Excel Trust, Inc. (NYSE: EXL), a retail focused real estate investment trust (REIT), announced today the pricing of its public offering of 8.5 million shares of common stock at $12.00 per share. The offering is expected to close on or about October 30, 2012 and is subject to customary closing conditions. The Company has granted to the underwriters an option to purchase up to an additional 1.275 million shares within thirty days after the offering. All shares are being offered by the Company. The offering will generate net proceeds, after deducting underwriting discounts and estimated offering expenses, of approximately $98.5 million, or $113.1 million if the underwriters exercise their option to purchase additional shares in full. The Company intends to use the net proceeds from the offering to repay existing indebtedness under its unsecured revolving credit facility incurred in connection with the recent acquisition of five retail shopping centers and a 50% interest in a sixth retail property for approximately $262.8 million, and for other general corporate and working capital purposes. BofA Merrill Lynch, Morgan Stanley, and Raymond James are joint book-running managers for the offering. The co-managers of the offering are Barclays, KeyBanc Capital Markets, Mitsubishi UFJ Securities, PNC Capital Markets LLC, Sandler O’Neill + Partners, L.P., Stifel Nicolaus Weisel and UBS Investment Bank. The common stock will be issued pursuant to an effective registration statement on Form S−3 that was previously filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the offered shares, nor shall there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.