<SUBMISSION>
<ACCESSION-NUMBER>0000950116-03-002102
<TYPE>10-K
<PUBLIC-DOCUMENT-COUNT>20
<PERIOD>20021231
<FILING-DATE>20030327
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BRANDYWINE REALTY TRUST
<CIK>0000790816
<ASSIGNED-SIC>6798
<IRS-NUMBER>232413352
<STATE-OF-INCORPORATION>MD
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>10-K
<ACT>34
<FILE-NUMBER>001-09106
<FILM-NUMBER>03621851
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>14 CAMPUS BLVD
<STREET2>STE 100
<CITY>NEWTOWN SQUARE
<STATE>PA
<ZIP>19073
<PHONE>6103255600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>TWO GREENTREE CENTRE
<STREET2>SUITE 100
<CITY>MARLTON
<STATE>NJ
<ZIP>08053
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>LINPRO SPECIFIED PROPERTIES
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>ten-k.htm
<DESCRIPTION>10-K
<TEXT>
<html>
<head>
    <title>Prepared and filed by St Ives Burrups</title>
</head>
<body bgcolor="#FFFFFF">


<p align="left"><a name="cover"></a></p>
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<p align="center"><b><font size="3" face="serif">UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION<br>
Washington, D.C. 20549</font></b></p>
<p align="center"><font face="serif" size="2"><b>FORM 10-K</b></font></p>
<div style="margin-left: 6%"><font size="2" face="serif">(Mark One)</font><br>
</div>
<br>
<table width="80%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td align="left" width="3%"><font size="2" face="serif">&nbsp;<img src="tickedbox.gif" width="12" height="12"></font></td>
    <td align="left"><font size="2" face="serif"><b>ANNUAL REPORT PURSUANT TO SECTION
      13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934</b></font></td>
  </tr>
</table>
<p align="center"><font size="2" face="serif">For the fiscal year ended <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;December
      31, 2002&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>

<p align="center"><font size="2" face="serif">OR</font></p><table width="80%" border="0" align="center" cellpadding="0" cellspacing="0"><tr valign="top">
    <td align="left" width="3%"><img src="emptybox.gif" width="12" height="12"></td>
<td align="left"><font size="2" face="serif"><b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 </b></font></td>
</tr></table>
<p align="center"><font size="2" face="serif">For the transition period from________________to________________</font></p>
<p align="center"><font size="2" face="serif">Commission File Number <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1-9106&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>
<table width="80%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr align="center" valign="bottom">
    <td width="33%"><font face="serif" size="3"><b>Brandywine Realty Trust</b></font><br>
      <hr noshade align="center" width="280" size="2">
      <font size="2">(Exact name of registrant
  as specified in its charter)</font></font></font></td>
</table>

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  <tr align="center" valign="bottom">
    <td width="50%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">Maryland</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="160" size="2">
      (State or other jurisdiction of</font><br>
<font size="2" face="serif">Incorporation
      or organization)</font></td>
    <td><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">23-2413352<br>
      <hr noshade align="center" width="120" size="2">
      </font><font size="2" face="serif">(I.R.S. Employer<br>
      </font><font size="2" face="serif">Identification Number)</font></td>
</tr>
<br>
<br>
</table>

<br>
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  <tr align="center" valign="bottom">
    <td width="66%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">401 Plymouth Road, Plymouth Meeting, Pennsylvania</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="290" size="2">
      (Address of principal executive offices)</font></td>
    <td><font size="2" face="serif">&nbsp;19462<br>
      <hr noshade align="center" width="56" size="2">
    (Zip Code)</font></td>
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<br>
<br>
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<br>
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    <td width="33%"><font size="2" face="serif">&nbsp;(610)
        325-5600<br>
      <hr noshade align="center" width="280" size="2">
    Registrant&#146;s telephone number, including area code)</font></td>
</table><br>
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    <td width="33%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">&nbsp;</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="300" size="2">Securities registered pursuant to
  Section 12(b) of the Act:</font></td>
</table>
<br>
<table width="80%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr align="center" valign="bottom">
    <td width="50%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">Title of each class</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="160" size="2">
      Common Shares of Beneficial Interest,</font><br>
<font size="2" face="serif">(par value $0.01 per share)</font></td>
    <td><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">Name of each exchange<br>
on which registered<br>
      <hr noshade align="center" width="120" size="2">
      </font><font size="2" face="serif">New York Stock Exchange</font></td>
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<br>

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<br>
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    <td width="33%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">NONE</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="300" size="2">
      Securities registered pursuant to
  Section 12(g) of the Act:</font></td>
</table>
<br>
<table width="80%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr align="center" valign="bottom">
    <td width="33%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">&nbsp;</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="500" size="2">
      (Title of class)</font></td>
</table>
<br>
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  <tr align="center" valign="bottom">
    <td width="33%"><font size="2" face="serif">&nbsp;</font><font size="2" face="serif">&nbsp;</font><font size="2" face="serif"><br>
      <hr noshade align="center" width="500" size="2">
      (Title of class)</font></td>
</table>
<br>
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<p>&nbsp;</p>
<div style="page-break-before:always"></div>
<page>
<a name="p2"></a>
<div style="text-indent: 3%">
  <p><font size="2" face="serif">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period
  that the registrant was required to file such reports), and (2) has been subject to such filing  requirements for the past 90 days.</font></p>
</div>
<table width="20%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td align="left" width="25%"><font size="2" face="serif">YES&nbsp;&nbsp;<img src="tickedbox.gif" width="12" height="12"></font></td>
    <td align="left" width="25%"><font size="2" face="serif">NO&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12"></font></td>
  </tr>
</table>
<br>
<div style="text-indent: 3%"> <font size="2" face="serif">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant&#146;s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this  Form 10-K. <img src="tickedbox.gif" width="12" height="12"></font>


  <p align="left"><font size="2" face="serif"> Indicate by check mark whether
    the registrant is an accelerated filer (as defined in Rule 12b-2 of the Act).</font>
</div>
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  <tr valign="top">
    <td align="left" width="25%"><font size="2" face="serif">YES&nbsp;&nbsp;<img src="tickedbox.gif" width="12" height="12">&nbsp;&nbsp;</font></td>
    <td align="left" width="25%"><font size="2" face="serif">NO&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12"></font></td>
  </tr>
</table>

<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">The aggregate market value of the Common Shares of Beneficial Interest held by non-affiliates of the registrant as of the last day of the registrant&#146;s most recently completed second fiscal quarter was $742.2 million. The aggregate market value has been computed by reference to the closing price of the Common  Shares of Beneficial Interest on the New York Stock
Exchange on such date. An aggregate of 35,301,820 Common Shares of Beneficial Interest were outstanding as of March 24, 2003.</font></p>
</div>
<p align="center"><font size="2" face="serif"><u>Documents Incorporated By Reference</u></font></p>

