NXL New Plan Excel Rlty TR

New Plan Excel Realty Trust Announces Offering of $100 Million of Ten-Year Senior Unsecured Notes NEW YORK, Jan. 10 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today announced that it has priced an issuance of $100 million of unsecured, 10-year fixed rate notes with a coupon of 5.30 percent. The notes were priced at 99.930 percent of par value to yield 5.309 percent. The notes are scheduled to settle on January 13, 2005, are due January 15, 2015, and are non-amortizing. Net proceeds from the offering will be used to repay a portion of the borrowings under the Company's $350 million revolving credit facility. Banc of America Securities LLC and Citigroup Global Markets Inc. served as joint book-running managers for the transaction. The co-managers were KeyBanc Capital Markets, UBS Securities LLC and Wachovia Capital Markets, LLC. 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. Copies of the prospectus relating to this offering, when available, may be obtained from Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, NY1-509-03-22, New York, NY 10001 (telephone 646-733-4166). 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 403 properties, including 24 properties held through joint ventures, and total assets of approximately $3.8 billion. Its properties are strategically located across 35 states and include 381 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 55.6 million square feet of gross leasable area, and 22 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; 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-Slater, Senior Vice President - Corporate Communications of New Plan Excel Realty Trust, Inc., +1-212-869-3000 ext. 3359 Web site: http://www.newplanexcel.com/

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