047
41	2300 Litton Lane	Hebron	KY	AGC Automotive Americas Co.	30,706
				VACANT	49,714
42	313 Carondelet	New Orleans	LA	Hibernia Corporation	222,432
43	1111 Tulane St.	New Orleans	LA	Hibernia Corporation	180,595
44	147 Milk St.	Boston	MA	Harvard Vanguard Medical Assoc.	52,337
45	270 Billerica Rd.	Chelmsford	MA	Cadence Design Systems	100,000
46	33 Commercial St.	Foxboro	MA	Invensys Systems, Inc. (Siebe, Inc.)	164,689
47	70 Mechanic St.	Foxboro	MA	Invensys Systems, Inc. (Siebe, Inc.)	251,914
48	250 Turnpike Rd.	Southborough	MA	Honeywell Consumer Products	57,698
49	100 Light St.	Baltimore	MD	St. Paul Fire and Marine Insurance Co.	530,000
50	3165 McKelvey Rd.	Bridgeton	MO	BJC Health System	52,994
51	27404 Drake Rd.	Farmington Hills	MI	VACANT	111,454
52	12000 Tech Center Dr.	Livonia	MI	Kelsey-Hayes Company	80,230
53	26555 Northwestern Hwy.	Southfield	MI	Federal-Mogul Corporation	187,163
54	3943 Denny Ave.	Pascagoula	MS	Northrop Grumman Systems Corporation	94,841
55	11707 Miracle Hills Dr.	Omaha	NE	(i) Structure, LLC (Infocrossing, Inc.)	86,800
56	700 US Hwy Route 202-206	Bridgewater	NJ	Biovail Pharmaceuticals, Inc.	115,558
57	200 Milik St.	Carteret	NJ	Pathmark Stores, Inc.	96,400
58	288 North BRd. St.	Elizabeth	NJ	Bank of America	30,000
59	656 Plainsboro Rd.	Plainsboro	NJ	Bank of America	2,000
60	333 Mt. Hope Ave.	Rockway	NJ	BASF Corporation	95,500
61	1415 Wyckoff Rd.	Wall Township	NJ	New Jersey Natural Gas Co.	157,511
62	29 South Jefferson Rd.	Whippany	NJ	CAE SimuFlite, Inc.	76,363
63	6226 West Sahara Ave.	Las Vegas	NV	Nevada Power Company	282,000
64	180 South Clinton St.	Rochester	NY	Frontier Corporation	226,000
65	5550 Britton Pkwy.	Hilliard	OH	BMW Financial Services NA, LLC	220,966
66	9333 Springsboro Pike	Miamisburg	OH	Reed Elsevier, Inc.	61,229

Page 9

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
	CONSOLIDATED OFFICE PROPERTIES
67	9393 Springsboro Pike	Miamisburg	OH	Reed Elsevier, Inc.	85,873
68	4848 129th East Ave.	Tulsa	OK	Metris Companies, Inc.	101,100
69	2999 SW 6th St.	Redmond	OR	Voice Stream PCS I LLC (T-Mobile USA, Inc.)	77,484
70	265 Lehigh St.	Allentown	PA	Wachovia Bank N.A.	71,230
71	180 Rittenhouse Cir.	Bristol	PA	Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)	96,000
72	250 Rittenhouse Cir.	Bristol	PA	Jones Apparel Group USA, Inc. (Jones Apparel Group, Inc.)	255,019
73	2550 Interstate Dr.	Harrisburg	PA	AT&T Wireless Services, Inc.	81,859
74	1701 Market St.	Philadelphia	PA	Morgan Lewis & Bockius LLC	321,815
75	2750 Monroe Blvd.	Valley Forge	PA	Quest Diagnostics, Inc.	109,281
76	1460 Tobias Gadsen Blvd.	Charleston	SC	Hagemeyer North American, Inc.	50,076
77	2210 Enterprise Dr.	Florence	SC	Washington Mutual Home Loans, Inc.	177,747
78	3480 Stateview Blvd.	Fort Mill	SC	Wells Fargo Bank N.A.	169,218
79	3476 Stateview Blvd.	Fort Mill	SC	Wells Fargo Home Mortgage, Inc.	169,083
80	701 Brookfield Pkwy.	Greenville	SC	Verizon Wireless	192,884
81	Nijborg 15 & 17, 3927 DA	Renswoude	Netherlands	AS Watson (Health & Beauty Continental Europe)	122,450
82	207 Mockingbird Lane	Johnson City	TN	Sun Trust Bank	63,800
83	420 Riverport Rd.	Kingport	TN	American Electric Power	42,770
84	2401 Cherahala Blvd.	Knoxville	TN	Advance PCS, Inc.	59,748
85	1409 Centerpoint Blvd.	Knoxville	TN	Alstom Power, Inc.	84,404
86	104 & 110 South Front St.	Memphis	TN	Hnedak Bobo Group, Inc.	37,229
87	3965 Airways Blvd.	Memphis	TN	Federal Express Corporation	521,286
88	800 Ridgelake Blvd.	Memphis	TN	The Kroger Co.	75,000
89	350 Pine St.	Beaumont	TX	Entergy Gulf States	427,104
90	3535 Calder Ave.	Beaumont	TX	Wells Fargo & Co.	49,689
91	1900 L. Don Dodson Dr.	Bedford	TX	VACANT	206,905
92	4201 Marsh Lane	Carrollton	TX	Carlson Restaurants Worldwide, Inc.	130,000
93	555 Dividend Dr.	Coppell	TX	Brinks, Inc.	101,844
94	601 & 701 Experian Pkwy.	Dallas	TX	Experian Information Solutions, Inc. (TRW Inc.)	292,700

Page 10

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
95	1600 Viceroy Dr.	Dallas	TX	TFC Services (Freeman Decorating Co.)	156,592
				VACANT	92,860
96	2010 Alderson Dr.	Dallas	TX	Multi-Tenanted	104,243
				VACANT	69,612
97	1200 Jupiter Rd.	Garland	TX	Raytheon Company	278,759
98	10001 Richmond Ave.	Houston	TX	Baker Hughes, Inc.	554,385
99	2529 West Thorns Dr.	Houston	TX	Baker Hughes, Inc.	65,500
100	810 & 820 Gears Rd.	Houston	TX	IKON Office Solutions, Inc.	157,790
101	16676 Northchase Dr.	Houston	TX	Kerr-McGee Oil and Gas Corporation	101,111
102	26410 McDonald Rd.	Houston	TX	Montgomery County Management Company LLC	41,000
103	1311 Broadfield Blvd.	Houston	TX	Transocean Offshore Deepwater Drilling, Inc. (Transocean Sedco Forex, Inc.)	155,991
104	6200 Northwest Pkwy.	San Antonio	TX	PacifiCare Health Systems, Inc.	142,500
105	12645 W. Airport Rd.	Sugar Land	TX	Baker Hughes, Inc.	165,836
106	11555 University Blvd.	Sugarland	TX	KS Management Services, LLP (St. Luke’s Episcopal Health System Corporation)	72,683
107	1600 Eberhardt Rd.	Temple	TX	Nextel of Texas	108,800
108	295 Chipeta Way	Salt Lake City	UT	Northwest Pipeline Corp.	295,000
109	400 Butler Farm Rd.	Hampton	VA	Nextel Communications of the Mid-Atlantic, Inc.	100,632
110	421 Butler Farm Rd.	Hampton	VA	Nextel Communications of the Mid-Atlantic, Inc. (Nextel Finance Company)	56,515
111	13651 McLearen Rd.	Herndon	VA	Boeing North American Services, Inc. (The Boeing Company)	159,664
112	2800 Waterford Lake Dr.	Richmond	VA	Alstom Power, Inc	99,057
113	9950 Mayland Dr.	Richmond	VA	Circuit City Stores, Inc.	288,562
114	6455 State Hwy 303 NE	Bremerton	WA	Nextel West Corporation	60,200
115	849 Front St.	Evanston	WY	Multi-Tenanted	13,852
				VACANT	8,442
115	Consolidated Office Properties Total				16,719,592