<div style="text-indent: 3%">
<p align="left"><font size="2" face="serif">Portions of the proxy statement for the Annual Meeting of Shareholders of Brandywine Realty Trust to be held May 5, 2003 are incorporated by reference into Part III of this Form 10-K.</font></p>
</div>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">2</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<p><a name="contents"></a></p>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="center"><font face="serif" size="2"><b>TABLE OF CONTENTS</b></font></p>
<p align="center"><font face="serif" size="2"><b>FORM 10-K</b></font></p>
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  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Page </b><hr noshade size="1"></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p4">PART I</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p4">4</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td width="2%"><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td width="1%"><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td width="90%"><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p4">Item 1.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p4">Business</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p4">4</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p17a">Item 2.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p17a">Properties</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p17a">17</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p22a">Item 3.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p22a">Legal Proceedings</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p22a">22</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p23a">Item 4.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p236a">Submission of Matters to a Vote of Security Holders</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p23a">23</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p23">PART II</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p23">23</a></font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p23b">Item 5.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p23b">Market
    for Registrant&#146;s Common Equity and Related Shareholder Matters</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p23b">23</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p25a">Item 6.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p25a">Selected Financial Data</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p25a">25</a></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p25b">Item 7.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p25b">Management&#146;s
    Discussion and Analysis of Financial Condition and Results of Operations</a></font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p25b">25</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p36a">Item 8.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p36a">Financial Statements and Supplementary Data</a></font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p36a">36</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p37a">Item 9.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p37a">Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</a></font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p37a">37</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p37">PART III</a></font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p37b">Item 10.</a></font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td><div align="left"><font face="serif" size="2">&nbsp;</font></div></td>
    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2">T<a href="#p37b">rustees and Executive Officers of the Company</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p37b">37</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p37c">Item 11.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p37c">Executive Compensation</a></font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p37c">37</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p37d">Item 12.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p37d">Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters</a></font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p38a">Item 13.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p38a">Certain Relationships and Related Transactions</a></font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#p38a">38</a></font></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p38b">Item 14.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p38b">Controls and Procedures</a></font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p38">PART IV</a></font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p38c">Item 15.</a></font></div></td>
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    <td align="right" valign="bottom"><div align="left"><font face="serif" size="2"><a href="#p38c">Exhibits, Financial Statements, Schedules and Reports on Form 8-K</a></font></div></td>
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    <td><div align="left" style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#p43">SIGNATURES</a></font></div></td>
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    <td colspan="4"><div align="left"><font face="serif" size="2"><a href="#p44">CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</a></font></div></td>
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<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">3</font></p>
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<page>
<a name="p4"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="center"><font face="serif" size="2"><b>PART I</b></font></p>
<p align="left"><font face="serif" size="2"><b>Item 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business</b></font></p>
<p align="left"><font face="serif" size="2"><b>General</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Brandywine Realty Trust (collectively with its subsidiaries, the &#147;Company&#148;) is a self-administered and self-managed real estate
 investment trust (&#147;REIT&#148;) active in acquiring, developing, redeveloping, leasing and managing office and industrial properties.
 As of December 31, 2002, the Company owned 210 office properties, 27 industrial facilities and one mixed-use property  (collectively,
  the &#147;Properties&#148;) containing an aggregate of approximately 16.1 million net rentable square feet. The Company was also performing
   management and leasing services for 43 properties containing an aggregate of 3.1 million net rentable square feet. In addition, as of
    December 31, 2002, the Company held economic interests in ten unconsolidated real estate ventures (the  &#147;Real Estate Ventures&#148;)
	 that were formed with third parties to develop commercial properties. The Real Estate Ventures own eight office buildings that contain
	  approximately 800,000 net rentable square feet. As of December 31, 2002, the Company had an aggregate investment in the Real Estate
	   Ventures of approximately $14.8 million (net of returns of investment received by  Company). As of December 31, 2002, the Company
	    also owned approximately 444 acres of undeveloped land and held options to purchase approximately 63 additional acres. The Company
		also holds an option to enter into a long-term ground lease of property adjacent to Amtrak&#146;s 30th Street Station in Philadelphia
		 and develop a high-rise office property on the leasehold interest. The  Properties are located in the office and industrial markets
		  in and surrounding Philadelphia, Pennsylvania, New Jersey and Richmond, Virginia.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Business Objectives</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s business objectives are to:</div></font></p>
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    <td width="3%"><font face="serif" size="2">&#149;</font></td>
    <td><div align="left"><font face="serif" size="2">maximize cash flow through leasing strategies designed to capture potential rental growth as rental rates increase and as below-market leases are renewed;</font></div></td>
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    <td width="3%"><font face="serif" size="2">&#149;</font></td>
    <td><div align="left"><font face="serif" size="2">attain a high tenant retention rate through aggressive tenant service programs responsive to the varying needs of the Company&#146;s diverse tenant base;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">increase economic diversification while maximizing economies of scale;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">develop high-quality office and industrial properties on the Company&#146;s existing inventory of land, as warranted by market conditions;</font></div></td>
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    <td width="3%"><font face="serif" size="2">&#149;</font></td>
    <td><div align="left"><font face="serif" size="2">capitalize on management&#146;s redevelopment expertise to selectively acquire, redevelop and reposition underperforming properties in desirable locations;</font></div></td>
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    <td width="3%"><font face="serif" size="2">&#149;</font></td>
    <td><div align="left"><font face="serif" size="2">acquire high-quality office and industrial properties and portfolios of such properties at attractive yields in selected submarkets within the Mid-Atlantic region that management expects will experience economic growth and that provide barriers to entry; and</font></div></td>
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    <td width="3%"><font face="serif" size="2">&#149;</font></td>
    <td><div align="left"><font face="serif" size="2">enhance the Company&#146;s investment strategy through the pursuit of joint venture opportunities with high-quality partners having attractive real estate holdings or significant financial resources.</font></div></td>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company expects to continue to concentrate its real estate activities in submarkets within the Mid-Atlantic region where it believes that: (i) barriers to entry (such as zoning restrictions, utility availability, infrastructure limitations, development moratoriums and limited developable land) will create supply constraints on office and industrial space; (ii) current market rents  and absorption statistics justify limited new construction activity; (iii) it can maximize market penetration by accumulating a critical mass of properties and thereby enhance operating efficiencies; and (iv) there is potential for economic growth.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">4</font></p>
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<p align="left"><font face="serif" size="2"><b>Organization</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company was organized and commenced its operations in 1986 as a Maryland real estate investment trust. The Company owns its
assets and conducts its operations through Brandywine Operating Partnership, L.P., a Delaware limited partnership (the &#147;Operating
Partnership&#148;), and subsidiaries of the Operating Partnership. As of December 31, 2002, the Company&#146;s  ownership interest
 in the Operating Partnership entitled it to approximately 94.9% of the Operating Partnership&#146;s distributions after distributions
  by the Operating Partnership to holders of its preferred units. The structure of the Company as an &#147;UPREIT&#148; is designed,
   in part, to permit persons contributing properties (or interests in properties) to the Company to defer some or all of the
    tax liability they might otherwise incur in a sale of properties. The Company conducts its real estate management services
	 through Brandywine Realty Services Corporation (the &#147;Management Company&#148;), a subsidiary of which 95% is owned by the
	  Operating Partnership. The remaining five percent is owed by a partnership comprised of two executives of the Company.
	   See &#147;Management Activities.&#148;</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s executive offices are located at 401
 Plymouth Road, Suite 500, Plymouth Meeting, Pennsylvania 19462 and its telephone number is (610) 325-5600. The Company has an
  internet website at www.brandywinerealty.com.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Credit Facility</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company and the Operating Partnership maintain an unsecured credit facility (the &#147;Credit Facility&#148;) with a bank group (comprising 21 banks) led by Bank of America, N.A. A majority of the Company&#146;s direct and indirect subsidiaries are parties to the Credit Facility as guarantors. The Credit Facility provides up to $500 million in credit availability for working capital  advances and letters of credit. As of December 31, 2002, there was unused availability of $179.4 million under the Credit Facility. The Credit Facility is scheduled to mature in June 2004, but may be extended at the Company&#146;s election for a period of one year upon payment of a fee equal to .25% of the amount of the Credit Facility at the time of extension.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Advances under the Credit Facility currently bear interest at the London Inter-Bank Offered Rate (&#147;LIBOR&#148;) (1.38% at December 31, 2002) plus 1.50%. The spread over LIBOR varies, based on the Company&#146;s leverage, from a low of 1.25% to a high of 1.75%. The Company has the option to elect an interest rate equal to the higher of the Federal Funds rate plus .75% or  Bank of America&#146;s prime rate plus .25%. The Company generally elects the interest rate based on LIBOR for all or most of the borrowings on the Credit Facility. An alternative rate and pricing structure is set forth in the Credit Facility if the Company or the Operating Partnership obtains at least two investment grade debt ratings.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company has entered into interest rate swap and rate cap agreements designed to reduce the impact of interest rate changes on certain variable rate debt. At December 31, 2002, the Company had interest rate swap agreements for notional principal amounts aggregating $175 million. The swap agreements effectively fix the LIBOR portion of the Company&#146;s interest rate  on $100 million of Credit Facility borrowings at 4.230% and $75 million of Credit Facility borrowings at 4.215%, in each case until June 2004. The interest rate cap agreement effectively limits the interest rate on a mortgage with a notional value of $28 million at 8.7% until July 2004.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Credit Facility contains provisions limiting: the incurrence of additional debt; the granting of liens; the consummation of mergers and consolidations; the disposition of certain assets and interests in subsidiaries; the making of certain loans, advances and investments; and the payment of dividends. The restriction on dividends permits the Company to pay dividends in the  amount required for it to retain its qualification as a REIT under the Internal Revenue Code of 1986, and otherwise limits dividends to 90% of the Company&#146;s funds from operations, as defined in the Credit Facility.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">5</font></p>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Credit Facility also contains financial covenants that require the Company to maintain a debt service coverage ratio, an interest coverage ratio, a fixed charge coverage ratio, an unsecured debt ratio and an unencumbered cash flow ratio above certain specified minimum levels; to maintain net worth above an amount determined on a specified formula; and to maintain a  leverage ratio and a secured debt ratio below certain maximum levels. One additional financial covenant limits the percentage of the Company&#146;s total assets (on a consolidated basis) that can be held by subsidiaries not party to the Credit Facility.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Term Loan</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">On July 15, 2002, the Company and the Operating Partnership entered into an unsecured term loan agreement with a group of lenders under which those lenders funded a term loan of $100 million (the &#147;Term Loan&#148;) to the Company and the Operating Partnership. The proceeds of the Term Loan were used to repay existing indebtedness, consisting primarily of indebtedness  that had been outstanding under the Credit Facility. The Term Loan, like the Credit Facility, is recourse to the Company, the Operating Partnership and those subsidiaries that are parties, as guarantors, to the Term Loan agreement (which are the same subsidiaries that are guarantors of the Credit Facility). Bank of America, N.A. serves as administrative agent for a group of lenders  under the Term Loan, as it does for the lenders under the Credit Facility, although the groups of lenders are not identical under the Term Loan and Credit Facility.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">There is no required principal amortization of the Term Loan prior to maturity. The Term Loan matures on July 15, 2005, subject to two extensions of one year each upon payment by the Company of an extension fee and the absence of any defaults at the time of each extension.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Term Loan bears interest at a per annum floating rate equal to the one, two, three or six month LIBOR, plus between 1.05% and 1.90% (1.65% at December 31, 2002), depending on the leverage and debt rating of the Company and the Operating Partnership. At the Company&#146;s option, the Term Loan may bear interest at the prime rate plus .25%. Interest is due at the end  of the LIBOR term, unless a six month LIBOR term is selected, in which case interest is also paid at the end of the third month of the LIBOR term. If the Company elects interest based on the prime rate, then interest payments will be due monthly.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The agreement providing for the Term Loan contains financial and operating covenants identical to those in the agreement establishing the Credit Facility. In addition, the Term Loan agreement, like the Credit Facility agreement, requires payment of prepayment premiums in certain instances.</div></font></p>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">6</font></p>
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<p align="left"><font face="serif" size="2"><b>Additional Debt</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Mortgage Indebtedness. </i>The following table sets forth information regarding the Company&#146;s mortgage indebtedness outstanding at December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"></font><font face="serif" size="1"><b>Principal</b></font><br>
<font face="serif" size="1"><b>Balance</b></font><br>
<font face="serif" size="1"><b>(in 000&#146;s)</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"></font><font face="serif" size="1"><b>Interest</b></font><br><font face="serif" size="1"><b>Rate</b></font><font face="serif" size="1"><b>(a)</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Annual</b></font><br><font face="serif" size="1"><b>Debt</b></font><font face="serif" size="1"><b>Service</b></font><br>
<font face="serif" size="1"><b>(in 000&#146;s)</b></font><br><font face="serif" size="1"><b>(a) (b)</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Maturity</b></font><br><font face="serif" size="1"><b>Date</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Property / Location</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1" width="90" align="left"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">630 Allendale Road (c)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19,797</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.88</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">891</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Mar-03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">400 Berwyn Park (c)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,726</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.98</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">469</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">1009 Lenox Drive</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,728</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.75</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,628</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Lake Ctr II,IV / Wood Falls I, IV /</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Southpoint I,II / Valleybrooke I,II,III</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">57,051</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.80</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,900</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Dec-03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">One &amp; Three Christina, and 10000</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&amp; 15000 Midlantic Drive</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">57,608</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.18</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,916</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Feb-04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">1000 Howard Boulevard</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,090</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9.25</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">803</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Nov-04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Croton Road</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,309</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.81</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">590</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jan-06</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">111 Arrandale Blvd.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,200</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.65</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">150</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Aug-06</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">429 Creamery</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,371</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.30</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">410</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Sep-06</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Interstate Center (a)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,285</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3.19</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">193</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Mar-07</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">440 &amp; 442 Creamery</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,986</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.55</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">631</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-07</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Norriton Office Center</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,409</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">524</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Oct-07</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">481 John Young Way</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,526</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.40</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">261</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Nov-07</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">400 Commerce Drive</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,507</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.12</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,059</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jun-08</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">200 Commerce Drive</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,272</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.12</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">556</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jan-10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Plymouth Meeting Executive Campus</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,033</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.00</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,142</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Dec-10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Arboretum I, II, III &amp; V</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24,498</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.59</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,235</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-11</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">993, 997 and 2000 Lenox Drive,</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;2000, 4000, 9000 Midlantic Drive</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;and 1 Righter Parkway</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,963</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.05</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,325</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Oct-11</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Newtown Square, Berwyn, Libertyview</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.25</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,785</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">May-13</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Southpoint III</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,674</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.75</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">887</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Apr-14</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Grande B (30 properties)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">82,902</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.48</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,444</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Grande A (24 properties)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tranche 1</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,966</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.48</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,317</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tranche 2 (a)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.14</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">428</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tranche 3 (a)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,828</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.31</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">88</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">Jul-27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total mortgage indebtedness</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">597,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50,632</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">For loans that bear interest at a variable rate, the rates in effect at December 31, 2002 have been assumed to remain constant.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(b)</font></td>
    <td><div align="left"><font face="serif" size="2">&#147;Annual Debt Service&#148; is calculated by annualizing the regularly scheduled principal and interest amortization.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(c)</font></td>
    <td><div align="left"><font face="serif" size="2">&#147;Annual Debt Service&#148; for construction loans that require payment of interest only is calculated by annualizing the interest payment based on the outstanding debt balances and rates in effect at December 31, 2002.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Guaranties. </i>As of December 31, 2002, the Company had guaranteed repayment of approximately $2.0 million of loans on behalf of the Real Estate Ventures. See Item 2. Properties &#151; Real Estate Ventures. The Company also guaranteed a $16.2 million loan on behalf of a former Real Estate Venture. Payment under the guaranty, which expires in January 2004, would be  required only in the event of a default on the loan and if and to the extent the collateral for the loan were insufficient to provide for payment in full of the loan. The Company also provides customary environmental indemnities in connection with construction and permanent financing both for its own account and on behalf of its Real Estate Ventures.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Management Activities</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company conducts its third-party real estate management services business through the Management Company, a taxable REIT subsidiary. As of December 31, 2002, the Management Company was managing properties containing an aggregate of approximately 19.0 million net rentable square feet, of which approximately 15.9 million net rentable square feet related to  Properties owned by the Company or subject to purchase options held by the Company, and approximately 3.1 million net rentable square feet related to properties owned by unaffiliated third parties.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">7</font></p>
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<p align="left"><font face="serif" size="2"><b>Geographic Segments</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company currently manages its portfolio within three segments: (1) Pennsylvania, (2) New Jersey and (3) Virginia. (See Note 12 to the Financial Statements.) The Company does not have any foreign operations and its business is not seasonal.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Competition</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The leasing of real estate is highly competitive. The Properties compete for tenants with similar properties primarily on the basis of location, total occupancy costs (including base rent and operating expenses), services provided, and the design and condition of the improvements. The Company also faces competition when attempting to acquire real estate, including  competition from domestic and foreign financial institutions, other REIT&#146;s, life insurance companies, pension funds, partnerships and individual investors.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Employees</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had 231 full-time employees.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Regulations</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Many laws and governmental regulations are applicable to the Company and the Properties and changes in these laws and regulations or their interpretation by agencies and the courts occur frequently. See &#147;Risk Factors &#151; Environmental problems at the Properties are possible and may be costly.&#148;</div></font></p>
<p align="left"><font face="serif" size="2"><b>Availability of SEC Reports</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company files annual reports on Form 10-K, quarterly reports on Form 10-Q and
current reports on Form 8-K and other information with the SEC. Members of the public may read and copy materials that the Company files
 with the SEC at the SEC&#146;s Public Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549. Members of the public may also obtain
  information on the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains an Internet web site that contains
   reports, proxy and information statements and other information regarding issuers, including the Company, that file electronically
    with the SEC. The address of that site is http://www.sec.gov. The Company&#146;s annual reports on Form 10-K,
	 quarterly reports on Form 10-Q and current reports on Form 8-K and other information filed by the Company with the SEC are
	  available, without charge, on the Company&#146;s Internet web site, http://www.brandywinerealty.com, as soon as reasonably
	   practicable after they are filed electronically with the SEC. Copies are also available, without charge, from Secretary,
	    Brandywine Realty  Trust, 401 Plymouth Road, Suite 500, Plymouth Meeting, PA 19462.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Risk Factors</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Private Securities Litigation Reform Act of 1995 provides
 a &#147;safe harbor&#148; for forward-looking statements. Certain information included in this Annual Report on Form 10-K and other
  materials filed by the Company with the Securities and Exchange Commission (as well as information included in oral statements or
   other written statements made or to be made by the  Company) contain statements that are forward-looking, such as statements relating
    to business development and real estate development activities, acquisitions, dispositions, future capital expenditures, financing
	 sources and availability, and the effects of regulation (including environmental regulation) and competition. Although the Company
	  believes that the expectations reflected in  such forward-looking statements are based on reasonable assumptions, it can give no
	   assurance that its expectations will be achieved. As forward-looking statements, these statements involve risks, uncertainties
	    and other factors that could cause actual results to differ materially from the expected results and, accordingly, such results
		 may differ from those expressed in any forward-looking statements made by, or on behalf of, the Company. Factors that could
		  cause actual</div></font></p>
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<p align="left"><font face="serif" size="2">results to differ materially from management&#146;s current expectations include, but are not limited to, changes in
 general economic conditions, changes in local real estate conditions (including changes in rental rates and the number of competing
  properties), changes in the economic conditions affecting industries in which the Company&#146;s principal tenants compete,
   the Company&#146;s failure to  lease unoccupied space in accordance with the Company&#146;s projections, the failure of the Company
    to re-lease occupied space upon expiration of leases, the bankruptcy of major tenants, changes in prevailing interest rates, the
	 unavailability of equity and debt financing, unanticipated costs associated with the acquisition and integration of the
	  Company&#146;s acquisitions, unanticipated costs  to complete and lease-up pending developments, increased costs for,
	   or lack of availability of, adequate insurance, including for terrorist acts, demand for tenant services beyond those
	    traditionally provided by landlords, potential liability under environmental or other laws, the existence of complex
		 regulations relating to the Company&#146;s status as a REIT and to the Company&#146;s  acquisition, disposition and
		  development activities, the adverse consequences of the Company&#146;s failure to qualify as a REIT and the other
		   risks identified in this Annual Report on Form 10-K. The Company assumes no obligation to update or supplement
		    forward-looking statements that become untrue because of subsequent events. The Company refers to itself as
			 &#147;we&#148; or &#147;our&#148; in the  following risk factors.</font></p>
<p align="left"><font face="serif" size="2"><b>Our operations are concentrated in the Mid-Atlantic region, and our operational and
 financial performance depend on the economies in the markets in which we have a presence; changes in such markets may adversely
  affect our financial condition.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Our Properties are located in suburban markets in Pennsylvania, New Jersey, Virginia and Delaware. Like other real estate markets, these markets have experienced economic downturns in the past, and they are currently experiencing a downturn similar to the broader economic slowdown in the U.S. Such slowdowns can lead companies to lay off employees, which might  cause them to require less office space. They can also result in companies experiencing difficulty with their cash flow, which might cause them to delay or miss making their lease payments or to declare bankruptcy. Furthermore, the sluggish climate might affect the timing of lease commitments by new tenants or of lease renewals by existing tenants as such parties delay or defer their  leasing decisions to get the most current information possible about trends in their businesses or industries. A prolonged decline in the economies of these real estate markets could adversely affect our operations or cash flow and ability to make distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Financially distressed tenants may reduce our cash flow.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We cannot assure you that any tenant that files for bankruptcy protection will continue to pay us rent. A bankruptcy filing by or relating to one of our tenants or a lease guarantor would bar all efforts by us to collect pre-bankruptcy debts from that tenant or the lease guarantor, or their property, unless we receive an order permitting us to do so from the bankruptcy court. A  tenant or lease guarantor bankruptcy could delay our efforts to collect past due balances under the relevant leases, and could ultimately preclude collection of these sums. If a lease is assumed by the tenant in bankruptcy, all pre-bankruptcy balances due under the lease must be paid to us in full. However, if a lease is rejected by a tenant in bankruptcy, we would have only a general  unsecured claim for damages. Any unsecured claim we hold may be paid only to the extent that funds are available and only in the same percentage as is paid to all other holders of unsecured claims, and there are restrictions under bankruptcy laws that limit the amount of the claim we can make if a lease is rejected. As a result, it is likely that we will recover substantially less than  the full value of any unsecured claims we hold. For additional detail on tenant credit risk, see Item 7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations &#151; Tenant Credit Risk.</div></font></p>
