Thomas Properties 8-K Results of Operations and Financial Condition

Exhibit 99.1

Thomas Properties Group, Inc.

Supplemental Financial Information

For the Quarter Ended December 31, 2008

Thomas Properties Group, Inc.

Supplemental Financial Information

For the Quarter Ended December 31, 2008

TABLEOF CONTENTS

Corporate
Company Background	1
Supplemental Financial Information
Operating and Financial Information	2
Consolidated Statements of Operations	3
Consolidated Balance Sheets	4
Unconsolidated Real Estate Entities Statements of Operations	5
Unconsolidated Real Estate Entities Balance Sheets	6
Pro-Rata Consolidated Statements of Operations (Non-GAAP)	7
Pro-Rata Consolidated Balance Sheets (Non-GAAP)	9
Earnings Before Depreciation, Amortization and Taxes (Non-GAAP)	10
After Tax Cash Flow (Non-GAAP)	12
Investment Advisory, Management, Leasing and Development Services	14
Portfolio Data	15
Debt Summary	19
Capital Structure	21
Other Information	22

This supplemental financial information, together with other statements and information publicly disseminated by Thomas Properties Group, Inc., contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements reflect management’s current views with respect to financial results related to future events. Such statements are also based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial or otherwise, may differ from the results discussed in the forward-looking statements. Management does not undertake any obligation to update information provided in forward-looking statements other than regularly scheduled releases of information. A discussion of some of the factors that may affect our future results is set forth under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” in our annual reports on Form 10-K and our quarterly reports on Form 10-Q, which are filed with the SEC.

Thomas Properties Group, Inc.

Supplemental Financial Information

COMPANY BACKGROUND

Thomas Properties Group, Inc. (TPGI) is a full-service real estate operating company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. Our primary areas of focus are acquisition and ownership of premier properties (both on a consolidated basis and through strategic joint ventures), property development and redevelopment, and investment and property management activities.

Our properties are located in Southern California and Sacramento, California; Philadelphia, Pennsylvania; Northern Virginia; Houston, Texas; and Austin, Texas. As of December 31, 2008, we own interests in and asset manage 26 operating properties with 13.2 million rentable square feet and provide asset and/or property management services on behalf of third parties for an additional four operating properties with 2.2 million rentable square feet.

Our Investment Management Platform

Our sponsorship of partnerships and joint ventures provides us with additional institutional capital for investment and shared risk exposure. These entities provide us with the opportunity to earn fees for asset management, property management, leasing and other services, as well as possible carried interest or promote fees.

We have entered into an agreement with UBS Wealth Management – North American Property Fund Limited to acquire stabilized office properties in the United States. UBS has committed $250 million (all of which is unfunded), subject to certain conditions, and we expect to generally contribute 15% of the equity required for each acquisition. The objective of this joint venture program is to acquire Class A office properties in markets with attractive investment and demographic characteristics.

Our Thomas High Performance Green Fund is intended to invest in commercial properties to be developed or redeveloped into high performance, energy-efficient, high productivity buildings. The fund currently has total capital commitments of $180 million, of which we have committed $50 million, and all of which is unfunded. The Green Fund is expected to invest nationally, focusing on markets with green sensibility and attractive office fundamentals. Green Fund investments will potentially merit ratings from the U. S. Green Building Council’s LEED Green Building Rating System.

TPG/CalSTRS is a value-add/core-plus joint venture with total capital commitments of $378.3 million of which $21.5 million is unfunded. This joint venture, in which we own a 25% interest, currently owns twelve office properties. The joint venture also holds a

25% interest in a joint venture which owns an additional ten office properties in Austin, Texas.

Our Development Pipeline

We substantially completed construction and received certificates of occupancy for all of the condominium units at Murano, a 302-unit high rise residential condominium project in downtown Philadelphia, in the third quarter of 2008. We had closed the sale of 111 units and 107 parking spaces and had an additional 14 units and 12 parking spaces under contract of sale as of December 31, 2008. We recognize revenues and expenses related to the units and parking spaces sold and under contract under the percentage-of-completion method of accounting.

Our Campus El Segundo development project consists of 26.1 acres and is entitled for 1.9 million square feet of office, retail, research and development and hotel uses. All scheduled infrastructure improvements to the site, with the exception of the provision of permanent power, are complete.

We have been engaged by NBC Universal to entitle and master plan approximately 124 acres on their Universal Studios Hollywood backlot for housing and related retail and community-serving uses. We are pursuing environmental clearance and governmental approvals for approximately 2,937 residential units and 180,000 square feet of retail and community-serving space.

Separately, our entitlement efforts targeting approximately 1.5 million square feet proceed at MetroStudio@Lankershim in Los Angeles. The first phase of this transit-oriented development is planned to become television production facility and office space in conjunction with the space needs of NBC Universal. The project is located at the Metro Rail’s Universal City Station, and is being designed as a sustainable development targeting silver certification from the USGBC’s LEED Green Building Rating System.

1

Thomas Properties Group, Inc.

Supplemental Financial Information

OPERATINGAND FINANCIAL INFORMATION

Financial Measures

This supplemental financial information includes certain financial measures prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) under the full consolidation accounting method, and certain financial measures prepared in accordance with the pro-rata consolidation method (non-GAAP). Along with net income, we use two additional measures, Earnings before Depreciation, Amortization and Deferred Taxes (“EBDT”) and After Tax Cash Flow (“ATCF”), to report operating results. EBDT and ATCF are non-GAAP financial measures and may not be directly comparable to similarly-titled measures reported by other companies. We believe the financial measures presented under the pro-rata consolidation method provide supplemental information helpful to an understanding of our results of operations. Although these financial measures are not presented in accordance with GAAP, we believe these measures assist investors in understanding our business and operating results. We believe this information provides useful supplemental data regarding the underlying economics of our business operations because operating results presented under GAAP may include items that are nonrecurring or not necessarily relevant to ongoing operations, or difficult to forecast for future periods. Management uses these non-GAAP financial measures to review our company’s operating results for comparative purposes with respect to previous periods or forecasts, and also to evaluate future prospects. Our investors can also use these non-GAAP financial measures as supplementary information to evaluate operating performance. Our non-GAAP financial measures are not intended to be performance measures that should be regarded as alternatives to, or more meaningful than, our GAAP financial measures. Non-GAAP financial measures have limitations as they do not include all items of income and expense that affect our operations, and accordingly should always be considered as supplemental to our financial results presented in accordance with GAAP.

