Gladstone Commercial Corp. Announces Common and Preferred Stock Cash Distributions for October, November and December

MCLEAN, Va., Oct. 6, 2009 (GLOBE NEWSWIRE) -- Gladstone Commercial Corp. (Nasdaq:GOOD) (the "Company") announced today that the Board of Directors declared monthly cash distributions of $0.125 per common share for each of the months of October, November and December of 2009.

Table 1: Summary of common stock cash distributions for the Quarter Ending December 31, 2009:

 ---------------------------------------------------------------------
 Declared     X Dividend-Date    Record Date    Payment Date    Amount
 ---------------------------------------------------------------------
 October 6      October 20        October 22     October 30     $0.125
 ---------------------------------------------------------------------
 October 6      November 17      November 19    November 30     $0.125
 ---------------------------------------------------------------------
 October 6      December 18      December 22    December 31     $0.125
 ---------------------------------------------------------------------
                                        Total for the Quarter:  $0.375
 ---------------------------------------------------------------------

The portfolio is performing as expected. Also, the Company holds no investments in sub-prime or other home mortgages or investments in the housing industry in its portfolio.

The Board of Directors declared monthly cash distributions for the Company's 7.75% Series A Cumulative Redeemable Preferred Stock of $0.1614583 for each of the months of October, November and December of 2009. Monthly distributions will be payable per Table 2 below. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP."

Table 2: Summary of Series A Preferred stock cash distributions for the Quarter Ending December 31, 2009:

 ---------------------------------------------------------------------
 Declared     X Dividend-Date   Record Date   Payment Date     Amount
 ---------------------------------------------------------------------
 October 6      October 20       October 22    October 30   $0.1614583
 ---------------------------------------------------------------------
 October 6      November 17     November 19   November 30   $0.1614583
 ---------------------------------------------------------------------
 October 6      December 18     December 22   December 31   $0.1614583
 ---------------------------------------------------------------------
                                     Total for the Quarter: $0.4843749
 ---------------------------------------------------------------------

The Board of Directors 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 October, November and December of 2009. Monthly distributions will be payable per Table 3 below. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO."

Table 3: Summary of Series B Preferred stock cash distributions for the Quarter Ending December 31, 2009:

 ---------------------------------------------------------------------
 Declared     X Dividend-Date   Record Date    Payment Date    Amount
 ---------------------------------------------------------------------
 October 6      October 20       October 22     October 30    $0.15625
 ---------------------------------------------------------------------
 October 6      November 17     November 19    November 30    $0.15625
 ---------------------------------------------------------------------
 October 6      December 18     December 22    December 31    $0.15625
 ---------------------------------------------------------------------
                                       Total for the Quarter: $0.46875
 ---------------------------------------------------------------------

Gladstone Commercial Corporation offers a Dividend Reinvestment Plan (DRIP) for its common shareholders. For more information regarding this Plan, please visit our website at www.gladstonecommercial.com.

Gladstone Commercial Corporation 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. Additional information can be found at www.gladstonecommercial.com.

CONTACT: Gladstone Commercial Corporation
         Investor Relations
         703-287-5839