Page 11

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
	CONSOLIDATED INDUSTRIAL PROPERTIES
1	Moody Commuter & Tech Park	Moody	AL	TNT Logistics North America, Inc. (TPG N.V.)	595,346
2	3501 West Ave. H	Lancaster	CA	Michaels Stores, Inc.	762,775
3	1665 Hughes Way	Long Beach	CA	Raytheon Company	200,541
4	3333 Coyote Hill Rd.	Palo Alto	CA	Xerox Corporation	123,000
5	109 Stevens St.	Jacksonville	FL	Unisource Worldwide, Inc	168,800
6	2455 Premier Dr.	Orlando	FL	Walgreen Co.	205,016
7	3102 Queen Palm Dr.	Tampa	FL	Time Customer Service, Inc. (Time, Inc.)	229,605
8	359 Gateway Dr.	Livonia	GA	TI Group Automotive Systems, LLC	133,221
9	1420 Greenwood Rd.	McDonough	GA	Atlas Cold Storage America LLC	201,583
10	7500 Chavenelle Rd.	Dubuque	IA	The McGraw-Hill Companies, Inc.	330,988
11	2280 Northeast Dr.	Waterloo	IA	Ryder Integrated Logistics, Inc. (Ryder Systems, Inc.)	276,480
12	3600 Southgate Dr.	Danville	IL	Sygma Network, Inc. (Sysco Corporation)	149,500
13	749 Southrock Dr.	Rockford	IL	Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)	150,000
14	3686 South Central Ave.	Rockford	IL	Jacobson Warehouse Company, Inc. (Jacobson Transportation Company, Inc.)	90,000
15	2935 Van Vactor Way	Plymouth	IN	Bay Valley Foods, LLC	300,500
16	10000 Business Blvd.	Dry Ridge	KY	Dana Corporation	336,350
17	750 N. Black Branch Rd.	Elizabethtown	KY	Dana Corporation	539,592
18	730 N. Black Branch Rd.	Elizabethtown	KY	Dana Corporation	167,770
19	301 Bill Breyer Rd.	Hopkinsville	KY	Dana Corporation	424,904
20	4010 Airpark Dr.	Owensboro	KY	Dana Corporation	251,041
21	1901 Ragu Dr.	Owensboro	KY	Ragu Foods, Inc (Unilever United States, Inc.)	443,380
22	7150 Exchequer Dr.	Baton Rouge	LA	Corporate Express Office Products, Inc. (Buhrmann, N.V.)	79,086
23	5001 Greenwood Rd.	Shreveport	LA	Libbey Glass, Inc.	646,000
24	North Wells Rd.	North Berwick	ME	United Technologies Corp.	820,868
25	4425 Purks Rd.	Auburn Hills	MI	VACANT	183,717
26	6938 Elm Valley Dr.	Kalamazoo	MI	Dana Corporation	150,945
27	12025 Tech Center Dr.	Livonia	MI	Kelsey-Hayes Company	100,000
28	1601 Pratt Ave.	Marshall	MI	Joseph Campbell Company	58,300
29	904 Industrial Rd.	Marshall	MI	Tenneco Automotive Operating Company, Inc. (Tenneco Automotive, Inc.)	195,640
30	46600 Port St.	Plymouth	MI	Johnson Controls, Inc.	134,160
31	1901 49th Ave.	Minneapolis	MN	Owens Corning	18,620
32	7670 Hacks Cross Rd.	Olive Branch	MS	Dana Corporation	268,100
33	324 Industrial Park Rd.	Franklin	NC	SKF USA, Inc.	72,868

Page 12

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Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
34	1133 Poplar Creek Rd.	Henderson	NC	Corporate Express Office Products, Inc. (Buhrmann, N.V.)	196,946
35	250 Swathmore Ave.	High Point	NC	Steelcase, Inc.	244,851
36	2880 Kenny Biggs Rd.	Lumberton	NC	Quickie Manufacturing Corp.	308,000
37	2203 Sherrill Dr.	Statesville	NC	LA-Z-Boy Greensboro, Inc. (LA-Z-Boy Incorporated)	639,600
38	75 North St.	Saugerties	NY	Rotron Inc. (EG&G)	52,000
39	10590 Hamilton Ave.	Cincinnati	OH	The Hillman Group, Inc.	247,000
40	300 McCormick Rd.	Columbus	OH	Ameritech Services, Inc.	20,000
41	1650-1654 Williams Rd.	Columbus	OH	ODW Logistics, Inc..	744,800
42	7005 Cochran Rd.	Glenwillow	OH	Royal Appliance Mfg. Co.	458,000
43	6500 Adelaide Court	Groveport	OH	Anda Pharmaceuticals, Inc. (Andrx Corporation)	354,676
44	200 Arrowhead Dr.	Hebron	OH	Owens Corning Sales, Inc.	400,522
45	191 Arrowhead Dr.	Hebron	OH	Owens Corning Sales, Inc.	250,410
46	450 Stern St.	Oberlin	OH	Johnson Controls, Inc.	111,160
47	541 Perkins Jones Rd.	Warren	OH	Kmart Corp.	1,462,642
48	6345 Brackbill Blvd.	Mechanicsburg	PA	Exel Logistics, Inc. (NFC plc)	507,000
49	245 Salem Church Rd.	Mechanicsburg	PA	Exel Logistics, Inc. (NFC plc)	252,000
50	6 Doughten Rd.	New Kingston	PA	Exel Logistics, Inc. (NFC plc)	330,000
51	34 East Main St.	New Kingston	PA	Quaker Sales & Distribution, Inc.	179,200
52	590 Ecology Lane	Chester	SC	Owens Corning	420,597
53	159 Farley Dr.	Dillon	SC	Harbor Freight Tools USA, Inc. (Central Purchasing, Inc.)	1,010,859
54	US Hwy. 17	North Myrtle Beach	SC	Food Lion, Inc.	36,828
55	477 Distribution Pkwy.	Collierville	TN	Federal Express Corporation	120,000
56	900 Industrial Blvd.	Crossville	TN	Dana Corporation	222,200
57	120 South East Pkwy. Dr.	Franklin	TN	United Technologies Corp.	289,330
58	187 Spicer Dr.	Gordonsville	TN	Dana Corporation	148,000
59	3350 Miac Cove Rd.	Memphis	TN	Mimeo.com, Inc.	107,400
				VACANT	33,959
60	3456 Meyers Ave.	Memphis	TN	Sears, Roebuck & Company	780,000
61	3820 Micro Dr.	Millington	TN	Ingram Micro, L.P (Ingram Micro, Inc)	701,819
62	9110 Grogans Mill Rd.	Houston	TX	Baker Hughes, Inc.	275,750
63	300 Bennett Lane	Lewisville	TX	Xerox Corporation	256,000
64	19500 Bulverde Rd.	San Antonio	TX	Harcourt Brace & Company (Reed Elsevier, Inc.)	559,258
65	2425 Hwy. 77 North	Waxahachie	TX	James Hardie Building Products, Inc. (James Hardie NV)	425,816
66	4400 State Rd. 19	Windsor	WI	Walgreen Co.	356,000
66	Consolidated Industrial Properties Total				21,311,319

Page 13

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
	CONSOLIDATED RETAIL/OTHER PROPERTIES
1	302 Croxcreek Pkwy.	Florence	AL	The Kroger Co.	42,130
2	5544 Atlanta Hwy.	Montgomery	AL	Beasley Development LLC	60,698
3	Bisbee Naco Hwy. & Hwy. 92	Bisbee	AZ	Safeway Stores, Inc..	30,181
4	25 E. McKellips Rd.	Mesa	AZ	CSK Auto (Albertsons Inc.)	2,660
5	10415 Grande Ave.	Sun City	AZ	Furrs Cafeterias Operators LP	10,000
6	Grant Rd. & Craycroft	Tucson	AZ	Safeway Stores, Inc.	37,268
7	7470 El Camino Real	Atascadero	CA	CSK Auto (Albertsons Inc.)	4,000
8	635 Highland Spring Rd.	Beaumont	CA	CSK Auto (Albertsons Inc.).	4,000
9	185 Washburn Cir.	Corona	CA	Mark C. Bloome (Goodyear)	9,400
10	2200/2230 & 2222 E. Imperial Hwy. 2	El Segundo	CA	Raytheon Company	959,000
11	810124 Hwy. 111	Indio	CA	Mark C. Bloome (Goodyear)	9,600
12	24100 Laguna Hills Mall	Laguna Hills	CA	Federated Department Stores, Inc. (Macy's)	160,000
13	22765 Aspan St.	Lake Forest	CA	Mark C. Bloome (Goodyear)	10,250
14	Old Mammoth Rd./Meridian Blvd	Mammoth Lakes	CA	Safeway Stores, Inc.	44,425
15	15745 Monterey Rd.	Morgan Hill	CA	Gerard Tire Services (Goodyear)	10,250
16	2044 West Main St.	Paso Robles	CA	CSK Auto (Albertsons Inc.)	7,000
17	1400 Stoneridge Mall	Pleasanton	CA	Federated Department Stores, Inc. (Macy's)	175,000
18	1631 West Redlands Blvd.	Redlands	CA	Mark C. Bloome (Goodyear)	11,200
19	270 Fashion Valley Rd.	San Diego	CA	Nordstrom, Inc.	225,919
20	315 Colorado Ave.	Santa Monica	CA	Federated Department Stores, Inc. (Macy's)	150,000
21	121 South Center St.	Stockton	CA	Greyhound Lines, Inc.	17,000
22	18182 Irvine Blvd.	Tustin	CA	Mervyn’s	72,000
23	34734 Alvarado Niles Rd.	Union City	CA	Gerard Tire Services (Goodyear)	10,800
24	500 East Harbor Blvd.	Ventura	CA	City of San Buenaventura	39,600
25	17005 Imperial Hwy.	Yorba Linda	CA	Mark C. Bloome (Goodyear)	10,800
26	12000 East Mississippi Ave.	Aurora	CO	Safeway Stores, Inc.	24,000
27	15220 East 6th Ave.	Aurora	CO	VACANT	41,384
28	101 Creger	Ft. Collins	CO	Lithia Motors	10,000
29	Kipling St. & Bowles Ave.	Littleton	CO	VACANT	29,360
30	10340 U.S. 19	Port Richey	FL	VACANT	53,820
31	2010 Apalachee Pkwy.	Tallahassee	FL	Kohl's Department Stores, Inc.	53,820
32	2223 North Druid Hills Rd.	Atlanta	GA	Bank of America	6,260
33	956 Ponce de Leon Ave.	Atlanta	GA	Bank of America	3,900
34	4545 Chamblee – Dunwoody Rd.	Chamblee	GA	Bank of America	4,565
35	201 West Main St.	Cumming	GA	Bank of America	14,208

