ROCKVILLE, Md., Jan. 16 /PRNewswire-FirstCall/ -- Federal Realty Investment Trust (NYSE: FRT) released today the Federal income tax treatment for 2008 distributions to holders of its Common Shares of Beneficial Interest (NYSE: FRT).

(Logo: )

The characterization of distributions on our common shares traded under the ticker symbol FRT is as follows:

                                                        Distribution Type
      CUSIP    Record       Payable   Distribution    Taxable     Qualified
                Date         Date       Per Share     Ordinary    Dividend
    313747206  1/2/2008   1/15/2008  $0.610000000  $0.610000000  $0.006100000
              3/19/2008   4/15/2008  $0.610000000  $0.610000000  $0.006100000
              6/24/2008   7/15/2008  $0.610000000  $0.610000000  $0.006100000
              9/23/2008  10/15/2008  $0.650000000  $0.650000000  $0.006500000
                         2008Totals  $2.480000000  $2.480000000  $0.024800000

The company did not incur any foreign taxes. No portion of the 2008 dividend received capital gain treatment. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Federal Realty distributions. Should you need any additional information, contact Gina Birdsall, Investor Relations, at (301) 998-8265.

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 18.1 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 95.5% leased to national, regional, and local retailers as of September 30, 2008, 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 41 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.

    Investor and Media Inquiries
    Gina BirdsallJanelle Stevenson
    Investor Relations                   Corporate Communications
    301/998-8265                         301/998-8185

SOURCE  Federal Realty Investment Trust

    -0-                           01/16/2009
    /CONTACT:  Investor and Media Inquiries, Gina Birdsall, Investor
Relations, +1-301-998-8265,; or Janelle Stevenson,
Corporate Communications, +1-301-998-8185,, both
of Federal Realty Investment Trust/
             AP Archive:
             PRN Photo Desk,
    /Web Site: /

CO:  Federal Realty Investment Trust

ST:  Maryland

-- PH59762 --
3562 01/16/200910:43 EST