FEDERAL REALTY BEGINS FAÇADE IMPROVEMENTS AT BARRACKS ROAD SHOPPING CENTER

ROCKVILLE, MD – April 21, 2011 – (RealEstateRama) — Federal Realty Investment Trust (NYSE:FRT) today announced that the Barracks Road Shopping Center in Charlottesville, Virginia will undergo façade enhancements beginning in May 2011. The renovation will take place in two phases beginning with the main building and concluding with the north wing in 2012. Improvements will include a new canopy roof and façade as well as the redesign of the canopy columns. The fountain court will also be renovated in 2012 to create an inviting open-air gathering place for events and additional seating for outdoor dining.