KANSAS CITY, MO (REIT Media) - Entertainment Properties Trust (NYSE:EPR) today announced that its Board of Trustees has declared a quarterly cash dividend of $0.65 per share for its common shares for the first quarter of 2009. The dividend is payable April 15, 2009 to shareholders of record as of March 31, 2009. This dividend represents an annualized dividend of $2.60 per common share.

David Brain, President and CEO, commented, “The common cash dividend declared today is a level that reflects our sustainable payment capability without including any cash income from financing provided for development projects in which the developer has not secured all of its required funding. Consistent with our equity raise during the first quarter of this year, this dividend level reflects a cautious position on cash retention and liquidity given the adverse conditions of the capital markets and the general economy.”

The Company also declared dividends on its four outstanding issues of preferred stock:

• 7.75% Series B Cumulative Redeemable Preferred dividend of $0.484375 per share payable April 15, 2009 to shareholders of record on March 31, 2009
• 5.75% Series C Cumulative Convertible Preferred dividend of $0.359375 per share payable April 15, 2009 to shareholders of record on March 31, 2009
• 7.375% Series D Cumulative Redeemable Preferred dividend of $0.4609375 per share payable April 15, 2009 to shareholders of record as of March 31, 2009
• 9.00% Series E Cumulative Convertible Preferred Shares dividend of $0.5625 per share payable April 15, 2009 to shareholders of record as of March 31, 2009

About Entertainment Properties Trust

Entertainment Properties Trust (NYSE:EPR) is a real estate investment trust (REIT) that develops, owns, leases and finances properties for consumer-preferred, high-quality businesses. EPR's investments are guided by a focus on inflection opportunities that are associated with or support enduring uses, excellent executions, attractive economics, and an advantageous market position. Our total assets exceed $2.6 billion and include megaplex movie theatres and entertainment retail centers, as well as other destination recreational and specialty investments. Further information is available at www.eprkc.com or from Jon Weis at 888-EPR-REIT or info@eprkc.com.

Entertainment Properties Trust
Jon Weis, 888-EPR-REIT
info@eprkc.com
www.eprkc.com

Source: Entertainment Properties Trust