Prepared and filed by St Ives Financial

Filed by Brandywine Realty Trust pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 Under the Securities Exchange Act of 1934 Subject Company: Prentiss Properties Trust Commission File No.:1-14516

This filing relates to a proposed acquisition (the “Acquisition”) by Brandywine Realty Trust (“Brandywine”) of Prentiss Properties Trust (“Prentiss”) pursuant to the terms of an Agreement and Plan of Merger, dated as of October3, 2005 (the “Merger Agreement”), by and among Brandywine and Prentiss. The Merger Agreement is on file with the Securities and Exchange Commission (the “Commission”) as an exhibit to the Current Report on Form 8-K filed by Brandywine on October 3, 2005. The Merger Agreement is incorporated by reference into this filing.

The following is an analysis presented as additional information by Brandywine on October 28, 2005 regarding the Acquisition and related matters.

 

Prentiss Acquisition
Benefits Comparison Analysis

PLAN/PROGRAM                PRENTISS    BRANDYWINE    TRANSITION INFORMATION 
WELFARE PLANS       
           
Eligibility    1st of month after 30 days 
Full time = 30 hours 		  1st of month after 30 days 
Full time = 40 hours  		  Eligibility for medical, dental and vision the same Life, LTD: Brandywine eligibility 1st of the month after 60 days 
     
      No break in coverage after transition 
             
Prentiss years of service will be treated as Brandywine years of service for benefits eligibility    Prentiss plans will continue until the 2nd Quarter of 2006, when a new plan design will be rolled out to all employees. 
             
      No pre-existing conditions limitations 
             
      2006 deductibles paid will count towards new plan 
             
      Goal is to maintain physician coverage as close as possible to what both  Brandywine and Prentiss have now 
             
      For future update: PT eligiblilty 
Medical       
   Carrier/Model    CIGNA: PPO and POS Plans    Blue Cross: PPO and POS Plans    Both plans have PPO and POS models 
             
   Pay Philosophy    Contribution varies by pay level - lower paid  employees pay less    All employees pay the same rates    Both plans have pre-tax contributions 
           
   Coverage Level    Similar premiums for POS; much lower for PPO; 
Higher office co-pays, deductibles, Rx  		  Higher premiums for PPO; lower co-pays,  deductibles, Rx    For future update: new combined plan design 
             
  Prescriptions included (mail order discount)    Prescriptions included (mail order POS only)    Both plans have prescription coverage 
           
   Funding    Self funded up to $125,000/claim    Fully insured   
Dental       
   Carrier/Model    CIGNA: PPO plan    Fortis: PPO plan    Similar plan model with higher in-network reimbursement 
             
   Pay Philosophy    Employer 70%; Employee 30%    Employer 70%; Employee 30%    Similar employee cost sharing 
             
   Coverage Level    Preventive, Basic, Major, Orthodontia    Preventive, Basic, Major, Orthodontia    Similar coverage 
           
   Funding    Self-funded    Self-funded   
   Vision    VSP Plan    Opti-Choice Plan    Brandywine coverage slightly less, lower co-pays 

 
Prentiss Acquisition
Benefits Comparison Analysis
 
PLAN/PROGRAM   PRENTISS   BRANDYWINE   TRANSITION INFORMATION
WELFARE PLANS (Cont.)             
           
Group Life Insurance             
   Carrier/Model   Prudential Insurance    Hartford Insurance    Benefit is fully paid by the company for both plans. 
           
   Pay Philosophy   100% Employer Paid    100% Employer Paid     
             
   Coverage Level   1 x base salary    $50,000    For future update: Resolution of coverage differences 
Supplemental Group Life            
   Carrier/Model   Prudential Insurance    Hartford Insurance    A supplemental plan will be available in the new plan design. 
    Supplemental Life available at cost    Supplemental Life available at cost     
            Employees on LTD will continue to be covered 
Long Term Disability            
   Carrier/Model   CIGNA    Hartford    BDN employees do not pay for LTD; however, the benefit is taxable when received. 
    Benefit commences 91st day    Benefit commences 91st day     
   Pay Philosophy   100% Employee Paid    100% Employer Paid     
           
   Coverage Level   60% of base salary to $5,000/mo maximum    60% of base salary to $6,000/mo. maximum     
             
    Supplemental plan for higher paid    No plan available    For future update: Brandywine will review addition of supplemental plan at employee cost 
Short Term Disability            
   Carrier/Model   CIGNA - self insured    Company administered - self insured    Brandywine currently administers STD in house. 
           
   Pay Philosophy   100% Employer Paid    100% Employer Paid    Benefit is company paid and covers 12 weeks of disability 
           
   Coverage Level   60% - 100%, depending on length of service    60% - 100%, depending on length of service    Brandywine 60% 1st year (after 60 days) 
              80% 2- 4 years 
              100% 5 years 
Sick Days            
   Coverage Level   5 days, plus carryover, if available, for qualifying disability    6 days, plus carryover, if available    Brandywine allows carryover of up to 4 days; maximum accumulation 10 days 
Flex Plan   Dependent Care $5,000   Dependent Care $5,000   Dependent Care Spending Account same
Pre-Tax Spending Accounts            
    Health Care $5,000    Health Care $2,000    Brandywine Health Care Spending cap is different. For future update.

