Gladstone Commercial Corp. Announces Increase in Line of Credit to $95 million and a $20 Million Unsecured Term Loan with KeyBank National

Gladstone Commercial Corp. (NASDAQ:GOOD) (the "Company”) announced that on December 21, 2007 it entered into a $20 million unsecured term loan with KeyBank National Association. The loan has a term of one year with a six month extension option. The unsecured term loan addition follows the increase by Gladstone Commercial Corp. on November 13, 2007 of its line of credit from $75 million to $95 million with its existing bank group. Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial, commercial and retail real estate properties and selectively making long-term mortgage loans. Additional information can be found at www.GladstoneCommercial.com. This press release may include statements that may constitute "forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as "believes,” "expects,” "estimates,” "projects” and "future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company’s current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption "Risk factors" of the Company’s Form 10-K for the Fiscal Year Ended December 31, 2006, as filed with the Securities and Exchange Commission on February 27, 2007, and the Company’s Form 10-Q for the quarter ended March 31, 2007, as filed with the Securities and Exchange Commission on May 1, 2007. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.