NXL New Plan Excel Rlty TR

New Plan Excel Realty Trust Comments on Possible Australian Opportunities NEW YORK, April 14 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today confirmed that it is exploring possible opportunities in Australia involving certain of New Plan's community and neighborhood shopping centers. No agreement regarding any transaction has been reached and there is no assurance that any transaction will be consummated. The Company intends to comment further on or respond to questions regarding a possible transaction only if and when a definitive agreement is entered into and an announcement is made. 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 404 properties, including 26 properties held through joint ventures, and total assets of approximately $3.8 billion. Its properties are strategically located across 35 states and include 384 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 56.0 million square feet of gross leasable area, and 20 related retail real estate assets, with approximately 1.8 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 ownership / management risks; the level and volatility of interest rates and changes in capitalization rates with respect to the acquisition and disposition of properties; 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, 2004, which discuss these and other factors that could adversely affect the Company's results. DATASOURCE: New Plan Excel Realty Trust CONTACT: Stacy Slater, Senior Vice President, Corporate Communications, New Plan Excel Realty Trust, Inc., +1-212-869-3000, Web site: http://www.newplan.com/

Copyright