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News Release

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

ROCKVILLE, Md.--(BUSINESS WIRE)--Sept. 29, 2003--Federal Realty Investment Trust (NYSE:FRT) will announce Third Quarter 2003 Earnings in a press release to be issued on Monday, November 3, 2003.

The Conference Call for Third Quarter 2003 Earnings will take place on Tuesday, November 4, 2003, at 10 a.m. Eastern Daylight 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 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 15.8 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.


    CONTACT: 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

    SOURCE: Federal Realty Investment Trust