New Investment Vehicle to Target Stabilized Office Properties in Target Markets across Country

LOS ANGELES--(BUSINESS WIRE)--June 2, 2008--Thomas Properties Group, Inc. (Nasdaq:TPGI), announced today that it has entered into an agreement with UBS Wealth Management - North American Property Fund Limited ("UBS") in which UBS will allocate $250 million to a joint venture program with Thomas Properties to acquire stabilized Class A office properties in U.S. markets identified for their attractive investment and demographic characteristics.

Thomas Properties generally will contribute 15 percent of the equity required for each acquisition and receive customary acquisition, asset management and incentive-based fees for programs of this type. Properties may be initially acquired on an "all cash" basis, depending on the attractiveness of available debt financing, with targeted long-term leverage of up to 60 percent loan-to-value. Thomas Properties also will provide property management and leasing services for properties acquired in markets in which the company has an existing presence. These services for new markets will be determined on a case-by-case basis.

John Sischo, Executive Vice President of Thomas Properties, commented, "We are delighted to be embarking on this new program and partnering with an institution of UBS' caliber. We expect the current investment and credit markets environment to produce opportunities to acquire high-quality assets in strategic target markets at attractive risk-adjusted returns."

Markets initially targeted for investment include, among others: Los Angeles, Orange County, San Diego and San Francisco, California, Austin and Houston, Texas, Washington DC/Northern Virginia, Seattle, Denver and Phoenix.

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 TPGI 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 TPGI'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, 2007, and contained in our reports on Form 10-Q for fiscal quarters during 2008, which have been filed with the SEC. TPGI 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