<SUBMISSION>
<ACCESSION-NUMBER>0001157523-09-000867
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20090205
<ITEMS>2.02
<FILING-DATE>20090205
<DATE-OF-FILING-DATE-CHANGE>20090205
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>KIMCO REALTY CORP
<CIK>0000879101
<ASSIGNED-SIC>6798
<IRS-NUMBER>132744380
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-10899
<FILM-NUMBER>09569896
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3333 NEW HYDE PARK RD
<STREET2>PO BOX 5020
<CITY>NEW HYDE PARK
<STATE>NY
<ZIP>11042
<PHONE>5168699000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3333 NEW HYDE PARK ROAD
<STREET2>PO BOX 5020
<CITY>NEW HYDE PARKQ
<STATE>NY
<ZIP>11042
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5888753.htm
<DESCRIPTION>KIMCO REALTY CORP. 8-K
<TEXT>
<html>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-family: Times New Roman; font-size: 12pt">Washington,
      D.C. 20549</font><br><br><font style="font-family: Times New Roman; font-size: 18pt"><b>FORM
      8-K</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF THE</b></font><br><font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      EXCHANGE ACT OF 1934</b></font><br><br><font style="font-family: Times New Roman; font-size: 10pt">Date
      of Report (Date of earliest event reported)</font><br><font style="font-family: Times New Roman; font-size: 10pt">February
      5, 2009</font><br><br><u><font style="font-family: Times New Roman; font-size: 18pt"><b>Kimco
      Realty Corporation</b></font></u><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      Name of Registrant as Specified in its Charter)</font><br><br>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Maryland</u>
          </p>
        </td>
        <td style="width: 34%; padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>1-10899</u>
          </p>
        </td>
        <td style="width: 33%; padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>13-2744380</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or Other Jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of Incorporation)
          </p>
        </td>
        <td style="width: 34%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            File Number)
          </p>
        </td>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 41%; padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            3333 New Hyde Park Road
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Suite 100
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>New Hyde Park, NY</u>
          </p>
        </td>
        <td style="width: 26%">
          &#160;
        </td>
        <td style="width: 33%; padding-right: 0.0px; padding-left: 0.0px; text-align: center; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>11042</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 41%; padding-left: 0.0px; text-align: center" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Address
          of Principal Executive Offices)</font>
        </td>
        <td style="width: 26%">

        </td>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      Registrant&#8217;s telephone number, including area code: (212) 869-9000<br><br><b>No
      Change</b><br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      Name or Former Address, if Changed Since Last Report)</font><br><br>
    </p>
    <p>
      <!--end_optional_former-->
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Item
      2.02.&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b></font><br>
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      The information contained in this Item 2.02 of the Current Report on
      Form 8-K of Kimco Realty Corporation (the &#8220;Company&#8221;) is being furnished
      pursuant to &#8220;Item 2.02 &#8212; Results of Operations and Financial Condition&#8221;
      and &#8220;Item 7.01 &#8212; Regulation FD Disclosure&#8221; of Form 8-K.
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      On February 5, 2009, Kimco Realty Corporation issued a press release
      announcing its financial results for the fourth quarter and full year
      ended December 31, 2008. A copy of the press release is furnished as
      Exhibit 99.1 to this report.
    </p>
    <p style="text-indent: 30.0px; font-family: Times New Roman; font-size: 10pt">
      A copy of the Company&#8217;s press release is an exhibit to this Current
      Report on Form 8-K and is not being filed for purposes of Section 18 of
      the Securities Exchange Act of 1934, as amended. The information in this
      Current Report on Form 8-K, including the exhibit, shall not be deemed
      to be incorporated by reference into any filing of the Company, whether
      made before or after the date hereof, regardless of any general
      incorporation language in such filing.
    </p>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the Registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td colspan="6" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>KIMCO REALTY CORPORATION</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="3">

        </td>
        <td style="width: 17%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 44%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 3%; padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>By:</i>
          </p>
        </td>
        <td colspan="2" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>/s/ Michael V. Pappagallo</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Name:</i>
          </p>
        </td>
        <td style="width: 25%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Michael V. Pappagallo</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Title:</i>
          </p>
        </td>
        <td style="width: 25%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Executive Vice President,</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Chief Financial Officer and</i>
          </p>
        </td>
        <td style="width: 17%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i>Chief Administrative Officer</i>
          </p>
        </td>
        <td style="width: 17%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 6%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="width: 44%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            February 5, 2009
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 25%">

        </td>
        <td style="width: 17%">

        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <u><font style="font-family: Times New Roman; font-size: 10pt"><b>EXHIBIT
      INDEX</b></font></u>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 15%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 15%; padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="width: 85%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release, dated February 5, 2009 issued by Kimco Realty
            Corporation
          </p>
        </td>
      </tr>
    </table>
    </div>
  </body>
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     PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5888753ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Kimco
      Realty Corporation announces earnings for fourth quarter and full year
      2008; Declares regular quarterly cash dividend</b></font>
    </p>
    <p>
      NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--February 5, 2009--Kimco Realty
      Corporation (NYSE: KIM) today reported results for the quarter and year
      ending December 31, 2008.