Pro-Rata Consolidated Statements of Operations and Pro-Rata Consolidated Balance Sheet

Included are pro-rata consolidated statements of operations, as well as a pro-rata consolidated balance sheet, because we believe this information is useful to investors as this method reflects the manner in which we operate our business, and provides more detailed information regarding the operations of the unconsolidated investments. We have made investments in which our economic ownership is less than 100% as a means of procuring additional investment opportunities and sharing risk. A significant amount of our business activity has and will continue to be conducted through our unconsolidated investments. Under GAAP, these investments are not consolidated in our financial statements. Under the pro-rata consolidation method, we present the results of our investments proportionate to our share of ownership. Our management considers the performance of our unconsolidated investments both individually and as a contributing factor to our operating performance for purposes of financial planning and making operating decisions. We believe this presentation of the performance of our unconsolidated investments is helpful to investors in understanding and evaluating our current operating performance as well as for purposes of period-to-period comparisons. We provide reconciliations from the full consolidation method to the pro-rata consolidation method in this supplemental financial information.

Earnings Before Depreciation, Amortization and Deferred Taxes (EBDT) and After Tax Cash Flow (ATCF)

EBDT and ATCF are non-GAAP financial measures and may not be directly comparable to similarly-titled measures reported by other companies. We present these financial measures under the pro-rata consolidation method to provide supplemental information helpful to an understanding of our results of operations. Although these financial measures are not presented in accordance with GAAP, we believe these measures assist investors in understanding our business and operating results. EBDT and ATCF reflect operating performance results for our company that assist management in evaluating trends for comparative and planning purposes. However our non-GAAP financial measures are not intended to be regarded as alternatives to, or more meaningful than, our GAAP financial measures.

See pages 10-11 for a discussion of EBDT and a reconciliation of EBDT to net income (loss) and pages 12-13 for a discussion of ATCF and a reconciliation of ATCF to net income (loss).

2

Thomas Properties Group, Inc.

Supplemental Financial Information

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

	Three months ended December 31,						Twelve months ended December 31,
	2008			2007			2008			2007
	(unaudited)			(unaudited)			(unaudited)			(audited)
Revenues:
Rental	$	7,206		$	8,072		$	30,523		$	32,646
Tenant reimbursements		5,758			6,474			25,874			26,371
Parking and other		1,122			1,076			3,869			3,917
Investments advisory, management, leasing and development services		1,624			1,841			7,194			12,750
Investment advisory, management, leasing, and development services- unconsolidated real estate entities		4,593			4,830			18,263			17,921
Reimbursement of property personnel costs		1,004			1,105			6,079			3,877
Condominium sales		—			—			79,758			—
Total revenues		21,307			23,398			171,560			97,482
Expenses:
Rental property operating and maintenance		6,731			5,862			25,608			22,690
Real estate taxes		1,720			1,509			6,482			6,087
Investment advisory, management, leasing, and development services		2,280			3,622			14,800			13,093
Reimbursable property personnel costs		1,004			1,105			6,079			3,877
Cost of condominium sales		848			—			63,076			—
Rent-unconsolidated real estate entities		93			60			284			241
Interest		7,206			5,316			20,946			17,721
Depreciation and amortization		3,268			2,828			11,766			11,604
General and administrative		2,855			4,334			16,411			17,326
Impairment loss		12,200			—			12,200			—
Total expenses		38,205			24,636			177,652			92,639
Gain on sale of real estate		—			1,151			3,618			4,441
Gain from early extinguishment of debt		—			—			255			—
Interest income		454			1,568			2,795			6,014
Equity in net loss of unconsolidated real estate entities		(3,720	)		(5,487	)		(12,828	)		(14,853	)
Minority interest – unitholders in the Operating Partnership		7,809			1,471			4,683			(249	)
Minority interests in consolidated real estate entities		65			35			198			122
(Loss) income before benefit (provision) for income taxes		(12,290	)		(2,500	)		(7,371	)		318
Benefit (provision) for income taxes		6,313			931			3,618			(1,221	)
Net loss	$	(5,977	)	$	(1,569	)	$	(3,753	)	$	(903	)
Loss per share-basic and diluted	$	(0.25	)	$	(0.07	)	$	(0.16	)	$	(0.04	)
Weighted average common shares-basic and diluted		23,724,453			23,643,502			23,693,577			20,739,371

3

Thomas Properties Group, Inc.

Supplemental Financial Information

CONSOLIDATED BALANCE SHEETS

(in thousands)

	December 31, 2008			December 31, 2007
	(unaudited)			(audited)
ASSETS
Investments in real estate:
Operating properties, net	$	274,784		$	237,250
Land improvements – development properties		101,495			73,979
Construction in progress		1,274			152,135
Condominium units held for sale		101,112			—
		478,665			463,364
Investments in unconsolidated real estate entities		33,791			49,199
Cash and cash equivalents		69,023			126,647
Restricted cash		16,665			26,251
Rents and other receivables, net		4,452			2,352
Above market rents, net		1,070			1,148
Receivables from condominium sales contracts, net		10,485			—
Receivables from unconsolidated real estate entities		4,701			6,640
Deferred rents		10,604			14,696
Deferred leasing and loan costs, net		15,018			13,051
Deferred tax asset		17,267			12,620
Other assets, net		5,120			4,924
Total assets	$	666,861		$	720,892
	December 31, 2008			December 31, 2007
	(unaudited)			(audited)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Mortgage, other secured, and unsecured loans	$	387,945		$	396,007
Accounts payable and other liabilities		27,750			53,531
Unrecognized tax benefits		17,078			16,305
Below market rents, net		920			946
Deferred revenue		819			4,171
Dividends and distributions payable		2,377			2,354
Due to affiliate		—			2,000
Prepaid rent		2,819			3,182
Total liabilities		439,708			478,496
Minority interests:
Unitholders in the Operating Partnership		87,039			95,245
Minority interests in consolidated real estate entities		3,773			4,581
Total minority interests		90,812			99,826
Stockholder’s equity:
Common stock		238			237
Limited voting stock		145			145
Additional paid-in capital		161,205			157,799
Retained deficit and dividends including $187 and $201 of other comprehensive loss as of December 31, 2008 and December 31, 2007, respectively		(25,247	)		(15,611	)
Total stockholders’ equity		136,341			142,570
Total liabilities and stockholders’ equity	$	666,861		$	720,892

4

Thomas Properties Group, Inc.

Supplemental Financial Information

UNCONSOLIDATED REAL ESTATE ENTITIES STATEMENTSOF OPERATIONS

(in thousands)

(unaudited)

The following are the combined statements of operations of our unconsolidated real estate entities for the three months and twelve months ended December 31, 2008 and 2007. See the list of our unconsolidated properties on page 15.

