November 2010

Investor

Presentation

Deliver superior total shareholder returns

Generate consistent, predictable earnings growth

Maintain a strong balance sheet and financial flexibility

Position the Company to grow annual dividend

1

Ramco’s Strategic Goals

“Our business plan is simple, to produce sustainable FFO growth and deliver long-term value for our shareholders.”

Capitalize on high-quality shopping center portfolio

Allocate capital conservatively for external growth

Dominant locations in major metropolitan markets

Existing diverse, stable and credit-quality tenant base

Significant embedded leasing and redevelopment opportunities in the core portfolio

Continue to strengthen the balance sheet

Acquire shopping centers to diversify markets and upgrade portfolio

Maximize development returns and minimize risk through land sales and partner participation

Improve debt metrics

Extend debt maturities, enhance liquidity and promote financial flexibility

2

Strategies to Grow Shareholder Value

Strengthen the Balance

Sheet and Improve Liquidity

3

Executed 11 mid-box leases with national and regional tenants

Delivered 6 of 8 value-added existing redevelopment projects involving the addition or expansion of at least one anchor tenant promoting stability and value

Nearing completion on 2 remaining redevelopment projects anticipated for the fourth quarter of 2010

Improving Same-center NOI and Occupancy through first nine months of 2010

Raised approximately $75.7 million in equity, which was used to pay down debt

Closed on a new, 10-year $31.3 million CMBS loan for properties in Michigan and Ohio

Closed on a new 5-year $14.7 million CMBS loan for Aquia Office Building

Reduced term loan by half and paid-off two mortgages early

Extended average term of consolidated debt to 5.2 years

Execution of a Focused Strategy

Improve Core Operations and

Demonstrate Conservative

Growth

Communicated Goals Achievements in 2010

INTERNAL:

EXTERNAL:

Acquired Liberty Square shopping center in Chicago MSA

Acquired $32.7 million note securing Merchants’ Square in Carmel, IN for $16.8 million

Strong Markets and High-Quality Centers

51MSA per US Census Bureau. 2Per CoStar Group.

Total Number of

Properties88

Total GLA 20.0M

Company owned GLA 15.4M

3 Mile Population2 67,483

5 Mile Population2 170,650

3 Mile Avg. HH Income2 $82,324

5 Mile Avg. HH Income2 $82,397

Approximately 90% of the total portfolio is located in 15 of the top 100 MSAs1 in the Country

Focus on strong trade area demographics that far exceed state wide averages

Located in Leading Metropolitan Markets

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Largest owner and manager of shopping centers in the Metro Detroit area

Current leased occupancy of 94.3%, versus national average leased occupancy of 92.6%

Large, high-quality centers with average total center GLA of 272,000 square feet

High-income, densely populated sub-markets

Total # of Properties 22

Gross Leasable Area1 5.9M

Population2 81,897

Avg. HH Income2 $87,940

1Includes both anchor owned and landlord owned space.2Source: CoStar Group: Numbers represent averages for 3-mile trade area.

Dominant portfolio in SE Michigan

SE Michigan

SE Florida

Large concentration of properties create economies of scale

Infill market locations with superior demographics

Seven Publix anchored centers generating sales of $553 psf

Total # of Properties 14

Gross Leasable Area1 2.5M

Population2 83,454

Avg. HH Income2 $74,748

Significant Ownership in SE Florida

Competitive Advantage in Michigan and Florida

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Diverse line-up of high-quality national and regional tenants that account for 81% of total base rent

Average center has 2.3 anchors, promoting stability

Over 52% of our centers are grocery anchored

Average grocer sales of $464 PSF, 25% higher than industry average

2.2%

2.7%

3.9%

4.3%

4.6%

11.4%

WRI

FRT

RPT

DDR

REG

EQY

TenantCredit Rating S&P/Moody’s

No. of Stores

% of Annualized Base Rent

T.J. Maxx/Marshalls A/A3 20 3.9%

Publix NR/NR 12 3.0%

Home Depot BBB+/Baa1 3 1.9%

Kmart/Sears BB-/Ba2 6 1.8%

OfficeMax B/B1 11 1.8%

Dollar Tree NR/NR 28 1.7%

Jo-Ann Fabrics BB-/NR 6 1.6%

Burlington Coat NR/NR 5 1.6%

Staples BBB/Baa2 10 1.5%

Best Buy BBB-/Baa2 5 1.5%

Top tenant concentration vs. peers1

Top tenants2

Strong Line-up of Anchor Tenants

1Source: Company filings as of September 30, 2010.2Source: RPT Financial and Operating Supplement for the quarter ended September 30, 2010.

