MONMOUTH REAL ESTATE ANNOUNCES GENERAL AND PREFERRED

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HOLMDEL, NJ Jul 01, 2021 (GLOBE NEWS) – July 1, 2021 Board of Directors of Monmouth Real Estate Investment Corporation (NYSE:MNR) announced a quarterly cash dividend on the Company’s ordinary shares of $ 0.18 per share. Dividends on ordinary shares will be paid to registered shareholders at the close of business on August 16, 2021 and September 15, 2021, except in cases where the expected merger of the Company with Equity Commonwealth is completed by September 15, 2021. The dividend payout will be accelerated and paid immediately until the entry into force of the merger.

Also on July 1, 2021, the Board of Directors announced the payment of dividends on the cumulative redeemable Series C preferred shares of the Company at 6.125% per annum. Preferred dividends will cover the period from June 1, 2021 to August 31, 2021, unless the pending merger with Commonwealth Equity is completed by August 31, 2021. If the merger is completed by 31 August 2021, then the preference dividend Period will end, but does not include the closing date of the merger, and dividends will be paid immediately prior to the effective date of the merger. If the merger is not completed by August 31, 2021, preference dividends will be paid on August 31, 2021. The $ 0.3828125 per share quarterly preference dividend will be prorated if the merger is completed by August 31, 2021. Regardless of whether the merger ends before August 31, 2021, dividends on preferred shares will be paid to registered shareholders at the close of business on August 16, 2021.

Founded in 1968, Monmouth Real Estate Investment Corporation is one of the oldest public REIT funds in the world. The company specializes in leasing industrial facilities with an individual tenant on a long-term lease basis, primarily to investment grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company with a portfolio of 120 rental properties totaling approximately 24.5 million square feet, geographically diversified across 31 states. The occupancy rate of the company as of this date is 99.7%.

Participants in the petition

Monmouth Real Estate Investment Corporation (“Monmouth” or “The Company”) and some of its directors, executive officers and other employees may be considered as having requested powers of attorney from Monmouth shareholders in connection with the proposed merger with Equity Commonwealth under the SEC rule and the US Exchanges (“SEC”). Investors can obtain information on the names, affiliations and interests of Monmouth directors and executives in the Monmouth Annual Report Form 10-K for Monmouth’s fiscal year ended September 30, 2020, which was filed with the Securities and Exchange Commission on November 23, 2020. since and also in other Monmouth documents to the SEC. Other information about participants in a proxy request and a description of their direct and indirect interests, whether held by the securities or otherwise, will be contained in the proxy / prospectus and other relevant proxy materials to be filed with the SEC in relation to the proposed merger when they will become available.

No suggestions or motions

This communication is not intended and should not constitute an offer to buy or sell or a solicitation to buy or sell any securities, or a solicitation by any representative, voting or approval, nor should there be any sale of securities in any or a jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Placement of securities is not permitted except through a prospectus complying with the requirements of Section 10 of the United States Securities Act of 1933, as amended.

Additional information and where to find it

In connection with the proposed merger, Monmouth and Equity Commonwealth intend to file a proxy application / prospectus with the SEC, which will be circulated to the general shareholders of Monmouth for their approval of the merger, and to Equity Commonwealth shareholders for their approval. Equity Commonwealth common stock issue in connection with the merger. Monmouth and Equity Commonwealth may also file other documents regarding the proposed merger with the SEC. This communication is not intended to replace such documentation or any other document that Monmouth and / or Commonwealth Equity may file with the SEC in connection with the merger. Before the adoption of any vote or investment decision, investors and security holders CALLED YOU TO READ ALL THE STATEMENT / PROSPECTUS WHEN IT BECOMES, and any related documents signed documentation or amendment CAREFULLY AND CONSISTENTLY, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MONMOUTH, COMMUNITY SHARES AND THE PROPOSED MERGER. Investors and securities holders will be able to obtain free copies of the proxy statement / prospectus and other documents filed with the SEC by Monmouth, when available, through the SEC maintained website at: www.sec.gov. In addition, investors and securities holders will be able to obtain free copies of the statement / prospectus of power of attorney and other documents filed with the SEC on the Monmouth website at: www.mreic.reit

Contact: Becky Coleridge
732-577-9996

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