ONE LIBERTY PROPERTIES, INC. ACQUIRES SPORTING GOODS STORE

Great Neck, New York - April 10, 1996 - One Liberty Properties, Inc. (ASE:OLP;OLP Pr) announced today that it has acquired through a wholly owned subsidiary, a 45,000 square foot retail sporting goods superstore located in Greenwood Village, Colorado for a consideration of approximately $4.04 million.

The single story building is net leased on a long term basis to Gart Bros. Sporting Goods Company, a privately held Denver-based organization specializing in the retail sales of sporting goods and equipment.

The location of the property was selected due to its high traffic location abutting Interstate 25, the area’s primary north/south corridor to downtown Denver. The net lease expires in 2015 and provides the tenant with extension options through 2030.