<p align="left"><font face="serif" size="2"><b>We may be unable to renew leases or relet space as leases expire.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">If tenants do not to renew their leases upon expiration, we may be unable to relet the subject space. Even if the tenants do renew their leases or we can relet the space, the terms of renewal or reletting (including the cost of required renovations) may be less favorable than current lease terms. Certain leases grant the tenants an early termination right upon payment of a  termination penalty. For additional detail on the risk of non-renewal of expiring leases, see Item 7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations &#151; Tenant Rollover Risk.</div></font></p>
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<p align="left"><font face="serif" size="2"><b>New development and acquisitions may not produce results in accordance with our expectations and may require development and renovation costs exceeding our estimates.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Once made, our investments may not produce results in accordance with our expectations. Our actual renovation and improvement costs in bringing an acquired property up to market standards may exceed our estimates.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In addition, we are active in developing and redeveloping office properties. Risks associated with these activities include:</div></font></p>
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    <td><div align="left"><font face="serif" size="2">the unavailability of favorable financing, including permanent financing to repay construction financing;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">construction costs exceeding original estimates;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">construction and lease-up delays resulting in increased debt service and construction costs;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">complications (including building moratoriums and anti-growth legislation) in obtaining necessary zoning, occupancy and other governmental permits; and</font></div></td>
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    <td><div align="left"><font face="serif" size="2">insufficient occupancy levels and rental rates at a newly completed property causing the property to be unprofitable.</font></div></td>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">For additional detail on development risks, see Item 7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations &#151; Development Risk.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Some potential losses are not covered by insurance.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We carry comprehensive liability, fire, extended coverage and rental loss insurance on all of our Properties. We believe the policy specifications and insured limits of these policies are adequate and appropriate. There are, however, types of losses, such as lease and other contract claims and acts of war, that generally are not insured. Some of our existing insurance policies  expire in July 2003. We cannot be assured that we will be able to renew insurance coverage in an adequate amount or at reasonable prices. In addition, insurance companies may no longer offer coverage against certain types of losses, such as losses due to terrorist acts and mold, or, if offered, these types of insurance may be prohibitively expensive. Should an uninsured loss or a loss  in excess of insured limits occur, we could lose all or a portion of the capital we have invested in a Property, as well as the anticipated future revenue from the Property. In such an event, we might nevertheless remain obligated for any mortgage debt or other financial obligations related to the Property. We cannot be assured that material losses in excess of insurance proceeds will not  occur in the future. If any of our Properties were to experience a catastrophic loss, it could seriously disrupt our operations, delay revenue and result in large expenses to repair or rebuild the Property. Such events could adversely affect our cash flow and ability to make distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Because real estate is illiquid, we may not be able to sell Properties when appropriate.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Real estate investments generally cannot be sold quickly. We may not be able to vary our portfolio promptly in response to economic or other conditions. In addition, the Internal Revenue Code of 1986 (the &#147;Code&#148;) limits our ability to sell properties held for fewer than four years. Furthermore, Properties that we acquired in exchange for units in the Operating Partnership  often have a low tax basis. If we were to dispose of any of these Properties in a taxable transaction, we may be required to distribute a significant amount of the taxable gain to our security holders under the requirements of the Internal Revenue Code of 1986 applicable to REITs and this could, in turn, impact our cash flow and ability to make distributions to shareholders. In addition,  purchase options and rights of first refusal held by certain tenants or partners in Real Estate Ventures may also limit our ability to sell certain properties. Any of these factors could</div></font></p>
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<p align="left"><font face="serif" size="2">adversely affect our cash flow and ability to make distributions to shareholders as well as the ability of someone to purchase us, even if a purchase were in our shareholders&#146; best interests.</font></p>
<p align="left"><font face="serif" size="2"><b>We have agreed not to sell certain of our Properties.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We have agreed with the former owners of 67 of our Properties aggregating approximately 4.5 million net rentable square feet not to sell these Properties for
 varying periods of time in transactions that would trigger taxable income to the former owners, subject to certain exceptions. Some of these
  agreements are with affiliates of current trustees of our company. In addition,  we may enter into similar agreements with sellers of
   Properties acquired by us in the future. These agreements generally provide that we may dispose of the applicable Properties in
    transactions that qualify as tax-free exchanges under Section 1031 of the Code or in other tax deferred transactions. Such transactions can
	 be difficult and result in the property acquired in exchange for the  disposed of property inheriting the tax attributes (including
	  tax protection covenants) of the disposed of property. Without suffering adverse financial consequences, we may be precluded from
	   selling certain Properties other than in transactions that would qualify as tax-free exchanges for federal income tax purposes.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Our operating costs might rise, which might reduce our profitability and have an adverse effect
 on our cash flow and our ability to make distributions to shareholders.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We might face higher operating expenses as a result of rising costs
 generally and following the terrorist attacks in the U.S. on September 11, 2001 in particular. For example, it might cost more in the future than in the past for building security, property/casualty and liability insurance, and property maintenance. Following the September 11th attacks, we have increased the  level of security at our Properties. We might not be able to pass along the increased costs associated with such increased building security to our tenants, which could reduce our profitability and cash flow. Some of our existing insurance policies expire in July 2003. As a result of the terrorist attacks and other market conditions, the cost of premiums for comparable coverage might be  significantly higher when it is time to renew our coverage, which could increase our operating expenses and reduce our profitability and our cash flow. Because of rising costs in general, we might experience increases in our property maintenance costs, such as for cleaning, electricity, and heating, ventilation and air conditioning. In general, under our leases with tenants, we pass on a  portion of these costs to them. We cannot be assured, however,
  that tenants will actually bear the full burden of these higher costs, or that such increased costs will not lead them, or other prospective
   tenants, to seek office space elsewhere. If operating expenses increase, the availability of other comparable office space in our specific
    geographic markets might limit our ability to  increase rents, which could reduce our profitability (if operating expenses increase without
	 a corresponding increase in revenues) and limit our ability to make distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><b>We face significant competition from other real estate developers.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We compete with real estate developers, operators and institutions for tenants and acquisition and development opportunities. Some of these competitors have significantly greater financial resources than we do. Such competition may reduce the number of suitable investment opportunities offered to us, interfere with our ability to attract and retain tenants and may increase  vacancies, which increases supply and lowers market rental rates, reduces our bargaining leverage and adversely affects our ability to improve our operating leverage. We cannot be assured that this competition will not adversely affect our cash flow and ability to make distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Our ability to make distributions is subject to various risks.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We have been paying quarterly distributions to our shareholders. Our ability to make distributions in the future will depend upon:</div></font></p>
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    <td><div align="left"><font face="serif" size="2">the operational and financial performance of our Properties;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">capital expenditures with respect to existing and newly acquired Properties;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">the amount of, and the interest rates on, our debt; and</font></div></td>
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    <td><div align="left"><font face="serif" size="2">the absence of significant expenditures relating to environmental and other regulatory matters.</font></div></td>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Certain of these matters are beyond our control and any significant difference between our expectations and actual results could have a material adverse effect on our cash flow and our ability to make distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Changes in the law may adversely affect our cash flow.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Because increases in income and service taxes are generally not passed through to tenants under leases, such increases may adversely affect our cash flow and ability to make expected distributions to shareholders. The Properties are also subject to various regulatory requirements, such as those relating to the environment, fire and safety. Our failure to comply with these  requirements could result in the imposition of fines and damage awards. Also, the costs to comply with any new or different regulations could adversely affect our cash flow and our ability to make distributions. While we believe that the Properties are currently in material compliance with all such requirements, we cannot be assured that these requirements will not change or that  newly imposed requirements will not require significant unanticipated expenditures.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Our indebtedness subjects us to additional risks.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Debt Financing and Existing Debt Maturities. </i>Like other real estate companies, we are subject to risks normally associated with debt financing, such as the insufficiency of cash flow to meet required debt service payment obligations and the inability to refinance existing indebtedness. If our debt cannot be paid, refinanced or extended at maturity, in addition to our failure to  repay our debt, we may not be able to make distributions to shareholders at expected levels or at all. Furthermore, an increase in our interest expense could adversely affect our cash flow and ability to make distributions to shareholders. If we do not meet our debt service obligations, any Properties securing such indebtedness could be foreclosed on, which would have a material  adverse effect on our cash flow and ability to make distributions and, depending on the number of Properties foreclosed on, could threaten our continued viability.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Risk of Rising Interest Rates and Variable Rate Debt. </i>Increases in interest rates on variable rate indebtedness would increase our interest expense, which could adversely affect our cash flow and ability to make distributions to shareholders. As of December 31, 2002, outstanding borrowings of approximately $264.6 million bear interest at variable rates.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>No Limitation on Debt. </i>Our organizational documents do not contain any limitation on our ability to incur additional debt. Accordingly, subject to limitations in our credit facilities, we could increase our outstanding debt without restriction. The increased debt service could adversely affect our cash flow and ability to make distributions and could increase the risk of default  on our indebtedness.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Environmental problems at the Properties are possible and may be costly.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Federal, state and local laws, ordinances and regulations may require a current or previous owner or operator of real estate to investigate and clean up hazardous or toxic substances or releases at such property. The owner or operator may be forced to pay for property damage and for investigation and clean-up costs incurred by others in connection with environmental  contamination. Such laws typically impose clean-up responsibility and liability without regard to whether the owner or operator knew of or caused the presence of the contaminants. Even if more than one person may have been responsible for the contamination, each person covered by the environmental laws may be held responsible for all of the clean-up costs incurred. In addition,  third parties may sue the owner or operator of a site for damages and costs resulting from environmental contamination emanating from that site. These costs may be substantial</div></font></p>
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<p align="left"><font face="serif" size="2">and the presence of such substances may adversely affect the owner&#146;s ability to sell or rent such property or to borrow using such property as collateral.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Environmental laws that govern the presence, maintenance and removal of asbestos require that owners or operators of buildings containing asbestos properly manage and maintain the asbestos, notify and train those who may come into contact with asbestos and undertake special precautions, including removal or other abatement, if asbestos would be disturbed during  renovation or demolition of a building. Such laws may impose fines and penalties on building owners or operators who fail to comply with these requirements and may allow third parties to seek recovery from owners or operators for personal injury associated with exposure to asbestos fibers.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Independent environmental consultants have conducted a standard Phase I or similar general environmental site assessment (&#147;ESA&#148;) of each of our Properties to identify
 potential sources of environmental contamination and assess environmental regulatory compliance. For a number of the Properties, the
  Phase I ESA either referenced a prior Phase II ESA obtained on such  Property or prompted us to have a Phase II ESA of such Property
   conducted. A Phase II ESA generally involves invasive procedures, such as soil sampling and testing or the installation and monitoring
    of groundwater wells. While the ESAs conducted have identified environmental contamination on a few of the Properties, they have not
	 revealed any environmental contamination,  liability or compliance concern that we believe would have a material adverse effect
	  on our cash flow or ability to make distributions to shareholders. It is possible that the existing ESAs relating to the
	   Properties do not reveal all environmental contaminations, liabilities or compliance concerns which currently exist, and it
	    is also possible that the cost of remediating identified  contamination may exceed current estimates. In addition, future
		 properties which we acquire may be subject to environmental conditions.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">While we have an ongoing maintenance program in place to address indoor air quality, inquiries about indoor air quality may necessitate special investigation and, depending on the results, remediation. Indoor air quality issues can stem from inadequate ventilation, chemical contaminants from indoor or outdoor sources, and biological contaminants such as molds, pollen,  viruses and bacteria. Indoor exposure to chemical or biological contaminants above certain levels can be alleged to be connected to allergic reactions or other health effects and symptoms in susceptible individuals. If these conditions occur at one of our Properties, we may need to undertake a targeted remediation program, including without limitation, steps to increase indoor  ventilation rates and eliminate sources of contaminants. Such remediation programs are costly and could necessitate the temporary relocation of some or all of the property&#146;s tenants or require rehabilitation of the affected property.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Americans with Disabilities Act compliance could be costly.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Under the Americans with Disabilities Act of 1990 (&#147;ADA&#148;), all public accommodations and commercial facilities must meet certain federal requirements related to access and use by disabled persons. Compliance with the ADA requirements could involve removal of structural barriers from certain disabled persons&#146; entrances. Other federal, state and local laws may require  modifications to or restrict further renovations of our Properties with respect to such accesses. Although we believe that our properties are substantially in compliance with present requirements, noncompliance with the ADA or related laws or regulations could result in the United States government imposing fines or private litigants being awarded damages against us. Such costs may  adversely affect our cash flow and ability to make distributions.</div></font></p>
<p align="left"><font face="serif" size="2"><b>By holding Properties through the Operating Partnership and various joint ventures, we are exposed to additional risks.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We own the Properties and interests in Real Estate Ventures through the Operating Partnership. In the future, we expect to continue to participate with other entities in property ownership through joint ventures or partnerships. Partnership or joint venture investments may involve risks not otherwise present in direct investments. Such risks include:</div></font></p>
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    <td><div align="left"><font face="serif" size="2">the potential bankruptcy of our partners or co-venturers;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">a conflict between our business goals and those of our partners or co-venturers; and</font></div></td>
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    <td><div align="left"><font face="serif" size="2">actions taken by our partners or co-venturers contrary to our instructions or objectives.</font></div></td>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">There is no limitation under our organizational documents as to the amount of funds which we may invest in partnerships or joint ventures.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Our status as a REIT is dependent on compliance with federal income tax requirements.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Our failure to qualify as a REIT would have serious adverse consequences to our shareholders. </i>We believe that since 1986, we have qualified for taxation as a REIT for
 federal income tax purposes. We plan to continue to meet the requirements for taxation as a REIT. Many of these requirements are highly technical
  and complex. The determination that we are a REIT  requires an analysis of various factual matters and circumstances that may not be totally
   within our control. For example, to qualify as a REIT, at least 95% of our gross income must come from certain sources that are itemized
    in the REIT tax laws. We are also required to distribute to shareholders at least 90% of our REIT taxable income (excluding net capital
	 gains). The fact that  we hold our assets through the Operating Partnership and its subsidiaries further complicates the application
	  of the REIT requirements. Even a technical or inadvertent mistake could jeopardize our REIT status. Furthermore, Congress and the
	   IRS might change the tax laws and regulations, and the courts might issue new rulings that make it more difficult, or impossible,
	    for us to remain  qualified as a REIT. We do not believe, however, that any pending or proposed tax law changes would jeopardize
		 our REIT status.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">To maintain REIT status, a REIT may not own more than 10% of the stock of any corporation, except for a qualified REIT subsidiary (which must be wholly-owned by the REIT), taxable REIT subsidiary or another REIT.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">If we fail to qualify as a REIT, we would be subject to federal income tax at regular corporate rates. Also, unless the IRS granted us relief under certain statutory provisions, we would remain disqualified as a REIT for four years following the year we first failed to qualify. If we failed to qualify as a REIT, we would be required to pay significant income taxes and would,  therefore, have less money available for investments or for distributions to shareholders. This would likely have a material adverse effect on the value of our securities. In addition, we would no longer be required to make any distributions to shareholders.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>In order to make the distributions required to maintain our REIT status, we may need to borrow funds. </i>To obtain the favorable tax treatment associated with REIT qualification, we generally will be required to distribute to shareholders at least 90% of our annual REIT taxable income (excluding net capital gains). In addition, we will be subject to tax on our undistributed net  taxable income and net capital gain and a 4% nondeductible excise tax on the amount, if any, by which certain distributions paid by us with respect to any calendar year are less than the sum of 85% of ordinary income plus 95% of capital gain net income for the calendar year, plus certain undistributed amounts from prior years.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We intend to make distributions to shareholders to comply with the distribution provisions of the Code and to avoid income and other taxes. Our income will consist primarily of our share of the income of the Operating Partnership and our cash flow will consist primarily of our share of distributions from the Operating Partnership. Differences in timing between the receipt of  income and the payment of expenses in arriving at taxable income (of the Company or the Operating Partnership) and the effect of required debt amortization payments could require us to borrow funds on a short-term basis or to liquidate funds on adverse terms to meet the REIT qualification distribution requirements.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Failure of the Operating Partnership (or a subsidiary partnership) to be treated as a partnership would have serious adverse consequences to our shareholders. </i>If the IRS were to successfully challenge the tax status of the Operating Partnership or any of its subsidiary partnerships for federal income tax purposes, the</div></font></p>
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<p align="left"><font face="serif" size="2">Operating Partnership or the affected subsidiary partnership would be taxable as a corporation. In such event, we would cease to qualify as a REIT and the imposition of a corporate tax on the Operating Partnership or a subsidiary partnership would reduce the amount of cash available for distribution from such partnership to us and our shareholders.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>We do pay some taxes. </i>Even if we qualify as a REIT, we are required to pay certain federal, state and local taxes on our income and Properties. In addition, the Management Company is subject to federal, state and local income tax at regular corporate rates on its net taxable income derived from its management, leasing and related service business. If we have net income  from a prohibited transaction, such income will be subject to a 100% tax.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>We own a subsidiary REIT. </i>One of our subsidiaries, Atlantic American Properties Trust (&#147;AAPT&#148;), that indirectly holds 22 of the Properties, elected to be taxed as a REIT for the year ended December 31, 1997. So long as we seek to maintain AAPT&#146;s REIT status, AAPT will be subject to all the requirements and risks associated with maintaining REIT status summarized  above, including the limitation on the ownership of more than 10% of the securities of any corporation (other than a qualified REIT subsidiary, taxable REIT subsidiary or another REIT).</div></font></p>
<p align="left"><font face="serif" size="2"><b>We are dependent upon our key personnel.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We are dependent upon the efforts of our executive officers, particularly Gerard H. Sweeney. The loss of Mr. Sweeney&#146;s services could have an adverse affect on our operations and would entitle the banks under our Credit Facility to accelerate the amounts due thereunder. Although we have an employment agreement with Mr. Sweeney for a term extending to May 7, 2005,  this agreement does not restrict his ability to become employed by a competitor following the termination of his employment with us. We do not have keyman life insurance coverage for Mr. Sweeney.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Certain limitations exist with respect to a third party&#146;s ability to acquire us or effectuate a change in control.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Limitations imposed to protect our REIT status. </i>In order to protect us against loss of our REIT status, our Declaration of Trust limits any shareholder from owning more than 9.8% in value of our outstanding shares, subject to certain exceptions. The ownership limit may have the effect of precluding acquisition of control of the Company. If anyone acquires shares in excess  of the ownership limit, we may:</div></font></p>
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    <td><div align="left"><font face="serif" size="2">not reflect the transaction on our books;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">institute legal action to stop the transaction;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">not pay dividends or other distributions with respect to those shares;</font></div></td>
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    <td><div align="left"><font face="serif" size="2">not recognize any voting rights for those shares; and</font></div></td>
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    <td><div align="left"><font face="serif" size="2">consider the shares held in trust for the benefit of a person to whom such shares may be transferred.</font></div></td>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Limitation due to our ability to issue preferred shares. </i>Our Declaration of Trust authorizes the Board of Trustees to issue preferred shares. The Board of Trustees may establish the preferences and rights of any preferred shares issued which could have the effect of delaying or preventing someone from taking control of us, even if a change in control were in our shareholders&#146;  best interests.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Limitations imposed by the Maryland Business Combination Law. </i>The Maryland General Corporation Law, as applicable to Maryland real estate investment trusts, establishes special restrictions against</div></font></p>
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<p align="left"><font face="serif" size="2">&#147;business combinations&#148; between a Maryland real estate investment trust and &#147;interested shareholders&#148; or their affiliates unless an exemption is applicable. An interested
 shareholder includes a person who beneficially owns, and an affiliate or associate of the trust who, at any time within the two-year period
  prior to the date in question, was the beneficial owner of, ten percent or more  of the voting power of our then-outstanding voting
   shares. Among other things, the law prohibits (for a period of five years) a merger and certain other transactions between the trust
    and an interested shareholder unless the Board of Trustees approved the transaction before the party became an interested shareholder.
	 The five-year period runs from the most recent date on which the  interested shareholder became an interested shareholder. Thereafter,
	  any such business combination must be recommended by the Board of Trustees and approved by two super-majority shareholder votes unless,
	   among other conditions, the trust&#146;s common shareholders receive a minimum price for their shares and the consideration is received
	    in cash or in the same form as previously  paid by the interested shareholder for its shares or unless the Board of Trustees approved
		 the transaction before the party in question became an interested shareholder. The business combination statute could have the effect
		  of discouraging offers to acquire us and of increasing the difficulty of consummating any such offers, even if our acquisition would
		   be in our shareholders&#146; best  interests. We have exempted any business combination involving Safeguard Scientifics, Inc.,
		    the Commonwealth of Pennsylvania State Employees&#146; Retirement System and a voting trust established for its benefit, Morgan
			 Stanley Asset Management Inc. and two funds managed by it, Lazard Freres Real Estate Investors, L.L.C., Five Arrows Realty
			  Securities III L.L.C., Gerard H.  Sweeney (the Company&#146;s President and Chief Executive Officer) and any of their respective
			   affiliates or associates.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><i>Maryland Control Share Acquisition Act. </i>Maryland law provides that &#147;control shares&#148; of a real estate investment trust acquired in a &#147;control share
 acquisition&#148; shall have no voting rights except to the extent approved by a vote of two-thirds of the vote eligible to be cast
  on the matter under the Maryland Control Share Acquisition Act. &#147;Control Shares&#148; means shares that, if  aggregated with
   all other shares previously acquired by the acquirer, would entitle the acquirer to exercise voting power in electing trustees within
    one of the following ranges of voting power: one-tenth or more but less than one-third, one-third or more but less than a majority
	or a majority or more of all voting power. A &#147;control share acquisition&#148; means the acquisition of control  shares,
	 subject to certain exceptions. If voting rights or control shares acquired in a control share acquisition are not approved
	  at a shareholder&#146;s meeting, then subject to certain conditions and limitations the issuer may redeem any or all of the
	   control shares for fair value. If voting rights of such control shares are approved at a shareholder&#146;s meeting and the
	    acquirer becomes entitled  to vote a majority of the shares entitled to vote, all other shareholders may exercise appraisal
		 rights. Any control shares acquired in a control share acquisition which are not exempt under our bylaws will be subject
		  to the Maryland Control Share Acquisition Act.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Many factors can have an adverse effect on the market value of our securities.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Like any publicly traded company, a number of factors might adversely affect the price of our securities, many of which are beyond our control. These factors include:</div></font></p>
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    <td><div align="left"><font face="serif" size="2">Increases in market interest rates, relative to the dividend yield on our shares. If market interest rates go up, prospective purchasers of our securities may require a higher yield. Higher market interest rates would not, however, result in more funds for us to distribute and, to the contrary, would likely increase our borrowing costs and potentially decrease funds available for distribution. Thus, higher market interest rates could cause the market price of our common shares to go down.</font></div></td>
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    <td><div align="left"><font face="serif" size="2">Anticipated benefit of an investment in our securities as compared to investment in securities of companies in other industries (including benefits associated with tax treatment of dividends and distributions).</font></div></td>
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    <td><div align="left"><font face="serif" size="2">Perception by market professionals of REITs generally and REITs comparable to us in particular.</font></div></td>
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    <td><div align="left"><font face="serif" size="2">Perception by market participants of our potential for payment of cash distributions and for growth.</font></div></td>
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    <td><div align="left"><font face="serif" size="2">Level of institutional investor interest in our securities.</font></div></td>
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    <td><div align="left"><font face="serif" size="2">Relatively low trading volumes in securities of REITs.</font></div></td>
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<p align="left"><font face="serif" size="2"><b>The issuance of preferred securities may adversely affect the rights of holders of Common Shares.</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Because the Board of Trustees has the power to establish the preferences and rights of each class or series of Preferred Shares, it may afford the holders in any series or class of preferred shares preferences, distributions, powers and rights, voting or otherwise, senior to the rights of holders of Common Shares. The Board of Trustees also has the power to establish the  preferences and rights of each class or series of units in the Operating Partnership, and may afford the holders in any series or class of preferred units preferences, distributions, powers and rights, voting or otherwise, senior to the rights of holders of common units.</div></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p17a"></a>Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Properties</b></font></p>
<p align="left"><font face="serif" size="2"><b>Operating Property Acquisitions</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company acquired the following operating properties during the year ended December 31, 2002:</div></font></p>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Net</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Month of</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b># of</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Rentable</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Investment</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Acquisition</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Property/Portfolio Name</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Location</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Buildings</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Square Feet</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><i><b>(in thousands)</b></i></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="24%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="16%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Office:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>

