THIS WEBSITE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. ONLY THE PROSPECTUS MAKES SUCH AN OFFER. THE USE OF THIS MATERIAL IS AUTHORIZED ONLY WHEN IT IS ACCOMPANIED BY, AND SHOULD BE READ IN CONJUNCTION WITH, A PHILLIPS EDISON GROCERY CENTER REIT I ("GROCERY CENTER REIT I") PROSPECTUS, WHICH MORE FULLY EXPLAINS THE RISKS AND IMPLICATIONS OF AN INVESTMENT IN GROCERY CENTER REIT I. No offering is made except by a prospectus filed with the department of law of the state of New York. Neither the Securities and Exchange Commission, the attorney general of the state of New York, nor any state securities regulator has passed on or endorsed the merits of this offering.