Citigroup is re-offering the stock to the public at $28.17 ashare. Net proceeds, including the over-allotment, would exceed$251 million. Brandywine will use the proceeds to fund a portion ofthe estimated $600-million consideration in its pending acquisitionof Philadelphia-based Rubenstein Co. and to repay outstandingindebtedness.

When completed, the Rubenstein acquisition will add 14 class Aoffice properties aggregating 3.5 million sf to Brandywine'sportfolio, which currently encompasses 279 office and industrialproperties with an aggregate 20.3 million sf. Furthermore, all ofthe Rubenstein properties are in Brandywine's core market area,including Philadelphia, its surrounding suburbs, and neighboringWilmington, DE. The acquisition is expected to close by the end ofthis quarter.

Brandywine trades as BDN on the NYSE. Just prior to noon onThursday, Sept. 16, BDN shares were trading at $28.42 a share. The52-week high, $30.82 a share, was reached on April 1 this year; the52-week low of $23.52 a share, on May 10 this year.