Duck Creek 8-K DCT Industrial Trust Reports 2007

Exhibit 99.2

SUPPLEMENTAL REPORTING PACKAGE

FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2007

DCT INDUSTRIAL TRUST INC.

FORWARD-LOOKING STATEMENTS

We make statements in this Supplemental Reporting Package that are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation:

• the competitive environment in which we operate;

• real estate risks, including fluctuations in real estate values and the general economic climate in local markets and competition for tenants in such markets;

• decreased rental rates or increasing vacancy rates;

• defaults on or non-renewal of leases by tenants;

• acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with projections;

• the timing of acquisitions and dispositions;

• natural disasters such as hurricanes, fires and earthquakes;

• national, international, regional and local economic conditions;

• the general level of interest rates;

• energy costs;

• the terms of governmental regulations that affect us and interpretations of those regulations, including changes in real estate and zoning laws and increases in real property tax rates;

• financing risks, including the risk that our cash flows from operations may be insufficient to meet required payments of principal and interest;

• lack of or insufficient amounts of insurance;

• litigation, including costs associated with prosecuting or defending claims and any adverse outcomes;

• the consequences of future terrorist attacks; and

• possible environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us.

• other risks and uncertainties detailed from time to time in our filings with the Securities Exchange Commission.

In addition, our current and continuing qualification as a REIT involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, or the Code, and depends on our ability to meet the various requirements imposed by the Code through actual operating results, distribution levels and diversity of stock ownership. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

DCT INDUSTRIAL TRUST INC.

TABLE OF CONTENTS

Consolidated Statements of Operations	1
Consolidated Balance Sheets	2
Funds From Operations	3
Selected Financial Data	4
Property Overview, Consolidated Properties	5
Property Overview (continued), Unconsolidated and Managed Properties	6
Property Type Summary	7
Consolidated Leasing Statistics	8
Consolidated Acquisition and Disposition Summary	9
Development Overview	10
Construction Summary	11
Indebtedness	12
Capitalization	13
Institutional Capital Management Summary	14
Definitions	15

DCT INDUSTRIAL TRUST INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(amounts in thousands, except per share data)

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2007			2006			2007			2006
	(unaudited)						(unaudited)
REVENUES:
Rental revenues	$	65,742		$	62,856		$	257,352		$	217,881
Institutional capital management and other fees		1,136			858			2,871			1,256
Total Revenues		66,878			63,714			260,223			219,137
OPERATING EXPENSES:
Rental expenses		8,273			7,264			30,661			22,953
Real estate taxes		7,404			6,667			32,457			26,979
Real estate depreciation and amortization		28,523			28,663			115,400			107,753
General and administrative and asset management fees, related party		4,712			5,039			19,547			21,287
Total Operating Expenses		48,912			47,633			198,065			178,972
Operating Income		17,966			16,081			62,158			40,165
OTHER INCOME AND EXPENSE:
Equity in income (losses) of unconsolidated joint ventures, net		334			(35	)		433			(289	)
Loss on contract termination and related internalization expenses		—			(172,188	)		—			(172,188	)
Interest expense		(14,400	)		(20,077	)		(61,155	)		(66,692	)
Interest income and other		688			370			4,666			5,368
Income taxes		(233	)		(794	)		(1,511	)		(1,392	)
Income (Loss) Before Minority Interests		4,355			(176,643	)		4,591			(195,028	)
Minority interests		(699	)		21,634			(584	)		22,338
Income (Loss) From Continuing Operations		3,656			(155,009	)		4,007			(172,690	)
Income From Discontinued Operations		2,272			5,191			10,167			5,586
Income (Loss) Before Gain (Loss) on dispositions of real estate interests		5,928			(149,818	)		14,174			(167,104	)
Gain (Loss) on dispositions of real estate interests, net of minority interests		(257	)		1,631			25,938			9,061
Net Income (Loss)	$	5,671		$	(148,187	)	$	40,112		$	(158,043	)
INCOME (LOSS) PER COMMON SHARE - BASIC
Income (Loss) From Continuing Operations	$	0.02		$	(1.00	)	$	0.03		$	(1.15	)
Income From Discontinued Operations		0.01			0.03			0.06			0.04
Gain (Loss) on dispositions of real estate interests, net of minority interests		(0.00	)		0.01			0.15			0.06
Net Income (Loss)	$	0.03		$	(0.96	)	$	0.24		$	(1.05	)
INCOME (LOSS) PER COMMON SHARE - DILUTED
Income (Loss) From Continuing Operations	$	0.02		$	(1.00	)	$	0.03		$	(1.15	)
Income From Discontinued Operations		0.01			0.03			0.06			0.04
Gain (Loss) on dispositions of real estate interests, net of minority interests		(0.00	)		0.01			0.15			0.06
Net Income (Loss)	$	0.03		$	(0.96	)	$	0.24		$	(1.05	)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic		168,366			155,037			168,358			150,320
Diluted		205,846			155,037			200,823			150,320

1

DCT INDUSTRIAL TRUST INC.

CONSOLIDATED BALANCE SHEETS

(dollar amounts in thousands)

	December 31, 2007			December 31, 2006
	(unaudited)
ASSETS
Operating properties	$	2,623,927		$	2,754,076
Properties under redevelopment		37,086			21,518
Operating properties held for contribution		120,188			32,142
Properties under development		76,680			26,289
Pre-development and land held for development		25,025			30,863
Total Investment in Properties		2,882,906			2,864,888
Less accumulated depreciation and amortization		(310,691	)		(199,574	)
Net Investment in Properties		2,572,215			2,665,314
Investment in and advances to unconsolidated joint ventures		102,750			42,336
Net Investment in Real Estate		2,674,965			2,707,650
Cash and cash equivalents		30,481			23,310
Notes receivable		27,398			9,205
Deferred loan costs, net		4,828			6,175
Deferred loan costs - financing obligations, net		1,345			16,467
Straight-line rent and other receivables		26,879			17,137
Other assets, net		14,156			27,637
Assets held for sale		—			41,895
Total Assets	$	2,780,052		$	2,849,476
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	31,267		$	27,341
Distributions payable		32,994			30,777
Tenant prepaids and security deposits		13,896			12,329
Other liabilities		8,117			14,135
Intangible lease liabilities, net		9,022			17,595
Lines of credit		82,000			34,278
Senior unsecured notes		425,000			425,000
Mortgage notes		649,568			641,081
Financing obligations		14,674			191,787
Liabilities related to assets held for sale		—			276
Total Liabilities		1,266,538			1,394,599
Minority interests		349,912			225,920
Total Stockholders’ Equity		1,163,602			1,228,957
Total Liabilities and Stockholders’ Equity	$	2,780,052		$	2,849,476

2

DCT INDUSTRIAL TRUST INC.

