SOUTHFIELD, Mich., Feb. 29 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) announced today that its Board of Trustees authorized the
repurchase of up to $10 million of the Company's common stock.  Share
repurchases will be made in the open market and in privately negotiated
transactions at the discretion of management and will be funded by cash on
hand and through the sale of select non-core assets.  The amount and timing of
any purchases will be subject to market conditions.  As of February 28, 2000
the Company had 7.2 million shares of common stock outstanding and on that
date the Trust's shares closed at $13.125.
    "The decision to pursue the repurchase of our stock underlies our belief
in the intrinsic value of our Company and comes at a time when our shares are
trading at a tremendous discount to our peer group as well as our net asset
value," said Dennis Gershenson, president and chief executive officer.  "Our
Company remains committed to the redevelopment of core assets as well the
selective development of shopping centers, however, we are very conscious of
the fact that at current pricing levels our stock is an excellent investment.
The sale of non-core assets will allow us to pursue this program as well as
carry out our current business plan."
    Ramco-Gershenson completed the sale of two shopping centers in December of
1999.  They were a 45,000 square foot, free-standing Toys R Us in Commack, New
York and Trinity Corners, a 50,000 square foot shopping center located in
Pound Ridge, New York.
    Ramco-Gershenson Properties Trust has a portfolio of 54 shopping centers,
with approximately 10.7 million square feet of gross leasable area, located in
Michigan, Ohio, Wisconsin, New Jersey, Maryland, Virginia, North Carolina,
South Carolina, Tennessee, Georgia, Alabama and Florida.  Headquartered in
Southfield, Michigan, the Company is a fully integrated, self-administered,
publicly-traded real estate investment trust (REIT).  The Trust owns,
develops, acquires and manages community shopping centers, regional malls and
single tenant retail properties, nationally.

    This press release contains forward-looking statements with respect to the
operation of certain of the Trust's properties and potential share
repurchases.  Management of Ramco-Gershenson believes the expectations
reflected in the forward-looking statements made in this document are based on
reasonable assumptions.  Certain factors could occur that might cause actual
results to vary.  These include general economic conditions, the price of
common shares and stock market conditions, the strength of key industries in
the cities in which the Trust's properties are located, the performance of the
Trust's tenants at the Trust's properties and elsewhere, and other factors
discussed in the Trust's reports filed with the Securities and Exchange
Commission.

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