Exhibit 99.2

Supplemental Operating and Financial Data
for the Quarter ended March 31, 2006

www.trz.com

This Supplemental Operating and Financial Data
is not an offer to sell or solicitation to buy any
securities of the Company and should be read in
conjunction with the financial statements and
related notes of the Company and all of the public
filings of the Company with the Securities and
Exchange Commission. Any offers to sell or
solicitations of the Company shall be made by
means of a prospectus.

First Quarter 2006

Trizec Properties, Inc., a real estate investment trust (REIT) headquartered in Chicago, is one of the largest owners and operators of commercial office properties in the United States. As of March 31, 2006, the company has ownership interests in and manages a high-quality portfolio of 48 office properties totaling approximately 36 million square feet concentrated in the metropolitan areas of seven major U.S. cities. Trizec trades on the New York Stock Exchange under the symbol TRZ. For more information, visit Trizec’s Web site at www.trz.com or call toll free at 1 (800) 891-7017.

Table of Contents


	Page

Investor Information		1
Financial Highlights		2
Segmented Financial Information		3
Consolidated Balance Sheet Information		4
Additional Financial Information		5
Same-Property Performance		6
Unconsolidated Real Estate Joint Venture Financial Information		7-8
Office Portfolio Analysis		9-14
Property Listing		15
Mortgage Debt and Other Loans		16-17
Discontinued Operations		18
2006 Disposition Summary		19

Appendix:
A) Financial Information		20

This report contains forward-looking statements, within the meaning of the federal securities laws, relating to our business and financial outlook which are based on our current expectations, beliefs, projections, forecasts, future plans and strategies, and anticipated events or trends. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or the negative of these terms or other comparable terminology. We intend these forward-looking statements, which are not guarantees of future performance and financial condition, to be covered by the safe harbor provisions for forward-looking statements contained in the federal securities laws. Forward-looking statements are not historical facts. Instead, such statements reflect estimates and assumptions and are subject to certain risks and uncertainties that are difficult to predict or anticipate. Therefore, actual outcomes and results may differ materially from those projected or anticipated in these forward-looking statements. You should not place undue reliance on these forward-looking statements. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, without limitation, the risks described under “Item 1. Business — Risk Factors” in our 2004 Form 10-K, filed with the Securities and Exchange Commission on March 11, 2005. These factors include, without limitation, the following: changes in national and local economic conditions, including those economic conditions in our seven core markets; the extent, duration and strength of any economic recovery; our ability to maintain occupancy and to timely lease or re-lease office space; the extent of any tenant bankruptcies and insolvencies; our ability to sell our non-core office properties in a timely manner; our ability to acquire office properties selectively in our core markets; our ability to integrate and realize the full benefits from our acquisitions, including the Arden office portfolio; our ability to maintain REIT qualification and changes to U.S. tax laws that affect REITs; material increases in the amount of special dividends payable to affiliates of Trizec Canada on shares of our special voting stock as a result of increases in the applicable cross-border withholding tax rates; Canadian tax laws that affect treatment of investment in U.S. real estate companies; the competitive environment in which we operate; the cost and availability of debt and equity financing; the effect of any impairment charges associated with changes in market conditions; the sale or other disposition of shares of our common stock owned by Trizec Canada Inc.; our ability to obtain, at a reasonable cost, adequate insurance coverage for catastrophic events, such as earthquakes and terrorist acts; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission.

Investor Information

First Quarter 2006


Corporate Office:
	Trizec Properties, Inc.	Tel:	(312) 798-6000
	10 S. Riverside Plaza, Suite 1100	Fax:	(312) 798-6270
	Chicago, IL 60606	Toll Free:	(800) 891-7017
		Web site:	www.trz.com
		E-mail:	investor.relations@trz.com


Selected Corporate Officers:
	Peter Munk	Chairman
	Tim Callahan	President and Chief Executive Officer
	Mike Colleran	Chief Financial Officer
	Bill Tresham	Chief Operating Officer
	Brian Lipson	Chief Investment Officer

Research Coverage:
	Goldman Sachs	Jay Habermann / Sloan Bohlen	(917) 343-4260 / (212) 902-2796
	Green Street Advisors	Jim Sullivan / Cedrik Lachance	(949) 640-8780
	Lehman Brothers	David Harris	(212) 526-1790
	Merrill Lynch	Steve Sakwa / Ian Weissman	(212) 449-0335/6255
	Morgan Stanley Dean Witter	Matthew Ostrower / David Cohen	(212) 761-6284/8564
	Stifel Nicolaus	John Guinee / Eli Fleminger	(410) 454-5520/4830
	Wachovia Securities	Christopher Haley / Greg Korondi	(443) 263-6773/6579
	Canaccord Capital	Shant Poladian / Sandy Poklar	(416) 869-6595/3060
	CIBC World Markets	Rossa O’Reilly / Alex Avery	(416) 594-7296/8179
	Griffiths McBurney	Anoop Prihar / Dana Merber	(416) 943-6127/6674
	RBC Capital Markets	Neil Downey / Anil Jamani	(416) 842-7835/7897
	TD Newcrest	Sam Damiani / Mandy Samols	(416) 983-9640/4767


Stock Exchange Listing:		NYSE

Trading Symbol:		TRZ

Index Listings:		MSCI U.S. REIT Index
		S&P REIT Composite Index
		Wilshire REIT Index
		Russell 1000 Index

Dividend per share:

Amount

Declared

Record

Paid

Q2-05:

0.20

14-Jun

30-Jun

15-Jul

Q3-05:

0.20

13-Sep

30-Sep

17-Oct

Q4-05:

0.20

13-Dec

30-Dec

17-Jan

Q1-06:

0.20

9-Mar

31-Mar

17-Apr


Shares outstanding (March 31, 2006):			157,180,414

Total Market Cap ($ mil. at March 31, 2006):			6,656.8

Share Activity (NYSE):
Source: Bloomberg


									12 Months
									Ended
	Q2-05		Q3-05		Q4-05		Q1-06		3/31/2006


Share Prices:
High		20.61		23.73		23.14		26.39		26.39
Low		18.65		20.40		20.45		22.62		18.65
Close		20.57		23.06		22.92		25.73		25.73



