<HTML>
<HEAD>
<TITLE>sv8</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<P align="center" style="font-size: 10pt">As filed with the Securities and Exchange Commission on January&nbsp;2, 2004



<DIV align="right" style="font-size: 10pt"><B>Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></DIV>



<HR size="2" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -12px">






<DIV align="center" style="font-size: 10pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></DIV>



<P align="center" style="font-size: 14pt"><B>FORM S-8
<DIV align="center" style="font-size: 10pt">REGISTRATION STATEMENT UNDER THE<BR>
SECURITIES ACT OF 1933</DIV></B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>FIRST POTOMAC REALTY TRUST</B><BR>
(Exact name of registrant as specified in its charter)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Maryland</B><BR>
(State or other jurisdiction<BR>
of incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>37-1470730</B><BR>
(I.R.S. employer<BR>
identification no.)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>7200 Wisconsin Avenue, Suite&nbsp;310<BR>
Bethesda, Maryland 20814</B><BR>
(Address of principal executive offices) (Zip code)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>First Potomac Realty Trust 2003 Equity Compensation Plan</B><BR>
(Full title of the plan)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="55%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="100%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="100%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Douglas J. Donatelli<BR>
President and Chief Executive Officer<BR>
First Potomac Realty Trust<BR>
7200 Wisconsin Avenue, Suite&nbsp;310<BR>
Bethesda, Maryland 20814<BR>
(301)&nbsp;986-9200</B><BR>
(Name, address and telephone number,<BR>
including area code, of agent for service)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><B>CALCULATION OF
REGISTRATION FEE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR><TD colspan="17"><hr size="1"></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>Title of securities</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center"><B>to be registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>price per share</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B></TD>
</TR>
<TR><TD colspan="17"><hr size="1"></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;Common Shares of<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Beneficial Interest,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;par value $.001 per share</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">903,800 </TD>
    <TD nowrap>(1)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14,920,896</TD>
    <TD nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,208</TD>
    <TD>&nbsp;</TD>
</TR>
<TR><TD colspan="17"><hr size="1"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>





<P align="left" style="font-size: 10pt"><B>(1)&nbsp;&nbsp;&nbsp;&nbsp;In addition, pursuant to Rule&nbsp;416 under the Securities Act of 1933, this
registration statement also covers an indeterminate number of additional common
shares of beneficial interest that may be issued pursuant to the anti-dilution
adjustment provision of the above-named plan.</B>

<P align="left" style="font-size: 10pt"><B>(2)&nbsp;&nbsp;&nbsp;&nbsp;Estimated for purposes of computing the registration fee only. Pursuant to
Rule&nbsp;457(h), the proposed maximum offering price is based upon (i)&nbsp;in the case
of 505,000 common shares of beneficial interest issuable upon the exercise of
outstanding options issued in connection with the Registrant&#146;s initial public
offering, the price at which these options may be exercised ($15.00) and (ii)
in the case of all other common shares of beneficial interest issuable under
the above-mentioned equity incentive plan, the average of the high and low
prices of the Registrant&#146;s common shares of beneficial interest on December&nbsp;30,
2003 as reported on the New York Stock Exchange ($18.42).</B>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center" style="font-size: 10pt"><B><U>TABLE OF CONTENTS</U></B>


<DIV align="left">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD colspan="3" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>PART
I</U></DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;I. Plan Information.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;2. Registrant Information and Employee Plan Annual Information.</TD>
</TR>

<TR valign="bottom">

<TD colspan="3" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>PART
II</U></DIV></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;3. Incorporation of Documents by Reference.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;4. Description of Securities.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;5. Interests of Named Experts and Counsel.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;6. Indemnification of Directors and Officers.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;7. Exemption from Registration Claimed.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;8. Exhibits.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Item&nbsp;9. Undertakings.</TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><U>SIGNATURES</U></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><U>POWER OF ATTORNEY</U></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><U>EXHIBIT INDEX</U></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><U>Exhibit&nbsp;5.1</U></TD>
</TR>