FUNDS FROM OPERATIONS

(amounts in thousands, except per share data)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2007			2006			2007			2006
	(unaudited)						(unaudited)
Reconciliation of Net Income to FFO:
Net Income (Loss) Attributable to Common Shares	$	5,671		$	(148,187	)	$	40,112		$	(158,043	)
Adjustments:
Real estate related depreciation and amortization		28,532			29,028			115,465			111,792
Equity in (income) losses of unconsolidated joint ventures, net		(334	)		35			(433	)		289
Equity in FFO of unconsolidated joint ventures		1,250			221			2,742			545
(Gain) loss on dispositions of real estate interests		314			(1,859	)		(30,748	)		(9,409	)
(Gain) on dispositions of real estate interests related to discontinued operations		(2,622	)		(5,187	)		(12,125	)		(5,187	)
Gain on sale of nondepreciated real estate		184			170			12,921			4,244
Gain on sale of nondepreciated real estate related to discontinued operations		2,214			—			2,214			—
Minority interest in the operating partnership’s share of the above adjustments		(5,378	)		(2,746	)		(14,711	)		(5,561	)
FFO attributable to common shares, basic		29,831			(128,525	)		115,437			(61,330	)
FFO attributable to dilutive OP units		6,637			—			22,180			—
FFO attributable to common shares, diluted		36,468			(128,525	)		137,617			(61,330	)
Adjusted FFO:
Loss on contract termination and related internalization expenses, net of minority interests		—			151,095			—			151,095
FFO adjusted for contract termination and related internalization expenses	$	36,468		$	22,570		$	137,617		$	89,765
FFO per common share, basic	$	0.18		$	(0.83	)	$	0.69		$	(0.41	)
FFO per common share, diluted	$	0.18		$	(0.83	)	$	0.69		$	(0.41	)
FFO adjusted for contract termination and related internalization expenses per common share, diluted	$	0.18		$	0.15		$	0.69		$	0.60
Weighted average shares outstanding, basic		168,366			155,037			168,358			150,320
Weighted average shares outstanding, diluted		205,846			155,037			200,823			150,320
Dividend payout ratio - FFO		90	%		19	%		93	%		157	%

3

DCT INDUSTRIAL TRUST INC.

SELECTED FINANCIAL DATA

(amounts in thousands, except per share data)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2007			2006			2007			2006
	(unaudited)						(unaudited)
Consolidated Operating Data:(1)
Rental revenues	$	65,742		$	62,856		$	257,352		$	217,881
Rental expenses and real estate taxes		15,677			13,931			63,118			49,932
Net Operating Income(2)	$	50,065		$	48,925		$	194,234		$	167,949
Square feet as of the period end		53,628			55,935			53,628			55,935
Average occupancy		93.3	%		92.9	%		93.1	%		92.9	%
Occupancy as of period end		94.0	%		92.6	%		94.0	%		92.6	%
Same Store Operating Data:(1)
Rental revenues(3)	$	56,520	(4)	$	54,779		$	167,243		$	162,159
Rental expenses and real estate taxes		13,991			12,374			40,568			37,701
Net Operating Income		42,529			42,405			126,675			124,458
Less straight-line rents		(726	)		(1,459	)		(2,951	)		(4,747	)
Less amortization of above/below market rents		228	(4)		366			533			1,100
Cash Net Operating Income	$	42,031		$	41,312		$	124,257		$	120,811
Net Operating Income growth		0.3	%		—			1.8	%		—
Cash Net Operating Income growth		1.7	%		—			2.9	%		—
Square feet in same store population		47,640			47,640			36,786			36,786
Average occupancy		93.5	%		93.2	%		92.4	%		92.5	%
Occupancy as of period end		93.9	%		93.1	%		93.2	%		92.6	%
Dividends declared per common share	$	0.16		$	0.16		$	0.64		$	0.64
Supplemental consolidated cash flow and other information:
Straight-line rents(5)	$	1,214		$	1,774		$	5,715		$	7,683
Straight-line rent receivable (balance sheet)(5)	$	17,272		$	13,845		$	17,272		$	13,845
Amortization of above/below market rents(5)	$	3,456		$	(269	)	$	2,859		$	(1,266	)
Capitalized interest	$	1,812		$	534		$	7,008		$	2,013
Stock-based compensation amortization expense	$	691		$	294		$	2,406		$	346
Revenue from lease terminations(5)	$	200		$	1,018		$	200		$	1,714
Consolidated Capital Expenditures(5):
Capital expenditures identified upon acquisition	$	5,823		$	4,186		$	16,076		$	8,504
Development and expansions		7,390			7,424			22,144			57,497
Turnover costs		4,892			7,031			14,230			13,998
Maintenance capital expenditures		2,018			1,556			4,184			4,157
Total capital expenditures	$	20,123		$	20,197		$	56,634		$	84,156

⁽¹⁾ Excludes discontinued operations.

⁽²⁾ See definitions for reconciliation of Net Operating Income to Net Income.

⁽³⁾ Excludes revenue associated with the early termination of leases.

⁽⁴⁾ Excludes $2.1 million net revenue associated with the buyout of a below market lease at 240 Valley Drive.

⁽⁵⁾ Includes discontinued operations.

4

DCT INDUSTRIAL TRUST INC.