Page 14

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
36	3468 Georgia Hwy. 120	Duluth	GA	Bank of America	9,300
37	1066 Main St.	Forest Park	GA	Bank of America	14,859
38	825 Southway Dr.	Jonesboro	GA	Bank of America	4,894
39	1698 Mountain Indus. Blvd.	Stone Mountain	GA	Bank of America	5,704
40	Fort St. Mall, King St.	Honolulu	HI	Liberty House, Inc.	85,610
41	928 First Ave.	Rock Falls	IL	Rock Falls County Market	27,650
42	502 East Carmel Dr.	Carmel	IN	Marsh Supermarkets, Inc.	38,567
43	5104 North Franklin Rd.	Lawrence	IN	Marsh Supermarkets, Inc.	28,721
44	2440 Bardstown Rd. (Supermarket)	Louisville	KY	The Kroger Co.	40,019
45	2440 Bardstown Rd.	Louisville	KY	The Kroger Co.	9,600
46	205 Homer Rd.	Minden	LA	Safeway Stores, Inc.	35,000
47	7200 Cradle Rock Way	Columbia	MD	GFS Realty, Inc.	57,209
48	9580 Livingston Rd.	Oxon Hill	MD	GFS Realty, Inc. (Giant Food, Inc.)	107,337
49	2401 Wooton Pkwy.	Rockville	MD	GFS Realty, Inc. (Giant Food, Inc.)	51,682
50	35400 Cowan Rd.	Westland	MI	Sam’s Real Estate Business Trust	102,826
51	24th St. West & St. John’s Ave.	Billings	MT	Safeway Stores, Inc.	40,800
52	Little Rock Rd./Tuckaseegee Rd.	Charlotte	NC	Food Lion, Inc.	33,640
53	Brown Mill Rd./US 601	Concord	NC	Food Lion, Inc.	32,259
54	Gum Branch Rd.	Jacksonville	NC	Food Lion, Inc.	23,000
55	US 221 & Hospital Rd.	Jefferson	NC	Food Lion, Inc.	23,000
56	291 Talbet Blvd.	Lexington	NC	Food Lion, Inc.	23,000
57	Julian Ave./Clominger St.	Thomasville	NC	Food Lion, Inc.	21,000
58	10 South Ave.	Garwood	NJ	Pathmark Stores, Inc.	52,000
59	2910 Juan Tabo Blvd.	Albuquerque	NM	Safeway Stores, Inc.	35,000
60	900 South Canal St..	Carlsbad	NM	Furrs Cafeterias Operators LP	10,000
61	2404 West Main St.	Farmington	NM	CSK Auto (Albertsons Inc.)	3,030
62	2520 E. Bonanza Rd.	Las Vegas	NV	CSK Auto (Albertsons Inc.)	2,800
63	130 Midland Ave.	Portchester	NY	Pathmark Stores, Inc.	59,000
64	4831 Whipple Ave., N.W.	Canton	OH	Best Buy Co., Inc.	46,350
65	4733 Hills & Dales Rd.	Canton	OH	Scandinavian Health Spa, Inc. (Bally Total Fitness Corp.)	37,214
66	1606 North Bend Rd.	Cincinnati	OH	VACANT	25,628
67	2000 East Main St.	Columbus	OH	The Kroger Co.	34,019
68	1084 East Second St.	Franklin	OH	Marsh Supermarkets, Inc.	29,119
69	N.E.C. 45th St./Lee Blvd.	Lawton	OK	Safeway Stores, Inc.	30,757
70	11411 N. Kelly Ave.	Oklahoma City	OK	American Golf Corporation	13,924
71	6910 S. Memorial Hwy.	Tulsa	OK	Toys “R” Us, Inc.	43,123
72	12535 S.E. 82nd Ave.	Clackamas	OR	Toys “R” Us, Inc.	42,842

Page 15

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
73	1642 Williams Ave.	Grants Pass	OR	Safeway Stores, Inc.	33,770
74	2655 Shasta Way	Klamath Falls	OR	Fred Meyer, Inc.	178,204
75	150 N.E. 20th St.	Newport	OR	Fred Meyer, Inc.	118,179
76	559 North Main St.	Doylestown	PA	Citizens Bank of Pennsylvania	3,800
77	25 East Main St.	Lansdale	PA	Citizens Bank of Pennsylvania	3,800
78	1055 West Baltimore Pike	Lima	PA	Citizens Bank of Pennsylvania	3,800
79	4947 North BRd. St.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
80	2001-03 BRd. St.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
81	6201 North 5th St.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
82	7323-29 Frankford Ave.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
83	15 South 52nd St.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
84	10650 Bustleton Ave.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
85	1025 West Lehigh Ave.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
86	2014 Cottman Ave.	Philadelphia	PA	Citizens Bank of Pennsylvania	3,800
87	4160 Monument Rd.	Philadelphia	PA	Pathmark Stores, Inc.	50,000
88	15 Newton – Richboro Rd.	Richboro	PA	Citizens Bank of Pennsylvania	3,800
89	363 West Lancaster Ave.	Wayne, PA	PA	Citizens Bank of Pennsylvania	3,800
90	399 Peach Wood Centre Dr.	Spartanburg	SC	Best Buy Co., Inc.	45,800
91	S. Carlina 52/52 Bypass	Moncks Corner	SC	Food Lion, Inc.	23,000
92	1600 East 23rd St.	Chattanooga	TN	The Kroger Co.	42,130
93	1053 Mineral Springs Raod	Paris	TN	The Kroger Co.	31,170
94	3040 Josey Lane	Carrollton	TX	Ong’s Family Inc.	61,000
95	4121 South Port Ave.	Corpus Christi	TX	Furrs Cafeterias Operators LP	10,000
96	1610 South Westmoreland Ave.	Dallas	TX	Malone’s Food Stores	68,024
97	8960 Dyer St.	El Paso	TX	CSK Auto (Albertsons Inc.)	2,625
98	6100 Alameda Ave.	El Paso	TX	CSK Auto (Albertsons Inc.)	2,800
99	119 North Balboa Rd.	El Paso	TX	Furrs Cafeterias Operators LP	10,000
100	3451 Alta Mesa Blvd.	Fort Worth	TX	Safeway Stores, Inc.	44,000
101	101 West Buckingham Rd.	Garland	TX	Safeway Stores, Inc.	40,000
102	1415 Hwy. 377 East	Granbury	TX	Safeway Stores, Inc.	35,000
103	2500 E. Carrier Pkwy.	Grand Prairie	TX	Safeway Stores, Inc.	49,349
104	4811 Wesley St.	Greenville	TX	Safeway Stores, Inc.	48,427
105	120 South Waco St.	Hillsboro	TX	Safeway Stores, Inc.	35,000
106	13133 Steubner Ave	Houston	TX	The Kroger Co.	52,200
107	3322 82nd St.	Lubbock	TX	CSK Auto (Albertsons Inc.)	2,550
108	5402 4th St.	Lubbock	TX	VACANT	53,820
109	901 West Expressway	McAllen	TX	Furrs Cafeterias Operators LP	10,000