<TR valign="bottom">
    <TD colspan="3" align="left" valign="top"><U>Exhibit&nbsp;23.2</U></TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">2
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<P align="center" style="font-size: 10pt"><B>PART I.</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;Plan Information.</B>



<P align="left" style="font-size: 10pt">Not required to be filed with this Registration Statement.*


<P align="left" style="font-size: 10pt"><B>Item&nbsp;2. &nbsp;&nbsp;&nbsp;&nbsp;Registrant Information and Employee Plan Annual Information.</B>



<P align="left" style="font-size: 10pt">Not required to be filed with this Registration Statement.*


<P align="left" style="font-size: 10pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing information specified in this Part&nbsp;I are being
separately provided to the participants covered by the First Potomac Realty
Trust 2003 Equity Compensation Plan, as specified by Rule&nbsp;428(b)(1).


<P align="center" style="font-size: 10pt"><B>PART II.</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. &nbsp;&nbsp;&nbsp;&nbsp;Incorporation of Documents by Reference.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant hereby incorporates the following documents in this
Registration Statement by reference:


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s prospectus filed pursuant to Rule 424(b)
promulgated under the Securities Act of 1933, as amended, as filed
with the Commission on October&nbsp;24, 2003, which prospectus forms a
part of the Registrant&#146;s Registration Statement on Form S-11
(333-107172);</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s report on Form 10-Q for the fiscal quarter
ended September&nbsp;30, 2003;</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s reports on Form 8-K dated October&nbsp;24, 2003,
October&nbsp;30, 2003, November&nbsp;20, 2003 and December&nbsp;3, 2003; and</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s common shares of
beneficial interest, par value $0.001 per share, contained in the
Registrant&#146;s Registration Statement on Form 8-A filed with the
Commission on October&nbsp;10, 2003, to register the
Registrant&#146;s common shares of beneficial interest under the Securities Exchange Act of
1934, as amended.</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents filed by us pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Exchange Act subsequent to the date hereof and prior to the
filing of a post-effective amendment which indicates that all securities
offered hereby have been sold, or which deregisters all securities remaining
unsold, shall be deemed to be incorporated by reference herein and to be a part
hereof from the respective dates of filing of such documents.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. &nbsp;&nbsp;&nbsp;&nbsp;Description of Securities.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. &nbsp;&nbsp;&nbsp;&nbsp;Interests of Named Experts and Counsel.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. &nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</B>



<P align="center" style="font-size: 10pt">3
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s amended and restated declaration of trust limits the
liability of its trustees and officers for money damages, except for liability
resulting from:


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>actual receipt of an improper benefit or profit in money, property or
services; or</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#149;&nbsp;&nbsp;&nbsp;a final judgment based upon a finding of active and deliberate
dishonesty by the trustee or officer that was material to the cause of action
adjudicated.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s amended and restated declaration of trust authorizes it,
to the maximum extent permitted by Maryland law, to indemnify, and to pay or
reimburse reasonable expenses to, any of its present or former shareholders,
employees, agents, trustees or officers or any individual who, while a
shareholder, employee, agent, trustee or officer and at its request, serves or
has served another entity, employee benefit plan or any other enterprise as a
trustee, director, officer, partner or otherwise. The indemnification covers
any claim or liability against the person. The Registrant&#146;s amended and
restated bylaws require it, to the maximum extent permitted by Maryland law, to
indemnify each present or former shareholder, trustee or officer who is made a
party to a proceeding by reason of his or her service to it.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law permits the Registrant to indemnify its present and former
trustees and officers against liabilities and reasonable expenses actually
incurred by them in any proceeding unless:


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the act or omission of the trustee or officer was material to the
matter giving rise to the proceeding; and</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>was committed in bad faith; or</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>was the result of active and deliberate dishonesty; or</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the trustee or officer actually received an improper personal benefit
in money, property or services; or</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="3%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in a criminal proceeding, the trustee or officer had reasonable cause
to believe that the act or omission was unlawful.</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, Maryland law prohibits the Registrant from indemnifying its
present and former trustees and officers for an adverse judgment in a
derivative action or if the trustee or officer was adjudged to be liable for an
improper personal benefit. The Registrant&#146;s amended and restated bylaws and
Maryland law require it, as a condition to advancing expenses in certain
circumstances, to obtain:

