Elme Communities — Director's Dealing 2004

Feb 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WASHINGTON REAL ESTATE INVESTMENT TRUST (WRE)
CIK: 0000104894
Period of Report: 2004-02-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-25	Common Stock	M	2013	$24.8450	Acquired	26382.1060	Direct
2004-02-25	Common Stock	M	7816	$24.8450	Acquired	34198.1060	Direct
2004-02-25	Common Stock	M	1952	$25.6100	Acquired	36150.1060	Direct
2004-02-25	Common Stock	M	4704	$25.6100	Acquired	40854.1060	Direct
2004-02-25	Common Stock	S	2885	$30.6441	Disposed	37969.1060	Direct
2004-02-26	Common Stock	S	13600	$30.5000	Disposed	24369.1060	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-25	ISO - 2001 Officer & Management	$24.85	M	2013	Disposed	2011-12-17	Common Stock (2013.00)	Direct
2004-02-25	ISO - 2002 Officer & Management	$25.61	M	1952	Disposed	2012-12-16	Common Stock (1952.00)	Direct
2004-02-25	NQO - 2001 Officer	$24.85	M	7816	Disposed	2011-12-17	Common Stock (7816.00)	Direct
2004-02-25	NQO - 2002 Officer	$25.61	M	4704	Disposed	2012-12-16	Common Stock (4704.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1150.0000	Indirect

Footnotes

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.