Exhibit 99.2

December 31, 2008 Supplemental Financial & Operating Statistics

Section Page Company Overview 1 Quarterly & Year-to-Date Financial Results Consolidated Statements of Income 2 Income Statement Detail 3 Earnings Per Common Share 4 Consolidated Balance Sheets 5 Balance Sheet Detail 6 Calculation of Funds from Operations and Funds Available for Distribution 7 Selected Financial and Operating Ratios 8 Quarterly & Year-to-Date Operating Information Same Properties Analysis 9 Leasing Activity Analysis 10 Current Development Projects 11 Current Redevelopment Projects 12 Market Capitalization Information Summary of Outstanding Debt 13 Loan Maturity Summary 14 Market Capitalization Information 15 Common Stock Performance 15 Portfolio Information Property Summary 16-18 Geographic Diversification 19 Anchor, Non-Anchor Tenant Mix 19 National, Regional, Local Tenant Mix 19 Major Tenant Exposure 20 Summary of Expiring GLA 21 Joint Venture Information Joint Ventures Contribution to Funds from Operations 22 Joint Ventures Combining Balance Sheets 23 Summary of Joint Venture Debt 24 Investor Information 25 Table of Contents

Supplemental Financial and Operating Statistics Q4 2008 Ramco-Gershenson Properties Trust (RPT) Page 1 COMPANY OVERVIEW Ramco-Gershenson Properties Trust (NYSE:RPT) is a self-administered and selfmanaged real estate investment trust primarily engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers located primarily in the Midwestern, Mid-Atlantic and Southeastern United States. At December 31, 2008, the Company owned interests in 89 shopping centers with approximately 20.0 million square feet of gross leasable area located in Michigan, Florida, Georgia, Ohio, Wisconsin, Indiana, New Jersey, Maryland, North Carolina, South Carolina, Virginia, Tennessee and Illinois. The Company’s properties consist of 88 community centers and one regional mall. Ramco-Gershenson has a proven track record of generating growth through the management and redevelopment of its shopping center portfolio. In an effort to maximize the potential of each asset, the Company constantly reevaluates the shopping center’s position within its respective market. This effort is part of an overall approach that allows management to anticipate changes in retailing trends and tenant needs; and proactively implement solutions to boost the performance and value of the center namely through enhancement in the tenant mix, improvement of existing rental rates and occupancy growth. Ramco-Gershenson generates additional growth through the construction of new shopping centers. The Company is focused on developing community shopping centers within metropolitan markets where it currently operates or where it believes demand for additional shopping centers exist. Throughout the Company’s history, management’s experience and long-standing relationships with tenants, has allowed it to capitalize on attractive development opportunities. The Company also remains committed to the acquisition of well-located shopping centers, under appropriate market conditions, that may lend themselves to further improvements, either through strategic joint ventures or on-balance sheet transactions. Ramco-Gershenson seeks to attract investors based on the quality and performance of its assets and the experience of its management team. The Company expects to build shareholder value through the proactive management of its assets as well as the selective development and acquisition of shopping centers. The Company is listed on the New York Stock Exchange (NYSE:RPT) and is headquartered in Farmington Hills, Michigan.

Increase Increase 2008 2007 (Decrease) 2008 2007 (Decrease) Revenues: Minimum rents 22,167 $ 24,128 $ (1,961) $ (8.1) % 90,756 $ 96,410 $ (5,654) $ (5.9) % Percentage rents 118 151 (33) (21.9) 636 676 (40) (5.9) Recoveries from tenants 9,994 11,079 (1,085) (9.8) 41,332 43,885 (2,553) (5.8) Fees and management income (see page 3 for detail) 1,455 1,669 (214) (12.8) 6,484 6,831 (347) (5.1) Other income (see page 3 for detail) 1,463 896 567 63.3 2,980 4,484 (1,504) (33.5) Total revenues 35,197 37,923 (2,726) (7.2) 142,188 152,286 (10,098) (6.6) Expenses: Real estate taxes 4,562 4,775 (213) (4.5) 18,695 20,017 (1,322) (6.6) Recoverable operating expenses 5,901 6,423 (522) (8.1) 23,741 24,568 (827) (3.4) Depreciation and amortization 8,462 12,250 (3,788) (30.9) 32,121 36,469 (4,348) (11.9) Other operating 1,720 1,740 (20) (1.1) 4,616 3,777 839 22.2 Loss on impairment of real estate assets 5,103 - 5,103 - 5,103 - 5,103 100.0 General and administrative 3,838 3,341 497 14.9 15,805 14,291 1,514 10.6 Interest expense 9,161 10,960 (1,799) (16.4) 36,518 42,609 (6,091) (14.3) Total expenses 38,747 39,489 (742) (1.9) 136,599 141,731 (5,132) (3.6) Income (loss) from continuing operations before gain on sale of real estate assets, minority interest and earnings from unconsolidated entities (3,550) (1,566) (1,984) 126.7 5,589 10,555 (4,966) (47.0) Gain on sale of real estate assets (see page 3 for detail) 61 1,374 (1,313) (95.6) 19,595 32,643 (13,048) (40.0) Minority interest 419 (87) 506 (581.6) (3,966) (7,270) 3,304 (45.4) Earnings from unconsolidated entities (see page 22 for detail) 557 690 (133) (19.3) 2,506 2,496 10 0.4 Income (loss) from continuing operations (2,513) 411 (2,924) (711.4) 23,724 38,424 (14,700) (38.3) Discontinued operations, net of minority interest: Loss on sale of real estate assets - - - - (400) - (400) 100.0 Income from operations - 70 (70) (100.0) 177 251 (74) (29.5) Income (loss) from discontinued operations - 70 (70) (100.0) (223) 251 (474) (188.8) Net Income (loss) (2,513) 481 (2,994) (622.5) 23,501 38,675 (15,174) (39.2) Preferred stock dividends - (283) 283 (100.0) - (3,146) 3,146 (100.0) Loss on redemption of preferred shares - (1,234) 1,234 - - (1,269) 1,269 (100.0) Net income (loss) available to common shareholders (2,513) $ (1,036) $ (1,477) $ 142.6 % 23,501 $ 34,260 $ (10,759) $ (31.4) % Property Operating Expense Recovery Ratio 95.5 % 98.9 % (3.4) % 97.4 % 98.4 % (1.0) % Percent Change Percent Change Three Months Ended December 31, Twelve Months Ended December 31, Consolidated Statements of Income (in thousands) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 2

Increase Increase 2008 2007 (Decrease) 2008 2007 (Decrease) Fees and management income: Management fees 839 $ 576 $ 263 $ 45.7 % 2,943 $ 2,039 $ 904 $ 44.3 % Leasing fees 157 102 55 53.9 1,134 589 545 92.5 Acquisition related fees - 772 (772) (100.0) 67 2,155 (2,088) (96.9) Development related fees 353 120 233 194.2 1,861 1,775 86 4.8 Other 106 99 7 7.1 479 273 206 75.5 Fee and management income 1,455 $ 1,669 $ (214) $ (12.8) % 6,484 $ 6,831 $ (347) $ (5.1) % Other income: Lease termination income 384 $ 213 $ 171 $ 80.3 % 805 $ 1,900 $ (1,095) $ (57.6) % Temporary income 119 228 (109) (47.8) 592 766 (174) (22.7) Interest income 134 287 (153) (53.3) 359 1,020 (661) (64.8) Previous write-off of receivable 56 89 (33) (37.1) 149 422 (273) (64.7) TIF revenue 656 - 656 100.0 656 - 656 100.0 Other 114 79 35 44.3 419 376 43 11.4 Other income 1,463 $ 896 $ 567 $ 63.3 % 2,980 $ 4,484 $ (1,504) $ (33.5) % Gain (loss) on sale of real estate assets: FFO gain on sales 542 $ 1,302 $ (760) $ (58.4) % 1,248 $ 2,774 $ (1,526) $ (55.0) % Non-FFO gain (loss) on sales (481) 72 (553) (768.1) 18,347 29,869 (11,522) (38.6) Gain (loss) on sale of real estate assets 61 $ 1,374 $ (1,313) $ (95.6) % 19,595 $ 32,643 $ (13,048) $ (40.0) % Percent Change Percent Change Twelve Months Ended December 31, Three Months Ended December 31, Income Statement Detail (in thousands) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 3

2008 2007 2008 2007 Numerator: Income (loss) from continuing operations before minority interest (2,932) $ 498 $ 27,690 $ 45,694 $ Minority interest 419 (87) (3,966) (7,270) Preferred stock dividends - (283) - (3,146) Loss on redemption of preferred shares - (1,234) - (1,269) Income (loss) from continuing operations available to common shareholders (2,513) (1,106) 23,724 34,009 Discontinued operations, net of minority interest: Loss on sale of real estate assets - - (400) - Income from operations - 70 177 251 Net income (loss) available to common shareholders (2,513) (1,036) 23,501 34,260 Add income impact of assumed conversion of preferred shares - - - 1,081 Adjusted numerator for diluted EPS (2,513) $ (1,036) $ 23,501 $ 35,341 $ Denominator: Weighted-average common shares for basic EPS 18,471 18,470 18,471 17,851 Effect of dilutive securities: Preferred shares - - - 624 Options outstanding - 19 7 54 Weighted-average common shares for diluted EPS 18,471 18,489 18,478 18,529 Basic EPS: Income (loss) from continuing operations (0.14) $ (0.06) $ 1.28 $ 1.91 $ Income (loss) from discontinued operations - - (0.01) 0.01 Net income (loss) (0.14) $ (0.06) $ 1.27 $ 1.92 $ Diluted EPS: Income (loss) from continuing operations (0.14) $ (0.06) $ 1.28 $ 1.90 $ Income (loss) from discontinued operations - - (0.01) 0.01 Net income (loss) (0.14) $ (0.06) $ 1.27 $ 1.91 $ December 31, Earnings Per Common Share ("EPS") (in thousands, except per share data) Three Months Ended Twelve Months Ended December 31, Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 4