<P align="left" style="font-size: 10pt">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#149;&nbsp;&nbsp;&nbsp;
a written affirmation by the trustee or officer of his or her good
faith belief that he or she has met the standard of conduct necessary for
indemnification; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;
&nbsp;&nbsp;&nbsp; a written undertaking to repay the amount reimbursed if the standard of conduct is not met.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. &nbsp;&nbsp;&nbsp;&nbsp;Exemption from Registration Claimed.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Declaration of Trust (incorporated
herein by reference to Exhibit&nbsp;3.1 to Registrant&#146;s Registration
Statement on Form&nbsp;S-11 (No.&nbsp;333-107172)).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws
(incorporated herein by reference to
Exhibit&nbsp;3.2 to Registrant&#146;s Registration Statement on Form&nbsp;S-11 (No.
333-107172)).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="83%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust 2003 Equity Compensation Plan
(incorporated herein by reference to Exhibit&nbsp;10.15 to Registrant&#146;s
Registration Statement on Form&nbsp;S-11 (No.&nbsp;333-107172)).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Saul Ewing LLP, with respect to the legality of the common shares being issued.</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Saul Ewing LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings.</B>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned Registrant hereby undertakes:</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(i)&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act of 1933, as amended (the &#147;Securities Act&#148;);</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(ii)&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus any facts or events arising after
the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information
set forth in the Registration Statement; and</TD>
</TR>
</TABLE>


<P><TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; color: #000000; background: #FFFFFF">
<TR valign="top">
    <TD width="5%" nowrap align="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>(iii)&nbsp;&nbsp;&nbsp;&nbsp;To include any material information with respect to the plan
of distribution not previously disclosed in the Registration
Statement or any material change to such information in the
Registration Statement;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt"><U>provided</U>, <U>however,</U> that paragraphs (a)(1)(i) and (a)(1)(ii) above will not
apply if the Registration Statement is on Form S-3, Form S-8 or Form F-3 and
the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports by the Registrant pursuant to
Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by
reference in the Registration Statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.


<P align="left" style="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section&nbsp;15 (d)&nbsp;of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.


<P align="left" style="font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or other
controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being


<P align="center" style="font-size: 10pt">5
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="left" style="font-size: 10pt">registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.

<P>&nbsp;&nbsp;&nbsp;&nbsp;
<P>&nbsp;&nbsp;&nbsp;&nbsp;
<P>&nbsp;&nbsp;&nbsp;&nbsp;
<P align="center" style="font-size: 10pt">6
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that the
Registrant meets all of the requirements for filing Form S-8 and has duly
caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Bethesda, State of
Maryland, on this 19th day of December, 2003.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="37%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">FIRST POTOMAC REALTY TRUST</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">/s/ Douglas J. Donatelli<BR><HR size="1" width="60%">
Douglas J. Donatelli<BR>
President and Chief Executive Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P>&nbsp;&nbsp;&nbsp;&nbsp;

