Conditions of Use

By using the web pages hosted by Federal Realty Investment Trust and its subsidiaries ("Federal Realty"), you agree to all of the terms and conditions outlined herein. If you do not agree with these Conditions of Use, please do not use the Federal Realty web site.

Changes

Federal Realty reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Conditions of Use, in whole or in part, at any time by posting revised Conditions of Use on the Federal Realty web site. Any change in these Conditions of Use will be effective when such change is posted. Your continued use of the Federal Realty web site after any change to these Conditions of Use are posted will be considered acceptance of that change.

Federal Realty may terminate, change, suspend, or discontinue at any time any aspect of the Federal Realty web site, including the availability of any features of the web site. Federal Realty also may impose limits on certain features and services or restrict your access to parts or all of the web site without notice or liability. Federal Realty may terminate the authorization, rights and license granted in these Conditions of Use.

Privacy

Please review our Privacy Policy. This policy provides additional information of which you should be aware when visiting the Federal Realty web site, including our policies for the collection, use and dissemination of personal and technical information.

Copyright and Trademarks

All content included on the Federal Realty web site, such as text, site plans, graphics, logos, button icons, images and software is the property of Federal Realty or its content suppliers and is protected by United States copyright, trademark or other laws.

The materials posted on the Federal Realty web site may be retrieved solely for your own personal use or in connection with any business relationship between you and Federal Realty and may be downloaded to your own hard disk or sent to a printer solely for that purpose. You may not copy, modify or distribute the contents of this web site without the express written permission of Federal Realty. As a condition of your use of this web site, you agree not to use the content included on this web site for any unlawful or prohibited use.

Use of Content

All information and content included on the Federal Realty web site is provided "as is" and without any warranty of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. You may assume that information is current only as of the date it is first posted on this web site. It is not Federal Realty's policy to update press releases, articles or other content on this site, and Federal Realty hereby expressly disclaims any duty or obligation to provide any such updates. Federal Realty makes no representations about the accuracy, completeness, timeliness or reliability of any content available through this web site. You are responsible for verifying the accuracy of any information presented on this site before relying on it in any way. Use of this web site and the content available on this web site is at your sole risk.

Links to Other Sites

This Federal Realty web site may contain links to web sites operated by other parties. The linked sites are not under the control of Federal Realty and Federal Realty is not responsible for the content available on any other internet sites linked to this web site. Such links do not imply Federal Realty's endorsement of material on any other site and Federal Realty disclaims all liability with regard to your access of such linked web sites. Federal Realty is providing these links to other internet sites as a convenience to users, and access to any other internet sites linked to this web site is at your own risk.

Securities of Federal Realty

Federal Realty is not providing investment advice through this web site, and the material on this web site should not be regarded as an offer to sell, or a solicitation of an offer to buy, any securities of Federal Realty. If you decide to use any material available on this web site in assessing whether to buy or sell securities of Federal Realty, please be aware that the material on this web site reflects past performance and historical information only and that such performance and information is not necessarily an indication of future performance. See "Safe Harbor Statement" below.

Safe Harbor Statement

Certain matters discussed within this Supplemental Information may be deemed to be forward-looking statements within the meaning of the federal securities laws.  Although Federal Realty believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained.  These factors include, but are not limited to, the risk factors described in our Annual Report on Form 10-K filed on February 15, 2011, and include the following: (a) risks that our tenants will not pay rent, may vacate early or may file for bankruptcy or that we may be unable to renew leases or re-let space at favorable rents as leases expire; (b) risks that we may not be able to proceed with or obtain necessary approvals for any redevelopment or renovation project, and that completion of anticipated or ongoing property redevelopment or renovation projects that we do pursue may cost more, take more time to complete or fail to perform as expected; (c)risks that the number of properties we acquire for our own account, and therefore the amount of capital we invest in acquisitions, may be impacted by our real estate partnerships; (d) risks normally associated with the real estate industry, including risks that occupancy levels at our properties and the amount of rent that we receive from our properties may be lower than expected, that new acquisitions may fail to perform as expected, that competition for acquisitions could result in increased prices for acquisitions, that costs associated with the periodic maintenance and repair or renovation of space, insurance and other operations may increase, that environmental issues may develop at our properties and result in unanticipated costs, and, because real estate is illiquid, that we may not be able to sell properties when appropriate; (e) risks that our growth will be limited if we cannot obtain additional capital; (f) risks associated with general economic conditions, including local economic conditions in our geographic markets; (g) risks of financing, such as our ability to consummate additional financings or obtain replacement financing on terms which are acceptable to us, our ability to meet existing financial covenants and the limitations imposed on our operations by those covenants, and the possibility of increases in interest rates that would result in increased interest expense; and (h) risks related to our status as a real estate investment trust, commonly referred to as a REIT, for federal income tax purposes, such as the existence of complex tax regulations relating to our status as a REIT, the effect of future changes in REIT requirements as a result of new legislation, and the adverse consequences of the failure to qualify as a REIT. Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements that we make, including those in this Supplemental Information.  Except as required by law, we make no promise to update any of the forward-looking statements as a result of new information, future events, or otherwise.  You should review the risks contained in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 15, 2011.

Search for Available Space

Federal Realty may from time to time provide to retailers and customers information about space in the Federal Realty portfolio that may be available for lease. Although we attempt to keep available space information current, we are unable to provide any assurance as to the accuracy of such information. All information is subject to change without notice. Under no circumstance is anything contained in this web site intended to be an offer or option to enter into a lease or an offer or option to negotiate a lease for any space within the Federal Realty portfolio.

Map and Directory Services

Driving directions, business listings and maps are provided by a third-party provider. Neither Federal Realty nor the third-party provider make any representations or guarantees as to the accuracy of any information or assume any liability or responsibility for any loss or damage arising out of inaccurate or incomplete information.

Limitation of Liability

Federal Realty shall not be liable for any direct, indirect, incidental, special, consequential, exemplary or other damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if Federal Realty has been advised of the possibility of such damages), resulting from: (a) your use of or inability to use this web site; (b) unauthorized access to or alteration or your transmissions or data; (c) any statement or conduct of any third-party on this web site; or (d) any other matter relating to this web site.

Controlling Law; Venue and Jurisdiction; Limitations

The Federal Realty web site is controlled and operated by Federal Realty in the United States and is intended for use in the United States. Federal Realty makes no representation that materials on this web site are appropriate or available for use in other locations. Those who choose to access this web site from other locations do so on their own initiative and are responsible for compliance with local laws. By visiting the Federal Realty web site, you agree that the laws of the State of Maryland, without regard to conflict of law principles, will govern these Conditions of Use and any dispute of any nature that may arise between you and Federal Realty in connection with this web site and the content hereof.

You and Federal Realty agree to submit to the personal and exclusive jurisdiction of the courts located in Montgomery County, Maryland. If any provisions of these Conditions of Use is found by a court to be invalid or unenforceable, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in this provision, and the other provisions of these Conditions of Use shall remain in full force and effect.