First Quarter Highlights:

    Financial
    --  Per Share diluted FFO of $0.60 per share
    --  Increase in First Quarter results 1Q '98 to 1Q '99:
        --  Diluted FFO per share up 11.1%
        --  Total Revenues up 18%
        --  Diluted FFO up 27.1%
    --  $0.42 per share regular quarterly dividend declared on March 11, 1999

    Operations
    --  Home Depot store opened at White Lake MarketPlace on February 4
    --  F&M Drug Store opened at Southfield Plaza on February 28
    --  Office Depot opened at Clinton Valley Center on March 21
    --  Renewed 19 non-anchor tenant leases at an average rental increase of
        4.5%
    --  Opened 18 new non-anchor stores at rentals 30% above the portfolio
        average
    --  Same center Net Operating Income improvement of 4.7%

    SOUTHFIELD, Mich., April 21 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) today reported an 11.1 percent increase in diluted funds
from operations ("FFO") on a per share basis for the three months ended March
31, 1999.  The results were fueled by continued strong performance of the
Company's core portfolio, the impact of new development and the full quarter
effects of 1998 acquisitions.
    For the three months ended March 31, 1999, diluted FFO increased
27.1 percent, or approximately $1,556,000, to $7,293,000, compared with
$5,737,000 for the three months ended March 31, 1998.  On a per share basis,
the increase was 11.1 percent, or $0.06, to $0.60 compared with $0.54 in 1998.
Total revenues increased 18.0 percent or $3,329,000, to a total of
$21,773,000, compared with $18,444,000 in 1998.
    "We are very pleased with our first quarter numbers," said Dennis
Gershenson, president and chief executive officer of Ramco-Gershenson
Properties Trust.  "They resulted from the success of our development program,
strong tenant performance which translated into increased percentage rents and
the impact of our management team's repositioning and leasing efforts.
    "Home Depot, the first of four anchors, opened their 110,000 square foot
store at our White Lake MarketPlace development on February 4th.  The center
is presently 100 percent leased and should be fully occupied by fall 1999.
Our development team is actively pursuing two other projects.  The first is
located in Auburn Hills, Michigan, and is scheduled to commence construction
later this year.  The second project is a proposed entertainment/lifestyle
center to be located in Novi, Michigan.
    "Tenant sales across the portfolio increased 3.5 to 4.0 percent on
average.  Those tenants paying percentage rent achieved an average increase in
sales in  excess of 5percent.  This translated into a 15 percent improvement
in our percentage rent estimates for the year.
    "During the quarter we saw the effect of replacing tenants perceived at
risk with strong destination-oriented retailers.  At Southfield Plaza Shopping
Center in Southfield, Michigan, F&M Drug Store, a subsidiary of Drug Emporium,
opened in 30,000 square feet.  This tenant, along with a 20,000 square foot
expansion of an adjacent Burlington Coat Factory, replaced Service Merchandise
at significantly better economics.  At our Clinton Valley Shopping Center in
Sterling Heights, Michigan, Office Depot opened in approximately 30,000 square
feet, occupying a significant portion of the premises previously leased to
Montgomery Ward.  We are actively negotiating two other leases for the balance
of the Ward's space which should complete the retenanting of this space by the
end of the year," said Gershenson.
    Ramco-Gershenson Properties Trust has a portfolio of 55 shopping centers,
with more than 10.6 million square feet of gross leasable area, located in
Michigan, Ohio, Wisconsin, NewYork, New Jersey, Maryland, Virginia, North
Carolina, South Carolina, Tennessee, Georgia, Alabama and Florida.
Headquartered in Southfield, Michigan, the Trust is a fully integrated, self-
administered, publicly-traded real estate investment trust (REIT) which owns,
develops, acquires, manages and leases 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.  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 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.

