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News Release

Federal Realty Investment Trust Announces First Quarter 2004 Earnings Release Date and Conference Call Information

ROCKVILLE, Md.--(BUSINESS WIRE)--April 13, 2004--Federal Realty Investment Trust (NYSE:FRT) will announce First Quarter 2004 Earnings in a press release to be issued on Wednesday, May 5, 2004.

The Conference Call for First Quarter 2004 Earnings will take place on Thursday, May 6, 2004, at 11 a.m. Eastern Daylight Time. Conference Call access information is as follows:

Toll Free Number: 888-566-5771
Passcode: EARNINGS
Conference Leader: Andrew Blocher

A telephonic replay of the Conference Call will be available for 14 days beginning at 2 p.m. on Thursday, May 6, through Thursday, May 20, 2004. Replay access information is as follows:

Toll Free Number: 800-679-9654

A live on-demand Web cast of the Conference Call will be available on Federal Realty's Web site at www.federalrealty.com. An online playback of the Web cast will be available at www.federalrealty.com for seven 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 now contains approximately 16.9 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. The operating portfolio was approximately 93% leased to over 2,200 national, regional, and local retailers as of December 31, 2003, with no single tenant accounting for more than 2.3% of rental revenue. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 36 consecutive years, the longest consecutive record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT. Additional information about Federal Realty can be found on the Internet at www.federalrealty.com.

Federal Realty Investment Trust
Investor Inquiries
Andrew Blocher, 301-998-8166
Media Inquiries
Kristine Warner, 301-998-8212

SOURCE: Federal Realty Investment Trust