Prime Group Realty Trust (OTC PINK: PMGEP) (the "Company") and Five Mile Capital Partners LLC ("Five Mile"), a Connecticut-based commercial real estate and alternative investment firm, announced today the results of the tender offer (the "Offer") by an affiliate of Five Mile to purchase any and all of the Company's outstanding 9% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (the "Series B Preferred Shares") at a purchase price of $5.25 per share, in cash, without interest. The Offer expired at 5:00 p.m., Chicago, Illinois time, on January 9, 2012.

According to information provided by BNY Mellon Shareowner Services, the Information Agent for the Offer, approximately 2,613,000 Series B Preferred Shares were validly tendered and not validly withdrawn on or before the expiration date. The validly tendered and not validly withdrawn Series B Preferred Shares represent approximately 65.3% of the issued and outstanding Series B Preferred Shares.

The purchaser has accepted for purchase the approximately 2,613,000 Series B Preferred Shares and expects to make payment for all Series B Preferred Shares accepted for purchase on or about January 17, 2012.

The purchaser has retained BNY Mellon Shareowner Services to serve as the Information Agent in connection with the Offer. Questions regarding the Offer may be directed to BNY Mellon Shareowner Services at 1-866-433-3847 (Toll Free) or 201-680-6579 (Collect).

Duff & Phelps, LLC acted as financial advisor to the Board, and Winston & Strawn LLP provided legal advice to the Company. Compass Point Research and Trading, LLC was engaged as an investment advisor to the Company. Five Mile was represented by Goodwin Procter LLP.

About Prime Group Realty Trust

Prime Group Realty Trust is a self-administered and self-managed real estate investment trust (REIT) which owns, manages, leases, develops and redevelops office and industrial real estate in metropolitan Chicago. The Company currently owns 1 office property containing an aggregate of 167,756 net rentable square feet and interests in two joint ventures that own two office properties comprised of approximately 1.24 million net rentable square feet. The Company leases and manages approximately 1.31 million square feet comprising all of its wholly-owned properties and its 330 N. Wabash Avenue joint venture property. For more information about Prime Group Realty Trust, contact the Company's Chicago headquarters at (312) 917-1300 or visit its website at www.pgrt.com.

Prime Group Realty Trust's Series B preferred shares (OTC Pink: PMGEP) trade on the OTC Pink tier of the OTC market. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.

About Five Mile Capital Partners

Five Mile Capital Partners LLC is a commercial real estate and alternative investment firm established in 2003 and based in Stamford, Connecticut. The firm specializes in investment opportunities in real estate, debt products, structured finance, asset-based lending and financial services private equity. Five Mile Capital Partners has executed numerous transactions involving distressed and non performing first mortgage, mezzanine loans, equity and high yield structured products. Five Mile Capital Partners' principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure. Five Mile Capital Partners currently manages approximately $2 billion of capital. For more information, visit www.fivemilecapital.com.

Notice To Investors

This press release contains certain forward-looking statements which involve known or unknown risks, uncertainties or other factors not under the Company's control which may cause the actual results, performance or achievement of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements.

Prime Group Realty Trust
Jeffrey A. Patterson
President and CEO
312-917-1300
or
Five Mile Capital Partners LLC
James Glasgow
Managing Director
203-905-0950