Page 16

LEXINGTON REALTY TRUST

Consolidated Properties

3/31/07

	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq.Ft.
110	25500 State Hwy 249	Tomball	TX	Parkway Chevrolet, Inc.	77,076
111	402 East Crestwood Dr.	Victoria	TX	Furrs Cafeterias Operators LP	10,000
112	9400 South 755 East	Sandy	UT	VACANT	41,612
113	3211 W. Beverly St.	Staunton	VA	Food Lion, Inc.	23,000
114	9803 Edmonds Way	Edmonds	WA	VACANT	35,459
115	224th St. & Meridan	Graham	WA	Safeway Stores, Inc.	44,718
116	18601 Alderwood Mall Blvd.	Lynwood	WA	Toys “R” Us, Inc.	43,105
117	Meridan & 65th	Milton	WA	Safeway Stores, Inc.	44,718
118	1700 State Route 160	Port Orchard	WA	Jubilee Fun	27,968
119	228th Ave., N.E.	Redmond	WA	Safeway Stores, Inc.	44,718
120	4512 N Market	Spokane	WA	Safeway Stores, Inc	38,905
121	3711 Gateway Dr.	Eau Claire	WI	Kohl’s Dept. Stores, Inc.	76,164
122	3621 E Lincoln Way	Cheyenne	WY	VACANT	31,420
123	849 Front St.	Evanston	WY	Bank of the West	7,206
123	Consolidated Retail / Other Properties Total				5,277,498
304	Consolidated Portfolio Total				43,308,409

Page 17

LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

	LXP Ownership	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq. Ft.
		JOINT VENTURE OFFICE PROPERTIES
1	30.51%	Route 64 West & Junction 333	Russellville	AR	Entergy Gulf States	191,950
2	25.00%	275 South Valencia Ave.	Los Angeles	CA	Bank of America NT & SA	637,503
3	30.00%	350 Rhode Island St.	San Francisco	CA	California Culinary Academy, LLC (Career Education Corp.)	125,344
4	30.00%	100 Wood Hollow Dr.	Novato	CA	Greenpoint Mortgage Funding, Inc.	124,600
5	30.00%	10940 White Rock Rd. / 10929 Disk Dr.	Rancho Cordova	CA	Progressive Casualty Insurance Company	158,582
6	30.00%	27027 Tourney Rd.	Santa Clarita	CA	Specialty Laboratories, Inc.	187,262
7	33.33%	1110 Bayfield Dr.	Colorado Springs	CO	Honeywell International, Inc.	166,575
8	30.00%	9201 East Dry Creek Rd.	Centennial	CO	The Shaw Group, Inc.	128,500
9	33.33%	600 Business Center Dr.	Lake Mary	FL	First USA Management Services, Inc.	125,155
10	33.33%	550 Business Center Dr.	Lake Mary	FL	First USA Management Services, Inc.	125,920
11	25.00%	2500 Patrick Henry Pkwy	McDonough	GA	Georgia Power Company	111,911
12	25.00%	3265 East Goldstone Dr.	Meridian	ID	Voicestream PCS II Corporation (T-Mobile USA, Inc.)	77,484
13	30.00%	101 East Erie Building	Chicago	IL	Foote, Cone & Belding (Interpublic Group of Companies, Inc.)	224,565
14	25.11%	101 East Washington Blvd.	Fort Wayne	IN	American Electric Power	348,452
15	33.33%	10300 Kincaid Dr.	Fishers	IN	Bank One Indiana, N.A.	193,000
16	25.00%	5200 Metcalf Ave.	Overland Park	KS	GE Insurance Solutions (Employers Reinsurance Corporation)	320,198
17	25.00%	9601 Renner Blvd.	Lenexa	KS	Voicestream PCS II Corporation (T-Mobile USA, Inc.)	77,484
18	30.00%	4455 American Way	Baton Rouge	LA	Bell South Mobility, Inc.	70,100
19	25.00%	First Park Dr.	Oakland	ME	Omnipoint Holdings, Inc. (T-Mobile USA, Inc.)	78,610
20	33.33%	3701 Corporate Dr.	Farmington Hills	MI	Motorola, Inc.	119,829
21	25.00%	9201 Stateline	Kansas City	MO	GE Insurance Solutions (Employers Reinsurance Corporation)	166,641
22	30.00%	200 Lucent Ln.	Cary	NC	Lucent Technologies, Inc.	124,944
23	25.00%	3601 Converse Dr.	Wilmington	NC	Verizon Wireless	160,500
24	33.33%	389-399 Interpace Hwy. Morris Corporate Center IV	Parsippany	NJ	Aventis Pharmaceuticals, Inc (Pharma Holdings GmbH)	340,240
25	33.33%	2000 Eastman Dr.	Milford	OH	Structural Dynamic Research Corp.	212,836
26	40.00%	3201 Quail Springs Pkwy.	Oklahoma City	OK	AT& T Wireless Services, Inc.	128,500
27	30.00%	275 Technology Dr.	Canonsburg	PA	ANSYS, Inc.	107,872
28	30.00%	70 Valley Stream Parkway	Malvern	PA	IKON Office Solutions, Inc.	106,855
29	30.00%	1475 Dunwoody Dr.	West Chester	PA	ING USA Annuity and Life Insurance Company	125,000
30	40.00%	17 Technology Cir.	Columbia	SC	Blue Cross Blue Shield of South Carolina Inc.	456,304
31	30.00%	2050 Roanoke Rd.	Westlake	TX	Chrysler Financial Company LLC	130,290
32	30.00%	11511 Luna Rd.	Farmers Branch	TX	Haggar Clothing Company	180,507

Page 18

LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

	LXP Ownership	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq. Ft.
33	25.00%	4001 International Pkwy.	Carrollton	TX	Motel 6 Operating L.P. (Accor S.A.)	138,443
34	30.00%	8900 Freeport Pkwy	Irving	TX	Nissan Motor Acceptance Corporation/ (Nissan North America, Inc.)	268,445
35	25.00%	1401 & 1501 Nolan Ryan Parkway	Arlington	TX	Siemens Dematic Postal Automation, L.P.	236,547
36	33.33%	6555 Sierra Dr.	Irving	TX	True North Communications Inc.	247,254
37	33.33%	15375 Memorial Dr.	Houston	TX	Vastar Resources, Inc	327,325
38	30.00%	10300 Town Park Dr.	Houston	TX	Veritas DGC, Inc.	218,641
39	30.00%	3711 San Gabriel	Mission	TX	Voice Stream PCS II Corporation (T-Mobile USA, Inc.)	75,016
40	30.00%	110, 120 & 130 E. Shore Dr.	Glen Allen	VA	Capital One Services, Inc.	225,220
41	30.00%	13775 McLearen Rd.	Herndon	VA	Equant N.V.	125,293
42	25.00%	5150 220th Ave.	Issaquah	WA	Spacelabs Medical, Inc (OSI Systems, Inc.)	106,944
43	25.00%	22011 SE 51st St.	Issaquah	WA	Spacelabs Medical, Inc (OSI Systems, Inc.)	95,600
43		Joint Venture Office Properties Total				7,898,241
		JOINT VENTURE INDUSTRIAL PROPERTIES
1	30.00%	3245 Meridian Parkway	Weston	FL	Circuit City Stores, Inc.	230,600
2	30.00%	3225 Meridian Parkway	Weston	FL	Hagemeyer Foods, Inc.	201,845
3	30.00%	3600 Army Post Rd.	Des Moines	IA	EDS Information Services LLC (Electronic Data Systems Corporation)	405,000
4	30.00%	2400 West Haven Ave.	New Lenox	IL	Michaels Stores Procurement Company, Inc. (Michaels Stores, Inc.)	693,185
5	33.33%	7111 Crabb Rd.	Temperance	MI	TNT Logistics North America, Inc. (TPG N.V.)	752,000
6	30.00%	43955 Plymouth Oaks Blvd.	Plymouth	MI	Tower Automotive Products Company (Tower Automotive, Inc.)	290,133
7	33.33%	121 Technology Dr.	Durham	NH	Heidelberg Web Systems, Inc.	500,500
8	30.00%	1109 Commerce Blvd.	Logan Township	NJ	Linens-n-Things, Inc.	262,644
9	30.00%	736 Addison Rd.	Erwin	NY	Corning, Inc.	408,000
10	25.00%	10345 Philipp Parkway	Streetsboro	OH	L’Oreal USA, Inc.	649,250
11	33.33%	101 Michelin Dr.	Laurens	SC	TNT Logistics North America, Inc. (TPG N.V.)	1,164,000
12	30.00%	6050 Dana Way	Antioch	TN	W.M Wright Company	647,400
					VACANT	30,000
13	33.33%	291 Park Center Dr.	Winchester	VA	Kraft Foods North America, Inc.	344,700
13		Joint Venture Industrial Properties Total				6,579,257

Page 19

LEXINGTON REALTY TRUST

Joint Venture Property Holdings

3/31/2007

	LXP Ownership	Property Location	City	State	Primary Tenant (Guarantor)	Property Net Rentable Sq. Ft.
		JOINT VENTURE RETAIL/OTHER PROPERTIES
1	30.00%	12080 Carmel Mountain Rd.	San Diego	CA	Kmart Corporation	107,210
2	30.00%	255 Northgate Dr.	Manteca	CA	Kmart Corporation	107,489
3	30.00%	1150 West Carl Sandburg Dr.	Galesburg	IL	Kmart Corporation	94,970
4	30.00%	21082 Pioneer Plaza Dr.	Watertown	NY	Kmart Corporation	120,727
5	30.00%	5350 Leavitt Rd.	Lorain	OH	Kmart Corporation	193,193
6	23.98%	1321 Commerce St.	Dallas	TX	Adolphus Associates (Met Life)	498,122
7	30.00%	97 Seneca Trail	Fairlea	WV	Kmart Corporation	90,933
7		Joint Venture Retail / Other Properties Total				1,212,644
63		Joint Venture Portfolio Total				15,690,142

