<Page>
EXHIBIT 99.1
[BOSTON PROPERTIES LOGO]
SUPPLEMENTAL OPERATING AND FINANCIAL DATA
FOR THE QUARTER ENDED JUNE 30, 2002
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
INDEX
================================================================================
<Table>
<Caption>
PAGE
----
COMPANY BACKGROUND 3
INVESTOR INFORMATION 4-5
FINANCIAL HIGHLIGHTS 6
CONSOLIDATED BALANCE SHEETS 7
CONSOLIDATED INCOME STATEMENTS 8
FUNDS FROM OPERATIONS 9
CAPITAL STRUCTURE 10
DEBT ANALYSIS 11-13
UNCONSOLIDATED JOINT VENTURES 14-15
PORTFOLIO OVERVIEW-SQUARE FOOTAGE 16
PROPERTY LISTING 17-20
TOP 20 TENANTS 21
PORTFOLIO OVERVIEW-FFO 22
OCCUPANCY ANALYSIS 23
OFFICE PROPERTIES-LEASE EXPIRATION ROLL OUT 24
OFFICE/TECHNICAL PROPERTIES-LEASE EXPIRATION ROLL OUT 25
INDUSTRIAL PROPERTIES-LEASE EXPIRATION ROLL OUT 26
RETAIL PROPERTIES - LEASE EXPIRATION ROLL OUT 27
GRAND TOTAL - OFFICE, OFFICE/TECHNICAL, INDUSTRIAL AND RETAIL
PROPERTIES 28
BOSTON AREA LEASE EXPIRATION ROLL OUT 29-30
WASHINGTON DC AREA LEASE EXPIRATION ROLL OUT 31-32
SAN FRANCISCO AREA LEASE EXPIRATION ROLL OUT 33-34
NEW YORK AREA LEASE EXPIRATION ROLL OUT 35-36
PRINCETON AREA LEASE EXPIRATION ROLL OUT 37-38
OTHER AREA LEASE EXPIRATION ROLL OUT 39-40
HOTEL PERFORMANCE 41
SAME PROPERTY PERFORMANCE 42
IN-SERVICE PROPERTY PERFORMANCE 43
CAPITAL EXPENDITURES 44
VALUE CREATION PIPELINE - ACQUISITIONS/DISPOSITIONS 45
VALUE CREATION PIPELINE - DEVELOPMENT 46
VALUE CREATION PIPELINE - LAND PARCELS 47
</Table>
2
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
COMPANY BACKGROUND
================================================================================
Boston Properties, Inc., a self-administered and self-managed real estate
investment trust, is one of the largest owners, managers and developers of
first-class office properties in the United States, with a significant presence
in four core markets: Boston, Washington, D.C., Midtown Manhattan and San
Francisco. Boston Properties was founded in 1970 in Boston, where it maintains
its headquarters. The Company acquires, develops and manages its properties
through full-service regional offices in Boston, New York City, Washington,
D.C., San Francisco and Princeton, New Jersey. Its property portfolio primarily
comprises first-class office space and also includes hotels and industrial
buildings.
Since the Company's initial offering in June 1997, the Company has acquired 50
properties adding approximately 18.4 million square feet to its portfolio,
representing an investment of approximately $4.7 billion, and the Company has
delivered 31 development properties adding approximately 6.4 million square feet
to its portfolio, representing an investment of approximately $1.4 billion. In
addition, the Company is constructing 9 office properties for a total
anticipated investment of approximately $1.1 billion. The Company owns or
controls land where it can develop an additional 8.9 million square feet.
3
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
INVESTOR INFORMATION
================================================================================
111 Huntington Avenue
Boston, MA 02199-7610
(617) 236-3300
(617) 236-3311 (fax)
<Table>
KEY EMPLOYEES:
Mortimer B. Zuckerman Chairman of the Board
Edward H. Linde President, CEO and Director
Robert E. Burke Executive Vice President, Operations
Douglas T. Linde Senior Vice President, CFO and Treasurer
</Table>
TIMING
QUARTERLY RESULTS FOR 2002 WILL BE ANNOUNCED ACCORDING TO THE FOLLOWING
ANTICIPATED SCHEDULE:
THIRD QUARTER LATE OCTOBER
FOURTH QUARTER LATE JANUARY
4
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
COMMON STOCK DATA (NYSE:BXP)
================================================================================
BOSTON PROPERTIES' COMMON STOCK IS TRADED PRIMARILY ON THE NEW YORK STOCK
EXCHANGE UNDER THE SYMBOL: BXP. BXP'S COMMON STOCK HAS HAD THE FOLLOWING
CHARACTERISTICS (BASED ON NEW YORK STOCK EXCHANGE CLOSING PRICES):
<Table>
<Caption>
2ND QUARTER 2002 1ST QUARTER 2002 4TH QUARTER 2001 3RD QUARTER 2001
---------------- ---------------- ---------------- ----------------
HIGH PRICE $ 41.5500 $ 39.8200 $ 38.4100 $ 41.2600
LOW PRICE $ 37.8800 $ 35.9800 $ 34.3300 $ 36.2000
CLOSING PRICE $ 39.9500 $ 39.4500 $ 38.0000 $ 38.1300
DIVIDENDS PER SHARE - ANNUALIZED (1) $ 2.44 $ 2.32 $ 2.32 $ 2.32
CLOSING DIVIDEND YIELD - ANNUALIZED 6.11% 5.88% 6.11% 6.08%
CLOSING SHARES, COMMON UNITS AND PREFERRED
UNITS (IF CONVERTED) OUTSTANDING (THOUSANDS) 125,017 124,761 124,630 124,644
CLOSING MARKET VALUE OF SHARES AND UNITS
OUTSTANDING (THOUSANDS) $ 4,994,429 $ 4,921,821 $ 4,735,940 $ 4,752,676
</Table>
(1) REFLECTS DIVIDEND INCREASE FROM $0.50 PER SHARE TO $0.61 PER SHARE EFFECTIVE
Q2 2002.
5
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
FINANCIAL HIGHLIGHTS
================================================================================
(UNAUDITED AND IN THOUSANDS)
<Table>
<Caption>
THREE MONTHS ENDED
----------------------------------------------------------------------
JUNE 30, 2002 MARCH 31, 2002 DECEMBER 31, 2001 SEPTEMBER 30, 2001
------------- -------------- ----------------- ------------------
INCOME ITEMS:
- -------------
Revenue $ 290,015(1) $ 274,320 $ 264,964 $ 275,959(2)
Net straight line rent $ 12,216 $ 14,784 $ 9,215 $ 6,400
Lease termination fees $ 1,227 $ 511 $ 397 $ 4,857
Capitalized interest $ 5,261 $ 7,847 $ 12,739 $ 14,740
Net income available to common shareholders
before net derivative losses (SFAS No.133) $ 58,714 $ 55,613 $ 56,980 $ 65,083
Funds from operations (FFO) before net derivative
losses (SFAS No.133) and early surrender lease
income - basic $ 120,263 $ 108,820 $ 110,942 $ 106,108
Company's share $ 98,165 $ 88,929 $ 90,704 $ 86,627
FFO before net derivative losses (SFAS 133) and after
early surrender lease income per share - basic $ 1.07 $ 0.98 $ 1.00 $ 0.96
FFO before net derivative losses (SFAS 133) and after
early surrender lease income per share - diluted $ 1.02 $ 0.93 $ 0.95 $ 0.91
Dividends per share $ 0.61 $ 0.58 $ 0.58 $ 0.58
Funds available for distribution (FAD) (3) $ 87,470 $ 81,799 $ 91,828 $ 73,157
RATIOS:
- -------
Interest Coverage Ratio (excluding capitalized interest)
- cash basis (4) 2.71 2.57 2.81 3.04
Interest Coverage Ratio (including capitalized interest)
- cash basis (4) 2.51 2.29 2.31 2.43
FFO Payout Ratio 59.80% 62.37% 61.05% 63.74%
FAD Payout Ratio 78.15% 78.92% 70.10% 88.01%
<Caption>
JUNE 30, 2002 MARCH 31, 2002 DECEMBER 31, 2001 SEPTEMBER 30, 2001
------------- -------------- ----------------- ------------------
CAPITALIZATION:
- ---------------
Total Debt - Mortgage Notes and Bonds Payable $ 4,415,724 $ 4,361,233 $ 4,314,942 $ 4,245,433
Price @ Quarter End $ 39.9500 $ 39.4500 $ 38.0000 $ 38.1300
Equity Value @ Quarter End $ 4,994,429 $ 4,921,821 $ 4,735,940 $ 4,752,676
Total Market Capitalization $ 9,410,153 $ 9,283,054 $ 9,050,882 $ 8,998,109
Debt/Total Market Capitalization 46.93% 46.98% 47.67% 47.18%
</Table>
(1) Includes a refund of $1,300 related to prior years' tax matter.
(2) Includes non-cash early surrender lease income of $12,445.
(3) FAD is defined as FFO after adjustments for second generation lease
commissions and tenant improvements, recurring capital expenditures,
straight-line rents, preferred dividends and distributions and other
non-cash charges.
(4) Amortization of financing costs were $1,346, $1,309, $970 and $960 for the
quarters ended June 30, 2002, March 31, 2002, December 31, 2001 and
September 30, 2001, respectively. These amounts were not included in the
calculation of interest coverage ratio.
6
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
CONSOLIDATED BALANCE SHEETS
================================================================================
(IN THOUSANDS)
<Table>
<Caption>
JUNE 30, 2002 MARCH 31, 2002 DECEMBER 31, 2001 SEPTEMBER 30, 2001
------------- -------------- ----------------- ------------------
ASSETS (unaudited) (unaudited) (unaudited)
Real estate $ 6,972,779 $ 6,573,532 $ 6,167,399 $ 6,147,543
Development in progress 435,125 733,710 1,107,835 984,962
Land held for future development 199,681 206,098 182,672 165,475
Less accumulated depreciation (795,852) (755,156) (719,854) (683,029)
------------- -------------- ----------------- ------------------
Total real estate 6,811,733 6,758,184 6,738,052 6,614,951
Cash and cash equivalents 59,616 71,007 98,067 161,011
Escrows 44,800 45,216 23,000 20,901
Investments in securities - - 4,297 4,297
Tenant and other receivables, net 31,298 36,846 43,546 41,087
Accrued rental income, net 146,100 133,885 119,494 110,441
Deferred charges, net 148,239 127,948 107,573 104,370
Prepaid expenses and other assets 16,081 30,235 20,996 46,303
Investments in unconsolidated joint ventures 100,804 98,071 98,485 90,160
------------- -------------- ----------------- ------------------
TOTAL ASSETS $ 7,358,671 $ 7,301,392 $ 7,253,510 $ 7,193,521
============= ============== ================= ==================
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Mortgage notes and bonds payable $ 4,415,724 $ 4,361,233 $ 4,314,942 $ 4,245,433
Unsecured Line of Credit - - - -
Accounts payable and accrued expenses 52,655 56,125 81,108 71,716
Dividends and distributions payable 83,707 79,985 79,561 79,005
Interest rate contracts 11,568 8,635 11,147 32,136
Accrued interest payable 17,635 15,032 9,080 15,679
Other liabilities 65,142 75,465 58,859 52,969
------------- -------------- ----------------- ------------------
Total liabilities 4,646,431 4,596,475 4,554,697 4,496,938
------------- -------------- ----------------- ------------------
Commitments and contingencies - - - -
------------- -------------- ----------------- ------------------
Minority interests 825,730 829,687 844,740 847,232
------------- -------------- ----------------- ------------------
Series A Convertible Redeemable Preferred Stock,
liquidation preference $50.00 per share, 2,000,000
shares issued and outstanding 100,000 100,000 100,000 100,000
------------- -------------- ----------------- ------------------
Stockholders' Equity:
Excess stock, $.01 par value, 150,000,000 shares
authorized, none issued or outstanding
Common stock, $.01 par value, 250,000,000 shares
authorized, 91,545,294, 91,137,874, 90,780,591
and 90,720,477 issued and outstanding, respectively 915 911 908 907
Additional paid-in capital 1,821,762 1,809,836 1,789,521 1,784,850
Dividends in excess of earnings (16,152) (15,084) (17,669) (20,296)
Treasury common stock, at cost (2,722) (2,722) (2,722) -
Unearned compensation (3,598) (3,843) (2,097) (2,242)
Accumulated other comprehensive loss (13,695) (13,868) (13,868) (13,868)
------------- -------------- ----------------- ------------------
Total stockholders' equity 1,786,510 1,775,230 1,754,073 1,749,351
------------- -------------- ----------------- ------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 7,358,671 $ 7,301,392 $ 7,253,510 $ 7,193,521
============= ============== ================= ==================
</Table>
7
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
CONSOLIDATED INCOME STATEMENTS
================================================================================
(IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS)
(UNAUDITED)
<Table>
<Caption>
THREE MONTHS ENDED
---------------------------------------------
30-JUN-02 31-MAR-02 31-DEC-01 30-SEP-01
--------- --------- --------- ---------
Revenue:
Rental
Base Rent (1) $ 242,846 $ 229,106 $ 220,701 $ 231,296
Recoveries from tenants 30,112 27,712 26,799 27,277
Parking and other 12,458 12,096 11,757 12,965
--------- --------- --------- ---------
Total rental revenue 285,416 268,914 259,257 271,538
Development and management services 2,289 4,134 3,878 2,805
Interest and other (2) 2,310 1,272 1,829 1,616
--------- --------- --------- ---------
Total revenue 290,015 274,320 264,964 275,959
--------- --------- --------- ---------
Expenses:
Operating 86,866 85,089 83,403 81,259
General and administrative (3) 13,564 11,069 8,663 9,819
Interest (4) 67,327 63,787 59,730 59,936
Depreciation and amortization 43,796 42,944 40,020 38,315
Loss on investments in other companies - 4,297 - -
--------- --------- --------- ---------
Total expenses 211,553 207,186 191,816 189,329
--------- --------- --------- ---------
Income before net derivative losses (SFAS No.133),
minority interests and income from unconsolidated
joint ventures 78,462 67,134 73,148 86,630
Net derivative losses (SFAS No.133) (4,826) (303) (2,080) (16,620)
Minority interest in property partnerships 712 471 456 374
Income from unconsolidated joint ventures 1,659 1,682 1,345 997
--------- --------- --------- ---------
Income before minority interest in Operating Partnership 76,007 68,984 72,869 71,381
Minority interest in Operating Partnership (5) (19,589) (18,386) (19,107) (18,851)
--------- --------- --------- ---------
Income before gain on sale, net of minority interest 56,418 50,598 53,762 52,530
Gain on sale of real estate, net - - 2,584 -
--------- --------- --------- ---------
Income before discontinued operations 56,418 50,598 56,346 52,530
Income from discontinued operations, net of
minority interest - 570 582 638
Gain on sale of real estate from discontinued operations,
net of minority interest - 5,840 - -
--------- --------- --------- ---------
Income before preferred dividend 56,418 57,008 56,928 53,168
Preferred dividend (1,643) (1,643) (1,648) (1,653)
--------- --------- --------- ---------
Net income available to common shareholders $ 54,775 $ 55,365 $ 55,280 $ 51,515
========= ========= ========= =========
INCOME PER SHARE OF COMMON STOCK (EPS)
==================================================================
Net income available to common shareholders per share - basic $ 0.60 $ 0.61 $ 0.61 $ 0.57
========= ========= ========= =========
Net income available to common shareholders per share - diluted $ 0.59 $ 0.60 $ 0.60 $ 0.56
========= ========= ========= =========
</Table>
(1) Base Rent is reported on a straight-line basis over the terms of the
respective leases. The impact of the straight-line rent adjustment increased
revenue by $12,216, $14,784, $9,215 and $6,400 for the three months ended
June 30, 2002, March 31, 2002, December 31, 2001 and September 30, 2001,
respectively.
