LA MADELEINE COUNTRY FRENCH CAFÉ REVEALS PLANS TO RE-OPEN CAFÉ AND BAKERY AT PIKE & ROSE IN FALL 2014

ROCKVILLE, Md. (March 27, 2014) – Federal Realty Investment Trust  (NYSE:FRT) – La Madeleine Country French Café revealed plans to re-open its restaurant and bakery concept in the ground-level retail portion of the PerSei apartment building at Pike & Rose, a mixed-use Transit-Oriented Development currently under construction in the North Bethesda area of Montgomery County, Maryland. La Madeleine closed its location within the Mid-Pike Plaza shopping center January 19, after nearly twenty years of continuous operation at the site, due to the upcoming demolition of the remaining portion of the center. The Dallas-based chain, which presently operates seven other locations around the Greater Washington, D.C. metropolitan region, expects their new café bakery to be operational in fall 2014.

Pike & Rose is a project of Federal Realty Investment Trust (NYSE:FRT). When fully built out, it will include 3.4 million square feet of mixed-use development containing 1.1 million square feet of commercial office space; 430,000 square feet of complementary retail space; 1500 residential units; a boutique hotel and approximately 4000 parking spaces. The project is positioned within walking distance to the White Flint Metro Station and minutes away from I-270 and 495 (Capital Beltway).

PerSei, located at 900 PerSei Place and offering 174 apartment homes, ranging from junior one-bedrooms to two-bedrooms with one den is anticipated to be completed in May and ready for occupancy. La Madeleine will join Lettuce Entertain You’s Summer House, as well as a new concept from the Neighborhood Restaurant Group in the retail section which forms the base of the building. Additional restaurants and retailers will be announced in the near future.

La Madeleine opened its inaugural Washington, D.C. location in the Bethesda area in February 1994, and the Mid-Pike Plaza bakery and café approximately three months later. The Country French Café is recognized for its French-inspired, freshly prepared breakfast, lunch and dinner items, including its famous tomato-basil soupe and chicken Caesar salade. The bakery features daily-prepared patisseries, viennoiserie and freshly-baked breads, and signature items including fresh fruit tart, sacher torte, butter and specialty croissants.

“The closing of our Mid-Pike café was bittersweet, as it was affectionately known as a ‘Mother Bakery.’ In its early days, it made twice-daily delivery of breads and pastries to various ‘daughter’ cafés around the suburban Maryland and DC market,” explained Susan Dederen, Senior Director of Culinary for La Madeleine. “The bakery was home to several test initiatives, including an authentic water wheel intended to grind grains into flour for our breads, as well as a house coffee roaster to roast beans on-site. Distinguishing architectural elements were the expansive windows that bathed early-morning customers with warm sunlight, its many small rooms utilized for intimate meetings and the wine cave that accommodated small groups of people.

“After nearly two decades of operation, we were fortunate to serve a loyal following of local residents and businesspeople in the Rockville and White Flint area. We look forward to welcoming those loyal guests back to the new café and also hope to introduce our brand to new guests at Pike & Rose. The new neighborhood will offer a dynamic environment for La Madeleine. Fortunately, the gap between our closing and the beginning of a new La Madeleine era in Rockville will be relatively brief,” she added.

La Madeleine currently operates approximately 65 locations nationally and anticipates opening two additional restaurants in the suburban Maryland/Northern Virginia region within the next year.

“La Madeleine is among a number of former Mid-Pike Plaza tenants that plan to relocate to Pike & Rose and leverage the long-term customer relationships they have established in the Rockville area,” said Evan Goldman, Vice President, Development for Federal Realty Investment Trust. “The café and bakery has consistently been one of the few gathering spots for the local community in and around the Pike over the past few decades. They will contribute a fresh new look with the same great food throughout the day to Pike & Rose and remain a fixture of the local community.”

La Madeleine joins the collection of restaurants that have signed leases in Phase I of Pike & Rose including Lettuce Entertain You’s Summer House, Del Frisco’s Grille, Protein Bar, Roti Mediterranean Grille, ShopHouse Southeast Asian Kitchen and the Neighborhood Restaurant Group.

About Pike & Rose

Located at the key intersection of Rockville Pike and Montrose Parkway in the heart of the White Flint District in Montgomery County, Md., Pike & Rose will be a pedestrian-oriented, urban-minded, mixed-use neighborhood across 24 acres. A key component in the area’s revitalization efforts, Pike & Rose will encompass 450,000 square feet of retail, 1.1 million square feet of office space, 1,500 residential units and a 300-room boutique hotel at full build out, all a few blocks from the White Flint Metro Station.

Pike & Rose will incorporate the best of what Federal Realty has created at its other mixed-use properties across the country. Like Santana Row in San Jose, Calif., and Bethesda Row in Bethesda, Md., Pike & Rose will feature ground floor retail with apartments, offices and hotel space above - all located amidst a carefully orchestrated environment of open plaza parks, creative common areas, events, street festivals, a farmers market, music and more. Shoppers, guests and patrons alike will walk, shop, eat, live and work in an experience designed for them. From one of the first rooftop garden plots for rent in the county to a new path of streets lined with a mix of the area's most vibrant shops, eateries and entertainment, Pike & Rose will be the area's must-experience destination. Phase One of the project includes two residential buildings, an 80,000 square foot Class A office building and 150,000 square feet of retail and will deliver in 2014.

About Federal Realty Investment Trust

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 95.8% leased to national, regional, and local retailers as of December 31, 2013, with no single tenant accounting for more than approximately 3.5% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 46 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.