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News Release

Neiman Marcus Last Call Studio to Open Fall 2010 at Congressional Plaza
matchbox vintage pizza bistro and Bark! also coming to Rockville, MD this fall -

ROCKVILLE, Md., July 6, 2010 /PRNewswire via COMTEX/ --

Federal Realty Investment Trust (NYSE: FRT) today announced an exciting addition to Congressional Plaza, the 332,000 square foot regional shopping destination in Rockville, Maryland. Neiman Marcus Last Call will open a Last Call Studio store this fall, their second location nationally, in 13,300 square feet at Congressional Plaza.

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(Logo: http://www.newscom.com/cgi-bin/prnh/20050907/DCW070LOGO )

"Neiman Marcus was looking for the best address on Rockville Pike to showcase their new concept," said Wendy Seher, Federal Realty's vice president of leasing. "Congressional Plaza's regional draw combined with the strong mix of best in class retailers was a natural fit for Neiman Marcus Last Call Studio. We're thrilled to partner with Neiman Marcus to bring this dynamic new offering to our shoppers."

Last Call Studio by Neiman Marcus is a discount retail concept for aspirational shoppers, presenting brand-name fashion and accessories, including Lafayette 148, J Brand, Seven for all Mankind and Vince, in an environment that is a retail hybrid of a boutique and an outlet. With emphasis on contemporary apparel, handbags, shoes, and men's sportswear, the store will also feature unique design elements such as track lighting, polished concrete floors with color-blocked area rugs and cohesive merchandise groupings.

Opening its fourth location at Congressional Plaza this fall is DC favorite matchbox. On the menu, look for matchbox's signature pizzas and sliders and enough elbow room to house the whole family with two levels of seating and over 100 patio seats. Additionally their new location will feature two large pizza ovens.

Also joining the property this fall is Bark! a pet food concept dedicated to providing premium natural and organic products, nutritious pet foods and treats. Bark's mission is to enrich the lives of animal companions by providing products that are healthy, eco-friendly and socially responsible. This will be the fourth location for Bark!, with existing locations in Clarksville, Olney and Gaithersburg, Maryland.

Acquired by Federal Realty in 1965, Congressional Plaza is a grocery-anchored regional shopping destination anchored by Buy Buy Baby and the Container Store, with a vibrant merchandising mix comprised of more than fifty stores and restaurants, including a unique collection of boutiques, national retailers and dining destinations. Congressional Plaza has been dynamically transformed and redeveloped over the past four decades to meet the needs of the surrounding community with a unique architectural ambiance, consumer marketing programs such as 'Mommy & Me,' metro access and close proximity to Montgomery County's most heavily-traveled routes MD-355 Rockville Pike, I-270 and I-495. For more information on Congressional Plaza, please visit congressionalplaza.com.

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 18.2 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 94.1% leased to national, regional, and local retailers as of March 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 42 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 federalrealty.com.

    Media Inquiries
    ---------------                   Jill Powell
    Janelle Stevenson                 Senior Marketing Manager
    Corporate Communications Manager  301/998-8178
    301/998-8185                      jpowell@federalrealty.com

SOURCE Federal Realty Investment Trust