Exhibit 99.3

CarrAmerica Realty Corporation

For the quarter ended March 31, 2005

Supplemental Quarterly Call Reconciliations - Exhibit 99.3

Debt Plus Preferred Stock to Market Capitalization Percentage Calculation
(In thousands, except ratio)
Market value of common equity	$	1,905,904
Preferred equity		201,250
Total Debt (less discount/swap)		1,943,660
Total Market Capitalization	$	4,050,814
Preferred equity	$	201,250
Total Debt (less discount/swap)		1,943,660
Debt plus Preferred Stock	$	2,144,910
Debt plus Preferred to Market Capitalization		53.0	%

Projected Funds Available for Distribution Coverage 2005
(In millions, except ratios)		Forecast 2005
Net income		$113-125
Adjustments:	Minority interest	8
	FFO allocable to the minority Unitholders	(14)
	Depreciation and amortization—REIT properties	130
	Depreciation and amortization—Equity properties	18
	Minority interests' (non Unitholders) share of depreciation, amortization and net income	(1)
	(Gain) loss on sale of properties	(92)
FFO as defined by NAREIT		162-174
Less:	Preferred dividends, dividends on unvested restricted stock	(15)
FFO attributable to common shareholders		147-159
FFO allocable to the minority Unitholders		14
Diluted FFO available to common shareholders(1)		$161-173
Less:	Lease commissions/Tenant improvements	(70-80)
	Building capital additions	(9-12)
	Above/below market leases	7-9
	Impairment losses	4
	Straight line rent	(13-15)
Funds available for distribution to common shareholders(2)(3)		$65-94
	Dividends and distributions	$118-122
	Funds Available for Distribution Coverage	.5x-.8x
Adjusted funds available for distribution to common shareholders excluding approximately $26 million for a lease in Washington, DC (3)		$91-120
	Adjusted Funds Available for Distribution Coverage	.75x-1.0x
1    Diluted funds from operations is computed as FFO attributable to common shareholders adjusted to reflect all operating partnership units as if they were converted to common shares for any period in which they are not antidilutive. 2    Adjustments to arrive at FAD do not include amounts associated with properties in unconsolidated entities. 3    Amounts in 2005 include the impact of Dickstein Shapiro lease in Washington, D.C. which represents an approximate $26 million reduction of Funds Available for Distribution to common shareholders.