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FEDERAL REALTY INVESTMENT TRUST FILES REGISTRATION STATEMENT COVERING 2,500,000 SHARES

 BETHESDA, Md., March 12 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that it filed a registration statement with the Securities and Exchange Commission today, covering the proposed public offering of 2,500,000 common shares. Merrill Lynch & Co., Alex. Brown & Sons Inc., Kidder Peabody & Co. and Dean Witter Reynolds Inc. will co-manage the proposed offering. Net proceeds from the sale of the shares are expected to be used to prepay debt -- principally its 8.65 percent senior notes due 1996 and the 9-3/4 percent plus participation mortgage on Laurel Shopping Center. Any remaining proceeds are expected to be used for property acquisitions and improvements and working capital.
 Copies of the offering prospectus may be obtained from Merrill Lynch & Co., Merrill Lynch World Headquarters, World Financial Center, 250 Vesey St., Ground Floor, New York, N.Y. 10281-1209; Alex. Brown & Sons Incorporated, 135 E. Baltimore St., Baltimore, Md. 21202; Kidder Peabody & Co. Incorporated, 10 Hanover Square, New York, N.Y. 10005; and Dean Witter Reynolds, Inc., 919 3rd Ave., 25th Floor, New York, N.Y. 10022; or other offices of Merrill Lynch & Co., Alex. Brown & Sons Incorporated or other members of the underwriting and selling groups; or from Federal Realty Investment Trust, 4800 Hampden Lane, Suite 500, Bethesda, Md. 20814.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Federal Realty currently owns 42 neighborhood and community shopping centers located along the East Coast in the 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. The trust has made 121 consecutive quarterly dividends and has increased its dividend rate for each of the last 25 years. The current indicated annual dividend rate is $1.54.
 -0- 3/12/93
 /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:

DC -- DC001 -- 5419 03/12/93 09:43 EST
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Publication:PR Newswire
Date:Mar 12, 1993
Words:423
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