	Three months ended December 31,						Twelve months ended December 31,
	2008			2007			2008			2007
Revenues:
Rental	$	50,776		$	51,101		$	201,623		$	171,169
Tenant reimbursements		23,277			20,332			87,622			59,486
Parking and other		7,872			8,639			33,308			29,870
Total revenues		81,925			80,072			322,553			260,525
Expenses:
Rental property operating and maintenance		32,443			34,151			125,345			109,180
Real estate taxes		11,260			8,548			44,674			31,777
Interest		30,976			36,905			126,386			118,183
Depreciation and amortization		30,575			37,657			125,565			107,630
Impairment loss		4,840			—			4,840			—
Total expenses		110,094			117,261			426,810			366,770
Loss from continuing operations		(28,169	)		(37,189	)		(104,257	)		(106,245	)
Gain on sale of real estate		—			—			—			7,932
Minority interest		—			(26	)		—			(104	)
Gain (loss) from discontinued operations		1			(18	)		(104	)		(270	)
Net loss	$	(28,168	)	$	(37,233	)	$	(104,361	)	$	(98,687	)

5

Thomas Properties Group, Inc.

Supplemental Financial Information

UNCONSOLIDATED REAL ESTATE ENTITIES BALANCE SHEETS

(in thousands)

(unaudited)

The following are the combined balance sheets of our unconsolidated real estate entities as of December 31, 2008 and December 31, 2007. See the list of our unconsolidated properties on page 15.

	December 31, 2008		December 31, 2007
ASSETS
Investments in real estate, net	$	2,334,080	$	2,326,679
Land held for sale		3,835		3,418
Cash and cash equivalents		26,884		35,192
Restricted cash		64,395		83,263
Rents and other receivables, net		6,844		7,993
Above market rents, net		2,988		5,562
Deferred rents		65,534		54,963
Deferred leasing and loan costs, net		168,980		201,229
Other assets		5,705		5,289
Assets associated with discontinued operations		86		28
Total assets	$	2,679,331	$	2,723,616
LIABILITIES AND OWNERS’ EQUITY
Mortgage, other secured, and unsecured loans	$	2,237,717	$	2,162,556
Accounts and interest payable and other liabilities		103,167		109,975
Below market rents, net		80,467		99,002
Obligations associated with discontinued operations		121		23
Total liabilities		2,421,472		2,371,556
Owners’ equity		257,859		352,060
Total liabilities and owners’ equity	$	2,679,331	$	2,723,616

6

Thomas Properties Group, Inc.

Supplemental Financial Information

PRO-RATA CONSOLIDATED STATEMENTS OF OPERATIONS (NON-GAAP)

(in thousands)

(unaudited)

The following are the pro-rata consolidated statements of operations of TPGI for the three months ended December 31, 2008 and 2007, including reconciliation from the consolidated statements of operations to the pro-rata consolidated statements of operations.

	For the three months ended December 31, 2008								For the three months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Revenues:
Rental	$	7,206		$	9,579	$	16,785		$	8,072		$	9,484		$	17,556
Tenant reimbursements		5,758			3,961		9,719			6,474			3,062			9,536
Parking and other		1,122			1,368		2,490			1,076			1,433			2,509
Investment advisory, management, leasing and development services		1,624			—		1,624			1,841			—			1,841
Investment advisory, management, leasing, and development services-unconsolidated real estate entities		4,593			46		4,639			4,830			91			4,921
Reimbursement of property personnel costs		1,004			—		1,004			1,105			—			1,105
Condominium sales-percentage of completion		—			—		—			—			—			—
Total revenues		21,307			14,954		36,261			23,398			14,070			37,468
Expenses:
Rental property operating and maintenance		6,731			5,651		12,382			5,862			5,710			11,572
Real estate taxes		1,720			1,825		3,545			1,509			1,311			2,820
Investment advisory, management, leasing, and development services		2,280			—		2,280			3,622			—			3,622
Reimbursable property personnel costs		1,004			—		1,004			1,105			—			1,105
Cost of condominium sales – percentage of completion		848			—		848			—			—			—
Rent-unconsolidated real estate entities		93			—		93			60			—			60
Interest		7,206			5,138		12,344			5,316			6,437			11,753
Depreciation and amortization		3,268			4,904		8,172			2,828			6,285			9,113
General and administrative		2,855			—		2,855			4,334			—			4,334
Impairment loss		12,200			1,210		13,410			—			—			—
Total expenses		38,205			18,728		56,933			24,636			19,743			44,379
Gain on sale of real estate		—			—		—			1,151			—			1,151
Interest income		454			54		508			1,568			188			1,756
Equity in net loss of unconsolidated real estate entities		(3,720	)		3,720		—			(5,487	)		5,487			—
Minority interests – unitholders in the Operating Partnership		7,809			—		7,809			1,471			—			1,471
Minority interests in consolidated real estate entities		65			—		65			35			—			35
(Loss) income before loss from discontinued operations		(12,290	)		—		(12,290	)		(2,500	)		2			(2,498	)
Loss from discontinued operations		—			—		—			—			(2	)		(2	)
Loss before benefit for income taxes		(12,290	)		—		(12,290	)		(2,500	)		—			(2,500	)
Benefit for income taxes		6,313			—		6,313			931			—			931
Net loss	$	(5,977	)	$	—	$	(5,977	)	$	(1,569	)	$	—		$	(1,569	)

7

Thomas Properties Group, Inc.

Supplemental Financial Information

PRO-RATA CONSOLIDATED STATEMENTSOF OPERATIONS (NON-GAAP)

(in thousands)

(unaudited)

The following are the pro-rata consolidated statements of operations of TPGI for the twelve months ended December 31, 2008 and 2007, including reconciliation from the consolidated statements of operations to the pro-rata consolidated statements of operations.

