Thomas Properties 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

Thomas Properties Group, Inc.

Supplemental Financial Information

For the Quarter Ended September 30, 2010

Thomas Properties Group, Inc.

Supplemental Financial Information

For the Quarter Ended September 30, 2010

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 (EBDT) (Non-GAAP)	10
After Tax Cash Flow (ATCF) (Non-GAAP)	12
Investment Advisory, Management, Leasing and Development Services	14
Portfolio Data	16
Debt Summary	21
Capital Structure	23
Other Information	24

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 Securities and Exchange Commission.

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 company’s primary areas of focus are the acquisition and ownership of interests in premier properties, 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 September 30, 2010, we own interests in and asset manage 27 operating properties with 13.2 million rentable square feet and provide leasing, asset and/or property management services on behalf of third parties for an additional five operating properties with 2.6 million rentable square feet.

Our Investment Management Platform

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

TPG/CalSTRS, LLC (“TPG/CalSTRS”) is a value-add/core-plus joint venture with the California State Teachers’ Retirement System (“CalSTRS”), which has total capital commitments of $511.7 million of which $24.8 million and $19.0 million is currently unfunded by CalSTRS and us, respectively. This joint venture, in which our operating partnership, Thomas Properties Group, L.P. (“TPG”), is the managing member, currently owns 12 office properties. The joint venture also holds a 25.0% interest in a separate joint venture which owns an additional ten office properties in Austin, Texas.

Significant Recent Events

During the third quarter, TPG and Brandywine Realty Trust (“BDN”) entered into contribution agreements whereby BDN has agreed to invest in partnerships with TPG that own Commerce Square in Philadelphia, Pennsylvania, which are currently wholly-owned by TPG. BDN will contribute a total of $25 million of preferred equity to the partnerships, and will become a 25% limited partner. BDN’s preferred equity will be contributed $5 million at closing with the balance to be contributed by December 31, 2012. The transaction is subject to customary closing conditions and expected to close in the fourth quarter of 2010. The preferred equity will be invested in a value-enhancement program designed to increase rental rates and occupancy at Commerce Square.

During the third quarter, we continued to sell condominium residences at Murano, and closed the sales of 9 units at an average price of $467 per square foot, resulting in a reduction of approximately $4.8 million in our construction loan balance. Since September 30, 2010, we have sold one additional unit. Once this sale is closed, our inventory of condominium residences will be 82 units, 74 of which are on high-rise floors with superior views.

During the third quarter and subsequent to quarter end, TPG/CalSTRS completed several leases at our Centerpointe project in Fairfax, Virginia, increasing the occupancy from 62.7% at June 30, 2010 to the current level of 91.1%. As a result of the improved leasing performance of this project, on October 19, 2010, TPG/CalSTRS restructured the debt and equity capital in our Centerpointe partnership by acquiring the mezzanine A and B notes for approximately $40 million, at a discount to par of approximately $6.6 million or 14%. In addition, the mezzanine C loan was modified to provide us with the right to prepay the loan equal to a 50% discount on the principal plus a participation feature for the lender. The mezzanine C loan was also extended through February 9, 2012 with one additional year of extension available up to February 9, 2013. CalSTRS contributed 95% and TPG contributed 5% of the $40 million, which will be treated as preferred equity.

Subsequent to September 30, 2010, TPG/CalSTRS closed a new non-recourse first mortgage loan for CityWestPlace Buildings III and IV, two buildings located in Houston, Texas. The new mortgage loan in the amount of $95 million was provided by The Northwestern Mutual Life Insurance Company. The loan bears interest at a fixed rate of 5.03% and will mature in March 2020. It replaces a floating rate loan in the amount of $92.4 million, which was scheduled to mature in July 2011. With the completion of this financing, and considering the extension options available to us, there are no debt maturities in our portfolio until 2012.

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 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 are 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 Sheets

Included are pro-rata consolidated statements of operations, as well as pro-rata consolidated balance sheets, 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 been 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 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 measurements 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 and 11 for a discussion of EBDT and a reconciliation of EBDT to net income (loss) and pages 12 and 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)

(unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2010			2009			2010			2009
Revenues:
Rental	$	7,330		$	7,385		$	21,818		$	22,499
Tenant reimbursements		4,976			4,566			15,476			16,151
Parking and other		853			571			2,651			2,156
Investment advisory, management, leasing and development services		1,645			2,622			5,594			7,158
Investment advisory, management, leasing and development services- unconsolidated real estate entities		3,673			3,388			11,126			11,229
Reimbursement of property personnel costs		1,403			1,425			4,213			4,213
Condominium sales		5,237			22,927			14,559			22,927
Total revenues		25,117			42,884			75,437			86,333
Expenses:
Property operating and maintenance		5,948			5,936			18,659			18,439
Real estate taxes		1,745			1,943			5,221			5,427
Investment advisory, management, leasing and development services		2,953			2,799			7,987			8,638
Reimbursable property personnel costs		1,403			1,425			4,213			4,213
Cost of condominium sales		3,858			20,892			10,655			20,892
Interest		4,820			6,787			14,368			20,415
Depreciation and amortization		3,432			3,008			10,405			9,373
General and administrative		3,365			3,907			9,861			12,280
Impairment loss		—			8,600			—			8,600
Total expenses		27,524			55,297			81,369			108,277
Gain from extinguishment of debt		—			—			—			509
Interest income		17			34			55			287
Equity in net income (loss) of unconsolidated real estate entities		538			(3,103	)		(938	)		(595	)
Loss before income taxes and noncontrolling interests		(1,852	)		(15,482	)		(6,815	)		(21,743	)
Provision for income taxes		(62	)		(242	)		(417	)		(480	)
Net loss		(1,914	)		(15,724	)		(7,232	)		(22,223	)
Noncontrolling interests’ share of net loss:
Unitholders in the Operating Partnership		530			6,007			2,039			7,456
Partners in consolidated real estate entities		(51	)		(1,195	)		(128	)		934
		479			4,812			1,911			8,390
TPGI share of net loss	$	(1,435	)	$	(10,912	)	$	(5,321	)	$	(13,833	)
Loss per share-basic and diluted	$	(0.04	)	$	(0.43	)	$	(0.16	)	$	(0.56	)
Weighted average common shares-basic and diluted		34,910,415			25,212,319			33,218,238			24,978,388

3

Thomas Properties Group, Inc.

