AT THE COMPANY

Beverly Bergman
(617) 570-4614

     Net Earnings Per Share-Basic For Years Ended December 31, 2006 and 2005
 Recalculated to be Consistent with First and Second Quarter 2007 Presentation;
                         Net Income Remains as Reported

      BOSTON, August 9 /PRNewswire-FirstCall/ -- Winthrop Realty Trust (NYSE:
FUR) today announced that management concluded that it will recalculate its net
income per Common Share of Beneficial Interest- basic for the years ended
December 31, 2006 and 2005 to be consistent with its first and second quarter
2007 presentation. The recalculation of net income per Common Share of
Beneficial Interest- basic has no impact on the Trust's overall net income, net
income per Common Share of Beneficial Interest- diluted, balance sheet, cash
flow, cash available for distribution or its debt covenants under its loan
facility.

      The net income per Common Share of Beneficial Interest- basic will be
recalculated to apply EITF 03-06, "Participating Securities and the Two Class
Method under FASB Statement No. 128 Earnings Per Share" which requires that the
Trust apply its net income in its earnings per share calculation as if all net
income were distributed. In particular, EITF 03-06 requires that when the
Trust's income exceeds an amount which, if all income were distributed, would
require the Trust to make additional dividends on account of the Series B-1
Preferred Shares, that the net income per Common Share of Beneficial Interest-
basic calculation effectively assumes that the Series B-1 Preferred Shares were
converted with respect to all earnings in excess of such amount. Pursuant to the
terms of the Trust's Series B-1 Preferred Shares, at such time as the per share
dividend on the Trust's Common Shares equal the dividend paid on the Series B-1
Preferred Shares, as converted, all additional dividends would be paid pro rata
on the Common Shares and the Series B-1 Preferred Shares, as converted.

      With respect to the years ended December 31, 2006 and 2005, the effect of
the application of EITF 03-06 to the Trust's net income per Common Share of
Beneficial Interest- basic is as follows:



                                                                            Earnings per Common    Earnings per Common
                                                            Net Income          Share-basic           Share-diluted
      2006
                                                                                                 
               As reported                                   $42,936               $0.92                  $0.71
               After Application of EITF 03-06               $42,936               $0.74                  $0.71
      2005
               As reported                                   $23,621               $0.66                  $0.52
               After Application of EITF 03-06               $23,621               $0.52                  $0.52




      The Trust expect to file shortly a Form 10K/A to provide for the
recalculation.

      Further details regarding the recalculation is set forth in the Trust's
Current Report on Form 8-K being filed today with the Securities and Exchange
Commission and will be available for download at the Company's website
www.winthropreit.com or at the Securities and Exchange Commission website
www.sec.gov

      Winthrop Realty Trust is a NYSE-listed real estate investment trust (REIT)
headquartered in Boston, Massachusetts. Additional information on Winthrop
Realty Trust is available on its Web site at www.winthropreit.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995. With the exception of the historical information contained in this news
release, the matters described herein contain "forward-looking" statements that
involve risk and uncertainties that may individually or collectively impact the
matters herein described. These are detailed from time to time in the "Risk
Factors" section of the Company's SEC reports. Further information relating to
the Company's financial position, results of operations, and investor
information is contained in our annual and quarterly reports filed with the SEC
and available for download at our website www.winthropreit.com or at the SEC
website www.sec.gov.