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Press Release

Tanger Factory Outlet Centers, Inc. 2007 Tax Reporting Information - Distribution (Form 1099)

Company Release - 1/18/2008 4:26 PM ET

GREENSBORO, N.C., Jan. 18 /PRNewswire-FirstCall/ -- Tanger Factory Outlet Centers, Inc. (NYSE: SKT) announced today that based upon the review by the Company's independent accountants, PricewaterhouseCoopers LLP, its 2007 dividend distributions should be treated as follows for income tax purposes.

    Common Shares:  92.95% as ordinary income and 7.05% as return of capital.

    Preferred Shares: 100% as ordinary income

A form with detailed information regarding each distribution during 2007 is attached. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's dividend distributions.

    REIT Name:   Tanger Factory Outlet Centers, Inc.


    Primary Layout Report Date:     1/18/2008



         Security
                                                           Ex-
        Description                  Ticker   Record    Dividend    Payable
       (Fund Name)        CUSIP      Symbol    Date       Date       Date
          Common       875465-10-6    SKT    01/31/07   01/29/07   02/15/07
          Common       875465-10-6    SKT    04/30/07   04/26/07   05/15/07
          Common       875465-10-6    SKT    07/31/07   07/27/07   08/15/07
          Common       875465-10-6    SKT    10/31/07   10/29/07   11/15/07
          Total


        Preferred      875465-40-3   SKT-PC  01/31/07   01/29/07   02/15/07
        Preferred      875465-40-3   SKT-PC  04/30/07   04/26/07   05/15/07
        Preferred      875465-40-3   SKT-PC  07/31/07   07/27/07   08/15/07
        Preferred      875465-40-3   SKT-PC  10/31/07   10/29/07   11/15/07
          Total


                                                     Box 1a Total    Box 3
          Security                       Total
        Description                    Distribution     Ordinary  Nondividend
        (Fund Name)         CUSIP        Per Share     Dividends Distributions

           Common        875465-10-6     0.340000       0.31603     0.023970
           Common        875465-10-6     0.360000       0.33462     0.025380
           Common        875465-10-6     0.360000       0.33462     0.025380
           Common        875465-10-6     0.360000       0.33462     0.025380
           Total                         1.420000      1.319890     0.100110
                                                          92.95%        7.05%

         Preferred       875465-40-3     0.468750      0.468750
         Preferred       875465-40-3     0.468750      0.468750
         Preferred       875465-40-3     0.468750      0.468750
         Preferred       875465-40-3     0.468750      0.468750
           Total                         1.875000      1.875000
                                                         100.00%

SOURCE Tanger Factory Outlet Centers, Inc.

Contact: Frank C. Marchisello of Tanger Factory Outlet Centers, Inc., +1-336-834-6834