Exhibit 99.1

[FINANCIAL RELATIONS BOARD LOGO]


                                        RE: LEXINGTON CORPORATE PROPERTIES TRUST
                                                                  ONE PENN PLAZA
                                                                      SUITE 4015
                                                              NEW YORK, NY 10119
FOR FURTHER INFORMATION:

AT THE COMPANY:                            AT FINANCIAL RELATIONS BOARD:
Patrick Carroll                            Diane Hettwer         Tim Grace
Chief Financial Officer                    Analyst Inquiries     Media Inquiries
(212) 692-7200                             (312) 640-6760        (312) 640-6667

FOR IMMEDIATE RELEASE
MONDAY, JUNE 27, 2005

                      LEXINGTON CORPORATE PROPERTIES TRUST
                     ANNOUNCES $200 MILLION CREDIT FACILITY

New  York,  NY  -  June  27,  2005  -  Lexington   Corporate   Properties  Trust
("Lexington")  (NYSE:LXP),  a real estate investment trust, today announced that
it has obtained a $200 million  unsecured  revolving  credit  facility.  The new
credit facility replaces  Lexington's  existing $100 million credit facility and
matures in June,  2008 with a one-year  extension  option.  The credit  facility
bears  interest  at a rate of  120-170  basis  points  over LIBOR  depending  on
Lexington's  overall level of indebtedness.  Borrowings on the old facility were
at 150-250 basis points over LIBOR depending the number of properties  Lexington
owned free and clear of mortgage debt.

Comments From Management

Commenting  on the  new  credit  facility  Patrick  Carroll,  Lexington's  Chief
Financial  Officer,  said, "Our portfolio  growth and balance sheet  improvement
over the last two years have allowed us to increase our  borrowing  capacity and
lower our financing costs. The new credit facility provides Lexington with added
financial flexibility and more attractive short-term borrowing costs."

About Lexington

Lexington  is a real  estate  investment  trust  that owns and  manages  office,
industrial and retail properties net-leased to major corporations throughout the
United States and provides  investment advisory and asset management services to
investors in the net lease area. Lexington common shares closed Friday, June 24,
2005 at $23.89 per share.  Lexington  pays an  annualized  dividend of $1.44 per
share.    Additional    information    about    Lexington    is   available   at
http://www.lxp.com.


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Lexington Corporate Properties Trust
Add 1


This release contains certain forward-looking statements which involve known and
unknown  risks,  uncertainties  or other factors not under  Lexington's  control
which may cause actual  results,  performance or achievements of Lexington to be
materially  different  from the  results,  performance,  or  other  expectations
implied by these forward-looking statements.  These factors include, but are not
limited to, those factors and risks  detailed in  Lexington's  periodic  filings
with the Securities and Exchange Commission.  Lexington undertakes no obligation
to  publicly  release  the  results of any  revisions  to those  forward-looking
statements  which  may be made to  reflect  events  or  circumstances  after the
occurrence of  unanticipated  events.  Accordingly,  there is no assurance  that
Lexington's expectations will be realized.



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