(2) Includes a refund of $1,300 related to prior years' tax matter.
(3) Includes a $2.8 million write-off of leasing costs related to the
termination of the lease with Arthur Andersen.
(4) Interest expense is reported net of capitalized interest of $5,261, $7,847,
$12,739 and $14,740 for the three months ended June 30, 2002, March 31,
2002, December 31, 2001 and September 30, 2001, respectively.
(5) Equals minority interest percent of 18.37%, 18.28%, 18.24% and 18.36%,
respectively of income before minority interest in Operating Partnership
after deduction for preferred dividends and distributions for the three
months ended June 30, 2002, March 31, 2002, December 31, 2001 and September
30, 2001, respectively.
8
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
FUNDS FROM OPERATIONS
================================================================================
(IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS)
(UNAUDITED)
<Table>
<Caption>
THREE MONTHS ENDED
---------------------------------------------
30-JUN-02 31-MAR-02 31-DEC-01 30-SEP-01
--------- --------- --------- ---------
Income from operations before net derivative losses (SFAS No.133),
minority interests and income from unconsolidated joint ventures $ 78,462 $ 67,134 $ 73,148 $ 86,630
Add:
Real estate depreciation and amortization (1) 45,032 44,499 41,034 39,360
Income from discontinued operations - 697 712 781
Income from unconsolidated joint ventures 1,659 1,682 1,345 997
Less:
Net derivative losses (SFAS No.133) 4,826 303 2,080 16,620
Minority property partnership's share of funds from operations 593 719 776 832
Preferred dividends and distributions 8,223 8,400 8,448 8,383
--------- --------- --------- ---------
Funds from operations (FFO) 111,511 104,590 104,935 101,933
Add (subtract):
Net derivative losses (SFAS No.133) 4,826 303 2,080 16,620
Early surrender lease payments received - contractual basis 3,926 3,927 3,927 (12,445)
--------- --------- --------- ---------
FFO before net derivative losses (SFAS No.133) and after early
surrender lease payments received $ 120,263 $ 108,820 $ 110,942 $ 106,108
========= ========= ========= =========
FFO available to common shareholders before net derivative losses
(SFAS No. 133) and after early surrender lease payments received (3) $ 98,165 $ 88,929 $ 90,704 $ 86,627
========= ========= ========= =========
FFO per share before net derivative losses (SFAS No.133) and after
cash basis early surrender lease income - basic $ 1.07 $ 0.98 $ 1.00 $ 0.96
========= ========= ========= =========
Weighted average shares outstanding - basic 91,357 90,932 90,737 90,519
========= ========= ========= =========
FFO per share before net derivative losses (SFAS No.133) and after
early surrender lease payments received - diluted $ 1.02 $ 0.93 $ 0.95 $ 0.91
========= ========= ========= =========
FFO per share after net derivative losses (SFAS No.133) and before
early surrender lease payments received - diluted $ 0.95 $ 0.90 $ 0.90 $ 0.87
========= ========= ========= =========
Weighted average shares outstanding - diluted 105,982 105,768 105,577 105,812
========= ========= ========= =========
</Table>
RECONCILIATION TO DILUTED FUNDS FROM OPERATIONS
================================================================================
<Table>
<Caption>
June 30, 2002 March 31, 2002
---------------------------------------------------------
Income Shares Income Shares
(Numerator) (Denominator) (Numerator) (Denominator)
----------- ------------- ----------- -------------
Basic FFO before net derivative losses (SFAS No.133) and
after early surrender lease income $ 120,263 111,923 $ 108,820 111,272
Effect of Dilutive Securities
Convertible Preferred Units 6,580 10,342 6,757 10,823
Convertible Preferred Stock 1,643 2,625 1,643 2,625
Stock Options and other - 1,659 - 1,387
----------- ------------- ----------- -------------
Diluted FFO before net derivative losses (SFAS No.133) and
after early surrender lease payments received $ 128,486 126,549 $ 117,220 126,107
=========== ============= =========== =============
Company's share of diluted FFO before net derivative losses (SFAS 133)
and after early surrender lease payments received (2) $ 107,605 105,982 $ 98,314 105,768
=========== ============= =========== =============
FFO per share before net derivative losses (SFAS No.133) and
after early surrender lease payments received - basic $ 1.07 $ 0.98
=========== ===========
FFO per share before net derivative losses (SFAS No.133) and
after early surrender lease payments received - diluted $ 1.02 $ 0.93
=========== ===========
<Caption>
December 31, 2001 September 30, 2001
---------------------------------------------------------
Income Shares Income Shares
(Numerator) (Denominator) (Numerator) (Denominator)
----------- ------------- ----------- -------------
Basic FFO before net derivative losses (SFAS No.133) and
after early surrender lease income $ 110,942 110,982 $ 106,108 110,876
Effect of Dilutive Securities
Convertible Preferred Units 6,800 11,011 6,730 11,011
Convertible Preferred Stock 1,648 2,625 1,653 2,625
Stock Options and other - 1,205 - 1,657
----------- ------------- ----------- -------------
Diluted FFO before net derivative losses (SFAS No.133) and
after early surrender lease payments received $ 119,390 125,823 $ 114,491 126,169
=========== ============= =========== =============
Company's share of diluted FFO before net derivative losses (SFAS 133)
and after early surrender lease payments received (2) $ 100,179 105,577 $ 96,017 105,812
=========== ============= =========== =============
FFO per share before net derivative losses (SFAS No.133) and
after early surrender lease payments received - basic $ 1.00 $ 0.96
=========== ===========
FFO per share before net derivative losses (SFAS No.133) and
after early surrender lease payments received - diluted $ 0.95 $ 0.91
=========== ===========
</Table>
(1) Real estate depreciation includes the Company's share of joint venture real
estate depreciation of $1,947, $2,187, $1,380 and $1,394 less corporate
related depreciation of $711, $632, $576 and $552 for the three months ended
June 30, 2002, March 31, 2002, December 31, 2001 and September 30, 2001,
respectively.
(2) Based on weighted average shares for the quarter. Company's share for the
quarter ended June 30, 2002, March 31, 2002, December 31, 2001 and September
30, 2001 was 81.63%, 81.72%, 81.79% and 81.64%, respectively.
(3) Based on weighted average diluted shares for the quarter. Company's share
for the quarter ended June 30, 2002, March 31, 2002, December 31, 2001 and
September 30, 2001 was 83.75%, 83.87%, 83.91% and 83.87%, respectively.
9
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
CAPITAL STRUCTURE
================================================================================
DEBT
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
AGGREGATE PRINCIPAL
JUNE 30, 2002
-------------------
Mortgage Notes and Bonds Payable $ 4,415,724
Unsecured Line of Credit -
-------------------
Total Debt (1) $ 4,415,724
===================
</Table>
(1) Does not include joint venture debt outstanding. See page 15 for detailed
joint venture information.
EQUITY
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
COMMON
SHARES & UNITS STOCK
OUTSTANDING EQUIVALENTS EQUIVALENT (1)
-------------- ----------- --------------
Common Stock 91,545 91,545 $ 3,657,223
Preferred Stock 2,000 2,625 104,869
Operating Partnership Units 20,513 20,513 819,494
Preferred Operating Partnership Units 8,666 10,334 412,843
----------- --------------
Total Equity 125,017 $ 4,994,429
=========== ==============
Total Market Capitalization $ 9,410,153
==============
</Table>
(1) Value based on June 30, 2002 closing price of $39.95
10
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
DEBT ANALYSIS
================================================================================
DEBT MATURITIES AND PRINCIPAL PAYMENTS
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
2002 2003 2004 2005 2006 THEREAFTER TOTAL
--------- --------- --------- --------- --------- ------------ -----------
Amount $ 273,811 $ 886,371 $ 339,001 $ 277,880 $ 284,516 $ 2,354,145 $ 4,415,724
Average Rate 3.91% 5.59% 4.96% 7.05% 7.79% 7.11% 6.48%
</Table>
UNSECURED LINE OF CREDIT - DUE MARCH 31, 2003
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
OUTSTANDING LETTERS OF REMAINING
FACILITY @6/30/02 CREDIT CAPACITY
---------- ----------- ---------- ----------
$ 605,000 $ - $ 3,470 $ 601,530
</Table>
UNSECURED AND SECURED DEBT ANALYSIS
- --------------------------------------------------------------------------------
<Table>
<Caption>
WEIGHTED WEIGHTED AVERAGE
% OF DEBT AVERAGE RATE MATURITY
--------- ------------ ----------------
Unsecured Debt 0.00% 0.00% 0.8 years
Secured Debt 100.00% 6.48% 5.0 years
--------- ------------ ----------------
Total Debt 100.00% 6.48% 5.0 years
========= ============ ================
</Table>
FLOATING AND FIXED RATE DEBT ANALYSIS
- --------------------------------------------------------------------------------
<Table>
<Caption>
WEIGHTED WEIGHTED AVERAGE
% OF DEBT AVERAGE RATE MATURITY
--------- ------------ ----------------
Floating Rate Debt 22.40% 3.70% 1.0 years
Fixed Rate Debt 77.60% 7.28% 6.2 years
--------- ------------ ----------------
Total Debt 100.00% 6.48% 5.0 years
========= ============ ================
</Table>
11
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
DEBT MATURITIES AND PRINCIPAL PAYMENTS
================================================================================
(IN THOUSANDS)
<Table>
<Caption>
PROPERTY 2002 (1) 2003 2004 2005 2006 THEREAFTER TOTAL
- ----------------------------------------------- ---------- ---------- ---------- ----------- --------- ---------- ----------
Citigroup Center $ 2,731 $ 5,763 $ 6,191 $ 6,651 $ 7,145 $ 490,928 $ 519,409
5 Times Square - 351,009 - - - - 351,009
Embarcadero Center One, Two and Federal Reserve 2,139 4,498 4,809 5,141 5,496 284,789 306,872
Prudential Center 1,659 4,299 4,591 4,919 5,256 265,325 286,049
280 Park Avenue 1,322 2,800 3,022 3,261 3,519 252,592 266,516
599 Lexington Avenue - - - 225,000 - - 225,000
111 Huntington Avenue 196,245 - - - - - 196,245
Times Square Tower - - 170,751 - - - 170,751
Embarcadero Center Four 1,560 3,315 3,544 3,797 4,061 134,058 150,335
875 Third Avenue 988 146,766 - - - - 147,754
Embarcadero Center Three 1,050 2,206 2,351 2,506 2,671 132,726 143,510
Two Independence Square 642 113,808 - - - - 114,450
Riverfront Plaza 1,081 2,720 2,905 3,104 3,314 98,867 111,991
Democracy Center 866 1,828 1,961 2,103 2,257 96,150 105,165
Embarcadero Center West Tower 689 1,449 1,546 1,649 90,416 - 95,749
100 East Pratt Street 871 1,836 1,964 2,100 2,246 80,511 89,528
601 and 651 Gateway Boulevard 388 826 899 977 1,062 84,721 88,873
One Independence Square - 75,000 - - - - 75,000
Reservoir Place 1,356 2,859 3,061 3,279 60,067 - 70,622
One & Two Reston Overlook 386 818 65,908 - - - 67,112
2300 N Street - 66,000 - - - - 66,000
202, 206 & 214 Carnegie Center 288 610 663 719 780 59,061 62,121
New Dominion Technology Park, Building One 40 102 91 654 1,282 55,420 57,589
Capital Gallery 608 1,293 1,404 1,524 50,651 - 55,480
Waltham Weston Corporate Center - - 53,601 - - - 53,601
504, 506 & 508 Carnegie Center 379 979 1,052 1,136 1,221 42,229 46,996
</Table>
(1) Represents the period from July 1, 2002 through December 31, 2002.
