**EXHIBIT 11.1**

 

**DUKE REALTY LIMITED PARTNERSHIP**

**EARNINGS TO FIXED CHARGES CALCULATION**

**(in thousands)**

 
|                                                                                                           |   | **Six Months  Ended June 30, 2004** |     |
|----------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|----------|
|                                                                                                           |   |                                     |     |
| Net income from continuing operations less  distributions on preferred units                                   |   | $                                        | 73,732   |   |
| Distributions on preferred units                                                                               |   | 16,001                                   |     |
| Earnings from sale of land and ownership  interests in unconsolidated companies, net of impairment adjustments |   | (5,733                                   | )        |
| Interest expense                                                                                               |   | 65,169                                   |     |
| Earnings before fixed charges                                                                                  |   | $                                        | 149,169  |   |
|                                                                                                           |   |                                     |     |
| Interest expense                                                                                               |   | $                                        | 65,169   |   |
| Interest costs capitalized                                                                                     |   | 2,760                                    |     |
| Total fixed charges                                                                                            |   | 67,929                                   |     |
|                                                                                                           |   |                                     |     |
| Preferred distributions                                                                                        |   | 16,001                                   |     |
| Total fixed charges and preferred distributions                                                                |   | $                                        | 83,930   |   |
|                                                                                                           |   |                                     |     |
| **Ratio of earnings  to fixed charges**                                                                        |   | **$**                                    | **2.20** |   |
|                                                                                                           |   |                                     |     |
| **Ratio of earnings  to fixed charges and preferred distributions**                                            |   | **$**                                    | **1.78** |   |

 

----