SAN FRANCISCO, Jan. 31 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR) today announced that it is commencing an underwritten public offering of 12,000,000 shares of Series D Cumulative Convertible Preferred Stock for estimated gross proceeds of $300,000,000. The shares of Series D Cumulative Convertible Preferred Stock will be convertible for shares of Digital Realty Trust common stock. The dividend rate, conversion rate and offering price are to be determined by negotiations between Digital Realty Trust and the underwriters.

The offering is being made pursuant to its shelf registration statement filed with the Securities and Exchange Commission. Digital Realty Trust will also grant the underwriters an option to purchase up to an additional 1,800,000 shares of Series D Cumulative Convertible Preferred Stock, solely to cover over-allotments.

Digital Realty Trust intends to utilize the net proceeds from the offering to temporarily repay borrowings under its credit facility. Consistent with Digital Realty Trust's growth strategy, Digital Realty Trust is actively pursuing multiple opportunities for potential acquisitions, with due diligence and negotiations at different stages of advancement. Digital Realty Trust intends to reborrow amounts under its credit facility from time to time to acquire additional properties, to fund development and redevelopment activities and for general corporate purposes.

Citi and Credit Suisse Securities (USA) LLC will be the joint book-running managers for the offering. A preliminary prospectus supplement and final prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. Copies of the preliminary prospectus supplement and final prospectus supplement, when available, may be obtained from Citi (Attention Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220) or from Credit Suisse Securities (USA) LLC (Prospectus Department, One Madison Avenue, New York, New York 10010). This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.

Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter(TM) and Powered Base Building(TM) datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and internet enterprises, to manufacturing and financial services. Digital Realty Trust's 70 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 12.3 million rentable square feet, including 1.8 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 26 markets throughout North America and Europe.



     For Additional Information:

     A. William Stein                Pamela A. Matthews
     Chief Financial Officer and     Investor/Analyst Information
     Chief Investment Officer        Digital Realty Trust, Inc.
     Digital Realty Trust, Inc.      (415) 738-6532
     (415) 738-6500

SOURCE Digital Realty Trust, Inc.