Avg. Daily Vol. (000’s):		500		498		467		566		508


Investor Relations:	Dennis C. Fabro	Andrew Joa	Transfer Agent:	Mellon Investor Services LLC
	Senior Vice President, Investor Relations	Director, Investor Relations		Newport Office Center VII
	10 S. Riverside Plaza, Suite 1100	10 S. Riverside Plaza, Suite 1100		480 Washington Boulevard
	Chicago, IL 60606	Chicago, IL 60606		Jersey City, NJ 07310
	Tel: (312) 798-6290 Fax: (312) 798-6270	Tel: (312) 798-6295 Fax: (866) 784-8609		Toll Free: (800) 852-0037
	E-mail: dennis.fabro@trz.com	E-mail: andrew.joa@trz.com		E-mail: shrrelations@melloninvestor.com

Page 1

Financial Highlights

First Quarter 2006 ($000’s, except per share amounts)


	Three Months Ended
	31-Mar-06		31-Mar-05		% Change
Consolidated Property Revenues	$	184,405	$	171,273		8	%

Operating Expenses		63,025		56,287		12	%
Property Taxes		23,003		21,882		5	%

Consolidated Property Expenses	$	86,028	$	78,169		10	%

Consolidated Property Revenues Less Property Expenses	$	98,377	$	93,104		6	%

Property Revenues Less Property Expenses from Unconsolidated Joint Ventures (Pro rata)		15,023		13,566		11	%
Property Revenues Less Property Expenses from Discontinued Operations		2,341		13,419		-83	%

Total Property Revenues Less Property Expenses	$	115,741	$	120,089		-4	%


Net Income Available to Common Stockholders	$	44,933	$	25,287		78	%

Net Income Available to Common Stockholders per Weighted Average Common Share Outstanding
Basic	$	0.29	$	0.17		74	%

Diluted	$	0.28	$	0.16		72	%


Funds from Operations Available to Common Stockholders (FFO) ¹	$	65,883	$	69,813		-6	%

FFO per share
Basic	$	0.42	$	0.46		-8	%

Diluted	$	0.41	$	0.45		-9	%


Weighted Average Common Shares Outstanding:
Basic		156,691,554		153,090,527

Diluted		159,944,117		155,122,317


⁽¹⁾		FFO is a non-GAAP financial measure. See Appendix B for a reconciliation of FFO and FFO per share to net income available to common stockholders and net income available to common stockholders per share, the most directly comparable GAAP measures.

Page 2

Segmented Financial Information

First Quarter 2006 ($000’s)

(includes discontinued operations and Trizec’s pro rata share of unconsolidated real estate joint ventures)

Three Months Ended


																						Other			Total			Corporate
	Atlanta			Chicago			Dallas			Houston			Los Angeles			New York			Washington, D.C.			Markets			Office			& Other			Total
March 31, 2006

Property revenues	$	19,524			16,996			21,460			30,134			32,049			50,592			34,712			12,033			217,500			2,221		$	219,721
Property expenses		(8,146	)		(8,657	)		(12,268	)		(16,370	)		(13,964	)		(24,900	)		(12,897	)		(6,766	)		(103,968	)		(12	)		(103,980	)

Property revenues less property expenses	$	11,378			8,339			9,192			13,764			18,085			25,692			21,815			5,267			113,532			2,209		$	115,741


March 31, 2005

Property revenues	$	19,689			19,291			21,259			27,874			26,625			49,768			33,005			18,034			215,545			2,625		$	218,170
Property expenses		(8,314	)		(8,576	)		(11,318	)		(14,440	)		(11,463	)		(24,410	)		(12,327	)		(10,735	)		(101,583	)		3,502			(98,081	)

Property revenues less property expenses	$	11,375			10,715			9,941			13,434			15,162			25,358			20,678			7,299			113,962			6,127		$	120,089

Page 3

Consolidated Balance Sheet Information

First Quarter 2006

Real Estate

($000’s — As of March 31, 2006)


	Properties Held			Properties Held
	for the Long Term			for Disposition			Total

Rental properties	$	4,383,739		$	76,141		$	4,459,880
Properties held for development		24,430			—			24,430
Accumulated depreciation		(662,034	)		(12,755	)		(674,789	)

Real Estate, net	$	3,746,135		$	63,386		$	3,809,521


Rental Properties	Net Book Value


Held for the long term	$	3,721,705
Held for disposition¹		63,386

Total Rental Properties	$	3,785,091


Properties Held for Development	Net Book Value


Buckhead Land	$	12,796
Other		11,634

Total Properties Held for Development	$	24,430


(1)		Properties included in the “Held for disposition” category are listed on page 18 under the tables “Properties Designated as Discontinued Operations” but exclude properties that were disposed of during 2005 and 2006.

Other Assets and Investments

($000’s — As of March 31, 2006)


Cash and cash equivalents	$	41,473
Escrows and restricted cash		147,080
Investment in unconsolidated real estate joint ventures		146,406
Office tenant receivables, net		10,444
Deferred rent receivables, net		141,805
Other receivables, net		8,872
Deferred charges, net		138,451
Prepaid expenses and other assets, net		177,485

Total Other Assets and Investments	$	812,016

Other Liabilities

($000’s — As of March 31, 2006)


Trade, construction and tenant improvements payables	$	19,861
Accrued interest expense		6,576
Accrued operating expenses and property taxes		62,596
Other accrued liabilities		186,615
Dividends payable		32,170
Taxes payable		25,881

Total Other Liabilities	$	333,699

Page 4

Additional Financial Information

First Quarter 2006

Straight-Line Adjustment Summary

($000’s)


	Three Months Ended
	31-Mar-06			31-Mar-05

Continuing Operations	$	7,452		$	2,558
Discontinued Operations		(180	)		(143	)
Pro Rata Share of Unconsolidated JVs		793			723

Total	$	8,065		$	3,138

FAS 141 Impact on Rental Revenue Summary¹

($000’s)


	Three Months Ended
	31-Mar-06		31-Mar-05

Continuing Operations	$	1,269	$	703
Discontinued Operations		—		—
Pro Rata Share of Unconsolidated JVs		704		—

Total	$	1,973	$	703


¹		Represents net amortization of above-and-below market leases amortized over the terms of the respective leases in place at the property acquisition dates. This policy has been in effect for acquisitions since July 1, 2001. The unamortized portion of above market leases totaling $6.7 million is included in Prepaid expenses and other assets and the unamortized portion of below market leases totaling $70.4 million is included in Other accrued liabilities as of March 31, 2006 for consolidated properties.

