Excel Trust Announces Public Follow−on Offering of 8.5 Million Shares of Common Stock

  Excel Trust Announces Public Follow−on Offering of 8.5 Million Shares of
  Common Stock

Business Wire

SAN DIEGO -- October 24, 2012

Excel Trust, Inc. (NYSE:EXL), a retail focused real estate investment trust
(REIT), announced today that it is commencing an underwritten public offering
of 8.5 million shares of common stock. The Company has granted to the
underwriters an option to purchase up to an additional 1.275 million shares
within thirty days after the offering. All shares are being offered by the

The Company intends to use the net proceeds from the offering to repay
existing indebtedness under its unsecured revolving credit facility incurred
in connection with the recent acquisition of five retail shopping centers and
a 50% interest in a sixth retail property for approximately $262.8 million,
and for other general corporate and working capital purposes.

BofA Merrill Lynch, Morgan Stanley, and Raymond James are joint book-running
managers for the offering.

The common stock will be issued pursuant to an effective registration
statement on Form S−3 that was previously filed with the Securities and
Exchange Commission. This press release does not constitute an offer to sell
or the solicitation of an offer to buy any of the offered shares, nor shall
there be any sale of such shares in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other

A copy of the prospectus supplement and accompanying prospectus related to the
offering will be filed with the Securities and Exchange Commission and can be
obtained, when available, from BofA Merrill Lynch, 222 Broadway, New York, New
York 10038, Attn: Prospectus Department, or by email at
dg.prospectus_requests@baml.com; Morgan Stanley Prospectus Department, 180
Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Dept. or
by email at prospectus@morganstanley.com; or Raymond James, 880 Carillon
Parkway, St. Petersburg, FL 33716 or by email at prospectus@raymondjames.com.

About Excel Trust

Excel Trust, Inc. is a retail focused real estate investment trust (REIT) that
primarily targets community and power centers, grocery anchored neighborhood
centers and freestanding retail properties. The Company has elected to be
treated as a REIT for U.S. federal income tax purposes. Excel Trust trades
publicly on the NYSE under the symbol "EXL".

Forward-Looking Statements

This press release may contain statements that are forward-looking, as that
term is defined by the Private Securities Litigation Reform Act of 1995 or by
the Securities and Exchange Commission in its rules, regulations and releases.
These statements include, but are not limited to, discussions related to the
Company’s expectations regarding the performance of its business, its
liquidity and capital resources and other non-historical statements. These
forward-looking statements are based on management’s beliefs, as well as
assumptions made by, and information currently available to, management. When
used in this release, the words "believe," "anticipate," "estimate," "expect,"
"intend" and similar expressions are intended to identify forward-looking
statements. Although management believes that the expectations reflected in
these forward-looking statements are reasonable, it can give no assurance that
these expectations will prove to have been correct. For a list and description
of risks and uncertainties that could cause actual results to differ
materially from expectations, see the reports filed by the Company with the
Securities and Exchange Commission, including the Company’s most recent annual
report on Form 10-K. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.


Excel Trust, Inc.
Matt Romney, SVP, Capital Markets
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