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News Release

Lance Billingsley Joins Federal Realty Investment Trust's Anchor Leasing Team

ROCKVILLE, Md., March 7, 2011 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT) today announced that Lance Billingsley has joined the Trust as director of anchor tenant leasing. Mr. Billingsley will be based out of Federal Realty's Northeast region office in Wynnewood, Pennsylvania and will specialize in leasing properties located in the Northeast and mid-Atlantic regions.

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"Lance is a remarkable addition to our leasing team, bringing extensive real estate knowledge coupled with strong retailer relationships," said Chris Weilminster, senior vice president - leasing for Federal Realty. "His proven transactional experience across the Philadelphia, Baltimore, and Washington, D.C. metropolitan markets enhances the depth of our seasoned leasing team."

Mr. Billingsley brings more than 20 years of retail real estate experience to the Trust and has executed over 1,000 leases for more than 15 million square feet with national retailers along the East Coast. Before joining the Trust, Mr. Billingsley served as vice president of leasing and development for Brandolini Companies, where he was responsible for leasing and managing a 2.7 million square foot portfolio of predominantly grocery-anchored shopping centers in Pennsylvania and New Jersey. Prior to that he was vice president of leasing at First Washington Realty Trust, where he founded, managed, and lead leasing efforts for the Pennsylvania regional office. Mr. Billingsley graduated from James Madison University where he received a Bachelor of Arts degree in English, and is an active member of the International Council of Shopping Centers.

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 18.3 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 December 31, 2010, with no single tenant accounting for more than approximately 2.6% 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