WRI Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) released today the Federal income tax treatment of its 2010 cash distributions to holders of its Common Shares of Beneficial Interest, its depositary shares of 6.75% Series D Cumulative Redeemable Preferred Shares, its depositary shares of 6.95% Series E Cumulative Redeemable Preferred Shares and its depositary shares of 6.50% Series F Cumulative Preferred Shares.

Distributions on common shares traded under the ticker symbol WRI were as follows:

                         

CUSIP

   

Declaration Date

   

Record Date

   

Payable Date

   

Distribution Per Share

948741103     02/24/2010     03/08/2010     03/15/2010     $0.26       05/06/2010     06/08/2010     06/15/2010     $0.26       08/05/2010     09/08/2010     09/15/2010     $0.26       11/05/2010     12/08/2010     12/15/2010     $0.26                   2010 Total     $1.04  

Common share distribution characterization is as follows (CUSIP 948741103):

                               

TaxableOrdinaryDividends

   

Total CapitalGainDistributions

   

UnrecapturedSec. 1250Gain (1)

   

Return of Capital(NondividendDistributions)

      $0.205739     $0.054261     $0.023812     $0.000000      

$0.205739

   

$0.054261

   

$0.023812

    $0.000000      

$0.205739

   

$0.054261

   

$0.023812

    $0.000000      

$0.205739

   

$0.054261

   

$0.023812

    $0.000000 Totals     $0.822956     $0.217044     $0.095248     $0.000000                

(1) Represents additional characterization of, and is a part of, “Total Capital Gain Distributions.”

Distributions on Weingarten’s 6.75% Series D Cumulative Redeemable Preferred Shares (NYSE: WRIPrD) were as follows:

                         

CUSIP

   

Declaration Date

   

Record Date

   

Payable Date

   

Distribution Per Share

948741509     02/24/2010     03/08/2010     03/15/2010     $0.421875       05/06/2010     06/08/2010     06/15/2010     $0.421875       08/05/2010     09/08/2010     09/15/2010     $0.421875       11/05/2010     12/08/2010     12/15/2010     $0.421875                   2010 Total     $1.687500  

Series D Preferred Share distribution characterization is as follows (CUSIP 948741509):

                               

TaxableOrdinaryDividends

   

Total CapitalGainDistributions

   

UnrecapturedSec. 1250Gain (1)

   

Return of Capital(NondividendDistributions)

      $0.333832     $0.088043     $0.038637     $0.000000      

$0.333832

    $0.088043     $0.038637     $0.000000      

$0.333832

    $0.088043     $0.038637     $0.000000      

$0.333832

    $0.088043     $0.038637     $0.000000 Totals     $1.335328     $0.352172     $0.154548     $0.000000                

(1) Represents additional characterization of, and is a part of, “Total Capital Gain Distributions.”

Distributions on Weingarten’s 6.95% Series E Cumulative Redeemable Preferred Shares (NYSE: WRIPrE) were as follows:

                         

CUSIP

   

Declaration Date

   

Record Date

   

Payable Date

   

Distribution Per Share

948741608     02/24/2010     03/08/2010     03/15/2010     $0.434375       05/06/2010     06/08/2010     06/15/2010     $0.434375       08/05/2010     09/08/2010     09/15/2010     $0.434375       11/05/2010     12/08/2010     12/15/2010     $0.434375                   2010 Total     $1.737500  

Series E Preferred Share distribution characterization is as follows (CUSIP 948741608):

                               

TaxableOrdinaryDividends

   

Total CapitalGainDistributions

   

UnrecapturedSec. 1250Gain (1)

   

Return of Capital(NondividendDistributions)

      $0.343723     $0.090652     $0.039782     $0.000000       $0.343723     $0.090652     $0.039782     $0.000000       $0.343723     $0.090652     $0.039782     $0.000000       $0.343723     $0.090652     $0.039782     $0.000000 Totals     $1.374892     $0.362608     $0.159128     $0.000000                

(1) Represents additional characterization of, and is a part of, “Total Capital Gain Distributions.”

Distributions on Weingarten’s 6.50% Series F Cumulative Redeemable Preferred Shares (NYSE: WRIPrF) were as follows:

                         

CUSIP

   

Declaration Date

   

Record Date

   

Payable Date

   

Distribution Per Share

948741889     02/24/2010     03/08/2010     03/15/2010     $0.406250       05/06/2010     06/08/2010     06/15/2010     $0.406250       08/05/2010     09/08/2010     09/15/2010     $0.406250       11/05/2010     12/08/2010     12/15/2010     $0.406250                   2010 Total     $1.62500  

Series F Preferred Share distribution characterization is as follows (CUSIP 948741889):

                               

TaxableOrdinaryDividends

   

Total CapitalGainDistributions

   

UnrecapturedSec. 1250Gain (1)

   

Return of Capital(NondividendDistributions)

      $0.321468     $0.084782     $0.037206     $0.000000       $0.321468     $0.084782     $0.037206     $0.000000       $0.321468     $0.084782     $0.037206     $0.000000       $0.321468     $0.084782     $0.037206     $0.000000 Totals     $1.285872     $0.339128     $0.148824     $0.000000                

(1) Represents additional characterization of, and is a part of, “Total Capital Gain Distributions.”

Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Weingarten Realty Investors cash distributions. For additional information, contact Weingarten’s Investor Relations Department.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a commercial real estate owner, manager and developer. At September 30, 2010, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 378 developed income-producing properties and 10 properties under various stages of construction and development. The total number of properties includes 307 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The company also owns 78 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. At September 30, 2010, the Company’s portfolio of properties was approximately 70.6 million square feet. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors, which may impact the Company’s performance.