	For the twelve months ended December 31, 2008									For the twelve months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Revenues:
Rental	$	30,523		$	38,600		$	69,123		$	32,646		$	35,322		$	67,968
Tenant reimbursements		25,874			14,893			40,767			26,371			10,647			37,018
Parking and other		3,869			5,551			9,420			3,917			5,177			9,094
Investment advisory, management, leasing and development services		7,194			—			7,194			12,750			—			12,750
Investment advisory, management, leasing, and development services-unconsolidated real estate entities		18,263			185			18,448			17,921			91			18,012
Reimbursement of property personnel costs		6,079			—			6,079			3,877			—			3,877
Condominium sales-percentage of completion		79,758			—			79,758			—			—			—
Total revenues		171,560			59,229			230,789			97,482			51,237			148,719
Expenses:
Rental property operating and maintenance		25,608			22,176			47,784			22,690			20,095			42,785
Real estate taxes		6,482			7,443			13,925			6,087			5,893			11,980
Investment advisory, management, leasing, and development services		14,800			—			14,800			13,093			—			13,093
Reimbursable property personnel costs		6,079			—			6,079			3,877			—			3,877
Cost of condominium sales – percentage of completion		63,076			—			63,076			—			—			—
Rent-unconsolidated real estate entities		284			—			284			241			—			241
Interest		20,946			21,011			41,957			17,721			23,140			40,861
Depreciation and amortization		11,766			20,508			32,274			11,604			19,712			31,316
General and administrative		16,411			—			16,411			17,326			—			17,326
Impairment loss		12,200			1,210			13,410			—			—			—
Total expenses		177,652			72,348			250,000			92,639			68,840			161,479
Gain on sale of real estate		3,618			—			3,618			4,441			1,983			6,424
Gain from early extinguishment of debt		255			—			255			—			—			—
Interest income		2,795			317			3,112			6,014			757			6,771
Equity in net loss of unconsolidated real estate entities		(12,828	)		12,828			—			(14,853	)		14,853			—
Minority interests – unitholders in the Operating Partnership		4,683			—			4,683			(249	)		—			(249	)
Minority interests in consolidated real estate entities		198			—			198			122			—			122
Income (loss) before (loss) income from discontinued operations		(7,371	)		26			(7,345	)		318			(10	)		308
(Loss) income from discontinued operations		—			(26	)		(26	)		—			10			10
Income before provision for income taxes		(7,371	)		—			(7,371	)		318			—			318
Provision for income taxes		3,618			—			3,618			(1,221	)		—			(1,221	)
Net loss	$	(3,753	)	$	—		$	(3,753	)	$	(903	)	$	—		$	(903	)

8

Thomas Properties Group, Inc.

Supplemental Financial Information

PRO-RATA CONSOLIDATED BALANCE SHEETS (NON-GAAP)

(in thousands)

(unaudited)

The following are the pro-rata consolidated balance sheets of TPGI as of December 31, 2008 and December 31, 2007, including reconciliation from the consolidated balance sheets to the pro-rata consolidated balance sheets.

	December 31, 2008							December 31, 2007
	Consolidated		Plus Unconsolidated Investments at Pro-Rata			Pro-Rata		Consolidated		Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
ASSETS
Investments in real estate, net	$	478,665	$	368,966		$	847,631	$	463,364	$	366,874		$	830,238
Investments in unconsolidated real estate entities		33,791		(33,791	)		—		49,199		(49,199	)		—
Land held for sale		—		959			959		—		855			855
Cash and cash equivalents		69,023		4,021			73,044		126,647		3,421			130,068
Restricted cash		16,665		13,095			29,760		26,251		15,354			41,605
Receivables from condominium sales contracts		10,485		—			10,485		—		—			—
Rents and other receivables, net		9,153		1,564			10,717		8,992		1,450			10,442
Above market rents, net		1,070		643			1,713		1,148		1,010			2,158
Deferred rents		10,604		14,221			24,825		14,696		13,038			27,734
Deferred leasing and loan costs, net		15,018		26,826			41,844		13,051		31,133			44,184
Deferred tax asset		17,267		—			17,267		12,620		—			12,620
Assets associated with discontinued operations		—		22			22		—		7			7
Other assets		5,120		1,047			6,167		4,924		787			5,711
Total assets	$	666,861	$	397,573		$	1,064,434	$	720,892	$	384,730		$	1,105,622
LIABILITIES AND STOCKHOLDERS’ EQUITY
Mortgage, other secured, and unsecured loans	$	387,945	$	372,999		$	760,944	$	396,007	$	355,897		$	751,904
Accounts payable and other liabilities		27,750		15,959			43,709		53,531		18,406			71,937
Unrecognized tax benefits		17,078		—			17,078		16,305		—			16,305
Below market rents, net		920		7,209			8,129		946		8,839			9,785
Deferred revenue		819		—			819		4,171		—			4,171
Dividends and distributions payable		2,377		—			2,377		2,354		—			2,354
Due to affiliate		—		—			—		2,000		—			2,000
Prepaid rent		2,819		1,376			4,195		3,182		1,582			4,764
Obligations associated with discontinued operations		—		30			30		—		6			6
Total liabilities		439,708		397,573			837,281		478,496		384,730			863,226
Minority interests		90,812		—			90,812		99,826		—			99,826
Total stockholders’ equity		136,341		—			136,341		142,570		—			142,570
Total liabilities and stockholders’ equity	$	666,861	$	397,573		$	1,064,434	$	720,892	$	384,730		$	1,105,622

9

Thomas Properties Group, Inc.

Supplemental Financial Information

EARNINGS BEFORE DEPRECIATION, AMORTIZATION AND TAXES (EBDT) (NON-GAAP)

(in thousands, except share and per share data)

(unaudited)

We use EBDT as a supplemental performance measure. EBDT excludes the following items: i) income tax expense (benefit); ii) minority interests; iii) non-cash charges for depreciation and amortization; and iv) amortization of loan costs. EBDT provides a performance measure that, when compared year over year, reflects the impact to operations from changes in occupancy, rental rates, operating costs, development and redevelopment activities, general and administrative expenses, and interest costs; and EBDT provides perspective on operating performance not immediately apparent from net income. EBDT should be considered only as a supplement to net income as a measure of our performance. EBDT also assists our management in identifying trends for purposes of financial planning and forecasting results. However, the usefulness of EBDT as a performance measure is limited and EBDT should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs. EBDT also should not be used as a supplement to or substitute for cash flow from operating activities (computed in accordance with GAAP) or as an alternative to net income (loss) as an indicator of our operating performance.

Reconciliation of Net Income (Loss) to EBDT:

	For the three months ended December 31, 2008								For the three months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata
Net loss	$	(5,977	)	$	—	$	(5,977	)	$	(1,569	)	$	—	$	(1,569	)
Income tax benefit		(6,313	)		—		(6,313	)		(931	)		—		(931	)
Minority interests – unitholders in the Operating Partnership		(7,809	)		—		(7,809	)		(1,506	)		—		(1,506	)
Depreciation and amortization		3,268			4,904		8,172			2,828			6,285		9,113
Amortization of loan costs		212			194		406			82			437		519
		(16,619	)	$	5,098	$	(11,521	)		(1,096	)		6,722		5,626
TPGI share of EBDT (1)	$	(10,163	)	$	3,118	$	(7,045	)	$	(663	)	$	4,068	$	3,405
EBDT per share – basic						$	(0.30	)						$	0.14
EBDT per share – diluted						$	(0.30	)						$	0.14
Weighted average common shares outstanding – basic							23,724,453								23,643,502
Weighted average common shares outstanding - diluted							23,724,453								23,643,502

(1) Based on an interest in our operating partnership of 61.15% and 60.53% for the three months ended December 31, 2008 and 2007, respectively.

10

Thomas Properties Group, Inc.

