BETHESDA, MD (REIT Media) March 7, 2008 - Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.47 per share on its common stock, to be paid April 30, 2008 to holders of record on April 16, 2008. The amount of the common dividend payable is unchanged from the previous quarter and represents a $0.03 per share increase (6.8%) over the prior year's comparable quarter. The Company also declared the quarterly dividend for its 8% Series A Cumulative Redeemable Preferred Stock in the amount of $0.50 per depositary share. The preferred dividend will be paid April 15, 2008 to holders of record on April 4, 2008.

Saul Centers is a self-managed, self-administered equity real estate investment trust headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio of 48 community and neighborhood shopping center and office properties totaling approximately 8.0 million square feet of leasable area. Over 80% of the Company's cash flow is generated from properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers is available on the Company's website at http://www.saulcenters.com.