Supplemental Financial Information

CONSOLIDATED BALANCE SHEETS

(in thousands)

	September 30, 2010			December 31, 2009
	(unaudited)			(audited)
ASSETS
Investments in real estate:
Operating properties, net	$	269,217		$	276,603
Land improvements – development properties		94,906			95,558
		364,123			372,161
Condominium units held for sale		54,600			64,101
Improved land held for sale		4,571			4,508
Investments in unconsolidated real estate entities		17,124			14,458
Cash and cash equivalents, unrestricted		43,167			35,935
Restricted cash		9,006			12,071
Rents and other receivables, net		1,794			2,073
Receivables from unconsolidated real estate entities		2,068			2,010
Deferred rents		14,167			12,954
Deferred leasing and loan costs, net		13,343			15,375
Above market rents, net		671			838
Deferred tax asset, net of valuation allowance		14,064			17,644
Other assets, net		4,995			5,275
Total assets	$	543,693		$	559,403
	September 30, 2010			December 31, 2009
	(unaudited)			(audited)
LIABILITIES AND EQUITY
Liabilities:
Mortgage and other secured loans	$	301,957		$	318,236
Accounts payable and other liabilities		10,658			15,260
Unrecognized tax benefits		16,389			19,639
Prepaid rent and deferred revenue		3,125			3,249
Below market rents, net		509			674
Total liabilities		332,638			357,058
Equity:
Stockholders’ equity:
Common stock		354			308
Limited voting stock		138			138
Additional paid-in capital		200,833			185,344
Retained deficit and dividends including $35 and $74 of other comprehensive loss as of September 30, 2010 and December 31, 2009, respectively		(54,676	)		(49,394	)
Total stockholders’ equity		146,649			136,396
Noncontrolling interests:
Unitholders in the Operating Partnership		61,033			63,042
Partners in consolidated real estate entities		3,373			2,907
Total noncontrolling interests		64,406			65,949
Total equity		211,055			202,345
Total liabilities and equity	$	543,693		$	559,403

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 and nine months ended September 30, 2010 and 2009.

	Three months ended September 30,						Nine months ended September 30,
	2010			2009			2010			2009
Revenues:
Rental	$	50,998		$	52,102		$	152,154		$	157,133
Tenant reimbursements		21,746			20,296			65,041			65,266
Parking and other		7,052			6,918			20,851			20,998
Total revenues		79,796			79,316			238,046			243,397
Expenses:
Property operating and maintenance		31,392			31,069			91,704			90,426
Real estate and other taxes		10,635			9,777			31,537			32,067
Interest		28,222			24,959			79,937			77,925
Depreciation and amortization		27,956			29,251			85,769			90,749
Impairment loss		—			8,049			—			8,049
Total expenses		98,205			103,105			288,947			299,216
Loss from continuing operations		(18,409	)		(23,789	)		(50,901	)		(55,819	)
Gain on extinguishment of debt		7,077			—			7,077			67,017
Interest income		30			57			67			240
Income (loss) from discontinued operations		—			(86	)		—			(83	)
Net (loss) income	$	(11,302	)	$	(23,818	)	$	(43,757	)	$	11,355
TPGI share of equity in net income (loss) of unconsolidated real estate entities	$	538		$	(3,103	)	$	(938	)	$	(595	)

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 September 30, 2010 and December 31, 2009.

	September 30, 2010		December 31, 2009
ASSETS
Investments in real estate, net	$	2,175,052	$	2,224,709
Land held for sale		3,888		3,853
Cash and cash equivalents, unrestricted		36,554		24,918
Restricted cash		54,138		93,434
Rents and other receivables, net		3,365		3,546
Above market rents, net		1,593		2,117
Deferred rents		88,251		79,960
Deferred leasing and loan costs, net		133,366		144,287
Other assets		9,929		7,258
Total assets	$	2,506,136	$	2,584,082
LIABILITIES AND EQUITY
Mortgage, other secured, and unsecured loans	$	1,967,544	$	2,217,118
Accounts and interest payable and other liabilities		90,435		98,401
Below market rents, net		51,652		62,527
Total liabilities		2,109,631		2,378,046
Equity		396,505		206,036
Total liabilities and equity	$	2,506,136	$	2,584,082

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 September 30, 2010 and 2009, including reconciliation from the consolidated statements of operations to the pro-rata consolidated statements of operations.

	For the three months ended September 30, 2010									For the three months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Revenues:
Rental	$	7,330		$	8,205		$	15,535		$	7,385		$	10,023		$	17,408
Tenant reimbursements		4,976			2,728			7,704			4,566			3,360			7,926
Parking and other		853			842			1,695			571			1,224			1,795
Investment advisory, management, leasing and development services		1,645			—			1,645			2,622			—			2,622
Investment advisory, management, leasing and development services- unconsolidated real estate entities		3,673			102			3,775			3,388			74			3,462
Reimbursement of property personnel costs		1,403			—			1,403			1,425			—			1,425
Condominium sales		5,237			—			5,237			22,927			—			22,927
Total revenues		25,117			11,877			36,994			42,884			14,681			57,565
Expenses:
Property operating and maintenance		5,948			3,988			9,936			5,936			5,535			11,471
Real estate and other taxes		1,745			1,546			3,291			1,943			1,568			3,511
Investment advisory, management, leasing and development services		2,953			—			2,953			2,799			—			2,799
Reimbursable property personnel costs		1,403			—			1,403			1,425			—			1,425
Cost of condominium sales		3,858			—			3,858			20,892			—			20,892
Interest		4,820			3,739			8,559			6,787			3,964			10,751
Depreciation and amortization		3,432			3,751			7,183			3,008			4,773			7,781
General and administrative		3,365			—			3,365			3,907			—			3,907
Impairment loss		—			—			—			8,600			2,012			10,612
Total expenses		27,524			13,024			40,548			55,297			17,852			73,149
Gain on extinguishment of debt		—			1,622			1,622			—			—			—
Interest income		17			63			80			34			90			124
Equity in net income (loss) of unconsolidated real estate entities		538			(538	)		—			(3,103	)		3,103			—
(Loss) income before income taxes and noncontrolling interests		(1,852	)		—			(1,852	)		(15,482	)		22			(15,460	)
Provision for income taxes		(62	)		—			(62	)		(242	)		—			(242	)
Net (loss) income		(1,914	)		—			(1,914	)		(15,724	)		22			(15,702	)
Noncontrolling interests’ share of net (loss) income:
Unitholders in the Operating Partnership		530			—			530			6,007			—			6,007
Partners in consolidated real estate entities		(51	)		—			(51	)		(1,195	)		—			(1,195	)
		479			—			479			4,812			—			4,812
(Loss) income before loss from discontinued operations		(1,435	)		—			(1,435	)		(10,912	)		22			(10,890	)
Loss from discontinued operations		—			—			—			—			(22	)		(22	)
TPGI share of net loss	$	(1,435	)	$	—		$	(1,435	)	$	(10,912	)	$	—		$	(10,912	)

7

Thomas Properties Group, Inc.

Supplemental Financial Information

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

(in thousands)

(unaudited)

The following are the pro-rata consolidated statements of operations of TPGI for the nine months ended September 30, 2010 and 2009, including reconciliation from the consolidated statements of operations to the pro-rata consolidated statements of operations.