12
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
DEBT MATURITIES AND PRINCIPAL PAYMENTS
================================================================================
(IN THOUSANDS)
<Table>
<Caption>
PROPERTY 2002 (1) 2003 2004 2005 2006 THEREAFTER TOTAL
- ----------------------------------------------- ---------- ---------- ---------- ----------- --------- ---------- ----------
10 & 20 Burlington Mall Road 353 641 688 741 795 36,444 39,662
10 Cambridge Center 219 559 607 659 715 32,213 34,972
1301 New York Avenue 574 1,217 1,315 1,417 1,531 25,061 31,115
Sumner Square 228 481 518 557 599 27,581 29,964
2600 Tower Oaks Boulevard 29,457 - - - - - 29,457
Quorum Office Park - 29,041 - - - - 29,041
Eight Cambridge Center 243 516 557 601 649 25,188 27,754
510 Carnegie Center 211 547 588 635 683 24,255 26,919
Lockheed Martin Building 284 601 641 685 732 22,581 25,524
Orbital Sciences - Phase I 25,473 - - - - - 25,473
University Place 259 655 702 752 806 21,203 24,377
Reston Corporate Center 271 574 612 654 698 21,268 24,077
Orbital Sciences - Phase II - 23,611 - - - - 23,611
191 Spring Street 161 407 443 482 20,773 - 22,266
Bedford Business Park 249 634 690 751 818 17,749 20,891
NIMA Building 234 497 530 566 604 18,430 20,861
40 Shattuck Road - 15,818 - - - - 15,818
Shaws Supermarket - 12,080 - - - - 12,080
101 Carnegie Center 137 348 375 406 6,622 - 7,888
Montvale Center 75 160 173 189 6,762 - 7,359
302 Carnegie Center - 6,969 - - - - 6,969
Hilltop Business Center 75 187 200 214 230 4,581 5,487
201 Carnegie Center 20 44 48 51 55 214 432
---------- ---------- ---------- ----------- --------- ---------- ----------
$ 273,811 $ 886,371 $ 339,001 $ 277,880 $ 284,516 $2,354,145 $4,415,724
========== ========== ========== =========== ========= ========== ==========
</Table>
(1) Represents the period from July 1, 2002 through December 31, 2002.
13
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
UNCONSOLIDATED JOINT VENTURES
================================================================================
MISCELLANEOUS BALANCE SHEET INFORMATION
- --------------------------------------------------------------------------------
(UNAUDITED AND IN THOUSANDS)
AS OF JUNE 30, 2002
<Table>
<Caption>
ONE MARKET 140 265
FREEDOM SQUARE METROPOLITAN KENDRICK FRANKLIN
SQUARE NORTH SQUARE STREET STREET
-------- ------------- ------------ --------- -----------
Total Equity (1) $ 113 $ 13,957 $ 31,906 $ 5,718 $ 20,974
======== ============= ============ ========= ===========
Mortgage/Construction loans payable (1) $ 19,037 $ 49,012 $ 70,104 $ 14,130 $ 18,900
======== ============= ============ ========= ===========
BXP's nominal ownership percentage 25.00% 50.00% 51.00% 25.00% 35.00%
======== ============= ============ ========= ===========
<Caption>
901 TWO
DISCOVERY NEW YORK FREEDOM
SQUARE (2) AVENUE (2) SQUARE (2) COMBINED
----------- ----------- --------- --------
Total Equity (1) $ 7,443 $ 13,628 $ 7,065 $100,804
=========== =========== ========= ========
Mortgage/Construction loans payable (1) $ 28,102 $ -- $ 27,532 $226,817
=========== =========== ========= ========
BXP's nominal ownership percentage 50.00% 25.00% 50.00%
=========== =========== =========
</Table>
RESULTS OF OPERATIONS
- --------------------------------------------------------------------------------
FOR THE THREE MONTHS ENDED JUNE 30, 2002
<Table>
<Caption>
ONE MARKET 140 265
FREEDOM SQUARE METROPOLITAN KENDRICK FRANKLIN
SQUARE NORTH SQUARE STREET STREET
------------ -------------- -------------- -------------- -------------
REVENUE
Total revenue $ 3,665 $ 5,133 $ 6,021 $ 2,692 $ 2,744
------------ -------------- -------------- -------------- -------------
EXPENSES
Operating 921 1,514 1,901 384 1,087
------------ -------------- -------------- -------------- -------------
NET OPERATING INCOME 2,744 3,619 4,120 2,308 1,657
Interest 1,482 1,894 2,857 1,067 508
Depreciation and amortization 744 630 1,202 350 669
------------ -------------- -------------- -------------- -------------
NET INCOME $ 518 $ 1,095 $ 61 $ 891 $ 480
============ ============== ============== ============== =============
BXP's share of net income $ 150(4) $ 548 $ 31 $ 311(4) $ 168
============ ============== ============== ============== =============
BXP's share of Funds from Operations $ 631(4) $ 863 $ 644 $ 470(4) $ 402
============ ============== ============== ============== =============
<Caption>
901 TWO
DISCOVERY NEW YORK FREEDOM
SQUARE (2) AVENUE (2) SQUARE (2) COMBINED
------------ ------------ ----------- -----------
REVENUE
Total revenue $ 1,926 $ - $ - $ 22,181(3)
------------ ------------ ----------- -----------
EXPENSES
Operating 516 - - 6,323
------------ ------------ ----------- -----------
NET OPERATING INCOME 1,410 - - 15,858
Interest 218 - - 8,026
Depreciation and amortization 291 - - 3,886
------------ ------------ ----------- -----------
NET INCOME $ 901 $ - $ - $ 3,946
============ ============ =========== ===========
BXP's share of net income $ 451 $ - $ - $ 1,659
============ ============ =========== ===========
BXP's share of Funds from Operations $ 596 $ - $ - $ 3,606
============ ============ =========== ===========
</Table>
(1) Represents the Company's share.
(2) Property is currently under development.
(3) The impact of the straight-line rent adjustment increased revenue by $1,752
for the three months ended June 30, 2002.
(4) Reflects the changes in the allocation percentages pursuant to the
achievement of specified investment return thresholds as provided for in the
joint venture agreements.
14
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
UNCONSOLIDATED JOINT VENTURE DEBT ANALYSIS (*)
================================================================================
DEBT MATURITIES AND PRINCIPAL PAYMENTS
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
2002 2003 2004 2005 2006 THEREAFTER TOTAL
------ -------- -------- ------- ------- ---------- ---------
Amount $ 819 $ 48,852 $ 29,532 $ 2,165 $ 2,342 $ 143,107 $ 226,817
Average Rate 7.87% 3.55% 3.97% 7.89% 7.89% 7.94% 6.47%
</Table>
FLOATING AND FIXED RATE DEBT ANALYSIS
- --------------------------------------------------------------------------------
<Table>
<Caption>
WEIGHTED WEIGHTED AVERAGE
% OF DEBT AVERAGE RATE MATURITY
--------- ------------ ----------------
Floating Rate Debt 32.86% 3.49% 1.6 years
Fixed Rate Debt 67.14% 7.93% 8.6 years
--------- ------------ ----------------
Total Debt 100.00% 6.47% 6.3 years
========= ============ ================
</Table>
DEBT MATURITIES AND PRINCIPAL PAYMENTS BY PROPERTY
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
PROPERTY 2002 2003 2004 2005 2006 THEREAFTER TOTAL
- -------------------------- ------ -------- -------- ------- ------- ---------- ---------
Metropolitan Square (1) $ 277 $ 704 $ 764 $ 830 $ 901 $ 66,628 $ 70,104
Market Square North (2) 375 795 858 927 1,001 45,056 49,012
Discovery Square (2) - 28,102 - - - - 28,102
Two Freedom Square (2) - - 27,532 - - - 27,532
One Freedom Square (3) 98 205 221 239 258 18,016 19,037
265 Franklin Street (4) - 18,900 - - - - 18,900
140 Kendrick Street (3) 69 146 157 169 182 13,407 14,130
------ -------- -------- ------- ------- ---------- ---------
$ 819 $ 48,852 $ 29,532 $ 2,165 $ 2,342 $ 143,107 $ 226,817
====== ======== ======== ======= ======= ========== =========
</Table>
(*) All amounts represent the Company's share.
(1) Boston Properties has a 51% interest in this property.
(2) Boston Properties has a 50% interest in this property.
(3) Boston Properties has a 25% interest in this property.
(4) Boston Properties has a 35% interest in this property.
15
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
PORTFOLIO OVERVIEW - SQUARE FOOTAGE
================================================================================
RENTABLE SQUARE FEET OF IN-SERVICE PROPERTIES BY LOCATION AND TYPE OF PROPERTY
- --------------------------------------------------------------------------------
<Table>
<Caption>
GEOGRAPHIC AREA OFFICE (1) OFFICE/TECHNICAL INDUSTRIAL TOTAL % OF TOTAL
- ----------------------------- ---------- ---------------- ---------- ----------- ----------
Greater Boston 7,474,309 (2) 545,206 152,009 8,171,524 26.48%
Greater Washington 6,838,236 (3) 843,639 - 7,681,875 24.90%
Greater San Francisco 4,452,622 144,366 280,213 4,877,201 15.81%
Midtown Manhattan 5,571,905 - - 5,571,905 18.06%
Princeton/East Brunswick, NJ 2,316,944 - - 2,316,944 7.51%
Baltimore, MD 1,176,029 - - 1,176,029 3.81%
Richmond, VA 900,586 - - 900,586 2.92%
Bucks County, PA - - 161,000 161,000 0.52%
---------- ---------- --------- ---------- ---------
28,730,631 1,533,211 593,222 30,857,064 100.00%
========== ========== ========= ========== =========
% of Total 93.11% 4.97% 1.92% 100.00%
</Table>
HOTEL PROPERTIES
- --------------------------------------------------------------------------------
<Table>
<Caption>
NUMBER OF SQUARE
HOTEL PROPERTIES ROOMS FEET
- ---------------- --------- -------
Long Wharf Marriott, Boston, MA 402 420,000
Cambridge Center Marriott, Cambridge, MA 431 330,400
Residence Inn by Marriott, Cambridge, MA 221 187,474
-------- -------
Total Hotel Properties 1,054 937,874
======== =======
</Table>
STRUCTURED PARKING
- --------------------------------------------------------------------------------
<Table>
<Caption>
NUMBER OF SQUARE
SPACES FEET
--------- ---------
TOTAL STRUCTURED PARKING 18,484 6,017,423
========= =========
</Table>
(1) Includes retail square footage of approximately 1,100,000.
(2) Includes 343,913 square feet at 265 Franklin Street which is 35% owned by
Boston Properties and 380,987 square feet at 140 Kendrick Street which is
25% owned by Boston Properties.
(3) Includes 410,308 square feet at One Freedom Square which is 25% owned by
Boston Properties, 587,217 square feet at Metropolitan Square which is 51%
owned by Boston Properties, 401,279 square feet at Market Square North which
is 50% owned by Boston Properties and 181,019 square feet at Discovery
Square which is 50% owned by Boston Properties.