Page 20

Lexington Realty Trust

Lease Rollover Schedule by Property Type - Cash Basis

3/31/2007

	Office			Industrial			Retail
	Square	Cash Rental	Rent	Square	Cash Rental	Rent	Square	Cash Rental	Rent
Year	Feet	Revenue*	PSF	Feet	Revenue*	PSF	Feet	Revenue*	PSF
2007	562,694	$               13,356	$   24.43	2,597,072	$               13,329	$     5.44	40,000	$                    682	$   17.05
2008	2,525,852	$               34,272	$   20.63	1,463,579	$                    146	$     7.61	501,559	$                 6,777	$   13.84
2009	2,858,244	$               50,037	$   21.65	883,966	$                 2,085	$     3.34	1,213,603	$                 9,493	$   15.36
2010	2,300,355	$               19,809	$   13.51	1,885,413	$                 5,773	$     3.06	90,800	$                    590	$     6.50
2011	1,608,948	$               15,815	$   15.32	1,251,535	$                    536	$     4.67	511,164	$                 4,081	$     7.98
2012	1,963,179	$               19,396	$   12.69	4,707,134	$               11,007	$     4.15	738,425	$                 5,272	$     7.16
2013	1,957,103	$               23,878	$   15.53	202,086	$                 3,982	$   19.70	154,600	$                 1,419	$     9.18
2014	2,716,818	$               34,844	$   16.51	1,055,160	$                 3,927	$     3.72	267,337	$                    496	$     1.85
2015	2,274,294	$               21,072	$   14.00	1,372,370	$                 7,514	$     5.53	76,164	$                    469	$     6.15
2016	1,198,136	$               10,162	$   16.78	1,655,158	$                 6,180	$     4.20	225,919	$                 1,600	$     7.08
2017	232,534	$                 2,420	$   13.57	1,788,022	$                 6,497	$     4.04	119,706	$                    473	$     3.95
2018	740,924	$                 5,955	$   12.34	744,800	$                 1,347	$     1.81	1,943,876	$                 4,668	$     3.85
2019	1,680,720	$               19,366	$   15.13	1,412,025	$                 4,121	$     4.41	-	$                        -	$         -
2020	344,659	$                 5,214	$   18.53	666,037	$                 4,892	$     7.51	-	$                        -	$         -
2021	420,926	$                 8,324	$   19.78	1,928,504	$                 7,607	$     4.31	61,000	$                    361	$     5.92
2022	-	$                         -	$         -	-	$                         -	$         -	-	$                        -	$          -
2023	-	$                         -	$         -	-	$                         -	$         -	-	$                        -	$          -
2024	187,262	$                 1,069	$   19.02	693,185	$                    568	$     2.73	-	$                        -	$         -
2025	146,800	$                 2,088	$   15.63	2,140,254	$                 9,802	$     3.20	-	$                        -	$         -
2026	-	$                         -	$         -	1,146,500	$                 2,895	$     3.27	77,076	$                 1,624	$   23.16
2027	-	$                         -	$         -	-	$                         -	$         -	-	$                        -	$          -
2028	-	$                         -	$         -	-	$                         -	$         -	-	$                        -	$          -
Weighted Average			$   16.66			$     4.40			$     8.35
Revenue in $000s
* Includes proportionate share of joint venture investments

Page 21

LEXINGTONREALTYTRUST
LeaseRolloverSchedule–GAAPBasis
3/31/2007
($000s)
	LeaseExpiration Year	NumberofLeases Expiring	AnnualizedBaseRent
			Total$(1)	%ofTotal
	2007	35	$       28,551	6.4%
	2008	72	$       61,633	13.9%
	2009	67	$       60,908	13.7%
	2010	33	$       27,597	6.2%
	2011	31	$       22,898	5.2%
	2012	43	$       34,192	7.7%
	2013	28	$       35,527	8.0%
	2014	27	$       36,213	8.2%
	2015	23	$       31,042	7.0%
	2016	20	$       17,062	3.8%
	2017	9	$         7,370	1.7%
	2018	14	$       14,856	3.4%
	2019	18	$       22,793	5.1%
	2020	7	$         9,627	2.2%
	2021	10	$       15,867	3.6%
	2022	0	$               -	-
	2023	0	$               -	-
	2024	2	$         1,679	0.4%
	2025	8	$       12,096	2.7%
	2026	2	$         3,580	0.8%
	Total	449	$     443,491	100.0%
	LeaseExpirationYear	LeaseEstimatedAmortization
		BelowMarket	AboveMarket	Net
	2007 - remaining	$                13,077	$      (27,276)	$      (14,199)
	2008	$                15,651	$      (29,922)	$      (14,271)
	2009	$                15,548	$      (10,868)	$         4,680
	2010	$                14,831	$           (706)	$       14,125
	2011	$                14,590	$           (706)	$       13,884
	(1) Includes proportionate share of joint venture investments.

Page 22

LEXINGTON REALTY TRUST

Motgages and Notes Payable

3/31/2007

($000s)

Property	Footnotes	Debt Balance	Interest Rate	Maturity	Current Est. Annual Debt Service (d)	Balloon Payment
Warren, Ohio	(a) (b)	$               5,851	7.000%	Oct-07	$          6,160	$               -
Bristol, PA		9,359	7.400%	Feb-08	831	9,262
Garwood, NJ		186	5.000%	May-08	100	-
Decatur, GA		6,229	6.720%	Jun-08	579	6,049
Palm Beach Gardens, FL		10,704	7.010%	Jun-08	970	10,418
Canton, OH		3,062	7.150%	Aug-08	313	2,936
Spartanburg, SC		2,543	7.150%	Aug-08	260	2,438
Irvine, CA		7,884	9.339%	Sep-08	5,653	-
New Orleans, LA		5,802	6.930%	Sep-08	4,084	-
New Orleans, LA		4,612	6.930%	Sep-08	3,246	-
Owensboro, KY		6,104	7.940%	Dec-08	3,361	-
Clinton, CT		943	7.940%	Dec-08	519	-
Columbia, MD		1,097	8.625%	Dec-08	297	719
Long Beach, CA		7,753	6.160%	Jan-09	4,180	-
Long Beach, CA		20,913	6.250%	Jan-09	11,286	-
Canton, OH		677	9.490%	Feb-09	388	-
Florence, SC		8,827	7.500%	Feb-09	869	8,443
Baton Rouge, LA		1,648	7.375%	Mar-09	208	1,478
Bristol, PA		5,570	7.250%	Apr-09	571	5,228
Livonia, MI		10,572	7.800%	Apr-09	992	10,236
Henderson, NC		4,090	7.390%	May-09	417	3,854
Westland, MI		1,496	10.500%	Sep-09	683	-
Salt Lake City, UT		6,548	7.610%	Oct-09	2,901	-
High Point, NC		8,317	5.750%	Oct-09	695	7,741
Pleasanton, CA		4,589	10.250%	Dec-09	727	3,808
San Francisco, CA		23,102	3.893%	Dec-09	1,750	20,000
Richmond, VA		15,898	8.100%	Feb-10	1,511	15,257
Hampton, VA		4,323	8.260%	Apr-10	415	4,144
Hampton, VA		7,049	8.270%	Apr-10	677	6,758
Tampa, FL		5,801	6.880%	Aug-10	485	5,495
Tampa, FL		8,023	6.930%	Aug-10	674	7,603
Herndon, VA		18,200	8.180%	Dec-10	1,723	17,301
Tucson, AZ		2,293	7.500%	Jan-11	226	2,076
Valley Forge, PA		12,225	7.120%	Feb-11	1,166	10,927
NK Marc CAA		3,440	6.500%	Mar-11	286	3,178
Glendale, AZ		14,228	7.400%	Apr-11	1,258	13,365
Renswoude, NA		36,056	5.305%	Apr-11	2,638	33,028
Dallas, TX		30,582	5.126%	May-11	1,594	30,582
Wallingford, CT		3,408	4.926%	May-11	221	3,187
Auburn Hills, MI		6,717	7.010%	Jun-11	637	5,918
Plymouth, MI		4,486	7.960%	Jul-11	421	4,171
Newport, OR		6,610	5.030%	Aug-11	470	5,980
New Kingston, PA		6,882	7.790%	Jan-12	678	6,101
Mechanicsburg, PA		5,080	7.780%	Jan-12	500	4,503
New Kingston, PA		3,279	7.780%	Jan-12	323	2,906
Greenville, SC		13,119	4.415%	Jan-12	841	11,806
Lake Forest, CA		10,451	7.260%	Feb-12	901	9,708
Memphis, TN		17,610	5.247%	May-12	1,181	16,222
Lakewood, CO		8,585	5.097%	May-12	566	7,890
Groveport, OH		7,525	6.030%	Oct-12	563	6,860
San Antonio, TX		29,025	6.080%	Oct-12	2,260	26,025
Foxboro, MA	(b)	14,182	6.000%	Jan-13	2,817	-