Supplemental Financial Information

EARNINGS BEFORE DEPRECIATION, AMORTIZATION AND TAXES (EBDT) (NON-GAAP)

(in thousands, except share and per share data)

(unaudited)

Reconciliation of Net Income (Loss) to EBDT:

	For the twelve months ended December 31, 2008								For the twelve months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata
Net loss	$	(3,753	)	$	—	$	(3,753	)	$	(903	)	$	—	$	(903	)
Income tax expense		(3,618	)		—		(3,618	)		1,221			—		1,221
Minority interests – unitholders in the Operating Partnership		(4,683	)		—		(4,683	)		127			—		127
Depreciation and amortization		11,766			20,508		32,274			11,604			19,712		31,316
Depreciation and amortization from discontinued operations		—			—		—			—			12		12
Amortization of loan costs		449			1,284		1,733			327			1,681		2,008
	$	161		$	21,792	$	21,953			12,376			21,405		33,781
TPGI share of EBDT (1)	$	98		$	13,326	$	13,424		$	6,943		$	12,008	$	18,951
EBDT per share – basic						$	0.57							$	0.91
EBDT per share – diluted						$	0.57							$	0.91
Weighted average common shares outstanding – basic							23,693,577								20,739,371
Weighted average common shares outstanding - diluted							23,693,577								20,766,182

(1) Based on an interest in our operating partnership of 61.15% and 56.1% for the twelve months ended December 31, 2008 and 2007, respectively.

11

Thomas Properties Group, Inc.

Supplemental Financial Information

AFTER TAX CASH FLOW (ATCF) (NON-GAAP)

(in thousands, except share and per share data)

(unaudited)

We define ATCF as net income (loss) excluding the following items: i) income tax expense (benefit); ii) minority interests; iii) non-cash charges for depreciation, amortization and asset impairment; iv) amortization of loan costs; v) non-cash compensation expense; vi) the adjustment to recognize rental revenues using the straight-line method; and vii) the adjustment to rental revenue to reflect the fair-market value of rents. Our management utilizes ATCF data in assessing performance of our business operations in period to period comparisons and for financial planning purposes. ATCF should be considered only as a supplement to net income as a measure of our performance. ATCF should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs. ATCF also should not be used as a supplement to or substitute for cash flow from operating activities (computed in accordance with GAAP).

Reconciliation of Net Income (Loss) to ATCF:

	For the three months ended December 31, 2008									For the three months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Net loss	$	(5,977	)	$	—		$	(5,977	)	$	(1,569	)	$	—		$	(1,569	)
Income tax benefit		(6,313	)		—			(6,313	)		(931	)		—			(931	)
Minority interests – unitholders in the Operating Partnership		(7,809	)		—			(7,809	)		(1,506	)		—			(1,506	)
Depreciation and amortization		3,268			4,904			8,172			2,828			6,285			9,113
Amortization of loan costs		212			194			406			82			437			519
Non-cash compensation expense		1,038			—			1,038			849			—			849
Straight-line rent adjustments		320			(454	)		(134	)		1,473			(669	)		804
Fair market value of rent adjustments		20			(338	)		(318	)		(12	)		(613	)		(625	)
Impairment loss		12,200			1,210			13,410			—			—			—
ATCF before income taxes	$	(3,041	)	$	5,516		$	2,475		$	1,214		$	5,440		$	6,654
TPGI share of ATCF before income taxes (1)	$	(1,860	)	$	3,374		$	1,514		$	735		$	3,293		$	4,028
TPGI income tax expense-current		(294	)		—			(294	)		—			—			—
TPGI share of ATCF	$	(2,154	)	$	3,374		$	1,220		$	735		$	3,293		$	4,028
ATCF per share – basic							$	0.05								$	0.17
ATCF per share – diluted							$	0.05								$	0.17
Weighted average common shares outstanding- basic								23,724,453									23,643,502
Weighted average common shares outstanding -diluted								23,724,453									23,643,502

(1) Based on an interest in our operating partnership of 61.15% and 60.53% for the three months ended December 31, 2008 and 2007, respectively.

12

Thomas Properties Group, Inc.

Supplemental Financial Information

AFTER TAX CASH FLOW (ATCF) (NON-GAAP)

(in thousands, except share and per share data)

(unaudited)

Reconciliation of Net Income (Loss) to ATCF:

	For the twelve months ended December 31, 2008									For the twelve months ended December 31, 2007
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Net loss	$	(3,753	)	$	—		$	(3,753	)	$	(903	)	$	—		$	(903	)
Income tax expense		(3,618	)		—			(3,618	)		1,221			—			1,221
Minority interests – unitholders in the Operating Partnership		(4,683	)		—			(4,683	)		127			—			127
Depreciation and amortization		11,766			20,508			32,274			11,604			19,712			31,316
Depreciation and amortization from discontinued operations		—			—			—			—			12			12
Amortization of loan costs		449			1,284			1,733			327			1,681			2,008
Non-cash compensation expense		3,495			—			3,495			3,765			—			3,765
Straight-line rent adjustments		3,433			(2,332	)		1,101			5,857			(3,410	)		2,447
Fair market value of rent adjustments		(80	)		(1,357	)		(1,437	)		(16	)		(1,428	)		(1,444	)
Impairment loss		12,200			1,210			13,410			—			—			—
ATCF before income taxes	$	19,209		$	19,313		$	38,522		$	21,982		$	16,567		$	38,549
TPGI share of ATCF before income taxes (1)	$	11,746		$	11,810		$	23,556		$	12,332		$	9,294		$	21,626
TPGI income tax expense-current		(294	)		—			(294	)		—			—			—
TPGI share of ATCF	$	11,452		$	11,810		$	23,262		$	12,332		$	9,294		$	21,626
ATCF per share – basic							$	0.98								$	1.04
ATCF per share – diluted							$	0.98								$	1.04
Weighted average common shares outstanding - basic								23,693,577									20,739,371
Weighted average common shares outstanding - diluted								23,693,577									20,766,182

(1) Based on an interest in our operating partnership of 61.15% and 56.1% for the twelve months ended December 31, 2008 and 2007, respectively.

13

Thomas Properties Group, Inc.