    </p>
    <p>
      <u><b>Highlights for 2008 and Fourth Quarter 2008</b></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Sourced approximately $1.8 billion in total new debt and equity;
      </li>
      <li style="margin-bottom: 10.0px">
        Refinanced approximately $1.1 billion in maturing mortgages and
        unsecured debt;
      </li>
      <li style="margin-bottom: 10.0px">
        Extended maturities of construction and other loans totaling $330
        million;
      </li>
      <li style="margin-bottom: 10.0px">
        Executed 1,844 leases totaling over 5.7 million square feet in 2008,
        representing increases of 12.3 percent and 9.5 percent on new and
        renewal leases signed over one year ago;
      </li>
      <li style="margin-bottom: 10.0px">
        Declared regular quarterly cash dividend of $0.44 per common share
        payable April 15, 2009 to shareholders of record on April 6, 2009;
      </li>
      <li style="margin-bottom: 10.0px">
        Announced management promotions.
      </li>
    </ul>
    <p>
      <b>Net loss to common shareholders</b> for the fourth quarter of 2008
      was $63.3 million or $0.24 per diluted share compared to net income
      available to common shareholders of $72.1 million or $0.28 per diluted
      share for the fourth quarter of 2007. The change in year-over-year net
      income is primarily related to additional impairment charges in 2008 of
      $113.1 million or $0.44 per diluted share resulting principally from the
      write-down in the fourth quarter of 2008 of securities investments and
      from the write-down of its equity investment in the company&#8217;s
      unconsolidated joint ventures with Prudential Real Estate Investors
      (PREI) sponsored real estate funds. For the full year 2008, net income
      available to common shareholders was $202.6 million or $0.78 per diluted
      share compared to $423.2 million or $1.65 per diluted share for the full
      year 2007.
    </p>
    <p>
      <b>Funds from operations (FFO),</b> a widely accepted supplemental
      measure of REIT performance, was $10.5 million for the fourth quarter of
      2008 compared to $136.2 million for the same period one year ago. FFO
      per diluted share was $0.04 for the fourth quarter of 2008 compared to
      $0.53 in the fourth quarter of 2007. For the full year 2008, FFO was
      $522.9 million compared to $669.8 million in 2007 and FFO per diluted
      share was $2.02 compared to $2.59 in 2007. Excluding additional
      impairment charges in 2008 over 2007 of $0.44 per diluted share, FFO per
      diluted share was $2.46 and $2.59 for 2008 and 2007, respectively. A
      reconciliation of net income to FFO is provided in the tables
      accompanying this press release.
    </p>
    <div style="text-indent: 0pt; width: 100%; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      For the quarter and year ended December 31, 2008, the company recognized
      non-cash impairment charges of $111.8 million and $121.4 million, net of
      tax, as well as $4 million related to charges for workforce reduction.
    </p>
    <p>
      Approximately $83.1 million and $92.7 million of the total non-cash
      impairment charges for the quarter and the year, respectively, was due
      to the decline in value of certain marketable equity and other
      securities that were deemed to be other than temporary. The company&#8217;s
      previous earnings guidance estimated these charges at approximately $50
      million for the fourth quarter; however, the unprecedented deterioration
      of the equity markets during the fourth quarter of 2008 resulted in a
      larger impairment than previously estimated.
