PREIT Reports Tax Status of 2012 Distributions

  PREIT Reports Tax Status of 2012 Distributions

Business Wire

PHILADELPHIA -- January 17, 2013

Pennsylvania Real Estate Investment Trust (NYSE: PEI) today announced that the
tax status of the distributions paid per share during 2012 is as follows:


COMMON SHARES                           IRS Form 1099-DIV
CUSIP: 709 102 107                      2012          Box 1a      Long Term Capital Gain        Box 3
NYSE Ticker Symbol: PEI                                           Box 2a        Box 2b        
Record      Ex-Dividend  Payable        Total          Ordinary      Total         Unrecaptured     Nontaxable
                                                                       Capital
Date         Date          Date           Distribution   Dividends     Gain           Sec. 1250        Distributions
                                                                       Distribution
                                   Per Share                             Gain           
3/1/2012    2/28/2012    3/15/2012    $0.150000     $0.000000   $0.000000     $0.000000      $0.150000
6/1/2012    5/30/2012    6/15/2012    $0.160000     $0.000000   $0.000000     $0.000000      $0.160000
8/31/2012   8/29/2012    9/17/2012    $0.160000     $0.000000   $0.000000     $0.000000      $0.160000
11/30/2012  11/28/2012   12/17/2012   $0.160000     $0.000000   $0.000000     $0.000000      $0.160000
Totals for 2012                       $0.630000     $0.000000   $0.000000     $0.000000      $0.630000
                                                                                      
8.25% Series A - PREFERRED SHARES       IRS Form 1099-DIV
CUSIP: 709 102 404                        2012           Box 1a        Long Term Capital Gain          Box 3
NYSE Ticker Symbol: PEIPrA                                        Box 2a        Box 2b        
Record       Ex-Dividend   Payable        Total          Ordinary      Total          Unrecaptured     Nontaxable
                                                                       Capital
Date         Date          Date           Distribution   Dividends     Gain           Sec. 1250        Distributions
                                                                       Distribution
                                   Per Share                             Gain           
6/1/2012    5/30/2012    6/15/2012    $0.315100     $0.000000   $0.000000     $0.000000      $0.315100
8/31/2012   8/29/2012    9/17/2012    $0.515625     $0.000000   $0.000000     $0.000000      $0.515625
11/30/2012  11/28/2012   12/17/2012   $0.515625     $0.000000   $0.000000     $0.000000      $0.515625
Totals for 2012                       $1.346350     $0.000000   $0.000000     $0.000000      $1.346350
                                                                                      
7.375% Series B - PREFERRED SHARES      IRS Form 1099-DIV
CUSIP: 709 102 503                        2012           Box 1a        Long Term Capital Gain          Box 3
NYSE Ticker Symbol: PEIPrB                                        Box 2a        Box 2b        
Record       Ex-Dividend   Payable        Total          Ordinary      Total          Unrecaptured     Nontaxable
                                                                       Capital
Date         Date          Date           Distribution   Dividends     Gain           Sec. 1250        Distributions
                                                                       Distribution
                                   Per Share                             Gain           
11/30/2012  11/28/2012   12/17/2012   $0.327778     $0.000000   $0.000000     $0.000000      $0.327778
Totals for 2012                       $0.327778     $0.000000   $0.000000     $0.000000      $0.327778
                                                                                                                     

The above reflects the per share amounts of distributions paid by PREIT on its
outstanding common shares and its Series A and Series B preferred shares
during 2012, which will be reported on IRS Form 1099-DIV. Shareholders are
encouraged to consult with their tax advisors regarding the inclusion of these
amounts on Federal income tax returns as applicable.

This release is based on the preliminary results of work on the Company's tax
filings and is subject to correction or adjustment when the filings are
completed. The Company is releasing information at this time to aid those
required to distribute Forms 1099 on the Company's distributions. No material
change in these classifications is expected.

Information about distributions paid for common and preferred shares can also
be found at the website of the National Association of Real Estate Investment
Trusts (NAREIT), www.reit.com, or by contacting NAREIT by phone at (800)
3-NAREIT or (800-362-7348).

About Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the
first equity REITs in the U.S., has a primary investment focus on retail
shopping malls. Currently, the Company's portfolio of 47 properties comprises
37 shopping malls, seven community and power centers, and three development
properties. The Company’s properties are located in 13 states in the eastern
half of the United States, primarily in the Mid-Atlantic region. The operating
retail properties have approximately 31.9 million total square feet of space.
PREIT, headquartered in Philadelphia, Pennsylvania, is publicly traded on the
NYSE under the symbol PEI. The Company's website can be found at
www.preit.com.

      Additional information about PREIT is available on www.preit.com.

Contact:

Pennsylvania Real Estate Investment Trust
Robert McCadden, 215-875-0735
EVP & CFO
or
Heather Crowell, 215-875-0735
VP, Corporate Communications and Investor Relations