     <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1" width="40" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Mar-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">Plymouth Meeting
    Exec. Campus</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">Plymouth Meeting, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">360,250</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">67,165</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">May-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">6802 Paragon Place</font></td>
    <td align="left" valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">Richmond, VA</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right"><font face="serif" size="2">1</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">142,499</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,800</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Jul-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">1000 Lenox Drive</font></td>
    <td align="left" valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">Lawrenceville, NJ</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right"><font face="serif" size="2">&nbsp;1</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,264</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,275</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Sep-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">980 Harvest Drive</font></td>
    <td align="left" valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">Whitpain, PA</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right"><font face="serif" size="2">&nbsp;1</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,379</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,400</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left"><font face="serif" size="2">Total Office Property Acquisitions</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;7</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">617,392</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;97,640</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company acquired one parcel of land, containing 9.0 acres, for $1.5 million. In addition, the Company purchased the remaining partnership interests held by third parties in three of the Company&#146;s Real Estate Ventures which owned two office properties containing 222,000 net rentable square feet and one parcel of land containing 1.0 acres for $2.3 million.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Development Properties Placed in Service</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company placed in service the following properties during the year ended December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Net</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Date Placed</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b># of</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Rentable</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Investment</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>

  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>in Service</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Property/Portfolio Name</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Location</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Buildings</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Square Feet</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><i>(in thousands)</i></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="24%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="16%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Office:</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>

