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News Release

LA Fitness Club to Open at Newly Renovated Crossroads Shopping Center
- Opening of the 43,000 square foot sports club completes $4 million renovation of Chicagoland center -

ROCKVILLE, Md., Nov. 15, 2010 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT), announced today that LA Fitness will open a 43,000 square foot sports club at Crossroads Shopping Center in Highland Park, Illinois on November 18, 2010. The opening of the state of the art sports club completes a $4 million, seven-month renovation of the 50-year-old center.

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"We are excited to welcome LA Fitness to Crossroads Shopping Center and celebrate the renovation of this community center, in the heart of Highland Park," said Chris Weilminster, senior vice president of leasing for Federal Realty. "LA Fitness' high quality concept has national appeal to customers across the country, and we believe they will be a great amenity for the residents of Highland Park and surrounding communities."

Aimed at updating and enhancing the center, the renovations include a new, contemporary stone facade, accented by colorful fabric and metal awnings, fieldstone columns, and new recessed lighting.

The new state-of-the-art sports club at Crossroads features full court basketball, a 25 yard three lane lap pool, a whirlpool spa and spacious locker rooms with showers and saunas, as well as separate group exercise and indoor cycling studios. These amenities complement a full array of fitness equipment, including over 80 pieces of the latest generation cardio equipment with individual viewing screens, circuit training, and free weight areas.

"We're excited to be opening our 20th club in the greater Chicagoland area, and we're happy to be one of the many reasons for people to come and discover the new Crossroads center," said Louis Welch, LA Fitness President and CEO.

LA Fitness members can participate in a variety of group fitness classes seven days a week including aqua, indoor cycling, dance classes, pilates and yoga at no additional charge; classes are not only beneficial for fitness but also as a means for social connection. Personal training, league play, and babysitting services are also available.

To celebrate completion of the renovation at Crossroads, Federal Realty Investment Trust will host a Grand Re-Opening event on Friday, November 19. The event will include a ribbon cutting ceremony with local dignitaries at 12 p.m., exclusive shopping discounts, and live jazz music provided by the Midwest Young Artists ensemble. For more information, please contact Collette Navarrette, cnavarrette@federalrealty.com.

About LA Fitness

Founded in 1984, LA Fitness is one of the fastest growing sports club chains in the United States and presently has over 340 locations in 22 states and Canada. LA Fitness' mission is to help as many people as possible achieve the benefits of a healthy lifestyle by creating a nationwide network of sports clubs, offering its members the widest range of amenities and the friendliest service at an affordable price. To learn more about LA Fitness, visit www.lafitness.com.

About Federal Realty Investment Trust

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.

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SOURCE Federal Realty Investment Trust