Kite Realty Group Trust Provides Financing and Leasing Update

Kite Realty Group Trust (NYSE: KRG) announced that it executed new and renewal leases for approximately 300,000 square feet during the fourth quarter of 2009, including three new anchor tenant leases. The Company is also providing an update to the 2010 debt maturities.

Leasing Activities

Whole Foods leased approximately 35,000 square feet at Cobblestone Plaza in Pembroke Pines, Florida. This development is now approximately 74% leased and the remainder of the shopping center is fully constructed.

The Company leased approximately 47,000 square feet to a Toys "R” Us and Babies "R” Us combination store at Coral Springs Plaza in Coral Springs, Florida. Upon completion of the building expansion, this redevelopment pipeline property will be 100% leased. Previously, Circuit City anchored this shopping center.

Academy Sports leased 66,500 square feet of a former Wal-Mart box at Bolton Plaza in Jacksonville, Florida. This property is currently under redevelopment.

Financing Activities

In December 2009, the Company executed a $15 million, seven-year loan on Ridge Plaza, a 115,000 square foot A&P grocery anchored shopping center in Oak Ridge, New Jersey. The interest rate on the loan was LIBOR plus 325 basis points which the Company simultaneously hedged to fix the interest rate at 6.56% for the full seven-year term.

Also during the fourth quarter, the Company partially repaid and extended maturity dates into 2013 for the $18 million loan on Tarpon Springs Plaza and the $14 million loan on Estero Town Commons, both in centers located in Naples, Florida.

Subsequent to the end of the year, the Company partially repaid and extended the maturity into 2013 for the $11 million loan on South Elgin Commons in Chicago, Illinois.

The remaining 2010 debt maturities include a $31 million loan on Cobblestone Plaza and a $15 million loan on Shops at Rivers Edge in Indianapolis, Indiana. The Company anticipates extending both loans during the first quarter of 2010.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged primarily on the development, construction, acquisition, ownership and operation of high quality neighborhood and community shopping centers in selected growth markets in the United States. The Company owns interests in a portfolio of operating retail properties, retail properties under development and redevelopment, operating commercial properties, a related parking garage, and parcels of land that may be used for future development of retail or commercial properties.

Safe Harbor

Certain statements in this document that are not historical fact 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 cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the ability of tenants to pay rent; the competitive environment in which the Company operates; financing risks, including access to capital at desirable terms; property management risks; the level and volatility of interest rates; financial stability of tenants; the Company’s ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks; potential environmental and other liabilities; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, which discuss these and other factors that could adversely affect the Company’s results. The Company undertakes no obligation to publicly update or revise these forward-looking statements (including the FFO and net income estimates), whether as a result of new information, future events or otherwise.