    </p>
    <p>
      Additionally, the company recognized non-cash impairments of $22.2
      million, net to Kimco, against the carrying value of its investment in
      its unconsolidated joint ventures with PREI, reflecting an other than
      temporary decline in the fair value of its investment in accordance with
      accounting principles. Also, impairments of approximately $6.5 million
      were recognized on real estate development projects including two of
      Kimco&#8217;s development projects: Plantations Crossing and Miramar Town
      Center. Additionally, in connection with a reduction in force, the
      company recognized severance charges of approximately $4 million. None
      of these charges were previously reflected in the company&#8217;s guidance.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Capital Structure and
      Dividend</b></font></u>
    </p>
    <p>
      For the year, Kimco sourced approximately $750 million in total debt and
      equity for its own balance sheet. During the third quarter, the company
      raised approximately $410 million from an equity offering of 11.5
      million shares of common stock priced at $37.10. Additionally,
      approximately $340 million in unsecured facilities were obtained during
      the year.
    </p>
    <p>
      Within its joint venture programs, Kimco raised more than $1 billion:
      $650 million in unsecured debt and approximately $385 million in secured
      debt. This includes a $650 million two-year facility provided by a
      consortium of 18 banks for the company&#8217;s joint venture with PREI, $218
      million of proceeds from eight individual non-recourse mortgages at
      rates ranging from 6.0 to 6.5 percent with maturities of seven to ten
      years for the Kimco Income REIT (KIR) joint venture, and $167&#160;million
      in&#160;proceeds&#160;from eight other non-recourse loans for individual joint
      ventures. In addition, the company successfully completed the extensions
      of various construction loans and other maturing loans totaling
      $330&#160;million. The company sourced these loans from various national and
      regional commercial banks and life insurance companies.
    </p>
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        </div>
      </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The company maintains access to approximately $1.0 billion of immediate
      liquidity under its $1.5 billion U.S. revolving credit facility and its
      CAD $250 million Canadian revolving credit facility. Both these
      facilities have initial maturity dates of 2011, with one-year extension
      options. Additionally, the company has 392 unencumbered properties on
      its balance sheet with capacity under its bond indenture and
      line-of-credit covenants of up to $1.3 billion in additional financing.
    </p>
    <p>
      The company&#8217;s current dividend is $0.44 per share per quarter. The Board
      of Directors declared a regular quarterly cash dividend of $0.44 per
      common share, payable on April 15, 2009 to shareholders of record on
      April 6, 2009, representing an ex-dividend date of April 2, 2009.
      Management and the Board continue to evaluate the company&#8217;s dividend
      policy on a quarterly basis as they monitor sources of capital and
      evaluate the impact of the economy on operating fundamentals.
    </p>
    <p>
      <b>Management Promotions</b>
    </p>
    <p>
      In November, Kimco announced the promotions of three executive officers.
      David B. Henry was appointed president of the company; Michael V.
      Pappagallo was appointed chief administrative officer in addition to his
      role as chief financial officer; David Lukes was appointed chief
      operating officer of the company, succeeding Michael J. Flynn. Mr. Flynn
      continues to work with Kimco in a consulting capacity and in an advisory
      role on the company&#8217;s investment management committee. Milton Cooper
      continues to serve as chief executive officer and chairman of the board
      of directors. Mr. Cooper will lead an expanded office of the chairman
      which includes the above named executives.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Core Business
      Operations</b></font></u>
    </p>
    <p>
      <u><b>Portfolio Highlights</b></u>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Posted year-end 2008 occupancy of 93.7 percent in its shopping center
        portfolio;
      </li>
      <li style="margin-bottom: 10.0px">
        Achieved growth of 1.3 percent in its U.S. same-store net operating
        income for the fourth quarter.
      </li>
    </ul>
    <p>
      Kimco&#8217;s shopping center portfolio includes 906 operating properties,
      comprised of 813 assets in the United States and Puerto Rico, 51 in
      Canada, 34 in Mexico and eight in Chile, as well as 40 development
      properties, consisting of five assets in the United States, 29 in Mexico
      and six in South America.
    </p>
    <p>
      For the quarter ended December 31, 2008, the company executed a total of
      500 leases totaling 1.3 million square feet in its shopping center
      holdings. These comprised 189 new leases for 368,000 square feet and 311
      lease renewals for 950,000 square feet. In the U.S. portfolio, Kimco
      signed 153 new leases for 344,000 square feet and 250 lease renewals for
      892,000 square feet. On new leases signed within the U.S. portfolio, the
      average increase in contractual base rent was approximately 10.2 percent
      on a cash basis for the quarter. Including renewals for the same space,
      the average increase was 8.6 percent.
