National Retail Properties, Inc. News

National Retail Properties, Inc. Upgraded by Moody's

ORLANDO, Fla., June 18 PRNewswire-FirstCall — National Retail Properties, Inc. (NYSE: NNN) announced today that Moody's Investors Service upgraded the Company's senior unsecured debt rating to Baa2 from Baa3 and its preferred stock rating to Baa3 from Ba1, with a stable outlook. Mr. Craig Macnab, Chief Executive Officer, noted: "We are pleased with Moody's rating action which we believe reflects our strong real estate portfolio, stable cash flow, conservative balance sheet and consistent performance. This upgrade is particularly gratifying considering the challenging macroeconomic environment. We anticipate 2008 will produce record FFO per share results and are on track for our nineteenth consecutive year of increased dividends."

NNN acquires, owns, invests in, manages and develops properties that are leased primarily to retail tenants under long-term net leases. As of March 31, 2008, NNN owned 931 Investment Properties, with an aggregate leasable area of 11 million square feet, located in 44 states. For more information on the Company, visit www.nnnreit.com.

Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the Company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, changes in interest rates, increases in operating costs, the availability of capital, and the profitability of the Company's taxable subsidiary. Additional information concerning these and other factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company's SEC filings, including, but not limited to, Item 1A. Risk Factors of the Company's Annual Report on Form 10-K, as amended. Copies of each filing may be obtained from the Company or the SEC. Consequently, such forward-looking statements should be regarded solely as reflections of the Company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

SOURCE National Retail Properties, Inc.

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