Elme Communities — Director's Dealing 2003

Sep 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2003-09-08

Reporting Person: FRANKLIN LAURA M (S.V.P. Accounting)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-08	Common Stock	M	824	$20.6250	Acquired	28459.9590	Direct
2003-09-08	Common Stock	S	1000	$29.0000	Disposed	27459.9590	Direct
2003-09-08	Common Stock	S	3000	$29.0200	Disposed	24459.9590	Direct
2003-09-08	Common Stock	S	1000	$29.1000	Disposed	23459.9590	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-08	ISO	$20.63	M	824	Disposed	2004-01-11	Common Stock (824.00)	Direct