NXL New Plan Excel Rlty TR

New Plan Excel Realty Trust Announces Pricing of an Offering of 2,000,000 Shares of Common Stock NEW YORK, Aug. 19 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today announced that it has agreed to sell 2,000,000 of its common shares to Citigroup Global Markets Inc. The net proceeds of the offering will be approximately $50 million and will be used to repay a portion of the borrowings under the Company's $350 million revolving credit facility and in turn fund current and potential opportunistic acquisitions, as well as ongoing redevelopment efforts. Citigroup Global Markets Inc. acted as sole book-running manager for the offering. This communication 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 or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. A copy of the prospectus relating to these securities may be obtained when available from Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, NY 11220. New Plan Excel Realty Trust, Inc. is one of the nation's largest real estate companies, focusing on the ownership and management of community and neighborhood shopping centers. The Company operates as a self-administered and self-managed REIT, with a national portfolio of 401 properties, including 23 properties held through joint ventures, and total assets of approximately $3.7 billion. Its properties are strategically located across 34 states and include 375 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 54.6 million square feet of gross leasable area, and 26 related retail real estate assets, with approximately 2.2 million square feet of gross leasable area. For additional information, please visit http://www.newplan.com/. Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; financing risks; possible future downgrades in our credit ratings; property management risks; the level and volatility of interest rates; financial stability of tenants; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks, including risks that developments and redevelopments are not completed on time or on budget and strategies, actions and performance of affiliates that the Company may not control; potential environmental and other liabilities; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Business-Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2003, which discuss these and other factors that could adversely affect the Company's results. DATASOURCE: New Plan Excel Realty Trust, Inc. CONTACT: Stacy Lipschitz, Senior Vice President - Corporate Communications, New Plan Excel Realty Trust, Inc., +1-212-869-3000 ext. 3359 Web site: http://www.newplan.com/

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