WINTHROP REALTY TRUST

AT THE COMPANY

Carolyn Tiffany
Chief Operating Officer
(617) 570-4614

                              WINTHROP REALTY TRUST
          ANNOUNCES SALE OF 1,385,000 SHARES OF COMMON STOCK IN SIZELER
                            PROPERTY INVESTORS, INC.

      FOR IMMEDIATE RELEASE - BOSTON, March 14 /PRNewswire-FirstCall/ --
Winthrop Realty Trust (NYSE:FUR), announced today that it has entered into
agreements to sell in privately negotiated transactions 1,385,000 shares of
common stock in Sizeler Property Investors, Inc. ("Sizeler") for an aggregate
purchase price of $19,874,750, resulting in a gain of approximately $6,000,000
exclusive of dividends on such shares. Winthrop Realty Trust continues to hold
374,600 shares of common stock in Sizeler representing 1.77% of the outstanding
common shares of Sizeler.

      In accordance with the terms of the agreement with Sizeler pursuant to
which Michael Ashner, Winthrop Realty Trust's chairman and chief executive
officer, was elected to Sizeler's board, Mr. Ashner resigned as a director of
Sizeler effective immediately.

      Michael Ashner stated "we are pleased with our return on our investment in
Sizeler and wish Sizeler continued success in connection with its exploration of
strategic alternatives."

      Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT)
headquartered in Boston, Massachusetts.

Forward-Looking Statements

      Certain statements contained herein may constitute "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 which may result in the Company canceling or
terminating the rights offering or standby purchasers failing to agree to
purchase unsubscribed common shares. Further information with respect to the
rights offering and Winthrop can be found in Winthrop's filings with the
Securities and Exchange Commission.