ROCKVILLE, MD (REIT Media) Dec. 20, 2007 - Federal Realty Investment Trust (NYSE: FRT) today announced that it intends to issue 1.8 million common shares of beneficial interest.

Net proceeds from the offering will be used for general corporate purposes.

The joint book-running managers for the offering are Merrill Lynch & Co. and Wachovia Securities.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state. The common shares are being sold pursuant to an effective shelf registration statement. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. Copies of the prospectus supplement and related prospectus, when available, may be obtained from the offices of Merrill Lynch & Co., 250 Vesey Street, New York, NY 10080 (telephone: 212-449-1000) or Wachovia Securities, Equity Syndicate Dept., 375 Park Avenue, New York, N.Y., 10152 (e-mail: equity.syndicate@wachovia.com).

    Investor and Media Inquiries
    Andrew Blocher
    Senior Vice President,
    Capital Markets & Investor Relations
    301/998-8166
    ablocher@federalrealty.com

    Vikki Kayne, SCMD
    Vice President,
    Marketing & Corporate Communications
    301/998-8178
    vkayne@federalrealty.com