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below
constitutes and appoints Douglas J. Donatelli and Barry H. Bass, and each of
them, with full power to act without the other, such person&#146;s true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for and in his or her name, place and stead, in any and all
capacities, to sign this Registration Statement and any and all amendments
thereto (including post-effective amendments), and to file the same, with
exhibits and schedules thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing necessary or desirable to be done in
and about the premises, as fully to all intents and purposes as might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them, or their substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="left" nowrap valign="top">/s/ Louis T. Donatelli<BR>
<HR size="1">
Louis T. Donatelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board of Trustees
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ Douglas J. Donatelli<BR>
<HR size="1">
Douglas J. Donatelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President, Chief Executive Officer and<BR>
Trustee (Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ Barry H. Bass<BR>
<HR size="1">
Barry H. Bass</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Senior Vice President and Chief Financial<BR>
Officer (Principal Financial and Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ Richard B. Chess<BR>
<HR size="1">
Richard B. Chess</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ Robert H. Arnold<BR>
<HR size="1">
Robert H. Arnold</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ J. Roderick Heller<BR>
<HR size="1">
J. Roderick Heller</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ R. Michael McCullough<BR>
<HR size="1">
R. Michael McCullough</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="left" nowrap valign="top">/s/ Terry L. Stevens<BR>
<HR size="1">
Terry L. Stevens</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Trustee
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">December 19, 2003</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<P align="center" style="font-size: 10pt"><U>EXHIBIT INDEX</U>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Declaration of Trust (incorporated
herein by reference to Exhibit&nbsp;3.1 to Registrant&#146;s Registration
Statement on Form&nbsp;S-11 (No.&nbsp;333-107172)).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amended and Restated Bylaws
(incorporated herein by reference to
Exhibit&nbsp;3.2 to Registrant&#146;s Registration Statement on Form&nbsp;S-11 (No.
333-107172)).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First Potomac Realty Trust 2003 Equity Compensation Plan
(incorporated herein by reference to Exhibit&nbsp;10.15 to Registrant&#146;s
Registration Statement on Form&nbsp;S-11 (No.&nbsp;333-107172)).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Saul Ewing LLP, with respect to the legality of the common shares being issued.</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Saul Ewing LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of KPMG LLP.</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "w92878sv8.htm", "description": "REGISTRATION STATEMENT, FORM S-8", "secsgml_size_bytes": 38682}]
{"company-data": {"conformed-name": "FIRST POTOMAC REALTY TRUST", "cik": "0001254595", "assigned-sic": "6798", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-111691", "film-number": "04500561"}, "business-address": {"street1": "7200 WISCONSIN AVENUE", "street2": "SUITE 310", "city": "BETHESDA", "state": "MD", "zip": "20814", "phone": "3019869200"}, "mail-address": {"street1": "7200 WISCONSIN AVENUE", "street2": "SUITE 310", "city": "BETHESDA", "state": "MD", "zip": "20814"}}
sv8
As filed with the Securities and Exchange Commission on January 2, 2004
Registration
No. 333-
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
FIRST POTOMAC REALTY TRUST
(Exact name of registrant as specified in its charter)
Maryland
(State or other jurisdiction
of incorporation or organization)
37-1470730
(I.R.S. employer
identification no.)
7200 Wisconsin Avenue, Suite 310
Bethesda, Maryland 20814
(Address of principal executive offices) (Zip code)
First Potomac Realty Trust 2003 Equity Compensation Plan
(Full title of the plan)
Douglas J. Donatelli
President and Chief Executive Officer
First Potomac Realty Trust
7200 Wisconsin Avenue, Suite 310
Bethesda, Maryland 20814
(301) 986-9200
(Name, address and telephone number,
including area code, of agent for service)
CALCULATION OF
REGISTRATION FEE
Proposed
Proposed maximum
Title of securities
Amount to be
maximum offering
aggregate
Amount of
to be registered
Registered
price per share
offering price
registration fee
Common Shares of
Beneficial Interest,
par value $.001 per share
903,800
(1)
(2
)
$
14,920,896
(2)
$
1,208
(1)    In addition, pursuant to Rule 416 under the Securities Act of 1933, this
registration statement also covers an indeterminate number of additional common
shares of beneficial interest that may be issued pursuant to the anti-dilution
adjustment provision of the above-named plan.
