NEW YORK, Oct 25, 2001 /PRNewswire via COMTEX/ -- Acadia Realty Trust (NYSE: AKR), a fully integrated shopping center real estate investment trust ("REIT"), announced today that it will release its third quarter 2001 operating results on Tuesday, November 6, 2001, before the open of the markets. Management will conduct a live audio webcast of its earnings conference call later the same day at 11:00 a.m. EST to review the Company's operating results.

This call is being webcast by CCBN and 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(R) (Fidelity.com) and others. Institutional investors can access the call via CCBN's password protected event management site, StreetEvents, at www.streetevents.com. StreetEvents allows institutional investors to identify, organize, and track the hundreds of conference calls that occur each day during earnings season, to download events of interest to their Outlook calendar, and to RSVP to events online.

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 centers and multi-family properties. The Company currently owns and operates 54 properties totaling approximately 10 million square feet, primarily in the eastern half of the United States. Acadia's principal executive offices are located in Port Washington, New York, with a corporate office located in Manhattan.

Certain matters in this press release may constitute forward-looking statements within the meaning of the Private Litigation Reform Act of 1995 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. Acadia expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Acadia's expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based.

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

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SOURCE Acadia Realty Trust

CONTACT:          Investor Relations, Jon Grisham of Acadia Realty,
                  +1-516-767-8830, ext. 342, or General Inquiries, Kerry Thalheim of FRB Weber
                  Shandwick, +1-212-445-8437

URL:              http://www.acadiarealty.com 
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