Page 23

Property	Footnotes	Debt Balance	Interest Rate	Maturity	Current Est. Annual Debt Service (d)	Balloon Payment
Fort Mill, SC		11,029	6.000%	Jan-13	839	9,904
Waterloo,IA		5,814	5.610%	Feb-13	672	3,505
Indianapolis, IN		9,519	5.168%	May-13	633	8,580
Fort Meyers, FL		8,912	5.268%	May-13	477	8,550
Houston, TX		17,444	5.218%	May-13	1,166	15,737
Atlanta, GA		44,690	5.268%	May-13	3,004	40,356
Chelmsford, MA		6,928	5.118%	May-13	458	6,231
Southington, CT		13,604	5.018%	May-13	890	12,228
Tempe, AZ		13,479	5.148%	May-13	894	12,144
Knoxville, TN		5,073	5.950%	Sep-13	381	4,496
Lancaster, CA		10,084	7.020%	Sep-13	900	8,637
Lancaster, CA		8,518	5.920%	Sep-13	642	7,518
Phoenix, AZ		19,061	6.270%	Sep-13	1,527	16,490
Foxboro, MA	(b)	18,536	6.000%	Jan-14	3,270	-
Moody, AL		7,333	4.978%	Jan-14	493	6,350
Mechanicsburg, PA		13,053	5.730%	Mar-14	1,045	10,538
Redmond, OR		9,713	5.616%	Apr-14	697	8,484
Clive, IA		5,846	5.139%	May-14	387	5,151
Fort Mill, SC		20,300	5.373%	May-14	1,217	18,311
Eau Claire, WI		1,719	8.000%	Jul-14	313	-
Philadelphia, PA		49,000	5.060%	Jul-14	2,959	43,547
Carrollton, TX		14,085	5.530%	Jan-15	993	12,022
Franklin, NC		1,567	8.500%	Mar-15	271	-
Richmond, VA		10,481	5.310%	May-15	708	9,055
Harrisburg, PA		9,065	5.110%	May-15	599	7,780
Fishers, IN		13,019	5.160%	May-15	865	11,188
Houston, TX		13,092	5.210%	May-15	874	11,265
Atlanta, GA		11,325	5.260%	May-15	606	10,502
San Antonio, TX		12,915	5.340%	May-15	875	11,149
Houston, TX		16,767	5.160%	May-15	1,114	14,408
Los Angeles, CA		11,356	5.110%	May-15	750	9,760
Kalamazoo, MI		17,418	5.411%	May-15	1,189	15,087
Knoxville, TN		7,706	5.310%	May-15	520	6,658
Jacksonville, FL	(a)	5,738	5.110%	May-15	379	4,927
Tulsa, OK		7,591	5.060%	May-15	499	6,517
Rockaway, NJ		14,900	5.292%	May-15	799	14,900
Elizabethtown, KY		16,204	4.990%	Jul-15	1,068	13,730
Elizabethtown, KY		3,054	4.990%	Jul-15	201	2,587
Hopkinsville, KY		9,490	4.990%	Jul-15	626	8,041
Owensboro, KY		6,859	4.990%	Jul-15	452	5,811
Dry Ridge, KY		7,676	4.990%	Jul-15	506	6,504
Southborough, MA		1,723	7.500%	Sep-15	275	-
Houston, TX	(b)	25,608	6.250%	Sep-15	3,967	6,985
Sugarland, TX	(b)	16,372	6.250%	Sep-15	2,608	6,286
Houston, TX	(b)	7,218	6.250%	Sep-15	1,057	2,222
Houston, TX	(b)	62,342	6.250%	Sep-15	9,087	18,318
Temple, TX		8,849	6.090%	Jan-16	668	7,446
Danville, IL		6,261	9.000%	Jan-16	692	4,578
Bridgewater, NJ		14,805	5.732%	Mar-16	860	13,824
Bremerton, WA		6,541	6.090%	Apr-16	494	5,465
Omaha, NE		8,888	5.610%	Apr-16	621	7,560
Tempe, AZ		8,395	5.610%	Apr-16	586	7,140

Page 24

LEXINGTON REALTY TRUST

Motgages and Notes Payable

3/31/2007

($000s)

Property	Footnotes	Debt Balance	Interest Rate	Maturity	Current Est. Annual Debt Service (d)	Balloon Payment
Lisle, IL		10,450	6.500%	Jun-16	688	9,325
Rockford, IL		6,900	6.210%	Aug-16	434	6,153
Statesville, NC		14,100	6.210%	Aug-16	888	12,574
Rochester, NY		18,800	6.210%	Aug-16	1,184	16,765
Glenwillow, OH		17,000	6.130%	Sep-16	1,057	15,132
Plymouth, IN		6,633	6.315%	Sep-16	497	5,723
Tomball, TX		9,380	6.063%	Nov-16	683	8,023
El Segundo, CA		54,824	5.675%	Dec-16	3,820	45,723
Memphis, TN		3,951	5.710%	Jan-17	229	3,484
Dubuque, IA		10,707	5.402%	Jun-17	733	8,725
McDonough, GA		23,000	6.110%	Nov-17	1,425	21,651
Westmont, IL		15,137	6.210%	Mar-18	1,292	9,662
Houston, TX		7,500	6.507%	Nov-19	496	6,692
Boca Raton, FL		20,400	6.470%	Feb-20	1,342	18,383
Houston, TX		9,846	5.640%	Dec-20	692	7,018
Livonia, GA		9,847	5.460%	Dec-20	741	5,895
Wall Township, NJ	(b)	29,514	6.250%	Jan-21	2,130	-
Hilliard,OH		28,960	5.907%	Feb-21	1,739	27,483
Whippany, NJ		16,830	6.298%	Nov-21	1,344	10,400
Dillon, SC		23,268	5.974%	Feb-22	1,832	13,269
El Segundo, CA		13,577	4.860%	Jan-24	54	11,417
El Segundo, CA		16,594	4.860%	Jan-24	66	13,955
Chester, SC		13,339	5.380%	Aug-25	1,144	362
Charleston, SC		7,350	5.850%	Feb-21	437	6,632
Orlando, FL		9,975	5.722%	Feb-17	580	9,309
		1,538,402	5.954%		160,272	1,155,828
Property - Variable Rate
		-	-		-	-
Corporate
Credit Facility	(c)	-	-	Jun-08	-	-
Trust Preferred Notes		200,000	6.804%	Apr-37	13,608	200,000
Exchangeable Notes	(e)	450,000	5.450%	Jan-27	24,525	450,000
Total		$2,188,402	5.928%		$198,405	$1,805,828

(a)     Included in discontinued operations.

(b)    Debt balances based upon imputed interest rates.

(c)     Floating rate debt 30/60/90 day LIBOR plus 120 to 170 bps.

(d)     Remaining payments for debt with less than 12 months to maturity, all others are debt service for next 12 months.

(e)     Holders have the right to put notes to the Company commencing 2012 and every five years thereafter.