PROPERTY OVERVIEW AS OF DECEMBER 31, 2007

Markets	Number of Buildings	Percent Owned (1)		Square Feet	Percentage of Total Square Feet		Occupancy Percentage		Annualized Base Rent(2)		Percentage of Total Annualized Base Rent
				(in thousands)					(in thousands)
Consolidated Operating Properties:(3)
Atlanta	54	100.0	%	6,601	12.2	%	91.2	%	$	21,298	10.5	%
Baltimore/Washington D.C.	12	100.0	%	1,446	2.7	%	95.8	%		7,028	3.5	%
Central Pennsylvania	8	100.0	%	1,453	2.7	%	100.0	%		5,749	2.9	%
Charlotte	9	100.0	%	747	1.4	%	98.0	%		2,790	1.4	%
Chicago	14	100.0	%	3,067	5.7	%	99.4	%		11,730	5.8	%
Cincinnati	35	100.0	%	3,738	7.0	%	81.1	%		11,004	5.5	%
Columbus	14	100.0	%	4,301	8.0	%	96.5	%		12,722	6.3	%
Dallas	50	100.0	%	5,575	10.4	%	96.3	%		21,121	10.5	%
Denver	1	100.0	%	160	0.3	%	100.0	%		939	0.5	%
Houston	40	100.0	%	2,911	5.4	%	91.9	%		13,237	6.6	%
Indianapolis	8	100.0	%	3,103	5.8	%	99.7	%		9,168	4.6	%
Kansas City	1	100.0	%	225	0.4	%	88.9	%		877	0.4	%
Louisville	4	100.0	%	1,330	2.5	%	97.2	%		3,893	1.9	%
Memphis	10	100.0	%	4,333	8.1	%	87.8	%		11,399	5.7	%
Mexico	8	100.0	%	633	1.2	%	89.1	%		2,972	1.5	%
Miami	6	100.0	%	727	1.4	%	96.2	%		5,890	2.9	%
Minneapolis	3	100.0	%	356	0.7	%	100.0	%		1,755	0.9	%
Nashville	4	100.0	%	2,256	4.2	%	90.0	%		6,195	3.1	%
New Jersey	9	100.0	%	1,052	2.0	%	88.8	%		5,398	2.7	%
Northern California	30	100.0	%	2,762	5.2	%	98.2	%		14,860	7.4	%
Orlando	12	100.0	%	1,064	2.0	%	95.4	%		4,973	2.5	%
Phoenix	14	100.0	%	1,632	3.0	%	98.8	%		6,853	3.4	%
Salt Lake City	1	100.0	%	213	0.4	%	100.0	%		965	0.5	%
San Antonio	15	100.0	%	1,349	2.5	%	93.1	%		4,318	2.1	%
Seattle	8	100.0	%	1,199	2.2	%	100.0	%		5,821	2.9	%
Southern California	12	100.0	%	1,395	2.6	%	99.8	%		8,002	4.0	%
Total/Weighted Average - Operating Properties	382	100.0	%	53,628	100.0	%	94.0	%		200,957	100.0	%
Consolidated Redevelopment Properties:
Atlanta	1	100.0	%	188	26.7	%	0.0	%		N/A	N/A
Charlotte	1	100.0	%	259	36.8	%	45.4	%		N/A	N/A
Chicago	1	100.0	%	69	9.8	%	0.0	%		N/A	N/A
Dallas	1	100.0	%	50	7.1	%	0.0	%		N/A	N/A
New Jersey	1	100.0	%	138	19.6	%	28.9	%		N/A	N/A
Total/Weighted Average for Redevelopment Properties	5	100.0	%	704	100.0	%	22.4	%		369	N/A
Consolidated Development Properties:
Atlanta	1	100.0	%	557	19.6	%	0.0	%		N/A	N/A
Baltimore/Washington D.C.	3	95.0	%	246	8.7	%	0.0	%		N/A	N/A
Chicago	1	95.0	%	175	6.2	%	77.0	%		N/A	N/A
Cincinnati	2	100.0	%	840	29.7	%	0.0	%		N/A	N/A
Memphis	1	100.0	%	885	31.3	%	46.7	%		N/A	N/A
Orlando	2	100.0	%	126	4.5	%	0.0	%		N/A	N/A
Total/Weighted Average for Development Properties	10	99.3	%	2,829	100.0	%	19.4	%		1,684	N/A
Total/Weighted Average - Consolidated Properties	397	100.0	%	57,161	N/A		89.4	%	$	203,010	N/A

Continued on next page

5

DCT INDUSTRIAL TRUST INC.

PROPERTY OVERVIEW AS OF DECEMBER 31, 2007 (continued)

Markets	Number of Buildings	Percent Owned (1)		Square Feet	Percentage of Total Square Feet		Occupancy Percentage		Annualized Base Rent(2)		Percentage of Total Annualized Base Rent
				(in thousands)					(in thousands)
Unconsolidated Operating Properties:
Southern California Logistics Airport(4)	2	50.0	%	463	100.0	%	100.0	%	$	264	100.0	%
Operating Properties in Funds:
Atlanta	2	18.2	%	703	6.3	%	100.0	%		1,985	5.0	%
Central Pennsylvania	4	10.9	%	836	7.5	%	100.0	%		3,613	9.2	%
Charlotte	1	10.0	%	472	4.2	%	100.0	%		1,415	3.6	%
Chicago	4	19.4	%	1,525	13.6	%	100.0	%		5,833	14.8	%
Cincinnati	3	16.0	%	1,498	13.4	%	100.0	%		4,727	12.0	%
Columbus	1	10.0	%	121	1.1	%	100.0	%		436	1.1	%
Dallas	4	16.3	%	1,726	15.4	%	100.0	%		5,750	14.6	%
Denver	5	20.0	%	773	6.8	%	91.8	%		3,022	7.7	%
Indianapolis	1	10.0	%	475	4.2	%	100.0	%		1,488	3.8	%
Kansas City	1	10.0	%	180	1.6	%	100.0	%		728	1.8	%
Memphis	1	20.0	%	1,039	9.3	%	100.0	%		2,857	7.3	%
Nashville	2	20.0	%	1,020	9.1	%	100.0	%		3,735	9.5	%
New Jersey	1	20.0	%	87	0.8	%	100.0	%		630	1.6	%
Northern California	1	10.0	%	396	3.5	%	100.0	%		1,768	4.5	%
Orlando	1	20.0	%	356	3.2	%	100.0	%		1,389	3.5	%
Total/Weighted Average - Fund Operating Properties	32	16.5	%	11,207	100.0	%	99.4	%		39,376	100.0	%
Unconsolidated Development Properties:
Total/Weighted Average	10	65.6	%	3,894	N/A		N/A			N/A	N/A
Total/Weighted Average - Unconsolidated Properties	44	29.8	%	15,564	N/A		99.5	%	$	39,640	N/A
Operating Properties Asset Managed Only:
Atlanta	1	0.0	%	491	29.9	%	100.0	%	$	1,566	24.8	%
Cincinnati	2	0.0	%	349	21.3	%	100.0	%		1,310	20.6	%
Columbus	1	0.0	%	330	20.1	%	86.9	%		1,164	18.3	%
Minneapolis	3	0.0	%	472	28.7	%	100.0	%		2,306	36.3	%
Total/Weighted Average - Asset Managed Only Properties	7	0.0	%	1,642	100.0	%	97.4	%	$	6,346	100.0	%
Summary:
Total/Weighted Average -
Consolidated/Unconsolidated Operating Properties	416	N/A		65,298	87.8	%	94.9	%	$	240,597	N/A
Total/Weighted Average -
Consolidated Redevelopment Properties	5	N/A		704	0.9	%	22.4	%		369	N/A
Total/Weighted Average -
Consolidated/Unconsolidated Development Properties	20	N/A		6,723	9.1	%	8.2	%		1,684	N/A
Total/Weighted Average - Asset Managed Only Properties	7	N/A		1,642	2.2	%	97.4	%		6,346	N/A
Total/Weighted Average - All Properties	448	N/A		74,367	100.0	%	86.5	%	$	248,996	N/A

⁽¹⁾ Percent owned is based on equity ownership weighted by square feet.

