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Glimcher Announces Public Offering Of Series H Cumulative Redeemable Preferred Stock

Glimcher Realty Trust (NYSE: GRT) today announced that it has commenced a public offering of its Series H Cumulative Redeemable Preferred Stock. In addition, the Company expects to grant to the underwriters for the public offering a 30-day option to purchase additional shares of Series H Cumulative Redeemable Preferred Stock to cover overallotments, if any. The Company intends to apply to list the shares on the New York Stock Exchange under the symbol “GRTPrH”. If its application is approved, the Company expects trading of the shares on the New York Stock Exchange to commence within the 30‐day period after initial delivery of the shares. Wells Fargo Securities and Merrill Lynch, Pierce, Fenner & Smith Incorporated will act as joint book-running managers.

The Company intends to use the net proceeds from the offering after deducting the underwriting discount and estimated offering expenses, to redeem a portion of its outstanding preferred securities, and to the extent any excess proceeds are available, for general corporate purposes, which may include repaying outstanding indebtedness under the Company’s credit facility. Pending such use, the net proceeds may be invested in short-term, investment grade, interest-bearing securities, certificates of deposit or indirect or guaranteed obligations of the United States.

This offering is being made pursuant to an effective shelf registration statement and prospectus and related preliminary prospectus supplement filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

When available, copies of the preliminary prospectus supplement and related prospectus for this offering may be obtained by contacting Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, telephone (800) 326-5897 or e-mail request to cmclientsupport@wellsfargo.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7 th Floor, New York, NY 10038, Attention: Prospectus Department; telephone (800) 294-1322 or e-mail a request to dg.prospectus_requests@baml.com.

About Glimcher Realty Trust

Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of malls, which includes open-air centers, enclosed regional malls, as well as outlet centers. At June 30, 2012, GRT owned interests in and managed 28 properties with gross leasable area totaling approximately 21.6 million square feet, consisting of 25 malls (21 wholly owned and four partially owned through joint ventures) and three community centers (two wholly owned and one partially owned through a joint venture).

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