    </p>
    <p>
      For the year, the company executed 1,844 leases totaling over 5.7
      million square feet: 808 new leases totaling 2.1 million square feet and
      1,036 lease renewals for 3.6 million square feet. The company delivered
      strong leasing results in the U.S. portfolio with 644 new leases signed
      totaling 1.9 million square feet as well as 828 lease renewals for 3.2
      million square feet. On new leases signed for the same space in the U.S.
      portfolio, the average increase in contractual base rent for the year
      was 12.3 percent on a cash basis. Including renewals, the average
      increase was 10.1 percent. Kimco&#8217;s pro rata occupancy within its U.S.
      portfolio at year-end was 93.4 percent.
    </p>
    <p>
      Kimco&#8217;s shopping center portfolio, which includes almost 1,000 centers,
      is diversified both geographically and by tenant. Typically, Kimco
      centers are located in densely populated markets with supply constraints
      and are anchored by tenants generating sales in the top 25% of their
      chain. In the U.S., 92 percent of the centers are located in first-ring
      suburbs. With more than 7,000 tenants and 13,000 leases, Kimco&#8217;s centers
      are primarily anchored by tenants targeted to meet the needs of the
      daily consumer such as grocery stores, pharmacies, and other
      value-oriented retailers. No single tenant accounts for more that 3.3
      percent of the company&#8217;s annual base rent and 11 of the 13 tenants that
      contribute more than one percent each of Kimco&#8217;s annual base rent are
      investment grade rated by Standard &amp; Poor&#8217;s.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
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        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Investment Management Programs</u>
    </p>
    <p>
      The company realized fee income of $11.9 million from Kimco&#8217;s investment
      management business in the fourth quarter of 2008. This included $10.1
      million in management fees, $0.2 million in transaction-based fees and
      $1.6 million in other ongoing fees and excluding promoted income.
    </p>
    <p>
      At year-end, the company had a total of 337 properties in investment
      management funds with 14 institutional partners.
    </p>
    <p>
      <u>Preferred Equity Investments</u>
    </p>
    <p>
      During the quarter, the company recognized a total of $5.0 million of
      recurring income from preferred equity investments. Kimco currently has
      approximately $437 million invested in 237 properties in its preferred
      equity program: 142 properties in the U.S. and 95 properties in Canada.
    </p>
    <p>
      <u>Retailer Services</u>
    </p>
    <p>
      Kimco&#8217;s Retailer Services, which provides capital to retailers with
      significant real estate holdings, recognized income of $6.3 million of
      recurring income during the quarter.
    </p>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Other</b></font></u>
    </p>
    <p>
      <u>Kimco Developers (KDI)</u>
    </p>
    <p>
      During the quarter, KDI, Kimco&#8217;s U.S. development business, was
      integrated into the company&#8217;s operating divisions. The company currently
      has five active development projects in the U.S. and thirteen projects
      in the U.S. which are either completed or pending stabilization and are
      available for sale.
    </p>
    <p>
      <u>Other</u>
    </p>
    <p>
      Kimco realized approximately $14 million in recurring income during the
      quarter from investments outside its core operating business. The
      company realized $6.5 million from its various investments with Westmont
      Hospitality, $6.0 million from its investments in marketable securities
      and $1.5 million from miscellaneous investments.
    </p>
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        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>Portfolio Overview</b></font></u>
    </p>
    <p>
      As of December 31, 2008, Kimco owned equity interests in 1,950
      properties totaling 182 million square feet in the United States, Puerto
      Rico, Canada, Mexico and South America. This encompasses 412
      consolidated shopping centers, 337 shopping centers in investment
      management programs, 144 other joint venture shopping centers and 53
      development properties that together total 946 properties and 141
      million square feet. This also includes 237 properties in the company&#8217;s
      preferred equity program and 767 other real estate related investments,
      together which aggregate approximately 41 million square feet.
    </p>
    <p>
      At year-end, the company had interests in 153 properties totaling 19
      million square feet in Canada. This is comprised of 51 shopping centers,
      95 preferred equity investments and seven other real estate related
      investments. In Mexico, the company owned interests in 146 properties
      totaling 23 million square feet and comprised of 34 shopping centers, 29
      properties under development and 83 other real estate investments. The
      company also has investments in 11 properties in Chile, two development
      projects in Brazil and one project in Peru.
    </p>
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        </div>
      </div>
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        <div style="text-align: center">

        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u><font style="border-bottom: 1px solid black"><b>2009 Guidance</b></font></u>
    </p>
    <p>
      The company&#8217;s core business objectives for 2009 are principally centered
      on the following:
    </p>
    <p>
      1) Source financing and execute select property and investment
      dispositions to minimize use of bank lines of credit; and
    </p>
    <p>
      2) Focus on increasing long-term shareholder value through the ownership
      and management of neighborhood and community shopping centers.
