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News Release

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

ROCKVILLE, Md., Jul 2, 2003 (BUSINESS WIRE) -- Federal Realty Investment Trust (NYSE:FRT) will announce Second Quarter 2003 Earnings in a press release to be issued on Wednesday, July 30, 2003.

The Conference Call for Second Quarter 2003 Earnings will take place on Thursday, July 31, 2003 at 11:00am Eastern Time. Conference Call access information 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 2:00pm on Thursday, July 31 through Thursday, August 14, 2003. Replay access information is as follows:

Toll Free Number: 800/925-2730

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 re-development of shopping centers and street retail properties. Federal Realty's portfolio contains approximately 15.7 million square feet located in major metropolitan markets across the United States. The operating portfolio is currently over 94% occupied 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 35 consecutive years, the longest consecutive record in the REIT industry.

SOURCE: Federal Realty Investment Trust

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