ROCKVILLE, MD (REIT Media) - Federal Realty Investment Trust (NYSE: FRT) today announced the promotions of Robin McBride to vice president, asset management for the East Coast, and Randy Paul to vice president, development for the West Coast. In addition, Federal Realty announced that Patrick Inaba, senior director, tenant services, has been admitted to Federal Realty's Leadership, Education, and Development (LEAD) Program. The LEAD Program is an internal management training program designed to develop leadership qualities in the company's next generation of senior management. Since 2005, four graduates of the LEAD program have been promoted to Vice President positions within Federal Realty.

"These additions to the senior management team demonstrate the result of our focus on identifying and developing talent from within our solid foundation of qualified and dedicated employees," commented Donald Wood, Federal Realty's president and chief executive officer.

Robin McBride has assumed the role of vice president, asset management for the East Coast, with primary responsibility for the value creation, forecasting and operations of Federal Realty's East Coast portfolio. Ms. McBride has over 14 years of experience in real estate, retail asset management and accounting from prior positions with Ernst & Young, Lend Lease Real Estate Investments and KeyBank Real Estate Capital. During her time at Federal Realty she has managed the development financial analysis department as well as asset managed the company's most complicated mixed-use development projects. Ms. McBride is a certified public accountant and holds a MBA from Georgia State University and a bachelor's degree in accounting from Florida A&M University.

Randy Paul has assumed the role of vice president, development for the West Coast. In this capacity, Mr. Paul is responsible for executing all property development strategies throughout the region including development of the remaining entitlements at Santana Row, Federal Realty's premier West Coast mixed-use property. In his 27 years in the real estate industry, Mr. Paul has successfully utilized a process-based approach to the planning, feasibility, design and execution of over 4.5 million square feet of development projects. Prior to joining Federal Realty in 2005, Mr. Paul held the position of vice president - project & development services with Jones Lang LaSalle. Mr. Paul began his career as an architect and holds Bachelor of Science and Master of Architecture degrees from the University of Wisconsin - Milwaukee.

Patrick Inaba has been admitted to Federal Realty's LEAD program. Mr. Inaba has been an employee of Federal Realty since 2006 as senior director, tenant services. In this role, Mr. Inaba is responsible for the oversight of the company's tenant services department which handles tenant improvement project management and tenant coordination for development and operating properties. Prior to joining Federal Realty, Mr. Inaba was employed by The Mills Corporation as group vice president, tenant services. Mr. Inaba received a Bachelor of Arts in economics from the University of California, Irvine, is a licensed General Contractor (California), and recently earned the ICSC designation Certified Development, Design & Construction Professional (CDP).

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 strategic 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 96.7% leased to national, regional, and local retailers as of December 31, 2007, with no single tenant accounting for more than approximately 2.5% 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 40 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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