16
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PROPERTY LISTING
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
ANNUALIZED
REVENUE
NUMBER OF PER
SUB MARKET BUILDINGS SQUARE FEET OCCUPIED % OCCUPIED SF
---------------------------- --------- ----------- ---------- -----------
GREATER BOSTON
Office
800 Boylston Street - The Prudential Center CBD Boston MA 1 1,175,218 92.6% $ 38.57
(1)111 Huntington Avenue - The Prudential Center CBD Boston MA 1 859,484 95.1% 45.47
101 Huntington Avenue - The Prudential Center CBD Boston MA 1 510,983 98.0% 39.20
(2)The Shops at the Prudential Center CBD Boston MA 1 559,666 88.8% 41.39
265 Franklin Street (35% ownership) CBD Boston MA 1 343,913 67.4% 54.75
One Cambridge Center East Cambridge MA 1 215,385 93.0% 43.88
Three Cambridge Center East Cambridge MA 1 107,484 100.0% 28.05
Eight Cambridge Center East Cambridge MA 1 177,226 100.0% 31.76
Ten Cambridge Center East Cambridge MA 1 152,664 100.0% 33.96
Eleven Cambridge Center East Cambridge MA 1 79,616 100.0% 42.75
University Place Mid-Cambridge MA 1 195,282 100.0% 34.72
Reservoir Place Route 128 Mass Turnpike MA 1 522,760 80.8% 35.38
204 Second Avenue Route 128 Mass Turnpike MA 1 40,974 80.0% 30.79
140 Kendrick Street (25% ownership) Route 128 Mass Turnpike MA 3 380,987 100.0% 27.95
170 Tracer Lane Route 128 Mass Turnpike MA 1 73,203 55.1% 34.77
Waltham Office Center Route 128 Mass Turnpike MA 3 130,209 94.8% 29.77
195 West Street Route 128 Mass Turnpike MA 1 63,500 100.0% 46.35
200 West Street Route 128 Mass Turnpike MA 1 248,048 100.0% 34.46
10 & 20 Burlington Mall Road Route 128 Northwest MA 2 156,416 86.4% 29.80
Bedford Business Park Route 128 Northwest MA 1 90,000 100.0% 20.55
32 Hartwell Avenue Route 128 Northwest MA 1 69,154 100.0% 29.09
91 Hartwell Avenue Route 128 Northwest MA 1 121,215 86.4% 33.93
92 Hayden Avenue Route 128 Northwest MA 1 31,100 100.0% 51.71
100 Hayden Avenue Route 128 Northwest MA 1 55,924 100.0% 33.13
33 Hayden Avenue Route 128 Northwest MA 1 79,564 100.0% 39.03
Lexington Office Park Route 128 Northwest MA 2 167,293 86.7% 29.54
191 Spring Street Route 128 Northwest MA 1 162,700 100.0% 30.86
181 Spring Street Route 128 Northwest MA 1 53,595 100.0% 36.41
201 Spring Street Route 128 Northwest MA 1 102,500 100.0% 32.37
(1)40 Shattuck Road Route 128 Northwest MA 1 119,499 83.3% 26.98
(1)Quorum Office Park Route 128 Northwest MA 2 259,918 100.0% 17.60
Newport Office Park Route 128 South MA 1 168,829 100.0% 24.16
--------- ----------- --------- -----------
39 7,474,309 92.5% $ 36.42
--------- ----------- --------- -----------
Office/Technical
Fourteen Cambridge Center East Cambridge MA 1 67,362 100.0% 19.48
Bedford Business Park Route 128 Northwest MA 2 383,704 100.0% 14.46
17 Hartwell Avenue Route 128 Northwest MA 1 30,000 100.0% 10.25
164 Lexington Road Route 128 Northwest MA 1 64,140 100.0% 9.51
--------- ----------- --------- -----------
5 545,206 100.0% $ 14.27
--------- ----------- --------- -----------
Industrial
40-46 Harvard Street Route 128 Southwest MA 1 152,009 100.0% $ 7.54
--------- ----------- --------- -----------
Total Greater Boston: 45 8,171,524 93.2% $ 34.26
========= =========== ========= ===========
</Table>
(1) Not included in same property analysis
(2) 93,852 square feet of space added in Q2 2002 is not included in the same
property analysis.
17
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PROPERTY LISTING
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
ANNUALIZED
REVENUE
NUMBER OF PER
SUB MARKET BUILDINGS SQUARE FEET OCCUPIED % OCCUPIED SF
------------------------- ---------- ----------- ---------- -----------
GREATER WASHINGTON, DC
Office
2300 N Street West End Washington DC 1 276,930 98.7% $ 53.45
One Independence Square Southwest Washington DC 1 337,794 100.0% 40.65
Two Independence Square Southwest Washington DC 1 579,665 100.0% 37.96
Capital Gallery Southwest Washington DC 1 396,894 100.0% 36.21
500 E Street, N. W. Southwest Washington DC 1 242,769 100.0% 32.39
Metropolitan Square (51% ownership) East End Washington DC 1 587,217 97.0% 37.96
1301 New York Avenue East End Washington DC 1 188,358 100.0% 30.34
Market Square North (50% ownership) East End Washington DC 1 401,279 100.0% 44.26
Sumner Square CBD Washington DC 1 207,620 100.0% 34.07
Decoverly Two Montgomery County MD 1 77,747 100.0% 23.55
Decoverly Three Montgomery County MD 1 77,040 100.0% 25.20
Democracy Center Montgomery County MD 3 681,452 91.5% 29.20
Montvale Center Montgomery County MD 1 120,823 89.7% 23.12
(1)2600 Tower Oaks Boulevard Montgomery County MD 1 178,869 97.8% 32.04
(2)Orbital Sciences Campus Loudoun County 3 337,228 100.0% 22.96
The Arboretum Fairfax County VA 1 95,584 100.0% 25.71
One Freedom Square (25% ownership) Fairfax County VA 1 410,308 100.0% 33.26
One Reston Overlook Fairfax County VA 1 312,685 100.0% 22.15
Two Reston Overlook Fairfax County VA 1 131,594 77.4% 32.37
(1)One Discovery Square (50% ownership) Fairfax County VA 1 181,019 100.0% 35.61
New Dominion Technology Park Fairfax County VA 1 235,201 100.0% 27.19
Reston Corporate Center Fairfax County VA 2 261,046 100.0% 31.09
Lockheed Martin Building Fairfax County VA 1 255,244 100.0% 41.67
NIMA Building Fairfax County VA 1 263,870 100.0% 45.57
---------- ----------- --------- -----------
29 6,838,236 98.2% $ 34.64
---------- ----------- --------- -----------
Office/Technical
Sugarland Business Park, Building One Fairfax County VA 1 52,797 100.0% 22.57
Sugarland Business Park, Building Two Fairfax County VA 1 59,215 54.0% 21.15
7435 Boston Boulevard Fairfax County VA 1 103,557 82.3% 14.74
7451 Boston Boulevard Fairfax County VA 1 47,001 66.1% 15.39
7450 Boston Boulevard Fairfax County VA 1 62,402 100.0% 16.81
7374 Boston Boulevard Fairfax County VA 1 57,321 100.0% 13.90
8000 Grainger Court Fairfax County VA 1 90,465 100.0% 13.98
7500 Boston Boulevard Fairfax County VA 1 79,971 100.0% 14.89
7501 Boston Boulevard Fairfax County VA 1 75,756 100.0% 23.55
7601 Boston Boulevard Fairfax County VA 1 103,750 100.0% 14.28
7375 Boston Boulevard Fairfax County VA 1 26,865 87.1% 16.47
8000 Corporate Court Fairfax County VA 1 52,539 100.0% 9.80
(1)7300 Boston Boulevard Fairfax County VA 1 32,000 100.0% 20.25
---------- ----------- --------- -----------
13 843,639 92.3% $ 16.33
---------- ----------- --------- -----------
Total Greater Washington: 42 7,681,875 97.5% $ 32.74
========== =========== ========= ===========
</Table>
(1) Not included in same property analysis
(2) One of three buildings totaling 160,502 square feet is not included in
the same property analysis
18
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PROPERTY LISTING
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
ANNUALIZED
REVENUE
NUMBER OF PER
SUB MARKET BUILDINGS SQUARE FEET OCCUPIED % OCCUPIED SF
------------------------------------ ---------- ----------- ---------- -----------
MIDTOWN MANHATTAN
Office
599 Lexington Avenue Park Avenue NY 1 1,017,639 99.0% $ 58.75
280 Park Avenue Park Avenue NY 1 1,166,777 98.6% 51.32
(1)Citigroup Center Park Avenue NY 1 1,575,744 99.9% 55.51
(1)5 Times Square Times Square NY 1 1,099,754 97.5% 48.95
875 Third Avenue East Side NY 1 711,991 95.3% 53.71
---------- ----------- --------- -----------
Total Midtown Manhattan: 5 5,571,905 98.4% $ 53.72
========== =========== ========= ===========
PRINCETON/EAST BRUNSWICK, NJ
Office
101 Carnegie Center Princeton NJ 1 123,659 100.0% $ 27.45
104 Carnegie Center Princeton NJ 1 102,830 85.2% 31.59
105 Carnegie Center Princeton NJ 1 69,648 100.0% 28.80
201 Carnegie Center Princeton NJ - 6,500 100.0% 24.04
202 Carnegie Center Princeton NJ 1 128,705 100.0% 29.66
210 Carnegie Center Princeton NJ 1 161,112 100.0% 29.95
211 Carnegie Center Princeton NJ 1 47,025 100.0% 24.32
212 Carnegie Center Princeton NJ 1 148,233 100.0% 31.10
214 Carnegie Center Princeton NJ 1 152,214 96.4% 29.32
206 Carnegie Center Princeton NJ 1 161,763 100.0% 28.10
302 Carnegie Center Princeton NJ 1 65,135 85.5% 29.96
502 Carnegie Center Princeton NJ 1 116,374 95.3% 30.69
510 Carnegie Center Princeton NJ 1 234,160 100.0% 24.81
504 Carnegie Center Princeton NJ 1 121,990 100.0% 26.94
506 Carnegie Center Princeton NJ 1 135,624 56.4% 30.35
508 Carnegie Center Princeton NJ 1 131,085 100.0% 24.78
One Tower Center East Brunswick NJ 1 410,887 71.4% 32.07
---------- ----------- --------- -----------
Total Princeton/East Brunswick, NJ: 16 2,316,944 90.8% $ 28.85
========== =========== ========= ===========
GREATER SAN FRANCISCO
Office
Embarcadero Center One CBD San Francisco CA 1 833,117 96.3% $ 43.74
Embarcadero Center Two CBD San Francisco CA 1 780,441 86.7% 47.97
Embarcadero Center Three CBD San Francisco CA 1 773,719 96.8% 43.09
Embarcadero Center Four CBD San Francisco CA 1 935,877 94.5% 63.17
Federal Reserve CBD San Francisco CA 1 149,592 100.0% 49.43
West Tower CBD San Francisco CA 1 473,427 98.9% 50.36
The Gateway South San Francisco CA 2 506,449 85.5% 38.42
---------- ----------- --------- -----------
8 4,452,622 93.5% $ 48.83
---------- ----------- --------- -----------
Office/Technical
---------- ----------- --------- -----------
Hilltop Office Center South San Francisco CA 9 144,366 82.8% $ 15.36
---------- ----------- --------- -----------
Industrial
560 Forbes Blvd South San Francisco CA 1 40,000 100.0% 10.30
430 Rozzi Place South San Francisco CA 1 20,000 100.0% 11.66
2391 West Winton Hayward CA 1 220,213 100.0% 4.78
---------- ----------- --------- -----------
3 280,213 100.0% $ 6.06
---------- ----------- --------- -----------
Total Greater San Francisco: 20 4,877,201 93.6% $ 45.33
========== =========== ========= ===========
</Table>
(1) Not included in same property analysis
19
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PROPERTY LISTING
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
ANNUALIZED
REVENUE
NUMBER OF PER
SUB MARKET BUILDINGS SQUARE FEET OCCUPIED % OCCUPIED SF
--------------------------------- ---------- ----------- ---------- -----------
BALTIMORE, MD
Office
Candler Building Baltimore MD 1 540,706 97.3% $ 18.83
100 East Pratt Street Baltimore MD 1 635,323 98.2% 31.54
---------- ----------- --------- -----------
Total Baltimore, MD: 2 1,176,029 97.8% $ 25.73
========== =========== ========= ===========
RICHMOND, VA
Office
Riverfront Plaza Richmond VA 1 900,586 93.1% $ 23.76
========== =========== ========= ===========
BUCKS COUNTY, PA
Industrial
38 Cabot Boulevard Bucks County PA 1 161,000 100.0% $ 4.57
========== =========== ========= ===========
Total In-Service Properties: 132 30,857,064 95.3%
========== =========== =========
</Table>
20
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
TOP 20 TENANTS BY SQUARE FEET LEASED
================================================================================
<Table>
<Caption>
% OF
TENANT SQ. FT. PORTFOLIO
------------------------------- ------------- -----------
1 U.S. Government 2,294,441 7.44%
2 Ernst and Young 1,062,203 3.44%
3 Lockheed Martin Corporation 701,798 2.27%
4 Citibank, N.A. 639,971 2.07%
5 Shearman & Sterling 494,808 1.60%
6 Gillette Company 488,177 1.58%
7 Parametric Technology Corp. (1) 380,987 1.23%
8 Washington Group International 365,245 1.18%
9 Deutsche Bank 346,617 1.12%
10 Orbital Sciences Corporation 337,228 1.09%
11 TRW, Inc. 317,921 1.03%
12 Marsh USA Inc. 312,605 1.01%
13 Hunton & Williams 310,785 1.01%
14 Wachovia 308,826 1.00%
15 T. Rowe Price Associates, Inc. 304,129 0.99%
16 Digitas 279,182 0.90%
17 Accenture (1) 265,622 0.86%
18 Tellabs Operations, Inc. 259,918 0.84%
19 Covance, Inc. 258,831 0.84%
20 MediSense 253,704 0.82%
</Table>
MAJOR SIGNED DEALS FOR FUTURE DEVELOPMENT
- --------------------------------------------------------------------------------
<Table>
<Caption>
TENANT SQ. FT.
