Glimcher Realty Trust Board of Trustees Declares Quarterly Dividend

Columbus, Ohio—March 12, 2009—Glimcher Realty Trust (NYSE: GRT), —

one of the country’s premier retail REITs, today announced that the company’s Board of Trustees has declared a quarterly cash dividend on its common shares and operating partnership units of $0.10 per common share/unit.  This cash dividend is payable on April 15, 2009 to shareholders and unitholders of record on March 31, 2009.

In addition, the company declared a quarterly cash dividend of $0.5469 per Series F preferred share of beneficial interest.  This cash dividend is payable on April 15, 2009 to shareholders of record on March 31, 2009.

Lastly, the company declared a quarterly cash dividend of $0.5078 per Series G preferred share of beneficial interest.  The cash dividend is payable on April 15, 2009 to shareholders of record on March 31, 2009.

Michael P. Glimcher, Chairman and Chief Executive Officer of the Company, said, “Given these unprecedented times in the capital markets, we have reduced our distributions to enhance short term liquidity.”

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