Urstadt Biddle Properties Inc. Announces Offering of 2,750,000 Shares of Class A Common Stock

GREENWICH, Conn.--(BUSINESS WIRE)--

Urstadt Biddle Properties Inc. (the "Company") UBA, a self-administered equity real estate investment trust, announced today that it is offering 2,750,000 shares of its Class A common stock in a public offering. In connection with the offering, the Company intends to grant the underwriter an option for 30 days to purchase an additional 412,500 shares of its Class A common stock.

Deutsche Bank Securities Inc. is acting as sole book-running manager for the offering.

The Company intends to use the net proceeds to repay in full the outstanding borrowings under the Company's existing credit facility, including borrowings incurred in connection with the completion of the acquisition of the Newfield Green Shopping Center in Stamford, CT, with any remaining proceeds to be used for general corporate purposes. Pending the use of the net proceeds as described above, the Company may use the net proceeds to make investments in short-term income-producing securities that are consistent with its qualification as a REIT.

All shares of Class A common stock will be offered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. A copy of the prospectus relating to these securities may be obtained, when available, by contacting Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611 or by emailing prospectus.cpdg@db.com.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 74 properties containing approximately 5.0 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 186 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 22 consecutive years.

This press release contains statements that constitute "forward-looking statements," including with regard to the Company's securities offering and the anticipated use of the net proceeds. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance can be given that the securities offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Completion of the securities offering on the terms described, and the application of net proceeds, are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in or incorporated by reference into the Risk Factors section of the Company's Registration Statement on Form S-3. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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