Exhibit 99.1

Sizeler Announces Retention of Wachovia Capital Markets, LLC to Assist in
Seeking Strategic Alternatives

NEW ORLEANS, Jan. 10/PRNewswire/ -- Sizeler Property Investors, Inc. (the
"Company") (NYSE:SIZ) announced that it has retained Wachovia Capital Markets,
LLC as its exclusive financial advisor to assist the Company in analyzing
potential strategic alternatives including a sale of the Company or its assets
in one or more transactions, a merger or other business combination with another
entity, a recapitalization, reorganization or restructuring of the Company.

Mark M. Tanz, the non-executive Chairman of the Board of the Company, stated
that "we look forward to working with Wachovia in our efforts to maximize
shareholder value through the pursuit of various strategic alternatives." Mr.
Tanz further stated "no timetable has been set for consummating one or more of
these strategic alternatives."

Sizeler Property Investors, Inc. is an equity real estate investment trust
(REIT) that invests in retail and apartment properties in the southeastern
United States. The Company currently owns thirty-one properties -- seventeen in
Louisiana, ten in Florida and four in Alabama. The Company's properties consist
of three regional enclosed malls, thirteen retail shopping centers and fifteen
apartment communities.

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FORWARD LOOKING STATEMENT

This release made by the Company may contain certain forward-looking statements
that are subject to risk and uncertainty. In this regard, there can be no
assurance that the Company will be successful in entering into strategic
transactions or, the nature of such a strategic transaction. Investors and
potential investors in the Company's securities are cautioned that a number of
factors could adversely affect the Company and cause actual results to differ
materially from those in the forward-looking statements, including, but not
limited to (a) the inability to lease current or future vacant space in the
Company's properties; (b) decisions by tenants and anchor tenants who own their
space to close stores at properties; (c) the inability of tenants to pay rent
and other expenses; (d) tenant financial difficulties; (e) general economic and
world conditions, including threats to the United States homeland from
unfriendly factions; (f) decreases in rental rates available from tenants; (g)
increases in operating costs at properties; (h) increases in corporate operating
costs associated with new regulatory requirements; (i) lack of availability of
financing for acquisition, development and rehabilitation of properties; (j)
force majeure as it relates to construction and renovation projects; (k)
possible dispositions of mature properties since the Company is continuously
engaged in the examination of the various lines of business; (l) increases in
interest rates; (m) a general economic downturn resulting in lower retail sales
and causing downward pressure on occupancies and rents at retail properties; (n)
forces of nature; (o) the adverse tax consequences if the Company were to fail
to qualify as a REIT in any taxable year; and (p) inability of the Company to
implement its strategic initiatives for foregoing or other reasons. Except as
required under federal securities laws and the rules and regulations of the SEC,
the Company does not have any intention or obligation to update or revise any
forward-looking statements in this release, whether as a result of new
information, future events, changes in assumptions or otherwise.