December 31, September 30, June 30, March 31, December 31, 2008 2008 2008 2008 2007 ASSETS Investment in real estate, net (see page 6 for detail) 830,392 $ 821,270 $ 882,763 $ 880,142 $ 876,410 $ Cash and cash equivalents 5,295 7,035 6,670 15,043 14,977 Restricted cash 4,891 5,555 7,490 6,537 5,777 Accounts receivable, net (see page 6 for detail) 40,736 34,353 39,035 38,460 35,787 Equity investments in and advances to unconsolidated entities (see page 23 for detail) 95,867 98,087 93,626 94,561 117,987 Other assets, net (see page 6 for detail) 37,345 38,102 38,036 38,021 37,561 Total Assets 1,014,526 $ 1,004,402 $ 1,067,620 $ 1,072,764 $ 1,088,499 $ LIABILITIES AND SHAREHOLDERS' EQUITY Mortgages and notes payable (see page 13 for detail) 662,601 $ 637,770 $ 690,999 $ 691,276 $ 690,801 $ Accounts payable and accrued expenses 26,751 25,211 38,020 39,783 57,614 Distributions payable 4,945 9,888 9,888 9,887 9,884 Capital lease obligation 7,191 7,256 7,319 7,382 7,443 Total Liabilities 701,488 680,125 746,226 748,328 765,742 Minority Interest 39,847 40,965 40,650 41,406 41,353 SHAREHOLDERS' EQUITY Common Shares of Beneficial Interest 185 185 186 186 185 Additional paid-in capital 389,528 388,932 389,126 388,686 388,164 Accumulated other comprehensive income (loss) (3,851) (105) 179 (2,649) (845) Cumulative distributions in excess of net income (112,671) (105,700) (108,747) (103,193) (106,100) Total Shareholders' Equity 273,191 283,312 280,744 283,030 281,404 Total Liabilities and Shareholders' Equity 1,014,526 $ 1,004,402 $ 1,067,620 $ 1,072,764 $ 1,088,499 $ Consolidated Balance Sheets (in thousands) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 5

December 31, September 30, June 30, March 31, December 31, 2008 2008 2008 2008 2007 Investments in Real Estate: Land 144,422 $ 134,050 $ 143,390 $ 136,735 $ 136,566 $ Buildings and improvements 813,705 816,954 870,381 880,590 883,067 Construction in progress 46,982 42,851 41,443 32,204 25,739 1,005,109 993,855 1,055,214 1,049,529 1,045,372 Less: accumulated depreciation (174,717) (172,585) (172,451) (169,387) (168,962) Investments in real estate, net 830,392 $ 821,270 $ 882,763 $ 880,142 $ 876,410 $ Accounts Receivable: Accounts receivable tenants, net 23,131 $ 17,316 $ 21,752 $ 21,454 $ 19,177 $ Straight-line rent receivable 17,605 17,037 17,283 17,006 16,610 Accounts receivable, net 40,736 $ 34,353 $ 39,035 $ 38,460 $ 35,787 $ Other Assets: Leasing costs 38,980 $ 38,408 $ 37,654 $ 36,484 $ 35,646 $ Intangible assets 5,836 5,836 6,557 6,557 6,673 Deferred financing costs 6,626 5,552 5,874 5,867 5,818 Other 5,904 5,794 5,643 5,590 5,400 57,346 55,590 55,728 54,498 53,537 Less: accumulated amortization (34,320) (33,159) (32,484) (31,136) (29,956) 23,026 22,431 23,244 23,362 23,581 Prepaid expenses and other 12,967 12,786 12,140 11,378 12,079 Proposed development and acquisition costs 1,352 2,885 2,652 3,281 1,901 Other assets, net 37,345 $ 38,102 $ 38,036 $ 38,021 $ 37,561 $ Balance Sheet Detail (in thousands) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 6

2008 2007 2008 2007 Calculation of Funds from Operations: Net income (loss) (2,513) $ 481 $ 23,501 $ 38,675 $ Add: Depreciation and amortization expense 9,949 13,479 37,850 40,924 Minority interest in partnership: Continuing operations (427) 87 3,930 7,270 Discontinued operations - 11 (35) 40 Discontinued operations, loss on sale of property - - 463 - Less: Loss (gain) on sale of depreciable real estate 481 (72) (18,347) (29,869) Funds from operations 7,490 13,986 47,362 57,040 Less: Series B Preferred Stock dividends - (283) - (2,065) Funds from operations available to common shareholders, assuming conversion of OP units 7,490 $ 13,703 $ 47,362 $ 54,975 $ Weighted average equivalent shares outstanding, diluted 21,390 21,408 21,397 21,449 Funds from operations available to common shareholders, per diluted share 0.35 $ 0.64 $ 2.21 $ 2.56 $ Calculation of Funds Available for Distribution: Funds from operations available to common shareholders 7,490 $ 13,703 $ 47,362 $ 54,975 $ Add: Impairment charge 5,103 - 5,103 - Write-of of development costs 501 - 501 - Write-off of straight-line rent receivable 750 98 815 139 Less: Straight-line rent (568) (375) (1,641) (1,338) Above/below market rents - acquisitions (21) (20) (91) (77) FMV interest adjustment - acquired properties (79) 12 (254) 46 Recurring capital expenditures (non-recoverable) (438) (408) (1,552) (1,962) Funds Available for Distribution 12,738 $ 13,010 $ 50,243 $ 51,783 $ FAD per share available to common shareholders 0.60 $ 0.61 $ 2.35 $ 2.41 $ Dividend per Common Share 0.2313 $ 0.4625 $ 1.6200 $ 1.8500 $ Payout Ratio - FFO 66.1% 72.3% 73.2% 72.2% Payout Ratio - FAD 38.8% 76.1% 69.0% 76.6% Three Months Ended December 31, Twelve Months Ended December 31, Calculation of Funds from Operations and Funds Available for Distribution (in thousands, except per share amounts) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 7

2008 2007 2008 2007 EBITDA Calculation: Operating Income Plus Earnings From Unconsolidated Entities (2,993) $ [1] (876) $ [3] 8,095 $ [2] 13,051 $ [4] Add Back: Income From Discontinued Operations - 81 205 291 Interest Expense 9,161 10,960 36,518 42,609 Depreciation and Amortization 8,462 12,250 32,121 36,469 EBITDA 14,630 22,415 76,939 92,420 Scheduled Principal Payments 2,227 1,277 5,808 5,267 Preferred Dividends - 283 - 3,146 Coverage Ratios: Interest Coverage Ratio (EBITDA / Interest Expense) 1.60 2.05 2.11 2.17 Debt Service Coverage Ratio (EBITDA / Interest Expense + Scheduled Principal Pmts.) 1.28 1.83 1.82 1.93 Fixed Charge Coverage Ratio (EBITDA / Interest Expense + Scheduled Principal Pmts. + Pref. Div.) 1.28 1.79 1.82 1.81 Operating Ratios: NOI 14,993 22,420 80,569 92,609 Operating Margin (NOI / Total Rental Revenue) 46.4% 63.4% 60.7% 65.7% General & Administrative Expense as a Percentage of Total Rental Revenues Under Management [5]: Revenue From REIT Owned Properties 33,742 $ 36,254 $ 135,704 $ 145,455 $ Revenue From Joint Venture Properties 26,386 19,850 97,994 70,445 Revenue From Non-REIT Properties Under Management Contract 915 968 3,953 3,716 Total Rental Revenues Under Management 61,043 $ 57,072 $ 237,651 $ 219,616 $ General and Administrative Expense 3,838 $ 3,341 $ 15,805 $ 14,291 $ General and Administrative Expense / Total Rental Revenues Under Management 6.29% 5.85% 6.65% 6.51% [1] Q4 2008 excludes $61 related to the gain on sale of real estate from continuing operations. Including the gain would not impact the interest coverage ratio for the three months ended 12/31/08. [2] YTD 2008 excludes $19,595 related to the gain on sale of real estate from continuing operations. Including the gain would positively impact the interest coverage ratio by 0.53 for the twelve months ended 12/31/08. [3] Q4 2007 excludes $1,374 related to the gain on sale of real estate from continuing operations. Including the gain would positively impact the interest coverage ratio by 0.12 for the three months ended 12/31/07. [4] YTD 2007 excludes $32,643 related to the gain on sale of real estate from continuing operations. Including the gain would positively impact the interest coverage ratio by 0.77 for the twelve months ended 12/31/07. [5] General & administrative expense shown as a percentage of rental revenues under management which includes base rent, recoveries and other income from wholly owned properties, joint venture properties, and properties that are under management contract. Three Months Ended December 31, Twelve Months Ended December 31, Selected Financial and Operating Ratios Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 8

2008 2007 % Change 2008 2007 % Change Number of Properties [1] 48 48 0% 48 48 0% Occupancy 94.4% 94.5% -0.1% 94.4% 94.5% -0.1% REVENUE: Minimum Rents $17,799 $17,681 0.7% $70,438 $70,005 0.6% Percentage Rent 115 121 -5.2% 561 484 15.9% Recoveries from Tenants 8,828 9,004 -2.0% 35,707 34,291 4.1% Other Income 508 372 36.4% 1,092 1,026 6.5% $27,250 $27,179 0.3% $107,798 $105,806 1.9% EXPENSES: Real Estate Taxes $3,912 $3,826 2.2% $15,655 $15,534 0.8% Property Operating and Maintenance 4,816 4,833 -0.4% 19,286 18,346 5.1% Other Operating 956 310 208.5% [2] 2,202 1,376 60.1% [3] $9,684 $8,969 8.0% $37,144 $35,256 5.4% OPERATING INCOME $17,566 $18,209 -3.5% [2] $70,653 $70,550 0.1% [3] Operating Expense Recovery Ratio 101.1% 104.0% -2.8% 102.2% 101.2% 1.0% [1] Excludes joint venture properties. Note: Excludes centers under redevelopment and reflects recovery adjustments to the proper period. [2] Other operating expenses for the quarter includes $550,000 of additional bad debt reserves and $100,000 of additional legal fees related to collection matters. The majority of the bad debt relates to straight line rent receivable for Circuit City. Excluding these costs, NOI for the three months would have been $18,216, which was slightly higher than 2007. [3] Other operating expenses for the year includes $725,000 of additional bad debt reserves and $100,000 of additional legal fees related to collection matters. The majority of the bad debt relates to the straight-line rent receivable write-off for Circuit City and Linens ‘n Things. Excluding these costs, NOI for the year would have been $71,478, which was 1.32% higher than 2007. Same Properties Analysis (in thousands) Three Months Ended December 31, Twelve Months Ended December 31, Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 9