Page 25

LEXINGTON REALTY TRUST

Mortgages Payable- Joint Venture Properties

3/31/2007

($000s)

						Current
			LXP			Estimated
			Proportionate	Interest		Annual Debt	Balloon
Joint Venture Property	Footnotes	Debt Balance	Share	Rate	Maturity	Service	Payment
Russellville, AR		$        1,281	$                  391	6.850%	May-08	$                 913	$               -
Dallas, TX		21,800	5,228	6.680%	Jun-09	9,614	-
Santa Clarita, CA		28,200	8,460	4.750%	Oct-09	1,340	28,200
Columbia, SC		23,451	9,380	7.850%	Oct-09	2,196	22,586
Houston, TX		19,705	6,568	7.580%	Oct-09	2,032	18,229
Fishers, IN		14,092	4,697	8.190%	Apr-10	1,499	12,960
Lorain, OH	(4)	2,709	813	6.000%	Jul-10	873	-
Manteca, CA	(4)	1,913	574	6.000%	Jul-10	617	-
Watertown, NY	(4)	1,799	540	6.000%	Jul-10	580	-
Fairlea, WV	(4)	1,264	379	6.000%	Jul-10	407	-
San Diego, CA	(4)	1,219	366	6.000%	Jul-10	393	-
Galesburg, IL	(4)	1,074	322	6.000%	Jul-10	346	-
Irving, TX		25,657	8,552	8.160%	Oct-10	2,432	24,454
Lake Mary, FL		12,760	4,253	7.880%	Oct-10	1,181	12,118
Lake Mary, FL		12,722	4,241	7.880%	Oct-10	1,178	12,082
Parsippany, NJ		39,434	13,144	7.350%	Mar-11	3,472	37,047
Novato, CA		21,839	6,552	5.750%	Jul-11	1,600	20,307
Winchester, VA		10,380	3,460	7.330%	Aug-11	908	9,675
Milford, OH		15,765	5,255	8.170%	Feb-12	1,817	12,686
Des Moines, IA		22,761	6,828	5.147%	May-12	1,188	22,153
Fort Worth, TX		19,399	5,820	5.097%	May-12	1,280	17,823
Raleigh, NC		12,900	3,870	4.947%	May-12	649	12,543
Farmington Hills, MI		20,145	6,715	5.420%	Sep-12	1,500	17,724
Laurens, SC		16,513	5,504	6.000%	Sep-12	1,396	14,022
Temperance, MI		11,070	3,690	6.000%	Sep-12	936	9,400
Baton Rouge, LA		6,659	1,998	4.900%	Oct-12	443	5,943
Plymouth, MI		11,945	3,584	6.220%	Dec-12	1,026	10,026
Colorado Springs, CO		11,386	3,795	6.250%	Dec-12	887	10,272
Centennial, CO		15,235	4,571	6.150%	Feb-13	1,177	13,555
Los Angeles, CA		80,182	20,045	5.330%	May-13	5,270	73,071
Dallas, TX		40,420	12,126	5.218%	May-13	2,702	36,453
Malvern, PA		12,814	3,844	5.530%	Jan-14	916	11,236
Arlington, TX		21,136	5,284	5.810%	Feb-14	1,551	18,588
New Lenox, IL		17,400	5,220	5.510%	Feb-14	975	17,400
Logan Township, NJ		7,690	2,307	4.760%	Apr-14	473	6,784
Rancho Cordova, CA	(4)	18,103	5,431	6.000%	Sep-14	1,457	14,646
Weston, FL		10,518	3,155	5.420%	Nov-14	733	9,066
Issaquah, WA		32,800	8,200	5.001%	Dec-14	1,668	30,388
Canonsburg, PA		9,095	2,729	5.377%	Dec-14	489	9,095
Chicago, IL		29,900	8,970	5.105%	Jan-15	1,552	29,900
Herndon, VA		12,031	3,609	5.920%	Apr-15	888	10,359
Richmond, VA		19,800	5,940	5.110%	May-15	1,029	18,321
Oklahoma City, OK		14,749	5,900	5.240%	May-15	784	13,673
McDonough, GA		12,675	3,169	5.212%	Jun-15	672	11,349
Mission, TX		6,320	1,896	5.780%	Jun-15	462	5,371
Carrollton, TX		20,800	5,200	5.274%	Jul-15	1,115	18,677
Houston, TX		23,910	7,172	5.410%	Oct-15	1,315	21,846
Dallas, TX		18,363	5,509	6.100%	Jul-16	1,139	18,363
Fort Wayne, IN		21,057	5,288	9.375%	Oct-16	3,344	-
Fort Wayne, IN		13,495	3,389	10.625%	Nov-16	2,239	-

Page 26

LEXINGTON REALTY TRUST

Mortgages Payable- Joint Venture Properties

3/31/2007

($000s)

						Current
			LXP			Estimated
			Proportionate	Interest		Annual Debt	Balloon
Joint Venture Property	Footnotes	Debt Balance	Share	Rate	Maturity	Service	Payment
Wilmington, NC		13,000	3,250	5.190%	Mar-17	686	11,580
Weston, FL		7,268	2,180	5.520%	Nov-17	512	5,758
Lorain, OH	(4)	1,450	435	6.000%	Jul-18	108	-
Manteca, CA	(4)	1,024	307	6.000%	Jul-18	77	-
Watertown, NY	(4)	963	289	6.000%	Jul-18	72	-
Fairlea, WV	(4)	676	203	6.000%	Jul-18	51	-
San Diego, CA	(4)	653	196	6.000%	Jul-18	49	-
Galesburg, IL	(4)	575	173	6.000%	Jul-18	43	-
Erwin, NY		9,416	2,825	5.910%	Oct-18	728	6,624
Dallas, TX		12,512	3,000	15.000%	Dec-18	1,877	-
Overland Park, KS		37,620	9,405	5.830%	May-19	2,230	31,819
Kansas City, MO		17,950	4,488	5.830%	May-19	1,064	15,182
West Chester, PA		10,020	3,006	6.750%	Jul-19	1,204	-
Meridian, ID		10,125	2,531	6.010%	Aug-19	753	7,658
Streetsboro, OH		20,200	5,050	5.285%	Sep-19	1,085	16,338
San Fransisco, CA		22,080	6,624	5.580%	Nov-19	1,253	18,002
Lenexa, KS		10,194	2,549	6.270%	Dec-19	774	7,755
Oakland, ME		10,314	2,579	5.930%	Oct-20	750	7,660
Durham, NH		19,182	6,394	6.730%	Mar-21	1,309	-
Antioch, TN		13,731	4,119	7.940%	Oct-21	1,580	774
Subtotal/Wtg. Avg. Proportionate Share		1,067,288	313,536	6.226%		90,858	847,541
Corporate
Warehouse facility	(1)	57,813	28,906	5.640%	Jun-07	3,261	57,813
Warehouse facility	(2)	139,118	69,559	6.057%	Mar-08	8,426	139,118
CDO	(3)	376,650	188,325	5.825%	Dec-46	21,940	376,650
Total/Wtg. Avg. Proportionate Share		$       600,326	$       600,326	6.053%		$       124,485	$    1,421,122

(1) Represents amount outstanding on $200.0 million repurchase agreement, variable rate.

(2) Represents amount outstanding on $300.0 million repurchase agreement, variable rate.

(3) Collateralized debt obligation of investment grade-rated debt secured directly or indirectly by real estate assets, variable rate.

(4) Based on imputed interest rate.

Page 27

Lexington Realty Trust

Mortgage Maturity Schedule

3/31/2007

($000)

Consolidated Properties
Year	Scheduled Amortization	Balloon Payments		Balloon Weighted Average Interest Rate%
2007 - remaining	$                   42,613	$                            -		-
2008	62,922	31,822		7.13%
2009	43,607	60,788		6.28%
2010	33,824	56,558		7.88%
2011	34,107	112,410		5.92%
	$                 217,073	$                 261,578		6.57%
Joint Venture Properties - LXP Proprotionate Share
Year	Scheduled Amortization	Balloon Payments		Balloon Weighted Average Interest Rate %
2007- remaining	$                     5,799	$                   28,906	(1)	5.64%
2008	7,177	69,559	(1)	6.06%
2009	6,906	23,570		6.67%
2010	5,804	20,538		8.06%
2011	5,042	21,666		6.90%
	$                   30,728	$                 164,239		6.43%
(1) Includes joint venture warehouse facilities.

Page 28

Lexington Realty Trust
Revenue by Tenant Industry
3/31/2007
Tenant Industry	% Base Rent for the 3 months ended 3/31/07 (1)
Finance/Insurance	14.9%
Energy	11.4%
Aerospace/Defense	9.1%
Food	7.8%
Technology	7.7%
Automotive	7.5%
Transportation/Logistics	5.3%
Consumer Products	5.0%
Retail-Department/ Discount Store	4.8%
Healthcare	4.3%
Media/Advertising	4.0%
Service	3.9%
Telecommunications	3.3%
Retail-Specialty	3.1%
Construction Materials	2.2%
Printing/Production	2.1%
Retail-Electronics	1.0%
Apparel	0.9%
Real Estate/Other	0.8%
Security	0.6%
Health/Fitness	0.2%
Paper/Containers & Packaging	0.1%
	100.0%
(1)     Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through date of sale.

