Realty Income Names John P. Case to Succeed Tom A. Lewis As Chief Executive Officer

 Realty Income Names John P. Case to Succeed Tom A. Lewis As Chief Executive

Mr. Case Appointed to the Company's Board of Directors

Mr. Lewis to Remain As Vice Chairman of the Board

PR Newswire

ESCONDIDO, Calif., Sept. 3, 2013

ESCONDIDO,Calif., Sept. 3, 2013 /PRNewswire/ -- Realty Income Corporation
(Realty Income), The Monthly Dividend Company^®, (NYSE:O) today announced that
its Board of Directors has appointed John P. Case to the position of Chief
Executive Officer of the company. Mr. Case, who has served as President and
Chief Investment Officer, succeeds Tom A. Lewis, who decided to retire as the
company's CEO. Mr. Lewis, who had been CEO since 1997, will remain at the
company until early next year to assist with the transition, and will continue
to serve as Vice Chairman of the company's Board of Directors. With this
appointment, Mr. Case becomes only the third CEO in Realty Income's 44-year



Mr. Case has worked closely with Mr. Lewis on the company's long-term
corporate strategy and operational structure. Over the last few years, Mr.
Case has also been responsible for implementing the company's expanded
acquisitions strategy focused on increasing the size, quality and diversity of
its real estate portfolio. During this period, the company has acquired more
than 1,500 single-tenant, net-leased properties, for approximately $7billion.
These acquisitions have meaningfully increased the diversification and quality
of Realty Income's portfolio, while significantly increasing revenue, earnings
and dividends to its shareholders.

Prior to joining Realty Income, Mr. Case served for 19 years as a New
York-based real estate investment banker, most recently as Co-Head of Real
Estate Investment Banking for RBC Capital Markets, where he also served on the
firm's Global Investment Banking Management Committee. Prior to joining RBC,
he was Co-Head of America's Real Estate Investment Banking at UBS. He began
his career in Real Estate Investment Banking at Merrill Lynch, where he worked
for 13 years, and was named a Managing Director in 2000. During Mr. Case's
career, he was responsible for more than $100 billion in real estate capital
markets and advisory transactions. Mr.Case graduated from Washington and Lee
University, with a Bachelor of Arts degree in Economics, and the Darden School
of Business at the University of Virginia, with a Masters in Business

Mr. Case has been extensively involved in the broader real estate industry,
having served as an Associate on the National Association of Real Estate
Investment Trusts (NAREIT) Board of Governors, as a member of the Board of
Directors of the National Multi-Housing Council (NMHC) from 2001 to 2009,
serving on the Executive Committee from 2002 to 2004, as a member of the Real
Estate Roundtable from 2009 to 2010, and as a member of the Urban Land
Institute from 2003 to 2010. He is currently a member of The President's
Council of The Real Estate Roundtable, NAREIT, and the International Council
of Shopping Centers (ICSC).

Commenting on the change in leadership, Michael D. McKee, Independent Chairman
of the Board of Directors of Realty Income stated, "Tom Lewis has led our
company as CEO for 16 years with distinction, integrity and creativity. He has
now led us through a textbook succession process and we expect a smooth
transition. We are enormously grateful for Tom's leadership during such a long
period of sustained growth. We now look forward with great anticipation to
working closely with John to continue the execution of our business plan and
extend the legacy of success at The Monthly Dividend Company^®."

John P. Case commented on his appointment saying, "I am honored to have been
selected by our Board of Directors to serve as the Chief Executive Officer of
Realty Income. I am optimistic about the future of our company and look
forward to continuing to perform at industry leading standards in the years to
come. I would also like to recognize the remarkable achievements of Realty
Income under the leadership of Tom Lewis during his 16-year term as CEO. I
have enjoyed working closely with Tom since I joined the company, executing
our business strategy."

Commenting on Mr. Case's selection to succeed him as CEO, Tom stated, "I am
extremely pleased that John is taking on the CEO position and will be leading
the company in the coming years. I have known and worked with John for more
than 15 years in various roles as an external advisor and investment banker,
as our Executive Vice President and Chief Investment Officer, and most
recently as our President. His contribution to the growth of the company in
recent years has been outstanding, and I am sure he will bring the same
vision, creativity and energy to his new role. I can't think of a better
person to generate my own monthly dividends in the coming years!"

Under Mr. Lewis' leadership as Chief Executive Officer from 1997 through the
second quarter of 2013, the company's total enterprise value grew from $619
million to $12.9 billion, its portfolio of real estate assets grew from 740
properties to 3,681 properties, the company paid over 200 consecutive monthly
dividends and increased its dividend 70 times, growing the dividend from $0.95
per share to $2.179 per share. During this 16-year period, shareholders
enjoyed a compounded average annual return of 15.4%, assuming the reinvestment
of dividends.

