BRT REALTY TRUST AMENDS THE TERMS AND REDEEMS $5,000,000 OF ITS JUNIOR SUBORDINATED NOTES

Great Neck, New York, March 15, 2011 -- BRT Realty Trust (NYSE:BRT)today announced that it has entered into a supplemental indenture that amends the terms of BRT’s Junior Subordinated Notes due 2036 (the “Notes”) in the original aggregate principal amount of $42,400,000. The material amendments include reduction of the interest rate on the Notes as set forth below:

Interest Period                                               Prior Interest Rate                  New Interest Rate 

March 15, 2011 through July 31, 2012                        3.50%                                      3.00%

August 1, 2012 through April 29, 2016                        8.37%                                      4.90%

April 30, 2016 through April 30, 2036                        LIBOR + 2.95%                       LIBOR + 2.00% 

During the period commencing on March 15, 2011 and ending July 31, 2012, BRT will continue to pay interest annually in advance.

BRT also redeemed $5,000,000 of the outstanding Notes at par.

The Notes have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from registration requirements.

BRT is a New York-based Real Estate Investment Trust that specializes in the origination and holding for investment of senior and junior commercial mortgage loans secured by real property in the United States. For more information on BRT, please visit ourHome Page.

Caution Concerning Forward-Looking Statements: Materials included in this filing may contain "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 that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words should be considered uncertain and forward-looking.

Contact: Simeon Brinberg, Senior Vice President - (516) 466-3100

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News Source : BRT REALTY TRUST AMENDS THE TERMS AND REDEEMS $5,000,000 OF ITS JUNIOR SUBORDINATED NOTES