    <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1" width="40" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>



  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Feb-02</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Newtown Commons</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td width="8%" valign="bottom"><font face="serif" size="2">Newtown, PA</font></td>
    <td align="right" valign="bottom" width="2%">&nbsp;</td>
    <td width="1%">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">102,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,945</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Apr-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">15 Campus Boulevard</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Newtown Square, PA</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,231</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">Total Office Properties Placed in Service</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">152,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24,176</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company places properties under development in service once a property reaches 95% occupancy or one year after the completion of shell construction, whichever is earlier.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">17</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p18"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><b>Property Sales and Dispositions</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company sold or disposed of the following properties during the year ended December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Sales/Disposition</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Sale</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b># of</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Rentable</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Price</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Date</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Property/Portfolio Name</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Location</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b> Bldgs.</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b> Square Feet</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b><i>(in 000&#146;s)</i></b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
    <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="24%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="16%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><hr noshade size="1"></td>
    <td width="8%"><hr noshade size="1"></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Office:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>

    <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1" width="40" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>



  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Feb-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Bucks County Portfolio</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Bucks County, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">179,131</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,080</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Feb-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">155 Rittenhouse Circle</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Bucks County, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,500</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,913</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Mar-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">470 John Young Way</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Exton, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,085</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,850</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Mar-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Park 80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Saddlebrook, NJ</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">487,740</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,350</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Apr-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Harvest</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">195,649</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,906</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Apr-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">16 Campus Boulevard</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Newtown Square, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">65,463</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,105</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Apr-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Jericho</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">103,091</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,084</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Jul-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">University Plaza and Linden
        Hill</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Newark, DE</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">288,049</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,748</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">Total Office Properties Sold</font></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,356,708</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">148,036</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Industrial:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>

      <tr valign="top" bgcolor="#ffffff">
    <td><font size="2"><hr noshade size="1" width="60" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Feb-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;8 Engineers Lane</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Farmingdale, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">865</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Feb-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;Bucks County Portfolio</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Bucks County, PA</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">586,756</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24,835</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Apr-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;Harvest</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">79,152</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,690</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Jun-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;Plainview</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">137,060</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,760</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Jun-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;19 Engineers Lane</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">630</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Jun-02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;91 North Industry Court</font></td>
    <td valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">Long Island, NY</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">71,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,272</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;Total Industrial Properties Sold</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">20</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">898,968</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">42,052</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;Total Properties Sold</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">43</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,255,676</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">190,088</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company sold two parcels of land, containing 12.8 acres, for $.7 million.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Properties</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company owned 210 office properties, 27 industrial facilities and one mixed-use property that contained an aggregate of approximately
 16.1 million net rentable square feet. The properties are located in the markets in and surrounding Philadelphia, Pennsylvania;
  New Jersey; and Richmond, Virginia. As of December 31, 2002, the Properties  were approximately 91.0% leased to 1,143 tenants
   and had an average age of approximately 17.4 years. The office Properties are primarily one to three story suburban office
    buildings containing an average of approximately 67,450 net rentable square feet. The industrial Properties accommodate a
	 variety of tenant uses, including light manufacturing, assembly, distribution and  warehousing. The Company carries
	  comprehensive liability, fire, extended coverage and rental loss insurance covering all of the Properties, with policy
	   specifications and insured limits which the Company believes are adequate.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company currently has in development or redevelopment
 three sites aggregating 428,000 square feet. The total cost of these projects is estimated to be $83.7 million, of which $73.9
  million was incurred as of December 31, 2002. As of December 31, 2002, the Company owned approximately 444 acres of undeveloped
   land and held options to purchase approximately 63  additional acres. The Company also holds an option to enter into a long-term
    ground lease of property adjacent to Amtrak&#146;s 30th Street Station in Philadelphia and develop a high-rise office property
	 on the leasehold interest.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table sets forth certain information with
 respect to the Properties at December 31, 2002:</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">18</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p19"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="top">
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">&nbsp;&nbsp;Property
    Name</font></strong></td>
<td align="center"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Location</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">State</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Year<br>
  Built</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif"> Net<br>
Rentable<br>
Square<br>
Feet </font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Percentage<br>
Leased as of<br>
December 31,<br>
2002 (a)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif"> Total Base Rent<br>
for the Twelve<br>
Months Ended<br>
December 31,<br>
2002 (b) (000&#146;s)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">Average<br>
Annualized<br>
Rental Rate<br>
as of<br>
December 31,<br>
2002 (c)</font></strong></td>
</tr>
<tr valign="top">
  <td colspan="2" align="left"><hr size="1" noshade></td>
  <td align="center">&nbsp;</td>
  <td colspan="5" align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  </tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="right">&nbsp;</td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">&nbsp;</td>
<td align="right">&nbsp;</td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td colspan="2"align="left"><font size="1" face="serif"><b>PENNSYLVANIA SEGMENT</b></font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td width="3%" align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100-300 Gundy Drive</font></td>
<td width="3%" align="center"><font size="1" face="serif">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Reading</font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">PA</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">1970</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">          439,167 </font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">97.9</font></td>
<td width="2%" align="left"><font size="1" face="serif">%</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="center"><font size="1" face="serif"> $</font></td>
<td width="8%" align="right"><font size="1" face="serif">                 7,008 </font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="center"><font size="1" face="serif"> $</font></td>
<td width="8%" align="right"><font size="1" face="serif">           15.29 </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Philadelphia Marine Center</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">Philadelphia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Various</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          181,900 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,228 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">3.30</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Corporate Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Camp Hill</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          175,280 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,391 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.03</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">111 Presidential Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Bala Cynwyd</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          173,095 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">94.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    4,382 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">29.74</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">751-761 Fifth Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1967</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          158,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       492 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">3.12</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">630 Allendale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2000</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          150,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,654 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.60</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">640 Freedom Business Center</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          132,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">72.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,001 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.53</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Katchel Blvd</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Reading</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1970</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          131,082 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,935 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.63</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">52 Swedesford Square</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">East Whiteland Twp.</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          131,017 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,862 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.65</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">105 / 140 Terry Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          128,666 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,553 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">13.80</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7535 Windsor Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          128,061 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">52.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       949 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.25</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">101 Lindenwood Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Malvern</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          118,121 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">96.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,646 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.42</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">501 Office Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Fort Washington</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1974</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          114,805 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">73.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,910 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.55</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7130 Ambassador Drive </font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          114,049 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       559 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.16</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7350 Tilghman Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          111,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,975 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.69</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Berwyn Park</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          109,919 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,105 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.69</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">50 Swedesford Square</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">East Whiteland Twp.</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          109,800 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,928 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.59</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">920 Harvest Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Blue Bell</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          104,505 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,888 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.50</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">442 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          104,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       580 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.79</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Brandywine Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2002</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          102,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,458 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.80</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">500 Office Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Fort Washington</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1974</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          101,303 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,906 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.23</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7450 Tilghman Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          100,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,723 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.71</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">301 Lindenwood Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Malvern</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            97,624 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">68.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,621 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.41</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">555 Croton Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1999</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            96,909 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,875 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">31.12</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">500 North Gulph Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1979</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            93,082 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">59.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,212 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.38</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">620 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            90,169 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,838 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.92</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">610 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            90,152 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,878 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">28.37</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">630 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            89,925 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">92.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,756 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.67</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">600 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            89,681 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">92.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,865 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.55</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">630 Freedom Business Center</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            86,683 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">94.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,908 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.03</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">620 Freedom Business Center</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            86,559 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       671 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">28.39</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1200 Swedsford Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1994</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            86,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,589 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.32</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">3331 Street Road -Greenwood Square</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Bensalem</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            81,575 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,533 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.85</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1050 Westlakes Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            81,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">88.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,275 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">29.10</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">One Progress Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            79,204 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       833 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">11.65</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">323 Norristown Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lower Gwyned</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            79,083 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">10.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       851 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1060 First Avenue</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            77,718 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,756 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.19</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">741 First Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1966</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            77,184 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       557 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.28</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1040 First Avenue</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            75,488 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,959 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">29.58</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Berwyn Park</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            75,025 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">76.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,455 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">27.70</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1020 First Avenue</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            74,556 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,412 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.02</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000 First Avenue</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            74,139 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,777 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.85</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">160 - 180 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">East Norriton</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            73,242 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">78.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,248 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.15</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">436 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            72,300 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">81.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       624 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">12.59</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">14 Campus Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown Square</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1998</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            69,400 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">80.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       847 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.79</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1105 Berkshire Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Reading</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            68,985 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,019 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.09</font></td>
</tr></table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"><a name="p?"></a></div>
<page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<br><br><table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="top">
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">&nbsp;&nbsp;Property
    Name</font></strong></td>
<td align="center"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Location</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">State</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Year<br>
  Built</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif"> Net<br>
Rentable<br>
Square<br>
Feet </font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Percentage<br>
Leased as of<br>
December 31,<br>
2002 (a)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif"> Total Base Rent<br>
for the Twelve<br>
Months Ended<br>
December 31,<br>
2002 (b) (000&#146;s)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">Average<br>
Annualized<br>
Rental Rate<br>
as of<br>
December 31,<br>
2002 (c)</font></strong></td>
</tr>
<tr valign="top">
  <td colspan="2" align="left"><hr size="1" noshade></td>
  <td align="center">&nbsp;</td>
  <td colspan="5" align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  </tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">500 Enterprise Road</font></td>
<td width="3%" align="center"><font size="1" face="serif">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Horsham</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">PA</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">1990</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">            66,751 </font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">100.0</font></td>
<td width="2%" align="left"><font size="1" face="serif">%</font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">                       935 </font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">19.13</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">925 Harvest Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Blue Bell</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            63,663 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">96.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,225 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.97</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>

