SOUTHFIELD, Mich., June 3 /PRNewswire/ -- Ramco-Gershenson Properties
Trust (NYSE: RPT) announced today it closed on the purchase of an 88 acre
parcel of land in Auburn Hills, Michigan for the development of its newest
shopping center.  This 650,000 square foot development will be strategically
located directly across Interstate 75 from The Taubman Centers, Inc. 1.4
million square foot Great Lakes Crossing Mall.  Site work will commence
immediately.  Leases have been signed for a 123,000 square foot Target
department store and a 216,000 square foot Meijer store (a grocery/general
merchandise retailer) to anchor the development.  The balance of the center
will be occupied by national and regional destination oriented retailers.
    "We could not have found a more ideal location for a shopping center.  Our
retailers will reap the benefits of both local exposure and the regional
accessibility the location provides," said Dennis Gershenson, President and
Chief Executive Officer of the Trust.  "The project commencement dovetails
nicely with the completion of our White Lake MarketPlace shopping center.  As
with White Lake, this development is expected to produce an initial yield
comfortably above our minimum return threshold."
    The shopping center site is located in the heart of Oakland County, one of
the five wealthiest counties in the United States.  The development will front
a one mile stretch of I-75 considered to be one of the most significant growth
corridors in Southeast Michigan.  The trade area encompasses approximately
240,000 people and the center is expected to generate over 1,000 jobs.
    Regional access to the shopping center is provided by two full
interchanges off of I-75 at Baldwin Road on the northern end of the property
and Joslyn Road on the south.  The center, which will be named "The Auburn
Mile", will include destination-oriented retailers, theme restaurants and a
number of service uses.
    "This is a very exciting project," said Richard Gershenson, Executive Vice
President and Secretary.  "Our location along I-75 provides all of our
retailers and restaurants with showcase expressway exposure.  The selection of
this site demonstrates our development strategy which is to identify premier
locations in major growth areas.  A unique aspect of this development will be
the unveiling of Meijer's prototype store, which will be unlike any in the
area.  Its facade will resemble a small village with a number of store fronts
as opposed to the traditional look of one large building."
    "The Auburn Mile will be anchored by some of the most recognized national
retailers," said Michael Ward, Executive Vice President and Chief Operating
Officer.  "We are eager to present this new development to the area and are
anticipating a spring 2000 grand opening."
    Ramco-Gershenson Properties Trust has a portfolio of 55 shopping centers,
with approximately 10.6 million square feet of gross leasable area, located in
Michigan, Ohio, Wisconsin, New York, 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.  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.

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