Non-Anchors Anchors Total Non-Anchors Anchors Total Summary of Expiring Leases: Total Number of Scheduled Lease Expirations 55 6 61 239 24 263 Gross Leasable Area (sq.ft.) 137,186 290,602 427,788 731,877 799,851 1,531,728 Average Base Rent / Sq.Ft ($/sq.ft.) $18.10 $7.55 $10.94 $14.39 $7.55 $10.82 Leases Renewed at Expiration: Number of Leases 31 3 34 144 19 163 Gross Leasable Area (sq.ft.) 85,776 208,659 294,435 465,171 661,753 1,126,924 Renewal Base Rent / Sq.Ft. ($/sq.ft.) $21.39 $6.43 $10.79 $16.33 $7.62 $11.22 Previous Base Rent / Sq.Ft. ($/sq.ft.) $19.64 $5.87 $9.88 $14.63 $7.10 $10.21 PSF Increase / (Decrease) $1.75 $0.56 $0.90 $1.70 $0.52 $1.01 % Increase / (Decrease) 8.9% 9.5% 9.1% 11.6% 7.3% 9.9% Leases Currently Month-to-Month or Under Negotiation for Renewal: Number of Leases 10 1 11 23 1 24 Gross Leasable Area (sq.ft.) 19,252 21,786 41,038 51,009 21,786 72,795 Current Base Rent / Sq.Ft. ($/sq.ft.) $16.56 $11.00 $13.61 $12.89 $11.00 $12.32 Leases Ended at Expiration: Number of Leases 14 2 16 72 4 76 Gross Leasable Area (sq.ft.) 32,158 60,157 92,315 215,697 116,312 332,009 Base Rent / Sq.Ft. ($/sq.ft.) $14.91 $12.14 $13.10 $14.25 $9.49 $12.58 Lease-Up of Vacant Space: [1] Number of Leases 25 3 28 89 5 94 Gross Leasable Area (sq.ft.) 76,929 119,744 196,673 259,955 200,736 460,691 Base Rent / Sq.Ft. ($/sq.ft.) $17.23 $12.03 $14.07 $17.59 $12.50 $15.37 % Increase / (Decrease) from Portfolio Average 4.4% 48.4% 30.0% 6.5% 54.1% 42.1% [1] Lease-Up of Vacant Space is rent starts in the first quarter Current Portfolio Average: Portfolio Average Base Rent / Sq.Ft. (as of 12/31/08) $16.51 $8.11 $10.82 $16.51 $8.11 $10.82 Historical Portfolio Averages: Year Ended 12/31/07 Portfolio Average Base Rent / Sq.Ft. $16.05 $7.90 $10.61 Year Ended 12/31/06 Portfolio Average Base Rent / Sq.Ft. $15.10 $7.67 $10.09 Year Ended 12/31/05 Portfolio Average Base Rent / Sq.Ft. $14.57 $7.21 $9.55 Year Ended 12/31/04 Portfolio Average Base Rent / Sq.Ft. $13.70 $6.61 $8.83 Year Ended 12/31/03 Portfolio Average Base Rent / Sq.Ft. $12.60 $6.29 $8.17 Three Months Ended December 31, 2008 Twelve Months Ended December 31, 2008 Leasing Activity Analysis Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 10

Development Projects (in millions) Property/Location Project Description RPT Ownership % Projected Stabilization Date Stabilized Return on Cost Projected Stabilized NOI Projected Cost Cost to Date 2009 2010 2011 2012 Current Development Projects On-Balance Sheet Assets Northpointe Town Center - Jackson, MI 200,000 SF of retail and outlots. 100% Q4 2012 9.0% $3.2 $35.0 $1.1 $0.1 $0.4 $13.4 $20.0 Rossford Pointe - Rossford, OH 70,000 SF project includes Office Depot, Petsmart and an additional mid-box user as well as 6,400 SF of retail space. 100% Q2 2010 9.1% $0.8 $8.5 $6.3 $1.0 $1.2 $0.0 $0.0 Total On-Balance Sheet Assets 9.0% [1] $3.9 $43.5 $7.4 $1.1 $1.6 $13.4 $20.0 Off-Balance Sheet Assets Hartland Towne Square - Hartland Twp., MI Phase 1 - sale to Meijer for 192,000 SF building, 12,000 SF of retail and outlot building. 20% Q4 2009 8.9% $0.5 $5.3 $1.8 $3.4 $0.0 $0.0 $0.0 Future phases. 20% $16.3 $16.3 8.9% [2] $0.5 $21.6 $18.2 $3.4 $0.0 $0.0 $0.0 Total Off-Balance Sheet Assets 8.9% [1][2] $0.5 $21.6 $18.2 $3.4 $0.0 $0.0 $0.0 RPT Share of Total Off-Balance Sheet Assets 8.9% [1][2] $0.1 $4.3 $3.6 $0.7 $0.0 $0.0 $0.0 Proposed Off-Balance Sheet Assets The Town Center at Aquia - Stafford, VA Phase 1 - 114,340 SF of the mixed-use project. 20% Q4 2009 8.7% $2.2 $25.8 $20.2 [3] $1.0 $4.6 $0.0 $0.0 Future phases - 446,563 SF of the mixed-use project. 20% Q3 2011 8.1% $7.9 $96.7 $20.5 [3] $1.5 $61.6 $13.1 $0.0 Potential additions or land sales. 20% $17.5 $17.5 [3] 8.2% [4] $10.1 $140.0 $58.2 $2.5 $66.2 $13.1 $0.0 Gateway Commons - Lakeland, FL 375,000 SF power center project. 20% Q1 2012 9.0% $5.7 $63.0 $13.8 $1.6 $28.5 $14.3 $4.8 Parkway Shops - Jacksonville, FL 350,000 SF power center project. 20% Q2 2012 9.3% $2.8 $29.9 $11.3 [5] $1.5 $8.6 $6.8 $1.7 Total Proposed Off-Balance Sheet Assets 8.6% [1][4] $18.5 $233.0 $83.4 $5.6 $103.3 $34.2 $6.5 RPT Share of Total Proposed Off-Balance Sheet Assets 8.6% [1][4] $3.7 $46.6 $16.7 $1.1 $20.7 $6.8 $1.3 RPT Share of Current Developments 8.8% [1][2][4] $7.7 $94.4 $27.7 $2.9 $22.2 $20.2 $21.3 [1] Does not include gains on sales held in TRS or fee revenue. [2] Does not include costs associated with the "Future phases" at Hartland Towne Square. [3] Includes pro-rata portion of net book value of existing center and applicable fixed cost allocation. [4] Does not include costs associated with the "Potential additions or land sales" at The Town Center at Aquia. [5] Includes $6,856,775 payable on land purchased under two land contracts due in November 2010. Estimated Additional Costs Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 11

Redevelopment Projects (in millions) Property/Location Project Description RPT Ownership % Projected Stabilization Date Stabilized Return on Cost Projected Stabilized NOI [1] Projected Cost Cost to Date 2009 2010 2011 Current Redevelopment Projects On-Balance Sheet Assets West Allis - West Allis, WI Relocating existing tenants, adding Burlington Coat Factory, adding retail and upgrading façade. 100% Q1 2010 9.1% $1.1 $12.0 $4.0 $5.5 $2.5 $0.0 Holcomb - Roswell, GA Adding theater operator in 39,668 SF. 100% Q4 2009 12.0% $0.5 $4.0 $0.1 $3.9 $0.0 $0.0 Rivertowne Square - Deerfield Beach, FL Adding a 60,000 SF Beall's Department Store. 100% Q1 2010 13.1% $0.2 $1.7 $0.4 $0.8 $0.5 $0.0 Clinton Valley - Sterling Heights, MI Adding a 58,852 SF Hobby Lobby. 100% Q1 2009 13.8% $0.1 $1.0 $0.6 $0.4 $0.0 $0.0 Southbay - Osprey, FL Adding freestanding CVS, relocating tenants, retenanting space and demolishing vacated space. 100% Q3 2009 15.2% $0.1 $1.0 $0.2 $0.8 $0.0 $0.0 Total On-Balance Sheet Assets 10.6% $2.1 $19.7 $5.2 $11.4 $3.0 $0.0 Off-Balance Sheet Assets Troy Marketplace - Troy, MI Retenanting 97,000 SF Home Expo with LA Fitness (which has opened) and additional mid-box uses, constructing new outlot building. 30% Q4 2010 21.0% $2.1 $9.8 $5.1 $0.9 $3.9 $0.0 Old Orchard - West Bloomfield, MI Adding 36,000 SF specialty grocer Plum Market as well as other upscale tenants; plus façade and structural improvements. 30% Q2 2010 12.0% $1.2 $9.6 $4.0 $4.5 $1.1 $0.0 Collins Pointe Plaza - Cartersville, GA Retenanting Winn-Dixie, building additional outlot and small-shop retail space. 20% Q1 2010 15.1% $0.7 $4.7 $0.0 $3.5 $1.2 $0.0 Market Plaza - Glen Ellyn, IL Adding a 19,849 SF Staples. 20% Q1 2009 15.0% $0.2 $1.6 $1.3 $0.3 $0.0 $0.0 Total Off-Balance Sheet Assets 16.2% $4.2 $25.7 $10.4 $9.2 $6.1 $0.0 RPT Share of Total Off-Balance Sheet Assets 16.3% $1.2 $7.1 $3.0 $2.4 $1.7 $0.0 RPT Share of Current Redevelopments 12.1% $3.2 $26.8 $8.2 $13.8 $4.7 $0.0 Future Projects RPT Ownership % Lakeshore Marketplace - Norton Shores, MI Retenant with mid-box use a portion of Elder- Beerman space. Develop new outlots. 100% Sunshine Plaza - Tamarac, FL Taking back 20,000 SF of anchor space to create new mid-box opportunity. 100% Pelican Plaza - Sarasota, FL Adding 20,000 SF specialty grocer. 100% Marketplace of Delray - Delray Beach, FL Reconfiguring center to accommodate up to two new mid-box users. 30% The Shops on Lane Avenue - Columbus, OH Expand existing grocery to prototype size. 20% [1] Represents incremental change in revenue. Estimated Additional Costs Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 12

