Glimcher Realty Trust Launches Visa-Branded Gift Card Program Across Mall Portfolio

May 19, 2004, 01:00 ET from Glimcher Realty Trust

    COLUMBUS, Ohio, May 19 /PRNewswire-FirstCall/ -- Glimcher Realty Trust
 (NYSE:   GRT) has entered into a three-year agreement with NBO Systems, Inc., to
 offer VISA Stored Value Gift Cards at each property in its mall portfolio.
 Implementation of the program was complete across all 25 malls in mid-May
     Gift Cards offer a better alternative to traditional paper gift
 certificates. Card holders are able to register their gift card, offering
 protection from theft or loss. In addition, enhanced features enable shoppers
 to purchase cards on-line from each mall's website or at , or
 by phone at 1-877-GIFT-TO-GO (1-877-443-8864). Card holders can also check
 their card balance on-line.
     Throughout the retail industry, gift cards offer a popular alternative for
 gift giving for any occasion. Since cards are redeemable in any store or
 restaurant that accepts VISA Debit cards, they offer an unlimited selection of
 gift choices.
     "We are pleased to offer this enhanced program for our mall shoppers. To
 date, this program has been widely accepted and its popularity continues to
 grow," said John Hoeller, Senior Vice President-Property Management for
 Glimcher. "Gift Cards are an important tool in supporting our retailers' sales
 efforts, which is always a top priority for our company."
     About the Company
     Glimcher Realty Trust, a real estate investment trust, is a recognized
 leader in the ownership, management, acquisition and development of enclosed
 regional and super-regional malls, and community shopping centers.
     Glimcher Realty Trust's common shares are listed on the New York Stock
 Exchange under the symbol "GRT."  Glimcher Realty Trust's Series F and Series
 G preferred shares are listed on the New York Stock Exchange under the symbols
 "GRT-F" and "GRT-G," respectively.  Glimcher Realty Trust is a component of
 both the Russell 2000(R) Index, representing small cap stocks, and the Russell
 3000(R) Index, representing the broader market
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