Exhibit 12.1

LEXINGTON REALTY TRUST

For the year ended December 31,

($000’s)

RATIO OF EARNINGS TO FIXED CHARGES

Earnings	2008		2007			2006			2005		2004
Income (loss) before benefit (provision) for income taxes, noncontrolling interest, equity in earnings of non-consolidated entities, gains on sale-affiliates and discontinued operations	$	11,098	$	(62,407	)	$	(13,912	)	$	11,545	$	21,297
Interest expense		155,062		161,747			61,671			53,214		34,598
Amortization expense — debt cost		4,462		4,409			1,611			1,250		897
Cash received from joint ventures		28,052		17,388			22,239			14,663		5,294
Total	$	198,674	$	121,137		$	71,609		$	80,672	$	62,086
Fixed charges:
Interest expense	$	155,062	$	161,747		$	61,671		$	53,214	$	34,598
Amortization expense — debt cost		4,462		4,409			1,611			1,250		897
Capitalized interest expense		350		277			513			816		225
Total	$	159,874	$	166,433		$	63,795		$	55,280	$	35,720
Ratio		1.24		N/A			1.12			1.46		1.74
N/A - Ratio is less than 1.0, deficit of $45,296 existed at December 31, 2007.

Including debt satisfaction (gains) charges in the calculations results in ratios of earnings to fixed charges for the years ended December 31, 2008, 2006, 2005 and 2004 of 1.39, 1.12, 1.50 and 1.74, respectively.