⁽²⁾ Excludes contractual rent increases.

⁽³⁾ Includes 19 buildings held for contribution comprising 2.1 million square feet that were 91.9% occupied at December 31, 2007.

⁽⁴⁾ Although we contributed 100% of the initial cash equity capital required by the venture, our partners retain certain participation rights in the venture’s available cash flows.

6

DCT INDUSTRIAL TRUST INC.

PROPERTY TYPE SUMMARY

	Bulk Distribution						Light Industrial						Service Center						Total Portfolio
Markets	Number of Buildings	Square Feet		Occupancy Percentage			Number of Buildings	Square Feet		Occupancy Percentage			Number of Buildings	Square Feet		Occupancy Percentage			Number of Buildings	Square Feet		Occupancy Percentage
		(in thousands)						(in thousands)						(in thousands)						(in thousands)
Consolidated Operating Properties:(1)
Atlanta	30	5,562			91.5	%	13	678			92.6	%	11	361			83.8	%	54	6,601			91.2	%
Baltimore/Washington D.C.	12	1,446			95.8	%	—	—			—		—	—			—		12	1,446			95.8	%
Central Pennsylvania	8	1,453			100.0	%	—	—			—		—	—			—		8	1,453			100.0	%
Charlotte	4	456			100.0	%	5	291			94.8	%	—	—			—		9	747			98.0	%
Chicago	12	2,635			100.0	%	2	432			95.6	%	—	—			—		14	3,067			99.4	%
Cincinnati	14	2,906			79.3	%	20	766			88.7	%	1	66			69.8	%	35	3,738			81.1	%
Columbus	12	4,227			96.6	%	2	74			90.0	%	—	—			—		14	4,301			96.5	%
Dallas	27	4,491			98.5	%	7	423			87.2	%	16	661			87.6	%	50	5,575			96.3	%
Denver	1	160			100.0	%	—	—			—		—	—			—		1	160			100.0	%
Houston	14	1,878			96.9	%	14	706			86.1	%	12	327			76.0	%	40	2,911			91.9	%
Indianapolis	8	3,103			99.7	%	—	—			—		—	—			—		8	3,103			99.7	%
Kansas City	1	225			88.9	%	—	—			—		—	—			—		1	225			88.9	%
Louisville	4	1,330			97.2	%	—	—			—		—	—			—		4	1,330			97.2	%
Memphis	10	4,333			87.8	%	—	—			—		—	—			—		10	4,333			87.8	%
Mexico	2	177			60.9	%	6	456			100.0	%	—	—			—		8	633			89.1	%
Miami	3	521			97.6	%	2	157			100.0	%	1	49			68.8	%	6	727			96.2	%
Minneapolis	2	279			100.0	%	1	77			100.0	%	—	—			—		3	356			100.0	%
Nashville	4	2,256			90.0	%	—	—			—		—	—			—		4	2,256			90.0	%
New Jersey	7	938			94.1	%	2	114			45.3	%	—	—			—		9	1,052			88.8	%
Northern California	9	1,755			100.0	%	21	1,007			95.1	%	—	—			—		30	2,762			98.2	%
Orlando	2	367			100.0	%	10	697			93.0	%	—	—			—		12	1,064			95.4	%
Phoenix	8	1,492			99.6	%	6	140			90.0	%	—	—			—		14	1,632			98.8	%
Salt Lake City	1	213			100.0	%	—	—			—		—	—			—		1	213			100.0	%
San Antonio	11	1,097			91.9	%	4	252			98.0	%	—	—			—		15	1,349			93.1	%
Seattle	8	1,199			100.0	%	—	—			—		—	—			—		8	1,199			100.0	%
Southern California	8	1,132			99.9	%	3	242			100.0	%	1	21			93.3	%	12	1,395			99.8	%
Total/Weighted Average - Operating Properties	222	45,631			94.6	%	118	6,512			92.2	%	42	1,485			82.8	%	382	53,628			94.0	%
Consolidated Redevelopment Properties	3	585			26.9	%	2	119			0.0	%	—	—			—		5	704			22.4	%
Consolidated Development Properties	8	2,703			29.7	%	2	126			0.0	%	—	—			—		10	2,829			19.4	%
Total/Weighted Average - Consolidated Properties	233	48,919			89.7	%	122	6,757			88.8	%	42	1,485			82.8	%	397	57,161			89.4	%
Unconsolidated Properties:
Fund Operating Properties	32	11,207			99.4	%	—	—			—		—	—			—		32	11,207			99.4	%
Operating Properties	2	463			100.0	%	—	—			—		—	—			—		2	463			100.0	%
Development Properties	8	3,672			N/A		2	222			N/A		—	—			—		10	3,894			N/A
Asset Managed Properties	7	1,642			97.4	%	—	—			—		—	—			—		7	1,642			97.4	%
Total/Weighted Average - All Properties	282	65,903			86.6	%	124	6,979			86.0	%	42	1,485			82.8	%	448	74,367			86.5	%
Percentage of Square Feet		89	%					9	%					2	%					100	%
Total Annualized Base Rent - All Properties				$	204,847					$	34,582					$	9,567					$	248,996

⁽¹⁾ Includes 19 buildings held for contribution comprising 2.1 million square feet that were 91.9% occupied at December 31, 2007.

7

DCT INDUSTRIAL TRUST INC.