Supplemental Financial Information

INVESTMENT ADVISORY, MANAGEMENT, LEASING AND DEVELOPMENT SERVICES

(in thousands)

(unaudited)

	Three months ended December 31,						Twelve months ended December 31,
	2008			2007			2008			2007
Property management, leasing, and development service fees	$	6,480		$	6,795		$	29,297		$	24,934
Investment advisory fees:
Asset management fees		2,037			2,045			7,102			7,536
Acquisition and disposition fees		—			150			—			7,833
Total fees		8,517			8,990			36,399			40,303
Investment advisory, management, leasing and development services expenses		(2,280	)		(3,622	)		(14,800	)		(13,093	)
Net investment advisory, management, leasing and development services income	$	6,237		$	5,368		$	21,599		$	27,210
Reconciliation to GAAP Presentation:
Total fees	$	8,517		$	8,990		$	36,399		$	40,303
Elimination of intercompany fee revenues		(2,300	)		(2,319	)		(10,942	)		(9,632	)
Investment advisory, management, leasing and development services revenues	$	6,217		$	6,671		$	25,457		$	30,671

14

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATA AS OF DECEMBER 31, 2008

Our Ownership Properties

	Location	TPGI Percentage Interest		Rentable Square Feet (1)	Percent Leased		Estimated Year Stabilized (2)	Estimated Stabilized Net Operating Income (NOI) (3)			Expected Capital Expenditures to Complete Stabilization (4)		Loan Balance at December 31, 2008
Consolidated properties:
One Commerce Square	Philadelphia, PA	100.0	%	942,866	92.9	%		$	13,569,000		$	—	$	130,000,000
Two Commerce Square	Philadelphia, PA	100.0		953,276	86.1		2012		16,307,000			12,225,000		144,614,000
Four Points Centre (B2)	Austin, TX	100.0		192,000	—		2010		3,185,000			8,239,000		28,527,000
Total/Weighted Average				2,088,142	81.3	%		$	33,061,000		$	20,464,000	$	303,141,000
Unconsolidated properties:
2121 Market Street	Philadelphia, PA	50.0	%	22,136	100.0	%		$	2,214,000	(5)			$	18,826,000
Reflections I	Reston, VA	25.0		123,546	100.0				2,856,000					22,169,000
Reflections II	Reston, VA	25.0		64,253	100.0				1,296,000					9,236,000
Oak Hill Plaza	King of Prussia, PA	25.0		164,360	98.4				2,815,000					44,452,000
2500 City West	Houston, TX	25.0		578,284	98.9				7,547,000					81,378,000
San Felipe Plaza	Houston, TX	25.0		980,472	96.4				13,060,000					117,700,000
City West Place	Houston, TX	25.0		1,473,020	99.0				23,473,000					213,400,000
Fair Oaks Plaza	Fairfax, VA	25.0		179,688	83.5				2,725,000					44,300,000
San Jacinto Center	Austin, TX	6.3		410,248	99.2				6,081,000					101,000,000
Research Park Plaza I & II	Austin, TX	6.3		271,882	99.6				3,779,000					51,500,000
Stonebridge Plaza II	Austin, TX	6.3		193,131	98.4				2,932,000					37,500,000
Frost Bank Tower	Austin, TX	6.3		535,078	89.0		2010		12,642,000			7,592,000		150,000,000
300 West 6th Street	Austin, TX	6.3		454,225	89.0		2010		10,616,000			3,312,000		127,000,000
Walnut Hill Plaza	King of Prussia, PA	25.0		150,573	55.3		2010		1,548,000			5,078,000		-	(6)
One Congress Plaza	Austin, TX	6.3		518,385	89.4		2011		10,571,000			7,629,000		128,000,000
Park 22 I-III	Austin, TX	6.3		203,716	87.8		2011		2,488,000			2,996,000		-	(7)
City National Plaza	Los Angeles, CA	21.3		2,496,084	81.6		2011		59,372,000			38,157,000		573,400,000
Four Falls Corporate Center	Conshohocken, PA	25.0		253,985	77.6		2011		4,046,000			6,041,000		52,067,000
Brookhollow Central I, II and III	Houston, TX	25.0		805,967	64.0		2011		9,786,000			38,039,000		58,394,000
Centerpointe I, II	Fairfax, VA	25.0		421,651	52.9		2011		8,854,000			23,119,000		94,895,000
One American Center	Austin, TX	6.3		503,951	85.0		2011		9,420,000			10,671,000		120,000,000
Westech 360 I-IV	Austin, TX	6.3		178,777	56.7		2011		2,789,000			4,840,000		-	(7)
Great Hills Plaza	Austin, TX	6.3		135,333	73.9		2012		1,894,000			1,997,000		-	(7)
Total/Weighted Average				11,118,745	86.1	%		$	202,804,000		$	149,471,000	$	2,045,217,000
Total/Weighted Average All Properties				13,206,887	85.3	%		$	235,865,000		$	169,935,000	$	2,348,358,000
TPGI Share				4,143,619	83.4	%		$	70,268,000		$	49,102,000	$	664,109,000

Footnotes on following page.

15

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATA AS OF DECEMBER 31, 2008 - CONTINUED

Footnotes to Portfolio Data on previous page:

(1) For purposes of the tables on the previous page, both on-site and off-site parking is excluded. Total portfolio square footage includes office properties and mixed-use space (including retail), but excludes 168 apartment units at 2121 Market Street.

(2) For properties under renovation, represents the year in which stabilization, or approximately 93% occupancy, is expected to occur.

(3) For properties currently stabilized, the estimated stabilized net operating income (NOI) represents the sum of i) the annualized straight-line rent under existing leases which were in place as of December 31, 2008, calculated as if the leases began as of December 31, 2008; and ii) estimated parking and other income, less estimated operating expenses. For properties expected to become stabilized in future years, estimated stabilized NOI represents the sum of i) the annualized straight-line rent under existing leases which will be in place in the year the properties are stabilized, calculated as if the leases began in the year of stabilization; ii) the annualized expected straight-line market rent for the remaining space (up to the stabilized occupancy percentage); and iii) estimated parking and other income, less estimated operating expenses.

(4) For properties under renovation, represents the capital expenditures, including tenant improvements and leasing commissions, expected to be spent to complete the stabilization of the property.

(5) The square footage and occupancy information presented for 2121 Market Street represents the information for two retail/office tenants only; the NOI includes 168 residential units comprising 132,823 square feet.

(6) Oak Hill Plaza and Walnut Hill Plaza are co-borrowers under a loan agreement. The loan balance of this property is included with the Oak Hill Plaza loan balance.

(7) Three of our Austin, Texas properties carry first mortgage liens and our seven remaining Austin properties provide secondary equity pledges to secure a bank term loan in the aggregate amount of $192.5 million.

Lease Expirations

In the tables below, for properties where existing leases have been renewed or replaced, the later expiration date is used.