 
Prentiss Acquisition
Benefits Comparison Analysis
 
PLAN/PROGRAM PRENTISS   BRANDYWINE   TRANSITION INFORMATION
            We both pay semi-monthly and current to pay date, 
Payroll    Semi-Monthly, 15th & last day of month    Semi-Monthly, 15th & last day of month    except overtime, part-time 
    Pay is current, Overtime in following pay    Pay is current, Overtime in following pay     
    Direct Deposit      Direct Deposit      Both companies have direct deposit 
    ADP      ADP      Same pay system 
Vacations    Anniversary Date Accrual      Calendar Year Accrual      Prentiss service will count towards vacation earned under Brandywine's policy 
                 
       less than 1 year = 1 week    On payroll January 1:      If Prentiss employee has vacation scheduled for 2006, can take it 
       1 - 5 years = 2 weeks       up to 5th anniversary = 2 weeks    
       5 - 9 years = 3 weeks       5 - 9 years = 3 weeks     
       10 - 25 years = 4 weeks       10 + years  = 4 weeks     
       25+ years = 5 weeks           
                 
          No rollover year to year   No rollover year to year   For future update: Vacations will convert to calendar year accrual. You can take vacation starting on January 1, although you earn it monthly throughout the year 
Holidays    8 days plus 2 floating days    8 days plus 2 personal days    Similar holiday schedules 
Employee Assistance Plan    Available 24/7 for confidential assistance/counseling    Available 24/7 for confidential assistance/counseling    Brandywine offers the same type of confidential benefit to you and your dependents

Other Benefits to be discussed in future
bulletin:

*Education Reimbursement
*Prepaid Legal Plan
*529 Plan
*Nissan/Infinity Vehicle Purchase Plan
*Brandywine Scholarship Program
*Matching of charitable gifts

 
   

Prentiss Acquisition
Benefits Comparison Analysis

PLAN/PROGRAM   PRENTISS   BRANDYWINE   TRANSITION INFORMATION
RETIREMENT PLANS            
  Carrier   Merrill Lynch   John Hancock/ManuLife   Will look at merged plan in 2006
              For future update: timing of transition
               
  Available Funds   14 with lifestyle funds   81 with lifestyle funds    
               
  Eligibility   1st of Quarter after 1 year   1st of Quarter after 60 days   For future update: timing of entry per ERISA rules
               
  Match   25% up to 6% of salary   30% up to 10% of salary   For future update: timing of match per ERISA rules
               
  Profit Sharing   Plan allows; no recent contributions   Profit sharing 2 - 3% over past few years   Although this is discretionary, this Brandywine benefit is in addition to the match
             
  Vesting   immediate, upon entry   graduated over 3 years   Prentiss employees will be fully vested in Prentiss carryover account
              Past service will count for vesting in Brandywine plan
             
             
  Loans   Available for any reason; subject to legal restrictions   Available for hardship (per IRS) rules only; subject to legal restrictions   For Prentiss employees moving to Brandywine: loans outstanding will transition to Brandywine plan with similar repayment schedules
           
              For future update: Brandywine will review loan eligibility rules.

 

Additional Information about the Merger and Where to Find It

This presentation does not constitute an offer of any securities for sale. In connection with the proposed transaction, Brandywine and Prentiss Properties filed a joint proxy statement/prospectus as part of a registration statement on Form S-4 and other documents regarding the proposed merger with the Securities and Exchange Commission. Investors and security holders are urged to read the join proxy statement/prospectus when it becomes available because it will contain important information about Brandywine and Prentiss Properties and the proposed merger. A definitive proxy statement/prospectus will be sent to shareholders of Brandywine and Prentiss Properties seeking their approval of the transaction. Investors and security holders may obtain a free copy of the definitive proxy statement/prospectus (when available) and other documents filed by Brandywine and Prentiss Properties with the SEC at the SEC’s website at www.sec.gov. The definitive joint proxy stat ement/prospectus and other relevant documents may also be obtained, when available, free of cost by directing a request to Brandywine Realty Trust, 401 Plymouth Road, Suite 500, Plymouth Meeting, PA 19462, Attention Investor Relations, (telephone 610-325-5600) or Prentiss Properties Trust, 3890 W. Northwest Highway, Suite 400, Dallas, Texas 75220, Attention: Investor Relations (telephone 214-654-0886). Investors and security holders are urged to read the proxy statement, prospectus and other relevant material when they become available before making any voting or investment decisions with respect to the merger.

Brandywine and Prentiss Properties and their respective trustees and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Brandywine and Prentiss Properties in connection with the merger. Information about Brandywine and its trustees and executive officers, and their ownership of Brandywine securities, is set forth in the proxy statement for Brandywine’s 2005 Annual Meeting of Shareholders, which was filed with the SEC on April 1, 2005. Information about Prentiss Properties and its trustees and executive officers, and their ownership of Prentiss Properties securities, is set forth in the proxy statement for the 2005 Annual Meeting of Shareholders of Prentiss Properties, which was filed with the SEC on April 5, 2005. Additional information regarding the interests of those persons may be obtained by reading the proxy statement/prospectus when it becomes available.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.