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News Release

Federal Realty Investment Trust Announces Officer Promotions

ROCKVILLE, Md., Feb. 14 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) today announced the promotions of Andrew Blocher to senior vice president, capital markets and investor relations, Philip Mays to vice president, chief accounting officer and Bob Walsh to vice president, development - northeast region. In addition, Federal Realty announced that Robin McBride, director of asset management, and William Morrow, director of construction, have been admitted to the Trust's Leadership, Education, and Development (LEAD) Program. The LEAD Program is an internal management training program designed to develop leadership qualities in Federal Realty's next generation of senior management. To date, four graduates of the LEAD program have been promoted to Vice President positions within Federal Realty.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO )

"Our management team continues to play an integral part in the successful execution of Federal Realty's business strategy," commented Donald Wood, Federal Realty's president and chief executive officer. "Federal Realty continues to identify key management personnel within the organization to recognize and reward for the value they provide the team. The promotions of these executives further position Federal Realty to build upon its foundation of creating a rewarding work environment for our employees."

Andrew Blocher has assumed the role of senior vice president, capital markets and investor relations, with primary responsibility for raising debt and equity capital to fund the Trust's business plan. In addition, Mr. Blocher is responsible for the Trust's investor relations and corporate communication initiatives. Mr. Blocher has been vice president, capital markets and investor relations for Federal Realty since 2000. Mr. Blocher has significant experience working with investment and commercial bankers to successfully raise debt and equity capital through his experience at Federal Realty and his previous work experience at CRIIMI MAE, Inc. and Freddie Mac. Andrew has a MBA from The George Washington University and a bachelor's degree in finance from Indiana University.

Philip Mays assumes the role of vice president, chief accounting officer. Mr. Mays has held the position of controller since joining the Trust in 2005. Philip has extensive real estate, REIT and SEC experience from prior positions with CRIIMI MAE, Inc. and as an auditor with Ernst & Young. Mr. Mays was corporate controller and vice president of finance with CRIIMI MAE, Inc. before joining the Trust. Mr. Mays is a certified public accountant and has a bachelor's degree with a double major in accounting and finance from Jacksonville University.

An employee of Federal Realty since 2005, Bob Walsh now serves as vice president, development - northeast region, for the Trust. In this capacity, Mr. Walsh is responsible for the execution of all property development strategies in the Northeast region including the 62 acre proposed development, Assembly Square in Somerville, Mass. Bob has over thirty years of experience in the real estate industry working with both public and private firms and has a proven track record of planning, negotiating and executing complex development and redevelopment projects. Mr. Walsh holds a MBA from The University of Michigan and a bachelor's degree from The University of Toronto.

Robin McBride and William Morrow have been admitted to Federal Realty's LEAD program. Ms. McBride has been an employee of Federal Realty since 2004 as director of asset management. In that role, Robin is responsible for asset management of six retail projects in the mid-Atlantic region and oversees development financial analysis for the Trust. Prior to joining the trust Ms. McBride was the vice president - senior portfolio manager for Keybank Real Estate Capital. Robin earned her MBA in Real Estate from Georgia State University and is a CPA. Mr. Morrow has held the position of director of construction since joining the Trust in 2004. Prior to joining the Trust, Mr. Morrow was a project manager with The Donohoe Companies, Inc. in Washington, D.C. William has a MBA from Georgetown University and a bachelor's degree from The Catholic University of America in architecture.

About Federal Realty

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.8 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 0.7 million square feet of retail space through its joint venture with Clarion Lion Properties Fund in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 96.5% leased to national, regional, and local retailers as of December 31, 2006, with no single tenant accounting for more than approximately 2.5% 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 39 consecutive years, the longest record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT.

    Investor and Media Inquiries:

    Vikki Kayne                                Kimberly Brooks
    Vice President                             Public Relations Counselor
    Marketing and Corporate Communications     Adam Friedman Associates
    301/998-8178                               212/981-2529, ext. 14
    vkayne@federalrealty.com                   kimberly@adam-friedman.com
SOURCE  Federal Realty Investment Trust
    -0-                             02/14/2007
    /CONTACT: Vikki Kayne, Vice President, Marketing and Corporate
Communications of Federal Realty Investment Trust, +1-301-998-8178,
vkayne@federalrealty.com, or Kimberly Brooks, Public Relations Counselor of
Adam Friedman Associates, +1-212-981-2529, ext. 14,
    /Photo:  NewsCom:  http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO
              AP Archive:  http://photoarchive.ap.org
              PRN Photo Desk, photodesk@prnewswire.com/
    /Web site:  http://www.federalrealty.com/

CO:  Federal Realty Investment Trust
ST:  Maryland

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7316 02/14/2007 08:51 EST http://www.prnewswire.com