<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">429 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1996</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            63,420 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       736 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">13.74</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">610 Freedom Business Center</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            62,991 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">88.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,442 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.98</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">980 Harvest Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Blue Bell</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            62,379 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       364 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.97</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">426 Lancaster Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Devon</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            61,102 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,126 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.81</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">3329 Street Road -Greenwood Square</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Bensalem</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,705 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">70.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       771 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.54</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1180 Swedesford Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,371 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,662 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">28.23</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1160 Swedesford Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,099 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,391 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.12</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Corporate Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Camp Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,070 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.86</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">321 Norristown Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lower Gwyned</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            59,994 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">68.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,049 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.02</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Berwyn Park</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            57,731 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,209 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">28.71</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">440 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            57,218 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       521 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">11.75</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">640 Allendale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2000</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            56,034 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       355 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.38</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">680 Allendale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1962</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            52,528 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       546 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">11.50</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2240/50 Butler Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            52,229 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>

<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       844 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.22</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">650 Park Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1968</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            51,711 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">38.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       451 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.90</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1155 Business Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            51,388 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">86.4</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       568 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.02</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">800 Business Center Drive              </font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            51,236 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       580 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">12.02</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">486 Thomas Jones Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            51,072 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">79.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       723 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.86</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">855 Springdale Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,750 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       878 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.50</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">660 Allendale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1962</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,635 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       365 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.16</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">15 Campus Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown Square</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2002</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,003 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.50</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">875 First Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1966</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                  -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       219 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">630 Clark Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1960</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       288 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.78</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">620 Allendale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1961</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">50.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       624 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.87</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7150 Windsor Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            49,420 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       643 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.65</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">479 Thomas Jones Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            49,264 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">74.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       492 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.24</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">17 Campus Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown Square</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2001</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            48,565 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,225 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.04</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">520 Virginia Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Fort Washington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            48,122 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       904 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.75</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">11 Campus Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown Square</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1998</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            47,700 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,071 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.15</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">456 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            47,604 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       354 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">7.68</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">6575 Snowdrift Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            47,091 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       526 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">12.75</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">220 Commerce Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Fort Washington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            46,080 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       896 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.88</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7248 Tilghman Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            43,782 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">82.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       505 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.90</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">110 Summit Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            43,660 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       397 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">11.13</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7360 Windsor Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2001</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            43,600 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       936 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.97</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1100 Cassett Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Berwyn</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            43,480 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,106 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.38</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">467 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            42,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       530 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.48</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Welsh Road - Building I</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            40,042 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       681 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.38</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7310 Tilghman Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            40,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">82.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       450 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.64</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">150 Corporate Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Camp Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            39,401 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">80.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       585 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.38</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1336 Enterprise Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">West Goshen</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            39,330 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       692 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.50</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">600 Park Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1964</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            39,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       506 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">14.86</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">412 Creamery Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1999</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            38,098 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       759 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.33</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">755 Business Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1998</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            38,050 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       576 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.62</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">18 Campus Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newtown Square</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            37,374 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">88.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       694 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.48</font></td>
</tr>
<tr valign="bottom">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="right"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">457 Creamery Way</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            36,019 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       428 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">14.76</font></td>
</tr></table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"><a name="p?"></a></div>
<page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<br><br><table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="top">
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">&nbsp;&nbsp;Property
    Name</font></strong></td>
<td align="center"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Location</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">State</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Year<br>
  Built</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif"> Net<br>
Rentable<br>
Square<br>
Feet </font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Percentage<br>
Leased as of<br>
December 31,<br>
2002 (a)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif"> Total Base Rent<br>
for the Twelve<br>
Months Ended<br>
December 31,<br>
2002 (b) (000&#146;s)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">Average<br>
Annualized<br>
Rental Rate<br>
as of<br>
December 31,<br>
2002 (c)</font></strong></td>
</tr>
<tr valign="top">
  <td colspan="2" align="left"><hr size="1" noshade></td>
  <td align="center">&nbsp;</td>
  <td colspan="5" align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  </tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td width="3%"align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Arrandale Boulevard</font></td>
<td width="3%" align="center"><font size="1" face="serif">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Exton</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">PA</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">1997</font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">            34,931 </font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">100.0</font></td>
<td width="2%" align="left"><font size="1" face="serif">%</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">                       480 </font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">18.36</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7010 Snowdrift Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            33,029 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       417 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.05</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Lindenwood Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Allentown</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            33,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       671 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.69</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2260 Butler Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            31,892 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">63.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       457 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.06</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">700 Business Center Drive              </font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            30,773 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                  -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         56 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">120 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            30,546 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">37.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       149 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.82</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">650 Dresher Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            30,071 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       627 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.25</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">655 Business Center Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            29,849 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">77.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       407 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.52</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">468 Thomas Jones Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            28,934 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       543 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.43</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">630 Dresher Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            28,894 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       429 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.10</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1700 Paoli Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Malvern</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2000</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            28,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       153 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.59</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1150 Berkshire Boulevard</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Reading</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1979</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            26,781 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">89.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       415 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.29</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">140 West Germantown Pike</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plymouth Meeting</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            25,357 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       506 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.89</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">3333 Street Road -Greenwood Square</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Bensalem</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            25,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       477 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.50</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">800 Corporate Circle Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1979</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            24,862 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       349 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.40</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2490 Boulevard of the Generals</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">King of Prussia</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1975</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            20,600 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       416 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.40</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">481 John Young Way</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            19,275 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       405 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.61</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Lindenwood Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Malvern</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            18,400 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                  -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>

<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">500 Nationwide Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1977</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            18,027 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       322 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.13</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">600 Corporate Circle Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1978</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            17,858 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       275 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">14.94</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Welsh Road - Building II</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Horsham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            17,750 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       350 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.49</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">748 Springdale Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            13,950 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       254 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.61</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Lindenwood Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Malvern</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            12,600 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">50.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       111 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.05</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2404 Park Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            11,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       165 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.55</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">111 Arrandale Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Exton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1996</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            10,479 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       182 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.45</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2401 Park Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            10,074 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">90.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       144 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.29</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Nationwide Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Harrisburg</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1978</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">              2,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         60 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.00</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">George Kachel Farmhouse</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Reading</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">PA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2000</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">              1,664 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         33 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.03</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">301 North Walnut Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Wilmington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          321,511 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    5,748 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.61</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">201 North Walnut Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Wilmington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          311,286 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    5,245 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.93</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">400 Commerce Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newark</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          154,086 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,134 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">14.82</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">One Righter Parkway</font></td>
<td align="center"><font size="2" face="serif"><font face="serif" size="1">(d)</font></font></td>
<td align="center"><font size="1" face="serif">Wilmington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          104,828 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,293 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.55</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Two Righter Parkway</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Wilmington</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            95,514 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,919 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.73</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Commerce Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newark</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1998</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            68,034 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       536 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.50</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Commerce Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newark</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            63,218 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">39.4</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       380 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.39</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">111/113 Pencader Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Newark</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">DE</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            52,665 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">54.4</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       511 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">12.01</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td colspan="2" align="left"><font size="1" face="serif"><b>NEW JERSEY / NEW YORK SEGMENT</b></font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">50 East State Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Trenton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          305,884 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    5,066 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.62</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1009 Lenox Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lawrenceville</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          180,460 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">84.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,808 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.32</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">10000 Midlantic Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          178,605 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">98.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,102 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.00</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">33 West State Street</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Trenton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          167,774 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,969 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.25</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Main Street - Plaza 1000</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Voorhees</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          162,364 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">97.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,203 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.88</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">55 U.S. Avenue</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          138,982 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">25.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       723 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">9.00</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">457 Haddonfield Road</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          121,737 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">94.4</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,444 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.01</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2000 Midlantic Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          121,658 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">97.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,759 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.21</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2000 Lenox Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lawrenceville</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2000</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          119,114 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,113 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">26.81</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">700 East Gate Drive</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          118,899 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,325 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.72</font></td>
</tr></table>
<p align="center">&nbsp;</p>

<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"><a name="p?"></a></div>
<page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<br><br><table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="top">
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">&nbsp;&nbsp;Property
    Name</font></strong></td>
<td align="center"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Location</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">State</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Year<br>
  Built</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif"> Net<br>
Rentable<br>
Square<br>
Feet </font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Percentage<br>
Leased as of<br>
December 31,<br>
2002 (a)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif"> Total Base Rent<br>
for the Twelve<br>
Months Ended<br>
December 31,<br>
2002 (b) (000&#146;s)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">Average<br>
Annualized<br>
Rental Rate<br>
as of<br>
December 31,<br>
2002 (c)</font></strong></td>
</tr>
<tr valign="top">
  <td colspan="2" align="left"><hr size="1" noshade></td>
  <td align="center">&nbsp;</td>
  <td colspan="5" align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  </tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td width="3%" align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">993 Lenox Drive</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Lawrenceville</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">NJ</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">1985</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">          111,137 </font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">100.0</font></td>
<td width="2%" align="left"><font size="1" face="serif">%</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">                    2,432 </font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">23.10</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000 Howard Boulevard</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          105,312 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    2,170 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.65</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">One South Union Place</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            99,573 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">80.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,148 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.23</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">997 Lenox Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lawrenceville</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            97,277 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,982 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.64</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000 Atrium Way</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            97,158 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">90.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,882 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.61</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1120 Executive Boulevard</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            95,278 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">98.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,813 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">24.34</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">15000 Midlantic Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            84,056 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">88.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,384 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.56</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">220 Lake Drive East</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            78,509 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,744 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.91</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1007 Laurel Oak Road</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Voorhees</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1996</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            78,205 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       621 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">7.94</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">10 Lake Center Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            76,359 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">88.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,302 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">23.98</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">200 Lake Drive East</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            76,352 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">98.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,616 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.94</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Three Greentree Centre</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            69,300 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,369 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.27</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">King &amp; Harvard Avenue</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1974</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            67,444 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,334 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.26</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9000 Midlantic Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            67,299 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       875 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.40</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">6 East Clementon Road</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            66,236 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">87.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       983 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.04</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">104 Windsor Center Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">East Windsor</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            65,980 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,126 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.57</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">701 East Gate Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            61,794 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,148 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.68</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">210 Lake Drive East</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Cherry Hill</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,604 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,250 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.39</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">4000/5000 West Lincoln Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            60,091 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       692 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.52</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">308 Harper Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1976</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            59,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,199 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.51</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">305 Fellowship Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            56,824 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,190 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.87</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Two Greentree Centre</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            56,075 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">85.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       688 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.75</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">309 Fellowship Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            55,911 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">97.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,165 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">22.13</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">One Greentree Centre</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            55,838 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,047 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.97</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">8000 Lincoln Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1997</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            54,923 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,018 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.85</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">307 Fellowship Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1981</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            54,485 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,090 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.91</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">303 Fellowship Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1979</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            53,848 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">61.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       751 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.33</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000 Lenox Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Lawrenceville</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            52,264 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       382 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>

