HTG Heritage Property Investment

Heritage Property Investment Trust, Inc. Announces Michael Joyce Joins Board of Directors BOSTON, June 22 /PRNewswire-FirstCall/ -- Heritage Property Investment Trust, Inc. (NYSE:HTG) ("Heritage" or the "Company"), announced today that Michael J. Joyce has joined its Board of Directors effective June 21, 2004. The Company previously announced that Mr. Joyce would join the Board following his retirement as an active partner from the public accounting firm, Deloitte & Touche LLP. Prior to his retirement, Mr. Joyce was the New England Managing Partner of Deloitte. Mr. Joyce joined the predecessor firm of Deloitte in 1967 and became an accounting and auditing partner in 1975. Simultaneously with his joining the Board, Mr. Joyce was also appointed to serve on the Audit Committee and was designated as the Board's "audit committee financial expert." Thomas C. Prendergast, Chairman, President and Chief Executive Officer of the Company said "We are delighted to have added to our Board of Directors a professional with Mike's track record in public accounting as well as in general public company management. Mike's experience and insight will strengthen our Board and his contributions to our Audit Committee will be extremely valuable as we implement corporate governance best practices. On behalf of our entire Board, I am looking forward to serving with him as we move forward with our business plan." Mr. Joyce serves on the board of Brandywine Realty Trust and has served on the boards of numerous civic, cultural and educational institutions, including the Boston Symphony Orchestra, the Greater Boston Chamber of Commerce, the Massachusetts Business Roundtable, the Philadelphia United Way, and the Board of Visitors of the Northeastern University Business School. 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 is one of the largest owners and operators of neighborhood and community shopping centers in the United States. Heritage focuses on grocer-anchored shopping centers with multiple anchors. As of March 31, 2004, Heritage had a shopping center portfolio of 162 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. Heritage's shopping center portfolio was approximately 91.2% leased as of March 31, 2004. Heritage is headquartered in Boston, Massachusetts and has an additional 16 regional offices located in the Eastern, Midwestern and Southwestern United States. Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements reflect the Company's current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause the Company's actual results to differ significantly from those expressed in any forward-looking statement. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could materially affect actual results. The factors that could cause actual results to differ materially from current expectations include financial performance and operations of the Company's shopping centers, including the Company's tenants, real estate conditions, current and future bankruptcies of the Company's tenants, execution of shopping center redevelopment programs, the Company's ability to finance the Company's operations, successful completion of renovations, completion of pending acquisitions, the availability of additional acquisitions, execution of joint venture opportunities, changes in economic, business, competitive market, leasing and regulatory conditions, acts of terrorism or war and other risks detailed from time to time in filings with the Securities and Exchange Commission. The forward-looking statements contained herein represent the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on such statements. 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, ; Analysts - Claire Koeneman, +1-312-640-6745, or General Info - Joe Calabrese, +1-212-445-8434, both of the Financial Relations Board, for Heritage Property Investment Trust, Inc.

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