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FEDERAL REALTY CALLS FOR REDEMPTION

 BETHESDA, Md., Feb. 12 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that is has called for redemption on March 15, 1993, all of its outstanding 8-3/4 percent convertible subordinated debentures due 2010. The debentures will be redeemed at a price of $1017.50 per debenture plus accrued interest from Nov. 15, 1992, to the redemption date of $29.40, for a total of $1046.90 per $1,000 principal amount of debenture. The debentures are convertible at the option of the holder into shares of beneficial interest of the trust at a price of $16 per share or 62.5 shares per $1,000 principal amount of debenture. The closing price of the trust's shares on the New York Stock Exchange on Feb. 11, 1993, was $26-1/8 per share.
 Debentures may be surrendered for conversion up to the close of business on the redemption date. From and after March 15, 1993, no further interest will accrue upon the debentures.
 Federal Realty currently owns 42 neighborhood and community shopping centers primarily in the Mid-Atlantic region between the New York metropolitan area and Richmond, Va. The trust specializes in the acquisition of older, well-located centers which can be enhanced through renovation, expansion, re-configuration, and re-merchandising programs.
 -0- 2/12/93
 /CONTACT: M.J. Morrow, vice president-finance, Federal Realty Investment Trust, 301-652-3360/
 (FRT)


CO: Federal Realty Investment Trust ST: Maryland IN: FIN SU:

DC-TW -- DC013 -- 6189 02/12/93 13:51 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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