CommonWealth REIT (CWH) May Resumed Dividend if Lender Waiver Obtained

As previously disclosed, the removal of the CommonWealth REIT's (NYSE: CWH) entire Board of Trustees, without cause, on March 25, 2014, constituted an event of default under the Company’s term loan and revolving credit facility agreements. Under these agreements, the Company generally is prevented from making any distributions or paying any dividends during the pendency of an event of default. As a result, the Company has been unable to declare and pay dividends since March 25, 2014.

As previously disclosed, the Company has entered into forbearance agreements with the lenders under its term loan and revolving credit facility agreements effective as of April 11, 2014 pursuant to which the lenders generally agreed to forbear from exercising their rights and remedies as a result of specified events of default arising from the removal of the Company’s trustees until 5:00 p.m. Eastern time on June 13, 2014 (or earlier, in certain events), unless the Company has obtained a waiver of the event of default or other relief from its lenders prior to that time. Following the election of the Company’s new Board of Trustees on May 23, 2014, the Company has requested that its lenders provide a waiver of the events of default arising from the removal of the Company’s trustees. If the Company obtains such a waiver, the Company’s Board of Trustees will consider whether to resume payment of dividends on its outstanding Series D Preferred Shares, Series E Preferred Shares and common shares. There can be no assurance that the Company will be able to obtain a waiver from its lenders.

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