BETHESDA, Md., Sept. 18 /PRNewswire-FirstCall/ -- Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.47 per share on its common stock, to be paid October 31, 2008 to holders of record on October 17, 2008. The amount of the common dividend payable is unchanged from the previous quarter and the prior year's comparable quarter. The Company also declared the quarterly dividends for its 8% Series A Cumulative Redeemable Preferred Stock in the amount of $0.50 per depositary share and 9% Series B Cumulative Redeemable Preferred Stock in the amount of $0.5625 per depositary share. Both preferred dividends will be paid October 15, 2008 to holders of record on October 1, 2008.

Saul Centers is a self-managed, self-administered equity real estate investment trust headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio of 50 operating community and neighborhood shopping center and office properties totaling approximately 8.2 million square feet of leasable area. Over 80% of the Company's cash flow is generated from properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers is available on the Company's website at www.saulcenters.com.

SOURCE Saul Centers, Inc.