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News Release

Federal Realty Investment Trust Announces 1st Quarter 2001 Earnings Release Date and Conference Call Information

ROCKVILLE, Md.--(BUSINESS WIRE)--May 7, 2001--Federal Realty Investment Trust (FRT) Will Announce 1st Quarter 2001 Earnings In a Press Release to be Issued May 8, 2001.

The conference call for 1st Quarter Earnings will take place on Wednesday, May 9, 2001 at 4 p.m. EST. Media is invited on a listen-in-only basis.

Conference call access information is as follows:

Toll Free Number: 800/665-0430

A live on-demand webcast of the conference call will also be available on Federal Realty's website at www.federalrealty.com. An online playback of the webcast will be available online following the conference call.

Should you have any questions, contact Kris Warner or Melissa Macchiavelli by calling 301/998-8100.

Federal Realty Investment Trust
Kris Warner
Melissa Macchiavelli