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News Release

European Market Returns to Bethesda Row; Federal Realty Sponsors Third Annual Event to benefit the Susan G. Komen Breast Cancer Foundation National Race for the Cure

ROCKVILLE, Md.--(BUSINESS WIRE)--April 12, 2001--The third annual Bethesda Row European Market, sponsored by Federal Realty, is scheduled for Saturday, May 12 from 9:00 a.m. to 6 p.m., along Woodmont and Bethesda Avenues.

Featuring more than 40 diverse vendors, the event will provide lively entertainment, shopping and fantastic food reminiscent of a European open-air market.

The streets of Bethesda Row will be lined with antique vendors offering a unique mix of items including furniture, rugs, handmade crafts, jewelry and collectibles. A variety of food vendors will tempt and please palates with everything from home-baked crusty breads, imported sauces and spreads, to farm-fresh produce.

Throughout the day, Barnes & Noble will offer a host of activities for children of all ages. Musical performances will take place on the main stage located at the corner of Bethesda and Woodmont Avenues at the fountain in front of Barnes & Noble. Cafe seating will be scattered throughout the marketplace.

In addition, the Komen National Race for the Cure(R) will have a registration area on Bethesda Avenue for those interested in participating in the race.

The third annual European Market is sponsored by Federal Realty, an equity real estate investment trust specializing in the ownership, management, development and re-development of high quality retail and mixed-use properties.

The Trust owns and has an interest in 154 real estate assets consisting of community and neighborhood shopping centers and retail and urban mixed-use properties located in strategic metropolitan markets across the United States. The Trust is nationally recognized for its main street revitalization programs as well as the development of urban mixed-use, pedestrian-friendly communities.

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 33 consecutive years. Shares of Federal Realty are traded on the New York Stock Exchange under the symbol FRT.

For additional information about Federal Realty visit www.federalrealty.com.

CONTACT:
Federal Realty
Melissa Macchiavelli, 301/998-8168
mmacchiavelli@federalrealty.com