Termination Fee Revenue Summary

($000’s)


	Three Months Ended
	31-Mar-06		31-Mar-05

Continuing Operations	$	556	$	2,086
Discontinued Operations		69		193
Pro Rata Share of Unconsolidated JVs		49		58

Total	$	674	$	2,337

Page 5

Same-Property Performance

First Quarter 2006

Same-Property¹ Revenues Less Expenses

($000’s)


	Three Months Ended
	31-Mar
							Change
	2006			2005			$			%

Including impact of straight-line rent

Property revenues excl. termination fees	$	200,413		$	196,121		$	4,292			2.2	%
Property expenses		(97,061	)		(93,520	)		(3,541	)		3.8	%


Property revenues excl. termination fees less property expenses	$	103,352		$	102,601		$	751			0.7	%


Excluding impact of straight-line rent

Property revenues excl. termination fees and impact of straight-line rent	$	193,047		$	192,396		$	651			0.3	%
Property expenses		(97,099	)		(93,055	)		(4,044	)		4.3	%


Property revenues excl. termination fees and impact of straight-line rent less property expenses	$	95,948		$	99,341		$	(3,393	)		-3.4	%

Same-Property¹ Occupancy


	31-Mar
	2006			2005			Change

Period End		88.1	%		88.5	%		-0.4	%

Average — Quarter		88.0	%		89.2	%		-1.2	%

No. of properties represented: 45


⁽¹⁾		Same-property performance includes all properties that were owned during the complete current and prior year reporting periods (including properties held for disposition and Trizec’s pro rata share of unconsolidated joint ventures). Development properties are not included in the same property portfolio until they have reached their stabilized occupancy for the complete current and prior year reporting periods.

Page 6

Unconsolidated Real Estate Joint Venture Financial Information

First Quarter 2006

Unconsolidated Real Estate Joint Venture Assets

(As of March 31, 2006)


	Property	Location	Ownership	Occupancy¹			Total Area		Owned Area

1.	Bank One Center	Dallas, TX	50%		80.0	%		1,531,000		765,000
2.	Plaza of the Americas	Dallas, TX	50%		68.6	%		1,176,000		588,000
3.	Kellogg Brown & Root Tower	Houston, TX	50%		84.6	%		1,048,000		524,000
4.	Marina Towers	Los Angeles, CA	50%		90.2	%		381,000		191,000
5.	The Grace Building	New York, NY	50%		99.1	%		1,518,000		758,000
6.	1411 Broadway	New York, NY	50%		94.4	%		1,146,000		572,000
7.	1460 Broadway	New York, NY	50%		100.0	%		215,000		107,000
8.	Victor Building	Washington, D.C.	50%		99.8	%		343,000		172,000
9.	Waterview development	Arlington, VA	25%		NA		NA		NA


	Total				87.0	%		7,358,000		3,677,000

Statement of Operations

($000’s)


	Three Months Ended March 31, 2006
	100%			TRZ ²
Property revenues	$	58,373		$	28,976
Expenses
Property expenses		27,702			13,953
Depreciation and amortization		9,986			5,959

Total expenses		37,688			19,912

Interest expense		(12,959	)		(6,474	)
Interest and other income		693			344

Net income	$	8,419		$	2,934

Property revenues less property expenses	$	30,671		$	15,023


(1)		Total occupancy as shown is weighted average based on owned area.

(2)		Represents Trizec’s pro rata share based on its ownership percentages in unconsolidated real estate joint ventures.

Page 7



		Unconsolidated Real Estate Joint Venture Financial Information


First Quarter 2006

Balance Sheets

($000’s — As of March 31, 2006)


	100%			TRZ¹
Assets
Real Estate
Rental properties		747,701			547,585
Properties held for development		94,334			23,438
Accumulated depreciation		(139,853	)		(90,460	)

Real Estate, net		702,182			480,563
Other Assets
Cash & restricted cash		79,480			39,701
Deferred rent receivables, net		63,871			28,724
Deferred charges, net		57,938			30,982
Other		58,676			23,080


Total Assets	$	962,147		$	603,050


Liabilities
Mortgage debt	$	1,000,589		$	483,061
Other Liabilities
Accrued operating expenses and property taxes		21,680			6,904
Trade, construction and TI payables		3,873			1,934
Other accrued liabilities		33,046			16,939

Partners’ equity		(97,041	)		146,406
Distributions in excess of investment in unconsolidated joint ventures		—			(52,194	)


Total Liabilities and Equity	$	962,147		$	603,050

Properties Under Development

($000’s — As of March 31, 2006)


		100%		TRZ¹
Waterview development	Arlington, VA	$	94,334	$	23,438

Mortgage and Other Debt Maturities ¹

($000’s — As of March 31, 2006)


			Weighted
	Amount		Average Rate
2006	$	53,274		4.52	%
2007		1,696		5.48	%
2008		4,018		5.51	%
2009		21,071		5.85	%
2010		4,805		5.52	%
Beyond		398,197		5.48	%

Total	$	483,061		5.39	%


⁽¹⁾		Represents Trizec’s pro rata share based on its ownership percentages in unconsolidated real estate joint ventures.

Page 8



		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations)


(As of March 31, 2006)		Based on Pro Rata Share of Owned Area


			Market Distribution					Occupancy						Gross Rent
	No. of		Owned Area¹		Period			Qtr
	Properties		000's sq. ft.		%			End			Average			In-Place ²		Market³
Core Markets
Atlanta		5		3,481		11	%		89.5	%		89.4	%	$	22.90	$	20.30
Chicago		4		2,434		7	%		85.8	%		86.9	%		29.10		27.30
Dallas		4		4,510		14	%		84.8	%		84.8	%		19.70		18.70
Houston		5		5,645		18	%		84.6	%		84.3	%		20.70		19.30
Los Angeles Area		5		4,340		14	%		83.3	%		86.3	%		29.90		31.80
New York Area		6		5,615		18	%		92.4	%		91.8	%		35.00		40.40
Washington D.C. Area		17		4,119		13	%		90.6	%		90.3	%		31.60		33.50



Total Core Markets		46		30,144		95	%		87.4	%		87.7	%	$	27.10	$	27.60


Total Other Markets		2		1,704		5	%		88.8	%		87.9	%	$	14.60	$	19.70


Total Office Properties		48		31,848		100	%		87.5	%		87.7	%	$	26.50	$	27.20

Based on Total Area


			Market Distribution					Occupancy						Gross Rent
	No. of		Total Area					Period			Qtr
	Properties		000's sq. ft.		%			End			Average			In-Place ²		Market ³
Consolidated Properties		40		28,182		79	%		87.5	%		87.7	%	$	25.70	$	26.10
Unconsolidated JV Properties		8		7,358		21	%		87.0	%		87.7	%		32.60		35.70


Total Office Properties		48		35,540		100	%		87.4	%		87.7	%	$	27.10	$	28.10


⁽¹⁾		For the purposes of this table and elsewhere in this report, “owned area” is the sum of the total square footage of all of our wholly-owned properties and our pro rata share of the square footage of our joint venture properties calculated based on our ownership interest in such joint ventures.

