Regency Centers Reports Macquarie Ownership Increase in First Washington Portfolio.

JACKSONVILLE, Fla. -- Regency Centers Corporation (NYSE:REG) announced today that its partner, Macquarie CountryWide Trust of Australia ("MCW"), purchased an additional 10.05% interest in the joint venture that holds the CalPERS/First Washington properties. The additional purchase is on the same terms as the original purchase agreement and reflects a purchase price of $270 million. Regency and MCW acquired the First Washington portfolio in June 2005 for $2.7 billion. Macquarie now has a 75% ownership interest in the venture and Regency's interest is reduced to 24.95% from 35%.

Regency Centers Corporation (NYSE:REG)

Regency is the leading national owner, operator, and developer focused on grocery-anchored, neighborhood and community retail centers. At September 30, 2005, the Company owned 389 retail properties, including those held in joint ventures. Including tenant-owned square footage, the portfolio encompassed 49.8 million square feet located in top markets throughout the United States. Since 2000 Regency has developed 134 shopping centers, including those currently in-process, representing an investment at completion of approximately $1.7 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Regency Centers Corporation with the SEC, specifically the most recent reports on forms 10K and 10Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.