	For the nine months ended September 30, 2010								For the nine months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Revenues:
Rental	$	21,818		$	27,749	$	49,567		$	22,499		$	30,028		$	52,527
Tenant reimbursements		15,476			10,184		25,660			16,151			10,944			27,095
Parking and other		2,651			3,422		6,073			2,156			3,827			5,983
Investment advisory, management, leasing and development services		5,594			—		5,594			7,158			—			7,158
Investment advisory, management, leasing and development services- unconsolidated real estate entities		11,126			307		11,433			11,229			185			11,414
Reimbursement of property personnel costs		4,213			—		4,213			4,213			—			4,213
Condominium sales		14,559			—		14,559			22,927			—			22,927
Total revenues		75,437			41,662	��	117,099			86,333			44,984			131,317
Expenses:
Property operating and maintenance		18,659			14,519		33,178			18,439			15,948			34,387
Real estate and other taxes		5,221			4,966		10,187			5,427			5,246			10,673
Investment advisory, management, leasing and development services		7,987			—		7,987			8,638			—			8,638
Reimbursable property personnel costs		4,213			—		4,213			4,213			—			4,213
Cost of condominium sales		10,655			—		10,655			20,892			—			20,892
Interest		14,368			12,070		26,438			20,415			12,117			32,532
Depreciation and amortization		10,405			12,885		23,290			9,373			14,601			23,974
General and administrative		9,861			—		9,861			12,280			—			12,280
Impairment loss		—			—		—			8,600			2,012			10,612
Total expenses		81,369			44,440		125,809			108,277			49,924			158,201
Gain on extinguishment of debt		—			1,622		1,622			509			4,189			4,698
Interest income		55			218		273			287			177			464
Equity in net (loss) income of unconsolidated real estate entities		(938	)		938		—			(595	)		595			—
(Loss) income before income taxes and noncontrolling interests		(6,815	)		—		(6,815	)		(21,743	)		21			(21,722	)
Provision for income taxes		(417	)		—		(417	)		(480	)		—			(480	)
Net (loss) income		(7,232	)		—		(7,232	)		(22,223	)		21			(22,202	)
Noncontrolling interests’ share of net loss:
Unitholders in the Operating Partnership		2,039			—		2,039			7,456			—			7,456
Partners in consolidated real estate entities		(128	)		—		(128	)		934			—			934
		1,911			—		1,911			8,390			—			8,390
(Loss) income before loss from discontinued operations		(5,321	)		—		(5,321	)		(13,833	)		21			(13,812	)
Loss from discontinued operations		—			—		—			—			(21	)		(21	)
TPGI share of net loss	$	(5,321	)	$	—	$	(5,321	)	$	(13,833	)	$	—		$	(13,833	)

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 September 30, 2010 and December 31, 2009, including reconciliation from the consolidated balance sheets to the pro-rata consolidated balance sheets.

	September 30, 2010							December 31, 2009
	Consolidated		Plus Unconsolidated Investments at Pro-Rata			Pro-Rata		Consolidated		Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
ASSETS
Investments in real estate, net	$	364,123	$	249,914		$	614,037	$	372,161	$	363,206		$	735,367
Investments in unconsolidated real estate entities		17,124		(17,124	)		—		14,458		(14,458	)		—
Condominium units held for sale		54,600		—			54,600		64,101		—			64,101
Land held for sale		4,571		972			5,543		4,508		963			5,471
Cash and cash equivalents, unrestricted		43,167		5,736			48,903		35,935		2,966			38,901
Restricted cash		9,006		11,576			20,582		12,071		22,341			34,412
Rents and other receivables, net		3,862		648			4,510		4,083		790			4,873
Above market rents, net		671		373			1,044		838		474			1,312
Deferred rents		14,167		13,311			27,478		12,954		17,814			30,768
Deferred leasing and loan costs, net		13,343		19,105			32,448		15,375		24,025			39,400
Deferred tax asset, net of valuation allowance		14,064		—			14,064		17,644		—			17,644
Other assets		4,995		1,656			6,651		5,275		1,458			6,733
Total assets	$	543,693	$	286,167		$	829,860	$	559,403	$	419,579		$	978,982
LIABILITIES AND EQUITY
Mortgage, other secured, and unsecured loans	$	301,957	$	270,470		$	572,427	$	318,236	$	397,754		$	715,990
Accounts payable and other liabilities		10,658		9,784			20,442		15,260		13,946			29,206
Unrecognized tax benefits		16,389		—			16,389		19,639		—			19,639
Below market rents, net		509		4,205			4,714		674		5,817			6,491
Prepaid rent and deferred revenue		3,125		1,708			4,833		3,249		2,062			5,311
Total liabilities		332,638		286,167			618,805		357,058		419,579			776,637
Noncontrolling interests		64,406		—			64,406		65,949		—			65,949
Total stockholders’ equity		146,649		—			146,649		136,396		—			136,396
Total liabilities and equity	$	543,693	$	286,167		$	829,860	$	559,403	$	419,579		$	978,982

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) noncontrolling 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 Loss to EBDT:

	For the three months ended September 30, 2010								For the three months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata
Net loss	$	(1,435	)	$	—	$	(1,435	)	$	(10,912	)	$	—	$	(10,912	)
Income tax provision		62			—		62			242			—		242
Noncontrolling interests – unitholders in the Operating Partnership		(530	)		—		(530	)		(6,007	)		—		(6,007	)
Depreciation and amortization		3,432			3,751		7,183			3,008			4,773		7,781
Amortization of loan costs		211			101		312			202			191		393
EBDT	$	1,740		$	3,852	$	5,592		$	(13,467	)	$	4,964	$	(8,503	)
TPGI share of EBDT (1)	$	1,243		$	2,775	$	4,018		$	(8,660	)	$	3,110	$	(5,550	)
EBDT per share – basic						$	0.12							$	(0.22	)
EBDT per share – diluted						$	0.11							$	(0.22	)
Weighted average common shares outstanding – basic							34,910,415								25,212,319
Weighted average common shares outstanding – diluted							35,149,733								25,212,319

(1) Based on an interest in our operating partnership of 71.71% and 64.65% for the three months ended September 30, 2010 and 2009, respectively.

10

Thomas Properties Group, Inc.

