Exhibit 1

Mr. Urstadt is the direct beneficial owner of 463,114 shares of Common
Stock individually (including 406,250 restricted shares issued pursuant to
the Issuer's Amended and Restated Restricted Stock Award Plan) which,
when added to the 21,300 shares of Common  Stock held by Elinor
Urstadt, his wife, the 7,620 shares of Common  Stock held by the
the Trust Established Under the Urstadt Biddle Properties Inc. Excess
Benefits and Deferred Compensation Plan for the benefit of Mr. Urstadt,
the 1,901,006 shares of Common Stock held by Urstadt Realty Associates
Co LP ("URACO"), a Delaware limited partnership of which Urstadt Property
Company, Inc. ("UPCO") is the general partner (of which Mr. Urstadt is a
controlling shareholder), and of which Mr. Urstadt, Mrs. Urstadt, the
Catherine U. Biddle Irrevocable Trust and the Charles D. Urstadt Irrevocable
Trust (for each of which trusts Mr. Urstadt is the sole trustee) are the
limited partners, and the 536,439 shares of Common Stock held by UPCO, result
in Mr. Urstadt beneficially owning 2,929,479 shares of Common Stock.