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News Release

Evan Goldman Promoted to Vice President, Development of Federal Realty Investment Trust

ROCKVILLE, Md., Feb. 14, 2011 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT) today announced the promotion of Evan Goldman to vice president, development.

(Logo: http://photos.prnewswire.com/prnh/20050907/DCW070LOGO )

Mr. Goldman joined Federal Realty in 2008 to manage the redevelopment of Mid-Pike Plaza in North Bethesda, Maryland and other redevelopment opportunities in Federal Realty's portfolio. The redevelopment of Mid-Pike Plaza will convert a 309,000 square foot strip center into a 24-acre mixed use project with over 3.4 million square feet of commercial real estate including 433,000 square feet of retail, 1.2 million square feet of Class A office space, and over 1,500 residential units.

To support his efforts on the redevelopment of Mid-Pike Plaza, Mr. Goldman has played an integral role in the successful adoption of the White Flint Sector Plan in Montgomery County, Maryland. He has been an active member of the White Flint Advisory Board, the White Flint Advisory Board Steering Committee, a leader of the White Flint Partnership, and a board member of Friends of White Flint. Over the last 18 months, Evan lead a team of developers, known as the White Flint Partnership, working together to pass legislation that will transform the way the development comes together in White Flint. The White Flint Sector Plan will govern land use along Rockville Pike in Montgomery County for the next 20 to 30 years and includes plans for more than 22 million square feet of new, more efficient urban style development.

"Through Evan's leadership we have made great strides towards the successful redevelopment of Mid-Pike Plaza, a project expected to create value for Federal Realty shareholders for years to come," said Don Wood, Federal Realty's president and chief executive officer. "As part of these efforts, Evan has been essential in creating community support for the vision of White Flint: a new residential, retail, office and community for the DC suburbs and a model for the country. In his new role we hope to use Evan's skills and experience to advance other opportunities throughout the portfolio."

Mr. Goldman joined Federal Realty in July 2008 with ten years of experience in development, finance, and architecture. Prior to joining Federal Realty, he was a Partner at the Holladay Corporation, a mixed-use development company in Washington, D.C., where he began his involvement with the White Flint Partnership. He has also worked as an Associate for Tishman Speyer Properties and as Vice President of Design for LeRoy Adventures. Mr. Goldman holds a MBA in Real Estate and Finance from the Wharton Business School and a Bachelor of Science in Design and Environmental Analysis from Cornell University. He serves on both the Advisory Board and the Management Committee of the Urban Land Institute Washington.

About Federal Realty

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.2 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 93.9% leased to national, regional, and local retailers as of September 30, 2010, with no single tenant accounting for more than approximately 2.7% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 43 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT. For more information, please visit federalrealty.com

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SOURCE Federal Realty Investment Trust