Glimcher Announces the Sale of Knox Village Square in Mount Vernon, Ohio

COLUMBUS, Ohio—May 1, 2008—Glimcher Realty Trust, (NYSE: GRT) — one of the country's premier retail REITs, announced that it completed the sale of Knox Village Square in Mount Vernon, Ohio on Thursday, May 1, 2008 to WP Realty Inc.  This community center was sold as part of the company's disposition program of its non-strategic assets.  

The company sold Knox Village Square for $9.5 million and the proceeds were used to pay down short-term borrowings under the company’s line of credit.   

About the Company

Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of regional and super-regional malls. At March 31, 2008, the Company's mall portfolio, including assets held through one of the Company's strategic joint ventures, consisted of 23 properties located in 14 states with gross leasable area totaling approximately 20.6 million square feet. The community center portfolio is comprised of four properties representing approximately 1.0 million square feet. 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.

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