THOMAS PROPERTIES GROUP HITS LEASING MILESTONE
AT CITY NATIONAL PLAZA

– Downtown Los Angeles landmark is now 80 percent leased marking major turnaround since company acquired the property –

LOS ANGELES--(BUSINESS WIRE)--November 12, 2007--Thomas Properties Group, Inc. (Nasdaq:TPGI) has completed two significant lease transactions, signing Chubb Insurance for 92,562 square feet and Psomas for 41,235 square feet, at City National Plaza. Since acquiring the property in 2003, Thomas Properties Group has invested $185 million in a comprehensive program of renovations and upgrades which, coupled with the firm’s premier management and leasing teams, has transformed City National Plaza and moved it from 80 percent vacant to 80 percent leased.

“City National Plaza has long been an iconic property in Los Angeles. It holds a prominent position in the heart of the city. We have worked diligently to modernize the facilities with new systems as well as updated common areas such as the building lobbies and the large outdoor plaza on Flower Street,” noted James A. Thomas, chairman and CEO, Thomas Properties Group. “It is gratifying to see the fruits of our hard work. City National Plaza is now filled with a variety of top companies and soon we will welcome new restaurants to the plaza, fulfilling our goal to create more life and energy on the street level.”

Chubb Insurance, which is expected to take occupancy in February 2008, has leased almost four floors in the 555 S. Flower tower. Founded in 1882, the Chubb Group of Insurance Companies provides property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia. Onno Zwaneveld of CB Richard Ellis represented the company in the transaction.

Psomas will move its corporate headquarters to one-and-a-half floors in the 555 tower in December. Psomas is a leading consulting engineering firm specializing in the land development, water and transportation markets. The firm has offices throughout California as well as in Arizona, Colorado, Nevada, Utah and Mexico. Ralph Simmonds of Simmonds Realty and Chris Holland of Coldwell Banker Westmac represented Psomas in the lease transaction.

“With these leases there are no more large blocks of space available at City National Plaza. This changes the leasing dynamic of the downtown commercial office market,” noted Kent Handleman, senior vice president for leasing, Thomas Properties Group.

Among the last remaining spaces at City National Plaza are the former Bank of America headquarters on the top floor of the south tower, and two floors at the top of the north tower, which were Arco’s headquarters. Featuring spectacular city views, both spaces have 20-foot-high ceilings, 27,000-square-foot floor plates and high-end improvements such as ornate and expensive built-in cabinetry.

On the plaza level, a portion of the center “jewel box” building is being renovated for a 7,000-square-foot Chaya restaurant. Offering indoor and outdoor dining, Chaya will open in the Spring of 2008. Thomas Properties Group is currently in negotiations with another prominent restaurateur for the adjacent space.

As part of its comprehensive property improvement program, Thomas Properties Group has restructured the retail concourse, now named 505 Flower, to make it more open with new lighting, finishes and fixtures that create a bright, vibrant shopping and dining area. It now includes a 30,000-square-foot 24-Hour Fitness facility and a number of full-service restaurants along with several quick-serve eateries to meet the needs of downtown businesses and residents.

Thomas Properties Group executives, Kent Handleman and Charlie Smith, vice president of leasing, represented the company in the transactions.

City National Plaza, is 2.7 million square feet comprised of twin 52-story towers with a three-story “jewel box” building between them on the project’s spacious plaza. The property occupies an entire city block in the financial district of downtown Los Angeles, bounded by Flower, Figueroa, Fifth and Sixth Streets. Designed by A.C. Martin Partners and built in 1972, the buildings are sheathed in forest-green granite and glass. For more than 30 years, this property has been a defining feature of L.A.’s world-famous skyline.

About Thomas Properties Group
Thomas Properties Group, Inc., based in Los Angeles, is a full-service real estate company that owns, acquires, develops and manages primarily office, as well as mixed-use and residential properties on a nationwide basis. The company’s primary areas of focus are the acquisition and ownership of premier properties, both on a consolidated basis and through its strategic joint ventures, property development and redevelopment, and property management activities. The company seeks to capitalize on opportunities for above-average risk-adjusted investment returns from real estate ownership, while managing the volatility associated with the real estate industry through joint-venture ownership structures. For more information on Thomas Properties Group, Inc., visit www.tpgre.com.

Forward-Looking Statements:
Statements made in this press release that are not historical may contain forward-looking statements. Although Thomas Properties Group, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. Factors that could cause actual results to differ materially from the company's expectations include actual and perceived trends in various national and economic conditions that affect global and regional markets for commercial real estate services, including interest rates, the availability of credit to finance commercial real estate transactions, and the impact of tax laws affecting real estate. For a discussion of some of the factors that may cause our results to differ from management's expectations, see the information under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors That May Influence Future Results of Operations" in our 10- K for the year ended December 31, 2006, as amended, and contained in the company’s reports on Form 10- Q for fiscal quarters during 2007, which have been filed with the SEC. Thomas Properties Group, Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INVESTOR RELATIONS: Diana Laing, CFO
Thomas Properties Group, Inc.
(213) 613-1900

Media contact:
MEDIA CONTACT: Karen Diehl
(310) 396-2400