CONSOLIDATED LEASING STATISTICS⁽¹⁾

	Number of leases signed		Square Feet Signed	Cash Basis Rent Growth		GAAP Basis Rent Growth		Weighted Average Lease Term(2)	Turnover Costs		Turnover Costs Per Square Foot
			(in thousands)					(in months)	(in thousands)
Q4 2007
Bulk Distribution	30		1,333	3.5	%	9.4	%	43.9	$	1,987	$	1.49
Light Industrial	23		396	11.8	%	21.1	%	42.6		761		1.92
Service Center	16		129	-0.9	%	6.2	%	68.1		1,260		9.78
Total/Weighted Average	69		1,858	4.6	%(3)	11.2	%	45.3	$	4,008	$	2.16
Weighted Average Retention	74.7	%
FULL YEAR 2007
Bulk Distribution	111		5,680	2.2	%	10.2	%	48.1	$	10,208	$	1.80
Light Industrial	84		1,417	5.6	%	15.6	%	43.9		3,121		2.20
Service Center	58		380	-2.1	%	4.9	%	49.5		2,174		5.73
Total/Weighted Average	253		7,477	2.6	%(3)	11.0	%	47.4	$	15,503	$	2.07
Weighted Average Retention	71.5	%

Lease Expirations For Consolidated Operating Properties⁽²⁾

Year	Square Feet Related to Expiring Leases	Annualized Base Rent of Expiring Leases(4)		Percentage of Total Annualized Base Rent
	(in thousands)	(in thousands)
2008(5)	10,196	$	39,771	18.4	%
2009	8,482		34,797	16.1	%
2010	10,148		41,321	19.1	%
2011	5,098		23,563	10.9	%
2012	4,979		25,710	11.9	%
Thereafter	11,490		50,677	23.6	%
Total leased	50,393	$	215,839	100.0	%
Available	3,235
Total consolidated operating properties	53,628

⁽¹⁾ Does not include month-to-month leases, unless otherwise noted.

⁽²⁾ Assumes no exercise of lease renewal options.

⁽³⁾ Excludes the impact of the buyout of the US Foodservice lease. If included, cash rent growth would have been 51.8% and 16.6% for the three and twelve months ended December 31, 2007, respectively.

⁽⁴⁾ Includes contractual rent increases.

⁽⁵⁾ Includes month-to-month leases.

8

DCT INDUSTRIAL TRUST INC.

CONSOLIDATED ACQUISITION AND DISPOSITION SUMMARY FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2007

Property/Portfolio		Market	Number of Buildings	Square Feet
Acquisitions				(in thousands)
Q1 2007
	Bobali Drive	Central Pennsylvania	3	280
	Greenwood/Riverport	Louisville, Atlanta	2	695
	Subtotal Q1 2007 Acquisitions		5	975
Q2 2007
	Mitchell Court	Chicago	1	258
	Bondesen North	Houston	4	155
	Northwest Place	Houston	1	210
	Subtotal Q2 2007 Acquisitions		6	623
Q3 2007
	2440 Midpoint Drive	Kansas City	1	225
	Mohawk Distribution Center	Columbus	1	350
	DCT San Luis Potosi 1 - Logistik Industrial	San Luis Potosi	1	69
	7730 American Way	Orlando	1	193
	DCT Guadalajara 1 - South Periferico	Guadalajara	1	105
	Subtotal Q3 2007 Acquisitions		5	942
Q4 2007
	1201 Perry Road	Indianapolis	1	252
	Landmark Building II	Salt Lake City	1	213
	Louisville Logistics Center	Louisville	1	302
	DCT Guadalajara 2 - South Periferico	Guadalajara	1	65
	DCT Guadalajara 3 - South Periferico	Guadalajara	1	84
	8701 Warehouse Center Drive	Houston	1	93
	DCT Tijuana	Tijuana	3	203
	Subtotal Q4 2007 Acquisitions		9	1,212
Development Properties Acquired Under Forward Commitment
	Deltapoint	Memphis	1	885
	DCT Monterrey 1 - Guadalupe	Monterrey	1	107
	Total acquisitions		27	4,744
Total Acquisition Price - $221.0 million
Weighted Average Occupancy - 81.5%(1)
Weighted Average Yield - 7.0% (year-one, cash basis)(1)
	(1)Excludes development properties acquired under forward commitment.
Contributions to Funds
Q1 2007
	TRT-DCT JV I	Atlanta, Central Pennsylvania, Chicago	3	818
	TRT-DCT JV II	Dallas, Indianapolis	3	1,121
	Subtotal Q1 2007 Contributions		6	1,939
Q2 2007
	TRT-DCT JV I	Cincinnati	1	604
	TRT-DCT JV II	Columbus, Kansas City	2	301
	Subtotal Q2 2007 Contributions		3	905
Q3 2007
	JP Morgan Venture	Chicago, Cincinnati, Dallas	3	1,454
	JP Morgan Venture	Cincinnati, Orlando	2	899
	JP Morgan Venture	Nashville	1	456
	Subtotal Q3 2007 Contributions		6	2,809
	Total contributions		15	5,653
Dispositions
Q1 2007	3930 East Watkins	Phoenix	1	102
Q1 2007	7401 Coca Cola Drive	Baltimore/Washington	1	139
Q1 2007	844 Livingston Court	Atlanta	1	25
Q4 2007	Buford 100	Atlanta	1	499
Q4 2007	2780 Peterson Place	Atlanta	1	23
	Total		5	788

Total Contributed Value/Sales Price - $366.2 million

9

DCT INDUSTRIAL TRUST INC.

DEVELOPMENT OVERVIEW AS OF DECEMBER 31, 2007

(dollar amounts in millions)

				Historical Cost						Projected Investment						Projected Stabilization by Year ($)
		Square Feet	Acres	Consolidated		Unconsolidated		Total		Consolidated		Unconsolidated		Total		2008		2009
		(in thousands)
Under Development:	��
Shell Complete		2,646	n/a	$	53.6	$	38.5	$	92.1	$	61.5	$	47.0	$	108.5	$	87.8	$	20.7
Under Construction		4,077	n/a		23.1		53.2		76.3		68.0		148.5		216.5		39.2		177.3
Total Under Development		6,723	n/a	$	76.7	$	91.7	$	168.4	$	129.5	$	195.5	$	325.0	$	127.0	$	198.0
Forward Commitment and Build-to-Suit(1)		673	n/a	$	—
Pre-Development(2) (3)		2,141	n/a	$	13.3
Redevelopment(4)		704	n/a	$	37.1
Properties Held For Contribution(5)		2,146	n/a	$	120.2
Land
Owned(3) (6)		4,783	321.8	$	11.7
Under Control (3) (7)		—	3,995.0		—
Total		4,783	4,316.8	$	11.7
Grand Total		17,170	4,316.8	$	259.0

⁽¹⁾ Includes Nexxus (Monterrey, Mexico). Total Projected Investment in these assets is estimated to be between $30 million and $35 million.

⁽²⁾ Includes Dulles Summit Phase II (Baltimore/Washington DC), ADC North Phase I and II (Orlando), the Monterrey (Mexico) expansion and a portion of Phase IA of SCLA (Southern California).

Total Projected Investment in these assets is expected to be between $115 million and $120 million. Phase IA of SCLA is unconsolidated.

