Elme Communities - Director's Dealing 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2004-03-03

Reporting Person: REED KENNETH C (Managing Dir. - Prop. Mngmt.)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-03	Common Stock	M	4685	$21.3440	Acquired	43573.3390	Direct
2004-03-03	Common Stock	M	4025	$24.8450	Acquired	47598.3390	Direct
2004-03-03	Common Stock	M	13789	$24.8450	Acquired	61387.3390	Direct
2004-03-03	Common Stock	M	1953	$25.6100	Acquired	63340.3390	Direct
2004-03-03	Common Stock	M	4081	$25.6100	Acquired	67421.3390	Direct
2004-03-03	Common Stock	M	23990	$21.3440	Acquired	91411.3390	Direct
2004-03-05	Common Stock	S	23990	$30.9535	Disposed	67421.3390	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-03	ISO - 2000 Officer & Management	$21.34	M	4685	Disposed	2010-12-15	Common Stock (4685.00)	Direct
2004-03-03	ISO - 2001 Officer & Management	$24.85	M	4025	Disposed	2011-12-17	Common Stock (4025.00)	Direct
2004-03-03	ISO - 2002 Officer & Management	$25.61	M	1953	Disposed	2012-12-16	Common Stock (1953.00)	Direct
2004-03-03	NQO - 2000 Officer	$21.34	M	23990	Disposed	2010-12-15	Common Stock (23990.00)	Direct
2004-03-03	NQO - 2001 Officer	$24.85	M	13789	Disposed	2011-12-17	Common Stock (13789.00)	Direct
2004-03-03	NQO - 2002 Officer	$25.61	M	4081	Disposed	2012-12-16	Common Stock (4081.00)	Direct

F1: 50 % exercisable on this date. 100 % exercisable one year from this date.

F2: 50% exercisable on this date. 100% exercisable one year from this date.