Top Names in Convenience Draws

Emphasis on leasing to national and regional chains to provide stability, improved credit-quality and secondary tenant draw to our centers.1

1List not comprehensive for any category.

BANKS Bank of America (5)Washington Mutual (5)

Wells Fargo (5)

DRUGS/NUTRITION Walgreens (5) CVS (8) GNC (20)

HAIRCUTS Supercuts (7) Great Clips (7) Fantastic Sam’s (6)

TELECOM AT&T (7) T-Mobile (5) Sprint (5)

CASUAL FARE Panera (8) Starbucks (5) Subway (20)

MAIL/SHIP UPS (13)U.S. Postal Service (8)

FAST FOOD McDonald’s (2) Burger King (2) Wendy’s (4)

BEAUTY Sally Beauty (15) Bath & Body (6) Ulta Salon (1)

ELECTRONICS GameStop (23) Radio Shack (15) Micro Center (1)

SHOES Payless (10) DSW (3) Footlocker (4)

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1Q2010 2Q2010 3Q2010

Physical Occupancy Leased Occupancy

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Improving Operating Metrics

Total Portfolio Occupancy YTD Same-center Cash NOI Cash Leasing Spreads

89.7%

1Q2010 2Q2010 3Q2010

89.5%

90.8%

90.5%

-1.8%-1.5%

1Q2010 2Q2010 3Q2010

-12.9 %

-1.6%

89.8%

91.1%

-1.5%

-0.2%

Source: RPT Financial and Operating Supplements for the quarters ended March 31, June 30 and September 30, 2010.

10

Positive Leasing Momentum

Since January of 2010, the Company has signed 11 mid-box leases totaling 300,000 square feet with national and regional chains including TJ Maxx, Best Buy, Ross Dress for Less, Old Navy, Staples, Golfsmith and Total Wine

For the remainder of 2010, the Company anticipates signing at least 4additional mid-box leases totaling 100,000 square feet to replace vacant spaces or underperforming tenants

Anticipate achieving a full-year effect of new mid-box lease signings in 2012

2007

Actual

2008

Actual

2009

Actual

2010

Estimate

Executed Leases 67 98 116 129

Renewal Retention 69.4% 71.1% 74.0% 75.0%

2010 Leasing Velocity

Mid-Box Leasing Activity“Leasing velocity is continuing to show positive momentum, which is reflected in the record number of new leases projected to be signed in 2010 .”

The Company is on pace to achieve its highest level of new lease signings and renewals during 2010

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The Company’s value-add redevelopment program is designed to improve the NAV and NOI of existing shopping centers through:

1. Leasing vacant anchor space or replacing underperforming anchor tenants

2. Accommodating new anchor retailers desirous of entering the market and being at the ideal location

3. Expanding existing successful anchor tenants

BEFORE AFTER

Upgrading the Portfolio through Redevelopment

Former Farmer Jack anchored center acquired in 2008

Replaced Farmer Jack with upscale specialty grocer Plum Market

Added national and regional in-line tenants including Running Fit and Five Guys Burgers & Fries as well as popular local retailers such as Churchill’s Cigars and 7 Bar and Grill

Completed façade renovation, parking lot improvements and pylon signage upgrades

Cost $10.4M, ROI 11.9%, stabilizing end of 20101

The Shops at Old Orchard, West Bloomfield, Michigan

1Source: RPT Financial and Operating Supplement for the quarter ended September 30, 2010.

Opportunities for External Growth

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Metro markets in identified growth areas with value-added potential

Focus on market dominant community shopping centers with a grocery and/or discount anchor component

Geographic diversification

Disposition of non-strategic assets to upgrade portfolio and markets

External Growth Opportunities

Acquisition

Philosophy

Development

Philosophy

Pursue a conservative approach to existing pipeline of potential future projects including land sales and partner participation

Developments will only be considered upon achieving certain, specific criteria:

Critical mass of signed anchor leases

Demonstrated demand for small shop retail

Firm construction costs

Construction financing in place

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Growing the Portfolio-Acquisition of Liberty Square

107,000 grocery-anchored community center in Chicago MSA market

Jewel-Osco currently generating sales of over $650 PSF

3 mile trade area average household income of $112,000

89% occupancy at time of purchase with existing lease-up opportunities

8.0% capitalization rate on 2011 budgeted NOI

Liberty Square, Wauconda (Chicago), Illinois

“The acquisition of Liberty Square underscores our strategy of acquiring shopping centers with value-added potential in high growth markets emphasizing geographic diversification.”