⁽³⁾ Summary of SCLA:

	Square Feet	Acres	Projected Investment
	(in thousands)		(in millions)
Phase 1A (Owned):
Under Construction	520	31	$	31
Pre-Development	1,445	66	$	58
Land Held (Square Feet based on 40% coverage)	4,155	238
Total	6,120	335
Additional Phases (Under Control)		3,995
Total SCLA		4,330

⁽⁴⁾ Summary of Redevelopment assets:

Property	Market	Square Feet
		(in thousands)
115 Greenwood Parkway	Atlanta	188
Nations Ford	Charlotte	259
3575 Stern Avenue	Chicago	69
1101 Great Southwest	Dallas	50
2301 Cottontail Lane	New Jersey	138
Total		704

Total Projected Investment in these assets is expected to be between $35 million and $40 million

⁽⁵⁾ Includes buildings in Columbus, Houston, Kansas City, San Antonio, Southern California and Mexico.

⁽⁶⁾ Includes future phases of Buford (Atlanta) and Dulles Summit (Baltimore/Washington DC), Mohawk (Columbus), and a portion of Phase IA of SCLA (Southern California). The SCLA land is unconsolidated.

⁽⁷⁾ Excludes any square feet associated with future phases at SCLA (see note 5).

10

DCT INDUSTRIAL TRUST INC.

CONSTRUCTION SUMMARY AS OF DECEMBER 31, 2007

(dollar amounts in millions)

Project	Market	Square Feet	Projected Investment			Start Date	Anticipated Stabilization Date	Consolidated/ Unconsolidated (C/U)
		(in thousands)
Shell Complete
South Creek IV	Atlanta	557	$	20.7		2005	2009	C
Veterans 2	Chicago	175		10.1		2006	2008	C
Deltapoint	Memphis	885		30.7		2005	2008	C
Logistics Way	Nashville	570		22.7		2006	2008	U
Sycamore Canyon A	Southern California	459		24.3		2006	2008	U
Total/Weighted Average		2,646	$	108.5
Under Construction
Dulles Industrial Phase I	Baltimore/Washington	246	$	25.2		2007	2009	C
Airport Dist Center (2 buildings)	Orlando	126		9.7		2007	2008	C
Sycamore Canyon B	Southern California	413		29.5		2007	2008	U
SCLA Phase 1A (3 buildings)	Southern California	520		31.1		2007	2009	U
Union Center (2 buildings)	Cincinnati	840		33.1		2007	2009	C
Nashville Dist Center	Nashville	557		20.8		2007	2009	U
Prairie Point West	Chicago	363		17.4		2007	2009	U
Centre Point	Northern California	509		29.1		2007	2009	U
Tradeport East	Savannah	503		20.6		2007	2009	U
Total/Weighted Average		4,077	$	216.5
Grand Total/Weighted Average		6,723	$	325.0
Projected Yield - Development				7.6	%
Leased as of December 31, 2007				18.5	%
Weighted Average DCT % Ownership as of December 31, 2007				83.9	%

11

DCT INDUSTRIAL TRUST INC.

INDEBTEDNESS

(dollar amounts in thousands)

Description	Stated Interest Rate		Effective Interest Rate		Maturity Date	Balance as of 12/31/2007
Senior Unsecured Notes:
2 year, variable rate	5.97	%	6.02	%	June 2008	$	275,000
2011 Notes, fixed rate	5.53	%	5.24	%	April 2011		50,000
2014 Notes, fixed rate	5.68	%	6.03	%	January 2014		50,000
2016 Notes, fixed rate	5.77	%	5.74	%	April 2016		50,000
							425,000
Mortgage Notes:
Fixed Rate Secured Debt	5.40	%	5.11	%	Feb 2008 -Aug 2025		618,701
Variable Rate Secured Debt	6.45	%	6.45	%	October 2011		25,237
Premiums, Net of Amortization							5,630
							649,568
Total Senior Unsecured Notes and Mortgage Notes							1,074,568
Unsecured Credit Facility:
Senior Unsecured Revolving Credit Facility(1)	5.68	%	5.68	%	December 2010		82,000
Total Carrying Value of Debt						$	1,156,568
Weighted Average Interest Rate	5.61	%	5.47	%
Fixed Rate Debt	5.45	%	5.22	%			67	%
Variable Rate Debt	5.94	%	5.98	%			33	%
DCT Share of Unconsolidated Joint Venture Debt(2)
Operating Joint Ventures						$	33,256
Development Joint Ventures							53,221
						$	86,477

Scheduled Principal Payments of Debt as of December 31, 2007 (excluding premiums)

Year	Senior Unsecured Notes		Mortgage Notes		Unsecured Credit Facility		Total
2008	$	275,000	$	70,403	$	—	$	345,403
2009		—		7,923		—		7,923
2010		—		58,512		82,000		140,512
2011		50,000		233,028		—		283,028
2012		—		169,850		—		169,850
2013		—		25,309		—		25,309
2014		50,000		3,985		—		53,985
2015		—		45,449		—		45,449
2016		50,000		2,605		—		52,605
2017		—		2,813		—		2,813
Thereafter		—		24,061		—		24,061
Total	$	425,000	$	643,938	$	82,000	$	1,150,938

⁽¹⁾ The senior unsecured revolving credit facility bears interest at either LIBOR plus 0.55% to 1.1% or, at DCT’s election, prime. The interest rate on the senior unsecured revolving credit facility was 5.68% as of December 31, 2007. After giving effect to outstanding letters of credit, we have $188.6 million available on our unsecured revolving credit facility, which has a $300 million total capacity.

⁽²⁾ Based on ownership as of December 31, 2007.

12

DCT INDUSTRIAL TRUST INC.