------ -------
Finnegan Henderson Farabow Garrett & Dunner, LLP (2) 348,542
U.S. Government 257,400
</Table>
(1) These tenants occupy space in a property in which Boston Properties has a
25% interest.
(2) Includes 97,205 sf of space in a property in which Boston Properties has a
50% interest and the remainder in a property in which Boston Properties has
a 25% interest.
21
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
PORTFOLIO OVERVIEW - FFO
================================================================================
PERCENTAGE OF PROPERTY FUNDS FROM OPERATIONS (1) FOR IN-SERVICE PROPERTIES
BY LOCATION AND TYPE OF PROPERTY FOR THE QUARTER ENDED JUNE 30, 2002
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE/
GEOGRAPHIC AREA OFFICE (2) TECHNICAL INDUSTRIAL HOTEL TOTAL
--------------- ---------- --------- ---------- ----- ------
Greater Boston 22.3% 0.8% 0.1% 3.2% 26.4%
Greater Washington 17.6% 1.4% - - 19.0%
Greater San Francisco 17.8% 0.2% 0.2% - 18.2%
Midtown Manhattan 26.3% - - - 26.3%
Princeton/East Brunswick, NJ 5.0% - - - 5.0%
Baltimore, MD 2.9% - - - 2.9%
Richmond, VA 2.1% - - - 2.1%
Bucks County, PA - - 0.1% - 0.1%
-------- -------- -------- ------ ------
Total 94.0% 2.4% 0.4% 3.2% 100.0%
======== ======== ======== ====== ======
</Table>
(1) For this table, Property Funds from Operations is equal to GAAP basis
property NOI which includes the effect of straight-line rent and excludes
any deduction for interest expense.
(2) Includes Retail Center FFO (Prudential Center and Embarcadero Center).
22
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
OCCUPANCY ANALYSIS
================================================================================
SAME PROPERTY OCCUPANCY - BY LOCATION
- --------------------------------------------------------------------------------
<Table>
<Caption>
LOCATION 30-JUN-02 30-JUN-01
- -------- --------- ---------
Greater Boston 93.3% 97.1%
Greater Washington 97.4% 98.9%
Midtown Manhattan 97.9% 99.7%
Baltimore, MD 97.8% 99.8%
Princeton/East Brunswick, NJ 90.8% 96.6%
Richmond, VA 93.1% 99.6%
Greater San Francisco 93.6% 95.0%
Bucks County, PA 100.0% 100.0%
--------- ---------
Total Portfolio 95.0% 97.7%
========= =========
</Table>
SAME PROPERTY - BY TYPE OF PROPERTY
- --------------------------------------------------------------------------------
<Table>
<Caption>
30-JUN-02 30-JUN-01
--------- ---------
Total Office Portfolio 94.9% 97.8%
Total Office/Technical Portfolio 94.0% 99.7%
Total Industrial Portfolio 100.0% 87.3%
--------- ---------
Total Portfolio 95.0% 97.7%
========= =========
</Table>
23
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE OFFICE PROPERTIES
================================================================================
LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
RENTABLE SQUARE CURRENT ANNUALIZED CURRENT ANNUALIZED
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER REVENUES UNDER
EXPIRATION EXPIRING LEASES EXPIRING LEASES EXPIRING LEASES P.S.F.
---------- --------------- --------------- ----------------------
2002 469,439 $ 18,112,458 $ 38.58
2003 1,403,974 49,898,779 35.54
2004 2,222,395 86,149,006 38.76
2005 2,415,215 87,809,898 36.36
2006 3,469,248 140,989,322 40.64
2007 2,200,402 83,855,824 38.11
2008 1,346,798 54,756,533 40.66
2009 2,433,522 89,046,900 36.59
2010 1,231,518 55,820,281 45.33
2011 2,663,812 103,317,204 38.79
Thereafter 6,223,034 269,464,321 43.30
<Caption>
ANNUALIZED ANNUALIZED
REVENUES UNDER REVENUES UNDER
YEAR OF LEASE EXPIRING LEASES EXPIRING LEASES WITH PERCENTAGE OF
EXPIRATION WITH FUTURE STEP-UPS FUTURE STEP-UPS - P.S.F. TOTAL SQUARE FEET
---------- -------------------- ------------------------ -----------------
2002 $ 18,079,594 $ 38.51 1.70%
2003 50,409,003 35.90 5.09%
2004 87,273,051 39.27 8.06%
2005 90,969,273 37.67 8.76%
2006 146,831,506 42.32 12.58%
2007 86,890,890 39.49 7.98%
2008 55,201,928 40.99 4.88%
2009 97,141,179 39.92 8.82%
2010 63,247,125 51.36 4.46%
2011 121,959,045 45.78 9.66%
Thereafter 325,189,082 52.26 22.56%
</Table>
OCCUPANCY BY LOCATION
- --------------------------------------------------------------------------------
<Table>
<Caption>
30-JUN-02 30-JUN-01
--------- ---------
Greater Boston 92.5% 94.3%
Greater Washington 98.2% 98.0%
Midtown Manhattan 98.4% 99.8%
Baltimore, MD 97.8% 99.8%
Richmond, VA 93.1% 99.6%
Princeton/East Brunswick, NJ 90.8% 96.6%
Greater San Francisco 93.5% 96.0%
Bucks County, PA n/a n/a
--------- ---------
Total Office Portfolio 95.3% * 97.1% *
========= =========
</Table>
* Includes approximately 1,100,000 of retail square footage.
24
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE OFFICE/TECHNICAL PROPERTIES
================================================================================
LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
RENTABLE SQUARE CURRENT ANNUALIZED CURRENT ANNUALIZED
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER REVENUES UNDER
EXPIRATION EXPIRING LEASES EXPIRING LEASES EXPIRING LEASES P.S.F.
---------- --------------- --------------- ----------------------
2002 148,284 $ 2,643,714 $ 17.83
2003 89,531 1,449,537 16.19
2004 119,791 1,800,839 15.03
2005 137,814 1,961,986 14.24
2006 295,604 3,822,763 12.93
2007 197,595 3,534,321 17.89
2008 64,140 609,780 -
2009 - - -
2010 79,971 1,190,430 14.89
2011 137,321 2,373,162 17.28
Thereafter 203,112 3,441,327 16.94
<Caption>
ANNUALIZED ANNUALIZED
REVENUES UNDER REVENUES UNDER
YEAR OF LEASE EXPIRING LEASES EXPIRING LEASES WITH PERCENTAGE OF
EXPIRATION WITH FUTURE STEP-UPS FUTURE STEP-UPS - P.S.F. TOTAL SQUARE FEET
---------- -------------------- ------------------------ -----------------
2002 $ 2,644,172 $ 17.83 9.67%
2003 1,458,537 16.29 5.84%
2004 1,867,833 15.59 7.81%
2005 2,102,926 15.26 8.99%
2006 4,358,965 14.75 19.28%
2007 3,910,770 19.79 12.89%
2008 641,850 - -
2009 - - -
2010 1,190,430 14.89 5.22%
2011 2,574,217 18.75 8.96%
Thereafter 3,996,784 19.68 13.25%
</Table>
OCCUPANCY BY LOCATION
- --------------------------------------------------------------------------------
<Table>
<Caption>
30-JUN-02 30-JUN-01
--------- ---------
Greater Boston 100.0% 100.0%
Greater Washington 92.3% 98.0%
Midtown Manhattan n/a n/a
Baltimore, MD n/a n/a
Richmond, VA n/a n/a
Princeton/East Brunswick, NJ n/a n/a
Greater San Francisco 82.8% 97.0%
Bucks County, PA n/a n/a
--------- ---------
Total Office/Technical Portfolio 94.1% 98.5%
========= =========
</Table>
25
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE INDUSTRIAL PROPERTIES
================================================================================
LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
RENTABLE SQUARE CURRENT ANNUALIZED CURRENT ANNUALIZED
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER REVENUES UNDER
EXPIRATION EXPIRING LEASES EXPIRING LEASES EXPIRING LEASES P.S.F.
---------- --------------- --------------- ----------------------
2002 23,904 $ 208,186 $ 8.71
2003 128,105 938,399 7.33
2004 160,213 763,217 4.76
2005 - - -
2006 161,000 736,000 -
2007 20,000 233,256 11.66
2008 60,000 289,224 -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
ANNUALIZED ANNUALIZED
REVENUES UNDER REVENUES UNDER
YEAR OF LEASE EXPIRING LEASES EXPIRING LEASES WITH PERCENTAGE OF
EXPIRATION WITH FUTURE STEP-UPS FUTURE STEP-UPS - P.S.F. TOTAL SQUARE FEET
---------- -------------------- ------------------------ -----------------
2002 $ 208,186 $ 8.71 4.03%
2003 938,399 7.33 21.59%
2004 801,668 5.00 27.01%
2005 - - -
2006 736,000 - 0.29
2007 258,183 12.91 3.37%
2008 325,524 - 0.11
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
OCCUPANCY BY LOCATION
- --------------------------------------------------------------------------------
<Table>
<Caption>
30-JUN-02 30-JUN-01
--------- ---------
Greater Boston 100.0% 89.8%
Greater Washington n/a n/a
Midtown Manhattan n/a n/a
Baltimore, MD n/a n/a
Richmond, VA n/a n/a
Princeton/East Brunswick, NJ n/a n/a
Greater San Francisco 100.0% 78.6%
Bucks County, PA 100.0% 100.0%
--------- ---------
Total Industrial Portfolio 100.0% 87.3%
========= =========
</Table>
26
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE RETAIL PROPERTIES
================================================================================
LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
RENTABLE SQUARE CURRENT ANNUALIZED CURRENT ANNUALIZED
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER REVENUES UNDER
EXPIRATION EXPIRING LEASES EXPIRING LEASES EXPIRING LEASES P.S.F.
---------- --------------- --------------- ----------------------
2002 28,219 $ 2,369,481 $ 83.97 (1)
2003 195,407 5,720,979 29.28
2004 121,930 6,831,551 56.03
2005 99,859 3,923,877 39.29
2006 87,764 3,598,948 41.01
2007 72,251 3,247,508 44.95
2008 51,434 2,442,520 47.49
2009 40,202 1,632,929 40.62
2010 95,645 2,858,868 29.89
2011 41,041 2,474,914 60.30
Thereafter 352,397 15,042,807 42.69
<Caption>
ANNUALIZED ANNUALIZED
REVENUES UNDER REVENUES UNDER
YEAR OF LEASE EXPIRING LEASES EXPIRING LEASES WITH PERCENTAGE OF
EXPIRATION WITH FUTURE STEP-UPS FUTURE STEP-UPS - P.S.F. TOTAL SQUARE FEET
---------- -------------------- ------------------------ -----------------
2002 $ 2,448,045 $ 86.75 2.46%
2003 5,761,492 29.48 17.02%
2004 6,921,781 56.77 10.62%
2005 4,090,883 40.97 8.70%
2006 3,644,827 41.53 7.64%
2007 3,699,727 51.21 6.29%
2008 2,610,886 50.76 4.48%
2009 1,751,869 43.58 3.50%
2010 3,973,620 41.55 8.33%
2011 2,868,437 69.89 3.57%
Thereafter 18,641,357 52.90 30.69%
</Table>
(1) Includes $1,010,533 (at expiration) of annual revenue from the Prudential
Center retail kiosks for which there is zero square footage assigned.
