BRT Realty Trust announces results of special dividend elections

Great Neck, New York, October 26, 2009 -- BRT Realty Trust (NYSE:BRT) announced the results of its shareholders’ elections relating to its special dividend of $1.15 per share, payable on October 30, 2009 to record holders on September 30, 2009.

The terms of the special dividend, including the ability of shareholders to elect to receive the distribution in the form of cash or BRT’s common shares, and a limitation on the aggregate amount of cash to be paid in the distribution, were described in detail in the prospectus supplement, dated October 1, 2009, and filed with the Securities and Exchange Commission on October 1, 2009. The elections were required to be submitted prior to 5:00 p.m. (Eastern Time) on October 16, 2009. 

Based on shareholder elections, the special dividend will consist of approximately $1,330,000 in cash and 2,437,366 common shares of BRT. The number of shares included in the distribution is calculated based on $4.9128, the volume weighted average price per share of BRT’s common shares on the New York Stock Exchange on October 19, 20 and 21, 2009.  Summarized results of the special dividend elections are as follows:    •     To shareholders electing to receive the special dividend in cash, BRT will pay the special dividend in the form of $.2317959 per share in cash and $.9182041 per share in stock.


   •     BRT will pay the special dividend in its common shares to all other shareholders. 

   •     BRT will pay fractional shares in cash.  

BRT expects the special dividend to be taxable as a capital gain distribution to its shareholders, without regard to whether a particular shareholder receives the special dividend in cash and shares, or only in shares.

For shareholders whose shares are held through a bank, broker or nominee, questions regarding the special dividend should be directed to the bank, broker or nominee.  For registered shareholders, questions regarding the special dividend should be directed to BRT’s transfer agent: Shareholder Services at American Stock Transfer and Trust Company at (718) 921-8200 or toll free at 1-800-937-5449.   

BRT is a New York-based Real Estate Investment Trust that specializes in the origination and holding for investment of senior and junior commercial mortgage loans secured by real property in the United States. For more information on BRT, please visit our Home Page.

Caution Concerning Forward-Looking Statements: Materials included in this filing may contain "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 that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words should be considered uncertain and forward-looking.

Contact: Simeon Brinberg, Senior Vice President - (516) 466-3100

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