<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">10.00</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2 Foster Avenue</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1974</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,761 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       261 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">5.61</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">4000 Midlantic Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1998</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            46,945 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       904 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.09</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Five Eves Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            45,564 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">92.4</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       699 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.38</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">161 Gaither Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mount Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            44,739 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       784 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.58</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9000 West Lincoln Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            43,719 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       651 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.40</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Main Street - Piazza</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Voorhees</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1990</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            41,408 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       681 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.64</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000 East Lincoln Drive </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1981</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            40,600 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       175 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.38</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">30 Lake Center Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            40,287 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       792 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.43</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1000/2000 West Lincoln Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            38,950 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">96.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       502 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.49</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">20 East Clementon Road</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            38,260 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       673 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.30</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>

<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Two Eves Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            37,532 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">96.3</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       654 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.52</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1255 Broad Street</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Bloomfield</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1981</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            37,478 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       589 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">21.59</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">3000 West Lincoln Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            36,070 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">81.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       459 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.82</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">304 Harper Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1975</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            32,978 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">95.7</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       571 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.85</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Main Street - Promenade</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Voorhees</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            31,445 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       444 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.12</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Four B Eves Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            27,011 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       283 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.95</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">815 East Gate Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            25,500 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       268 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.42</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">817 East Gate Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            25,351 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       356 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.18</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">Four A Eves Drive</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Marlton</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            24,687 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">82.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       237 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.74</font></td>
</tr></table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"><a name="p?"></a></div>
<page>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<br><br><table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="top">
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">&nbsp;&nbsp;Property
    Name</font></strong></td>
<td align="center"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Location</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">State</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Year<br>
  Built</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif"> Net<br>
Rentable<br>
Square<br>
Feet </font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom"><strong><font size="1" face="serif">Percentage<br>
Leased as of<br>
December 31,<br>
2002 (a)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif"> Total Base Rent<br>
for the Twelve<br>
Months Ended<br>
December 31,<br>
2002 (b) (000&#146;s)</font></strong></td>
<td align="center" valign="bottom">&nbsp;</td>
<td colspan="2" align="center" valign="bottom"><strong><font size="1" face="serif">Average<br>
Annualized<br>
Rental Rate<br>
as of<br>
December 31,<br>
2002 (c)</font></strong></td>
</tr>
<tr valign="top">
  <td colspan="2" align="left"><hr size="1" noshade></td>
  <td align="center">&nbsp;</td>
  <td colspan="5" align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="left"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr size="1" noshade></td>
  </tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="center"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="left"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
  <td align="right"><font size="1">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td width="3%" align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1 Foster Avenue</font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="12%" align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">NJ</font></td>
<td width="3%" align="center"><font size="1">&nbsp;</font></td>
<td width="5%" align="center"><font size="1" face="serif">1972</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">            24,255 </font></td>
<td width="3%" align="right"><font size="1">&nbsp;</font></td>
<td width="7%" align="right"><font size="1" face="serif">100.0</font></td>
<td width="2%" align="left"><font size="1" face="serif">%</font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">                       117 </font></td>
<td width="3%" align="left"><font size="1">&nbsp;</font></td>
<td width="2%" align="right"><font size="1">&nbsp;</font></td>
<td width="8%" align="right"><font size="1" face="serif">6.26</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">4 Foster Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1974</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            23,372 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">61.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       158 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">5.42</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">7 Foster Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            22,158 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">82.2</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       218 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.21</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">10 Foster Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            18,651 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       299 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.15</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">305 Harper Drive</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Mt. Laurel</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1979</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            14,980 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       113 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.96</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">5 U.S. Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">              5,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         18 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">3.60</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">50 East Clementon Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">              3,080 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       125 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">47.01</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">5 Foster Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Gibbsboro</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NJ</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1968</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">              2,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">55 Ames Court</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Plainview</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NY</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1961</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            90,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,194 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.26</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td colspan="2" align="left"><font size="1" face="serif"><b>VIRGINIA SEGMENT</b></font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">600 East Main Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          424,199 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">77.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    6,239 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">20.64</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">300 Arboretum Place</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          212,339 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">98.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    3,602 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">17.26</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">6802 Paragon Place</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          143,273 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">99.5</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,515 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.71</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2511 Brittons Hill Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          132,103 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       593 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">5.52</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2100-2116 West Laburnam Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1976</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          127,300 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">83.9</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,552 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">15.37</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">1957 Westmoreland Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1975</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">          121,815 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       534 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">4.85</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2201-2245 Tomlynn Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            85,860 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">86.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       605 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">7.89</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">100 Gateway Centre Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">2001</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            74,585 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,476 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">19.24</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9011 Arboretum Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            72,851 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,271 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.08</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">4805 Lake Brooke Drive</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Glen Allen</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1996</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            61,657 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,062 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">16.07</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9100 Arboretum Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            57,519 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       991 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.47</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2812 Emerywood Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Henrico</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1980</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            56,076 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                  -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         46 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">0.00</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2277 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            50,400 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       248 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.12</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9200 Arboretum Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            49,542 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       616 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">13.34</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9210 Arboretum Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            47,943 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">53.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       386 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">14.68</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2212-2224 Tomlynn Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            45,353 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       257 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">7.25</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2221-2245 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1994</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            45,250 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">84.1</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       269 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">7.53</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2201 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1962</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            45,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       164 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">2.91</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2251 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1983</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            42,000 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">71.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       204 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.78</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2161-2179 Tomlynn Street </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            41,550 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">79.8</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       199 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.06</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2256 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1982</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            33,600 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       208 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">6.96</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2246 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1987</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            33,271 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       288 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">9.16</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2244 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1993</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            33,050 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       298 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">9.36</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">9211 Arboretum Parkway</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1991</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            30,791 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       308 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">12.34</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2248 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1989</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            30,184 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">78.6</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       207 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.80</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2130-2146 Tomlynn Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1988</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            29,700 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                  -   </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                         65 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    -   </font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2120 Tomlyn Street</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1986</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            23,850 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">56.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       129 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">8.07</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">2240 Dabney Road</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Richmond</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">VA</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1984</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            15,389 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                       138 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">9.69</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">4364 South Alston Avenue</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">Durham</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">NC</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">1985</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">            56,601 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">100.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">                    1,110 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">18.66</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><hr size="1" noshade>
</td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td colspan="2" align="right">  <hr size="1" noshade>
</td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td colspan="3" align="left"><font size="1" face="serif"><b>TOTAL ALL PROPERTIES / WEIGHTED AVG.</b></font><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="center"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif">&nbsp;</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">     16,052,821 </font></td>
<td align="right"><font size="1">&nbsp;</font></td>
<td align="right"><font size="1" face="serif">91.0</font></td>
<td align="left"><font size="1" face="serif">%</font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif"> $</font></td>
<td align="right"><font size="1" face="serif">              248,730 </font></td>
<td align="left"><font size="1">&nbsp;</font></td>
<td align="center"><font size="1" face="serif"> $</font></td>
<td align="right"><font size="1" face="serif">            18.79 </font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
  <td colspan="3" align="left">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="right"><hr size="2" noshade></td>
  <td align="right">&nbsp;</td>
  <td align="right">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr size="2" noshade>
  </td>
  <td align="left">&nbsp;</td>
  <td align="center">&nbsp;</td>
  <td align="right">&nbsp;</td>
</tr>
</table>
<p align="center">&nbsp;</p>
<p align="center"><font face="serif" size="2">19</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p20"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">Calculated by dividing net rentable square feet included in leases signed on or before December 31, 2002 at the property by the aggregate net rentable square feet of the Property.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(b)</font></td>
    <td><div align="left"><font face="serif" size="2">&#147;Total Base Rent&#148; for the twelve months ended December 31, 2002 represents base rents received during such period, excluding tenant reimbursements, calculated in accordance with generally accepted accounting principles (GAAP) determined on a straight-line basis. Tenant reimbursements generally include payment of real estate taxes, operating expenses and common area maintenance and utility charges.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(c)</font></td>
    <td><div align="left"><font face="serif" size="2">&#147;Average Annualized Rental Rate&#148; is calculated as follows: (i) for office leases written on a triple net basis, the sum of the annualized contracted base rental rates payable for all space leased as of December 31, 2002 (without giving effect to free rent or scheduled rent increases that would be taken into account under GAAP) plus the 2002 budgeted operating expenses excluding tenant electricity; and (ii) for office leases written on a full service basis, the annualized contracted base rent payable for all space leased as of December 31, 2002. In both cases, the annualized rental rate is divided by the total square footage leased as of December 31, 2002 without giving effect to free rent or scheduled rent increases that would be taken into account under GAAP.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(d)</font></td>
    <td><div align="left"><font face="serif" size="2">This Property is subject to a ground lease.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table shows certain information regarding rental rates and lease expirations for the Properties at December 31, 2002, assuming none of the tenants exercises renewal options or termination rights, if any, at or prior to scheduled expirations:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td rowspan="7" valign="bottom"><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font>      <div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Year of</b></font></div>      <div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Lease</b></font></div>      <div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Expiration</b></font></div>      <div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>December 31,</b></font></div>
    </td>
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>

