NXL New Plan Excel Rlty TR

NEW YORK, Sept. 12 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today announced that it has priced an issuance of $125 million of senior unsecured, 7-year fixed rate notes with a coupon of 5.125 percent due September 15, 2012 and $125 million of senior unsecured, 10-year fixed rate notes with a coupon of 5.25 percent due September 15, 2015. The notes were priced at 99.919 percent of par value to yield 5.139 percent and at 99.372 percent of par value to yield 5.332 percent, respectively. The notes are scheduled to settle on September 19, 2005. Net proceeds from the offering will be used to redeem all $250 million of the Company's outstanding 5.875 percent senior unsecured notes that were due June 15, 2007 and previously called for redemption. J.P. Morgan Securities Inc., UBS Securities LLC and Wachovia Capital Markets, LLC served as joint book-running managers for the transaction. The co-managers were BNY Capital Markets, Inc., PNC Capital Markets, Inc. and SunTrust Capital Markets, Inc. 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 J.P. Morgan's Investment Grade Syndicate Desk, 270 Park Avenue, New York, New York 10017 (telephone 212-834-4533). 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 as of August 10, 2005 of 461 properties, including 150 properties held through joint ventures, and total assets as of June 30, 2005 of approximately $4.0 billion. The properties are strategically located across 39 states and include 441 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 63.1 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. 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, Inc. CONTACT: Stacy 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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