Consolidated Properties Lease Expiration						Unconsolidated Properties Lease Expirations						TPGI Percentage Interest Unconsolidated Properties Lease Expirations
Year	Expiring Rentable Square Feet	Annualized Rent Per Leased Square Foot		Annualized Rent Per Leased Square Foot at Expiration		Year	Expiring Rentable Square Feet	Annualized Rent Per Leased Square Foot		Annualized Rent Per Leased Square Foot at Expiration		Year	Expiring Rentable Square Feet	Annualized Rent Per Leased Square Foot		Annualized Rent Per Leased Square Foot at Expiration
Vacant	414,741	$	—	$	—	Vacant	1,575,847	$	—	$	—	Vacant	303,060	$	—	$	—
2009	122,332		19.13		14.60	2009	627,966		15.73		16.10	2009	95,751		13.50		13.96
2010	102,522		20.48		17.45	2010	891,203		16.24		16.48	2010	151,282		17.15		17.45
2011	68,097		14.78		16.04	2011	712,373		16.11		17.99	2011	110,709		16.05		17.52
2012	129,539		14.63		15.63	2012	893,119		16.94		19.87	2012	150,299		15.38		18.66
2013	322,047		18.26		20.46	2013	788,555		25.26		32.96	2013	128,751		28.32		39.53
Thereafter	928,864		17.83		23.71	Thereafter	5,629,682		13.36		21.00	Thereafter	1,115,625		12.96		20.56
Total	2,088,142					Total	11,118,745					Total	2,055,477

16

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATA AS OF DECEMBER 31, 2008 - CONTINUED

Our Development Properties

Currently Under Construction:
	Location	TPGI Percentage Interest		Description	Construction Start Date/ Expected Completion Date	Projected Total Cost (in thousands)		Costs Incurred to Date (in thousands)		Loan Balance (in thousands)
Four Points Centre –retail out parcel	Austin, TX	100.0	%	One retail building totaling 4,800 rentable square feet	Third quarter 2008/Second quarter 2009	$	1,390	$	1,274	—

Pre-Development:
	Location	TPGI Percentage Interest		Number of Acres	Potential Property Types	Potential Square Feet Upon Completion	Potential Number of Units Upon Completion	Costs Incurred to Date (in thousands)			Loan Balance (in thousands)
Campus El Segundo (1)	El Segundo, CA	100.0	%	26.1	Office/Retail/R&D/Hotel	1,800,000		$	59,812		$	17,000
Universal Village (2)	Los Angeles, CA	NA		124.0	Residential/Retail	180,000	2,937
MetroStudio@Lankershim (3)	Los Angeles, CA	NA		14.4	Office/Production Facility	1,500,000			16,643
Four Points Centre	Austin, TX	100.0	%	252.5	Office/Retail/R&D/Hotel	1,680,000			18,512	(4)
2100 JFK Boulevard	Philadelphia, PA	100.0	%	0.7	Office/Retail/R&D/Hotel	366,000			5,051
2500 City West land	Houston, TX	25.0	%	6.3	Office/Retail/Residential/ Hotel	500,000			3,648
CityWestPlace land	Houston, TX	25.0	%	25.0	Office/Retail/Residential	1,500,000			21,351
						7,526,000	2,937	$	125,017		$	17,000

Condominium Units Held for Sale:
	Location	TPGI Percentage Interest	Description	Construction Completion Date	Book Carrying Value (in thousands)	Loan Balance (in thousands)
Murano (5)	Philadelphia, PA	73.0%(6)	43-story for-sale condominium project containing 302 units; 177 remaining for sale	Third quarter 2008	$101,112	$63,904

(1) We completed infrastructure improvements to the Campus El Segundo development site, including installing underground utilities, rough grading, and streetscape improvements. The first phase of development is anticipated to include a 225,000 square foot, six-story Class A office building and parking structure to be constructed on 2.7 acres, which we are currently marketing to prospective tenants.

(2) We have been engaged by NBC Universal to entitle, master plan and have a right of first offer (ROFO) to develop approximately 124 acres on their Universal Studios Hollywood backlot for residential and related retail and community-serving uses. We are pursuing environmental clearance and governmental approvals for approximately 2,937 residential units and 180,000 square feet of retail and community-serving space. Upon successful completion of the entitlement process, and our exercise of the ROFO, it is anticipated this project will be developed in phases over several years, subject to market conditions.

(3) We are currently entitling this property, targeting approximately 1.5 million square feet. The first phase of this transit-oriented development is planned to become a state-of-the-art digital television production facility and office space, and to serve as NBC Universal’s West Coast News and Content Center. We expect to enter into a long-term ground lease with the Los Angeles Metropolitan Transportation Authority (which owns the land) upon completion of entitlements.

(4) Costs do not include approximately 1.9 acres of land with carrying value of $0.6 million related to a ground lease we have with a retail tenant.

(5) We have substantially completed construction and received certificates of occupancy for 100% of the condominium units at Murano. As of December 31, 2008, we had closed the sale of 111 units and 107 parking spaces and had an additional 14 units and 12 parking spaces under contract of sale. We recognize revenues and expenses related to the units and parking spaces sold and under contract under the percentage of completion method of accounting.

(6) We have a $20.5 million preferred equity interest in Murano. Excluding the preferred equity interest, we hold a 73% interest in the property.

17

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATAASOF DECEMBER 31, 2008 - CONTINUED

Our Managed Properties

Managed Properties	Location	Year Built Renovated	Rentable Square Feet	Percent Leased
800 South Hope Street	Los Angeles, CA	1985/2000	242,176	97.3	%
Pacific Financial Plaza	Newport Beach, CA	1982/1993	279,474	96.8
1835 Market Street	Philadelphia, PA	1987	686,503	86.2
CalEPA Headquarters	Sacramento, CA	2000	950,939	100.0
Total/Weighted Average			2,159,092	94.9	%

18

Thomas Properties Group, Inc.

Supplemental Financial Information

DEBT SUMMARY

(in thousands)

The table below summarizes our outstanding consolidated debt as of December 31, 2008. None of these loans are recourse to us except for our Campus El Segundo mortgage loan, a partial guarantee on our Four Points Centre construction loan of $13.3 million, and our former minority partner loan.

Secured debt	Interest Rate at December 31, 2008		Outstanding Debt		Maturity Date		Maturity Date at end of Extension Options
One Commerce Square mortgage loan	5.7	%	$	130,000	1/6/2016		1/6/2016
Two Commerce Square:
Mortgage loan	6.3			108,579	5/9/2013		5/9/2013
Senior mezzanine loan	19.3			31,573	1/9/2010		1/9/2010
Junior mezzanine loan	15.0			4,462	1/9/2010		1/9/2010
Campus El Segundo mortgage loan	3.3			17,000	10/10/2009	(1)	10/10/2010
Four Points Centre construction loan	3.3			28,527	6/11/2010	(2)	6/11/2012
Murano construction loan	7.3			63,904	7/31/2009	(3)	7/31/2010
Total secured debt			$	384,045
Unsecured debt
Former minority partner	5.0		$	3,900	10/12/2009	(4)	10/12/2009
Total secured and unsecured debt			$	387,945
Weighted average interest rate at December 31, 2008	7.0	%

(1) The loan has a one-year extension option at our election, subject to an extension fee of 0.25% of the total commitment amount of the loan and at the lenders option, a written appraisal may be required. In the event the loan to value exceeds 65%, we must pay down the outstanding principal to meet the 65% loan to value. In addition, the lender may require a $5 million pay down on the loan.

