OAK BROOK, Ill., April 18, 2003 (PRIMEZONE) -- Inland Retail Real Estate Trust, Inc. ("Inland Retail"), a real estate investment trust, is announcing the anticipated closing of its $1.68 billion common stock offering, originally declared effective by the Securities and Exchange Commission on June 7, 2002. Inland Retail owns more than 155 retail properties with an aggregate purchase price in excess of $2.1 billion. As of today there is approximately $500,000,000 unsubscribed for in the current $1.68 billion offering. Based on the current rate of capital being raised, Inland Retail believes that this offering would be fully subscribed by early June.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state. Copies of the prospectus may be obtained from Inland Securities Corporation, 2901 Butterfield Road, Oak Brook, Illinois 60523, 630.218.8000.
With the exception of historical information, the matters discussed here constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Management cautions that these forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the company's actual performance to be materially different from the future performance expressed or implied by these forward-looking statements. Examples of factors which could affect the company's performance are set forth in the company's annual report on Form 10-K for the year ended December 31, 2002, as filed with the Securities and Exchange Commission on March 30, 2003 under the heading "Investment Considerations."