Urstadt Biddle Properties Inc. Announces Increases in Quarterly Dividends on Class A Common and Common Shares.

Increases Dividends for Thirteenth Consecutive Year

GREENWICH, Conn. -- At their regular meeting, the Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP), approved an increase in the quarterly dividends on the Company's Class A Common Stock and Common Stock. The dividends were declared in the amounts of $0.23 for each share of Class A Common Stock and $0.2075 for each share of Common Stock. The dividends are payable January 19, 2007 to stockholders of record on January 5, 2007. The dividends were increased from the previous quarterly rates of $0.225 per Class A common share and $0.2025 per Common share, and represent the 148th consecutive quarterly dividend on common shares declared since the Company began operating in 1969 and the thirteenth consecutive annual increase in the dividend rates.

The Directors of UBP also declared the regular quarterly dividends on the Company's Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock. The dividends were declared in the amount of $2.2475 for each share of Series B Preferred Stock, $2.125 for each share of Series C Preferred Stock and $0.46875 for each share of Series D Preferred Stock. The dividends are payable January 31, 2007 to stockholders of record on January 19, 2007.

UBP is a self-administered equity real estate investment trust providing investors with a means of participating in ownership of income-producing properties and investment liquidity. UBP owns 37 properties containing 3.7 million square feet of space. UBP's core properties consist principally of community shopping centers located in the northeast with a concentration in Fairfield County, Connecticut and Westchester and Putnam Counties, New York.