⁽²⁾		Represents average current in-place base rents, including expense reimbursements. Excludes straight-line rent.

⁽³⁾		Reflects management’s estimate of current market rent for similar quality space.

Page 9



		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations and Trizec’s pro rata share of unconsolidated real estate joint ventures)

Office Portfolio Leasing Activity ¹


	Three Months Ended
	31-Mar-06
	Owned Area			Total Area
New Leases		698,020			727,751
Renewals		1,335,124			1,356,281
Expiries		(2,315,129	)		(2,412,486	)

Net		(281,985	)		(328,454	)

Weighted-Avg. Term on new/renewal leasing (Yrs.)		10.2			10.2


Avg. Rental Rate on new/renewal leasing²	$	21.01		$	21.11
Avg. Rental Rate on expiring leases ²		24.31			24.40

Rental Rate Change on leasing ²		($3.30	)		($3.29	)

		-13.6	%		-13.5	%


⁽¹⁾		In square feet unless otherwise noted.

⁽²⁾		Per square foot, excludes straight-line rent.


	Three Months Ended
	31-Mar-06
	Consolidated		Unconsolidated		Total
Capital Expenditures:
Recurring	$	1,749	$	605	$	2,354
Non-Recurring		10,191		206		10,397

Total	$	11,940	$	811	$	12,751

Capital Expenditures Per Sq. Ft. Owned:
Recurring	$	0.06	$	0.16	$	0.07
Non-Recurring		0.36		0.06		0.33

Total	$	0.42	$	0.22	$	0.40

Tenant Installation Costs³:
Non-incremental revenue generating	$	28,767	$	436	$	29,203
Incremental revenue generating:
Space vacant > 12 months		9,252		149		9,401
Acquisitions and Developments		268		—		268

Total	$	38,287	$	585	$	38,872

Tenant Installation Costs Per Sq. Ft. Leased:
Non-incremental revenue generating	$	16.57	$	9.88	$	16.41
Incremental revenue generating		38.54		24.87		38.22

Total	$	19.31	$	11.68	$	19.12


⁽³⁾		Based on owned area and office leasing activity at Trizec’s pro rata share.

Page 10


		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations)

Scheduled Annual Expirations¹


(As of March 31, 2006)
Core Markets		2006			2007			2008			2009			2010			2011			2012			2013			2014			2015
Atlanta	sq. ft. 000's		234			506			366			402			314			571			239			76			99			130
	% of owned area		6.7	%		14.5	%		10.5	%		11.5	%		9.0	%		16.4	%		6.9	%		2.2	%		2.8	%		3.7	%
	Rate per sq. ft.	$	23.05		$	22.48		$	23.57		$	22.04		$	23.39		$	29.15		$	32.23		$	25.06		$	20.88		$	22.75

Chicago	sq. ft. 000's		239			65			41			6			209			262			78			132			191			98
	% of owned area		9.8	%		2.7	%		1.7	%		0.2	%		8.6	%		10.8	%		3.2	%		5.4	%		7.8	%		4.0	%
	Rate per sq. ft.		29.28			29.95			32.36			28.16			34.99			34.72			30.67			30.21			31.66			31.07

Dallas	sq. ft. 000's		231			658			178			301			507			204			254			635			340			157
	% of owned area		5.1	%		14.6	%		3.9	%		6.7	%		11.2	%		4.5	%		5.6	%		14.1	%		7.5	%		3.5	%
	Rate per sq. ft.		19.78			17.19			21.90			22.06			23.25			22.05			21.66			20.29			16.45			19.41

Houston	sq. ft. 000's		242			594			418			208			977			462			608			399			85			215
	% of owned area		4.3	%		10.5	%		7.4	%		3.7	%		17.3	%		8.2	%		10.8	%		7.1	%		1.5	%		3.8	%
	Rate per sq. ft.		21.59			20.56			22.93			23.45			20.16			22.97			25.03			17.93			21.29			20.78

Los Angeles Area	sq. ft. 000's		241			201			360			117			433			401			690			66			364			92
	% of owned area		5.6	%		4.6	%		8.3	%		2.7	%		10.0	%		9.2	%		15.9	%		1.5	%		8.4	%		2.1	%
	Rate per sq. ft.		31.52			29.12			30.85			30.53			31.73			21.73			34.91			40.75			33.91			32.59

New York Area	sq. ft. 000's		239			184			232			755			397			128			247			242			125			1,794
	% of owned area		4.3	%		3.3	%		4.1	%		13.4	%		7.1	%		2.3	%		4.4	%		4.3	%		2.2	%		32.0	%
	Rate per sq. ft.		38.32			39.11			42.57			31.75			36.59			53.32			46.67			50.25			44.80			32.22

Washington D.C. Area	sq. ft. 000's		260			616			444			502			244			122			427			113			297			145
	% of owned area		6.3	%		15.0	%		10.8	%		12.2	%		5.9	%		3.0	%		10.4	%		2.7	%		7.2	%		3.5	%
	Rate per sq. ft.		29.90			36.30			33.86			32.02			33.94			35.57			33.30			37.65			27.87			44.13

Total Core Markets	sq. ft. 000's		1,686			2,824			2,039			2,291			3,081			2,150			2,543			1,663			1,501			2,631
	% of owned area		5.6	%		9.4	%		6.8	%		7.6	%		10.2	%		7.1	%		8.4	%		5.5	%		5.0	%		8.7	%
	Rate per sq. ft.	$	27.71		$	25.59		$	29.16		$	28.01		$	26.84		$	28.25		$	31.71		$	27.08		$	27.81		$	30.68

Total Other Markets	sq. ft. 000's		35			78			259			93			129			55			2			125			8			0
	% of owned area		2.1	%		4.6	%		15.2	%		5.5	%		7.6	%		3.2	%		0.1	%		7.3	%		0.5	%		0.0	%
	Rate per sq. ft.	$	19.57		$	14.99		$	15.91		$	14.82		$	13.69		$	12.52		$	16.94		$	22.61		$	25.89		$	—

Total — Owned Area^2,3	sq. ft. 000's		1,721			2,902			2,298			2,384			3,210			2,205			2,545			1,788			1,509			2,631
	% of owned area		5.4	%		9.1	%		7.2	%		7.5	%		10.1	%		6.9	%		8.0	%		5.6	%		4.7	%		8.3	%
	Rate per sq. ft.	$	27.54		$	25.30		$	27.66		$	27.49		$	26.31		$	27.85		$	31.70		$	26.77		$	27.80		$	30.68



