Scottsdale Quarter Named Best Retail Project

Scottsdale, AZ - March 10, 2010 - Glimcher Realty Trust (NYSE: GRT), Scottsdale Quarter, —

developed by Glimcher Realty Trust, was recognized at the 5th annual RED Awards Reception, held Thursday, March 4 at the Ritz Carlton in Phoenix. The event, organized by Arizona Commercial Real Estate (AZRE) magazine, recognized the biggest, best and most notable commercial real estate projects of 2009.

“We are honored to receive the Best Retail Project award,” said Michael Glimcher, chairman and CEO of Glimcher Realty Trust, owner, developer and manager of the property. “This validates so much of the hard work of the entire Glimcher team. However, we’re not stopping here – this just gives us a good benchmark for excellence and we will continue to try to meet and exceed expectations.”

Scottsdale Quarter will open in phases over the next several years with a public celebration in October 2010. The 28-arce project will provide the region with approximately 370,000 square feet of entertainment and 205,000 square feet of office space amid elegant, diverse architecture and lush landscaping. The project also includes a hotel and residential component that will be developed by others independently from the retail and office space being developed by Glimcher. Construction on the lifestyle center began October 2007. Scottsdale Quarter sits on the southeast corner of Scottsdale Road and the Greenway-Hayden Loop.

About Glimcher Realty Trust

Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of malls, which includes enclosed regional malls and open-air lifestyle centers, as well as community centers. At December 31, 2009, the Company’s mall portfolio consisted of 21 operating properties with gross leasable area totaling approximately 19.1 million square feet and one development property, Scottsdale Quarter. The community center portfolio is comprised of four properties representing approximately 779,000 square feet. The Company’s portfolio of properties are located throughout 13 states.

Glimcher Realty Trust’s common shares are listed on the New York Stock Exchange under the symbol “GRT.” Glimcher Realty Trust’s Series F and Series G preferred shares are listed on the New York Stock Exchange under the symbols “GRT-F” and “GRT-G,” respectively. Glimcher Realty Trust is a component of both the Russell 2000® Index, representing small cap stocks, and the Russell 3000® Index, representing the broader market. Visit Glimcher at: www.glimcher.com

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