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2.75 MILLION SHARES OF COMMON STOCK OF FEDERAL REALTY INVESTMENT TRUST SOLD

 2.75 MILLION SHARES OF COMMON STOCK
 OF FEDERAL REALTY INVESTMENT TRUST SOLD
 BETHESDA, Md., Dec. 5 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced that it has sold 2.5 million common shares, and a selling shareholder has sold 250,000 common shares to the public at a price of $18 per share. Alex. Brown & Sons Incorporated, Goldman, Sachs & Company, PaineWebber Incorporated and Legg Mason Wood Walker Incorporated are co-managing the offering. Proceeds of the offering will be primarily used to repay short-term lines of credit, to retire mortgages and to repurchase a portion of the trust's 5-1/4 percent convertible subordinated debentures. To the extent that proceeds are not used to fund the foregoing, they will be used for general purposes including ongoing property renovation and improvement programs.
 Federal Realty currently owns 42 neighborhood and community shopping centers and one enclosed mall 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, re-leasing and re-merchandising programs.
 -0- 12/5/91
 /CONTACT: Mary Jane Morrow, vice president - finance, Federal Realty Investment Trust, 301-652-3360/
 (FRT) CO: Federal Realty Investment Trust ST: Maryland IN: FIN SU: OFR


TW-DC -- DC020 -- 9814 12/05/91 16:21 EST
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Publication:PR Newswire
Date:Dec 5, 1991
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