Acadia Realty Trust Confirms Release Date for Third Quarter 2004 Earnings; Earnings Conference Call Date and Time Unchanged.

NEW YORK -- Acadia Realty Trust (NYSE:AKR) ("Acadia") announced today that it will release its third quarter 2004 earnings on Monday, November 1 before market open. This is a change from the previously announced release date of Friday October 29 after market close so as to better conform to market practice. The date, time and dial-in information for Acadia's earnings conference call remains unchanged from the October 5, 2004 press release. Kenneth Bernstein, President and CEO, and Michael Nelsen, Sr. Vice President and CFO, will conduct a conference call later in the day Monday, November 1, at 2:00 p.m. EST to review the Company's earnings and operating results.

The live conference call can be accessed by dialing 888-339-2688 (internationally 617-847-3007). There is no passcode for the live call.

The call will also be webcast and can be accessed in a listen-only mode at Acadia's web site at www.acadiarealty.com.

If you are unable to participate during the live webcast, the call will be archived and available on Acadia's website. Alternatively, to access the replay by phone, dial 888-286-8010 (internationally 617-801-6888). The replay passcode will be 35386914. The phone replay will be available through Sunday, November 7, 2004.

Acadia Realty Trust, headquartered in White Plains, NY, is a fully integrated and self-managed real estate investment trust which specializes in the acquisition, redevelopment and operation of shopping centers which are anchored by grocery and value-oriented retail. The Company currently owns, or has interests in, and operates 70 properties totaling approximately 9 million square feet, located in the Northeast, Mid-Atlantic and Mid-West United States.

Certain matters in this press release may constitute forward-looking statements within the meaning of federal securities law and as such may involve known and unknown risk, uncertainties and other factors which may cause the actual results, performances or achievements of Acadia to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Acadia expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Acadia's expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based. The Company also refers you to the documents filed by the Company, from time to time, with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K, for a discussion of such risks and uncertainties.

For more information on Acadia Realty Trust visit the Company's Web site at www.acadiarealty.com.