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Pennsylvania Real Estate Investment Trust, Inc. Invites You to Join Its Virtual Real Estate Summit Webcast

    PHILADELPHIA, March 1 /PRNewswire/ -- Pennsylvania Real Estate Investment
Trust, Inc. (NYSE: PEI) invites you to listen to its Webcast that will be
broadcast live over the Internet on Tuesday, March 6, 2001 at 4:30 pm ET with
Jonathan Weller, President & COO of Pennsylvania Real Estate Investment Trust,
Inc.

     What:          Pennsylvania Real Estate Investment Trust, Inc. Webcast

     When:          Tuesday, March 6, 2001 at 4:30 pm ET

     Where:         http://www.videonewswire.com/PEI/030601/

     How:           Live over the Internet -- Simply log on to the web at the
                    address above

     Contact:       Margie Baigh of The Financial Relations Board,
                    312-640-6690, mbaigh@bsmg.com

    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 shopping
centers (approximately 9.8 million square feet) and apartment communities
(7,242 units) located primarily in the eastern United States.  The Company's
portfolio currently consists of 45 properties in 10 states. In addition, there
are 6 retail properties under development, which will add approximately
3.0 million square feet to the portfolio.  Pennsylvania Real Estate Investment
Trust is headquartered in Philadelphia, Pennsylvania.

    If you are unable to participate during the live Webcast, the call will be
archived on these sites for 90 days.

    (Minimum Requirements to listen to broadcast: The RealPlayer software,
downloadable free from http://www.real.com/products/player/index.html, and at least a
14.4Kbps connection to the Internet.  If you experience problems listening to
the broadcast, send an email to webmaster@vdat.com.)


SOURCE Pennsylvania Real Estate Investment Trust, Inc.




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    CONTACT:
    Margie Baigh of The Financial Relations
    Board, 312-640-6690, mbaigh@bsmg.com