    </p>
    <p>
      The company estimates $1.70 - $1.90 consisting of:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        FFO: $1.45 &#8211; $1.55 per diluted share in income from recurring sources
        in Kimco&#8217;s core business operations including:
      </li>
    </ul>
    <ul style="margin-left: 60.0px">
      <li style="margin-bottom: 10.0px">
        $670 - $690 million from its in-place shopping center portfolio, net
        of joint venture interest expense;
      </li>
      <li style="margin-bottom: 10.0px">
        $40 - $45 million from recurring funds management fees;
      </li>
      <li style="margin-bottom: 10.0px">
        $25 - $30 million in recurring income from Preferred Equity;
      </li>
      <li style="margin-bottom: 10.0px">
        $25 &#8211; $30 million in recurring income from Retailer Services;
      </li>
      <li style="margin-bottom: 10.0px">
        $365 - $385 million of in-place interest, preferred dividends and G&amp;A
        expenses;
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        FFO: $0.05 - $0.10 per diluted share from transaction-related income
        from its core business operations;
      </li>
      <li style="margin-bottom: 10.0px">
        FFO: $0.20 - $0.25 per diluted share for income from recurring sources
        outside Kimco&#8217;s core business operations:
      </li>
    </ul>
    <ul style="margin-left: 60.0px">
      <li style="margin-bottom: 10.0px">
        $25 - $30 million from Kimco&#8217;s investments with Westmont;
      </li>
      <li style="margin-bottom: 10.0px">
        $25 - $30 million from marketable securities;
      </li>
      <li style="margin-bottom: 10.0px">
        $10 - $15 million in other recurring income;
      </li>
    </ul>
    <ul>
      <li style="margin-bottom: 10.0px">
        No transaction income from non-core businesses.
      </li>
    </ul>
    <p>
      This guidance does not include any estimate for additional impairments.
    </p>
    <p>
      <b>Conference Call and Supplemental Materials</b>
    </p>
    <p>
      The company will hold its quarterly conference call today, Thursday,
      February 5 at 11:00 a.m. Eastern Time. The call will include a review of
      the company&#8217;s fourth quarter 2008 performance as well as a discussion of
      the company&#8217;s strategy and expectations for the future.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
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        </div>
      </div>
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        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      To participate, dial 1-888-802-2266. A replay will be available for one
      week by dialing 1-888-203-1112; the Conference ID will be 5466227.
      Access to the live call and replay will be available through the
      company's website at <u>www.kimcorealty.com</u> under &#8220;Investor
      Relations: Presentations.&#8221;
    </p>
    <p>
      <b>About Kimco</b>
    </p>
    <p>
      Kimco Realty Corporation, a real estate investment trust (REIT), owns
      and operates the nation's largest portfolio of neighborhood and
      community shopping centers. As of December 31, 2008, the company owned
      interests in 1,950 properties comprising 182 million square feet of
      leasable space across 45 states, Puerto Rico, Canada, Mexico and South
      America. Publicly traded on the NYSE under the symbol KIM and included
      in the S&amp;P 500 Index, the company has specialized in shopping center
      acquisitions, development and management for 50 years. For further
      information, visit the company's web site at <u>www.kimcorealty.com</u>.
    </p>
    <p>
      <b>Safe Harbor Statement</b>
    </p>
    <p>
      The statements in this release state the company's and management's
      hopes, intentions, beliefs, expectations or projections of the future
      and are forward-looking statements. It is important to note that the
      company's actual results could differ materially from those projected in
      such forward-looking statements. Factors that could cause actual results
      to differ materially from current expectations include, but are not
      limited to, (i) general economic conditions, (ii) the inability of major
      tenants to continue paying their rent obligations due to bankruptcy,
      insolvency or general downturn in their business, (iii) local real
      estate conditions, (iv) increases in interest rates, and (v) increases
      in operating costs and real estate taxes. Additional information
      concerning factors that could cause actual results to differ materially
      from those forward-looking statements is contained from time to time in
      the company's SEC filings, including but not limited to the company's
      report on Form 10-K for the year ended December 31, 2007. Copies of each
      filing may be obtained from the company or the Securities &amp; Exchange
      Commission.
