LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) today announced that the Company’s Board of Directors has declared a quarterly dividend on its common stock of $0.095 per share for the fourth quarter of 2010. The dividend will be paid on December 31, 2010, to stockholders of record on December 20, 2010.

The Board of Directors also declared a dividend for the partial period commencing December 10, 2010 and ending December 31, 2010 on its 8.375% Series B Cumulative Preferred Stock of $0.12214 per share. The dividend will be paid on December 31, 2010, to stockholders of record on December 20, 2010.

About Hudson Pacific Properties

Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in Northern and Southern California. The Company’s strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets including Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. Its portfolio includes 11 properties totaling approximately 2.4 million square feet and four development properties supporting approximately 1.4 million square feet, strategically located in many of the Company’s target markets. The Company intends to elect to be taxed and to operate in a manner that will allow it to qualify as a real estate investment trust, or REIT, for federal income tax purposes, commencing with the taxable year ending December 31, 2010. Hudson Pacific Properties is a component of the Russell 2000® and the Russell 3000® indices. For additional information, visit www.hudsonpacificproperties.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company’s control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s final prospectus dated June 23, 2010, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.

Source: Hudson Pacific Properties, Inc.

Investors:

Hudson Pacific Properties, Inc.

Mark Lammas, Chief Financial Officer

310-445-5700

or

Addo Communications, Inc.

Andrew Blazier, 310-829-5400

andrewb@addocommunications.com

or

Media:

Casey & Sayre

Karen Diehl, 310-473-8090

kdiehl@cswpr.com