Percent of Balance Stated Months Total at Interest Maturity To Lender or Servicer Indebtedness 12/31/2008 Rate Date Maturity Fixed Rate Debt West Oaks II/Spring Meadows Travelers Insurance 3.57% 23,643,888 $ 7.0500% Dec-09 11 Promenade at Pleasant Hill Principal Life 1.98% 13,089,728 8.0900% Sep-10 20 Publix at River Crossing Jackson National Life Ins Co. 0.50% 3,281,199 6.6700% Oct-10 22 Parkway Shops St. Johns land contract 0.71% 4,690,000 7.0000% Nov-10 23 Parkway Shops River City Signature land contract 0.33% 2,166,775 6.0000% Nov-10 23 Unsecured Term Loan Facility * KeyBank, as agent 15.09% 100,000,000 5.6655% Dec-10 24 Madison Shopping Center LaSalle Bank N.A. 1.44% 9,508,723 7.5080% May-11 28 Lakeshore Marketplace Wells Fargo/Midland 2.24% 14,809,594 7.6470% Aug-11 31 Sunshine Plaza Shopping Center Nationwide Life 1.73% 11,439,026 7.3500% May-12 41 Coral Creek KeyBank 1.43% 9,497,559 6.7800% Jul-12 43 The Crossroads at Royal Palm L.J. Melody & Co./Salomon 1.71% 11,333,533 6.5000% Aug-12 44 East Town Plaza Citigroup Global Markets 1.68% 11,137,590 5.4500% Jul-13 55 Centre at Woodstock Wachovia 0.69% 4,592,998 6.9100% Jul-13 55 Kentwood Towne Center Nationwide Life 1.42% 9,412,286 5.7400% Jul-13 55 Lantana Plaza Shopping Center Key Bank 1.51% 10,025,558 4.7600% Aug-13 56 Auburn Hills Citigroup Global Markets 1.11% 7,354,972 5.3800% May-14 65 Crossroads Shopping Center Citigroup Global Markets 3.87% 25,618,868 5.3800% May-14 65 Jackson West KeyBank 2.59% 17,180,000 5.2000% Nov-15 83 West Oaks I KeyBank 4.12% 27,300,000 5.2000% Nov-15 83 New Towne Plaza Deutsche Bank 2.99% 19,800,000 5.0910% Dec-15 84 Hoover Eleven Canada Life/GMAC 0.92% 6,127,571 7.6250% Feb-16 86 River City Marketplace JPMorgan Chase Bank, N.A. 16.60% 110,000,000 5.4355% Apr-17 100 Hoover Eleven Canada Life/GMAC 0.34% 2,242,640 7.2000% May-18 114 Junior Subordinated Note ** The Bank of New York Trust Company 4.24% 28,125,000 7.8700% Jan-38 354 Subtotal Fixed Rate Debt 72.80% 482,377,506 $ 6.0107% 75 Variable Rate Mortgages Gaines Marketplace Huntington Bank 1.14% 7,543,342 $ 3.4000% Mar-09 2 Beacon Square Huntington Bank 1.13% 7,479,583 3.9450% Nov-09 10 Subtotal Variable Rate Mortgages 2.27% 15,022,925 $ 3.6713% 6 Variable Rate Secured Facility Secured Revolving Credit Facility - Aquia KeyBank 6.04% 40,000,000 $ 4.2900% Dec-09 12 Subtotal Variable Rate Secured Facilities 6.04% 40,000,000 $ 4.2900% Subtotal Variable Rate Mortgages & Secured Facilities 8.30% 55,022,925 $ 4.1211% 10 Variable Rate Unsecured Facility Unsecured Revolving Credit Facility KeyBank, as agent 18.90% 125,200,000 $ 2.9545% Dec-09 12 Subtotal Variable Rate Unsecured Facilities 18.90% 125,200,000 $ 2.9545% Subtotal Variable Rate Debt 27.20% 180,222,925 $ 3.3106% 11 Total debt 100.00% 662,600,431 $ 5.2763% 57 * Effectively converted to fixed rate through swap agreements. ** Fixed rate until January 30, 2013, and then at LIBOR plus 3.30%. Summary of Outstanding Debt 12/31/08 Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 13

Cumulative Scheduled Total Percentage Percentage Amortization Scheduled Scheduled of Debt of Debt Year Payments Maturities Maturities Maturing Maturing 2009 5,139,265 $ 202,564,757 $ 207,704,021 $ 31.35% 31.35% 2010 4,013,811 122,565,995 126,579,807 19.10% 50.45% 2011 4,599,918 23,332,219 27,932,137 4.22% 54.67% 2012 4,130,892 29,879,687 34,010,579 5.13% 59.80% 2013 3,363,353 30,121,368 33,484,721 5.05% 64.85% 2014 2,505,331 29,676,361 32,181,691 4.86% 69.71% 2015 2,323,334 59,457,889 61,781,223 9.32% 79.03% 2016 382,038 - 382,038 0.06% 79.09% 2017 310,621 110,000,000 110,310,621 16.65% 95.74% 2018 + 108,593 28,125,000 28,233,593 4.26% 100.00% Totals 26,877,156 $ 635,723,275 $ 662,600,431 $ Loan Maturities Split between Scheduled Amortization and Scheduled Maturities 12/31/08 Note: Scheduled maturities in 2009 includes $125,200,000 which represents the balance of the Unsecured Revolving Credit Facility drawn as of December 31, 2008 due at maturity in December 2009, and scheduled maturities in 2010 includes $100,000,000 which represents the balance of the Unsecured Term Loan Facility due at maturity in December 2010. The Unsecured Revolving Credit Facility can be extended to December 2010. Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 14

Debt: Shares Dollars Percentage Fixed Rate Debt 482,377,506 $ 60.64% Variable Rate Debt 180,222,925 $ 22.66% Total Debt 662,600,431 $ 83.30% Equity: Market price Common Shares and Equivalents REIT Shares 6.18 $ 86.43% 18,583,362 114,845,177 $ 14.44% OP Units 13.57% 2,918,809 18,038,240 $ 2.27% Total Common Shares and Equivalents 100.00% 21,502,171 132,883,417 $ 16.70% Total Market Capitalization 795,483,848 $ 100.00% Market Capitalization Information 12/31/08 Common Stock Performance - 01/01/08 through 12/31/08 Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 15

