NXL New Plan Excel Rlty TR

NEW YORK, Oct. 20 /PRNewswire-FirstCall/ -- New Plan Excel Realty Trust, Inc. (NYSE:NXL) today announced that it intends to file with the Securities and Exchange Commission (the "Commission"), on or about November 3, 2006, a registration statement on Form S-3 (the "Registration Statement") for the resale of New Plan's previously issued 3.70% Convertible Senior Notes due 2026 (the "Notes") and the common stock, par value $0.01 per share, of New Plan, which may, under certain circumstances, become issuable upon conversion of the Notes (the "common stock" and, together with the Notes, the "Registrable Securities"). The Notes were originally sold to qualified institutional buyers by means of a private placement in accordance with Rule 144A under the Securities Act of 1933, as amended, on September 19, 2006; at the same time a Registration Rights Agreement (the "Registration Rights Agreement") was entered into between New Plan and the initial purchasers of the Notes, which requires the filing of the Registration Statement. New Plan will not receive any of the proceeds from the resale of the Registrable Securities by the selling securityholders. Selling securityholders specified in the Registration Statement may, once the Registration Statement is declared effective, use the prospectus contained therein to offer and resell the Securities covered by the Registration Statement. New Plan intends to file the Registration Statement as an automatic shelf registration statement in accordance with General Instruction I.D. of Form S-3, and thus anticipates that the Registration Statement will become effective upon filing thereof with the Commission (which is expected to occur on or about November 3, 2006). In accordance with the Registration Rights Agreement, in order for a beneficial holder of the Registrable Securities to be named as a selling securityholder and to have its Registrable Securities included in the Registration Statement, such holder must complete the Selling Securityholder Notice and Questionnaire, copies of which can be obtained by contacting the below person at New Plan, and return the completed and executed Notice and Questionnaire to New Plan on or before October 27, 2006. Steven Siegel Executive Vice President, General Counsel and Secretary New Plan 420 Lexington Avenue New York, NY 10170 Phone: 212-869-3000 Fax: 212-869-3989 Email: 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. New Plan is one of the nation's largest real estate companies, focusing on the ownership, management and development of community and neighborhood shopping centers. The Company operates as a self-administered and self-managed REIT, with a national portfolio of 480 properties, including 175 properties held through joint ventures, and total assets of approximately $3.4 billion. The properties are strategically located across 39 states and include 463 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 67.9 million square feet of gross leasable area, and 17 related retail real estate assets, with approximately 1.1 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 or 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; governmental approvals, actions and initiatives; 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 "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2005, 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.newplan.com/

Copyright