Tanger Declares Dividend

GREENSBORO, N.C., Jan. 10 /PRNewswire-FirstCall/ -- Tanger Factory Outlet
Centers, Inc. (NYSE: SKT), announced today that its Board of Directors
declared a dividend of $0.3600 per common share for the fourth quarter ended
December 31, 2007. On February 15, 2008, a cash dividend of $0.3600 per share
will be payable to holders of record on January 31, 2008. 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 February 15, 2008 to holders
of record on January 31, 2008.
Tanger Factory Outlet Centers, Inc. (NYSE: SKT), a fully integrated,
self-administered and self-managed publicly traded REIT, presently owns 29
outlet centers in 21 states coast to coast, totaling approximately 8.4 million
square feet of gross leasable area. Tanger also manages for a fee and owns a
50% interest in two outlet centers containing approximately 667,000 square
feet. For more information on Tanger Outlet Centers, visit our web site at
www.tangeroutlet.com.
SOURCE Tanger Factory Outlet Centers, Inc.

Frank C. Marchisello of Tanger Factory Outlet Centers, Inc., +1-336-834-6834