Consolidated Area	sq. ft. 000's		1,449			2,635			2,114			2,188			2,808			2,055			2,197			1,495			1,345			2,402
	% of total area		5.1	%		9.3	%		7.5	%		7.8	%		10.0	%		7.3	%		7.8	%		5.3	%		4.8	%		8.5	%
	Rate per sq. ft.	$	27.15		$	25.24		$	26.63		$	26.95		$	25.22		$	27.54		$	30.13		$	23.30		$	27.24		$	30.71

Unconsolidated JV Area⁴	sq. ft. 000's		544			537			370			394			808			300			705			589			328			459
	% of total area		7.4	%		7.3	%		5.0	%		5.4	%		11.0	%		4.1	%		9.6	%		8.0	%		4.5	%		6.2	%
	Rate per sq. ft.	$	29.61		$	25.95		$	39.50		$	33.50		$	33.96		$	32.36		$	41.59		$	44.43		$	32.47		$	30.32

Total Area⁵	sq. ft. 000's		1,993			3,172			2,484			2,582			3,616			2,355			2,902			2,084			1,673			2,861
	% of total area		5.6	%		8.9	%		7.0	%		7.3	%		10.2	%		6.6	%		8.2	%		5.9	%		4.7	%		8.1	%
	Rate per sq. ft.	$	27.82		$	25.36		$	28.55		$	27.95		$	27.17		$	28.15		$	32.91		$	29.27		$	28.27		$	30.65

⁽¹⁾		Expiring rental rates per sq. ft. represent base rents at time of expiry plus current expense reimbursements and exclude straight-line rent.

⁽²⁾		% of owned area expiring represents Trizec’s percentage in each respective market.

⁽³⁾		Includes Trizec’s pro rata share of unconsolidated real estate joint ventures.

⁽⁴⁾		Represents expiring area at 100% of unconsolidated real estate joint venture properties.

⁽⁵⁾		Represents expiring area at 100% of unconsolidated real estate joint ventures and consolidated properties.

Page 11


		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations)

Scheduled Quarterly Expirations¹



(As of March 31, 2006)
Core Markets		Q2-06			Q3-06			Q4-06			2006			Q1-07			Q2-07			Q3-07			Q4-07			2007
Atlanta	sq. ft. 000's		136			37			61			234			93			152			123			138			506
	% of owned area		3.9	%		1.1	%		1.8	%		6.7	%		2.7	%		4.4	%		3.5	%		4.0	%		14.5	%
	Rate per sq. ft.	$	23.48		$	21.21		$	23.21		$	23.05		$	20.66		$	24.92		$	21.13		$	22.24		$	22.48

Chicago	sq. ft. 000's		203			34			2			239			4			20			20			21			65
	% of owned area		8.3	%		1.4	%		0.1	%		9.8	%		0.2	%		0.8	%		0.8	%		0.9	%		2.7	%
	Rate per sq. ft.		28.15			35.67			35.85		$	29.28			21.90			21.61			37.29			32.44		$	29.95

Dallas	sq. ft. 000's		95			39			97			231			285			22			297			54			658
	% of owned area		2.1	%		0.9	%		2.2	%		5.1	%		6.3	%		0.5	%		6.6	%		1.2	%		14.6	%
	Rate per sq. ft.		18.03			22.32			20.48		$	19.78			18.58			18.03			16.24			14.76		$	17.19

Houston	sq. ft. 000's		184			29			29			242			109			307			130			48			594
	% of owned area		3.3	%		0.5	%		0.5	%		4.3	%		1.9	%		5.4	%		2.3	%		0.9	%		10.5	%
	Rate per sq. ft.		21.82			19.12			22.58		$	21.59			17.80			23.03			16.44			22.21		$	20.56

Los Angeles Area	sq. ft. 000's		12			123			106			241			50			27			78			46			201
	% of owned area		0.3	%		2.8	%		2.4	%		5.6	%		1.2	%		0.6	%		1.8	%		1.1	%		4.6	%
	Rate per sq. ft.		29.99			27.42			36.46		$	31.52			33.26			35.68			26.62			24.99		$	29.12

New York Area	sq. ft. 000's		177			13			49			239			84			59			17			24			184
	% of owned area		3.2	%		0.2	%		0.9	%		4.3	%		1.5	%		1.1	%		0.3	%		0.4	%		3.3	%
	Rate per sq. ft.		37.57			56.66			36.15		$	38.32			43.41			33.01			46.90			33.53		$	39.11

Washington D.C. Area	sq. ft. 000's		51			51			158			260			64			240			233			79			616
	% of owned area		1.2	%		1.2	%		3.8	%		6.3	%		1.6	%		5.8	%		5.7	%		1.9	%		15.0	%
	Rate per sq. ft.		27.18			32.13			30.05		$	29.90			31.37			35.73			37.89			37.31		$	36.30

Total Core Markets	sq. ft. 000's		858			326			502			1,686			689			827			898			410			2,824
	% of owned area		2.8	%		1.1	%		1.7	%		5.6	%		2.3	%		2.7	%		3.0	%		1.4	%		9.4	%
	Rate per sq. ft.	$	26.84		$	28.13		$	28.91		$	27.71		$	24.04		$	28.02		$	24.51		$	25.65		$	25.59

Total Other Markets	sq. ft. 000's		23			12			0			35			27			9			13			29			78
	% of owned area		1.3	%		0.7	%		0.0	%		2.1	%		1.6	%		0.5	%		0.8	%		1.7	%		4.6	%
	Rate per sq. ft.	$	20.72		$	17.38		$	—		$	19.57		$	16.99		$	17.67		$	22.33		$	9.01		$	14.99

Total — Owned Area^2,3	sq. ft. 000's		881			338			502			1,721			716			836			911			439			2,902
	% of owned area		2.8	%		1.1	%		1.6	%		5.4	%		2.2	%		2.6	%		2.9	%		1.4	%		9.1	%
	Rate per sq. ft.	$	26.68		$	27.75		$	28.91		$	27.54		$	23.77		$	27.91		$	24.48		$	24.55		$	25.30



Consolidated Area	sq. ft. 000's		801			318			330			1,449			640			814			758			423			2,635
	% of total area		2.8	%		1.1	%		1.2	%		5.1	%		2.3	%		2.9	%		2.7	%		1.5	%		9.3	%
	Rate per sq. ft.	$	25.97		$	26.86		$	30.31		$	27.15		$	21.91		$	28.02		$	25.51		$	24.46		$	25.24

