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News Release

Federal Realty Investment Trust Announces First Quarter 2003 Earnings Release Date and Conference Call Information

ROCKVILLE, Md.--(BUSINESS WIRE)--April 7, 2003--Federal Realty Investment Trust (NYSE:FRT) will announce First Quarter 2003 Earnings in a press release to be issued on Wednesday, May 7, 2003.

The Conference Call for First Quarter 2003 Earnings will take place on Thursday, May 8, 2003 at 11:00am Eastern Standard Time. Conference Call access information is as follows:

Toll Free Number: (888) 913-9966
Passcode: EARNINGS
Conference Leader: Andrew Blocher

A telephonic replay of the Conference Call will be available for 14 days beginning at 3:30pm on Thursday, May 8 through Thursday, May 22, 2003. Replay access information is as follows:

Toll Free Number: (800) 337-6851

A live on-demand webcast of the Conference Call will be available on Federal Realty's website at www.federalrealty.com. An online playback of the webcast will be available at www.federalrealty.com for 7 days following the Conference Call.

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development and redevelopment of shopping centers and street retail properties. Federal Realty's portfolio contains over 15.4 million square feet of retail space located in major metropolitan markets across the United States.

The operating portfolio is currently 95% occupied by over 2,000 national, regional and local retailers with no single tenant accounting for more than 2.6% of rental revenue.

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its annual dividend for 35 consecutive years, the longest consecutive record in the REIT industry. Shares of Federal Realty are traded on the New York Stock Exchange under the symbol FRT.

Additional information about Federal Realty can be found on the Internet at www.federalrealty.com.

Federal Realty Investment Trust, Rockville
Andy Blocher, 301/998-8166

SOURCE: Federal Realty Investment Trust