Coradino is president of PREIT Services LLC and PREIT-Rubin Inc. He has been elected, effective immediately, to replace Jonathan B. Weller, who retired this March, and will serve until the annual shareholders meeting on June 1. At that time, his name will appear on the ballot for election as a class A trustee to serve until the spring 2008 shareholders meeting and until his successor is elected and qualified.

Coradino has been with locally based PREIT and its predecessor company for 25 years. Calling him a "driving force" in the organization, in a statement, Ronald Rubin, chairman and CEO, says he "brings to the board his vast experience and knowledge of the retail market."

The change in the Liberty election standard requires each candidate for trustee to receive a majority of the votes cast. Previously, trustees were elected under a plurality vote standard, meaning those who received the most votes would win without regard to whether the votes constituted a majority of the shares voting at the meeting. The new standard goes into effect with the election of trustees in May 2006.

When there are more candidates than trustees to be elected, the plurality standard will continue to apply. If, as a candidate, an existing trustee is not re-elected by a majority of the votes, that candidate must offer to resign. The corporate governance and nominating committee will then recommend to the board whether to accept or reject the resignation or take a different action. In such cases, the board will disclose its decision and the reasons for it within 90 days of certification of election results.