$225 Million Unsecured Credit Facility Announced by Commercial Net Lease Realty, Inc.; Term Extended to 2006 and Pricing Reduced to LIBOR + 100 Basis Points.

Business Editors/Real Estate Writers

ORLANDO, Fla.--(BUSINESS WIRE)--May 12, 2003

Commercial Net Lease Realty, Inc. (NYSE:NNN), an equity real estate investment trust, announced today that it has amended its existing $200 million unsecured credit facility, extending its maturity to May 2006, reducing the facility's interest rate to LIBOR plus 100 basis points and increasing its borrowing capacity to $225 million. The new facility also provides for a competitive bid option for up to 50% of the facility amount.

Wachovia Securities, Inc. acted as the Sole Lead Arranger and Book Manager. Titled Agents include Wachovia Bank, National Association as the Administrative Agent, Wells Fargo Bank, N.A. as the Syndication Agent and AmSouth and SunTrust Bank as Documentation Agents. Other participating institutions include Bank of America, Comerica Inc., Chevy Chase Bank, FSB, PNC Bank, N.A. and CitiCorp North America, Inc.

Kevin B. Habicht, Executive Vice President and Chief Financial Officer, noted, "Maintaining borrowing capacity and financial flexibility while reducing pricing and renewing this facility several months early is an important accomplishment for the company. We are very appreciative of the bank group's continued support and confidence in the Company."

Commercial Net Lease Realty, an equity real estate investment trust, invests in high-quality, freestanding single tenant properties subject to long-term, net leases with major corporate tenants, such as Barnes & Noble, Best Buy, Eckerd and OfficeMax. The Company currently owns, either directly or through investment interests, 345 properties in 39 states with total gross leasable area of approximately 6.7 million square feet. These properties are leased to 117 retailers in 43 lines of trade. The Company has increased annual dividends paid per share for 13 consecutive years.