27
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
GRAND TOTAL OF ALL
IN-SERVICE PROPERTIES
================================================================================
LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
RENTABLE SQUARE CURRENT ANNUALIZED CURRENT ANNUALIZED
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER REVENUES UNDER
EXPIRATION EXPIRING LEASES EXPIRING LEASES EXPIRING LEASES P.S.F.
---------- --------------- --------------- ----------------------
2002 669,846 $ 23,333,838 $ 34.83
2003 1,817,017 58,007,694 31.92
2004 2,624,329 95,544,613 36.41
2005 2,652,888 93,695,761 35.32
2006 4,013,616 149,147,033 37.16
2007 2,490,248 90,870,909 36.49
2008 1,522,372 58,098,058 38.16
2009 2,473,724 90,679,829 36.66
2010 1,407,134 59,869,580 42.55
2011 2,842,174 108,165,280 38.06
Thereafter 6,778,543 287,948,454 42.48
<Caption>
ANNUALIZED ANNUALIZED
REVENUES UNDER REVENUES UNDER
YEAR OF LEASE EXPIRING LEASES EXPIRING LEASES WITH PERCENTAGE OF
EXPIRATION WITH FUTURE STEP-UPS FUTURE STEP-UPS - P.S.F. TOTAL SQUARE FEET
---------- -------------------- ------------------------ -----------------
2002 $ 23,379,997 $ 34.90 2.17%
2003 58,567,431 32.23 5.89%
2004 96,864,333 36.91 8.50%
2005 97,163,082 36.63 8.60%
2006 155,571,298 38.76 13.01%
2007 94,759,570 38.05 8.07%
2008 58,780,189 38.61 4.93%
2009 98,893,049 39.98 8.02%
2010 68,411,175 48.62 4.56%
2011 127,401,699 44.83 9.21%
Thereafter 347,827,223 51.31 21.97%
</Table>
OCCUPANCY BY LOCATION
- --------------------------------------------------------------------------------
<Table>
<Caption>
30-JUN-02 30-JUN-01
--------- ---------
Greater Boston 93.2% 94.6%
Greater Washington 97.5% 98.0%
Midtown Manhattan 98.4% 99.8%
Baltimore, MD 97.8% 99.8%
Richmond, VA 93.1% 99.6%
Princeton/East Brunswick, NJ 90.8% 96.6%
Greater San Francisco 93.6% 95.0%
Bucks County, PA 100.0% 100.0%
--------- ---------
Total Portfolio 95.3% 97.0%
========= =========
</Table>
28
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER BOSTON PROPERTIES
================================================================================
LEASE EXPIRATIONS - GREATER BOSTON
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
----------- --------------- --------------- --------------------
2002 233,283 $ 7,427,655 $ 7,427,655
2003 236,668 8,063,732 8,075,922
2004 630,849 23,718,414 24,566,756
2005 920,508 35,877,227 36,743,475
2006 567,757 20,690,653 21,193,623
2007 360,291 15,172,824 16,085,794
2008 112,472 3,586,314 3,611,575
2009 936,074 33,896,871 36,947,067
2010 170,346 6,538,891 7,454,791
2011 758,984 26,430,066 31,542,876
Thereafter 1,279,951 47,319,029 57,734,883
<Caption>
OFFICE/TECHNICAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 253,704 3,204,732 3,651,878
2007 80,000 1,076,626 1,419,126
2008 64,140 609,780 641,850
2009 - - -
2010 - - -
2011 80,000 1,576,152 1,776,152
Thereafter 67,362 1,312,022 1,618,519
</Table>
<Table>
<Caption>
INDUSTRIAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 23,904 $ 208,186 $ 208,186
2003 128,105 938,399 938,399
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 11,418 $ 1,657,165 $ 1,735,729
2003 164,515 4,041,761 4,053,761
2004 71,761 4,883,092 4,889,585
2005 63,847 2,118,123 2,207,128
2006 32,862 1,551,855 1,558,535
2007 4,664 388,500 388,500
2008 5,466 427,825 427,825
2009 2,158 60,845 71,435
2010 37,110 713,161 1,492,471
2011 12,551 685,500 741,140
Thereafter 222,089 7,218,319 7,871,581
</Table>
(1) Includes $1,010,533 (at expiration) of annual revenue from the Prudential
Center retail kiosks for which there is zero square footage assigned.
29
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER BOSTON PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS - GREATER BOSTON
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 24,986 $ 1,620,928 $ 1,620,928
Q4 2002 208,297 5,806,727 5,806,727
------------ ---------------- ----------------
Total 2002 233,283 $ 7,427,655 $ 7,427,655
============ ================ ================
Q1 2003 91,395 $ 3,391,914 $ 3,391,914
Q2 2003 67,868 2,035,695 2,035,695
Q3 2003 43,055 1,744,116 1,748,522
Q4 2003 34,350 892,007 899,791
------------ ---------------- ----------------
Total 2003 236,668 $ 8,063,732 $ 8,075,922
============ ================ ================
<Caption>
OFFICE/TECHNICAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
---------------- --------------- --------------
Total 2002 - $ - $ -
================ =============== ==============
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
---------------- --------------- --------------
Total 2003 - $ - $ -
================ =============== ==============
</Table>
<Table>
<Caption>
INDUSTRIAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 23,904 208,186 208,186
------------ ---------------- ----------------
Total 2002 23,904 $ 208,186 $ 208,186
============ ================ ================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 128,105 938,399 938,399
Q4 2003 - - -
------------ ---------------- ----------------
Total 2003 128,105 $ 938,399 $ 938,399
============ ================ ================
<Caption>
RETAIL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 2,947 $ 339,029 $ 339,029
Q4 2002 8,471 1,318,135 1,396,699
---------------- --------------- --------------
Total 2002 11,418 $ 1,657,165 $ 1,735,729
================ =============== ==============
Q1 2003 129,300 $ 475,712 $ 475,712
Q2 2003 - - -
Q3 2003 1,650 145,067 145,067
Q4 2003 33,565 3,420,982 3,432,982
---------------- --------------- --------------
Total 2003 164,515 $ 4,041,761 $ 4,053,761
================ =============== ==============
</Table>
30
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER WASHINGTON PROPERTIES
================================================================================
LEASE EXPIRATIONS - GREATER WASHINGTON
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 66,698 $ 2,139,251 $ 2,176,328
2003 208,117 5,534,841 6,000,593
2004 248,594 8,977,492 9,318,467
2005 465,582 16,243,190 17,503,950
2006 903,269 36,851,382 38,980,533
2007 624,689 22,911,108 20,479,947
2008 416,132 16,672,522 13,357,213
2009 697,042 22,998,882 24,487,873
2010 454,833 17,542,365 20,823,261
2011 1,062,026 31,553,531 38,239,988
Thereafter 1,450,214 48,112,915 55,616,635
<Caption>
OFFICE/TECHNICAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 131,598 $ 2,372,340 $ 2,372,340
2003 55,120 874,971 874,971
2004 67,791 1,190,159 1,226,493
2005 101,345 1,420,220 1,518,966
2006 33,400 508,999 563,495
2007 107,895 2,343,587 2,377,536
2008 - - -
2009 - - -
2010 79,971 1,190,430 1,190,430
2011 57,321 797,010 798,065
Thereafter 135,750 2,129,305 2,378,265
</Table>
<Table>
<Caption>
INDUSTRIAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
------------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 2,162 $ 68,055 $ 68,055
2003 - - -
2004 4,360 193,353 197,713
2005 4,274 136,832 140,178
2006 3,309 115,200 115,684
2007 14,952 375,347 384,072
2008 16,338 575,463 670,555
2009 2,996 - -
2010 16,553 380,721 446,488
2011 11,221 466,553 528,386
Thereafter 30,630 750,662 1,129,202
</Table>
31
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER WASHINGTON PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS - GREATER WASHINGTON
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 18,977 $ 554,868 $ 590,859
Q4 2002 47,721 1,584,383 1,585,468
------------ ---------------- ----------------
Total 2002 66,698 $ 2,139,251 $ 2,176,328
============ ================ ================
Q1 2003 10,922 $ 305,891 $ 305,891
Q2 2003 76,266 2,049,143 2,380,061
Q3 2003 99,243 2,595,117 2,705,480
Q4 2003 21,686 584,689 609,161
------------ ---------------- ----------------
Total 2003 208,117 $ 5,534,841 $ 6,000,593
============ ================ ================
<Caption>
OFFICE/TECHNICAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 77,434 $ 1,252,718 $ 1,252,718
Q4 2002 54,164 1,119,622 1,119,622
---------------- --------------- --------------
Total 2002 131,598 $ 2,372,340 $ 2,372,340
================ =============== ==============
Q1 2003 - $ - $ -
Q2 2003 23,439 351,284 351,284
Q3 2003 31,681 523,687 523,687
Q4 2003 - - -
---------------- --------------- --------------
Total 2003 55,120 $ 874,971 $ 874,971
================ =============== ==============
</Table>
<Table>
<Caption>
INDUSTRIAL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- ------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------- --------------- --------------
Total 2002 - $ - $ -
============= =============== ==============
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------- --------------- --------------
Total 2003 - $ - $ -
============= =============== ==============
<Caption>
RETAIL
-----------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 1,352 $ 40,286 $ 40,286
Q4 2002 810 27,770 27,770
--------------- --------------- --------------
Total 2002 2,162 $ 68,055 $ 68,055
=============== =============== ==============
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
--------------- --------------- --------------
Total 2003 - $ - $ -
=============== =============== ==============
</Table>
32
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER SAN FRANCISCO PROPERTIES
================================================================================
LEASE EXPIRATIONS - GREATER SAN FRANCISCO
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 97,162 $ 4,867,967 $ 4,867,967
2003 601,886 26,056,897 26,064,529
2004 634,854 29,092,696 28,923,247
2005 339,135 15,457,069 15,921,674
2006 904,582 44,388,551 46,281,393
2007 449,009 21,017,080 21,776,538
2008 161,895 6,674,240 6,870,824
2009 263,495 11,481,089 12,240,287
2010 169,761 10,382,847 12,257,770
2011 192,689 17,956,541 18,449,135
Thereafter 67,300 3,085,020 3,376,075
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 16,686 $ 271,374 $ 271,832
2003 34,411 574,566 583,567
2004 52,000 610,680 641,340
2005 36,469 541,766 583,961
2006 8,500 109,032 143,592
2007 9,700 114,108 114,108
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 160,213 763,217 801,668
2005 - - -
2006 - - -
2007 20,000 233,256 258,183
2008 60,000 289,224 325,524
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
------------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 14,639 $ 618,740 $ 618,740
2003 26,062 1,333,127 1,343,945
2004 29,285 1,384,840 1,443,012
2005 26,823 1,238,241 1,277,257
2006 18,043 900,034 907,852
2007 26,649 1,466,980 1,666,332
2008 24,937 1,255,419 1,317,105
2009 35,048 1,572,084 1,680,434
2010 30,749 1,290,724 1,463,645
2011 3,474 194,944 229,226
Thereafter 28,325 1,552,373 2,025,953
</Table>
33
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE GREATER SAN FRANCISCO PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS - GREATER SAN FRANCISCO
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 59,107 $ 2,281,528 $ 2,281,528
Q4 2002 38,055 2,586,439 2,586,439
------------------ ------------------ -------------------
Total 2002 97,162 $ 4,867,967 $ 4,867,967
================== ================== ===================
Q1 2003 90,597 $ 3,616,477 $ 3,616,477
Q2 2003 168,036 8,439,865 8,439,865
Q3 2003 16,114 795,386 797,527
Q4 2003 327,139 13,205,169 13,210,660
------------------ ------------------ -------------------
Total 2003 601,886 $ 26,056,897 $ 26,064,529
================== ================== ===================
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 8,822 $ 146,965 $ 146,965
Q4 2002 7,864 124,409 124,867
------------------ ------------------ --------------------
Total 2002 16,686 $ 271,374 $ 271,832
================== ================== ====================
Q1 2003 7,755 $ 134,859 $ 134,859
Q2 2003 14,001 225,103 229,273
Q3 2003 9,047 147,648 150,528
Q4 2003 3,608 66,956 68,907
------------------ ------------------ --------------------
Total 2003 34,411 $ 574,566 $ 583,567
================== ================== ====================
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 1,848 $ 55,440 $ 55,440
Q4 2002 12,791 563,300 563,300
------------------ ------------------ --------------------
Total 2002 14,639 $ 618,740 $ 618,740
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 7,412 535,358 536,006