Supplemental Financial Information

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

(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) noncontrolling 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 Loss to EBDT:

	For the nine months ended September 30, 2010								For the nine months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata		Pro-Rata
Net loss	$	(5,321	)	$	—	$	(5,321	)	$	(13,833	)	$	—	$	(13,833	)
Income tax provision		417			—		417			480			—		480
Noncontrolling interests – unitholders in the Operating Partnership		(2,039	)		—		(2,039	)		(7,456	)		—		(7,456	)
Depreciation and amortization		10,405			12,885		23,290			9,373			14,601		23,974
Amortization of loan costs		694			437		1,131			372			683		1,055
EBDT	$	4,156		$	13,322	$	17,478		$	(11,064	)	$	15,284	$	4,220
TPGI share of EBDT (1)	$	2,936		$	9,410	$	12,346		$	(7,100	)	$	9,808	$	2,708
EBDT per share – basic						$	0.37							$	0.11
EBDT per share – diluted						$	0.37							$	0.11
Weighted average common shares outstanding – basic							33,218,238								24,978,388
Weighted average common shares outstanding – diluted							33,462,470								24,978,388

(1) Based on an interest in our operating partnership of 70.64% and 64.17% for the nine months ended September 30, 2010 and 2009, 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) deferred income tax expense (benefit); ii) noncontrolling 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; vii) the adjustments to rental revenue to reflect the fair market value of rent; and viii) gain from extinguishment of debt. 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 Loss to ATCF:

	For the three months ended September 30, 2010									For the three months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Net loss	$	(1,435	)	$	—		$	(1,435	)	$	(10,912	)	$	—		$	(10,912	)
Income tax provision		62			—			62			242			—			242
Noncontrolling interests – unitholders in the Operating Partnership		(530	)		—			(530	)		(6,007	)		—			(6,007	)
Depreciation and amortization		3,432			3,751			7,183			3,008			4,773			7,781
Amortization of loan costs		211			101			312			202			191			393
Non-cash compensation expense		288			—			288			654			—			654
Straight-line rent adjustments		(275	)		(403	)		(678	)		(843	)		(489	)		(1,332	)
Adjustments to reflect the fair market value of rent		—			(264	)		(264	)		(5	)		(316	)		(321	)
Impairment loss		—			—			—			8,600			2,012			10,612
Gain on extinguishment of debt		—			(1,622	)		(1,622	)		—			—			—
ATCF before income taxes	$	1,753		$	1,563		$	3,316		$	(5,061	)	$	6,171		$	1,110
TPGI share of ATCF before income taxes (1)	$	1,257		$	1,121		$	2,378		$	(3,278	)	$	3,896		$	618
TPGI income tax expense-current		(60	)		—			(60	)		(72	)		—			(72	)
TPGI share of ATCF	$	1,197		$	1,121		$	2,318		$	(3,350	)	$	3,896		$	546
ATCF per share – basic							$	0.07								$	0.02
ATCF per share – diluted							$	0.07								$	0.02
Weighted average common shares outstanding – basic								34,910,415									25,212,319
Weighted average common shares outstanding – diluted								35,149,733									25,212,319

(1) Based on an interest in our operating partnership of 71.71% and 64.65% for the three months ended September 30, 2010 and 2009, respectively.

12

Thomas Properties Group, Inc.

Supplemental Financial Information

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

(in thousands, except share and per share data)

(unaudited)

We define ATCF as net income (loss) excluding the following items: i) deferred income tax expense (benefit); ii) noncontrolling 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; vii) the adjustments to rental revenue to reflect the fair market value of rent; and viii) gain from extinguishment of debt. 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 Loss to ATCF:

	For the nine months ended September 30, 2010									For the nine months ended September 30, 2009
	Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata			Consolidated			Plus Unconsolidated Investments at Pro-Rata			Pro-Rata
Net loss	$	(5,321	)	$	—		$	(5,321	)	$	(13,833	)	$	—		$	(13,833	)
Income tax provision		417			—			417			480			—			480
Noncontrolling interests – unitholders in the Operating Partnership		(2,039	)		—			(2,039	)		(7,456	)		—			(7,456	)
Depreciation and amortization		10,405			12,885			23,290			9,373			14,601			23,974
Amortization of loan costs		694			437			1,131			372			683			1,055
Non-cash compensation expense		467			—			467			2,257			—			2,257
Straight-line rent adjustments		(1,067	)		(897	)		(1,964	)		(762	)		(1,474	)		(2,236	)
Adjustments to reflect the fair market value of rent		1			(867	)		(866	)		23			(1,026	)		(1,003	)
Impairment loss		—			—			—			8,600			2,012			10,612
Gain on extinguishment of debt		—			(1,622	)		(1,622	)		(509	)		(4,189	)		(4,698	)
ATCF before income taxes	$	3,557		$	9,936		$	13,493		$	(1,455	)	$	10,607		$	9,152
TPGI share of ATCF before income taxes (1)	$	2,513		$	7,018		$	9,531		$	(934	)	$	6,806		$	5,872
TPGI income tax expense-current		(144	)		—			(144	)		(132	)		—			(132	)
TPGI share of ATCF	$	2,369		$	7,018		$	9,387		$	(1,066	)	$	6,806		$	5,740
ATCF per share – basic							$	0.28								$	0.23
ATCF per share – diluted							$	0.28								$	0.23
Weighted average common shares outstanding – basic								33,218,238									24,978,388
Weighted average common shares outstanding – diluted								33,462,470									24,978,388

(1) Based on an interest in our operating partnership of 70.64% and 64.17% for the nine months ended September 30, 2010 and 2009, respectively.

13

Thomas Properties Group, Inc.

Supplemental Financial Information

INVESTMENT ADVISORY, MANAGEMENT, LEASING AND DEVELOPMENT SERVICES

(in thousands)

(unaudited)

Three months ended September 30, 2010	Property Management Fees		Development Services Fees		Leasing Fees		Investment Advisory Fees		Total Fees
Source of revenues:
Wholly-owned properties	$	385	$	5	$	28	$	—	$	418
Unconsolidated real estate entities		2,355		135		443		1,374		4,307
Consolidated real estate entities		—		—		—		113		113
Managed properties		409		1,073		41		123		1,646
Total investment advisory, management, leasing and development services revenue	$	3,149	$	1,213	$	512	$	1,610		6,484
Investment advisory, management, leasing and development services expenses										(2,953	)
Net investment advisory, management, leasing and development services income									$	3,531
Reconciliation to GAAP presentation:
Total investment advisory, management, leasing and development services revenue									$	6,484
Elimination of intercompany fee revenues										(1,166	)
Investment advisory, management, leasing and development services revenue, as reported									$	5,318
Three months ended September 30, 2009
Source of revenues:
Wholly-owned properties	$	356	$	20	$	48	$	—	$	424
Unconsolidated real estate entities		2,299		176		360		1,412		4,247
Consolidated real estate entities		—		—		—		111		111
Managed properties		391		1,371		736		124		2,622
Total investment advisory, management, leasing and development services revenue	$	3,046	$	1,567	$	1,144	$	1,647		7,404
Investment advisory, management, leasing and development services expenses										(2,799	)
Net investment advisory, management, leasing and development services income									$	4,605
Reconciliation to GAAP presentation:
Total investment advisory, management, leasing and development services revenue									$	7,404
Elimination of intercompany fee revenues										(1,394	)
Investment advisory, management, leasing and development services revenue, as reported									$	6,010

14

Thomas Properties Group, Inc.

