Tanger Factory Outlet Centers, Inc. 2010 Tax Reporting Information -- Distribution (Form 1099)

/ Source: GlobeNewswire

GREENSBORO, N.C., Jan. 20, 2011 (GLOBE NEWSWIRE) -- Tanger Factory Outlet Centers, Inc. (NYSE:SKT) announced today that based upon the review by the Company's independent accountants, PricewaterhouseCoopers LLP, its 2010 dividend distributions should be treated as follows for income tax purposes.

Common Shares: 69.40% as ordinary income and 30.60% as return of capital.

Preferred Shares: 100.00% as ordinary income.

Detailed information regarding each distribution during 2010 is below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's dividend distributions.

Tanger Factory Outlet Centers, Inc. - Common Stock (Symbol SKT) (CUSIP No. 875465106)

Tanger Factory Outlet Centers, Inc. - Preferred Stock (Symbol SKT.PC) (CUSIP No. 875465403)

About Tanger Factory Outlet Centers, Inc.

Tanger Factory Outlet Centers, Inc., (NYSE:SKT) is a publicly traded REIT headquartered in Greensboro, North Carolina that operates and owns or has ownership interests in, a portfolio of 33 outlet centers in 22 states coast-to-coast, totaling approximately 10.2 million square feet, leased to over 2,100 stores that are operated by more than 375 different brand name companies. More than 160 million shoppers visit Tanger Outlet Centers annually. For more information on Tanger Outlet Centers, call 1-800-4-TANGER or visit the company's web site at .

CONTACT: Frank C. Marchisello Executive Vice President and CFO (336) 834-6834