Cedar Realty Trust Announces at-the-market Offering of 7.25% Series B Preferred Stock

Cedar Realty Trust, Inc.

today announced an "at-the-market" offering program under which it may from time to time sell up to 4 million shares of its 7.25% Series B Cumulative Redeemable Preferred Stock. In conjunction with this offering program, the Company filed today a prospectus supplement to the Company's prospectus dated May 2, 2012, filed as part of its effective shelf registration. The shares would be offered through MLV & Co. LLC, as the sales agent. Sales of the shares of Series B Preferred Stock, if any, are anticipated to be made primarily in transactions that are deemed to be "at the market" offerings within the meaning of Rule 415 of the Securities Act of 1933, as amended, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange or by privately negotiated transactions. The Company intends to use the net proceeds from the "at-the-market" offering program for general working capital and other corporate purposes, including potential future repurchases or redemptions of its outstanding 8.875% Series A Cumulative Redeemable Preferred Stock and/or the repayment of debt. The shares of Series B Preferred Stock have a liquidation preference of $25.00 per share, with no stated maturity, are not subject to any sinking fund and are redeemable, at the Company's option, beginning on May 22, 2017, at a redemption price of $25.00 per share plus accrued and unpaid distributions, as well as under certain other circumstances. The Company's outstanding shares of Series B Preferred Stock are listed and traded on the New York Stock Exchange under the symbol "CDR PrB." The shares of Series B Preferred Stock being sold in this offering have been approved for listing, subject to official notice of issuance, on the NYSE under the existing symbol.