(2)    Estimated for purposes of computing the registration fee only. Pursuant to
Rule 457(h), the proposed maximum offering price is based upon (i) in the case
of 505,000 common shares of beneficial interest issuable upon the exercise of
outstanding options issued in connection with the Registrant's initial public
offering, the price at which these options may be exercised ($15.00) and (ii)
in the case of all other common shares of beneficial interest issuable under
the above-mentioned equity incentive plan, the average of the high and low
prices of the Registrant's common shares of beneficial interest on December 30,
2003 as reported on the New York Stock Exchange ($18.42).
TABLE OF CONTENTS
PART
I
Item I. Plan Information.
Item 2. Registrant Information and Employee Plan Annual Information.
PART
II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
POWER OF ATTORNEY
EXHIBIT INDEX
Exhibit 5.1
Exhibit 23.2
2
PART I.
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1.    Plan Information.
Not required to be filed with this Registration Statement.*
Item 2.     Registrant Information and Employee Plan Annual Information.
Not required to be filed with this Registration Statement.*
*     The documents containing information specified in this Part I are being
separately provided to the participants covered by the First Potomac Realty
Trust 2003 Equity Compensation Plan, as specified by Rule 428(b)(1).
PART II.
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.     Incorporation of Documents by Reference.
The Registrant hereby incorporates the following documents in this
Registration Statement by reference:
(a)
The Registrant's prospectus filed pursuant to Rule 424(b)
promulgated under the Securities Act of 1933, as amended, as filed
with the Commission on October 24, 2003, which prospectus forms a
part of the Registrant's Registration Statement on Form S-11
(333-107172);
(b)
The Registrant's report on Form 10-Q for the fiscal quarter
ended September 30, 2003;
(c)
The Registrant's reports on Form 8-K dated October 24, 2003,
October 30, 2003, November 20, 2003 and December 3, 2003; and
(d)
The description of the Registrant's common shares of
beneficial interest, par value $0.001 per share, contained in the
Registrant's Registration Statement on Form 8-A filed with the
Commission on October 10, 2003, to register the
Registrant's common shares of beneficial interest under the Securities Exchange Act of
1934, as amended.
In addition, all documents filed by us pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act subsequent to the date hereof and prior to the
filing of a post-effective amendment which indicates that all securities
offered hereby have been sold, or which deregisters all securities remaining
unsold, shall be deemed to be incorporated by reference herein and to be a part
hereof from the respective dates of filing of such documents.
Item 4.     Description of Securities.
Not applicable.
Item 5.     Interests of Named Experts and Counsel.
Not applicable.
Item 6.     Indemnification of Directors and Officers.
3
The Registrant's amended and restated declaration of trust limits the
liability of its trustees and officers for money damages, except for liability
resulting from:
•
actual receipt of an improper benefit or profit in money, property or
services; or
•   a final judgment based upon a finding of active and deliberate
dishonesty by the trustee or officer that was material to the cause of action
adjudicated.
The Registrant's amended and restated declaration of trust authorizes it,
to the maximum extent permitted by Maryland law, to indemnify, and to pay or
reimburse reasonable expenses to, any of its present or former shareholders,
employees, agents, trustees or officers or any individual who, while a
shareholder, employee, agent, trustee or officer and at its request, serves or
has served another entity, employee benefit plan or any other enterprise as a
trustee, director, officer, partner or otherwise. The indemnification covers
any claim or liability against the person. The Registrant's amended and
restated bylaws require it, to the maximum extent permitted by Maryland law, to
indemnify each present or former shareholder, trustee or officer who is made a
party to a proceeding by reason of his or her service to it.
Maryland law permits the Registrant to indemnify its present and former
trustees and officers against liabilities and reasonable expenses actually
incurred by them in any proceeding unless:
•
the act or omission of the trustee or officer was material to the
matter giving rise to the proceeding; and
•
was committed in bad faith; or
•
was the result of active and deliberate dishonesty; or
•
the trustee or officer actually received an improper personal benefit
in money, property or services; or
•
in a criminal proceeding, the trustee or officer had reasonable cause
to believe that the act or omission was unlawful.
However, Maryland law prohibits the Registrant from indemnifying its
present and former trustees and officers for an adverse judgment in a
derivative action or if the trustee or officer was adjudged to be liable for an
improper personal benefit. The Registrant's amended and restated bylaws and
