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March 25, 2005

Digital Realty Trust Buys Chicago IDC

Digital Realty Trust (digitalrealtytrust.com), an operator of technology facilities, announced on Tuesday that it had agreed to purchase Lakeside Technology Center for approximately $142.6 million in cash.

Lakeside Technology Center, based in Chicago, is an eight-story building comprising a total of approximately 1,095,540 square feet. Of the total space, about 275,000 square feet is vacant space in condition for redevelopment. The facility houses national telecom carriers and data center operations for large corporate customers, in addition to a centrally-located meet-me-room and colocation facility.

"Lakeside Technology Center is one of the premier Internet gateways in the region and fits extremely well with our current asset base and business strategy," says Michael Foust, chief executive officer of Digital Realty Trust. "We are very excited to be in the Chicago market, which is the major hub for commerce and telecom network traffic for the Midwest. Our acquisition of Lakeside Technology Center will provide us with a fantastic opportunity to provide space to leading technology and corporate data center tenants who require the mission critical infrastructure necessary to operate their businesses without interruption."

The transaction is subject to certain closing conditions.

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