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Prime Group Realty Trust Sets Date for Annual Meeting of Shareholders and Announces Process for Nomination of Persons for Election to Board

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Prime Group Realty Trust Sets Date for Annual Meeting of Shareholders and Announces Process for Nomination of Persons for Election to Board Powered By Docstoc
					Prime Group Realty Trust Sets Date for Annual
Meeting of Shareholders and Announces Process
for Nomination of Persons for Election to Board
January 23, 2012 07:28 PM Eastern Time 

CHICAGO--(EON: Enhanced Online News)--Prime Group Realty Trust (OTC PINK: PMGEP) (the “Company”)
announced today that the Company’s Board of Trustees has set Thursday, March 29, 2012 at 35 West Wacker 
Dr., 35th Floor, Conference Room 35A, Chicago, Illinois, at 10:00 A.M. local time as the date, location and time of
the annual meeting of the Company’s shareholders. At the annual meeting, (i) the sole common shareholder of the
Company will be asked to vote for the election of five (5) individuals to the Company’s Board of Trustees and (ii)
the holders of the shares of the Company’s 9% Series B Cumulative Redeemable Preferred Shares of Beneficial
Interest (the “Series B Preferred Shares”) will be asked to vote for the election of two (2) individuals to the
Company’s Board of Trustees.

The record date for shareholders entitled to vote at the annual meeting is Friday, February 17, 2012. As a result, the
sole common shareholder and the holders of record of Series B Preferred Shares at the close of business on Friday,
February 17, 2012 shall be entitled to notice of, and to vote with respect to all matters to be acted upon at the
annual meeting or any adjournment(s) or postponement(s) thereof. After the record date, the Company expects to
promptly send notice of the annual meeting and a proxy statement to each holder of the Series B Preferred Shares as
of the record date.

Series B preferred shareholders have the right to nominate individuals to stand for election at the annual meeting for
the two (2) trustee positions on the Board for a period of twenty (20) days from the date of this press release. For a
nomination notice to be valid, it must describe various matters regarding the nominee, the nominating Series B
preferred shareholder and the underlying beneficial owner of the Series B Preferred Shares, if any, on whose behalf
the nomination is made, including the following information:

• the name, age, address, principal employment, occupation or business of the nominee, the nominating Series B
preferred shareholder and the underlying beneficial owner of Series B Preferred Shares, if any, on whose behalf the
nomination is made;

• the nominee’s general biographical information, including the identification of any public or private company
directorships, trusteeships or boards on which the nominee serves or has served and any committee membership
thereunder;

• the nominee’s financial expertise, including the nominee’s understanding of generally accepted accounting principles
and financial statements, experience preparing, auditing, analyzing or evaluating financial statements, understanding of
internal control over financial reporting and understanding of audit committee functions;

• the number of Series B Preferred Shares which are owned beneficially and of record by the nominee, the
nominating Series B preferred shareholder and the underlying beneficial owner of Series B Preferred Shares, if any,
on whose behalf the nomination is made;

• a description of any legal proceedings (excluding traffic violations and other minor offenses) involving the nominee;

• a description of any transactions or relationships between the nominee and/or the nominating beneficial owner of
the Series B Preferred Shares on one hand, and the Company or its management on the other hand;
• a description of any material proceedings to which the nominee or the nominating beneficial owner of the Series B
Preferred Shares, or either of their associates or affiliates, is a party that are adverse to the Company; and

• a description of all agreements, arrangements and understandings between the nominating beneficial owner of the
Series B Preferred Shares (or such shareholders, affiliates and associates, or others acting in concert with such
shareholder) and the nominee (or such nominees affiliates and associates) pursuant to which the nomination is made.

The nomination notice must be in writing and delivered to the Company Secretary at the Company’s Chicago
headquarters by Monday, February 13, 2012, and it must be accompanied by a written consent of the proposed
nominee to being named as a nominee in the meeting notice and to serve as a trustee if elected. Our Company
Secretary will review all the nominations from the Series B preferred shareholders, and will forward those that
comply with the above-described requirements to the Board for inclusion on the notice of the annual meeting and the
proxy statement related thereto.

On January 23, 2012, the Board of Trustees elected James G. Glasgow, Jr. to fill a vacancy on the Board of
Trustees for a seat elected by the common shareholders. In addition, on January 23, 2012, the Board of Trustees
elected Howard Foster to fill the vacancy on the Board of Trustees of a seat elected by the Series B preferred
shareholders. Mr. Foster was nominated by Mr. Samuel Orticelli, the remaining Series B preferred shareholder
trustee. Mr. Glasgow and Mr. Foster will hold office until the next annual meeting.

The Board of Trustees nominated and recommended the following individuals for election as trustees at the annual
meeting: Jeffrey A. Patterson, John M. Sabin, Shawn R. Tominus, George R. Whittemore, James G. Glasgow, Jr.,
Scott R. Leitman and David L. Reynolds. The Board of Trustees designated Mr. Sabin and Mr. Whittemore as the
trustees for the two seats that are elected by the holders of the Series B Preferred Shares.

About Prime Group Realty Trust

Prime Group Realty Trust is a self-administered and self-managed real estate investment trust (REIT) which owns,
manages, leases, develops and redevelops office and industrial real estate in metropolitan Chicago. The Company
currently owns 1 office property containing an aggregate of 167,756 net rentable square feet and interests in two
joint ventures that own two office properties comprised of approximately 1.24 million net rentable square feet. The
Company leases and manages approximately 1.31 million square feet comprising all of its wholly-owned properties
and its 330 N. Wabash Avenue joint venture property. For more information about Prime Group Realty Trust,
contact the Company's Chicago headquarters at (312) 917-1300 or visit its website at www.pgrt.com.

Notice To Investors

In connection with the annual meeting, a definitive proxy statement and other materials will be sent to the holders of
the Company’s 9% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest. SECURITY
HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT IS RECEIVED BECAUSE IT
WILL CONTAIN IMPORTANT INFORMATION. This communication is not a solicitation of a proxy from any
security holder of Prime Group Realty Trust.

The proxy statement and other documents may also be obtained for free from Prime Group Realty Trust’s website at
www.pgrt.com under the Investors tab or by directing such request to Prime Group Realty Trust, Attention:
Investors Relations, 330 North Wabash Avenue, Suite 2800, Chicago, Illinois 60611.

This press release contains certain forward-looking statements which involve known or unknown risks, uncertainties
or other factors not under the Company’s control which may cause the actual results, performance or achievement of
the Company to be materially different from the results, performance or other expectations implied by these forward-
looking statements.

Contacts
Prime Group Realty Trust
Jeffrey A. Patterson
Chairman, President and CEO
312-917-1300
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Description: CHICAGO--(EON: Enhanced Online News)--Prime Group Realty Trust (OTC PINK: PMGEP) (the “Company”) announced today that the Company’s Board of Trustees has set Thursday, March 29, 2012 at 35 West Wacker Dr., 35th Floor, Conference Room 35A, Chicago, Illinois, at 10:00 A.M. local time as the date, location and time of the annual meeting of the Company’s shareholders. At the annual meeting, (i) the sole common shareholder of the Company will be asked to vote for the election of five (5) individuals a style='font-size:
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