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 Capital   Unrecaptured Nontaxable
Date Date Date Distribution Dividends Gain Distribution Sec. 1250 Distributions
              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 Capital Unrecaptured Nontaxable
Date Date Date Distribution Dividends Gain Distribution Sec. 1250 Distributions
              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 Capital Unrecaptured Nontaxable
Date Date Date Distribution Dividends Gain Distribution Sec. 1250 Distributions
              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.

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