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Great Neck, New York, November 22, 2006 -- BRT Realty Trust (NYSE:BRT) today announced that total revenues for the quarter ended September 30, 2006 increased by 50% over the quarter ended September 30, 2005, and net income increased by 11% quarter over quarter.  For the three months ended September 30, 2006, BRT reported total revenues of $11,861,000 and net income of $6,287,000, or $.78 per share on a diluted basis.  Net income for the three months ended September 30, 2006 includes income from discontinued operations of $461,000, or $.06 per diluted share.  For the three months ended September 30, 2005, total revenues, net income and net income per share on a diluted basis were $7,929,000, $5,677,000 and $.72 per share, respectively.  Net income for the three months ended September 30, 2005 included income from discontinued operations of $1,525,000, or $.19 per diluted share.  The weighted average number of common shares outstanding on a diluted basis were 8,027,074 and 7,856,101 for the three months ended September 30, 2006 and September 30, 2005, respectively.

For the year ended September 30, 2006, BRT reported a 47% increase in total revenues and a 24% increase in net income.  For the year ended September 30, 2006, BRT reported total revenues of $37,488,000 and net income of $20,071,000, or $2.52 per share on a diluted basis.  Net income for the year ended September 30, 2006 included a gain of $2,531,000, or $.32 per diluted share, recognized by an unconsolidated joint venture of BRT upon the sale of a property.  Net income for the year ended September 30, 2006 also included $792,000 of income from discontinued operations, or $.10 per diluted share.  For the year ended September 30, 2005, BRT reported total revenues of $25,491,000, net income of $16,214,000 and net income per share, on a diluted basis of $2.08.  Net income for the year ended September 30, 2005 included a gain on sale of available for sales securities of $680,000, or $.09 per diluted shares and income from discontinued operations of $1,773,000 or $.23 per diluted share.  The weighted average number of common shares outstanding on a diluted basis were 7,959,955 and 7,811,483 for the year ended September 30, 2006 and 2005, respectively.

Commenting on the results of operations for the three months and year ended September 30, 2006, Jeffrey Gould, President and Chief Executive Officer of BRT, noted that the primary reason for the increase in revenues quarter over quarter and year over year was the 39% increase in the average balance of loans outstanding from $183.7 million in the three months ended September 30, 2005, to $255.4 million in the three months ended September 30, 2006 and a 49% increase year over year from $145.6 million in the year ended September 30, 2005 to $216.4 million for the year ended September 30, 2006.  Revenues in both current periods also benefited from an increase in the average interest rate earned on the loan portfolio, an increase in origination fees directly related to the increase in the loan portfolio and an increase in operating income on real estate owned.

On the expense side, Mr. Gould noted that total expenses increased by 56% three months versus three months and 73% year versus year.  82% of the increase three months versus three months and 73% year versus year was a result of the increase in the average balance of borrowings outstanding and an increase in the overall rate paid on such borrowings.  The borrowings were incurred to fund the increased level of BRT’s loan portfolio.  There was also an increase in both current periods in most major expense categories due to the BRT’s increased level of business.  Among other items, there was an increase in the adviser’s fee and an increase in general and administrative expenses, including payroll and payroll related expenses, amortization of restricted stock awards, travel, advertising and promotion and allocated expenses (including allocated payroll) under a shared services agreement.
 
BRT Realty Trust is a mortgage oriented real estate investment trust.

Certain information contained herein is forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended.  BRT intends such forward looking statements to be covered by the safe harbor provisions for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions.  The forward looking statements should not be relied upon since they involve known and unknown risks, uncertainties and other factors, which, in some cases, are beyond BRT’s control and could materially affect actual results, performance or achievements.

Contact: Simeon Brinberg - (516) 466-3100

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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