Q3 2003 1,317 83,385 83,385
Q4 2003 17,333 714,384 724,554
------------------ ------------------ --------------------
Total 2003 26,062 $ 1,333,127 $ 1,343,945
================== ================== ====================
</Table>
34
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE MIDTOWN MANHATTAN PROPERTIES
================================================================================
LEASE EXPIRATIONS - MIDTOWN MANHATTAN
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 42,569 $ 2,933,793 $ 2,863,853
2003 87,831 3,823,691 3,823,691
2004 164,723 9,276,950 9,291,974
2005 65,687 3,498,387 3,520,037
2006 275,251 15,187,256 15,489,286
2007 178,176 9,786,194 10,872,654
2008 448,340 23,928,617 26,753,135
2009 254,179 13,534,011 15,020,102
2010 262,063 16,054,960 16,995,731
2011 390,554 19,753,680 25,232,160
Thereafter 3,179,584 163,819,824 200,280,940
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
----------- --------------- --------------- --------------------
2002 - $ 16,800 $ 16,800
2003 2,315 291,126 307,173
2004 3,800 245,794 266,573
2005 2,819 338,511 365,887
2006 17,700 775,686 806,582
2007 6,876 652,016 718,010
2008 3,232 152,562 169,104
2009 - - -
2010 10,608 459,508 551,880
2011 13,795 1,127,916 1,369,685
Thereafter 69,953 5,509,352 7,600,737
</Table>
35
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE MIDTOWN MANHATTAN PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS - MIDTOWN MANHATTAN
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 12,416 $ 1,104,996 $ 1,035,056
Q4 2002 30,153 1,828,797 1,828,797
------------------ ------------------ --------------------
Total 2002 42,569 $ 2,933,793 $ 2,863,853
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 28,815 1,745,565 1,745,565
Q3 2003 59,016 2,078,126 2,078,126
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 87,831 $ 3,823,691 $ 3,823,691
================== ================== ====================
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== =================== ====================
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - 16,800 16,800
------------------ ------------------ --------------------
Total 2002 - $ 16,800 $ 16,800
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 1,515 62,780 64,220
Q4 2003 800 228,346 242,953
------------------ ------------------ --------------------
Total 2003 2,315 $ 291,126 $ 307,173
================== ================== ====================
</Table>
36
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PRINCETON/EAST BRUNSWICK PROPERTIES
================================================================================
LEASE EXPIRATIONS - PRINCETON/EAST BRUNSWICK
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 8,950 $ 267,457 $ 267,457
2003 100,226 2,750,771 2,750,771
2004 420,122 12,365,583 12,358,268
2005 225,352 6,834,162 6,916,066
2006 89,754 2,940,290 3,085,005
2007 502,230 13,352,128 14,769,053
2008 - - -
2009 155,012 4,669,314 5,409,592
2010 145,675 4,690,766 5,105,120
2011 254,941 7,504,255 8,358,206
Thereafter 210,759 6,181,396 6,709,661
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 10,541 48,000 48,000
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
37
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE PRINCETON/EAST BRUNSWICK PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS - PRINCETON/EAST BRUNSWICK
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 4,984 $ 146,968 $ 146,968
Q4 2002 3,966 120,488 120,488
------------------ ------------------ --------------------
Total 2002 8,950 $ 267,457 $ 267,457
================== ================== ====================
Q1 2003 8,734 $ 259,701 $ 259,701
Q2 2003 8,493 252,533 252,533
Q3 2003 11,302 309,629 309,629
Q4 2003 71,697 1,928,908 1,928,908
------------------ ------------------ --------------------
Total 2003 100,226 $ 2,750,771 $ 2,750,771
================== ================== ====================
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
</Table>
38
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE OTHER PROPERTIES
================================================================================
LEASE EXPIRATIONS
OTHER PROPERTIES (RICHMOND, VA, BALTIMORE, MD, BUCKS COUNTY, PA)
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 20,777 $ 476,334 $ 476,334
2003 169,246 3,668,848 3,693,497
2004 123,253 2,717,872 2,814,339
2005 398,951 9,899,863 10,364,071
2006 728,635 20,931,190 21,801,665
2007 86,007 1,616,490 2,906,905
2008 207,959 3,894,840 4,609,180
2009 127,720 2,466,733 3,036,258
2010 28,840 610,452 610,452
2011 4,618 119,131 136,679
Thereafter 35,226 946,137 1,470,888
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 - - -
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ - $ -
2003 - - -
2004 - - -
2005 - - -
2006 161,000 736,000 736,000
2007 - - -
2008 - - -
2009 - - -
2010 - - -
2011 - - -
Thereafter - - -
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
2002 - $ 8,721 $ 8,721
2003 2,515 54,964 56,613
2004 2,183 76,472 76,899
2005 2,096 92,170 100,432
2006 15,850 256,173 256,173
2007 19,110 364,665 542,814
2008 1,461 31,251 26,298
2009 - - -
2010 625 14,754 19,135
2011 - - -
Thereafter 1,400 12,100 13,884
</Table>
39
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
IN-SERVICE OTHER PROPERTIES
================================================================================
QUARTERLY LEASE EXPIRATIONS
- --------------------------------------------------------------------------------
OTHER PROPERTIES (RICHMOND, VA, BALTIMORE, MD, BUCKS COUNTY, PA)
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 6,979 $ 113,805 $ 113,805
Q4 2002 13,798 362,529 362,529
------------------ ------------------ --------------------
Total 2002 20,777 $ 476,334 $ 476,334
================== ================== ====================
Q1 2003 41,400 $ 678,103 $ 678,103
Q2 2003 28,654 674,123 678,617
Q3 2003 23,106 486,649 496,321
Q4 2003 76,086 1,829,973 1,840,456
------------------ ------------------ --------------------
Total 2003 169,246 $ 3,668,848 $ 3,693,497
================== ================== ====================
<Caption>
OFFICE/TECHNICAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
</Table>
<Table>
<Caption>
INDUSTRIAL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - - -
------------------ ------------------ --------------------
Total 2002 - $ - $ -
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 - - -
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 - $ - $ -
================== ================== ====================
<Caption>
RETAIL
------------------------------------------------------------
ANNUALIZED
RENTABLE SQUARE CURRENT ANNUALIZED REVENUES UNDER
YEAR OF LEASE FOOTAGE SUBJECT TO REVENUES UNDER EXPIRING LEASES
EXPIRATION EXPIRING LEASES EXPIRING LEASES WITH FUTURE STEP-UPS
---------- --------------- --------------- --------------------
Q3 2002 - $ - $ -
Q4 2002 - 8,721 8,721
------------------ ------------------ --------------------
Total 2002 - $ 8,721 $ 8,721
================== ================== ====================
Q1 2003 - $ - $ -
Q2 2003 - - -
Q3 2003 2,515 54,964 56,613
Q4 2003 - - -
------------------ ------------------ --------------------
Total 2003 2,515 $ 54,964 $ 56,613
================== ================== ====================
</Table>
40
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
HOTEL PERFORMANCE
================================================================================
<Table>
<Caption>
LONG WHARF MARRIOTT - BOSTON
- -------------------------------------------------------------------------------------------------------------------------------
SECOND QUARTER SECOND QUARTER PERCENT YTD YTD PERCENT
2002 2001 CHANGE 2002 2001 CHANGE
-------------- -------------- ------- -------- -------- -------
Occupancy 88.2% 83.3% (1) 5.9% 82.2% 77.1% (1) 6.6%
Average Daily Rate $ 219.02 $ 257.04 -14.8% $ 200.41 $ 238.83 -16.1%
REVPAR $ 193.25 $ 214.11 -9.7% $ 164.64 $ 184.14 -10.6%
- -------------------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
CAMBRIDGE CENTER MARRIOTT
- -------------------------------------------------------------------------------------------------------------------------------
SECOND QUARTER SECOND QUARTER PERCENT YTD YTD PERCENT
2002 2001 CHANGE 2002 2001 CHANGE
-------------- -------------- ------- -------- -------- -------
Occupancy 81.0% 84.3% -3.9% 73.3% 80.8% -9.3%
Average Daily Rate $ 187.36 $ 212.08 -11.7% $ 173.90 $ 199.71 -12.9%
REVPAR $ 151.70 $ 178.78 -15.1% $ 127.49 $ 161.37 -21.0%
- -------------------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
RESIDENCE INN BY MARRIOTT
- -------------------------------------------------------------------------------------------------------------------------------
SECOND QUARTER SECOND QUARTER PERCENT YTD YTD PERCENT
2002 2001 CHANGE 2002 2001 CHANGE
-------------- -------------- ------- -------- -------- -------
Occupancy 87.6% 88.3% -0.8% 84.0% 87.5% -4.0%
Average Daily Rate $ 140.45 $ 174.42 -19.5% $ 133.15 $ 162.60 -18.1%
REVPAR $ 123.08 $ 154.01 -20.1% $ 111.78 $ 142.28 -21.4%
- -------------------------------------------------------------------------------------------------------------------------------
</Table>
<Table>
<Caption>
TOTAL HOTEL PERFORMANCE
- -------------------------------------------------------------------------------------------------------------------------------
SECOND QUARTER SECOND QUARTER PERCENT YTD YTD PERCENT
2002 2001 CHANGE 2002 2001 CHANGE
-------------- -------------- ------- -------- -------- -------
Occupancy 85.1% 84.8% 0.4% 78.9% 80.8% -2.4%
Average Daily Rate $ 189.60 $ 221.33 -14.3% $ 175.47 $ 206.85 -15.2%
REVPAR $ 161.55 $ 187.06 -13.6% $ 138.37 $ 166.05 -16.7%
- -------------------------------------------------------------------------------------------------------------------------------
</Table>
(1) Room renovation project underway during 2001.
41
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
SAME PROPERTY PERFORMANCE
================================================================================
OFFICE, OFFICE/TECHNICAL, INDUSTRIAL AND HOTEL PROPERTIES
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE OFFICE/TECHNICAL INDUSTRIAL HOTEL TOTAL
---------- ----------------- ---------- ------- ----------
Number of Properties 91 26 5 3 125
Square feet 24,201,990 1,501,211 593,222 937,874 27,234,297
Percent of In-service properties 84.2% 97.9% 100.0% 100.0% 85.7%
Occupancy @ 6/30/01 97.8% 99.7% 87.3% - 97.7%
Occupancy @ 6/30/02 94.9% 94.0% 100.0% - 95.0%
Percent change from 2nd quarter 2002
over 2nd quarter 2001
Revenue (1) 2.1% -2.9% 8.6% -16.1% 1.2%
Expense 2.7% -10.2% -7.3% 31.8% 3.0%
Net Operating Income (1) 1.8% -0.9% 13.7% -24.1% 0.4%
Revenue - cash basis (1) 2.6% -4.3% 3.8% -16.1% 1.6%
Net Operating Income - cash basis (1) 2.6% -2.6% 7.3% -24.1% 1.0%
</Table>
SAME PROPERTY LEASE ANALYSIS - QUARTER ENDED JUNE 30, 2002
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE OFFICE/TECHNICAL INDUSTRIAL TOTAL
---------- ---------------- ---------- ----------
Vacant space available @04/01/02 (sf) 1,282,423 45,268 60,000 1,387,691
Square footage of leases expiring or
terminated 04/01/02-06/30/02 628,137 50,729 161,000 839,866
---------- ---------------- ---------- ----------
Total space for lease (sf) 1,910,560 95,997 221,000 2,227,557
========== ================ ========== ==========
New tenants (sf) 530,220 5,000 60,000 595,220
Renewals (sf) 123,286 1,214 161,000 285,500
---------- ---------------- ---------- ----------
Total space leased (sf) 653,506 6,214 221,000 880,720
========== ================ ========== ==========
Space available @ 6/30/02 (sf) 1,257,054 89,783 - 1,346,837
========== ================ ========== ==========
Net (increase)/decrease in available space (sf) 25,369 (44,515) 60,000 40,854
Average lease term (months) 106 33 37 88
2nd generation TI/Comm PSF $ 26.13 $ 1.68 $ 0.68 $ 19.40
Increase in 2nd generation net rents (2) 20.4% 5.4% 6.7% 19.9%
</Table>
(1) Does not include termination and early surrender income.
(2) Represents increase in net rents on a "cash to cash" basis. (Actual net
rent at time of expiration vs. initial net rent of new lease.)
