Tanger Declares Dividend

GREENSBORO, N.C., Oct. 8, 2009 (GLOBE NEWSWIRE) -- Tanger Factory Outlet
Centers, Inc. (NYSE:SKT) announced today that its Board of Directors declared a
dividend of $0.3825 per common share for the third quarter ended September 30,
2009. On November 13, 2009, a cash dividend of $0.3825 per share will be payable
to holders of record on October 30, 2009. The Company has paid dividends each
quarter since it became a publicly traded company in May 1993.

The Company's Board of Directors also declared a dividend of $0.46875 per share
on its 3,000,000 7.5% Class C Preferred Shares. A cash dividend of $0.46875 per
Preferred Share will be payable on November 16, 2009 to holders of record on
October 30, 2009.

Tanger Factory Outlet Centers, Inc. (NYSE:SKT), a fully integrated,
self-administered and self-managed publicly traded REIT, presently owns and
operates 31 outlet centers in 22 states coast to coast, totaling approximately
9.2 million square feet of gross leasable area. Tanger also manages for a fee
and owns an interest in two outlet centers containing approximately 950,000
square feet.

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CONTACT: Tanger Factory Outlet Centers, Inc.
Frank C. Marchisello
(336) 834-6834