Page 29

Lexington Realty Trust

Revenue by Metropolitan Statistical Area

	Metropolitan Statistical Area	% of Base Rent for the 3 Months Ended 3/31/07
1	Los Angeles-Riverside-Orange County-CA	10.3%
2	Houston-Galveston-Brazoria-TX	6.4%
3	Dallas-Fort Worth-TX	5.1%
4	New York-Northern New Jersey-Long Island	4.3%
5	Washington-Baltimore	4.1%
6	Philadelphia-Wilmington-Atlantic City	3.7%
7	San Francisco-Oakland-San Jose-CA	3.3%
8	Memphis-TN	3.3%
9	Atlanta-GA	3.1%
10	Phoenix-Mesa-AZ	2.2%
11	Orlando-FL	2.2%
12	Youngstown-Warren-OH	2.1%
13	Boston-Worcester-Lawrence-MA	2.0%
14	Beaumont-Port Arthur, TX	1.8%
15	Detroit-Ann Arbor-Flint-MI	1.8%
16	Columbus-OH	1.7%
17	Charlotte-Gastonia-Rock Hill-NC-SC	1.6%
18	Salt Lake City-Ogden-UT	1.5%
19	Chicago-Gary-Kenosha-IL	1.5%
20	Harrisburg-Lebanon-Carlisle-PA	1.4%
21	Richmond-Petersburg-VA	1.3%
22	Indianapolis-IN	1.3%
23	San Antonio-TX	1.2%
24	New Orleans, LA	1.2%
25	West Palm Beach-Boca Raton-FL	1.1%
26	Columbus, IN	1.1%
27	Las Vegas, NV-AZ	1.0%
28	Owensboro-KY	1.0%
	Areas which account for 1% or greater of total revenue	72.6%

Page 30

LEXINGTON REALTY TRUST
Supplemental Reporting Package
Other Revenue Data
3/31/2007
		Historical Year to Date Base Rent ($000s) (1)
	Revenue by Property Type		Percentage
	Office	$                68,875	65.9%
	Industrial	$                24,860	23.8%
	Retail	$                10,706	10.3%
		$              104,441	100.0%
	Revenue by Credit Rating (2)
	Investment Grade	$                56,121	53.7%
	Non-Investment Grade	$                18,956	18.2%
	Unrated	$                29,364	28.1%
		$              104,441	100.0%
			Aggregate Rentable Sq. Ft.	% of Total Aggregate Rentable Sq. Ft.	Base Rent YTD
	Major Tenants/Guarantors	Number of Leases(2)				Property Type	% of Base Rent (1)
	Raytheon Corporation	6	2,286,009	3.9%	$            6,817	Office/Industrial/Other	6.5%
	St. Paul Fire and Marine Insurance	1	530,000	0.9%	$            3,314	Office	3.2%
	Baker Hughes, Inc.	4	1,061,471	1.8%	$            3,308	Office/Industrial	3.2%
	Kmart Corp/Sears Holdings	8	2,957,164	5.0%	$            2,908	Industrial/Retail	2.8%
	Dana Corporation	8	2,240,802	3.8%	$            2,624	Office/Industrial	2.5%
	Harcourt Brace/Reed Elsevier	4	1,063,640	1.8%	$            2,122	Office/Industrial	2.0%
	Entergy Services, Inc.	4	682,554	1.2%	$            2,090	Office	2.0%
	Federal Express, Inc.	3	712,286	1.2%	$            2,014	Office/Industrial	1.9%
	Morgan, Lewis & Bockius LLP	1	309,049	0.5%	$            1,672	Office	1.6%
	Northwest Pipeline Corp.	1	295,000	0.5%	$            1,580	Office	1.5%
	Total	40	12,137,975	20.6%	$          28,449		27.2%
	(1)     Includes proportionate share of joint venture investments and rental revenue recognized from properties sold through the date of sale.
	(2)     As of March 31, 2007.

Page 31

Investor Information
Transfer Agent		Investor Relations
Mellon Investor Services LLC		Carol M. Merriman
480 Washington Blvd.		VP of Investor Relations and Corporate Development
Jersey City NJ 07310-1900		Telephone (direct)	(212) 692-7264
(800) 850-3948		Facsimile (main)	(212) 594-6600
www.melloninvestor.com		E-mail	cmerriman@lxp.com
Research Coverage
BB&T Capital Markets		J.P. Morgan
Stephanie Krewson	(804) 782-8784	Anthony Paolone, CFA	(212) 622-6682
Robert P. Whittemore	(804) 782-8796	Michael W. Mueller, CFA	(212) 622-6689
		Joseph Dazio, CFA	(212) 622-6416
Bear, Stearns & Co., Inc.		Gregory P. Stuart	(212) 622-5390
Ross Smotrich	(212) 272-8046
Jeffrey Langbaum	(212) 272-4201	Raymond James & Assoc.
George Hoglund, CFA	(212) 272-6272	Paul Puryear	(727) 567-2253
		Ken Avalos	(727) 567-2660
Cantor Fitzgerald
Philip Martin	(312) 469-7485	Stifel Nicolaus
Matthew Thorp	(312) 469-7484	John W. Guinee	(410) 454-5520
		Michael C. Hudgins	(410) 454-4830
Friedman, Billings, Ramsey
Merrill Ross	(703) 312-9769	Wachovia Securities
Gabe Poggi	(703) 469-1141	Stephen Swett	(212) 214-5050

Page 32

EX-99

Exhibit 99.3

LEXINGTON REALTY TRUST TRADED: NYSE: LXP

ONE PENN PLAZA, SUITE 4015

NEW YORK NY 10119-4015

Contact:

Investor or Media Inquiries, Carol Merriman, VP Investor Relations & Corporate Development

Lexington Realty Trust

Phone: (212) 692-7264 E-mail: cmerriman@lxp.com

FOR IMMEDIATE RELEASE

May 2, 2007

LEXINGTON REALTY TRUST ANNOUNCES

ACQUISITION OF JOINT VENTURE PARTNER’S INTEREST

IN INSTITUTIONAL JOINT VENTURE PROGRAM

New York, NY – May 2, 2007 – Lexington Realty Trust (“Lexington”) (NYSE:LXP), a real estate investment trust (REIT) focused on single-tenant real estate investments, announced that it acquired an additional 70% interest in Triple Net Investment Company LLC, its former joint venture investment program with an institutional investor advised by AEW Capital Management L.P. Lexington is now the sole owner of the former joint venture investment program’s 15 primarily single tenant net leased properties. Lexington acquired the interest for a cash payment of approximately $82.7 million and the assumption of approximately $156.6 million of non-recourse first mortgage financing, which bears interest at a weighted-average fixed rate of 5.9%. The transaction values the assets of the joint venture investment program at approximately $277.4 million.

The following table contains selected information about the 15 primarily single tenant net leased properties.

Property Location	Tenant/(Guarantor)	Net Rentable Square Feet	Current Term Lease Expiration	Estimated 2007 Rent
8900 Freeport Parkway Irving, Texas	Nissan Motor Acceptance Corporation/(Nissan North America, Inc.)	268,445	03/31/13	$ 4,610,695
2050 Roanoke Road Westlake, Texas	Chrysler Financial Company LLC	130,290	12/31/11	3,659,846
3600 Army Post Road Des Moines, Iowa	EDS Information Services LLC/ (Electronic Data Systems Corporation)	405,000	04/30/12	2,743,191
9201 East Dry Creek Road Centennial, Colorado	The Shaw Group, Inc.	128,500	09/30/17	2,062,425
275 Technology Drive Canonsburg, Pennsylvania	ANSYS, Inc.	107,872	12/31/14	1,240,524
736 Addison Road Erwin, New York	Corning, Inc.	408,000	11/30/16	1,094,671
4455 American Way Baton Rouge, Louisiana	Bell South Mobility, Inc.	70,100	10/31/12	1,060,788
3711 San Gabriel Mission, Texas	Voice Stream PCS II Corporation/ (T-Mobile USA, Inc.)	75,016	06/30/15	900,192
6050 Dana Way Antioch, Tennessee	WM Wright Company Comprehensive Logistics Inc. VACANT	338,700 228,700 / 80,000 30,000	03/31/21 8/31/07 / 12/31/07 --	1,016,100 941,832 --

Lexington Realty Trust Page 2 of 2

5350 Leavitt Road Lorain, Ohio	Kmart Corporation	193,193	12/31/18	1,010,873
255 Northgate Drive Manteca, California	Kmart Corporation	107,489	12/31/18	714,109
21082 Pioneer Plaza Drive Watertown, New York	Kmart Corporation	120,727	12/31/18	671,560
97 Seneca Trail Fairlea, West Virginia	Kmart Corporation	90,933	12/31/18	471,669
12080 Carmel Mountain Road San Diego, California	Kmart Corporation	107,210	12/31/18	455,117
1150 West Carl Sandburg Drive Galesburg, Illinois	Kmart Corporation	94,970	12/31/18	400,757
	Totals	2,985,145		$23,054,349

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.

# # #

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" in Lexington’s most recent annual report on Form 10-K filed with the SEC on March 1, 2007 (the "Form 10-K") and other periodic reports filed with the SEC, including risks related to, (i) the failure to integrate our operations and properties with those of Newkirk Realty Trust, (ii) the failure to continue to qualify as a real estate investment trust, (iii) changes in general business and economic conditions, (iv) competition, (v) increases in real estate construction costs, (vi) changes in interest rates, or (vii) changes in accessibility of debt and equity capital market. Copies of the Form 10-K and the other periodic reports Lexington files with the SEC are available on Lexington’s website at www.lxp.com. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "estimates," "projects" or similar expressions. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.