Georgia Second Mortgage

Franklin Street Properties Corp. Announces Second Quarter and ...

WAKEFIELD, MA -- (MARKET WIRE) -- August 02, 2006 -- Franklin Street Properties Corp. (the "Company" or "FSP") (AMEX: FSP) announced today net income and Earnings Per Share (EPS) for the three and six months ended June 30, 2006. The Company also announced Adjusted Funds From Operations (AFFO) and provided an update on recent property acquisitions.

The Company evaluates its performance based on net income, EPS and AFFO, and believes each is an important measure. The Company considers these measurements in determining distributions paid to equity holders. A reconciliation of net income to AFFO, a non-GAAP financial measure, is provided on page 2 of this press release. The following significant factors affected net income, EPS and AFFO for the three and six months ended June 30, 2006 compared to results for the same periods in 2005: A reconciliation of net income to AFFO is shown below and a definition of AFFO is provided on Supplemental Schedule F.