Property Location Ownership % Number of Units Non- Company Owned Company Owned Total Anchor GLA Non- Anchor GLA Total Total Leased Occupancy Total PSF Anchors [2] Operating: Florida Coral Creek Shops Coconut Creek, FL 100% 1992/2002/NA 34 42,112 42,112 67,200 109,312 109,312 93,937 85.9% 1,415,259 $ 15.07 $ Publix Lantana Shopping Center Lantana, FL 100% 1959/1996/2002 22 61,166 61,166 62,444 123,610 123,610 115,768 93.7% 1,227,493 $ 10.60 $ Publix Naples Towne Centre Naples, FL 100% 1982/1996/2003 14 32,680 102,027 134,707 32,680 167,387 134,707 130,794 97.1% 822,386 $ 6.29 $ Goodwill [3], Save-A-Lot, Bealls Pelican Plaza Sarasota, FL 100% 1983/1997/NA 26 35,768 35,768 58,254 94,022 94,022 80,662 85.8% 876,617 $ 10.87 $ Linens 'N Things [6] River City Marketplace Jacksonville, FL 100% 2005/2005/NA 69 342,501 323,907 666,408 221,447 887,855 545,354 522,795 95.9% 8,158,386 $ 15.61 $ Wal-Mart [3], Lowe's[3], Bed Bath & Beyond, Best Buy, Gander Mountain, Michaels, OfficeMax, PETsMART, Ross Dress For Less, Wallace Theaters, Ashley Furniture HomeStore River Crossing Centre New Port Richey, FL 100% 1998/2003/NA 16 37,888 37,888 24,150 62,038 62,038 60,638 97.7% 719,094 $ 11.86 $ Publix Sunshine Plaza Tamarac, FL 100% 1972/1996/2001 28 146,409 146,409 89,317 235,726 235,726 228,730 97.0% 2,033,414 $ 8.89 $ Publix, Old Time Pottery The Crossroads Royal Palm Beach, FL 100% 1988/2002/NA 33 42,112 42,112 72,410 114,522 114,522 104,600 91.3% 1,576,454 $ 15.07 $ Publix Village Lakes Shopping Center Land O' Lakes, FL 100% 1987/1997/NA 24 125,141 125,141 61,355 186,496 186,496 181,649 97.4% 1,114,950 $ 6.14 $ Sweet Bay, Wal-Mart Total / Average 266 375,181 916,530 1,291,711 689,257 1,980,968 1,605,787 1,519,573 94.6% 17,944,052 $ 11.81 $ Georgia Centre at Woodstock Woodstock, GA 100% 1997/2004/NA 14 51,420 51,420 35,328 86,748 86,748 75,660 87.2% 869,537 $ 11.49 $ Publix Conyers Crossing Conyers, GA 100% 1978/1998/NA 15 138,915 138,915 31,560 170,475 170,475 170,475 100.0% 972,308 $ 5.70 $ Burlington Coat Factory, Hobby Lobby Horizon Village Suwanee, GA 100% 1996/2002/NA 22 47,955 47,955 49,046 97,001 97,001 82,486 85.0% 869,415 $ 10.54 $ Publix [4] Mays Crossing Stockbridge, GA 100% 1984/1997/NA 20 100,244 100,244 37,040 137,284 137,284 128,384 93.5% 818,512 $ 6.38 $ ApplianceSmart Factory Outlet, Big Lots, Dollar Tree Promenade at Pleasant Hill Duluth, GA 100% 1993/2004/NA 36 199,555 199,555 95,000 294,555 294,555 261,336 88.7% 2,013,948 $ 7.71 $ Farmers Home Furniture, Old Time Pottery, Publix Total / Average 107 - 538,089 538,089 247,974 786,063 786,063 718,341 91.4% 5,543,720 $ 7.72 $ Michigan Auburn Mile, The Auburn Hills, MI 100% 2000/1999/NA 7 533,659 64,298 597,957 26,238 624,195 90,536 90,536 100.0% 944,457 $ 10.43 $ Best Buy [3], Target [3], Meijer [3], Costco [3], Jo-Ann, Staples Beacon Square Grand Haven, MI 100% 2004/2004/NA 16 103,316 - 103,316 51,387 154,703 51,387 45,932 89.4% 771,156 $ 16.79 $ Home Depot [3] Clinton Pointe Clinton Twp., MI 100% 1992/2003/NA 14 112,876 65,735 178,611 69,595 248,206 135,330 104,780 77.4% 1,048,031 $ 10.00 $ OfficeMax, Sports Authority, Target [3] Clinton Valley Mall Sterling Heights, MI 100% 1977/1996/2002 8 55,175 55,175 44,106 99,281 99,281 99,281 100.0% 1,567,240 $ 15.79 $ Office Depot, DSW Shoe Warehouse Eastridge Commons Flint, MI 100% 1990/1996/2001 16 117,777 117,972 235,749 51,704 287,453 169,676 161,459 95.2% 1,682,883 $ 10.42 $ Farmer Jack (A&P) [4], Office Depot, Target [3], TJ Maxx Edgewood Towne Center Lansing, MI 100% 1990/1996/2001 17 227,193 23,524 250,717 62,233 312,950 85,757 75,122 87.6% 850,478 $ 11.32 $ OfficeMax, Sam's Club [3], Target [3] Fairlane Meadows Dearborn, MI 100% 1987/2003/NA 22 201,300 56,586 257,886 80,922 338,808 137,508 126,301 91.8% 1,840,731 $ 14.57 $ Best Buy, Citi Trends, Target [3], Burlington Coat Factory [3] Fraser Shopping Center Fraser, MI 100% 1977/1996/NA 8 47,632 47,632 23,915 71,547 71,547 51,335 71.8% 307,087 $ 5.98 $ Oakridge Market Gaines Marketplace Gaines Twp., MI 100% 2005/2004/NA 15 351,981 351,981 40,188 392,169 392,169 387,669 98.9% 1,648,172 $ 4.25 $ Meijer, Staples, Target Hoover Eleven Warren, MI 100% 1989/2003/NA 50 153,810 153,810 139,528 293,338 293,338 239,235 81.6% 3,008,760 $ 12.58 $ Kroger, Marshalls, OfficeMax Jackson Crossing Jackson, MI 100% 1967/1996/2002 65 254,242 222,192 476,434 178,784 655,218 400,976 374,929 93.5% 3,603,701 $ 9.61 $ Kohl's, Sears [3], Target [3], TJ Maxx, Toys "R" Us, Best Buy, Bed Bath & Beyond, Jackson 10 Theater Jackson West Jackson, MI 100% 1996/1996/1999 5 194,484 194,484 15,837 210,321 210,321 210,321 100.0% 1,636,531 $ 7.78 $ Circuit City [7], Lowe's, Michaels, OfficeMax Kentwood Towne Centre Kentwood, MI 77.88% 1988/1996//NA 18 101,909 122,390 224,299 61,265 285,564 183,655 164,663 89.7% 1,268,114 $ 7.70 $ Hobby Lobby, OfficeMax, Rooms Today [3] Lake Orion Plaza Lake Orion, MI 100% 1977/1996/NA 9 126,195 126,195 14,878 141,073 141,073 133,753 94.8% 517,129 $ 3.87 $ Hollywood Super Market, Kmart Lakeshore Marketplace Norton Shores, MI 100% 1996/2003/NA 21 126,800 258,638 385,438 89,015 474,453 347,653 339,074 97.5% 2,727,144 $ 8.04 $ Barnes & Noble, Dunham's, Elder-Beerman, Hobby Lobby, T J Maxx, Toys "R" Us, Target[3] Livonia Plaza Livonia, MI 100% 1988/2003/NA 20 90,831 90,831 43,042 133,873 133,873 122,922 91.8% 1,254,444 $ 10.21 $ Kroger, TJ Maxx Madison Center Madison Heights, MI 100% 1965/1997/2000 15 167,830 167,830 59,258 227,088 227,088 213,332 93.9% 1,394,274 $ 6.54 $ Dunham's [4], Kmart New Towne Plaza Canton Twp., MI 100% 1975/1996/2005 16 126,425 126,425 59,943 186,368 186,368 183,568 98.5% 1,843,850 $ 10.04 $ Kohl's, Jo-Ann Oak Brook Square Flint, MI 100% 1982/1996/NA 20 79,744 79,744 72,629 152,373 152,373 141,830 93.1% 1,206,277 $ 8.51 $ TJ Maxx, Hobby Lobby Roseville Towne Center Roseville, MI 100% 1963/1996/2004 9 206,747 206,747 40,221 246,968 246,968 246,968 100.0% 1,695,963 $ 6.87 $ Marshalls, Wal-Mart, Office Depot Shoppes at Fairlane Meadows Dearborn, MI 100% 2007/NA/NA 8 - - 19,925 19,925 19,925 13,197 66.2% 321,538 $ 24.36 $ Southfield Plaza Southfield, MI 100% 1969/1996/2003 14 128,339 128,339 37,660 165,999 165,999 163,749 98.6% 1,332,519 $ 8.14 $ Burlington Coat Factory, Marshalls, Staples Taylor Plaza Taylor, MI 100% 1970/1996/2006 1 102,513 102,513 - 102,513 102,513 102,513 100.0% 439,992 $ 4.29 $ Home Depot Tel-Twelve Southfield, MI 100% 1968/1996/2003 21 479,869 479,869 43,542 523,411 523,411 523,411 100.0% 5,714,184 $ 10.92 $ Meijer, Lowe's, Office Depot, Best Buy, DSW Shoe Warehouse, Michaels, PETsMART West Oaks I Novi, MI 100% 1979/1996/2004 8 215,251 215,251 30,270 245,521 245,521 245,521 100.0% 2,684,239 $ 10.93 $ Circuit City [8], OfficeMax, DSW Shoe Warehouse, Home Goods, Michaels, Gander Mountain West Oaks II Novi, MI 100% 1986/1996/2000 30 221,140 90,753 311,893 77,201 389,094 167,954 167,954 100.0% 2,876,141 $ 17.12 $ Value City Furniture [3], Bed Bath & Beyond [3], Marshalls, Toys "R" Us[3], Kohl's[3], Jo-Ann Total / Average 453 2,000,212 3,548,914 5,549,126 1,433,286 6,982,412 4,982,200 4,729,355 94.9% 44,185,035 $ 9.34 $ North Carolina Ridgeview Crossing Elkin, NC 100% 1989/1997/1995 20 168,659 168,659 42,865 211,524 211,524 188,449 89.1% 966,465 $ 5.13 $ Belk Department Store, Ingles Market, Wal-Mart[4] Total / Average 20 - 168,659 168,659 42,865 211,524 211,524 188,449 89.1% 966,465 $ 5.13 $ Anchors: Company Owned GLA Year Constructed / Acquired / Year of Latest Renovation or Expansion (1) Annualized Base Rent Operating Property Summary As of December 31, 2008 Total Shopping Center GLA: Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 16

