NEW YORK, Apr 24, 2002 /PRNewswire-FirstCall via COMTEX/ -- Acadia Realty Trust (NYSE: AKR), a fully integrated shopping center real estate investment trust, announced today that it will release its first quarter 2002 operating results on Tuesday, April 30, 2002, before the open of the markets. Kenneth Bernstein, President and CEO, and Perry Kamerman, CFO, will conduct a live audio webcast of Acadia's earnings conference call later the same day at 11:00 a.m. EST to review the Company's operating results.

This call can be accessed at Acadia's web site at www.acadiarealty.com .

The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at www.companyboardroom.com , or by visiting any of the investor sites in CCBN's Individual Investor Network such as America Online's Personal Finance Channel, Fidelity Investments (Fidelity.com) and others. Institutional investors can access the call via CCBN's password protected event management site, StreetEvents, at www.streetevents.com .

If you are unable to participate during the live webcast, the call will be archived on Acadia's website. To access the replay by phone, dial 1-800-696-1588 for domestic callers and 303-804-1727 for international callers. The passcode is 1716226. The phone replay will be available through Tuesday, May 7, 2002.

Acadia Realty Trust, headquartered on Long Island, NY, is a self- administered equity real estate investment trust structured as an UPREIT, which specializes in the operation, management, leasing, renovation and acquisition of shopping center properties. The Company currently owns and operates 52 properties totaling approximately 10 million square feet, located primarily in the Eastern and Midwestern regions of the United States.

Certain matters in this press release may constitute forward-looking statements and as such may involve known and unknown risk, uncertainties and other factors which may cause the actual results, performances or achievements of Acadia to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such forward-looking statements speak only as of the date of this document.

For more information on Acadia Realty Trust visit Acadia Realty Trust's Web site at www.acadiarealty.com .

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SOURCE Acadia Realty Trust

CONTACT:          Jon Grisham, Investor Relations of Acadia Realty Trust,
                  +1-516-767-8830, or General, Susan Garland of FRB Weber Shandwick,
                  +1-212-445-8458

URL:              http://www.acadiarealty.com 
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