Elme Communities — Director's Dealing 2003

Jul 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2003-07-28

Reporting Person: REGNELL THOMAS L (Mnging. Dir. - Acquisitions)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-28	Common Stock	M	2012	$24.8450	Acquired	21480.1060	Direct
2003-07-28	Common Stock	M	7815	$24.8450	Acquired	29295.1060	Direct
2003-07-28	Common Stock	S	4127	$27.5000	Disposed	25168.1060	Direct
2003-07-29	Common Stock	S	5700	$27.5000	Disposed	19468.1060	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-28	ISO	$24.85	M	2012	Disposed	2011-12-17	Common Stock (2012.00)	Direct
2003-07-28	NQO	$24.85	M	7815	Disposed	2011-12-17	Common Stock (7815.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1050.0000	Indirect