Maryland law require it, as a condition to advancing expenses in certain
circumstances, to obtain:
•   
a written affirmation by the trustee or officer of his or her good
faith belief that he or she has met the standard of conduct necessary for
indemnification; and
•
    a written undertaking to repay the amount reimbursed if the standard of conduct is not met.
Item 7.     Exemption from Registration Claimed.
Not applicable.
Item 8.     Exhibits.
4.1
Amended and Restated Declaration of Trust (incorporated
herein by reference to Exhibit 3.1 to Registrant's Registration
Statement on Form S-11 (No. 333-107172)).
4.2
Amended and Restated Bylaws
(incorporated herein by reference to
Exhibit 3.2 to Registrant's Registration Statement on Form S-11 (No.
333-107172)).
4
4.3
First Potomac Realty Trust 2003 Equity Compensation Plan
(incorporated herein by reference to Exhibit 10.15 to Registrant's
Registration Statement on Form S-11 (No. 333-107172)).
5.1
Opinion of Saul Ewing LLP, with respect to the legality of the common shares being issued.
23.1
Consent of Saul Ewing LLP (included in Exhibit 5.1).
23.2
Consent of KPMG LLP.
Item 9. Undertakings.
(a)
The undersigned Registrant hereby undertakes:
(1)     To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i)    To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933, as amended (the "Securities Act");
(ii)    To reflect in the prospectus any facts or events arising after
the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information
set forth in the Registration Statement; and
(iii)    To include any material information with respect to the plan
of distribution not previously disclosed in the Registration
Statement or any material change to such information in the
Registration Statement;
provided
,
however,
that paragraphs (a)(1)(i) and (a)(1)(ii) above will not
apply if the Registration Statement is on Form S-3, Form S-8 or Form F-3 and
the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in the Registration Statement.
(2)     That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3)     To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.
(b)     The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15 (d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c)     Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or other
controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being
5
registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
6
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended,
the Registrant certifies that it has reasonable grounds to believe that the
Registrant meets all of the requirements for filing Form S-8 and has duly
caused this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Bethesda, State of
Maryland, on this 19th day of December, 2003.
FIRST POTOMAC REALTY TRUST
By:
/s/ Douglas J. Donatelli
Douglas J. Donatelli
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below
constitutes and appoints Douglas J. Donatelli and Barry H. Bass, and each of
them, with full power to act without the other, such person's true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for and in his or her name, place and stead, in any and all
capacities, to sign this Registration Statement and any and all amendments
thereto (including post-effective amendments), and to file the same, with
exhibits and schedules thereto, and other documents in connection therewith,
with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them, full power and authority to do
and perform each and every act and thing necessary or desirable to be done in
and about the premises, as fully to all intents and purposes as might or could
do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or any of them, or their substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signature
Title
Date
/s/ Louis T. Donatelli
Louis T. Donatelli
Chairman of the Board of Trustees
December 19, 2003
/s/ Douglas J. Donatelli
Douglas J. Donatelli
President, Chief Executive Officer and
Trustee (Principal Executive Officer)
December 19, 2003
/s/ Barry H. Bass
Barry H. Bass
Senior Vice President and Chief Financial
Officer (Principal Financial and Accounting Officer)
December 19, 2003
/s/ Richard B. Chess
Richard B. Chess
Trustee
December 19, 2003
/s/ Robert H. Arnold
Robert H. Arnold
Trustee
December 19, 2003
/s/ J. Roderick Heller
J. Roderick Heller
Trustee
December 19, 2003
/s/ R. Michael McCullough
R. Michael McCullough
Trustee
December 19, 2003
/s/ Terry L. Stevens
Terry L. Stevens
Trustee
December 19, 2003
EXHIBIT INDEX
4.1
Amended and Restated Declaration of Trust (incorporated
herein by reference to Exhibit 3.1 to Registrant's Registration
Statement on Form S-11 (No. 333-107172)).
4.2
Amended and Restated Bylaws
(incorporated herein by reference to
Exhibit 3.2 to Registrant's Registration Statement on Form S-11 (No.
333-107172)).
4.3
First Potomac Realty Trust 2003 Equity Compensation Plan
(incorporated herein by reference to Exhibit 10.15 to Registrant's
Registration Statement on Form S-11 (No. 333-107172)).
5.1
Opinion of Saul Ewing LLP, with respect to the legality of the common shares being issued.
23.1
Consent of Saul Ewing LLP (included in Exhibit 5.1).
23.2
Consent of KPMG LLP.