NXL New Plan Excel Rlty TR

New Plan Excel Realty Trust Announces Tax Allocations of 2004 Dividend Distributions NEW YORK, Jan. 14 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today announced the tax allocations of the 2004 dividend distributions on its Common Shares and Preferred Shares. Dividends paid on Common Shares totaled $1.65 per share in 2004. COMMON SHARES (NYSE:NXL); CUSIP #648053106 Payment Paid Per Ordinary Dividend Long-Term Return of Dates Share Income Per Share Capital Gain Capital (Non-taxable) 1/15/04 $ 0.4125 $ 0.297123 - $ 0.115377 4/15/04 $ 0.4125 $ 0.297123 - $ 0.115377 7/15/04 $ 0.4125 $ 0.297123 - $ 0.115377 10/15/04 $ 0.4125 $ 0.297123 - $ 0.115377 Totals $ 1.6500 $ 1.188492 - $ 0.461508 7.80 PERCENT SERIES D CUMULATIVE STEP-UP PREMIUM RATE; CUSIP #648053700 Payment Paid Per Ordinary Dividend Long-Term Return of Dates Share Income Per Share Capital Gain Capital (Non-taxable) 1/15/04 $ 0.975 $ 0.975 - - 4/15/04 $ 0.975 $ 0.975 - - 7/15/04 $ 0.975 $ 0.975 - - 10/15/04 $ 0.975 $ 0.975 - - Totals $ 3.900 $ 3.900 - - 7.625 PERCENT SERIES E CUMULATIVE REDEEMABLE PREFERRED (NYSE:NXLprE); CUSIP #648053809 Payment Paid Per Ordinary Dividend Long-Term Return of Dates Share Income Per Share Capital Gain Capital (Non-taxable) 1/15/04 $ 0.47656 $ 0.47656 - - 4/15/04 $ 0.47656 $ 0.47656 - - 7/15/04 $ 0.47656 $ 0.47656 - - 10/15/04 $ 0.47656 $ 0.47656 - - Totals $ 1.90624 $ 1.90624 - - The Company did not incur any foreign taxes in 2004. The fourth quarter distributions declared on October 28, 2004, with a record date of January 3, 2005 and payable on January 18, 2005, are reportable for tax purposes in 2005. 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 Web site: http://www.newplanexcel.com/

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