    </p>
    <p>
      The company refers you to the documents filed by the company from time
      to time with the Securities and Exchange Commission, specifically the
      section titled &quot;Risk Factors&quot; in the company's Annual Report on Form
      10-K for the year ended December 31, 2007, as may be updated or
      supplemented in the company&#8217;s Form 10-Q filings, which discuss these and
      other factors that could adversely affect the company's results.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
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        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>KIMCO REALTY CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Condensed Consolidated Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Three Months Ended Dec 31,</b>
        </td>
        <td colspan="2">

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Year Ended Dec 31,</b>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2007</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2007</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Revenues from Rental Properties
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          196,989
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          177,889
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          758,704
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          674,534
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Rental Property Expenses:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Rent
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,562
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,120
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          13,367
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          12,131
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Real Estate Taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          27,244
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          23,721
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          98,005
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          82,508
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Operating and Maintenance
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          27,063
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          24,601
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          104,698
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          89,098
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          57,869
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          51,442
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          216,070
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          183,737
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Operating Income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>139,120</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>126,447</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>542,634</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>490,797</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Income from Other Real Estate Investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          9,199
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,709
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          86,643
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          78,524
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Mortgage Financing Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,731
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          2,388
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          18,333
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          14,197
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Management and Other Fee Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,850
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,358
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          47,666
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          54,844
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Depreciation and Amortization
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (52,619
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (52,942
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (204,310
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (188,063
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>112,281</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>98,960</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>490,966</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>450,299</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Interest, Dividends and Other Investment Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          7,513
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,606
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          56,119
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          36,238
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Other Expense, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (339
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (4,621
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,208
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (10,550
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Interest Expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (52,256
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (55,712
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (212,591
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (213,086
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          General and Administrative Expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (36,441
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (26,840
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (117,879
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (103,882
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          30,758
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          16,393
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          214,407
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          159,019
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Benefit / (Provision) for Income Taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          17,136
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          10,032
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3,542
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          42,372
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Equity in Income / (Loss) of Joint Ventures, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (5,808
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          61,678
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          132,208
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          173,362
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Minority Interests in Income, Net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (495
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (9,738
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (26,832
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (34,251
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Gain on Sale of Development Properties,
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net of Tax of $927, $7,552, $14,626, &amp; $16,040, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,390
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          11,329
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          21,939
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          24,059
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Impairments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 25.0px; text-align: left" valign="top">
          Property Carrying Values,
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net of Tax of $5,445, $3,400, $5,445, &amp; $3,400, respectively &amp;
          Minority Interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (6,557
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (5,100
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (6,557
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (5,100
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 25.0px; text-align: left" valign="top">
          Marketable Equity Securities &amp; Equity Investments,
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net of Tax of $25,627, $1,718, $25,697, &amp; $2,118, respectively
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (83,079
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,578
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (92,719
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3,178
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 25.0px; text-align: left" valign="top">
          Investment in Real Estate Joint Ventures
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (15,500
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (15,500
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>Income / (Loss) from Continuing Operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(62,155</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>82,016</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>223,404</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>356,283</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Discontinued Operations:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income from Discontinued Operating Properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          737
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,065
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          6,577
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          35,608
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Minority Interests in Income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (42
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (1,281
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (5,740
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Loss on Operating Properties Held for Sale/Sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (598
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (598
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (1,832
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Gain on Disposition of Operating Properties, Net of Tax
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          10,487
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          20,018
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          5,538
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>Income from Discontinued Operations</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>10,626</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>1,023</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>24,716</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>33,574</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Gain on Transfer of Operating Properties (1)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          6
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,195
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Gain on Sale of Operating Properties, Net of Tax (1)
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          587
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          2,708
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          6
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          1,782
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          2,708
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Income / (Loss) before Extraordinary Item</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>(51,523</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>83,039</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>249,902</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>392,565</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Extraordinary Gain from JV Inv. Resulting from Purchase Price
          Allocation,
        </td>
        <td colspan="4">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Net of Income Tax of $0, $0, $0, $36,227 and Minority Interest
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          50,265
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Income / (Loss)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>(51,523</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>83,039</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>249,902</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <b>442,830</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Preferred Dividends
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (11,822
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (10,931
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (47,288
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (19,659
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>Net Income / (Loss) Available to Common Shareholders</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(63,345</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>72,108</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>202,614</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>423,171</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted Average Shares Outstanding for Net Income Calculations:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>268,311</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>252,735</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>257,811</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>252,129</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Units
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          33
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Dilutive Effect of Options
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,039
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          999
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,929
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>268,311</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>256,774</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>258,843</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>257,058</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Income / (Loss) from Continuing Operations Per Common Share - Basic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(0.28</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.28</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.69</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>1.35</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Income / (Loss) from Continuing Operations Per Common Share - Diluted
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(0.28</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.28</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.69</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>1.32</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Net Income / (Loss) Per Common Share - Basic
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(0.24</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.29</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.79</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>1.68</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Net Income / (Loss) Per Common Share - Diluted
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>(0.24</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: left; white-space: nowrap" valign="bottom">
          <b>)</b>
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.28</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.78</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>1.65</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (3
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          <b>(1)</b>
        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Included in the calculation of income from continuing operations per
          common share in accordance with SEC guidelines.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          <b>(2)</b>
        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Net income would be increased by $18 for the year ended December 31,
          2008.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          <b>(3)</b>
        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          The impact of the conversion would have an anti-dilutive effect on
          net income and therefore have not been included.