Unconsolidated JV Area⁴	sq. ft. 000's		160			38			346			544			151			44			309			33			537
	% of total area		2.2	%		0.5	%		4.7	%		7.4	%		2.1	%		0.6	%		4.2	%		0.4	%		7.3	%
	Rate per sq. ft.		33.79		$	42.82		$	26.23		$	29.61		$	39.53		$	24.06		$	19.46		$	27.03		$	25.95

Total Area⁵	sq. ft. 000's		961			356			676			1,993			791			858			1,067			456			3,172
	% of total area		2.7	%		1.0	%		1.9	%		5.6	%		2.2	%		2.4	%		3.0	%		1.3	%		8.9	%
	Rate per sq. ft.	$	27.27		$	28.56		$	28.22		$	27.82		$	25.27		$	27.82		$	23.76		$	24.65		$	25.36

⁽¹⁾		Expiring rental rates per sq. ft. represent base rents at time of expiry plus current expense reimbursements and exclude straight-line rent.

⁽²⁾		% of owned area expiring represents Trizec’s percentage in each respective market.

⁽³⁾		Includes Trizec’s pro rata share of unconsolidated real estate joint ventures.

⁽⁴⁾		Represents expiring area at 100% of unconsolidated real estate joint venture properties.

⁽⁵⁾		Represents expiring area at 100% of unconsolidated real estate joint ventures and consolidated properties.

Page 12


		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations and Trizec’s pro rata share of unconsolidated real estate joint ventures)

Market Distribution¹


	Three Months Ended
	31-Mar-06
Core Markets:
Atlanta		10	%
Chicago		7	%
Dallas		8	%
Houston		12	%
Los Angeles Area		16	%
New York Area		23	%
Washington D.C. Area		19	%

Total Core Markets		95	%

Total Other Markets		5	%

Total		100	%


(1)		Based on property revenues less property expenses.

Top 10 Assets

(As of March 31, 2006)


		% of Owned			% of Net
		Area			Rent¹

One New York Plaza	New York, NY		8	%		9	%
Allen Center	Houston, TX		10	%		8	%
Bank of America Plaza	Los Angeles, CA		4	%		6	%
The Grace Building (50%)	New York, NY		2	%		5	%
Ernst & Young Plaza	Los Angeles, CA		4	%		4	%
Galleria Towers	Dallas, TX		4	%		3	%
Figueroa at Wilshire	Los Angeles, CA		3	%		3	%
Bank of America Plaza	Charlotte, NC		3	%		3	%
Newport Tower	Jersey City, NJ		3	%		3	%
1411 Broadway (50%)	New York, NY		2	%		3	%


(1)		Based on property revenues excluding termination fees less property expenses.

Page 13


		Office Portfolio Analysis


First Quarter 2006		(Includes discontinued operations and Trizec’s pro rata share of unconsolidated real estate joint ventures)

Tenant Mix by Industry

(As of March 31, 2006)


Industry	% of Owned Area

Banking / Securities Brokers		19	%
Legal Services		13	%
Oil and Gas		7	%
Computers / Communications		6	%
Misc. Business Services		6	%
Wholesalers / Retailers		5	%
Insurance / Non Bank Financial		5	%
Government		4	%
Accounting		4	%
Engineering and Architectural		3	%


Number of tenants:		1,790

Average remaining lease term (years):		6.1

Top 20 Tenants

(As of March 31, 2006)


	% of Owned			% of Gross
Tenant	Area			Rent¹

Wachovia Securities Financial Holdings		4.5	%		6.1	%
GSA		2.5	%		3.5	%
The Goldman Sachs Group		1.8	%		2.6	%
Continental Airlines		2.3	%		2.2	%
Bank of America		2.5	%		2.0	%
Ernst & Young		1.1	%		1.9	%
Fried, Frank, Harris		1.2	%		1.8	%
Devon Energy Corporation		1.6	%		1.8	%
The Capital Group Corporation		1.0	%		1.5	%
Kellogg Brown & Root Inc.		1.6	%		1.2	%
JP Morgan Chase		0.9	%		1.2	%
Jones Apparel Group Inc.		0.6	%		1.1	%
Time Warner		0.5	%		1.1	%
Amerada Hess Corporation		1.0	%		1.1	%
Merrill Lynch Corporation		0.9	%		1.1	%
Wells Fargo Bank, N.A.		1.5	%		0.9	%
KPMG LLP		0.5	%		0.9	%
S1 Corporation		0.6	%		0.8	%
Smithsonian Institution		0.5	%		0.8	%
Sheppard, Mullin, Richter		0.5	%		0.8	%


⁽¹⁾		Represents current in-place base rents, including expense reimbursements. Excludes straight-line rent.

Lease Stratification

(As of March 31, 2006)


	Occupied		% of Total			No. of		% of Total No.
Lease Size (sq. ft.)	Area¹		Occupied Area			Leases²		of Leases

0-2,500		943,000		3.0	%		838		40.1	%
2,501-5,000		1,356,000		4.4	%		373		17.8	%
5,001-10,000		2,447,000		7.9	%		342		16.4	%
10,001-25,000		4,350,000		14.0	%		279		13.4	%
25,001-50,000		4,857,000		15.7	%		144		6.9	%
50,001-100,000		4,249,000		13.7	%		61		2.9	%
100,001 +		12,796,000		41.3	%		53		2.5	%

Total		30,998,000		100.0	%		2,090		100.0	%


⁽¹⁾		Based on total area.

⁽²⁾		Represents number of leases in each lease size category, not number of tenants, as some tenants operate under multiple leases.

Page 14


		Property Listing


First Quarter 2006

Property Listing

(As of March 31, 2006)


		Total Area		Owned Area
Name (Ownership) ¹	Location	(sq. ft.)		(sq. ft.)		Occupancy ^2,3

Atlanta
Interstate North Parkway	Atlanta, GA		955,000		955,000		93.4	%
Colony Square	Atlanta, GA		837,000		837,000		87.8	%
The Palisades	Atlanta, GA		627,000		627,000		78.2	%
One Alliance Center	Atlanta, GA		558,000		558,000		99.9	%
Midtown Plaza	Atlanta, GA		504,000		504,000		87.6	%

Total — Atlanta	(5 properties)		3,481,000		3,481,000		89.5	%

Chicago
Two North LaSalle	Chicago, IL		692,000		692,000		94.2	%
10 South Riverside	Chicago, IL		685,000		685,000		90.6	%
120 South Riverside	Chicago, IL		685,000		685,000		80.9	%
550 West Washington	Chicago, IL		372,000		372,000		70.1	%

