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News Release

Federal Realty President & CEO Awarded 2010 Corporate Leader of the Year
- Don Wood bestowed honor from Montgomery County Chamber of Commerce for leadership and sustainability initiatives -

ROCKVILLE, Md., Nov. 5, 2010 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT) today announced President & CEO Don Wood has been awarded the Montgomery County Chamber of Commerce's 2010 Corporate Leader of the Year for his demonstrated leadership, innovation, and commitment to good corporate citizenship in Montgomery County and beyond.

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At the Chamber's 2010 Business Awards Dinner last night, Mr. Wood was presented with the honor of 'Corporate Leader of the Year' by Barbara Linowes of Linowes and Blocher, LLP and Sue Healey of My Eye Dr. The Montgomery County Chamber of Commerce Business Awards Nomination Committee unanimously selected Mr. Wood as the Corporate Leader of the Year not only for his leadership, but also for Federal Realty's significant and lasting contribution to the local economy and community. Federal Realty has consistently set high standards for financial performance, sound management, and sustained growth.

"The Chamber is proud to recognize Don Wood as the 2010 Corporate Leader of the Year," said Georgette "Gigi" Godwin, president and CEO of the Montgomery County Chamber of Commerce. "Federal Realty is a nationally recognized industry leader in transit-oriented, sustainable development, and the Montgomery County Chamber Business Awards honor the accomplishments of top leaders who play a pivotal role in the success of our local businesses and economy."

Don Wood has successfully led Federal Realty Investment Trust and achieved the high standards identified by the Montgomery County Chamber of Commerce's Vision 2030 and Eco Initiatives. Vision 2030 helps to shape the county's future as one that is built on a vibrant and robust economy, and the Eco Initiative brings focus to the link between the economy and ecology, educating businesses on how to embrace best practices. In addition to Federal Realty's corporate strategy to acquire existing assets with opportunities to renovate and redevelop them in a sustainable way, Mr. Wood's eco-leadership is evidenced through the following:

  • Establishment of Green Box architecture and construction contract standards, which promote environmentally and socially responsible design and construction practices for work performed by Federal Realty;
  • Partnership with Greenlight Biofuels through which 92,470 gallons of used cooking oil was recycled into 62,706 gallons of biodiesel throughout Federal Realty's Mid-Atlantic portfolio in 2009
  • 89% of Federal Realty's entire 18.2 million square foot portfolio is located within walking distance of public transportation;
  • Completion of three development projects which have received certification from the United States Green Building Council's Leadership in Energy and Environmental Design (LEED) rating system: the latest phase of development at Bethesda Row, in Bethesda, Maryland; 300 Santana Row, in San Jose, California; and the residential component of Linden Square in Wellesley, Massachusetts.

For more information about Federal Realty's sustainable programs, please visit www.federalrealty.com.

About Federal Realty

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 18.2 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 93.9% leased to national, regional, and local retailers as of September 30, 2010, with no single tenant accounting for more than approximately 2.7% 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 43 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT. For more information, please visit www.federalrealty.com.

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SOURCE Federal Realty Investment Trust