FUR Winthrop Realty Trust New (delisted)

BOSTON, March 29 /PRNewswire-FirstCall/ -- Winthrop Realty Trust (NYSE:FUR), announced today that it had commenced mailing of rights certificates for a rights offering to its shareholders. The Company is distributing non-transferable subscription rights to subscribe for and purchase up to an aggregate of 5,220,038 of its common shares of beneficial interest to holders of record as of the March 22, 2006 record date for the rights offering. Each shareholder is receiving one basic subscription right for every 12 common shares owned, or in the case of Series B-1 Preferred Shares, one basic subscription right for every 12 common shares issuable upon conversion of such Preferred Shares, as of the record date. Each basic subscription right entitles the holder to purchase one common share of beneficial interest for a subscription price of $5.25 per share. Shareholders who exercise their rights in full are also entitled to purchase additional shares pursuant to an oversubscription right to the extent holders do not fully subscribe for their basic subscription rights. Shareholders may exercise their rights to purchase shares in the rights offering until April 27, 2006, unless extended. The Company reserves the right to cancel or terminate the rights offering at any time prior to the expiration of the rights offering. Certain existing shareholders of the Company have agreed, subject to certain conditions, to purchase all unsubscribed common shares at the subscription price. The Company currently has 40,473,798 common shares outstanding and anticipates that it will have 45,693,836 common shares outstanding following completion of the rights offering. The Company intends to use the proceeds of the rights offering for general corporate purposes which may include the acquisition of additional investments and/or the repayment of outstanding indebtedness. A registration statement relating to the subscription rights and the common shares underlying the rights has been filed with the Securities and Exchange Commission and has become effective. A copy of the prospectus relating to the rights offering meeting the requirements of Section 10 of the Securities Act of 1933, rights certificates evidencing the subscription rights and additional materials relating to the rights offering are currently being mailed to shareholders of the Company as of the record date. Shareholders may also obtain a copy of the prospectus from the Information Agent for the offering, c/o MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York 10066, (800) 322-2885. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, and there shall not be any offer, solicitation or sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT) headquartered in Boston, Massachusetts. Forward-Looking Statements Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may result in the Company canceling or terminating the rights offering or standby purchasers failing to agree to purchase unsubscribed common shares. Further information with respect to the rights offering and Winthrop can be found in Winthrop's filings with the Securities and Exchange Commission. DATASOURCE: Winthrop Realty Trust CONTACT: Carolyn Tiffany, Chief Operating Officer, Winthrop Realty Trust, +1-617-570-4614

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