January 31, 2002


Dear Stockholder:



Enclosed is a copy of the 2001 Annual Report for Urstadt Biddle  Properties Inc.
Please  take some  time to  review  the  report  at your  convenience.  To avoid
duplicate  distribution of this report to  stockholders  who own both the Common
Stock and the Class A Common  Stock of the Company,  the Annual  Report has been
mailed  apart from other  materials.  You will be  receiving a separate  mailing
containing  a Proxy  Statement  and voting card for each class of stock you own.
Holders  of both  Common  Stock  and  Class A  Common  Stock  will  receive  two
envelopes. Your proxy is important. Please take time to date, sign and mail your
proxy card(s) promptly after they are received.

Sincerely,


/s/ Thomas D. Myers
Thomas D. Myers
 Secretary