Supplemental Financial Information

INVESTMENT ADVISORY, MANAGEMENT, LEASING AND DEVELOPMENT SERVICES – CONTINUED

(in thousands)

(unaudited)

Nine months ended September 30, 2010	Property Management Fees			Development Services Fees		Leasing Fees		Investment Advisory Fees		Total Fees
Source of revenues:
Wholly-owned properties	$	1,162		$	277	$	189	$	—	$	1,628
Unconsolidated real estate entities		7,267			384		1,827		4,126		13,604
Consolidated real estate entities		—			—		—		338		338
Managed properties		1,255			3,663		329		347		5,594
Total investment advisory, management, leasing and development services revenue	$	9,684		$	4,324	$	2,345	$	4,811		21,164
Investment advisory, management, leasing and development services expenses											(7,987	)
Net investment advisory, management, leasing and development services income										$	13,177
Reconciliation to GAAP presentation:
Total investment advisory, management, leasing and development services revenue										$	21,164
Elimination of intercompany fee revenues											(4,444	)
Investment advisory, management, leasing and development services revenue, as reported										$	16,720
Nine months ended September 30, 2009
Source of revenues:
Wholly-owned properties	$	1,205		$	57	$	503	$	—	$	1,765
Unconsolidated real estate entities		7,051	��		743		1,670		4,547		14,011
Consolidated real estate entities		—			—		—		336		336
Managed properties		1,174			3,803		1,790		391		7,158
Total investment advisory, management, leasing and development services revenue	$	9,430		$	4,603	$	3,963	$	5,274		23,270
Investment advisory, management, leasing and development services expenses											(8,638	)
Net investment advisory, management, leasing and development services income										$	14,632
Reconciliation to GAAP presentation:
Total investment advisory, management, leasing and development services revenue										$	23,270
Elimination of intercompany fee revenues											(4,883	)
Investment advisory, management, leasing and development services revenue, as reported										$	18,387

15

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATA

Our Ownership Properties

			As of September 30, 2010								TPGI Share (1) (in thousands except square footage)
	Location		Rentable Square Feet (2)		Percent Leased (3)			TPGI Percentage Interest			Rentable Square Feet		Estimated Stabilized  Net Operating Income (4)		Estimated Stabilized  Net Operating Income-Cash Basis (5)		Expected Capital Expenditures to Complete Stabilization (6)			Loan Balance at September  30, 2010			Remaining Loan Capacity at September 30, 2010
Stabilized Properties
CityWestPlace		Houston, TX		1,473,020		99.0	%		25.0	%		368,255	$	5,716	$	5,300	$	—		$	53,350		$	—
San Felipe Plaza		Houston, TX		980,472		87.3			25.0			245,118		3,216		2,982		—			27,500			—
2500 City West		Houston, TX		578,284		91.4			25.0			144,571		2,017		1,842		—			16,250			—
Research Park Plaza I and II		Austin, TX		271,882		90.6			6.3			16,993		318		295		—			3,219			—
Stonebridge Plaza II		Austin, TX		192,864		96.0			6.3			12,054		182		178		—			2,344			—
One Commerce Square (7)		Philadelphia, PA		942,866		93.3			100.0			942,866		13,894		12,398		—			130,000			—
2121 Market Street (8)		Philadelphia, PA		22,136		100.0			50.0			11,068		1,143		1,143		—			9,127			—
				4,461,524		93.6						1,740,925		26,486		24,138		—			241,790			—
Properties Projected to Stabilize in 2011
Four Points Centre (Retail)		Austin, TX		6,600		—			100.0			6,600		80		80		168			—			—
Centerpointe I and II (9)		Fairfax, VA		421,651		88.8			25.0			105,413		2,518		2,283		4,198	(9)		30,945	(9)		—
				428,251		87.4						112,013		2,598		2,363		4,366			30,945			—
Properties Projected to Stabilize in 2012
City National Plaza (10)		Los Angeles, CA		2,496,084		82.8			7.9			198,127		4,697		4,486		2,922			27,781			—
Westech 360 I-IV		Austin, TX		175,529		53.7			6.3			10,971		155		154		326			7,426	(11)		—
Frost Bank Tower		Austin, TX		535,078		88.8			6.3			33,442		893		865		267			9,375			—
300 West 6th Street		Austin, TX		454,225		88.1			6.3			28,389		720		710		484			7,938			—
San Jacinto Center		Austin, TX		410,248		73.5			6.3			25,641		550		537		904			6,313			—
Four Points Centre (Office)		Austin, TX		192,062		18.3			100.0			192,062		2,863		2,838		8,146			24,591			9,400
Great Hills Plaza		Austin, TX		139,252		71.5			6.3			8,703		107		106		188			—	(11)		—
One Congress Plaza		Austin, TX		518,385		87.6			6.3			32,399		670		649		661			8,000			—
Fair Oaks Plaza		Fairfax, VA		179,688		85.8			25.0			44,922		971		888		1,170			11,075			—
Reflections I		Reston, VA		123,546		100.0			25.0			30,887		748		748		2,308			5,373			—
Reflections II		Reston, VA		64,253		100.0			25.0			16,063		233		233		1,141			2,238			—
Two Commerce Square (7)		Philadelphia, PA		953,276		84.1			100.0			953,276		17,489		17,045		19,357	(7)		107,737			—
				6,241,626		81.2						1,574,882		30,096		29,259		37,874			217,847			9,400
Properties Projected to Stabilize in 2013
Brookhollow Central I, II, and III		Houston, TX		806,004		66.3			25.0			201,501		2,631		2,460		8,750			9,250			4,500
Park Centre		Austin, TX		203,193		84.3			6.3			12,700		179		178		326			—	(11)		—
One American Center		Austin, TX		503,951		77.8			6.3			31,497		637		632		1,316			7,500			—
				1,513,148		72.6						245,698		3,447		3,270		10,392			16,750			4,500
Total / Average				12,644,549		84.8	%					3,673,518	$	62,627	$	59,030	$	52,632		$	507,332		$	13,900
Properties Controlled by Special Servicer
Oak Hill Plaza		King of Prussia, PA		164,360		96.1	%		25.0	%		41,090								$	11,113	(12)
Walnut Hill Plaza		King of Prussia, PA		150,573		51.3			25.0			37,643									—	(12)
Four Falls Corporate Center		Conshohocken, PA		253,985		82.5			25.0			63,496									13,017
				568,918								142,229								$	24,130	(13)

Footnotes on following page.

16

Thomas Properties Group, Inc.

Supplemental Financial Information

PORTFOLIO DATA – CONTINUED

Footnotes to Portfolio Data on previous page:

(1) TPGI share information set forth in the table on the previous page is calculated by multiplying the applicable data for each property by our percentage ownership of each property.

(2) For purposes of the table 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.

(3) Occupancy at stabilization is expected to be approximately 95%. Certain properties that have occupancy greater than 95% as of September 30, 2010, are not considered stabilized due to upcoming tenant vacancies not yet reflected. Certain properties that have occupancy less than 95% as of September 30, 2010, are considered stabilized as they were previously stabilized, and their return to stabilization is expected in the near term and/or we do not expect to incur significant capital expenditures to re-stabilize.