CAPITALIZATION

(dollar amounts in thousands, except per share data)

Capitalization as of December 31, 2007

Description	Shares or Units(1)	Share Price		Market Value
	(in thousands)
Common shares outstanding	168,380	$	9.31	$	1,567,618
Operating partnership units outstanding(2)	37,732	$	9.31		351,285
Total Equity Market Capitalization					1,918,903
Consolidated debt					1,156,568
Pro rata share of debt related to unconsolidated joint ventures					86,477
Total Debt					1,243,045
Total Market Capitalization				$	3,161,948
Ratio of total debt to total market capitalization, including pro rata share of debt related to unconsolidated joint ventures					39.3	%

Fixed Charge Coverage

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2007			2006			2007			2006
Net income (loss)	$	5,671		$	(148,187	)	$	40,112		$	(158,043	)
Interest expense(3)		14,409			20,186			61,209			67,272
Pro rata share of interest expense from unconsolidated JVs		1,185			819			4,024			1,863
Real estate related depreciation and amortization(3)		28,532			29,028			115,465			111,792
Pro rata share of real estate related depreciation and amortization from unconsol. JVs		932			260			2,291			838
Income taxes		233			794			1,511			1,392
Stock-based compensation amortization expense		691			294			2,406			346
Minority interests(3)		1,148			(20,681	)		7,216			(21,269	)
Non-FFO (gains) losses on dispositions of real estate interests, net		90			(6,876	)		(27,738	)		(10,352	)
Loss on contract termination and related internalization expenses		—			172,188			—			172,188
Adjusted EBITDA	$	52,891		$	47,825		$	206,496		$	166,027
Calculation of Fixed Charges
Interest expense excluding financing obligation(3)	$	14,138		$	17,371		$	56,887		$	56,232
Interest expense related to financing obligation(2)		271			2,815			4,322			11,040
Capitalized interest		1,812			534			7,008			2,013
Amortization of loan costs and debt premium/discount		114			64			411			254
Amortization of financing obligations		(36	)		(295	)		(500	)		(1,165	)
Pro rata share of interest expense from unconsolidated JVs		1,185			819			4,024			1,863
Total Fixed Charges	$	17,484		$	21,308		$	72,152		$	70,237
Fixed Charge Coverage		3.0			2.2			2.9			2.4
Fixed Charge Coverage, Excluding Financing Obligations		3.1			2.5			3.0			2.8

⁽¹⁾ Excludes Long-Term Incentive Plan Units, Restricted Stock, and Phantom Shares of 754,271 units.

⁽²⁾ As of December 31, 2007, our balance sheet includes $14.7 million of financing obligations related to our operating partnership’s private placement of undivided tenancy-in-common (TIC) interests. In satisfaction of this financing obligation, we issued approximately 1.6 million OP units during January 2008. The payments made to these investors while they held TIC interests are reflected primarily as interest expense in the accompanying financial statements.

⁽³⁾ Includes amounts related to discontinued operations.

13

DCT INDUSTRIAL TRUST INC.

INSTITUTIONAL CAPITAL MANAGEMENT SUMMARY

(dollar amounts in thousands)

	CONSOLIDATED STATEMENTS OF OPERATIONS
	For the Twelve Months Ended December 31, 2007
	Boubyan Fund I			TRT-DCT JV I			TRT-DCT JV II			JP Morgan Venture
Revenues:
Rental revenues	$	11,269		$	10,412		$	4,533		$	5,088
Other income		155			33			17			5
Total revenues		11,424			10,445			4,550			5,093
Expenses:
Real estate taxes		1,321			1,313			605			685
Rental expenses		874			722			598			365
Depreciation and amortization		4,860			4,720			2,533			2,430
General and Administrative		780			74			59			234
Total expenses		7,835			6,829			3,795			3,714
Interest expense		(5,442	)		(3,758	)		(1,168	)		—
Net Income (Loss)	$	(1,853	)	$	(142	)	$	(413	)	$	1,379
Rental revenues	$	11,269		$	10,412		$	4,533		$	5,088
Rental expenses and real estate taxes		2,195			2,035			1,203			1,050
Net Operating Income	$	9,074		$	8,377		$	3,330		$	4,038
DCT Industrial Ownership %		20.0	%		10.0	%		12.5	%		20.0	%
Data by Fund:(3)	Number of Buildings			Square Feet			Occupancy Percentage
Boubyan Fund I		6			2,647			100.0	%
TRT-DCT JV I		8			2,522			100.0	%
TRT-DCT JV II		5			1,422			100.0	%
JP Morgan Venture		13			4,616			98.6	%
Total		32			11,207			99.4	%

	CONSOLIDATED BALANCE SHEETS
	As of December 31, 2007
	Boubyan Fund I			TRT-DCT JV I			TRT-DCT JV II			JP Morgan Venture
Total Investment in properties	$	124,687		$	144,426		$	67,826		$	258,656
Accumulated depreciation and amortization		(9,060	)		(4,976	)		(2,693	)		(2,459	)
Net Investment in properties		115,627			139,450			65,133			256,197
Cash and cash equivalents		453			534			113			1,453
Other Assets		2,439			1,688			731			575
Total Assets	$	118,519		$	141,672		$	65,977		$	258,225
Secured debt	$	95,500	(1)	$	101,042	(2)	$	45,234		$	—
Other Liabilities		2,699			3,216			1,390			6,063
Total Liabilities		98,199			104,258			46,624			6,063
Partners’ Capital		20,320			37,414			19,353			252,162
Total Liabilities and Partners’ Capital	$	118,519		$	141,672		$	65,977		$	258,225

⁽¹⁾ Debt requires interest only payments until 2012 and has a stated interest rate of 5.6%.

⁽²⁾ $85 million debt requires interest only payments until 2017 and has a stated interest rate of 5.7%. $16 million debt, which is guaranteed by DCT, requires interest only payments until 2014 and has a stated interest rate of 6.0%.

⁽³⁾ See acquisitions page for detail of properties contributed into the funds for the year ended December 31, 2007.

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DCT INDUSTRIAL TRUST INC.