Total — Chicago	(4 properties)		2,434,000		2,434,000		85.8	%

Dallas
Renaissance Tower	Dallas, TX		1,739,000		1,739,000		86.3	%
Bank One Center (50%)	Dallas, TX		1,531,000		765,000		80.0	%
Galleria Towers I, II and III	Dallas, TX		1,418,000		1,418,000		92.2	%
Plaza of the Americas (50%)	Dallas, TX		1,176,000		588,000		68.6	%

Total — Dallas	(4 properties)		5,864,000		4,510,000		84.8	%

Houston
Allen Center	Houston, TX		3,184,000		3,184,000		89.4	%
Cullen Center
Continental Center I	Houston, TX		1,098,000		1,098,000		72.5	%
Continental Center II	Houston, TX		449,000		449,000		86.8	%
Kellogg Brown & Root Tower (50%)	Houston, TX		1,048,000		524,000		84.6	%
500 Jefferson	Houston, TX		390,000		390,000		77.9	%

Total — Houston	(5 properties)		6,169,000		5,645,000		84.6	%

Los Angeles Area
Bank of America Plaza	Los Angeles, CA		1,422,000		1,422,000		96.1	%
Ernst & Young Plaza	Los Angeles, CA		1,245,000		1,245,000		85.5	%
Figueroa at Wilshire	Los Angeles, CA		1,039,000		1,039,000		61.5	%
Marina Towers (50%)	Los Angeles, CA		381,000		191,000		90.2	%
Landmark Square	Long Beach, CA		443,000		443,000		83.9	%

Total — Los Angeles Area	(5 properties)		4,530,000		4,340,000		83.3	%

New York Area
One New York Plaza	New York, NY		2,458,000		2,458,000		97.2	%
The Grace Building (50%)	New York, NY		1,518,000		758,000		99.1	%
1411 Broadway (50%)	New York, NY		1,146,000		572,000		94.4	%
1065 Ave. of the Americas (99%)	New York, NY		665,000		659,000		90.4	%
1460 Broadway (50%)	New York, NY		215,000		107,000		100.0	%
Newport Tower	Jersey City, NJ		1,061,000		1,061,000		76.2	%

Total — New York Area	(6 properties)		7,063,000		5,615,000		92.4	%

Washington, D.C. Area
1200 K Street, N.W.	Washington, D.C.		389,000		389,000		98.4	%
2000 L Street, N.W.	Washington, D.C.		383,000		383,000		98.6	%
Victor Building (50%)	Washington, D.C.		343,000		172,000		99.8	%
2001 M Street (98%)	Washington, D.C.		229,000		224,000		100.0	%
1225 Connecticut, N.W.	Washington, D.C.		217,000		217,000		98.0	%
1400 K Street, N.W.	Washington, D.C.		189,000		189,000		97.0	%
1250 Connecticut, N.W.	Washington, D.C.		172,000		172,000		93.6	%
1250 23rd Street, N.W.	Washington, D.C.		116,000		116,000		100.0	%
2401 Pennsylvania	Washington, D.C.		77,000		77,000		93.6	%

Washington, D.C.	(9 properties)		2,115,000		1,939,000		98.0	%

Bethesda Crescent	Bethesda, MD		269,000		269,000		87.7	%
Silver Spring Metro Plaza	Silver Spring, MD		688,000		688,000		97.6	%

Suburban Maryland	(2 properties)		957,000		957,000		94.8	%

Two Ballston Plaza	Arlington, VA		223,000		223,000		99.9	%
1550 Wilson Boulevard	Arlington, VA		136,000		136,000		83.9	%
1560 Wilson Boulevard	Arlington, VA		126,000		126,000		69.6	%
12010 Sunrise Valley Drive	Reston, VA		238,000		238,000		0.0	%
One Reston Crescent	Reston, VA		185,000		185,000		100.0	%
Sunrise Tech Park	Reston, VA		315,000		315,000		100.0	%

Northern Virginia	(6 properties)		1,223,000		1,223,000		75.6	%


Total — Washington, D.C. Area	(17 properties)		4,295,000		4,119,000		90.6	%


Total — Core Markets	(46 properties)		33,836,000		30,144,000		87.4	%

Other Markets
Bank of America Plaza	Charlotte, NC		891,000		891,000		99.3	%
Northstar Center	Minneapolis, MN		813,000		813,000		77.4	%

Total — Other Markets	(2 properties)		1,704,000		1,704,000		88.8	%


Total — Office Properties	(48 properties)		35,540,000		31,848,000		87.5	%


⁽¹⁾		The economic interest of Trizec’s owning entity is 100% unless otherwise noted.

⁽²⁾		Total occupancy as shown is weighted average based on owned area.

⁽³⁾		Occupancy based on total area at March 31, 2006 was 87.4%, with consolidated properties at 87.5% and unconsolidated real estate joint venture properties at 87.0%.

Page 15


		Mortgage Debt and Other Loans


First Quarter 2006		(Excluding Trizec’s pro rata share of unconsolidated real estate joint ventures)



Consolidated Mortgage Debt and Other Loans		(As of March 31, 2006)


($000’s)	Weighted average			Weighted average			Outstanding
	term to maturity			interest rates			balance

Collateralized Property Loans
At fixed rates		5.8	yrs		5.98	%	$	1,993,372
At variable rates		—			—			—

Total		5.8	yrs		5.98	%	$	1,993,372

Other Loans
At fixed rates		5.1	yrs		6.57	%	$	16,118
At variable rates		—			—			—

Total		5.1	yrs		6.57	%	$	16,118

Unsecured Credit Facility ¹		2.6	yrs		6.09	%	$	120,000

Total		5.6	yrs		5.99	%	$	2,129,490


(1)		$630 million undrawn on current availability of $750 million. Unsecured credit facility commitment totals $750 million.



Consolidated Mortgage Debt and Other Loan Maturities		(As of March 31, 2006)


($000’s)
	2006			2007			2008			2009			2010			Beyond			Total

Total maturities	$	148,893			77,833			522,992			20,572			112,189			1,247,011		$	2,129,490


Average rate:		6.79	%		6.13	%		6.40	%		5.53	%		5.11	%		5.81	%		5.99	%


(a) Interest Coverage	2.6	x
(b) Fixed Charge Coverage	2.3	x
(c) Debt to Total Book Capitalization	50	%

Financial Ratio Definitions:


(a)		Operating income plus depreciation and amortization, divided by interest expense.

(b)		Operating income plus depreciation and amortization, divided by interest expense plus regular amortizations and special dividends.

