First Potomac Realty Trust (FPO) 8-K Other Events

EXHIBIT 12

FIRST POTOMAC REALTY TRUST AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(amounts in thousands)

	2007			2006			2005			2004			2003
Income (loss) from continuing operations, before taxes	$	(1,763	)	$	209		$	(1,534	)	$	(1,886	)	$	(10,649	)
Add (deduct):
Fixed charges		37,181			29,097			20,332			11,173			10,760
Capitalized interest		(1,312	)		(318	)		—			—			—
Minority interests		(56	)		7			(109	)		(262	)		(10	)
Equity in losses of affiliates		—			—			—			—			47
Distributions from affiliates		—			—			—			—			2,728
Adjusted earnings	$	34,050		$	28,995		$	18,689		$	9,025		$	2,876
Fixed charges:
Interest expense	$	35,587		$	28,500		$	20,191		$	11,091		$	10,733
Rent expense representative of interest factor		282			279			141			82			27
Capitalized interest		1,312			318			—			—			—
Total fixed charges	$	37,181		$	29,097		$	20,332		$	11,173		$	10,760
Deficiency of earnings to fixed charges	$	(3,131	)	$	(102	)	$	(1,643	)	$	(2,148	)	$	(7,884	)