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Getty Realty Corp. Announces Financial Results For Quarter Ended September 30, 2012

Environmental expenses included in continuing operations for the quarter and nine months ended September 30, 2012 was $0.3 million and $0.4 million, respectively, as compared to $1.7 million and $3.9 million for the quarter and nine months ended September 30, 2011, respectively. The decrease in net environmental expenses for the quarter and nine months ended September 30, 2012 was primarily due to lower legal fees resulting from a $0.9 million reimbursement of legal fees paid in prior years and lower provisions for environmental remediation costs and environmental litigation. Capitalized asset retirement costs associated with increases in environmental obligations are depreciated over their estimated useful lives, which expense is included in depreciation and amortization in the Company’s consolidated statements of operations rather than in provision for environmental remediation costs. Environmental expenses vary from period to period and, accordingly, undue reliance should not be placed on the magnitude or the direction of change in reported environmental expenses for one period as compared to prior periods.

Non-cash impairment charges of $2.0 million and $3.0 million are included in continuing operations for the quarter and nine months ended September 30, 2012, respectively, as compared to $0.6 million and $2.5 million recorded for the quarter and nine months ended September 30, 2011, respectively. The non-cash impairment charges recorded during the quarter and nine months ended September 30, 2012 were attributable to reductions in the Company’s estimates of value for properties held for sale and the accumulation of asset retirement costs as a result of an increase in estimated environmental liabilities which increased the carrying value of certain properties above their fair value. The non-cash impairment charges recorded for the quarter and nine months ended September 30, 2011 were attributable to reductions in the Company’s estimates of value for properties marketed for sale. Impairment charges vary from period to period and accordingly, undue reliance should not be placed on the magnitude or the directions of change in impairment charges for one period as compared to prior periods.

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