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>KIMCO REALTY CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Reconciliation of Certain Non-GAAP Financial Measures</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>(in thousands, except per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="23" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Three Months Ended</b>
        </td>
        <td colspan="2">

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Year Ended</b>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
        <td colspan="2">

        </td>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2007</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2007</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Funds From Operations - &quot;FFO&quot;</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net (Loss) / Income
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (51,523
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          83,039
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          249,902
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          442,830
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Gain on Disposition of Operating Prop., Net of Minority Interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (10,494
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (21,799
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (5,914
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Gain on Disposition of Joint Venture Operating Properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (170
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (18,688
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,443
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (44,826
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Depreciation and Amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          52,694
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          51,362
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          204,843
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          187,779
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Depr. and Amort. - Real Estate JV's, Net of Minority Interests
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          34,295
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          31,437
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          134,917
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          109,611
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Unrealized Remeasurement of Derivative Instrument
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2,475
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,733
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Preferred Stock Dividends
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (11,822
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (10,931
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (47,288
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (19,659
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>Funds From Operations</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>10,505</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>136,219</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>522,865</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>669,821</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted Average Shares Outstanding for FFO Calculations:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          268,311
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          252,735
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          257,811
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          252,129
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          Units
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,416
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          774
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,766
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 20.0px; text-align: left" valign="top">
          Dilutive Effect of Options
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          102
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          4,039
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          999
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          4,929
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          268,413
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          262,190
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          259,584
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          262,824
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>FFO Per Common Share - Basic</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.04</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.54</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>2.03</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>2.66</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          <b>FFO Per Common Share - Diluted</b>
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.04</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (1
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>0.53</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>2.02</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <b>2.59</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (2
        </td>
        <td style="padding-right: 0.0px; padding-bottom: 4.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          (1)
        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period. The impact of the
          conversion would have an anti-dilutive effect on funds from
          operations and therefore have not been included.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="top">
          (2)
        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Reflects the potential impact if certain units were converted to
          common stock at the beginning of the period. Funds from operations
          would be increased by $2,418 for the three months ended December 31,
          2007 and $1,291 and $10,083 for the year ended December 31, 2008 and
          2007 respectively.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Pursuant to the definition of Funds from Operations (&quot;FFO&quot;) adopted
          by the Board of Governors of the National Association of Real Estate
          Investment Trusts (&quot;NAREIT&quot;), FFO is calculated by adjusting net
          income (loss) (computed in accordance with GAAP), excluding gains
          from sales of depreciated property, plus depreciation and
          amortization, and after adjustments for unconsolidated partnerships
          and joint ventures. Adjustments for unconsolidated partnerships and
          joint ventures are calculated to reflect FFO on the same basis.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="22" style="padding-left: 0.0px; text-align: left" valign="top">
          Given the nature of the Company's business as a real estate owner
          and operator, the Company believes that FFO is helpful to investors
          as a measure of its operational performance and FFO is a widely
          recognized measure in the Company's industry. FFO does not represent
          cash generated from operating activities determined in accordance
          with GAAP, and should not be considered as an alternative to net
          cash flows from operating activities (determined in accordance with
          GAAP), as a measure of our liquidity, or as an indicator of our
          ability to make cash distributions. In addition, the comparability
          of the Company's FFO with the FFO reported by other REITs may be
          affected by the differences that exist regarding certain accounting
          policies relating to expenditures for repairs and other recurring
          items.
