X0201 4/A 2004-04-15 2004-04-19 0 0000906113 KEYSTONE PROPERTY TRUST KTR 0001197245 LEE CHARLES C JR C/O KEYSTONE PROPERTY TRUST 200 FOUR FALLS SUITE 208 W. CONSHOHOCKEN PA 19428 0 1 0 0 Senior Vice President Common Shares 2004-04-15 4 A 0 6967 A 57595 D Options 16.50 2008-01-12 Common Shares 37500 37500 D Options 14.50 2008-12-31 Common Shares 50000 50000 D Options 12.83 2011-04-16 Common Shares 50250 50250 D Units of LP Interest in Keystone Operating Ptship. Common Shares 14598 D Award of restricted shares as compensation. Options to purchase 37,500 Common Shares were granted on 1/12/98. Twenty percent (20%) of these options became exercisable on 12/31/00, and an additional forty percent (40%) of the options became exercisable on each of 12/31/01 and 12/31/02. Options to purchase 50,000 Common Shares were granted on 12/31/98. One-third (1/3) of these options became exercisable on each of 12/31/99, 12/31/00 and 12/31/01. Options to purchase 50,250 Common Shares were granted on 4/16/01. One-third (1/3) of these options became exercisable on each of 4/16/02 and 4/16/03, and an additional one-third (1/3) of the options become exercisable on 4/16/04. OP Units are convertible at a 1:1 ratio upon the exercise of the Conversion Right which can be exercised at any time. Saul A. Behar, by power of attorney 2004-04-21