Press Release Details

Sep 05, 2006

Realty Income to Acquire Approximately $350 Million of Buffets/Ryan's Restaurants in Sale-Leaseback Transaction

ESCONDIDO, CALIFORNIA, Sept. 5, 2006. Realty Income Corporation (Realty Income), The Monthly Dividend Company(R), (NYSE:O) announced today that it has signed a definitive commitment letter to acquire approximately $350 million of Buffets/Ryan's restaurant properties under long-term, net-lease agreements. The exact locations and number of properties to be acquired is the subject of continuing discussion between the parties involved in the transaction. The Company is acquiring these properties subsequent to the closing under a previously announced merger agreement between Buffets, Inc. and Ryan's Restaurant Group. While Realty Income's acquisition of these properties is subject to a number of conditions, it is anticipated that the transaction will close in the fourth quarter.

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