(4) For properties currently stabilized, the estimated stabilized net operating income (NOI) represents the sum of i) the annual straight-line rent under existing leases which were in place as of September 30, 2010, calculated as if the leases began on September 30, 2010, and ii) estimated annual parking and other income for 2010, less estimated annual operating expenses for 2010 and adjusted for non-recurring items. For properties expected to become stabilized in future years, estimated stabilized NOI represents the sum of i) the annual straight-line rent under existing leases which will be in place in the year the properties are stabilized, calculated as if the leases began at the point of stabilization, ii) the annual expected market rent for the remaining space (up to the stabilized occupancy percentage), and iii) estimated annual parking and other income, less estimated annual operating expenses and adjusted for non-recurring items.

(5) For properties currently stabilized, the estimated stabilized NOI – cash basis represents the sum of i) the annual cash rent under existing leases which were in place as of September 30, 2010, and ii) estimated annual parking and other income for 2010, less estimated annual operating expenses for 2010 and adjusted for non-recurring items. For properties expected to become stabilized in future years, estimated stabilized NOI – cash basis represents the sum of i) the annual cash rent under existing leases which will be in place in the year the properties are stabilized, ii) the annual expected market rent for the remaining space (up to 95% occupancy), and iii) estimated annual parking and other income, less estimated annual operating expenses and adjusted for non-recurring items.

(6) Expected capital expenditures to complete stabilization represent capital expenditures, including tenant improvements and leasing commissions, expected to be spent to complete the stabilization of the property.

(7) During the third quarter, TPG and Brandywine Realty Trust (“BDN”) entered into contribution agreements whereby BDN has agreed to invest in partnerships with TPG that own Commerce Square, which are currently wholly-owned by TPG. BDN will contribute a total of $25 million of preferred equity to the partnerships, and will become a 25% limited partner. BDN’s preferred equity will be contributed $5 million at closing with the balance to be contributed by December 31, 2012. The transaction is subject to customary closing conditions and expected to close in the fourth quarter of 2010. The preferred equity will be invested in a value-enhancement program designed to increase rental rates and occupancy at Commerce Square.

(8) The square footage and occupancy information presented for 2121 Market Street represents the information for two retail/office tenants only; the estimated NOI for 2010 includes 168 residential units comprising 132,823 square feet.

(9) On October 19, 2010, TPG/CalSTRS restructured the debt and equity capital in our Centerpointe partnership by acquiring the mezzanine A and B notes for approximately $40 million, at a discount to par of approximately $6.6 million or 14%. In addition, the mezzanine C loan was modified to provide us with the right to prepay the loan equal to a 50% discount on the principal plus a participation feature for the lender. The mezzanine C loan was also extended through February 9, 2012 with one additional year of extension available up to February 9, 2013. CalSTRS contributed 95% and TPG contributed 5% of the $40 million, which will be treated as preferred equity. As a result of these transactions, TPGI’s share of the outstanding loan balance decreased from $30.9 million at September 30, 2010 (as reflected on the previous page) to $19.3 million at present. Additionally, monies previously funded by the loans are held in a reserve account at the Centerpointe partnership, and will be used to fund the expected capital expenditures to complete stabilization, of which our share is $4.2 million.

(10) During the first quarter of 2010, CalSTRS, our partner in CNP, acquired all of the property’s mezzanine debt. On July 6, 2010, CalSTRS contributed this debt to the equity in TPG/CalSTRS, reducing the leverage on CNP by the full $219.1 million balance on the mezzanine loans. Solely with respect to the ownership interest of TPG/CalSTRS in CNP, CalSTRS’ percentage interest increased from 75.0% to 92.1% and TPG’s percentage interest decreased from 25.0% to 7.9%. We are in discussions with CalSTRS to obtain an option to participate in up to an additional 17.1% interest in CNP through TPG/CalSTRS.

(11) Our Austin Portfolio bank term loan is secured by three of our Austin, Texas properties on a first mortgage basis and seven of our remaining Austin properties provide secondary equity pledges. Our pro-rata share of the obligation is $7.4 million, which is reflected entirely on the Westech 360 I-IV line. See footnote 5 on page 22 for discussions of the senior priority financing, which is senior to this term loan.

(12) Oak Hill Plaza and Walnut Hill Plaza are co-borrowers under a loan agreement. The entire loan balance is included on the Oak Hill Plaza line.

(13) Due to uncertainty regarding these matured loans currently in default, the stabilized net operating income and expected capital expenditures to complete stabilization data has been omitted. See footnote 13 on page 22 for further discussion regarding these loans.

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Supplemental Financial Information

PORTFOLIO DATA – CONTINUED

Lease Expirations

The following table presents a summary of lease expirations for our portfolio for leases in place at September 30, 2010, plus available space. This table assumes that none of the tenants exercise renewal options or early termination rights, if any, at or prior to the scheduled expirations. Annualized net rent is based on the current net rent per leased square foot and excludes the effect of GAAP deferred rent adjustments and parking and other revenues.

TPGI Share of Consolidated and Unconsolidated Properties’ Lease Expirations
Year	Rentable Square Feet of Expiring Leases		Percentage  of Aggregate Square Feet			Current Annualized Net Rent  Per Leased Square Foot		Annualized Net Rent Per  Leased Square Foot at Expiration		2010 Market Net Rent (1)
Vacant		613,311		16.1	%	$	—	$	—	$	23.31
2010		129,425		3.4			14.66		14.72		21.49
2011		121,822		3.2			15.65		15.89		20.71
2012		265,466		7.0			15.93		16.51		22.56
2013		511,672		13.4			17.65		19.32		23.57
2014		326,057		8.5			16.72		17.35		20.61
2015		530,147		13.9			14.16		17.83		23.05
2016		142,131		3.7			13.63		17.61		21.57
2017		263,713		6.9			15.44		21.85		21.69
2018		153,574		4.0			12.75		21.84		19.77
2019		63,833		1.7			17.71		23.95		22.12
Thereafter		694,596		18.2			10.15		21.26		22.19
Total/Weighted Average		3,815,747		100.0	%	$	14.42	$	19.09	$	22.34

(1) The source of the 2010 Market Net Rent is Torto Wheaton data as of September 30, 2010. We have made no assumptions of increases in rental rates for years subsequent to 2010.

