BRT Realty Trust Announces $15 million revolving credit facility.

Great Neck, New York, July 30, 2001 -- BRT Realty Trust (NYSE:BRT)announced that it consummated a $15 million secured credit facility with North Fork Bank on July 25, 2001.

Commenting on the closing Jeffrey A. Gould, President and Chief Operating Officer of BRT, noted that the new credit facility affords BRT flexibility to expand its business activities.  As of this date, BRT has not yet drawn on the credit facility.

BRT Realty Trust is a real estate investment trust whose primary business activity is to originate and hold for investment for its own account senior real estate mortgages secured by income producing real property and to a lesser extent junior real estate mortgage loans secured by income producing real property and senior mortgage loans secured by undeveloped real property.  BRT also makes participating mortgage loans and has made equity investments combined with mortgage loans to repeat borrowers.

Certain statements in this press release may be regarded as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially.  Such risks, uncertainties and other factors include, but are not limited to, fluctuations in interest rates, levels of competition, the effect of government regulation, the availability of capital and changes in general and local economic and real estate market conditions.

Contact:    Mark H. Lundy
Vice President
516.466.3100

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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