Gladstone Commercial Corporation Announces Common and Preferred Stock Cash Distributions for April, May and June

MCLEAN, Va., April 7, 2010 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company") announced today that its board of directors declared monthly cash distributions of $0.125 per common share for each of the months of April, May and June of 2010. Monthly distributions will be payable per Table 1 below.


    Table 1: Summary of common stock cash distributions for the quarter
                            ending June 30, 2010:
  -----------------------------------------------------------------------

                  X Dividend-
     Declared         Date       Record Date    Payment Date     Amount
  -------------  -------------  -------------  -------------  -----------

     April 7        April 20       April 22       April 30       $0.125
  -------------  -------------  -------------  -------------  -----------

     April 7        May 18         May 20         May 28         $0.125
  -------------  -------------  -------------  -------------  -----------

     April 7        June 18        June 22        June 30        $0.125
  -------------  -------------  -------------  -------------  -----------

                                            Total for the Quarter: $0.375
  -----------------------------------------------------------------------

The Board also declared monthly cash distributions of $0.1614583 for the Company's 7.75% Series A Cumulative Redeemable Preferred Stock for each of the months of April, May and June of 2010. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP." Monthly distributions will be payable per Table 2 below.


    Table 2: Summary of Series A Preferred Stock cash distributions for the
                          quarter ending June 30, 2010:
  ---------------------------------------------------------------------------

                  X Dividend-
     Declared         Date       Record Date    Payment Date       Amount
  -------------  -------------  -------------  -------------  ---------------

     April 7        April 20       April 22       April 30       $0.1614583
  -------------  -------------  -------------  -------------  ---------------

     April 7        May 18         May 20         May 28         $0.1614583
  -------------  -------------  -------------  -------------  ---------------

     April 7        June 18        June 22        June 30        $0.1614583
  -------------  -------------  -------------  -------------  ---------------

                                            Total for the Quarter: $0.4843749
  ---------------------------------------------------------------------------

The Board also declared monthly cash distributions for the Company's 7.50% Series B Cumulative Redeemable Preferred Stock of $0.15625 for each of the months of April, May and June of 2010. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO." Monthly distributions will be payable per Table 3 below.


   Table 3: Summary of Series B Preferred Stock cash distributions for the
                        quarter ending June 30, 2010:
  -------------------------------------------------------------------------

                  X Dividend-
     Declared         Date       Record Date    Payment Date     Amount
  -------------  -------------  -------------  -------------  -------------

     April 7        April 20       April 22       April 30       $0.15625
  -------------  -------------  -------------  -------------  -------------

     April 7        May 18         May 20         May 28         $0.15625
  -------------  -------------  -------------  -------------  -------------

     April 7        June 18        June 22        June 30        $0.15625
  -------------  -------------  -------------  -------------  -------------

                                            Total for the Quarter: $0.46875
  -------------------------------------------------------------------------

The Company is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. The Company's portfolio continues to perform as expected and it does not hold investments in sub-prime or other home mortgages or investments in the housing industry.

The Company offers a dividend reinvestment plan (DRIP) for its common shareholders. For more information regarding this Plan or other information about the Company, please visit www.gladstonecommercial.com.

CONTACT:  Gladstone Commercial Corporation
          Investor Relations
          703-287-5893