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PORTFOLIO DATA – CONTINUED

($ in thousands except for average amounts)

Our Development Properties

									Actual / Projected Entitlements						TPGI Share as of September 30, 2010
	Location	TPGI Percentage Interest			Number of Acres			Potential Property Types	Square Feet		Units		Status of Entitlements		Costs Incurred to Date		Average Cost Per Square Foot		Loan Balance
Pre-Development:
Campus El Segundo (1)	El Segundo, CA		100.0	%		23.9		Office/ Retail/R&D/ Hotel		1,675,000				Entitled	$	55,521	$	33.15	$	17,000
MetroStudio@Lankershim (2)	Los Angeles, CA		NA			14.4		Office/ Production Facility		1,500,000				Pending		16,465		10.98		—
Four Points Centre	Austin, TX		100.0			252.5		Office/ Retail/ R&D/ Hotel		1,680,000				Entitled		18,038		10.74		—
2100 JFK Boulevard	Philadelphia, PA		100.0			0.7		Office/ Retail/ R&D/ Hotel		366,000				Entitled		4,882		13.34		—
2500 City West land	Houston, TX		25.0			3.3	(3)	Office/ Retail/Residential/ Hotel		500,000				Entitled		900		7.20		—
CityWestPlace land	Houston, TX		25.0			25.0		Office/ Retail/ Residential		1,500,000				Entitled		5,336		14.23		—
										7,221,000						101,142	$	16.60		17,000
Fee Services:
Universal Village (4)	Los Angeles, CA		NA			124.0		Residential/ Retail		180,000		2,937		Pending		—				—
Wilshire Grand (5)	Los Angeles, CA		NA			2.7		Office/ Retail/ Residential/ Hotel		2,500,000		100		Pending		—				—
										9,901,000		3,037			$	101,142			$	17,000

Condominium Units Held for Sale:

						As of September 30, 2010
	Location	TPGI Percentage Interest			Description	Number of Units Sold To Date		Total Square Feet Sold To Date		Average Sales Price Per Square Foot Sold To Date		Number of Units Remaining To Be Sold (7)		Total Square Feet Remaining To Be Sold		Average List Price Per Square Foot To Be Sold			Book Carrying Value		Loan Balance
Murano	Philadelphia, PA		73.0	%(6)	43-story for-sale condominium project containing 302 units. Certificates of occupancy received for 100% of units.		219		246,622	$	516		83		105,218	$	795	(8)	$	54,600	$	22,629

(1) We have completed infrastructure improvements to our 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. The number of acres and the costs incurred to date exclude approximately 2.2 acres currently held for sale. TPGI’s carrying value of the 2.2 acres is approximately $4.6 million.

(2) 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 television production facility and office space, in accordance with the space needs of NBC Universal. 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.

(3) The number of acres excludes approximately 3.0 acres currently under contract for sale with a third party. This parcel is not encumbered by any debt and has a carrying value of approximately $3.9 million, of which TPGI’s share is approximately $1.0 million.

(4) We have been engaged by NBC Universal to entitle and master plan their Universal Studios Hollywood backlot on which we have a right of first offer (ROFO) to develop approximately 124 acres 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.

(5) We have been engaged by Korean Air to entitle and master plan a 2.7 acre site in downtown Los Angeles for 2.5 million square feet of development that consists of office, hotel, residential and retail uses.

(6) We have a $29.1 million preferred equity interest in Murano. Excluding the preferred equity interest, we hold a 73% interest in the property.

(7) Of the 83 units remaining to sell as of September 30, 2010, 75 units are on high-rise floors with superior views. Subsequent to September 30, 2010, we sold one additional unit.

(8) The list price per square foot ranges from $369 to $1,724.

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Supplemental Financial Information

PORTFOLIO DATA – 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		98.5	%
Pacific Financial Plaza	Newport Beach, CA		1982/1993		279,474		98.0
CalEPA Headquarters	Sacramento, CA		2000		950,939		100.0
1835 Market Street	Philadelphia, PA		1987		686,503		88.7
816 Congress (leasing only)	Austin, TX		1984		433,024		70.8
Total/Weighted Average					2,592,116		91.8	%

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Thomas Properties Group, Inc.

Supplemental Financial Information

DEBT SUMMARY

(in thousands)

	As of September 30, 2010											Loans Refinanced, Paid Off or Extended Subsequent to September  30, 2010
Mortgages and Other Loans	Interest Rate			Principal Amount		TPGI Share of Principal Amount		Maturity Date		Maturity Date at End of Extension Options		Interest Rate			Principal Amount		TPGI Share of Principal Amount		Maturity Date		Maturity Date at End of Extension Options
2011 Maturity Date at End of Extension Options
CityWestPlace - mortgage loan (Buildings III & IV) (1)		1.5	%	$	92,400	$	23,100		7/1/2011		7/1/2011		5.0	%	$	95,000	$	23,750		3/5/2020		3/5/2020
Subtotal - 2011 maturities					92,400		23,100
2012 Maturity Date at End of Extension Options
Centerpointe I and II (2)
Senior mortgage loan (3)		0.9			55,000		13,750		2/9/2011		2/9/2012
Mezzanine loans (3)		2.6			68,780		17,195		2/9/2011		2/9/2012		LIBOR+3.3		$	22,162	$	5,541		2/9/2012		2/9/2013
Research Park Plaza I and II (3)		1.6			51,500		3,219		6/9/2011		6/9/2012
Stonebridge Plaza II (3)		1.4			37,500		2,344		6/9/2011		6/9/2012
Murano construction loan (4)		9.5			22,629		22,629		7/31/2011		7/31/2012
Subtotal - 2012 maturities					235,409		59,137
2013 Maturity Date at End of Extension Options
Two Commerce Square – mortgage loan		6.3			107,737		107,737		5/9/2013		5/9/2013
Subtotal - 2013 maturities					107,737		107,737
2014 Maturity Date at End of Extension Options
Austin Portfolio bank term loan (5)		3.5			118,808		7,426		6/1/2013		6/1/2014
Campus El Segundo mortgage loan (6)		4.1			17,000		17,000		7/31/2011		7/31/2014
Four Points Centre construction loan (7)		3.8			24,591		24,591		7/31/2012		7/31/2014
Subtotal - 2014 maturities					160,399		49,017
2015 and Thereafter- Maturity Date at End of Extension Options
Reflections I		5.2			21,490		5,373		4/1/2015		4/1/2015
Reflections II		5.2			8,953		2,238		4/1/2015		4/1/2015
Brookhollow Central I, II, and III (8)		2.9			37,000		9,250		7/21/2013		7/21/2015
City National Plaza - note payable to former partner		5.8			19,758		1,568		7/1/2012		1/4/2016
One Commerce Square - mortgage loan		5.7			130,000		130,000		1/6/2016		1/6/2016
CityWestPlace - mortgage loan (Buildings I & II)		6.2			121,000		30,250		7/6/2016		7/6/2016
Fair Oaks Plaza		5.5			44,300		11,075		2/9/2017		2/9/2017
Frost Bank Tower		6.1			150,000		9,375		6/11/2017		6/11/2017
One Congress Plaza		6.1			128,000		8,000		6/11/2017		6/11/2017
300 West 6th Street		6.0			127,000		7,938		6/11/2017		6/11/2017
One American Center		6.0			120,000		7,500		6/11/2017		6/11/2017
San Jacinto Center		6.0			101,000		6,313		6/11/2017		6/11/2017
San Felipe Plaza (9)		4.8			110,000		27,500		12/1/2018		12/1/2018
2500 City West (10)		5.5			65,000		16,250		12/5/2019		12/5/2019
City National Plaza - senior mortgage loan (11)		5.9			350,000		27,781		7/1/2020		7/1/2020
2121 Market Street (12)		6.1			18,253		9,127		8/1/2033		8/1/2033
Subtotal - 2015 and thereafter maturities					1,551,754		309,538
Total				$	2,147,699	$	548,529
Weighted average interest rate at September 30, 2010		5.2	%
Loans on Properties Controlled by a Special Servicer
Four Falls Corporate Center (13)		5.3	%	$	52,067	$	13,017		3/6/2010		3/6/2010
Oak Hill Plaza/ Walnut Hill Plaza (13)		5.3			44,452		11,113		3/6/2010		3/6/2010
Total - properties controlled by a special servicer				$	96,519	$	24,130

Footnotes on following page.

