Exhibit 12

WASHINGTON REAL ESTATE INVESTMENT TRUST

Computation of Ratio of Earnings to Fixed Charges

For the Quarter Ended March 31, 2008

(In thousands)

 

     Q1 2008     Q1 2007  

Income (loss) from continuing operations

   $ (2,335 )   $ 9,674  

Additions:

    

Fixed charges

    

Interest expense

     17,664       14,384  

Capitalized interest

     757       1,260  
                
   $ 18,421     $ 15,644  

Deductions:

    

Capitalized interest

     (757 )     (1,260 )
                

Adjusted earnings

     15,329       24,058  
                

Fixed Charges (from above)

     18,421       15,644  

Ratio of Earnings to Fixed Charges

     (a)       1.54  

 

(a)

Due to the Trust’s loss from continuing operations during the 2008 Quarter, the coverage ratio was less than 1:1. The Trust must generate additional earnings of $3,092 to achieve a coverage of 1:1. The loss in Q1 2008 included the impact of the loss on extinguishment of debt of $8,449 (See Consolidated Results of Operations in Item 2.)

 

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