GLB Glenborough

Glenborough Realty Trust Incorporated (NYSE:GLB) announced today that the Board of Directors has declared a dividend of $0.35 per share of Common Stock, payable on April 17, 2006 to stockholders of record on April 1, 2006. Although it has not been declared, the Board expects the next dividend will be $0.275 per share of Common Stock, payable on July 17, 2006 to stockholders of record on July 1, 2006. The Board of Directors also declared a dividend of $0.484375 per share on the Company's 7.75% Series A Convertible Preferred Stock (NYSE:GLB PrA), payable on April 17, 2006 to stockholders of record on March 29, 2006.