Item 8.01 Other Matters

On May 6, 2009, Tanger Factory Outlet Centers, Inc. (the "Company") announced that, in connection with the previously announced offer to exchange common shares of the Company for any and all of the outstanding 3.75% Exchangeable Senior Notes due 2026 (the "Notes") of Tanger Properties Limited Partnership (the "OP"), the OP has determined that a total of 34.2079 Company common shares will be issued for each $1,000 principal amount of Notes validly tendered and not validly withdrawn in the exchange offer.

The total number of Company common shares issued for each $1,000 principal amount of Notes was determined by adding 27.7434 Company common shares, which was a fixed amount, and an additional amount of shares determined by dividing $215 by the average of the volume weighted average price of the Company common shares over an eight trading day averaging period beginning April 24, 2009 and ending May 5, 2009, or $33.2584. Holders will also receive a cash payment for accrued and unpaid interest on the Notes up to but not including the settlement date, which is expected to be approximately $8.65 per $1,000 principal amount of Notes.

The offer is scheduled to expire at 5:00 p.m., New York City time, on Thursday, May 7, 2009.

A copy of this press release is attached to this current report as Exhibit 99.1.

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Item 9.01 Financial Statements and Exhibits

(c) Exhibits

The following exhibits are included with this Report:

Exhibit 99.1 Press release announcing number of shares to be issued as consideration in exchange offer for Exchangeable Notes.