Exhibit 99.1

Item 6. Selected Financial Data

The following table sets forth summary financial data as of and for each of the years ended December 31, 2004 through 2008. Certain information in this table has been retrospectively adjusted for our adoption of certain accounting standards effective January 1, 2009 as discussed further in Note 2 to the Consolidated Financial Statements. The table illustrates the significant growth our Company experienced over the periods reported. Most of this growth, particularly pertaining to revenues, operating income and total assets, was attributable to our addition of properties through acquisition and development activities. We financed most of the acquisition and development activities by incurring debt and issuing preferred and common equity, as indicated by the growth in our interest expense, preferred share dividends and weighted average common shares outstanding. The growth in our general and administrative expenses reflects, in large part, the growth in management resources required to support the increased size of our portfolio. Since this information is only a summary, you should refer to our Consolidated Financial Statements and notes thereto and the section of this report entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for additional information.

Corporate Office Properties Trust and Subsidiaries

(in thousands, except per share data and number of properties)

	2008			2007			2006			2005			2004
Revenues
Revenues from real estate operations (1)	$	399,633		$	365,914		$	291,444		$	235,956		$	198,672
Construction contract and other service operations revenues	188,385			41,225			60,084			79,234			28,903
Total revenues	588,018			407,139			351,528			315,190			227,575
Expenses
Property operating expenses (1)	141,139			123,258			93,088			70,202			57,745
Depreciation and other amortization associated with real estate operations (1)	102,720			104,700			76,344			60,342			48,623
Construction contract and other service operations expenses	184,142			39,793			57,345			77,287			26,996
General and administrative expenses	25,329			21,704			18,048			13,533			10,938
Total operating expenses	453,330			289,455			244,825			221,364			144,302
Operating income	134,688			117,684			106,703			93,826			83,273
Interest expense	(86,870		)	(88,638		)	(74,023		)	(55,979		)	(43,663		)
Interst and other income	2,070			3,030			1,077			304			269
Gain on early extinguishment of debt	8,101			—			—			—			—
Income from continuing operations before equity in loss of unconsolidated entities and income taxes	57,989			32,076			33,757			38,151			39,879
Equity in loss of unconsolidated entities	(147		)	(224		)	(92		)	(88		)	(88		)
Income tax expense	(201		)	(569		)	(887		)	(668		)	(795		)
Income from continuing operations	57,641			31,283			32,778			37,395			38,996
Discontinued operations (1)(2)	2,571			2,622			22,321			7,766			4,012
Income before gain (loss) on sales of real estate, net of income taxes	60,212			33,905			55,099			45,161			43,008
Gain (loss) on sales of real estate, net of income taxes (1)(3)	1,104			2,037			889			334			(150		)
Net income	61,316			35,942			55,988			45,495			42,858
Net income attributable to noncontrolling interests	(7,351		)	(3,741		)	(7,621		)	(6,464		)	(5,826		)
Net income attributable to Corporate Office Properties Trust	53,965			32,201			48,367			39,031			37,032
Preferred share dividends	(16,102		)	(16,068		)	(15,404		)	(14,615		)	(16,329		)
Issuance costs associated with redeemed preferred shares (4)	—			—			(3,896		)	—			(1,813		)
Net income attributable to Corporate Office Properties Trust common shareholders	$	37,863		$	16,133		$	29,067		$	24,416		$	18,890
Basic earnings per common share (5)
Income from continuing operations	$	0.73		$	0.29		$	0.25		$	0.49		$	0.47
Net income	$	0.77		$	0.34		$	0.69		$	0.65		$	0.57
Diluted earnings per common share (5)
Income from continuing operations	$	0.72		$	0.28		$	0.24		$	0.47		$	0.45
Net income	$	0.76		$	0.33		$	0.67		$	0.63		$	0.54

Weighted average common shares outstanding – basic	48,132			46,527			41,463			37,371			33,173
Weighted average common shares outstanding – diluted	48,820			47,518			43,031			38,997			34,982

	2008			2007			2006			2005			2004
Balance Sheet Data (as of year end):
Investment in real estate	$	2,778,466		$	2,604,836		$	2,111,517		$	1,888,106		$	1,544,501
Total assets	$	3,114,239		$	2,932,364		$	2,419,329		$	2,129,759		$	1,732,026
Debt	$	1,856,751		$	1,809,610		$	1,478,460		$	1,348,351		$	1,022,688
Total liabilities	$	2,031,816		$	1,962,884		$	1,609,034		$	1,442,036		$	1,111,224
Total equity	$	1,082,423		$	969,480		$	810,295		$	687,723		$	620,802
Other Financial Data (for the year ended):
Cash flows provided by (used in):
Operating activities	$	180,892		$	138,391		$	113,358		$	95,944		$	84,494
Investing activities	$	(290,822	)	$	(328,404	)	$	(254,041	)	$	(420,301	)	$	(268,720	)
Financing activities	$	92,067		$	206,728		$	137,822		$	321,320		$	188,566
Numerator for diluted EPS	$	37,135		$	15,616		$	28,618		$	24,416		$	18,911
Diluted funds from operations (6)	$	143,592		$	121,371		$	97,165		$	88,490		$	75,549
Diluted funds from operations per share (6)	$	2.52		$	2.17		$	1.89		$	1.86		$	1.73
Cash dividends declared per common share	$	1.43		$	1.30		$	1.18		$	1.07		$	0.98
Property Data (as of year end):
Number of properties owned (1)(7)	238			228			170			165			143
Total rentable square feet owned (1)(7)	18,462			17,832			15,050			13,708			11,765

(1) Certain prior period amounts pertaining to properties included in discontinued operations have been reclassified to conform with the current presentation. These reclassifications did not affect consolidated net income or shareholders’ equity.

(2) Reflects income derived from three operating properties we sold in 2005, seven operating real estate properties we sold in 2006, four operating real estate properties we sold in 2007 and three operating real estate properties we sold in 2008 (see Note 17 to our Consolidated Financial Statements).

(3) Reflects gain (loss) from sales of properties and unconsolidated real estate joint ventures not associated with discontinued operations.

(4) Reflects a decrease to net income available to common shareholders pertaining to the original issuance costs recognized upon the redemption of the Series E and Series F Preferred Shares of beneficial interest in 2006 and the Series B Preferred Shares of beneficial interest in 2004.

(5) Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.

(6) For definitions of diluted funds from operations per share and diluted funds from operations and reconciliations of these measures to their comparable measures under generally accepted accounting principles, you should refer to the section entitled “Funds from Operations” within the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

(7) Amounts reported reflect only wholly owned properties.