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Pennsylvania Real Estate Investment Trust to Present at REITWeek™ 2009 NAREIT Investor Forum

Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced today that Chairman and CEO Ronald Rubin, along with President and COO Edward Glickman, and Executive Vice President and CFO Robert McCadden will present at REITWeek™ 2009, NAREIT’s Investor Forum in New York City on Thursday, June 4, 2009 at 2:45 p.m. Eastern Time.

An audio-only webcast of the presentation will be available. To access the webcast, visit http://www.industrystream.net/reitweek09/preit or the Company website at www.preit.com. Also, an online replay will be available until June 18, 2009.

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 and power centers. Currently, the Company's portfolio consists of 56 properties, including 38 shopping malls, 14 strip and power centers, and four properties under development. The operating retail properties have a total of approximately 35 million square feet. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. PREIT is headquartered in Philadelphia, Pennsylvania. The Company's website can be found at www.preit.com. PREIT is publicly traded on the NYSE under the symbol PEI.

Forward Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to expectations, beliefs, projections, future plans, strategies, anticipated events, trends and other matters that are not historical facts. These forward-looking statements reflect PREIT’s current views about future events and are subject to risks, uncertainties and changes in circumstances that might cause future events, achievements or results to differ materially from those expressed or implied by the forward-looking statements. More specifically, PREIT’s business might be affected by uncertainties affecting real estate businesses generally as well as the following, among other factors: general economic, financial and political conditions, including credit market conditions, changes in interest rates or the possibility of war or terrorist attacks; the current economic downturn and its effect on PREIT’s existing and potential tenants and their ability to make and meet their obligations to PREIT; PREIT’s continued compliance with the terms of its Credit Facility, and its ability to repay or replace its debt when it matures; changes in local market conditions or other competitive or retail industry factors in the regions where our properties are concentrated; PREIT’s ability to maintain and increase property occupancy and rental rates, and risks relating to development or redevelopment activities, including construction, obtaining entitlements and managing multiple projects simultaneously. Additionally, there can be no assurance that PREIT’s actual results will not differ significantly from the estimates set forth in press releases or other disclosures, or that PREIT’s returns on its developments, redevelopments or acquisitions will be consistent with the estimates outlined in press releases or other disclosures. Investors are also directed to consider the risks and uncertainties discussed in documents PREIT has filed with the Securities and Exchange Commission and, in particular, PREIT's Annual Report on Form 10-K, as amended, for the year ended December 31, 2008. PREIT does not intend to update or revise any forward-looking statements to reflect new information, future events or otherwise.

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

Contacts:

Pennsylvania Real Estate Investment Trust
Robert McCadden, 215-875-0735
EVP & CFO
or
Nurit Yaron, 215-875-0735
VP, Investor Relations

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