Mid-Atlantic Realty Trust Announces Purchase of Additional Pennsylvania Shopping Center

LUTHERVILLE, Md./PRNewswire/ -- Mid-Atlantic Realty Trust (MART) (NYSE: MRR) announced today that it has purchased the Pottstown Plaza Shopping Center located approximately 25 miles northwest of Philadelphia at the intersection of Pottstown Pike (PA Route 100) and State Street in Pottstown, Montgomery County, Pennsylvania. The shopping center totals approximately 160,000 square feet and is anchored by a 57,000 square foot Giant Food (Carlisle) supermarket. Other tenants include T.J. Maxx, Applebee's Restaurant, Radio Shack, Hair Cuttery, Sally Beauty, and CT Farm & Country, as well as other convenience retailers. The facility was purchased for $10,700,000 utilizing MART's line of credit.

Stated F. Patrick Hughes, President and Chief Executive Officer, "We are pleased to have acquired this neighborhood retail facility, anchored by a high volume Giant Food (Carlisle), a division of Royal Ahold. This center brings to 39 the number of shopping centers owned and operated by MART and is the 26th shopping center acquired or developed by MART since MART's initial public offering in September of 1993. Pottstown Plaza is the fifth Pennsylvania center purchased by MART since 1998, all grocery anchored."

MART is a fully integrated, self administered and self managed real estate investment trust (REIT) which owns, acquires, develops, redevelops, leases, and manages neighborhood and community shopping centers in the Middle Atlantic region. MART shares are traded on the New York Stock Exchange under the symbol "MRR".

A copy of this and other press releases, links to SEC filings and other information about MART are available at MART's website (http://www.martreit.com).

Statements made in this press release may include forward-looking statements under the federal securities laws. Statements that are not historical in nature, including the words "anticipate," "estimate," "should," "expect," "believe," "intend," "prospects," and similar expressions, are intended to identify forward-looking statements. While these statements reflect the Company's good faith beliefs, they are not guarantees of future performance and involve risk and uncertainties that could cause actual results to differ materially. The Company disclaims any obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise. For a discussion of risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements, see the Risk Factors contained in Exhibit 99.1 to the Company's form 10-K for the last fiscal year.

For further information, contact Mr. F. Patrick Hughes, President and Chief Executive Officer of MART, at (410) 684-2000.

SOURCE: Mid-Atlantic Realty Trust, 10/04/2001
CONTACT: F. Patrick Hughes, President and Chief Executive Officer of Mid-Atlantic Realty Trust, +1-410-684-2000
Website: http://www.martreit.com
(MRR)