HOUSTON, Jan. 19 /PRNewswire-FirstCall/ -- Weingarten Realty Investors (NYSE: WRI) released today the Federal income tax treatment of its 2008 cash distributions to holders of its Common Shares of Beneficial Interest, its depositary shares of 6.75% Series D Cumulative Redeemable Preferred Shares, its depositary shares of 6.95% Series E Cumulative Redeemable Preferred Shares, its depositary shares of 6.50% Series F Cumulative Preferred Shares and its depositary shares of floating rate Series G Preferred Shares.


    Distributions on common shares traded under the ticker symbol WRI were as
    follows:

       CUSIP   Declaration   Record Date  Payable Date Distribution Per
                   Date                                     Share
     948741103  02/26/2008    03/07/2008   03/17/2008       $0.525
                05/07/2008    06/06/2008   06/16/2008       $0.525
                07/31/2008    09/05/2008   09/15/2008       $0.525
                10/30/2008    12/05/2008   12/15/2008       $0.525
                                           2008 Total       $2.100



    Common share distribution characterization is as follows
    (CUSIP 948741103):

            Taxable         Total       Unrecaptured  Return of Capital
            Ordinary       Capital       Sec. 1250     (Nondividend
            Dividends       Gain           Gain        Distributions)
                        Distributions       (1)
            $0.238832      $0.286168      $0.059523      $0.000000
            $0.238832      $0.286168      $0.059523      $0.000000
            $0.238832      $0.286168      $0.059523      $0.000000
            $0.238832      $0.286168      $0.059523      $0.000000
    Totals  $0.955328      $1.144672      $0.238092      $0.000000

    (1) Represents additional characterization of, and is a part of, "Total
        Capital Gain Distributions."



    Distributions on Weingarten's 6.75% Series D Cumulative Redeemable
    Preferred Shares (NYSE: WRIPrD) were as follows:

       CUSIP   Declaration  Record Date  Payable Date  Distribution Per
                  Date                                     Share
     948741509  02/26/2008   03/07/2008    03/17/2008    $0.421875
                05/07/2008   06/06/2008    06/16/2008    $0.421875
                07/31/2008   09/05/2008    09/15/2008    $0.421875
                10/30/2008   12/05/2008    12/15/2008    $0.421875
                                           2008 Total    $1.687500



    Series D Preferred Share distribution characterization is as follows
    (CUSIP 948741509):
            Taxable         Total       Unrecaptured      Return of
            Ordinary       Capital        Sec. 1250        Capital
            Dividends       Gain            Gain        (Nondividend
                        Distributions        (1)        Distributions)
            $0.191918     $0.229957       $0.047831       $0.000000
            $0.191918     $0.229957       $0.047831       $0.000000
            $0.191918     $0.229957       $0.047831       $0.000000
            $0.191918     $0.229957       $0.047831       $0.000000
    Totals  $0.767672     $0.919828       $0.191324       $0.000000

    (1) Represents additional characterization of, and is a part of, "Total
        Capital Gain Distributions."



    Distributions on Weingarten's 6.95% Series E Cumulative Redeemable
    Preferred Shares (NYSE: WRIPrE) were as follows:

       CUSIP   Declaration  Record Date  Payable Date Distribution Per
                  Date                                     Share
     948741608  02/26/2008   03/07/2008   03/17/2008    $0.434375
                05/07/2008   06/06/2008   06/16/2008    $0.434375
                07/31/2008   09/05/2008   09/15/2008    $0.434375
                10/30/2008   12/05/2008   12/15/2008    $0.434375
                                          2008 Total    $1.737500



    Series E Preferred Share distribution characterization is as follows
    (CUSIP 948741608):

            Taxable        Total       Unrecaptured      Return of Capital
            Ordinary      Capital        Sec. 1250         (Nondividend
            Dividends      Gain            Gain            Distributions)
                        Distributions       (1)
            $0.197605     $0.236770      $0.049248           $0.000000
            $0.197605     $0.236770      $0.049248           $0.000000
            $0.197605     $0.236770      $0.049248           $0.000000
            $0.197605     $0.236770      $0.049248           $0.000000
    Totals  $0.790420     $0.947080      $0.196992           $0.000000

    (1) Represents additional characterization of, and is a part of, "Total
        Capital Gain Distributions."



    Distributions on Weingarten's 6.50% Series F Cumulative Redeemable
    Preferred Shares (NYSE: WRIPrF) were as follows:

       CUSIP   Declaration  Record Date  Payable Date Distribution Per
                  Date                                     Share
     948741889  02/26/2008   03/07/2008   03/17/2008     $0.406250
                05/07/2008   06/06/2008   06/16/2008     $0.406250
                07/31/2008   09/05/2008   09/15/2008     $0.406250
                10/30/2008   12/05/2008   12/15/2008     $0.406250
                                          2008 Total     $1.62500



    Series F Preferred Share distribution characterization is as follows
    (CUSIP 948741889):

            Taxable        Total       Unrecaptured      Return of Capital
            Ordinary      Capital        Sec. 1250         (Nondividend
            Dividends      Gain            Gain            Distributions)
                       Distributions        (1)
            $0.184810    $0.221440       $0.046059          $0.000000
            $0.184810    $0.221440       $0.046059          $0.000000
            $0.184810    $0.221440       $0.046059          $0.000000
            $0.184810    $0.221440       $0.046059          $0.000000
    Totals  $0.739240    $0.885760       $0.184236          $0.000000

    (1) Represents additional characterization of, and is a part of, "Total
        Capital Gain Distributions."



    Distributions on Weingarten's floating rate Series G Cumulative
    Redeemable Preferred Shares (NYSE: WRIPrG) were as follows:

       CUSIP   Declaration  Record Date  Payable Date Distribution Per
                  Date                                     Share
     948741871  02/26/2008  03/07/2008    03/17/2008      $0.384049
                05/07/2008  06/06/2008    06/16/2008      $0.226173
                                          2008 Total      $0.610222



    Series G Preferred Share distribution characterization is as follows
    (CUSIP 948741871):

            Taxable        Total       Unrecaptured      Return of Capital
            Ordinary      Capital        Sec. 1250        (Nondividend
            Dividends      Gain            Gain           Distributions)
                       Distributions        (1)
            $0.174711     $0.209338      $0.043542          $0.000000
            $0.102890     $0.123283      $0.025643          $0.000000
    Totals  $0.277601     $0.332621      $0.069185          $0.000000

    (1) Represents additional characterization of, and is a part of, "Total
        Capital Gain Distributions."

Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Weingarten Realty Investors cash distributions. For additional information, contact Weingarten's Investor Relations Department.

About Weingarten Realty Investors

As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty (NYSE: WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, formed in 1948. Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. The Company's portfolio of 409 properties includes 329 neighborhood and community shopping centers and 80 industrial properties. Including tenant-owned square footage, the Company's portfolio currently totals approximately 74 million square feet under management. Weingarten has one of the most diversified tenant bases of any major REIT in its sector, with the largest of its 5,400 tenants comprising less than 3% of its rental revenues. To learn more about the Company's operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company's or Management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company's regulatory filings with the Securities and Exchange Commission for information or factors, which may impact the Company's performance.

SOURCE Weingarten Realty Investors