Entertainment Properties Trust Provides Notice of Redemption of 7.375% Series D Cumulative Redeemable Preferred Shares

Entertainment Properties Trust

announced today that it delivered notice of its intention to redeem all 4,600,000 outstanding shares of its 7.375% Series D Cumulative Redeemable Preferred Shares (“Series D Preferred Shares”)

from the registered holders of the Series D Preferred Shares. Pursuant to the provisions of the Articles Supplementary Designating the Powers, Preferences and Rights of the Series D Preferred Shares supplementing the Company's Amended and Restated Declaration of Trust, as amended, the Company has taken action to redeem all outstanding Series D Preferred Shares on November 5, 2012. The Series D Preferred Shares will be redeemed in whole at a redemption price of $25.18 per Series D Preferred Share (the liquidation preference of $25.00 per share plus a quarterly dividend per share prorated through the redemption date of $0.18). On the redemption date, all Series D Preferred Shares will cease to accrue dividends. Shareholders who hold Series D Preferred Shares through the Depository Trust Company will be redeemed in accordance with the Depository Trust Company's procedures. On or before the redemption date, the funds necessary for the redemption of the Series D Preferred Shares will have been set aside by the Company in trust for the benefit of the holders thereof. Subject to applicable escheat laws, any moneys set aside by the Company and unclaimed at the end of two years from the redemption date will revert to the general funds of the Company, after which reversion the holders of the Series D Preferred Shares called for redemption may look only to the general funds of the Company for the payment of the redemption price. Upon deposit by the Company of the redemption price in trust for the account of the holders of the Series D Preferred Shares and from and after the redemption date, such shares will no longer be deemed to be outstanding and all rights with respect to such shares will cease and terminate (including, but not limited to, the right to receive dividends from and after the redemption date) except only the right of the holders thereof to receive, out of the funds so deposited in trust, from and after such date, the amount payable upon the redemption thereof, without interest.