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Thomas Properties Group, Inc.

Supplemental Financial Information

DEBT SUMMARY – CONTINUED

Footnotes to Debt Summary on previous page:

In connection with some of the loans listed in the Debt Summary, our operating partnership is subject to customary non-recourse carve out obligations, in the case of consolidated assets; and TPG/CalSTRS is subject to customary non-recourse carve out obligations in the case of certain joint venture assets.

(1) On October 12, 2010, TPG/CalSTRS closed a new non-recourse first mortgage loan for CityWestPlace Buildings III and IV, two buildings located in Houston, Texas. The new mortgage loan in the amount of $95 million was provided by The Northwestern Mutual Life Insurance Company. The loan bears interest at a fixed rate of 5.03% and will mature in March 2020. It replaces a floating rate loan in the amount of $92.4 million, which was scheduled to mature in July 2011.

(2) On October 19, 2010, TPG/CalSTRS restructured the debt and equity capital in our Centerpointe partnership by acquiring the mezzanine A and B notes for approximately $40 million, at a discount to par of approximately $6.6 million or 14%. In addition, the mezzanine C loan was modified to provide us with the right to prepay the loan equal to a 50% discount on the principal plus a participation feature for the lender. The mezzanine C loan was also extended through February 9, 2012 with one additional year of extension available up to February 9, 2013. CalSTRS contributed 95% and TPG contributed 5% of the $40 million, which will be treated as preferred equity. As a result of these transactions, TPGI’s post - September 30, 2010 share of the loan balances on the senior mortgage loan and the mezzanine C loan is $19.3 million.

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

(4) This loan is nonrecourse to the Company, but the Company and its development partners jointly and severally guarantee the payment of interest on the loan during the term of the loan. On July 26, 2010, the loan agreement was modified and the loan maturity was extended to July 31, 2011 with two six-month extension options at our election subject to certain conditions. During the extension period, the interest rate was increased to the greater of 9.5% per annum or LIBOR plus 3.3%.

(5) We and our partners in the Austin Portfolio have committed to fund $60.0 million of senior priority financing, which is senior to the Austin Portfolio bank loan. $33.0 million of the $60.0 million commitment has been funded as of September 30, 2010, of which our share is $2.1 million, and is accounted for as equity.

(6) The loan has three one-year extension options, subject to our compliance with certain covenants, with a final maturity date of July 31, 2014 if all extension options are exercised. The lender has the right to require payment of $2.5 million at the time of each extension. We have guaranteed this loan.

(7) The loan has two one-year extension options at our election subject to certain conditions. We have provided a completion guaranty and have guaranteed a portion of the principal and interest payable. We have also provided collateral of approximately 62.4 acres of fully entitled unimproved land, which is adjacent to our Four Points Centre office buildings. We have committed to reduce the principal amount of the loan with a payment of $1.3 million due in December 2010. As of September 30, 2010, $9.4 million remains unfunded and available to be drawn to fund any remaining project costs.

(8) On July 21, 2010, we entered into a new mortgage loan in the amount of $55.0 million. At closing, $37.0 million of the loan was funded, with an additional $3.0 million to be funded over three years and $15.0 million available for future funding of construction costs related to the redevelopment of Brookhollow Central I. The loan bears interest at LIBOR plus 2.6% and is for a three-year term plus two one-year extensions, subject to certain conditions, to mature upon final extension in July 2015.

(9) On July 21, 2010, we entered into a new mortgage loan in the amount of $110.0 million. The loan bears interest at a fixed rate of 4.8% and is for a term of 8.3 years, maturing in December 2018.

(10) On July 21, 2010, we entered into a new mortgage loan in the amount of $65.0 million. The loan bears interest at a fixed rate of 5.5% and is for a term of 9.3 years, maturing in December 2019.

(11) On July 6, 2010, a new non-recourse first mortgage loan in the amount of $350.0 million was made jointly by Metropolitan Life Insurance Company and the New York State Teachers’ Retirement System with a subsidiary of TPG/CalSTRS that owns CNP. The loan bears interest at a fixed rate of 5.9% and is for a term of ten years, to mature on July 1, 2020.

(12) 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.

(13) On March 6, 2010, an aggregate of $96.5 million in mortgage loans owed by subsidiaries of TPG/CalSTRS on unconsolidated properties at Four Falls Corporate Center, Oak Hill Plaza and Walnut Hill Plaza matured. The borrowers under these loans have not repaid these loans which are currently in default. These loans are non-recourse to the Company, and we do not anticipate making any equity contributions to support the repayment or refinancing of these loans. The borrowers are accruing interest on these loans at a default rate, which ranges from 10.3% to 10.5% per annum beginning on the maturity date of March 6, 2010. We are currently in discussions with the lenders to restructure the debt or facilitate a sale or other liquidation of these properties.

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Thomas Properties Group, Inc.

Supplemental Financial Information

CAPITAL STRUCTURE

(in thousands, except share data)

The following is the capital structure of TPGI as of September 30, 2010:

Debt			Aggregate Principal
Mortgage and other secured loans			$	301,957
Company share of unconsolidated debt				246,340
Company share of unconsolidated debt controlled by special servicer				24,130
Total combined debt			$	572,427
Equity	Shares/Units Outstanding		Market Value (1)
Common stock		35,394,894	$	126,360
Operating partnership units (2)		14,098,887		50,333
Total common equity		49,493,781	$	176,693
Total consolidated market capitalization			$	478,650
Total combined market capitalization (3)			$	749,120

(1) Based on the closing price of $3.57 per share of TPGI common stock on September 30, 2010.

(2) Includes operating partnership units and incentive units as of September 30, 2010.

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

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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
John R. Sischo Paul S. Rutter	Co-Chief Operating Officer and Director Co-Chief Operating Officer and General Counsel
Randall L. Scott	Executive Vice President and Director
Thomas S. Ricci	Executive Vice President
Diana M. Laing	Chief Financial Officer and Secretary
Todd L. Merkle	Chief Investment Officer
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

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