NORTHBROOK, Ill., Nov. 2 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced the implementation of a new Dividend Reinvestment
and Stock Purchase Plan effective November 1998.  The new plan provides
current share owners of Bradley Common Stock and Series A Preferred Stock, as
well as holders of Units in Bradley Operating Limited Partnership, with an
economical and convenient method of increasing their investment in the
company.  Some of the highlights of the new plan include:
    * Implementation of a direct stock purchase program to make initial share
      purchases directly from the company;
    * The ability to make monthly optional cash payments from a minimum of
      $100 to a maximum of $10,000 per quarter;
    * A monthly waiver feature that will allow optional cash investments above
      the $10,000 quarterly limit with prior approval from the company;
    * The direct deposit of dividends to share owner's checking/savings
      accounts, automatic withdrawal from share owner's checking/savings
      accounts for periodic optional cash investments; and
    * The safekeeping of common stock certificates with the Plan Agent.

    All share owners who were enrolled in the prior plan are automatically
enrolled in this new plan.  To request a prospectus and receive enrollment
materials, interested investors and current share owners may contact the
company's Plan Agent, Boston EquiServe, at 888-697-7873.
    The company is currently offering a discount of 3 percent on the purchase
of additional shares of Common Stock through the dividend reinvestment portion
of the Plan.  The current discount for optional cash payments between the
$100 minimum and $10,000 quarterly maximum is 2 percent.  These discounts are
subject to change and can range from 0 percent to 3 percent as determined by
the company in its sole discretion from time to time.
    For information concerning the monthly waiver feature, interested
investors and share owners may call the company at 847-562-4102 and hear a
prerecorded message detailing the waiver information such as the threshold
price and waiver discount.  This recording will be available on November 6
with respect to November purchases.
    Thomas P. D'Arcy, chairman and chief executive officer, commented, "We are
excited about our new Dividend Reinvestment and Stock Purchase Plan.  We
believe it offers a number of features designed to meet investors' needs.  As
always, we appreciate the support of our current owners and this Plan is
designed to provide a more cost effective and economical way for share owners
to increase their investment in Bradley."
    Bradley Real Estate, Inc. is the nation's oldest real estate investment
trust (REIT) and a leading owner and operator of neighborhood and community
shopping centers located in the Midwest region of the United States.  The
company owns and operates 95 shopping centers, aggregating 15.3 million square
feet located in 15 states.  The company has paid 149 consecutive quarterly
distributions to its share owners, one of the longest records of distributions
among publicly traded REITS.
    This press release does not constitute an offer to sell or the
solicitation of an offer to buy.

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