Item 7.01 Regulation FD Disclosure

On the investor conference call held on April 24, 2009 discussing the first quarter 2009 results of operations for Tanger Factory Outlet Centers, Inc. and its subsidiaries (the "Company"), the Company stated that it estimated that Tanger Properties Limited Partnership's pending offer to exchange common shares of Tanger Factory Outlet Centers, Inc. for the outstanding 3.75% exchangeable senior notes due 2026 of Tanger Properties Limited Partnership, assuming all notes are tendered and accepted, would reduce the Company's 2009 funds from operations available to common shareholders by approximately $.07 per share on an annual basis. The actual estimated number is approximately $.11 per share on an annual basis. The information contained in this report on Form 8-K shall not be deemed "filed" with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specified otherwise.