Federal Realty Investment Trust Announces New Time for Third Quarter 2003 Earnings Conference Call

ROCKVILLE, Md.--(BUSINESS WIRE)--Oct. 20, 2003--Federal Realty Investment Trust (NYSE:FRT) announced that its Third Quarter 2003 Earnings Conference Call will be held at 1 p.m. Eastern Daylight Time on Tuesday, November 4, 2003. The call was initially scheduled to take place at 10 a.m. on the same day.

Conference Call access information remains the same and is as follows:

        Toll Free Number:           (800) 857-7003
        Passcode:                   EARNINGS
        Conference Leader:          Andrew Blocher

A telephonic replay of the Conference Call will be available for 14 days beginning at 4 p.m. on Tuesday, November 4, through Tuesday, November 18, 2003. Replay access information is as follows:

        Toll Free Number:           (800) 925-2730

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 contains approximately 16.2 million square feet located in major metropolitan markets across the United States. The operating portfolio was approximately 93% occupied on June 30, 2003, by over 2,000 national, regional, and local retailers with no single tenant accounting for more than 2.5% 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 New York Stock Exchange under the symbol FRT. Additional information about Federal Realty can be found on the Internet at www.federalrealty.com.

    CONTACT: Federal Realty Investment Trust
             Investor Inquiries:
             Andrew Blocher, 301-998-8166
             ablocher@federalrealty.com
                 or
             Media Inquiries:
             Kristine Warner, 301-998-8212
             kwarner@federalrealty.com

    SOURCE: Federal Realty Investment Trust