AmREIT Announces Next Steps in Vision 2010[TM] and Comments on Trading in Class A Common Shares.

HOUSTON -- AmREIT, a Houston-based real estate company that has elected to be taxed as a real estate investment trust, today announced that its Board of Trust Managers has approved in concept the merger of AmREIT with REITPlus, a Houston-based non-traded REIT that was sponsored by AmREIT in 2007. The merger will be subject to appraisal of both REITs' real estate properties, valuation by a third party investment banking firm of AmREIT's three classes of common stock, entry into a definitive merger agreement, approval of shareholders of both REITs and other customary closing conditions.

The anticipated merger is the next step in AmREIT's previously announced Vision 2010 strategic plan for repositioning the company as the leader in building value on Irreplaceable Corners[TM]. In late September AmREIT implemented Phase I of Vision 2010 which was focused on making our platform more efficient, reducing its overhead and G&A, and improving the dependability of its earnings. In December AmREIT began the process of simplifying its capital structure by removing the listing of its Class A shares to become a private company. With the proposed merger with REITPlus, AmREIT would re-domesticate in Maryland, which is REITPlus' state of organization and the jurisdiction where most REITs are organized, and would also combine all AmREIT capital stock into a single class of common shares, accomplishing its goal of simplifying its capital structure. The company believes these steps would better position it to raise Wall Street and/or institutional capital either through joint ventures, at the entity level or through an IPO and re-listing of its shares.

The company also commented that while its Class A shares had discontinued trading on the NYX on December 22, unbeknownst to AmREIT certain market makers had begun to make a market in Class A shares on the electronic network known as the "pink sheets." AmREIT did not request any market maker to trade its shares but cannot stop this activity or do anything about the pricing of AmREIT stock that has resulted. The company does not believe that the current price is an accurate reflection of the company, its assets or its long-term value. Prior to AmREIT notifying the market of its intention to discontinue trading its shares, the three sell-side securities analysts who covered AmREIT's Class A shares had price targets and/or net asset value estimates in the range of $8.50 to $10.00 per Class A share. The Company believes such range is more indicative of the value of its Class A shares than the prices at which its shares have traded, first on the NYX and then in the pink sheets, during the 4th quarter of 2008.

About AmREIT

AmREIT is a full service real estate company dedicated to providing the highest standard of service and value to its clients, partners and investors. For 25 years, AmREIT has delivered on its vision to become the Irreplaceable Corners[TM] company through investments, acquisitions, value add developments and management of high quality retail and mixed-use properties. AmREIT is headquartered in Houston, Texas and has an office in Dallas, Texas. To learn more, please visit our website at www.amreit.com.

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which AmREIT operates, management's beliefs and assumptions made by management. Past performance is not indicative of future returns. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.

For more information, call Chad Braun, Chief Financial Officer of AmREIT, at [phone]. AmREIT is online at www.amreit.com.