Exhibit 99.1

 Ramco-Gershenson Announces Redemption of Its 9.5% Series B Cumulative
           Redeemable Preferred Shares of Beneficial Interest

    FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Oct. 8,
2007--Ramco-Gershenson Properties Trust (NYSE:RPT) announced today
that it will redeem all of its outstanding 9.5% Series B Cumulative
Redeemable Preferred Shares of Beneficial Interest, CUSIP 751452400,
(NYSE:RPT.PRB) on November 12, 2007. The 1,000,000 Series B Preferred
Shares will be redeemed at $25.00 per share, plus accrued and unpaid
dividends to the redemption date without interest. From the redemption
date forward, dividends on the Series B Preferred Shares will no
longer accrue and holders of the Series B Preferred Shares will have
no rights as such holders other than the right to receive the
redemption price, without interest, upon surrender of the Series B
Preferred Shares.

    Payment of the redemption price will be made upon presentation and
surrender of the share certificates of the Series B Preferred Shares
to the paying agent, American Stock Transfer and Trust Company
("AST"), 59 Maiden Lane, New York, NY 10038. For further information,
record holders of the Series B Preferred Shares should contact AST
during its normal business hours at 1-800-937-5449. Holders with
Series B Preferred Shares being held at a bank, brokerage firm or
other nominee should contact such entity with any questions. The
official notice of the redemption is being sent today to record
holders of the Series B Preferred Shares.

    "Given the dividend yield of the Series B Preferred Shares, it
makes sense for us to redeem them at the earliest possible date," said
Dennis Gershenson, President and Chief Executive Officer. "The
redemption of these shares, as well as the redemption of the Series C
Preferred Shares in June of 2007, will have a positive impact on our
fixed charge coverage ratios."

    About Ramco-Gershenson Properties Trust

    Ramco-Gershenson Properties Trust, headquartered in Farmington
Hills, Michigan, is a fully integrated, self-administered,
publicly-traded real estate investment trust (REIT), which owns,
develops, acquires, manages and leases community shopping centers,
regional malls and single tenant retail properties, nationally. The
Trust owns interests in 86 shopping centers totaling approximately
19.2 million square feet of gross leasable area in Michigan, Florida,
Georgia, Ohio, Wisconsin, Tennessee, Indiana, New Jersey, Virginia,
South Carolina, North Carolina, and Maryland. For further information
on Ramco-Gershenson Properties Trust visit the Trust's website at
www.rgpt.com.

    This press release contains forward-looking statements with
respect to the operation of certain of the Trust's properties.
Management of Ramco-Gershenson believes the expectations reflected in
the forward-looking statements made in this press release are based on
reasonable assumptions. Certain factors could occur that might cause
actual results to vary. These include general economic conditions, the
strength of key industries in the cities in which the Trust's
properties are located, the performance of the Trust's tenants at the
Trust's properties and elsewhere and other factors discussed in the
Trust's reports filed with the Securities and Exchange Commission.

    CONTACT: Ramco-Gershenson Properties Trust
             Dennis Gershenson, President & CEO
             or Richard Smith, CFO, 248-350-9900
             Fax: 248-350-9925