Federal Realty Investment Trust (NYSE:FRT) today announced Donald Briggs, Executive Vice President of Development and Christopher Weilminster, President Mixed Use Division have been hired by Urban Edge Properties (NYSE:UE) where our understanding is that they will serve in similar capacities.

"Don and Chris have been my friends and partners during the entirety of my 20 year tenure at Federal Realty and I'll surely miss their friendship and professional contributions. They will both be terrific added resources for Jeff Olson and the Urban Edge team", said Don Wood, President and Chief Executive Officer. Wood went on to say that he is fully aware of Federal Realty's reputation for innovative, value enhancing real estate development which has been earned over decades with strong, deep and talented personnel in leasing, operations, development and finance trained in Federal's way of doing things. "While I'm certainly sad to see them go, I'm excited for others in our organization who will have the opportunity to assume and refine the mantle of value enhancing real estate development on both coasts."

Details on the ultimate timing of their departure and organizational reporting changes have yet to be decided.

About Federal Realty

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,000 tenants, in approximately 24 million square feet, and over 2,600 residential units.

Federal Realty has increased its quarterly dividends to its shareholders for 51 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.FederalRealty.com.