Saul Centers, Inc. Announces Redemption of All Outstanding Shares of 9% Series B Cumulative Redeemable Preferred Stock

Saul Centers, Inc. Announces Redemption of All Outstanding Shares of 9% Series
   B Cumulative Redeemable Preferred Stock Represented by Depositary Shares

PR Newswire

BETHESDA, Md., Feb. 12, 2013

BETHESDA, Md., Feb. 12, 2013 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS)
(the "Company") today called for redemption of all outstanding shares of its
9% Series B Cumulative Redeemable Preferred Stock represented by depositary
shares, each representing 1/100^th of a share of Series B Preferred Stock (the
"Depositary Shares", CUSIP: 804395408; NYSE: BFSPrB). The Depositary Shares
will be redeemed on March 15, 2013 at $25.00 per share, plus all accumulated
and unpaid distributions through the redemption date, for an aggregate
redemption price of $25.4265 per share.

The redemptions will be made in accordance with The Depositary Trust Company's
procedures. The Depositary Shares shall be surrendered for payment of the
redemption price to Continental Stock Transfer & Trust Company, the redemption
and paying agent. After the redemption date, dividends will cease to accrue on
the Depositary Shares representing interests in Series B Preferred Stock,
regardless of whether they were surrendered for payment.

Saul Centers is a self-managed, self-administered equity real estate
investment trust headquartered in Bethesda, Maryland. Saul Centers currently
operates and manages a real estate portfolio of 59 community and neighborhood
shopping center and mixed-use properties totaling approximately 9.5 million
square feet of leasable area. Over 85% of the Company's cash flow is
generated from properties in the metropolitan Washington, DC/Baltimore, MD
area.

SOURCE Saul Centers, Inc.

Website: http://www.saulcenters.com
Contact: Scott V. Schneider, +1-301-986-6220