EXHIBIT 12.1

EOP Operating Limited Partnership
Statement of Earnings to Fixed Charges
(Dollars in thousands)


	For the years ended December 31,
	2004			2003			2002			2001			2000
Income before income taxes, allocation to minority interests, income from investments in unconsolidated joint ventures	$	150,308		$	417,943		$	616,143		$	463,216		$	400,859

Plus Fixed Charges:
Interest expense		834,417			816,084			805,458			723,348			517,787
Capitalized interest		4,648			10,089			20,466			23,537			14,277
Loan amortization cost		15,337			6,943			4,931			15,137			11,311

Fixed charges		854,402			833,116			830,855			762,022			543,375

Plus amortization of capitalized interest		2,577			1,994			1,636			1,226			1,026
Plus distributed income of investments in unconsolidated joint ventures		66,829			87,624			149,224			82,409			63,942
Less capitalized interest		(4,648	)		(10,089	)		(20,466	)		(23,537	)		(14,277	)
Less minority interest in pretax income of subsidiaries that have not incurred fixed charges		(3,962	)		(2,217	)		(2,345	)		(2,333	)		(768	)

Total		60,796			77,312			128,049			57,765			49,923

Earnings	$	1,065,506		$	1,328,371		$	1,575,047		$	1,283,003		$	994,157

Fixed charges	$	854,402		$	833,116		$	830,855		$	762,022		$	543,375

Earnings to fixed charges		1.2			1.6			1.9			1.7			1.8

EOP OPERATING LTD PARTNERSHIP 8-K