URSTADT BIDDLE PROPERTIES INC.
                               321 RAILROAD AVENUE
                          GREENWICH, CONNECTICUT 06830

                             -----------------------

To Our Stockholders:

     In connection  with the Annual Meeting of  Stockholders  (the "Meeting") of
Urstadt Biddle  Properties Inc., a Maryland  corporation (the "Company"),  to be
held at the Greenwich Harbor Inn, Greenwich,  Connecticut,  on March 10, 1999 at
11:00 a.m. for the purposes set forth in the Notice of Meeting dated February 2,
1999 (the "Notice of Meeting") and the related Proxy Statement dated February 2,
1999 (the "Proxy  Statement"),  the Company  previously  provided to you a WHITE
proxy card together  with the Notice of Meeting and the Proxy  Statement for use
in voting your Shares.  Please note that the Company has become aware that,  due
to a clerical  error by the Transfer  Agent,  the  information  contained on the
WHITE proxy card  relating to the number of Class A Common Shares held of record
by you as of the close of business on January 27, 1999,  the record date for the
Meeting (the "Record Date"),  is inaccurate and stockholders  should not use the
WHITE proxy card.

     Enclosed  herewith is a YELLOW proxy card  containing the correct number of
Common  Shares and Class A Common  Shares  held of record by you at the close of
business on the Record Date.  Stockholders  who wish to have their Common Shares
and Class A Common Shares  represented  and voted at the Meeting must  complete,
date, sign and return the enclosed YELLOW proxy card even if you have previously
completed  and returned the WHITE proxy card. No WHITE proxy cards will be given
effect and only properly completed,  dated and signed YELLOW proxy cards will be
given effect at the Meeting.

     Reference  is hereby made to the Notice of Meeting and the Proxy  Statement
previously provided to you for information  concerning the proposals to be acted
upon at the  Meeting.  To be  voted,  YELLOW  proxies  must be  filed  with  the
Secretary of the Company prior to voting.  YELLOW  proxies may be revoked at any
time before  exercise by filing a notice of such  revocation,  by filing a later
dated YELLOW  proxy with the  Secretary of the Company or by voting in person at
the Meeting.

     You are urged to  complete,  date,  sign and return your YELLOW  Proxy Card
promptly to make certain  your Shares will be voted at the Meeting,  even if you
plan to attend  the  Meeting in  person.  If you  desire to vote your  Shares in
person at the Meeting, your YELLOW proxy may be revoked. For your convenience in
returning the YELLOW Proxy Card, a  pre-addressed  and postage paid envelope has
been enclosed.

           YOUR PROXY IS IMPORTANT WHETHER YOU OWN FEW OR MANY SHARES.
            PLEASE DATE, SIGN AND MAIL THE ENCLOSED YELLOW PROXY CARD
                                     TODAY.

                                                  Urstadt Biddle Properties Inc.
                                                  February 9, 1999