X0202 4 2004-09-14 0 0000921112 LIBERTY PROPERTY TRUST LRY 0001248366 DENNY JOSEPH P C/O LIBERTY PROPERTY TRUST 65 VALLEY STREAM PARKWAY MALVERN PA 19355 0 1 0 0 Dir. of Strategic Initiatives Common Shares of Beneficial Interest ($0.001 par value) 2004-09-14 5 G 0 E 25 0.00 A 281627 D Includes 260,250 Common Shares issuable upon exchange of limited partnership interests of Liberty Property Limited Partnership. Also includes 4,719 restricted shares and 1,615 shares acquired by the reporting person's election to receive common shares in lieu of cash for all or part of annual performance bonus compensation. Joseph P. Denny by James J. Bowes as Attorney-in-Fact 2004-09-15