|   | 1. | I have reviewed this Quarterly      Report on Form 10-Q of  Winthrop Realty      Trust; |
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|   | 2. | Based on my knowledge, this report      does not contain any untrue statement of a material fact or omit to state      a material fact necessary to make the statements made, in light of the      circumstances under which such statements were made, not misleading with      respect to the period covered by this      report; |
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|   | 3. | Based on my knowledge, the      financial statements, and other financial information included in this      report, fairly present in all material respects the financial condition,      results of operations and cash flows of the Registrant as of, and for, the      periods presented in thisreport; |
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|   | 4. | The Registrant’s other certifying officer and I      are responsible for establishing and maintaining disclosure controls and      procedures (as defined in Exchange Act Rules 13a-15(e) and      15d-15(e)) for the      Registrant and have: |
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|   | (a) | Designed such disclosure controls      and procedures, or caused such disclosure controls and procedures to be      designed under our supervision, to ensure that material information      relating to the registrant, including its consolidated subsidiaries, is made      known to us by others within those entities, particularly during the      period in which this report is being  prepared; |
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|   | (b) | Designed such internal control      over financial reporting, or caused such internal control over      financial reporting      to be designed under our supervision, to provide reasonable assurance      regarding the reliability of financial reporting and the preparation of      financial statements for external purposes in accordance with generally      accepted accounting principles; |
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|   | (c) | Evaluated the effectiveness of the      Registrant’s disclosure controls and      procedures and presented in this report our conclusions about the      effectiveness of the disclosure controls and procedures, as of the end of      the period covered by this report based on such evaluation;      and |
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|   | (d) | Disclosed in this report any      changes in the Registrant’s internal control over financial      reporting that occurred during the Registrant’s most recent fiscal quarter, that      has materially affected, or is reasonably likely to materially affect, the      Registrant’s internal control over financial      reporting; and |
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|   | 5. | The Registrant’s other certifying officer and I      have disclosed, based on our most recent evaluation of internal control      over financial reporting, to the Registrant’s auditors and the audit committee of the      Registrant’s board of directors (or persons      performing the equivalentfunctions): |
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|   | (a) | All significant deficiencies and      material weaknesses in the design or operation of internal control over      financial reporting which are reasonably likely to adversely      affect the Registrant’s ability to record, process,      summarize and report financial information;  and |
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|   | (b) | Any fraud, whether or not      material, that involves management or other employees who have a      significant role in the Registrant’s internal control over financial      reporting. |
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| Date:  May 11,      2009 | /s/Michael L.      Ashner    |
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|                               | Michael L.      Ashner       |
|                               | Chief Executive      Officer |

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