(2) The loan has two one-year extension options at our election subject to certain conditions. The first extension option and the second extension option are subject to achievement of 75% and 90% occupancy, respectively, an extension fee of 0.125% of the loan commitment, and at the lenders option, a written appraisal and a loan to value not to exceed 75%. The second extension is also subject to a minimum debt to yield ratio of 8.65%.

(3) The loan has two six-month extension options. The first and second extensions are each conditioned on the closing of 100 residential units, which has occurred. Each extension fee is 0.5% of the outstanding principal balance and unfunded commitments and may be reduced to 0.25% if certain conditions are met.

(4) Payment of interest is deferred until the maturity date, at which time the total principal and accrued interest balance will be $4,740,000.

19

Thomas Properties Group, Inc.

Supplemental Financial Information

DEBT SUMMARY – CONTINUED

(in thousands)

The table below summarizes the outstanding debt for the unconsolidated properties as of December 31, 2008. None of these loans are recourse to us other than as noted in footnote 8 below.

	Interest Rate at December 31, 2008		Principal Amount			TPGI Share of Principal Amount		Maturity Date		Maturity Date at end of Extension Options
City National Plaza	2.3	%	$	573,400		$	122,365	7/9/2009	(1)	7/9/2010
CityWestPlace
Senior mortgage loan (Buildings I & II)	6.2			121,000			30,250	7/6/2016		7/6/2016
Senior mortgage loan (Buildings III & IV)	1.6			92,400			23,100	7/1/2009	(2)	7/1/2011
San Felipe	5.0			117,700			29,425	8/11/2010		8/11/2010
2500 City West	5.0			81,378			20,345	8/11/2010		8/11/2010
Brookhollow Central I, II, and III	3.3			58,394			14,600	8/9/2009	(3)	8/9/2010
Four Falls Corporate Center	5.0			52,067	(6)		13,017	3/6/2010		3/6/2010
Oak Hill Plaza/Walnut Hill Plaza	5.0			44,452	(7)		11,113	3/6/2010		3/6/2010
2121 Market Street	6.1			18,826	(8)		9,413	8/1/2033		8/1/2033
Reflections I	5.2			22,169			5,542	4/1/2015		4/1/2015
Reflections II	5.2			9,236			2,309	4/1/2015		4/1/2015
Centerpointe I and II	2.0			94,895			23,724	2/9/2010	(4)	2/9/2012
Fair Oaks Plaza	5.5			44,300			11,075	2/9/2017		2/9/2017
San Jacinto	6.1			101,000			6,313	6/11/2017		6/11/2017
Frost Bank Tower	6.1			150,000			9,375	6/11/2017		6/11/2017
One Congress Plaza	6.1			128,000			8,001	6/11/2017		6/11/2017
One American Center	6.0			120,000			7,500	6/11/2017		6/11/2017
300 W. 6th St.	6.0			127,000			7,938	6/11/2017		6/11/2017
Research Park Plaza I & II	1.8			51,500			3,219	6/9/2009	(5)	6/9/2012
Stonebridge Plaza II	1.6			37,500			2,344	6/9/2009	(5)	6/9/2012
Austin bank term loan	5.8			192,500			12,031	6/1/2013		6/1/2013
			$	2,237,717		$	372,999
Weighted average interest rate at December 31, 2008	4.3	%

(1) The loan has a remaining one-year extension option remaining at our election subject to a 75% loan to value ratio for all senior debt combined and 80% loan to value ratio for senior debt and junior mezzanine debt combined.

(2) The loan has two one-year extension options at our election.

(3) The loan has a one-year extension option at our election.

(4) The loan has two one-year extension options at our election, subject to a debt service coverage ratio of 1:1.

(5) The loan has three one-year extension options at our election.

(6) $9.9 million of this loan is secured by both a subordinate lien on the property and a payment guaranty issued by the partnership, which owns Oak Hill Plaza/Walnut Hill Plaza.

(7) $9.2 million of this loan is secured by both a subordinate lien on the property and a payment guaranty issued by the partnership, which owns Four Falls Corporate Center.

(8) The loan is guaranteed by our operating partnership and our co-general partner in the partnership that owns 2121 Market Street, up to a maximum amount of $3.3 million.

20

Thomas Properties Group, Inc.

Supplemental Financial Information

CAPITAL STRUCTURE

(in thousands, except share data)

The following is the capital structure of TPGI as of December 31, 2008:

Debt		Aggregate Principal
Mortgage loans		$	255,579
Other loans			132,366
Total consolidated debt			387,945
Company share of unconsolidated debt			372,999
Total combined debt		$	760,944
Equity	Shares/Units Outstanding	Market Value (1)
Common stock	23,853,904	$	61,782
Operating partnership units (2)	15,242,781		39,479
Total common equity	39,096,685	$	101,261
Total consolidated market capitalization		$	489,206
Total combined market capitalization (3)		$	862,205

(1) Based on the closing price of $2.59 per share of TPGI common stock on December 31, 2008.

(2) Includes operating partnership units outstanding and vested incentive units as of December 31, 2008.

(3) Includes TPGI’s share of debt of unconsolidated real estate entities.

21

Thomas Properties Group, Inc.

Supplemental Financial Information

OTHER INFORMATION

Principal Corporate Office

Thomas Properties Group, Inc.

515 South Flower Street

Sixth Floor

Los Angeles, CA 90071

Phone: (213) 613-1900

Fax: (213) 633-4760

www.tpgre.com

The information contained on our website is not incorporated herein by reference and does not constitute a part of this supplemental financial information.

Investor Relations	Transfer Agent and Registrar	Stock Market Listing
Diana M. Laing	Computershare Trust Company	NASDAQ: TPGI
Chief Financial Officer	P.O. Box 43023
515 South Flower Street	Providence, RI 02940-3023
Sixth Floor	Phone: (781) 575-2879
Los Angeles, CA 90071
Phone: (213) 613-1900
E-mail: dlaing@tpgre.com

Board of Directors and Executive Officers

James A. Thomas	Chairman, President and CEO
Randall L. Scott	Executive Vice President, Director
John R. Sischo	Executive Vice President, Director
Paul S. Rutter	Executive Vice President and General Counsel
Thomas S. Ricci	Executive Vice President
Diana M. Laing	Chief Financial Officer and Secretary
Robert D. Morgan	Senior Vice President, Accounting and Administration
R. Bruce Andrews	Director
Edward D. Fox	Director
John L. Goolsby	Director
Winston H. Hickox	Director

22