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Glimcher Announces Redemption Of Preferred Shares

Glimcher Realty Trust (NYSE:GRT) announced today that it intends to redeem all of its issued and outstanding 8.75% Series F Cumulative Redeemable Preferred Shares (the “Series F Shares”) (CUSIP: 379302300) and a portion of its issued and outstanding 8.125% Series G Cumulative Redeemable Preferred Shares (the “Series G Shares”) (CUSIP: 379302409). All of the 2,400,000 issued and outstanding Series F Shares will be redeemed. Of the 9,500,000 issued and outstanding Series G Shares, 1,200,000 Series G Shares will be redeemed on a pro rata basis (as nearly as practicable without creating fractional shares) from each record holder. Holders of Series F Shares and Series G Shares through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depository Trust Company.

The redemption date will be September 4, 2012. The Series F Shares will be redeemed at a redemption price of $25.00 per share, plus accumulated and unpaid distributions to but excluding the redemption date in an amount equal to $0.3896 per share, for a total payment of $25.3896 per share. The Series G Shares will be redeemed at a redemption price of $25.00 per share, plus accumulated and unpaid distributions to but excluding the redemption date in an amount equal to $0.3617 per share, for a total payment of $25.3617 per share. The redemption price for the Series F Shares and the Series G Shares will be payable in cash, without interest as soon as practicable after the redemption date. After the redemption date, distributions on Series F Shares and the redeemed Series G Shares will cease to accrue, such shares shall no longer be deemed outstanding and all rights of the holders in respect of such shares being redeemed will terminate, except for the right to receive the redemption price, without interest thereon. Because the redemption of the Series F Shares is a redemption in full, trading of the Series F Shares on the NYSE will cease after the redemption date.

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