Kite Realty Group Trust Announces Land Sales

INDIANAPOLIS--(Business Wire)--
Kite Realty Group Trust (NYSE: KRG) (the "Company") announced today that during
the second quarter it closed on the sale of two ground leased land parcels for
gross proceeds totaling $10.9 million. Net proceeds after closing costs totaled
$10.7 million. A portion of the proceeds has been used to reduce debt and the
balance has been retained in cash.

About Kite Realty Group Trust

Kite Realty Group Trust is a full-service, vertically integrated real estate
investment trust engaged primarily on the development, construction,
acquisition, ownership and operation of high quality neighborhood and community
shopping centers in selected growth markets in the United States. The Company
owns interests in a portfolio of operating retail properties, retail properties
under development and redevelopment, operating commercial properties, a related
parking garage, and parcels of land that may be used for future development of
retail or commercial properties.

Safe Harbor

Certain statements in this document that are not historical fact may constitute
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 which may cause the actual
results of the Company to differ materially from historical results or from any
results expressed or implied by such forward-looking statements, including
without limitation: national and local economic, business, real estate and other
market conditions; the ability of tenants to pay rent; the competitive
environment in which the Company operates; financing risks, including access to
capital at desirable terms; property management risks; the level and volatility
of interest rates; financial stability of tenants; the Company`s ability to
maintain its status as a REIT for federal income tax purposes; acquisition,
disposition, development and joint venture risks; potential environmental and
other liabilities; and other factors affecting the real estate industry
generally. The Company refers you to the documents filed by the Company from
time to time with the Securities and Exchange Commission, which discuss these
and other factors that could adversely affect the Company`s results. The Company
undertakes no obligation to publicly update or revise these forward-looking
statements (including the FFO and net income estimates), whether as a result of
new information, future events or otherwise.

Kite Realty Group Trust
Dan Sink, Chief Financial Officer, 317-577-5609
dsink@kiterealty.com
or
Investors/Media:
Kite Realty Group Trust
Adam Chavers, Investor Relations, 317-713-5684
achavers@kiterealty.com

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