42
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
PROPERTY PERFORMANCE
ALL IN-SERVICE PROPERTIES - QUARTER ENDED JUNE 30, 2002
- --------------------------------------------------------------------------------
<Table>
<Caption>
OFFICE OFFICE/TECHNICAL INDUSTRIAL TOTAL
---------- ---------------- ---------- ---------
Vacant space available @ 04/01/02 (sf) 1,375,299 45,268 60,000 1,480,567
New development sf completed 953,273 - - 953,273
Square footage of leases expiring or
terminated 04/01/02-06/30/02 628,137 50,729 161,000 839,866
---------- ---------------- ---------- ---------
Total space for lease (sf) 2,956,709 95,997 221,000 3,273,706
========== ================ ========== =========
New tenants (sf) 1,445,098 5,000 60,000 1,510,098
Renewals (sf) 123,286 1,214 161,000 285,500
---------- ---------------- ---------- ---------
Total space leased (sf) 1,568,384 6,214 221,000 1,795,598 (2)
========== ================ ========== =========
Space available @ 06/30/02 (sf) 1,388,325 89,783 - 1,478,108
========== ================ ========== =========
Net (increase)/decrease in available space (sf) (13,026) (44,515) 60,000 2,459
Average lease term (months) 106 33 37 97
2nd generation TI/Comm PSF $ 26.18 $ 1.68 $ 0.68 $ 19.50
Increase in 2nd generation net rents (1) 21.0% 5.4% 6.7% 20.4%
</Table>
(1) Represents increase in net rents on a "cash to cash" basis (actual net rent
at time of expiration vs. initial net rent of new lease).
(2) Details of 1st and 2nd Generation Space:
<Table>
<Caption>
Total
1st Generation 2nd Generation Leased
-------------- -------------- ---------
Boston 897,294 93,908 991,202
Washington 32,340 177,308 209,648
New York - 275,149 275,149
San Francisco - 114,066 114,066
Princeton - 205,533 205,533
-------------- -------------- ---------
929,634 865,964 1,795,598
============== ============== =========
</Table>
43
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
HISTORICALLY GENERATED CAPITAL EXPENDITURES,
TENANT IMPROVEMENT COSTS AND LEASING COMMISSIONS
================================================================================
HISTORICAL CAPITAL EXPENDITURES
- --------------------------------------------------------------------------------
(IN THOUSANDS)
<Table>
<Caption>
Q2 2002 Q1 2002 2001 2000
----------- ----------- ----------- -----------
Recurring capital expenditures $ 3,553 $ 2,946 $ 11,770 $ 11,201
Planned non-recurring capital expenditures associated with
acquisition properties (1) 9,777 8,955 45,052 25,782
Hotel improvements, equipment upgrades and replacements 852 1,784 9,230 5,697
----------- ----------- ----------- -----------
$ 14,182 $ 13,685 $ 66,052 $ 42,680
=========== =========== =========== ===========
</Table>
2ND GENERATION TENANT IMPROVEMENTS AND LEASING COMMISSIONS (2)
- --------------------------------------------------------------------------------
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<Table>
<Caption>
Q2 2002 Q1 2002 2001 2000
----------- ----------- ----------- -----------
Office
Square feet 638,750 483,934 2,394,291 2,913,599
----------- ----------- ----------- -----------
Tenant improvement and lease commissions p.s.f. $ 26.18 $ 20.95 $ 17.47 $ 13.82
----------- ----------- ----------- -----------
Office/Technical
Square feet 6,214 1,047 348,178 694,536
----------- ----------- ----------- -----------
Tenant improvement and lease commissions p.s.f. $ 1.68 $ 1.02 $ 3.13 $ 2.95
----------- ----------- ----------- -----------
Industrial
Square feet 221,000 - - 209,125
----------- ----------- ----------- -----------
Tenant improvement and lease commissions p.s.f. $ 0.68 $ - $ - $ 1.38
----------- ----------- ----------- -----------
Average tenant improvement and lease commission p.s.f. $ 19.50 $ 20.91 $ 15.65 $ 11.16
=========== ============ ============ ===========
</Table>
(1) Includes budgeted costs associated with the 18.4 million square feet of
previously disclosed acquisitions.
(2) Based on leases executed during the period.
44
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
VALUE CREATION PIPELINE - ACQUISITIONS/DISPOSITIONS
================================================================================
AS OF JUNE 30, 2002
ACQUISITIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
ANTICIPATED
INITIAL FUTURE TOTAL CURRENT
PROPERTY DATE ACQUIRED SQUARE FEET INVESTMENT INVESTMENT INVESTMENT OCCUPANCY
- -------- ------------- ----------- ------------ ---------- ----------- -----------
N/A
----------- ------------ ---------- ----------- -----------
TOTAL VALUE CREATION PIPELINE - - $ - $ - $ - -
=========== ============ ========== =========== ===========
ACQUISITIONS
</Table>
DISPOSITIONS
- --------------------------------------------------------------------------------
<Table>
<Caption>
NET
PROPERTY DATE DISPOSED SQUARE FEET NET PROCEEDS BOOK VALUE GAIN
- -------- ------------- ------------- -------------- ------------ ------------
Fullerton Square Mar-02 179,453 $ 22,193,973 $ 15,048,473 $ 7,145,500
7600 Boston Boulevard Mar-02 69,832 8,517,245 2,920,113 5,597,132 (1)
7700 Boston Boulevard Mar-02 82,224 16,428,227 10,415,656 6,012,571 (1)
7702 Boston Boulevard Mar-02 43,171 8,916,000 7,000,000 1,916,000 (1),(2)
------------- -------------- ------------ ------------
TOTAL DISPOSITIONS 374,680 $ 56,055,445 $ 35,384,242 $ 20,671,203
============= ============== ============ ============
</Table>
(1) The gain has been deferred for accounting purposes.
(2) Property is currently under development and will be transferred to the
buyer subsequent to completion of development. The gain of $1.9 million is
an estimate based on the sales price of $8.9 million (of which $2.0 million
has been received as of June 30, 2002) and an estimated total project cost
of $7.0 million (of which $4.8 million has been incurred as of June 30,
2002).
45
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
VALUE CREATION PIPELINE - CONSTRUCTION IN PROGRESS
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
# OF
DEVELOPMENT PROPERTIES INITIAL OCCUPANCY STABILIZATION DATE LOCATION BUILDINGS SQUARE FEET
- ---------------------- ----------------- ------------------ -------------------- --------- -----------
Two Discovery Square (50% ownership) Q2 2002 Q1 2003 Reston, VA 1 184,487
Broad Run Business Park- Building E Q2 2002 Q2 2003 Dulles, VA 1 127,226
Shaws Supermarket Q2 2003 Q2 2003 Boston, MA 1 57,235
Waltham Weston Corporate Center Q1 2002 Q4 2003 Waltham, MA 1 304,050
New Dominion Tech, Building Two Q2 2004 Q2 2004 Herndon, VA 1 257,400
Two Freedom Square (50% ownership) Q3 2002 Q3 2004 Reston, VA 1 405,252
611 Gateway Boulevard Q4 2003 Q4 2004 S. San Francisco, CA 1 249,732
Times Square Tower Q1 2004 Q4 2004 New York, NY 1 1,218,511
901 New York Avenue (25% ownership) Q3 2004 Q4 2004 Washington, D.C. 1 538,464
--------- -----------
TOTAL DEVELOPMENT PROPERTIES 9 3,342,357
========= ===========
<Caption>
ANTICIPATED TOTAL AMOUNT
DEVELOPMENT PROPERTIES INVESTMENT TOTAL CONSTRUCTION DRAWN AT
- ---------------------- TO DATE INVESTMENT (1) LOAN JUNE 30, 2002
-------------- ---------------- -------------- --------------
Two Discovery Square (50% ownership) $ 16,088,984 $ 22,663,000 (2) $ 20,625,000 12,099,193
Broad Run Business Park- Building E 14,513,378 19,946,000 - -
Shaws Supermarket 13,151,511 24,034,000 24,000,000 12,079,800
Waltham Weston Corporate Center 63,252,108 95,446,000 70,000,000 53,601,229
New Dominion Tech, Building Two 5,114,799 67,589,000 - -
Two Freedom Square (50% ownership) 35,542,869 49,336,000 (2) 45,000,000 (2) 27,532,415
611 Gateway Boulevard 53,921,529 81,221,000 - -
Times Square Tower 285,035,722 653,500,000 493,500,000 170,751,357
901 New York Avenue (25% ownership) 12,406,584 44,777,250 - -
-------------- ---------------- -------------- --------------
TOTAL DEVELOPMENT PROPERTIES $ 499,027,484 $ 1,058,512,250 $ 653,125,000 $ 276,063,994
============== ================ ============== ==============
<Caption>
CURRENT
FUTURE EQUITY PERCENTAGE
REQUIREMENT LEASED
-------------- --------------
Two Discovery Square (50% ownership) $ - 78%
Broad Run Business Park- Building E 5,432,622 55%
Shaws Supermarket - 100%
Waltham Weston Corporate Center 15,795,121 19%
New Dominion Tech, Building Two 62,474,201 100%
Two Freedom Square (50% ownership) - 58%
611 Gateway Boulevard 27,299,471 0%
Times Square Tower 45,715,635 0%
901 New York Avenue (25% ownership) 32,370,666 47%
-------------- --------------
TOTAL DEVELOPMENT PROPERTIES $ 189,087,716 32%
============== ==============
</Table>
================================================================================
<Table>
<Caption>
PLACED STABILIZATION # OF
IN SERVICE DATE DATE LOCATION BUILDINGS SQUARE FEET
--------------- ------------- --------------- ------------ -------------
CLASS A OFFICE BUILDING
One Discovery Square (50% ownership) Q1 2002 Q1 2002 Reston, VA 1 181,019
ITT Educational Services Q1 2002 Q1 2002 Springfield, VA 1 32,000
5 Times Square Q1 2002 Q1 2002 New York, NY 1 1,099,754
111 Huntington Avenue - Prudential Center Q3 2001 Q2 2002 Boston, MA 1 859,484
111 Huntington Avenue - retail Q3 2001 Q1 2003 Boston, MA - 93,852
------------ -------------
TOTAL DEVELOPMENTS PLACED IN SERVICE 4 2,266,109
============ =============
<Caption>
INVESTMENT TOTAL CONSTRUCTION DRAWN AT
TO DATE INVESTMENT LOAN JUNE 30, 2002
--------------- -------------- --------------- ---------------
CLASS A OFFICE BUILDING
One Discovery Square (50% ownership) $ 18,000,000 $ 18,541,000 $ 16,875,000 $ 16,002,798
ITT Educational Services 5,252,852 5,740,000 - -
5 Times Square 460,569,466 536,115,000 420,000,000 351,008,652
111 Huntington Avenue - Prudential Center 299,528,403 290,000,000 203,000,000 196,245,002
111 Huntington Avenue - retail - n/a - -
--------------- -------------- --------------- ---------------
TOTAL DEVELOPMENTS PLACED IN SERVICE $ 783,350,721 $ 850,396,000 $ 639,875,000 $ 563,256,452
=============== ============== =============== ===============
<Caption>
FUTURE EQUITY PERCENTAGE
REQUIREMENT LEASED
------------- ---------------
CLASS A OFFICE BUILDING
One Discovery Square (50% ownership) $ - 100%
ITT Educational Services 487,148 100%
5 Times Square - 100%
111 Huntington Avenue - Prudential Center - 98%
111 Huntington Avenue - retail 100%
------------- ---------------
TOTAL DEVELOPMENTS PLACED IN SERVICE $ 487,148 99%
============= ===============
</Table>
(1) Includes net revenues during lease-up period and cash component of hedge
contracts.
(2) Represents 50% of the total anticipated project-level investment and
construction loan.
46
<Page>
BOSTON PROPERTIES, INC.
SECOND QUARTER 2002
VALUE CREATION PIPELINE - OWNED LAND PARCELS
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
NO. OF DEVELOPABLE
LOCATION PARCELS ACREAGE SQUARE FEET
- -------- --------- ------------ ---------------
Rockville, MD 4 92.3 986,000
Dulles, VA 2 76.6 937,000
Gaithersburg, MD 4 27.0 850,000
San Jose, CA 5 3.7 841,000
Reston, VA 3 26.7 861,000
Boston, MA 2 0.5 776,000
Marlborough, MA 1 50.0 400,000
Weston, MA 1 74.0 350,000
Herndon, VA (1) 1 8.9 126,000
Waltham, MA 1 4.3 202,000
S. San Francisco, CA (2) 1 3.0 121,000
Andover, MA 1 10.0 110,000
--------- ------------ ---------------
26 377.0 6,560,000
========= ============ ===============
</Table>
VALUE CREATION PIPELINE - LAND PURCHASE OPTIONS
================================================================================
AS OF JUNE 30, 2002
<Table>
<Caption>
NO. OF DEVELOPABLE
LOCATION PARCELS ACREAGE SQUARE FEET
- -------- --------- ------------ ---------------
Princeton, NJ (3) 14 149.9 1,900,000
Framingham, MA (4) 1 21.5 300,000
Cambridge, MA (5) 1 2.6 165,000
--------- ------------ ---------------
16 174.0 2,365,000
========= ============ ===============
</Table>
(1) Sold for $5.2 million in July 2002.
(2) Sold for $8.0 million in July 2002.
(3) $20.00/FAR plus an earnout calculation.
(4) Subject to ground lease.
(5) Prior to January 23, 2003 the cost will be $27.72/ SF of land area. Land
area is approximately 108,000 SF.
47