                              FINANCIAL RESULTS
                      Ramco-Gershenson Properties Trust
                              Operating Results
                   (In thousands, except per share amounts)
                                 (Unaudited)

                                                      Three           Three
                                                     Months          Months
                                                      Ended           Ended
                                                     3/31/99         3/31/98
    REVENUES
      Minimum rents                                  $15,114        $13,295
      Percentage rents                                   625            398
      Recoveries from tenants                          5,808          4,643
      Interest and other income                          226            108
        Total Revenues                                21,773         18,444
    EXPENSES
      Real estate taxes                                1,978          1,747
      Recoverable operating expenses                   3,890          2,966
      Depreciation and amortization                    3,291          2,936
      Other operating                                    446            236
      General and administrative                       1,594          1,637
      Interest expense                                 6,511          6,049
        Total Expenses                                17,710         15,571
    Operating income                                   4,063          2,873
    Loss from unconsolidated entities                     68             79
    Income before minority interest                    3,995          2,794
    Minority Interest                                  1,186            791
    Net income                                       $ 2,809        $ 2,003

    Net income available to common shareholders      $ 1,969        $ 1,723

    Basic earnings per share                           $0.27          $0.24
    Diluted earnings per share                         $0.27          $0.24

    Weighted average shares outstanding
      Basic                                            7,218          7,123
      Diluted                                          7,218          7,169
    Funds from Operations (A)
      Basic
      Funds from Operations                          $ 6,453        $ 5,457
      FFO weighted average number of shares
        outstanding (B)                               10,170          9,891
      Funds from Operations per share                  $0.63          $0.55
    Diluted
      Funds from Operations                          $ 7,293        $ 5,737
      FFO weighted average number of
        shares outstanding (C)                        12,171         10,604
      Funds from Operations per share                  $0.60          $0.54

                      Ramco-Gershenson Properties Trust
                         Consolidated Balance Sheets
                                (In thousands)

                                                   March 31,      December 31,
                                                      1999            1998
    ASSETS                                         (unaudited)
      Investment in real estate, net               $ 508,733      $ 509,844
      Cash and cash equivalents                        3,569          4,550
      Accounts receivable, net                         9,826          9,864
      Equity investments in and advances to
        unconsolidated entities                        5,750          5,896
      Other assets, net                               16,242         14,250
        Total Assets                               $ 544,120      $ 544,404

    LIABILITIES AND SHAREHOLDERS' EQUITY
      Mortgages and notes payable                  $ 331,487      $ 328,248
      Distributions payable                            5,112          5,244
      Accounts payable and accrued expenses           12,961         15,235
        Total Liabilities                            349,560        348,727
      Minority Interest                               48,482         48,535
      Commitments and Contingencies                      ---            ---
      Shareholders' Equity                           146,078        147,142
        Total Liabilities and Shareholders' Equity $ 544,120      $ 544,404

    (A)  Management generally considers Funds From Operations ("FFO") to be
         one measure of financial performance of an Equity REIT.  The Trust
         has adopted the most recent National Association of Real Estate
         Investment Trusts ("NAREIT") definition of FFO, which was effective
         on January 1, 1996.  Under the NAREIT definition, FFO represents
         income (loss) before minority interest (computed in accordance with
         generally accepted accounting principles -- "GAAP"), excluding gains
         (losses) from debt restructuring and sales of property, plus real
         estate related depreciation and amortization (excluding amortization
         of financing costs), and after adjustment for unconsolidated
         partnerships and joint ventures.  Therefore, FFO does not represent
         cash generated from operating activities in accordance with GAAP and
         should not be considered an alternative to net income as an
         indication of the Trust's performance or to cash flows from operating
         activities as a measure of liquidity or the ability to pay
         distributions.  Furthermore, while net income and cash generated from
         operating, investing and financing activities, determined in
         accordance with GAAP, consider capital expenditures which have been
         and will be incurred in the future, the calculation of FFO does not.
    (B)  Represents the weighted average total shares outstanding, assuming
         the redemption of all operating partnership units for common shares.
    (C)  Represents the weighted average total shares outstanding, assuming
         the redemption of all operating partnership units for common shares,
         the conversion of convertible preferred shares to common shares, and
         dilutive stock options.

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