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Strategic Investment-Merchants’ Square

Purchased $32.7 million note for $16.8 million

Partner’s ownership interest transferred in October 2010

360,000 square foot power center with strong national and regional tenants

3 mile trade area average population of 61,740 and household income of $114,636

Opportunity to add value through lease-up of vacant Hobby Lobby, lease obligated through December 31, 2013

Approximately 10.0% unleveraged ROI

Merchants’ Square in Carmel, Indiana

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Conservative Development Program

The Town Center at Aquia, Stafford County, VA:

Anchor commitments for Regal Theater, Gold’s Gym, The Learning Experience

Sale of office and residential components

Joint venture for retail phases

Gateway Commons, Lakeland, FL: 340,000 SF power center adjacent to our Target

anchored, Shoppes of Lakeland shopping center Very strong anchor retail interest from Kohl’s,

Ross Dress For Less, Toys R Us, LA Fitness, Dick’s Sporting Goods, Wine Time, Old Navy and PetSmart

Potential anchor and out parcel sales

Hartland Towne Square, Hartland Twp., MI: Sale of land parcels to Meijer (opened), Menard’s

(Jan. 2011), Belle Tire (opened) and Tim Horton’s Continue to market remaining land for retail,

entertainment & other uses including medical, school and office

Parkway Shops, Jacksonville, FL: 330,000 SF power center directly across from

River City Marketplace Very strong anchor retail interest from Kohl’s,

Target, HH Gregg, Dick’s Sporting Goods, TJ Maxx as well as numerous other destination users

Potential anchor and out parcel sales

Critical mass of anchor tenants in place

Demonstrated demand for small shop retail

Firm construction costs

Construction financing secured

Development projects:

Criteria to commence vertical construction:

Strengthened Balance Sheet

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Current Financial Position

0

20

40

60

80

100

120

4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

Mill

ions

Land Loan Mortgage Bank Loan

Debt Maturities 2010-2012Capitalization

Weighted average term to maturity 5.2 years.

Debt information as of September 30, 2010.

Mortgage Loans (due

various dates)36%

Line of Credit (due Dec-12)

9%Bank Term Loan (due June-11)

3%

Junior Subordinated

Note (due June-38)

3%

Land Loans (due various

dates)1%

Equity (Market

Capitalization as of

11/5/2010)48%

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Delivering on Balance Sheet Strategy

Funded two acquisitions expected to generate first year returns of 9.3%

Paid off RPT’s share of two mortgages on joint venture properties

Completion of Merchants’ Square consolidation will reduce JV debt by another $32.7 million

Growing pool of consolidated unencumbered assets valued at approximately $100 million

Debt Measures September 30, 2010 September 30, 2009

Total Consolidated Debt $538.2M $543.5M

Debt to Market Capitalization 55.2% 64.3%

Average Term 5.2 yrs 4.8 yrs

Term Loan Balance $30M $100M

Total Joint Venture Debt $470.7 $537.3

3Q2010 Activity

20

Selling Assets to Meet Strategic Objectives

“We continuously review and evaluate the portfolio to identify potential sales with an eye towards (1) upgrading the portfolio, (2) generating capital to pay down debt, and (3) redeploying capital into new markets and assets.”

Potential asset sales:

Core properties that are fully-valued

Non-core

Market has moved

Possible future risk

Out parcels

Three assets currently being marketed for sale, which are expected to generate between $40-$45 million in proceeds to Ramco:

Fully-valued/potential future risk

Diversify out of the market

Use proceeds to pay down debt

Focused business plan with demonstrated results

High-quality, multi-anchor shopping centers in strong

metropolitan markets

Improving operating metrics

Strengthened balance sheet

Experienced and knowledgeable management team

Competitive, secure dividend yield of 5.3%, versus 4.0% for

shopping center peers1

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Attractive Investment

1Source: SNL.

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Ramco-Gershenson Properties Trust considers portions of this information to be

forward-looking statements within the meaning of Section 27A of the Securities Act

of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended,

with respect to the Company’s expectation for future periods. Although the

Company believes that the expectations reflected in such forward-looking

statements are based upon reasonable assumptions, it can give no assurance that

its expectations will be achieved. For this purpose, any statements contained herein

that are not historical fact may be deemed to be forward-looking

statements. Certain factors could occur that might cause actual results to vary.

These include our success or failure in implementing our business strategy,

economic conditions generally and in the commercial real estate and finance

markets specifically, our cost of capital, which depends in part on our asset quality,

our relationships with lenders and other capital providers, our business prospects

and outlook, changes in governmental regulations, tax rates and similar matters,

and our continuing to qualify as a REIT, and other factors discussed in the

Company’s reports filed with the Securities and Exchange Commission.

Safe Harbor Statement

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Quality Shopping Center Portfolio