(c)		Mortgage debt and other loans divided by mortgage debt and other loans plus stockholders’ equity.

Page 16


		Mortgage Debt and Other Loans


First Quarter 2006


				Maturity	Current
Property/(ownership)¹	F/V ²			Date	Rate			Principal Balance			Term to Maturity

(As of March 31, 2006)									($000’s	)	(Years)

Consolidated Debt

CMBS Transaction
Class A-2		F		May-11		6.09	%	$	45,393			5.1
Class A-3 FL		V		Mar-08		5.13	%		75,821			2.0
Class A-3		F		Mar-08		6.21	%		78,900			2.0
Class A-4		F		May-11		6.53	%		240,600			5.1
Class B-3 FL		V		Mar-08		5.28	%		13,934			2.0
Class B-3		F		Mar-08		6.36	%		14,500			2.0
Class B-4		F		May-11		6.72	%		47,000			5.1
Class C-3		F		Mar-08		6.52	%		101,400			2.0
Class C-4		F		May-11		6.89	%		45,600			5.1
Class D-3		F		Mar-08		6.94	%		106,100			2.0
Class D-4		F		May-11		7.28	%		40,700			5.1
Class E-3		F		Mar-08		7.25	%		73,300			2.0
Class E-4		F		May-11		7.60	%		32,300			5.1

	Pre-swap:					6.55	%	$	915,548			3.5
	Post-swap³:					6.63	%	$	915,548			3.5

Renaissance Tower		F		Jan-10		4.98	%		91,666			3.8
Ernst & Young Plaza		F		Feb-14		5.07	%		116,271			7.8
One New York Plaza		F		Mar-16		5.50	%		400,000			9.9
2000 L Street, N.W.		F		Aug-07		6.26	%		56,100			1.3
2001 M Street (98%)		F		Dec-14		5.25	%		44,500			8.7
Bethesda Crescent		F		Jan-08		7.10	%		31,675			1.8
Bethesda Crescent		F		Jan-08		6.70	%		2,625			1.8
Two Ballston Plaza		F		Jun-08		6.91	%		25,925			2.2
Bank of America Plaza (Los Angeles)		F		Sep-14		5.31	%		242,000			8.4
One Alliance Center		F		Jul-13		4.78	%		67,062			7.3
Unsecured Credit Facility		V	⁴	Oct-08		6.09	%		120,000			2.6
Other — Fixed		F		May-11		6.57	%		16,118			5.1


Total Consolidated Debt						5.99	%	$	2,129,490			5.6


				Maturity	Current
Property/(ownership)¹	F/V ²			Date	Rate			Principal Balance			Term to Maturity

(As of March 31, 2006)									($000’s	)	(Years)

Unconsolidated Joint Venture Mortgage Debt

Bank One Center (50%)		V		Dec-06		4.52	%		53,153			0.7
The Grace Building (50%)		F		Jul-14		5.54	%		190,119			8.3
1411 Broadway (50%)		F		Jul-14		5.50	%		109,281			8.3
1460 Broadway (50%)		F		Nov-12		5.11	%		12,401			6.6
Plaza of the Americas (50%)		F		Jul-11		5.12	%		34,000			5.3
Waterview (25%)		V	⁵	Aug-09		5.93	%		16,608			3.4
Marina Towers (50%)		F		Apr-16		5.84	%		20,000			10.0
Victor Building (50%)		F		Feb-16		5.39	%		47,499			9.9


Total Unconsolidated Joint Venture Mortgage Debt						5.39	%	$	483,061			7.3



Total Mortgage and Other Debt						5.88	%	$	2,612,551			5.9


⁽¹⁾		The economic interest of Trizec’s owning entity in the associated asset is 100% unless otherwise noted.

⁽²⁾		“F” refers to fixed rate debt, “V” refers to variable rate debt. References to “V” represent the underlying loan, some of which have been fixed through hedging instruments.

⁽³⁾		$89.8 million of the 7-year floating rate tranche of the CMBS loan has been swapped from one-month LIBOR plus various spreads to 5.98% fixed rate.

⁽⁴⁾		Reflects notional allocation of $60.2 million of the floating rate unsecured credit facility debt that has been swapped from one-month LIBOR plus spread to 6.57% fixed rate.

⁽⁵⁾		$15.0 million of the floating rate construction loan has been swapped from one-month LIBOR plus spread to 5.88% fixed rate.

Page 17


		Discontinued Operations

First Quarter 2006

Properties Designated as Discontinued Operations


During the three months ended March 31, 2006
Property	Location	Date Sold



None designated through March 31, 2006

Properties Designated as Discontinued Operations


During the twelve months ended December 31, 2005
Property	Location	Date Sold


Metropolitan Square	St. Louis, MO	29-Jul-05
Watergate Office Building	Washington, DC	7-Oct-05
Twinbrook Metro Plaza	Rockville, MD	18-Oct-05
Beaumeade Corporate Park	Ashburn, VA	18-Oct-05
First Citizens Plaza	Charlotte, NC	10-Mar-06
Northstar Center	Minneapolis, MN	—

Statement of Operations ¹


	Three Months Ended
($000's)	31-Mar-06		31-Mar-05
Property revenues	$	6,339	$	20,869

Expenses
Property expenses		3,998		7,450
Depreciation and amortization		—		3,359

Total expenses	$	3,998	$	10,809


Interest expense		—		(2,307	)
Interest and other income		29		277
Income and other taxes		427		—

Gain on disposition of discontinued real estate		31,557		207



Net income	$	34,354	$	8,237



Property revenues less property expenses	$	2,341	$	13,419


⁽¹⁾		Williams Center I & II is included in Discontinued Operations for the three months ended March 31, 2006 and 2005 as it was designated in June 2004 and not sold until January 2006.

Page 18

2006 Disposition Summary

First Quarter 2006

Dispositions

Total

Owned

Gross

Property

Sale

Closing

Property

Location

Area

Proceeds ¹

Debt

Proceeds

Date

(sq. ft.)

($ mil.)

Williams Center I & II

Tulsa, OK

770,000

42.5

—

42.5

9-Jan-06

First Citizens Plaza

Charlotte, NC

477,000

77.3

—

77.3

10-Mar-06

Total Dispositions

1,247,000

119.8

$—

119.8

⁽¹⁾ Gross proceeds before selling costs or any other adjustments

Page 19

Appendix A

First Quarter 2006

Trizec Properties, Inc.
Financial Information

(See the Financial Information included in Exhibit 99.1 to this Form 8-K.)

Page 20

TRIZEC PROPERTIES INC 8-K