Definitions

Acquisition Price	Includes purchase price and all costs associated with the acquisition.
Adjusted EBITDA	EBITDA represents earnings (loss) from operations before interest, taxes, depreciation, amortization, stock-based compensation expense and minority interest, and excludes non-FFO gains on disposed assets. We use adjusted EBITDA to measure our operating performance and to provide investors relevant and useful information because it allows fixed income investors to view income from our operations on an unleveraged basis before the effects of non-cash items, such as depreciation and amortization.
Annualized Base Rent	Annualized Base Rent is calculated as monthly contractual base rent (cash basis) per the terms of the lease, as of period end, multiplied by 12.
Capital Expenditures	Capital expenditures include building improvements, development costs and leasing costs required to maintain current revenues and/or improve real estate assets.
Capital Expenditures Identified Upon Acquisition	Costs that were identified during the acquisition-related due diligence activity to renovate, rehabilitate and reposition real estate assets to market standards.
Cash Basis Rent Growth	Cash basis rent growth is the ratio of the change in base rent due in the first month after the lease commencement date compared to the base rent of the last month prior to the termination of the lease, excluding new leases where there were no prior comparable leases. Free rent periods are not considered.
Cash Net Operating Income	We calculate Cash Net Operating Income as Net Operating Income (as defined below) excluding non-cash amounts recorded for straight-line rents and the amortization of above/below market rents. See definition of Net Operating Income below for additional information.
Contributed Value	Represents the fair market value of real estate contributed to funds.
Effective Interest Rate	Reflects the impact to interest rates of GAAP adjustments for purchase price allocation and hedging transactions. These rates do not reflect the impact of other interest expense items such as fees and the amortization of loan costs.
Fixed Charges	Fixed charges include interest expense, increased for interest capitalized and our pro rata share of our unconsolidated joint venture debt and adjusted for amortization of discounts, premiums and loan costs.
Fixed Charge Coverage	We calculate Fixed Charge Coverage as adjusted EBITDA divided by total Fixed Charges.
Funds From Operations (“FFO”)	DCT Industrial believes that net income, as defined by GAAP, is the most appropriate earnings measure. However, DCT Industrial considers funds from operations (“FFO”), as defined by the National Association of Real Estate Investment Trusts (“NAREIT”), to be a useful supplemental measure of DCT Industrial’s operating performance. NAREIT developed FFO as a relative measure of performance of an equity REIT in order to recognize that the value of income-producing real estate historically has not depreciated on the basis determined under GAAP. FFO is generally defined as net income, calculated in accordance with GAAP, plus real estate-related depreciation and amortization, less gains (or losses) from dispositions of real estate held for investment purposes and adjustments to derive DCT Industrial’s pro rata share of FFO of consolidated and unconsolidated joint ventures. Readers should note that FFO captures neither the changes in the value of DCT Industrial’s properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of DCT Industrial’s properties, all of which have real economic effect and could materially impact DCT Industrial’s results from operations. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, DCT Industrial’s FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of DCT Industrial’s performance.
GAAP	United States generally accepted accounting principles.
GAAP Basis Rent Growth	GAAP basis rent growth is a ratio of the change in monthly Net Effective Rent (on a GAAP basis, including straight-line rent adjustments as required by GAAP) compared to the Net Effective Rent (on a GAAP basis) of the previous term. New leases where there were no prior comparable leases are excluded.
Held for Contribution	Represents properties anticipated to be contributed to a fund within 12 months.
Historical Cost	Represents historical undepreciated book value pursuant to GAAP, as of the period indicated, including acquisition fees.
Net Effective Rent	Average base rental rate over the term of the lease, calculated in accordance with GAAP.
Net Operating Income (“NOI”)	Net operating income (“NOI”) is defined as rental revenues, including expense reimbursements, less rental expenses and real estate taxes, and excludes depreciation, amortization, general and administrative expenses and interest expense. DCT Industrial considers NOI to be an appropriate supplemental performance measure because NOI reflects the operating performance of DCT Industrial’s properties and excludes certain items that are not considered to be controllable in connection with the management of the property such as depreciation, interest expense, interest income and general and administrative expenses. However, NOI should not be viewed as an alternative measure of DCT Industrial’s financial performance since it excludes expenses which could materially impact our results of operations. Further, DCT Industrial’s NOI may not be comparable to that of other real estate companies, as they may use different methodologies for calculating NOI. Therefore, DCT Industrial believes net income, as defined by GAAP, to be the most appropriate measure to evaluate DCT Industrial’s overall financial performance.

	Consolidated Operating Data						Same Store Operating Data						Consolidated Operating Data						Same Store Operating Data
	Three Months Ended December 31,						Three Months Ended December 31,						Twelve Months Ended December 31,						Twelve Months Ended December 31,
	2007			2006			2007			2006			2007			2006			2007			2006
Reconciliation of NOI to Net Income:
Net Operating Income	$	50,065		$	48,925		$	42,529		$	42,405		$	194,234		$	167,949		$	126,675		$	124,458
Net operating income - non-same store properties		N/A			N/A			5,239			5,502			N/A			N/A			67,359			42,148
Revenues related to early lease terminations and buyout, net		N/A			N/A			2,297			1,018			N/A			N/A			200			1,343
Other operating income (expense)		(32,099	)		(32,844	)		(32,099	)		(32,844	)		(132,076	)		(127,784	)		(132,076	)		(127,784	)
Other income and expenses		(13,611	)		(192,724	)		(13,611	)		(192,724	)		(57,567	)		(235,193	)		(57,567	)		(235,193	)
Minority interest		(699	)		21,634			(699	)		21,634			(584	)		22,338			(584	)		22,338
Discontinued operations		2,272			5,191			2,272			5,191			10,167			5,586			10,167			5,586
Gain (Loss) on dispositions of real estate interests, net of minority interests		(257	)		1,631			(257	)		1,631			25,938			9,061			25,938			9,061
Net income (loss)	$	5,671		$	(148,187	)	$	5,671		$	(148,187	)	$	40,112		$	(158,043	)	$	40,112		$	(158,043	)

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DCT INDUSTRIAL TRUST INC.

Definitions

Ratio of Consolidated Debt to Book Value of Total Assets (Before Depreciation)	Calculated as (total consolidated debt) / (total assets - accumulated depreciation and amortization).
Redevelopment	Represents assets acquired with the intention to reposition or redevelop. May include buildings taken out of service to redevelop where we generally expect to spend more than 20% of the building’s book value on capital improvements, if applicable.
Retention	Calculated as (retained square feet + relocated square feet) / ((retained square feet + relocated square feet + expired square feet) - (square feet of vacancies anticipated at acquisition + month-to-month square feet + bankruptcy square feet + early terminations)).
Sales Price	Contractual price of real estate sold before closing adjustments.
Same Store Population	The same store population is determined independently for each period presented, quarter-to-date and year-to-date, by including all consolidated operating properties that have been owned and stabilized for the entire current and prior periods presented.
Square Feet	Represents square feet in building that are available for lease.
Stabilized	Buildings are generally considered stabilized when 95% occupied, or up to approximately 18 months after completion of construction.
Stock-based Compensation Amortization Expense	Represents the non-cash amortization required by SFAS No. 123(R),Share-Based Payment, of the cost of employee services received in exchange for an award of an equity instrument based on the award’s fair value on the grant date and amortized over the vesting period.
Turnover Costs	Turnover costs are comprised of the costs incurred or capitalized for improvements of vacant and renewal spaces, as well as the commissions paid or costs capitalized for leasing transactions. The amount indicated for leasing statistics represents the total turnover costs expected to be incurred on the leases signed during the period and does not reflect actual expenditures for the period.
Yield - Acquisition	Calculated as stabilized Net Operating Income divided by Acquisition Price.
Yield - Development (Projected)	Calculated as projected stabilized Net Operating Income divided by projected development cost.

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