Property Location Ownership % Number of Units Non- Company Owned Company Owned Total Anchor GLA Non- Anchor GLA Total Total Leased Occupancy Total PSF Anchors [2] Anchors: Company Owned GLA Year Constructed / Acquired / Year of Latest Renovation or Expansion (1) Annualized Base Rent Operating Property Summary As of December 31, 2008 Total Shopping Center GLA: Ohio Crossroads Centre Rossford, OH 100% 2001/2001/NA 22 126,200 255,091 381,291 99,054 480,345 354,145 312,545 88.3% 3,042,325 $ 9.73 $ Home Depot, Target [3], Giant Eagle, Michaels OfficeMax Center Toledo, OH 100% 1994/1996/NA 1 22,930 22,930 - 22,930 22,930 22,930 100.0% 265,988 $ 11.60 $ OfficeMax Rossford Pointe Rossford, OH 100% 2006/2005/NA 6 41,077 41,077 6,400 47,477 47,477 44,277 93.3% 552,727 $ 12.48 $ PETsMART, Office Depot Spring Meadows Place Holland, OH 100% 1987/1996/2005 28 384,770 110,691 495,461 101,126 596,587 211,817 205,669 97.1% 2,321,461 $ 11.29 $ Dick's Sporting Goods [3], Best Buy [3], Kroger [3], Target [3], T J Maxx, OfficeMax, PETsMART, Ashley Furniture, Sam's Club[3], Big Lots[3] Troy Towne Center Troy, OH 100% 1990/1996/2003 18 197,109 86,584 283,693 58,026 341,719 144,610 139,670 96.6% 874,158 $ 6.26 $ Wal-Mart[3], Kohl's Total / Average 75 708,079 516,373 1,224,452 264,606 1,489,058 780,979 725,091 92.8% 7,056,658 $ 9.73 $ South Carolina Taylors Square Taylors, SC 100% 1989/1997/2005 14 207,455 207,455 33,777 241,232 241,232 238,476 98.9% 1,431,519 $ 6.00 $ Wal-Mart Total / Average 14 - 207,455 207,455 33,777 241,232 241,232 238,476 98.9% 1,431,519 $ 6.00 $ Tennessee Northwest Crossing Knoxville, TN 100% 1989/1997/NA 11 274,291 274,291 29,933 304,224 304,224 304,224 100.0% 1,810,275 $ 5.95 $ Wal-Mart, Ross Dress for Less, Greggs Appliances Northwest Crossing II Knoxville, TN 100% 1999/1999/NA 2 23,500 23,500 4,674 28,174 28,174 28,174 100.0% 308,969 $ 10.97 $ OfficeMax Total / Average 13 - 297,791 297,791 34,607 332,398 332,398 332,398 100.0% 2,119,244 $ 6.38 $ Wisconsin East Town Plaza Madison, WI 100% 1992/2000/2000 18 132,995 144,685 277,680 64,274 341,954 208,959 185,551 88.8% 1,783,592 $ 9.61 $ Burlington Coat Factory, Marshalls, Jo-Ann, Borders, Toys "R" Us[3], Shopko[3] Total / Average 18 132,995 144,685 277,680 64,274 341,954 208,959 185,551 88.8% 1,783,592 $ 9.61 $ Operating Total / Average 966 3,216,467 6,338,496 9,554,963 2,810,646 12,365,609 9,149,142 8,637,234 94.4% 81,030,286 $ 9.38 $ Joint Ventures: Florida Cocoa Commons Cocoa, FL 30% 2001/2007/NA 23 51,420 51,420 38,696 90,116 90,116 75,120 83.4% 881,624 $ 11.74 $ Publix Cypress Point Clearwater, FL 30% 1983/2007/NA 22 94,500 94,500 64,195 158,695 158,695 154,540 97.4% 1,749,380 $ 11.32 $ Burlington Coat Factory, The Fresh Market Kissimmee West Kissimmee, FL 7% 2005/2005/NA 17 184,600 67,000 251,600 48,586 300,186 115,586 114,386 99.0% 1,438,731 $ 12.58 $ Jo-Ann, Marshalls,Target [3] Marketplace of Delray Delray Beach, FL 30% 1981/2005/NA 47 103,193 103,193 119,711 222,904 222,904 195,114 87.5% 2,429,932 $ 12.45 $ David Morgan Fine Arts[5,8], Office Depot, Winn-Dixie Martin Square Stuart, FL 30% 1981/2005/NA 14 291,432 291,432 39,673 331,105 331,105 325,155 98.2% 2,067,677 $ 6.36 $ Home Depot, Howards Interiors [5], Kmart, Staples Mission Bay Plaza Boca Raton, FL 30% 1989/2004/NA 57 159,147 159,147 113,719 272,866 272,866 251,654 92.2% 4,738,154 $ 18.83 $ Albertsons, LA Fitness Sports Club, OfficeMax, Toys "R" Us Plaza at Delray, The Delray Beach, FL 20% 1979/2004/NA 48 193,967 193,967 137,529 331,496 331,496 280,111 84.5% 4,657,419 $ 16.63 $ Books-A-Million, Marshalls, Publix, Regal Cinemas, Staples Shenandoah Square Davie, FL 40% 1989/2001/NA 43 42,112 42,112 81,534 123,646 123,646 114,916 92.9% 1,861,297 $ 16.20 $ Publix Shoppes of Lakeland Lakeland, FL 7% 1985/1996/NA 22 123,400 122,441 245,841 66,447 312,288 188,888 188,888 100.0% 2,194,719 $ 11.62 $ Michaels, Ashley Furniture, Linens 'N Things [7], Target [3] Treasure Coast Commons Jensen Beach, FL 30% 1996/2004/NA 3 92,979 92,979 - 92,979 92,979 92,979 100.0% 1,154,920 $ 12.42 $ Barnes & Noble, OfficeMax, Sports Authority Village of Oriole Plaza Delray Beach, FL 30% 1986/2005/NA 39 42,112 42,112 113,640 155,752 155,752 152,232 97.7% 2,078,678 $ 13.65 $ Publix Village Plaza Lakeland, FL 30% 1989/2004/NA 26 64,504 64,504 82,251 146,755 146,755 140,835 96.0% 1,630,100 $ 11.57 $ Circuit City [8], Staples Vista Plaza Jensen Beach, FL 30% 1998/2004/NA 9 87,072 87,072 22,689 109,761 109,761 109,761 100.0% 1,427,496 $ 13.01 $ Bed Bath & Beyond, Circuit City [8], Michaels West Broward Shopping Center Plantation, FL 30% 1965/2005/NA 19 81,801 81,801 74,435 156,236 156,236 154,185 98.7% 1,608,336 $ 10.43 $ Badcock, National Pawn Shop, Save-A-Lot, US Postal Service Total / Average 389 308,000 1,493,680 1,801,680 1,003,105 2,804,785 2,496,785 2,349,876 94.1% 29,918,462 $ 12.73 $ Georgia Paulding Pavilion Hiram, GA 20% 1995/2006/NA 13 60,509 60,509 24,337 84,846 84,846 76,896 90.6% 1,181,994 $ 15.37 $ Sports Authority, Staples Peachtree Hill Duluth, GA 20% 1986/2007/NA 35 87,411 87,411 63,461 150,872 150,872 122,471 81.2% 1,249,566 $ 10.20 $ Kroger, Outrageous Bargains Total / Average 48 - 147,920 147,920 87,798 235,718 235,718 199,367 84.6% 2,431,560 $ 12.20 $ Illinois Rolling Meadows Rolling Meadows, IL 20% 1956/2008/1995 18 - 83,230 83,230 47,206 130,436 130,436 102,107 78.3% 1,245,503 $ 12.20 $ Jewel Osco Total / Average 18 - 83,230 83,230 47,206 130,436 130,436 102,107 78.3% 1,245,503 $ 12.20 $ Indiana Merchants' Square Carmel, IN 20% 1970/2004/NA 48 80,000 69,504 149,504 209,993 359,497 279,497 236,598 84.7% 2,703,984 $ 11.43 $ Marsh [3], Cost Plus, Hobby Lobby Nora Plaza Indianapolis, IN 7% 1958/2007/2002 25 123,800 58,144 181,944 82,322 264,266 140,466 130,147 92.7% 1,785,859 $ 13.72 $ Target [3], Marshalls, Whole Foods Total / Average 73 203,800 127,648 331,448 292,315 623,763 419,963 366,745 87.3% 4,489,843 $ 12.24 $ Maryland Crofton Centre Crofton, MD 20% 1974/1996/NA 18 196,570 196,570 54,941 251,511 251,511 251,511 100.0% 1,836,194 $ 7.30 $ Basics/Metro, Kmart, Leather Expo, Gold's Gym Total / Average 18 - 196,570 196,570 54,941 251,511 251,511 251,511 100.0% 1,836,194 $ 7.30 $ Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 17

Property Location Ownership % Number of Units Non- Company Owned Company Owned Total Anchor GLA Non- Anchor GLA Total Total Leased Occupancy Total PSF Anchors [2] Anchors: Company Owned GLA Year Constructed / Acquired / Year of Latest Renovation or Expansion (1) Annualized Base Rent Operating Property Summary As of December 31, 2008 Total Shopping Center GLA: Michigan Gratiot Crossing Chesterfield, MI 30% 1980/2005/NA 15 122,406 122,406 43,138 165,544 165,544 150,586 91.0% 1,324,240 $ 8.79 $ Jo-Ann, Kmart Hunter's Square Farmington Hills, MI 30% 1988/2005/NA 36 194,236 194,236 163,066 357,302 357,302 342,715 95.9% 6,338,248 $ 18.49 $ Bed Bath & Beyond, Borders, Loehmann's, Marshalls, T J Maxx Millennium Park Livonia, MI 30% 2000/2005/NA 14 352,641 241,850 594,491 38,700 633,191 280,550 244,050 87.0% 3,223,124 $ 13.21 $ Home Depot, Marshalls, Michaels, PETsMART, Costco[3], Meijer[3] Southfield Plaza Expansion Southfield, MI 50% 1987/1996/2003 11 - - 19,410 19,410 19,410 12,410 63.9% 204,715 $ 16.50 $ West Acres Commons Flint, MI 40% 1998/2001/NA 14 59,889 59,889 35,200 95,089 95,089 84,489 88.9% 1,068,063 $ 12.64 $ VG's Food Center Winchester Center Rochester Hills, MI 30% 1980/2005/NA 16 224,356 224,356 89,309 313,665 313,665 310,269 98.9% 4,464,368 $ 14.39 $ Borders, Dick's Sporting Goods, Linens 'N Things [6], Marshalls, Michaels, PETsMART Total / Average 106 352,641 842,737 1,195,378 388,823 1,584,201 1,231,560 1,144,519 92.9% 16,622,757 $ 14.52 $ New Jersey Chester Springs Shopping Center Chester, NJ 20% 1970/1996/1999 42 81,760 81,760 142,393 224,153 224,153 209,690 93.5% 3,198,394 $ 15.25 $ Shop-Rite Supermarket, Staples Total / Average 42 - 81,760 81,760 142,393 224,153 224,153 209,690 93.5% 3,198,394 $ 15.25 $ Ohio Olentangy Plaza Columbus, OH 20% 1981/2007/1997 41 139,130 139,130 114,800 253,930 253,930 230,224 90.7% 2,409,440 $ 10.47 $ Eurolife Furniture, Marshalls, MicroCenter, Stitching Post, Sunflower Market[4] The Shops on Lane Avenue Upper Arlington, OH 20% 1952/2007/2004 47 46,574 46,574 130,579 177,153 177,153 155,608 87.8% 2,891,379 $ 18.58 $ Bed Bath & Beyond, Whole Foods Total / Average 88 - 185,704 185,704 245,379 431,083 431,083 385,832 89.5% 5,300,819 $ 13.74 $ JV Total / Average 782 864,441 3,159,249 4,023,690 2,261,960 6,285,650 5,421,209 5,009,647 92.4% 65,043,533 $ 12.98 $ Operating Under Redevelopment: Rivertowne Square Deerfield Beach, FL 100% 1980/1998/NA 16 70,948 70,948 46,474 117,422 117,422 84,322 71.8% 770,480 $ 9.14 $ Winn-Dixie Southbay Shopping Center Osprey, FL 100% 1978/1998/NA 18 31,700 31,700 52,190 83,890 83,890 56,030 66.8% 379,338 $ 6.77 $ Bealls Clearance Store Holcomb Center Roswell, GA 100% 1986/1996/NA 25 39,668 39,668 67,385 107,053 107,053 26,605 24.9% 297,168 $ 11.17 $ Clinton Valley Sterling Heights, MI 100% 1985/1996/NA 11 30,847 30,847 51,149 81,996 81,996 75,506 92.1% 623,706 $ 8.26 $ Big Lots The Towne Center at Aquia Stafford, VA 100% 1989/1998/NA 15 86,184 86,184 42,786 128,970 128,970 116,484 90.3% 2,452,071 $ 21.05 $ Northrop Grumman, Regal Cinemas West Allis Towne Centre West Allis, WI 100% 1987/1996/NA 28 163,069 163,069 114,134 277,203 277,203 232,895 84.0% 1,553,565 $ 6.67 $ Kmart, Dollar Tree, Big Lots, Office Depot Total / Average 113 - 422,416 422,416 374,118 796,534 796,534 591,842 74.3% 6,076,327 $ 10.27 $ Joint Venture Under Redevelopment: Collins Pointe Plaza Cartersville, GA 20% 1987/2006/NA 17 46,358 46,358 34,684 81,042 81,042 22,000 27.1% 268,523 $ 12.21 $ Market Plaza Glen Ellyn, IL 20% 1965/2007/1996 37 46,230 46,230 116,475 162,705 162,705 121,943 74.9% 1,821,924 $ 14.94 $ Jewel Osco Old Orchard W. Bloomfield, MI 30% 1972/2007/NA 21 36,044 36,044 50,860 86,904 86,904 19,495 22.4% 424,780 $ 21.79 $ Troy Marketplace Troy, MI 30% 2000/2005/NA 10 20,600 192,178 212,778 23,813 236,591 215,991 129,696 60.0% 2,598,348 $ 20.03 $ Nordstom Rack, PETsMART, REI [3], LA Fitness Total / Average 85 20,600 320,810 341,410 225,832 567,242 546,642 293,134 53.6% 5,113,576 $ 17.44 $ PORTFOLIO TOTAL / AVERAGE 1946 4,101,508 10,240,971 14,342,479 5,672,556 20,015,035 15,913,527 14,531,857 91.3% 157,263,723 $ 10.82 $ [1] Represents year constructed/acquired/year of latest renovation or expansion by either the Company or the former Ramco Group, as applicable. [2] We define anchor tenants as single tenants which lease 19,000 square feet or more at a property. [3] Non-Company owned anchor space [4] Tenant closed - lease obligated. [5] Tenant lease expired, though remains in occupancy as month to month tenant. [6] Tenant closed in Bankruptcy, though Leases are guaranteed by CVS. [7] Tenant closed in Bankruptcy 12/22/08, though paid charges through 12/31/08. [8] Tenant in Bankruptcy. Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 18