Realty Income, The Monthly Dividend Company^®, is a New York Stock Exchange
real estate company dedicated to providing shareholders with dependable
monthly income. To date, the company has paid 517 consecutive common stock
monthly dividends throughout its 44-year operating history and increased the
dividend 72 times since Realty Income's listing on the New York Stock Exchange
in 1994. The monthly dividend is supported by the cash flow from over 3,600
commercial properties owned under long-term lease agreements with leading
retail chains and other commercial enterprises. The company is an active buyer
of net-leased properties nationwide.

Realty Income Performance vs. Major Stock Indices
                               Equity              Dow Jones                               NASDAQ
            Realty        REIT       Industrial         S&P     
           Income         Index^(1)           Average            500         Composite
           Dividend Total      Dividend Total      Dividend Total      Dividend Total      Dividend Total
           Yield    Return^(2) Yield    Return^(3) Yield    Return^(3) Yield    Return^(3) Yield    Return^(4)
10/18 to   10.5%    10.8%      7.7%     0.0%       2.9%     (1.6%)     2.9%     (1.2%)     0.5%     (1.7%)
1995       8.3%     42.0%      7.4%     15.3%      2.4%     36.9%      2.3%     37.6%      0.6%     39.9%
1996       7.9%     15.4%      6.1%     35.3%      2.2%     28.9%      2.0%     23.0%      0.2%     22.7%
1997       7.5%     14.5%      5.5%     20.3%      1.8%     24.9%      1.6%     33.4%      0.5%     21.6%
1998       8.2%     5.5%       7.5%     (17.5%)    1.7%     18.1%      1.3%     28.6%      0.3%     39.6%
1999       10.5%    (8.7%)     8.7%     (4.6%)     1.3%     27.2%      1.1%     21.0%      0.2%     85.6%
2000       8.9%     31.2%      7.5%     26.4%      1.5%     (4.7%)     1.2%     (9.1%)     0.3%     (39.3%)
2001       7.8%     27.2%      7.1%     13.9%      1.9%     (5.5%)     1.4%     (11.9%)    0.3%     (21.1%)
2002       6.7%     26.9%      7.1%     3.8%       2.6%     (15.0%)    1.9%     (22.1%)    0.5%     (31.5%)
2003       6.0%     21.0%      5.5%     37.1%      2.3%     28.3%      1.8%     28.7%      0.6%     50.0%
2004       5.2%     32.7%      4.7%     31.6%      2.2%     5.6%       1.8%     10.9%      0.6%     8.6%
2005       6.5%     (9.2%)     4.6%     12.2%      2.6%     1.7%       1.9%     4.9%       0.9%     1.4%
2006       5.5%     34.8%      3.7%     35.1%      2.5%     19.0%      1.9%     15.8%      0.8%     9.5%
2007       6.1%     3.2%       4.9%     (15.7%)    2.7%     8.8%       2.1%     5.5%       0.8%     9.8%
2008       7.3%     (8.2%)     7.6%     (37.7%)    3.6%     (31.8%)    3.2%     (37.0%)    1.3%     (40.5%)
2009       6.6%     19.3%      3.7%     28.0%      2.6%     22.6%      2.0%     26.5%      1.0%     43.9%
2010       5.1%     38.6%      3.5%     27.9%      2.6%     14.0%      1.9%     15.1%      1.2%     16.9%
2011       5.0%     7.3%       3.8%     8.3%       2.8%     8.3%       2.3%     2.1%       1.3%     (1.8%)
2012       4.5%     20.1%      3.5%     19.7%      3.0%     10.2%      2.5%     16.0%      2.6%     15.9%
YTD Q2     5.2%     6.9%       3.5%     5.8%       2.5%     15.2%      2.2%     13.8%      1.4%     12.7%
Annual              17.3%               11.1%               9.9%                8.9%                8.3%

Note: All of these dividend yields are calculated as annualized dividends
based on last dividend paid in applicable time period divided by the closing
price as of period end. Dividend yield sources: NAREIT website and Bloomberg,
except for the 1994 NASDAQ dividend yield which was sourced from
Datastream/Thomson Financial.

^(1) FTSE NAREIT US Equity REIT Index, as per NAREIT website.
^(2) Calculated as the difference between the closing stock price as of
period end, less the closing stock price as of previous period, plus dividends
paid in period, divided by closing stock price as of end of previous period.
Does not include reinvestment of dividends.
^(3) Includes reinvestment of dividends. Sources: NAREIT website and
^(4) Price only index, does not include dividends. Source: Factset.
^(5) All of these Compounded Average Annual Total Return rates are
calculated in the same manner: from Realty Income's NYSE listing on October
18, 1994 through June 30, 2013, and (except for NASDAQ) assuming reinvestment
of dividends. Past performance does not guarantee future performance. Realty
Income presents this data for informational purposes only and makes no
representation about its future performance or how it will compare in
performance to other indices in the future.

Note to Editors:
Realty Income press releases are available on the Internet at

SOURCE Realty Income Corporation

Contact: Tere Miller, Vice President, Corporate Communications, (760)
741-2111, ext. 1177
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