Elme Communities — Director's Dealing 2004

Dec 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2004-12-09

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-09	Common Stock	M	1000	$17.5935	Acquired	43031.8720	Direct
2004-12-09	Common Stock	M	19639	$21.3440	Acquired	62670.8720	Direct
2004-12-10	Common Stock	S	19639	$33.4843	Disposed	43031.8720	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-09	ISO - 1998 Officer & Management	$17.59	M	1000	Disposed	2008-12-15	Common Stock (1000.00)	Direct
2004-12-09	NQO - 2000 Officer	$21.34	M	19639	Disposed	2010-12-15	Common Stock (19639.00)	Direct