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>KIMCO REALTY CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Condensed Consolidated Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>(in thousands, except share information)</b>
        </td>
      </tr>
      <tr>
        <td colspan="8" style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <b>(unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>December 31,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2008</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; white-space: nowrap" valign="bottom">
          <b>2007</b>
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 5.0px; text-align: left" valign="top">
          Assets:
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Operating Real Estate, Net of Accumulated Depreciation of
            $1,159,664 and $977,444 respectively
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,690,277
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          5,203,185
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Investments and Advances in Real Estate Joint Ventures
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1,161,382
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,246,917
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Real Estate Under Development
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            968,975
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          1,144,406
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Other Real Estate Investments
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          566,324
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          615,016
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Mortgages and Other Financing Receivables
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          181,992
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          153,847
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Cash and Cash Equivalents
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          136,177
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          87,499
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Marketable Securities
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          258,174
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          212,988
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Accounts and Notes Receivable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          97,702
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          88,017
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Other Assets
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          336,144
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          345,941
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 5.0px; text-align: left" valign="top">
          Total Assets
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            9,397,147
          </p>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          9,097,816
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 5.0px; text-align: left" valign="top">
          Liabilities:
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Notes Payable
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,440,818
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,131,765
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Mortgages Payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          847,491
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          838,736
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Construction Loans Payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          268,337
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          245,914
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Dividends Payable
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          131,097
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          112,052
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Other Liabilities
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          388,818
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          426,616
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Total Liabilities
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          5,076,561
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          4,755,083
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Minority Interests
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          345,240
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          448,159
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 5.0px; text-align: left" valign="top">
          Stockholders' Equity:
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Preferred Stock, $1.00 par value, authorized 3,232,000 shares
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Class F Preferred Stock, $1.00 par value, authorized 700,000 shares
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Issued and Outstanding 700,000 shares
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          700
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Aggregate Liquidation Preference $175,000
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Class G Preferred Stock, $1.00 par value, authorized 184,000 shares
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Issued and Outstanding 184,000 shares
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          184
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          184
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Aggregate Liquidation Preference $460,000
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Common Stock, $.01 par value, authorized 750,000,000 shares
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Issued 271,080,525 and 253,350,144, respectively
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Outstanding 271,080,525 and 252,803,564, respectively
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          2,711
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          2,528
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Paid-In Capital
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,217,806
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,677,509
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Retained Earnings/(cumulative distributions in excess of net income)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          (58,162
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          180,005
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          4,163,239
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          3,860,926
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Accumulated Other Comprehensive Income
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (187,893
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          33,648
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 2.0px; padding-left: 5.0px; text-align: left" valign="top">
          Total Stockholders' Equity
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            3,975,346
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          3,894,574
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-bottom: 4.0px; padding-left: 5.0px; text-align: left" valign="top">
          Total Liabilities and Stockholders' Equity
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            9,397,147
          </p>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          9,097,816
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt">
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>Reconciliation of Projected Diluted Net Income Per Common Share
          to Projected Diluted Funds From Operations Per Common Share</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(unaudited)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center" valign="top">
          Projected Range
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center" valign="top">
          Full Year 2009
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>Low</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>High</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Projected diluted net income per common share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.56
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.74
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Unrealized remeasurement of derivative instrument
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          (0.02
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Projected depreciation &amp; amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0.75
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0.78
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Projected depreciation &amp; amortization real estate joint ventures,
            net of minority interests
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0.49
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            0.53
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Gain on disposition of operating properties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (0.05
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (0.10
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; text-align: left; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 2.0px; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Gain on disposition of joint venture operating properties, net of
            minority interests
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (0.03
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: right; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (0.07
          </p>
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            )
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-bottom: 4.0px; padding-left: 0.0px; text-align: left" valign="top">
          Projected FFO per diluted common share
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          1.70
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; padding-left: 0.0px; border-bottom: double black 2.25pt; text-align: right; white-space: nowrap" valign="bottom">
          1.90
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="padding-left: 0.0px; text-align: left" valign="top">
          Projections involve numerous assumptions such as rental income
          (including assumptions on percentage rent), interest rates, tenant
          defaults, occupancy rates, foreign currency exchange rates (such as
          the US-Canadian rate), selling prices of properties held for
          disposition, expenses (including salaries and employee costs),
          insurance costs and numerous other factors. Not all of these factors
          are determinable at this time and actual results may vary from the
          projected results, and may be above or below the range indicated.
          The above range represents management&#8217;s estimate of results based
          upon these assumptions as of the date of this press release.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Kimco Realty Corporation<br>Barbara Pooley, 1-866-831-4297<br>senior
      vice president, finance &amp; investor relations
    </p>
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