BY RENT [1] BY GLA [2] BY RENT [1] BY GLA [2] BY RENT [1] BY GLA [2] Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 19 GEOGRAPHIC DIVERSIFICATION ANCHOR, NON-ANCHOR TENANT MIX CREDIT QUALITY TENANT MIX MI: Michigan FL: Florida OH: Ohio IN: Indiana GA: Georgia WI: Wisconsin ANCHORS: Spaces greater than or equal to 19,000 square feet NON-ANCHORS: Spaces of less than 19,000 square feet NAT: National REG: Regional LOC: Local MI 41% FL 31% GA 5% All Others 10% LEGEND LEGEND LEGEND [1] Figures shown represent annualized base rents [2] Figures shown represent occupied Gross Leasable Area ANCHOR 51% NON-ANCHOR 49% ANCHOR 68% NON-ANCHOR 32% NAT 69% LOC 18% REG 13% NAT 70% IN 3% LOC 13% REG 17% MI 42% FL 27% OH 8% GA 8% All Others 10% WI 2% IN 2% WI 3% OH 8%

Lease Name Number of Leases Leased GLA as of 12/31/08 (Sq.Ft.) % of Total Company Owned GLA Total Annualized Base Rent Annualized Base Rent/Square Foot % of Base Rental Revenue as of 12/31/08 T.J. Maxx/Marshalls 19 611,154 3.84% $5,726,587 $9.37 3.64% Publix 12 574,794 3.61% 4,534,891 $7.89 2.88% Home Depot 4 487,203 3.06% 3,259,492 $6.69 2.07% Wal-Mart 5 746,335 4.69% 3,232,787 $4.33 2.06% OfficeMax 12 273,720 1.72% 3,173,220 $11.59 2.02% Kmart 6 618,341 3.89% 2,717,603 $4.39 1.73% Jo-Ann 7 230,976 1.45% 2,480,777 $10.74 1.58% PETsMART 7 160,428 1.01% 2,283,195 $14.23 1.45% Michaels Stores 9 199,724 1.26% 2,187,349 $10.95 1.39% Dollar Tree 23 250,595 1.57% 2,148,959 $8.58 1.37% Best Buy 4 141,895 0.89% 2,072,663 $14.61 1.32% Staples 9 204,443 1.28% 1,935,886 $9.47 1.23% Bed Bath & Beyond 5 154,599 0.97% 1,846,043 $11.94 1.17% Gander Mountain 2 159,791 1.00% 1,844,967 $11.55 1.17% Lowe's Home Centers 2 270,394 1.70% 1,822,956 $6.74 1.16% 126 5,084,392 31.95% $41,267,375 $8.12 26.24% *Based upon percentage of annualized base rent. Major Tenant Exposure* as of December 31, 2008 Annualized Base Rent in Place at 12/31/08 Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 20

All Leases Lease Expiration Year Number of Leases Expiring GLA Under Expiring Leases % of Company Owned GLA Total Annualized Base Rent % of Annualized Base Rent Annualized Base Rent per Square Foot 2008 58 172,645 1.19% $2,030,928 1.29% $11.76 2009 232 1,083,960 7.46% 11,850,156 7.54% 10.93 2010 253 1,469,991 10.12% 17,395,042 11.06% 11.83 2011 277 1,380,781 9.50% 18,290,621 11.63% 13.25 2012 222 1,394,867 9.60% 16,188,709 10.29% 11.61 2013 196 1,584,224 10.90% 18,808,804 11.96% 11.87 2014 99 1,286,259 8.85% 11,457,697 7.29% 8.91 2015 39 652,065 4.49% 7,211,897 4.59% 11.06 2016 68 1,388,744 9.56% 14,429,379 9.18% 10.39 2017 48 791,777 5.45% 10,615,521 6.75% 13.41 2018+ 92 3,326,544 22.89% 28,984,968 18.43% 8.71 Total 1,584 14,531,857 100.00% $157,263,722 100.00% $10.82 All Anchor Leases Lease Expiration Year Number of Leases Expiring GLA Under Expiring Leases % of Company Owned GLA Total Annualized Base Rent % of Annualized Base Rent Annualized Base Rent per Square Foot 2008 2 48,233 0.49% $453,488 0.57% $9.40 2009 11 469,675 4.77% 2,930,108 3.67% 6.24 2010 21 754,937 7.67% 6,122,505 7.67% 8.11 2011 14 465,334 4.73% 3,569,197 4.47% 7.67 2012 16 715,690 7.27% 4,449,550 5.58% 6.22 2013 26 1,048,908 10.66% 8,916,275 11.18% 8.50 2014 20 962,353 9.78% 5,985,747 7.50% 6.22 2015 14 521,034 5.30% 4,997,579 6.26% 9.59 2016 28 1,160,433 11.80% 9,990,035 12.52% 8.61 2017 18 668,620 6.80% 8,167,553 10.24% 12.22 2018+ 43 3,022,929 30.73% 24,199,832 30.32% 8.01 Total 213 9,838,146 100.00% $79,781,869 100.00% $8.11 All Non-Anchor Leases Lease Expiration Year Number of Leases Expiring GLA Under Expiring Leases % of Company Owned GLA Total Annualized Base Rent % of Annualized Base Rent Annualized Base Rent per Square Foot 2008 56 124,412 2.65% $1,577,440 2.04% $12.68 2009 221 614,285 13.09% 8,920,048 11.51% 14.52 2010 232 715,054 15.23% 11,272,537 14.55% 15.76 2011 263 915,447 19.50% 14,721,424 19.00% 16.08 2012 206 679,177 14.47% 11,739,159 15.15% 17.28 2013 170 535,316 11.40% 9,892,529 12.77% 18.48 2014 79 323,906 6.90% 5,471,950 7.06% 16.89 2015 25 131,031 2.79% 2,214,318 2.86% 16.90 2016 40 228,311 4.86% 4,439,344 5.73% 19.44 2017 30 123,157 2.62% 2,447,968 3.16% 19.88 2018+ 49 303,615 6.49% 4,785,136 6.18% 15.76 Total 1,371 4,693,711 100.00% $77,481,853 100.00% $16.51 Summary of Expiring GLA Annualized Base Rent in Place at 12/31/08 Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 21

For Three Months Ended December 31, 2008 Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Ramco RM Ramco Jacksonville S-12 Ramco/ Ramco/ Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Hartland SC LLC North Industrial LLC Associates West Acres LLC Shenandoah LLC Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Hartland River City Southfield West Acres Shenandoah Ramco Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Towne Square North Ind Plaza Expansion Commons Square Consolidated Consolidated Consolidated Consolidated Consolidated Indianapolis, IN Hartland, MI Jacksonville, FL Southfield, MI Flint, MI Davie, FL Interest Total revenue 13,929 $ 8,923 $ 387 $ 1,050 $ 255 $ 737 $ - $ 84 $ 334 $ 687 $ 6,730 $ Operating expense 4,689 3,662 103 373 (228) - 6 59 114 299 2,365 $ Depreciation and amortization 3,632 2,586 139 388 166 43 - 10 70 138 1,770 Interest expense 4,074 3,180 49 - - - - 15 181 226 2,038 Total expenses 12,395 9,428 291 761 (62) 43 6 84 365 663 6,173 Net income 1,534 $ (505) $ 96 $ 289 $ 317 $ 695 $ (6) $ (0) $ (31) $ 24 $ 557 $ Ramco ownership interest 30% 20% 20% 7% 7% 20% 5% 30% 40% 40% Ramco's share of net income 460 $ (101) $ 20 $ 21 $ 22 $ 138 $ (1) $ (0) $ (12) $ 9 $ 557 $ Add: depreciation expense 1,053 498 26 27 11 - - 5 27 47 1,694 Funds from operations contributed 1,513 $ 397 $ 46 $ 48 $ 33 $ 138 $ (1) $ 5 $ 15 $ 56 $ 2,251 $ by joint ventures For Twelve Months Ended December 31, 2008 Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Hartland River City Southfield West Acres Shenandoah Ramco Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Towne Square North Ind Plaza Expansion Commons Square Consolidated Consolidated Consolidated Consolidated Consolidated Indianapolis, IN Hartland, MI Jacksonville, FL Southfield, MI Flint, MI Davie, FL Interest Total revenue 54,330 $ 29,534 $ 1,527 $ 4,767 $ 2,439 $ 775 $ - $ 317 $ 1,560 $ 2,745 $ 25,051 $ Operating expense 17,696 9,901 416 1,353 650 12 6 123 514 1,089 8,218 $ Depreciation and amortization 14,503 8,702 449 1,335 654 81 7 41 277 568 6,695 Interest expense 15,842 10,964 19 - - - 63 725 904 7,632 Total expenses 48,041 29,567 884 2,688 1,304 93 13 227 1,516 2,561 22,545 Net income 6,289 $ (33) $ 643 $ 2,079 $ 1,135 $ 683 $ (13) $ 90 $ 44 $ 184 $ 2,506 $ Ramco ownership interest 30% 20% 20% 7% 7% 20% 5% 50% 40% 40% Ramco's share of net income 1,887 $ (7) $ 129 $ 146 $ 79 $ 137 $ (1) $ 45 $ 18 $ 73 $ 2,506 $ Add: depreciation expense 4,167 1,675 84 93 45 - - 20 109 193 6,386 Funds from operations contributed 6,054 $ 1,668 $ 213 $ 239 $ 124 $ 137 $ (1) $ 65 $ 127 $ 266 $ 8,892 $ by joint ventures Joint Ventures Contribution to Funds from Operations (in thousands) Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 22

Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Ramco RM Ramco Jacksonville S-12 Ramco/ Ramco/ Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Hartland SC LLC North Industrial LLC Associates West Acres LLC Shenandoah LLC Ramco/Lion Ramco 450 Ramco 191 Ramco Ramco Hartland River City Southfield West Acres Shenandoah Ramco Venture LP Venture LLC Venture LLC HHF KL LLC HHF NP LLC Towne Square North Ind Plaza Expansion Commons Square Equity Consolidated Consolidated Consolidated Consolidated Indianapolis, IN Hartland, MI Jacksonville, FL Southfield, MI Flint, MI Davie, FL Investment ASSETS Investment in real estate Land 76,891 $ 51,760 $ 2,879 $ 7,600 $ 4,019 $ 7,387 $ 1,127 $ 50 $ 1,118 $ 1,653 $ Buildings and improvements 455,264 299,022 19,370 44,503 23,509 - - 446 10,124 14,976 Construction in progress 3,984 2,601 356 14 - 8,349 87 - - - Intangible assets, net 15,077 8,559 820 1,236 531 2,287 30 32 44 312 551,216 361,942 23,425 53,353 28,059 18,023 1,244 528 11,286 16,941 Less: accumulated depreciation (35,529) (9,891) (576) (1,732) (809) - - (141) (1,865) (2,721) Investments in real estate, net 515,687 352,051 22,849 51,621 27,250 18,023 1,244 387 9,421 14,220 Cash and cash equivalents 8,625 6,572 60 452 714 90 13 136 320 522 Accounts receivable, net 9,801 3,151 250 376 (82) 1,615 - 30 36 449 Other assets, net 2,333 1,111 81 12 244 32 - 108 100 401 Total Assets 536,446 $ 362,885 $ 23,240 $ 52,461 $ 28,126 $ 19,760 $ 1,257 $ 661 $ 9,877 $ 15,592 $ LIABILITIES AND SHAREHOLDERS' EQUITY Mortgages and notes payable 272,731 $ 222,750 $ 8,419 $ - $ - $ 14,498 $ 723 $ 905 $ 8,697 $ 12,042 $ Accounts payable and accrued expenses 13,941 8,628 160 603 220 1,513 2 241 116 217 286,672 231,378 8,579 603 220 16,011 725 1,146 8,813 12,259 ACCUMULATED EQUITY (DEFICIT) 249,774 131,507 14,661 51,858 27,906 3,749 532 (485) 1,064 3,333 Total Liabilities and Accumulated Equity 536,446 $ 362,885 $ 23,240 $ 52,461 $ 28,126 $ 19,760 $ 1,257 $ 661 $ 9,877 $ 15,592 $ EQUITY INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Equity Investments in Unconsolidated Entities 70,117 $ 14,182 $ 3,382 $ 2,864 $ 1,993 $ (5,258) $ (713) $ 909 $ 384 $ 1,291 $ 89,151 $ Advances to Unconsolidated Entities - - - - - 5,993 723 - - - 6,716 Total Equity Investments in and Advances to Unconsolidated Entities 70,117 $ 14,182 $ 3,382 $ 2,864 $ 1,993 $ 735 $ 10 $ 909 $ 384 $ 1,291 $ 95,867 $ Joint Ventures Combining Balance Sheets (in thousands) as of December 31, 2008 Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 23

Summary of Joint Venture Debt as of December 31, 2008 Ramco Ramco Ownership Mortgage Maturity Loan Interest Share of Entity Property Location Interest Balance Date Type Rate Debt Ramco/Lion Venture RLV Village Plaza LP Village Plaza Lakeland, FL 30% 9,300,000 $ 09/15 Fixed 5.01% 2,790,000 $ RLV West Broward LP West Broward Shopping Center Plantation, FL 30% 9,687,837 10/12 Fixed 6.64% 2,906,351 RLV Martin Square LP Martin Square Stuart, FL 30% 13,130,559 08/11 Fixed 7.44% 3,939,168 RLV Marketplace of Delray LP Marketplace of Delray Delray Beach, FL 30% 16,680,484 01/11 Fixed 7.88% 5,004,145 RLV Treasure Coast LP Treasure Coast Commons Jensen Beach, FL 30% 8,415,000 06/20 Fixed 5.54% 2,524,500 RLV Oriole Plaza LP Village of Oriole Plaza Delray Beach, FL 30% 11,778,177 10/10 Fixed 8.25% 3,533,453 RLV Vista Plaza LP Vista Plaza Jensen Beach, FL 30% 11,115,000 06/20 Fixed 5.54% 3,334,500 RLV Cypress Pointe LP Cypress Pointe Clearwater, FL 30% 14,500,000 11/09 Fixed 4.60% 4,350,000 RLV Boca Mission LP Mission Bay Plaza Boca Raton, FL 30% 44,295,126 07/13 Fixed 6.64% 13,288,538 RLV Winchester Center LP Winchester Center Rochester Hills, MI 30% 28,901,276 07/13 Fixed 8.01% 8,670,383 RLV Hunter's Square LP Hunter's Square Farmington Hills, MI 30% 37,527,385 08/13 Fixed 8.06% 11,258,215 RLV Millennium Park LP Millennium Park Livonia, MI 30% 32,000,000 10/15 Fixed 5.02% 9,600,000 RLV Troy Marketplace LP Troy Marketplace Troy, MI 30% 21,900,000 06/16 Fixed 5.90% 6,570,000 RLV Gratiot Crossing LP Gratiot Crossing Chesterfield Twp., MI 30% 13,500,000 06/16 Fixed 5.90% 4,050,000 Subtotal Ramco/Lion Venture 272,730,845 $ 81,819,253 $ Ramco 450 Venture LLC Crofton 450 LLC Crofton Centre Crofton, MD 20% 17,000,000 $ 01/17 Fixed 5.85% 3,400,000 $ Merchants 450 LLC Merchants' Square Carmel, IN 20% 32,700,000 05/17 Fixed 6.04% 6,540,000 Chester Springs SC LLC Chester Springs Shopping Center Chester, NJ 20% 23,133,519 10/13 Fixed 5.51% 4,626,704 Ramco Peachtree Hill LLC Peachtree Hill Duluth, GA 20% 16,300,000 02/09 Variable 4.19% [1] 3,260,000 Lane Avenue 450 LLC Shops on Lane Upper Arlington, OH 20% 27,600,000 01/18 Variable 5.95% [2] 5,520,000 Olentangy Plaza 450 LLC Olentangy Plaza Columbus, OH 20% 21,600,000 01/18 Variable 5.88% [2] 4,320,000 Market Plaza 450 LLC Market Plaza Glen Ellyn, IL 20% 24,505,000 01/18 Variable 5.88% [2] 4,901,000 Rolling Meadows 450 LLC Rolling Meadows Rolling Meadows, IL 20% 11,911,250 12/15 Fixed 5.34% 2,382,250 Plaza at Delray 450 LLC The Plaza at Delray Delray Beach, FL 20% 48,000,000 09/13 Fixed 6.00% 9,600,000 Subtotal Ramco 450 Venture LLC 222,749,769 $ 44,549,954 $ S-12 Associates Southfield Plaza Expansion Southfield, MI 50% 905,069 $ 05/16 Fixed 6.75% [3] 452,534 $ Ramco/West Acres LLC West Acres Commons Flint, MI 40% 8,696,655 04/10 Fixed 8.14% 3,478,662 Ramco/Shenandoah LLC Shenandoah Square Davie, FL 40% 12,042,606 02/12 Fixed 7.33% 4,817,043 Paulding Holding LLC Paulding Pavilion Hiram, GA 20% 8,419,382 06/10 Variable 1.92% [4] 1,683,876 Ramco RM Hartland SC LLC Hartland Towne Square Hartland, MI 20% 8,505,000 07/09 Variable 4.59% [5] 1,701,000 Ramco RM Hartland SC LLC Hartland Towne Square Hartland, MI 20% 5,993,043 10/09 Fixed 13.00% 1,198,609 Jacksonville North Industrial Outlot LLC Jacksonville, FL 5% 723,000 09/09 Variable 2.71% [6] 36,150 Total Debt 540,765,369 $ 139,737,081 $ [1] Interest rate is variable based on LIBOR plus 1.70%. [2] Interest rate is fixed for five years and then lender has right to reset interest rate in 2013. [3] Interest rate is fixed until 6/1/2009, then resets per formula annually. [4] Interest rate is variable based on LIBOR plus 1.45%. [5] Interest rate is based on LIBOR plus 2.95%. [6] Interest rate is based on LIBOR plus 2.25%. Supplemental Financial and Operating Statistics Ramco-Gershenson Properties Trust (RPT) Q4 2008 Page 24

Supplemental Financial and Operating Statistics Q4 2008 Ramco-Gershenson Properties Trust (RPT) Page 25 INVESTOR INFORMATION Inquiries Ramco-Gershenson Properties Trust welcomes any questions or comments from shareholders, analysts, investment managers, media or prospective investors. Please address all inquiries to our Investor Relations Department: Dawn L. Hendershot Director of Investor Relations and Corporate Communications Ramco-Gershenson Properties Trust 31500 Northwestern Highway, Suite 300 Farmington Hills, MI 48334 Phone: (248) 592-6202 FAX: (248) 592-6203 E-mail: dhendershot@rgpt.com Website: www.rgpt.com Ticker: NYSE:RPT Research Coverage Cantor Fitzgerald Philip Martin 312.469.7485 Deutsche Bank Securities Inc. Louis W. Taylor 203.863.2381 RBC Capital Markets Richard C. Moore, CFA 440.715.2646 Stifel Nicolaus David M. Fick, CPA Nathan Isbee 443.224.1308 443.224.1346 Our Supplemental Financial Package is available via e-mail and is also featured on our corporate website at www.rgpt.com. If you would like to receive this document electronically each quarter, please e-mail: dhendershot@rgpt.com.