Retail Properties of America Recommends Rejection of $13.00/Share Mini-Tender Offer by Lapis

Retail Properties of America, Inc.

has been notified of an unsolicited mini-tender offer by Lapis Investment Business Trust (“Lapis”) dated May 10, 2013, to purchase up to 100,000 shares of all classes of common stock of RPAI for $13.00 per share. The offer expires on June 7, 2013. RPAI's Board of Directors unanimously recommends that its stockholders reject the mini-tender offer by Lapis. Lapis' offer price for the shares of Class A common stock represents a discount of approximately 13.8% to the $15.08 closing price of the Class A common stock on June 3, 2013 and 16.7% to the $15.61 closing price of the Class A common stock on May 9, 2013, the trading day prior to the