WRI Weingarten Realty Investors

Weingarten Realty Investors Announces Sale of 2.4 Million Common Shares HOUSTON, Feb. 25 /PRNewswire-FirstCall/ -- Weingarten Realty Investors announced today that it has agreed to sell 2,400,000 common shares of beneficial interest to J.P. Morgan Securities Inc. All shares are being offered by the Company. J.P. Morgan Securities Inc. will act as sole bookrunning underwriter for the offering. The Company has also granted J.P. Morgan Securities Inc. an over-allotment option to purchase an additional 360,000 common shares. Weingarten intends to use the net proceeds from this offering to fund the redemption of a portion of its outstanding 7.00% Series C Cumulative Redeemable Preferred Shares and to reduce outstanding indebtedness under its revolving credit facility. This press release 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 wouldbe unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. A written prospectus meeting the requirements of the Securities Act of 1933, as amended, may be obtained from JPMorgan at 277 Park Avenue, New York, NY 10072, 212-552-5164. Weingarten Realty Investors is a Houston, Texas based real estate investment trust with 330 income-producing and new development properties in 19 states that span the southern part of the United States from coastto coast. Included in the portfolio are 269 neighborhood and community shopping centers and 61 industrial properties aggregating approximately 43.5 million square feet. Listed on the New York Stock Exchange, the Company's common shares are traded under the symbol "WRI". 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 as 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. http://www.newscom.com/cgi-bin/prnh/19991216/WRILOGO DATASOURCE: Weingarten Realty Investors CONTACT: Tracy Pursell of Weingarten Realty Investors, +1-713-866-6050 Web site: http://www.weingarten.com/

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