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Wheeler REIT to eliminate COO role in July

Wheeler Real EstateInvestment Trust Inc. has realigned its executive management team andeliminated the COO position as part of the company's ongoing cost-containment efforts.

The removal of the COO role, currently assumed by , will go into effectJuly 31. The COO obligations will be assumed by Wheeler through increased efficienciesand a realignment of executive responsibilities within the company.

Wheeler REIT said that with the realignment, annualized recurringcash general and administrative expenses, excluding capital and acquisition costs,are now projected to be less than $4.5 million during the second half.