HTG Heritage Property Investment

Heritage Property Investment Trust, Inc. Announces Redemption of 8.875% Series B Cumulative Redeemable Perpetual Preferred Units BOSTON, Feb. 26 /PRNewswire-FirstCall/ -- Heritage Property Investment Trust, Inc. ("Heritage" or the "Company"), todayreported that the redemption of all 8.875% Series B Cumulative Redeemable Perpetual Preferred Units of Bradley Operating Limited Partnership, one of its subsidiary operating partnerships, has been completed. All 2,000,000 of the outstanding Series B Preferred Units were redeemed on February 23, 2004 at a redemption price of $25.00 per unit, plus approximately $0.3266 of accrued and unpaid distributions, for an aggregate redemption price of approximately $25.3266 per unit. There were no unamortized issuance costs associated with the 8.875% Series B Cumulative Redeemable Perpetual Preferred Units, therefore, the Company did not incur a charge in connection with this redemption. ABOUT HERITAGE PROPERTY INVESTMENT TRUST, INC. Heritage is a fully integrated, self-administered and self-managed REIT traded on the New York Stock Exchange under the symbol "HTG". Heritage acquires, owns, manages, leases and redevelops primarily grocer-anchored neighborhood and community shopping centers in the Easternand Midwestern United States. As of December 31, 2003, the Company had a portfolio consisting principally of 162 shopping centers, located in 29 states and totaling approximately 32.7 million square feet of total gross leasable area, of which 27.5 million square feet is company-owned gross leasable area. The Company's shopping center portfolio was approximately 92.0% leased as of December 31, 2003. Heritage is headquartered in Boston, Massachusetts and has an additional 16 regional offices locatedin the Eastern and Midwestern United States. DATASOURCE: Heritage Property Investment Trust, Inc. CONTACT: Patrick O'Sullivan, Vice President, Finance and Accounting of Heritage Property Investment Trust, Inc., +1-617-247-2200, ; or Analysts, Claire Koeneman, +1-312-640-6745, or General, Joe Calabrese, +1-212-445-8434, both of Financial Relations Board

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