    <td colspan="2" rowspan="7" align="center" valign="bottom"><br>
<font face="serif" size="1"><b>Number of<br>
Leases<br>
Expiring<br>
Within the<br>
Year</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="7" align="center" valign="bottom"><font face="serif" size="1"><b>Rentable<br>
Square<br>
Footage<br>
Subject to<br>
Expiring<br>
Leases</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="7" align="center" valign="bottom"><font face="serif" size="1"><b>Final<br>
Annualized<br>
Base Rent<br>
Under<br>
Expiring<br>
Leases (a)</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="7" align="center" valign="bottom"><font face="serif" size="1"><b>Final<br>
Annualized<br>
Base Rent<br>
Per Square<br>
Foot Under<br>
Expiring<br>
Leases</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="7" align="center" valign="bottom"><font face="serif" size="1"><b>Percentage<br>
of Total Final<br>
Annualized<br>
Base Rent<br>
Under<br>
Expiring<br>
Leases</b></font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="7" align="center" valign="bottom"><font face="serif" size="1"><b>Cumulative<br>
Total</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2"><hr noshade size="1" width="60" align="left"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2003</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">288</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">1,835,963</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">32,301,449</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">17.59</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">11.7</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="2">%</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">11.7%</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2004</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">286</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,395,459</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">42,808,907</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17.87</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15.5</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27.1%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2005</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">257</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,353,616</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44,407,410</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.87</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">43.2%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2006</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">155</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,764,095</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">30,837,369</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17.48</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">54.3%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2007</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">133</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,545,005</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28,273,071</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64.5%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2008</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">42</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">705,482</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,443,243</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21.89</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">70.1%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2009</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">621,244</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,207,971</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21.26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">74.9%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2010</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">978,236</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,133,218</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21.60</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">82.5%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2011</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">486,354</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,644,106</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17.77</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">85.6%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2012</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">560,451</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,447,469</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25.78</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">90.8%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2013 and thereafter</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,354,999</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25,396,568</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.74</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100.0%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,279</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,600,904</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,900,781</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.96</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">&#147;Final Annualized Base Rent&#148; for each lease scheduled to expire represents the cash rental rate of base rents, excluding tenant reimbursements, in the final month prior to expiration multiplied by 12. Tenant reimbursements generally include payment of real estate taxes, operating expenses and common area maintenance and utility charges.</font></div></td>
  </tr>
</table>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">20</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p21"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<div align="left"></div>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">At December 31, 2002, the Properties were leased to 1,143 tenants that are engaged in a variety of businesses. The following table sets forth information regarding leases at the Properties with the 20 tenants with the largest amounts leased based upon Annualized Escalated Rent from the Properties as of December  31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td rowspan="5" valign="bottom"><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font>      <div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Tenant Name (a)</b></font></div>
    </td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Number<br>
of<br>
Leases<br>
</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted<br>
Average<br>
Remaining<br>
Lease Term<br>
in Months</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Aggregate<br>
Square<br>
Feet<br>
Leased</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Percentage<br>
of Aggregate<br>
Leased<br>
Square Feet</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Annualized<br>
Escalated<br>
Rent (in<br>
000) (b)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Percentage of<br>
Aggregate<br>
Annualized<br>
Escalated<br>
Rent</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1"><hr noshade size="1" width="80" align="left"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">First USA Bank</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">6</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">148</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">612,282</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">4.2</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="2">%</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">13,886</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">4.6</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">State of New Jersey</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">68</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">442,451</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,202</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Computer Sciences Corporation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">345,284</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Verizon</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">257,468</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,502</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Penske Truck Leasing</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">216</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">308,205</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,292</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Omnicare Clinical Research</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">91</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">150,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,840</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Hartford Life</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">53</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">182,481</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,797</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Lockheed Martin</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">290,763</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,766</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Parsons Corporation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">85</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">174,689</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,572</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Aventis Behring</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">58</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">143,025</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,290</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">American Business Financial Services</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">99,994</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,175</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Travelers</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">149,249</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,833</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Highmark Corporation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">135,298</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,817</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">ICT Group</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">147</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">117,151</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,814</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Keystone Health Plan Central</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">122,101</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,663</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">General Electric</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,371</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,456</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Zeneca</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">46</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">107,328</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,455</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">PPD Development</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">91</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">134,222</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,439</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Kimberly Clark Corporation (Scott Paper)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">36</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">93,014</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,289</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Aetna Life Insurance</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">104,505</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,247</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Consolidated Total/Weighted Average</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">65</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">78</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,069,881</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">89,151</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">The identified tenant includes affiliates in certain circumstances.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(b)</font></td>
    <td><div align="left"><font face="serif" size="2">Annualized Escalated Rent represents the monthly Escalated Rent for each lease in effect at December 31, 2002 multiplied by 12. Escalated Rent represents fixed base rental amounts plus tenant reimbursements which include payment of real estate taxes, operating expenses and common area maintenance and utility charges. The Company estimates operating expense reimbursements based on historical amounts and comparable market data.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table sets forth the year-end occupancy percentages of the Company&#146;s Properties for the last five years:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td width="20%"><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Year ended December 31,</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td width="20%" colspan="2" align="center" valign="bottom"><font face="serif" size="2"><b>Occupancy %</b></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1" width="150" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>2002</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><b>91.0</b></font></td>
    <td valign="bottom"><font face="serif" size="2"><b>%</b></font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>2001</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><b>92.2</b></font></td>
    <td valign="bottom"><font face="serif" size="2"><b>%</b></font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>2000</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><b>95.6</b></font></td>
    <td valign="bottom"><font face="serif" size="2"><b>%</b></font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>1999</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><b>94.1</b></font></td>
    <td valign="bottom"><font face="serif" size="2"><b>%</b></font></td>
  </tr>
  <tr valign="top">
<td><font face="serif" size="2">&nbsp;</font></td>
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>1998</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2"><b>93.6</b></font></td>
    <td valign="bottom"><font face="serif" size="2"><b>%</b></font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b>Real Estate Ventures</b></div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had invested approximately $14.8 million in ten unconsolidated Real Estate Ventures (net of returns of investment received by the Company). The Company, through subsidiaries, formed these ventures with unaffiliated third parties to develop office properties or to acquire  land in anticipation of possible development of office properties. Eight of the Real Estate Ventures own eight office buildings that contain an aggregate of approximately 1.1 million net rentable square feet; one Real Estate Venture developed a hotel property that contains 137 rooms; and one Real Estate Venture holds  approximately three acres of land for future development. At December 31, 2002, the operating properties owned by the Real Estate Ventures were approximately 57% leased to 56 tenants.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">21</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p22"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s investment in Real Estate Ventures is as follows (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Ownership<br>
Percentage (1)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1"><b>Carrying<br>
Amount</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Real Estate<br>
Venture<br>
Debt at 100%</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Company&#146;s Share<br>
of Real Estate<br>
Venture Income (Loss)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Two Tower Bridge Associates</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">35</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="2">%</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">2,642</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">7,855</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">281</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Four Tower Bridge Associates</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">65</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,322</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">184</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Five Tower Bridge Associates</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Six Tower Bridge Associates</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">65</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">725</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,951</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">106</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Eight Tower Bridge Associates</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,176</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,782</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(116</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Tower Bridge Inn Associates</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,577</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,700</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(200</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">1000 Chesterbrook Boulevard Partnership</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,708</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28,178</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">579</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">PJP Building Two, LC</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">30</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,172</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(63</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">PJP Building Five, LC</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">179</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,891</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">56</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Florig, LP</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">30</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">500</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Christiana
          Center Operating Company I, LLC (2)</font></div></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">147</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Christiana
          Center Operating Company II, LLC (2)</font></div></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Christiana
          Center Operating Company III, LLC (2)</font></div></td>
    <td valign="bottom">&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">$ 14,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">149,129</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">987</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(1)</font></td>
    <td><div align="left"><font face="serif" size="2">Ownership percentage represents the Company&#146;s entitlement to residual distributions after payment by the applicable venture of priority returns.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(2)</font></td>
    <td><div align="left"><font face="serif" size="2">During 2002, the Company purchased the remaining partnership interests in these Real Estate Ventures. The results of operations of these Real Estate Ventures are consolidated from the date of purchase of the remaining interests.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b><a name="p22a"></a>Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legal Proceedings</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company is involved from time to time in litigation on various matters, which include disputes with tenants and disputes arising out of agreements to purchase or sell properties. Given the nature of the Company&#146;s business activities, these lawsuits are considered routine to the conduct of its business. The  result of any particular lawsuit cannot be predicted, because of the very nature of litigation, the litigation process and its adversarial nature, and the jury system.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company is a defendant in a case in which the plaintiffs allege that the Company breached its obligation to purchase a portfolio of properties for approximately $83.0 million.
 On July 9, 1999, the Superior Court of New Jersey, Camden County, dismissed the complaint against the Company with prejudice.
  The plaintiffs subsequently filed a motion for reconsideration, which motion the Superior Court denied. Plaintiffs then appealed
   to the Appellate Division, which is the intermediate appellate level court in New Jersey. In December 2000, the Appellate Division affirmed in part and reversed in part the Chancery Division&#146;s  earlier dismissal of the entire action. The Appellate Division affirmed the dismissal of the fraud and other non-contractual counts in the Complaint, but reversed the contract and reformation counts and remanded these to the lower court for further proceedings. The Company sought review of this decision by the Supreme  Court of New Jersey, but in March 2001 that Court declined to consider the appeal. The case thereafter returned to the Chancery Division, where written and oral discovery was conducted in 2002 and in the first quarter of 2003. Discovery terminated on February 14, 2003. The Company filed a motion for summary  judgment on all counts, seeking dismissal of all counts against it, and judgment for the Company on its counterclaim. The Chancery Division granted the Company&#146;s summary judgment motion on March 25, 2003. At this time, the Company does not know whether plaintiffs will appeal, or if they appeal, whether plaintiffs
     will be successful in the appeal.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">There have been recent reports of lawsuits against owners and managers of multifamily and office properties asserting claims of personal injury and property damage caused by the presence of mold in residential units or office space. The Company has been named as a defendant in two lawsuits that allege personal  injury as a result of the presence of mold. Unspecified damages are sought. The Company has referred these lawsuits to its environmental insurance carrier and, as of the date of this Form 10-K, the insurance carrier is evaluating coverage.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">22</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p23"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><b><a name="p23a"></a>Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Submission of Matters to a Vote of Security Holders</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company did not submit any matters to a vote of security holders in the fourth quarter of the fiscal year ended December 31, 2002.</div></font></p>
<p align="center"><font face="serif" size="2"><b>PART II</b></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p23b"></a>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market for Registrant&#146;s Common Equity and Related Shareholder Matters</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Common Shares are traded on the New York Stock Exchange (&#147;NYSE&#148;) under the symbol &#147;BDN.&#148; On March 24, 2003, there were approximately 377 holders of record of the Common Shares. On March 24, 2003, the last reported sales price of the Common Shares on the NYSE was $21.50. The following  table sets forth the quarterly high and low closing sales price per share reported on the NYSE for the indicated periods and the distributions paid by the Company with respect to each such period.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Share Price<br>
High</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Share Price<br>
Low</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Distributions<br>
Declared For Quarter</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">First Quarter 2001</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">21.75</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">18.56</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">0.41</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Second Quarter 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.81</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.41</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Third Quarter 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.75</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.81</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Fourth Quarter 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21.63</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">First Quarter 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23.90</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20.24</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Second Quarter 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.00</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.91</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Third Quarter 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24.96</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20.20</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Fourth Quarter 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.08</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Future distributions by the Company will be declared at the discretion of the Board of Trustees and will depend on the actual cash flow of the Company, its financial condition, capital requirements, the annual distribution requirements under the REIT provisions of the Internal Revenue Code of 1986 and such other  factors as the Board of Trustees deems relevant.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002 and through the date of this Annual Report on Form 10-K, the Company did not issue any securities that were not registered under the Securities Act of 1933.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table provides information as of December 31, 2002 with respect to compensation plans under which equity securities of the Company are authorized for issuance:</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">23</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p24"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="center"><font face="serif" size="2"><b>Equity Compensation Plan Information as of December 31, 2002</b></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(b)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(c)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Plan category</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Number of securities to be issued upon exercise of outstanding options, warrants and rights</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted-average exercise price of outstanding options, warrants and rights</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity compensation plans approved by security holders (1)</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">2,876,521</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">26.70 </font></td>
    <td valign="bottom" width="2%"><font face="serif" size="2">(2)</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">1,391,436</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity compensation plans not approved by security holders</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,876,521</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.70 </font></td>
    <td valign="bottom"><font face="serif" size="2">(2)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,391,436</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td colspan="10"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><hr noshade size="1" align="left" width="100"></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(1)</font></td>
    <td><div align="left"><font face="serif" size="2">Relates to the Company&#146;s 1997 Long-Term Incentive Plan.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(2)</font></td>
    <td><div align="left"><font face="serif" size="2">Weighted-average exercise price of outstanding options, excludes restricted Common Shares.</font></div></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">24</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p25"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><b><a name="p25a"></a>Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selected Financial Data</b></font></p>
<p align="left"><font face="serif" size="2">(in thousands, except per Common Share data and number of properties)</font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Year Ended December 31,</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1999</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1998</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Results</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">296,730</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,546</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">259,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">253,190</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">170,197</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,722</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,606</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,025</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">51,078</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,252</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,323</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Basic</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.40</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.90</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Diluted</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.39</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.89</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cash distributions declared per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.76</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.70</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.62</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.52</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Balance Sheet Data</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate investments, net of accumulated depreciation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,745,981</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,812,909</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,674,341</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,702,353</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,840,618</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,919,288</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,960,203</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,821,103</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,825,276</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,909,100</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total indebtedness</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,004,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,009,165</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">866,202</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">839,634</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,000,560</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total liabilities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,097,793</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,108,213</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">923,961</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">895,083</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,040,828</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">135,052</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">143,834</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">144,974</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">145,941</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">127,198</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Beneficiaries&#146; equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">686,443</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">708,156</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">752,168</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">784,252</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">741,074</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Other Data</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cash flows from:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Operating activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">118,684</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">143,318</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">103,123</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">81,495</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,116</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Investing activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,038</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(123,682</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(32,372</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,195</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(903,193</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Financing activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(110,380</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(22,317</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(60,403</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(158,073</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">813,710</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Property Data</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Number of properties owned at year end</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">238</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">270</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">250</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">251</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">272</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net rentable square feet owned at year end</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,052</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,312</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,471</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,607</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">18,834</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b><a name="p25b"></a>Item 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following discussion should be read in conjunction with the financial statements appearing elsewhere herein. The results of operations, liquidity and capital resources and cash flows of the Company include the historical results of operations of the Properties held by the Company during the years ended  December 31, 2002, 2001 and 2000. This Annual Report on Form 10-K contains forward-looking statements for purposes of the Securities Act of 1933 and the Securities Exchange Act of 1934 and as such may involve known and unknown risks, uncertainties and other factors that may cause the actual results,  performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions,  there can be no assurance that these expectations will be realized. See Item 1. Business &#150; Risk Factors.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2">OVERVIEW</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company currently manages its portfolio within three geographic segments: (1) Pennsylvania, (2) New Jersey and (3) Virginia. The Company believes it has established an effective platform in these office and industrial markets that provides a foundation for achieving its goals of maximizing market  penetration and optimizing operating economies of scale.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company sold 23 office and 20 industrial properties, containing 2.3 million net rentable square feet, and two parcels of land, containing 12.8 acres, for $190.8 million. The Company also acquired</div></font></p>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">25</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p26"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>

<p align="left"><font face="serif" size="2">seven office properties, containing 617,000 net rentable square feet, and one parcel of land, containing 9.0 acres, for $99.1 million.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company receives income primarily from rental revenue (including tenant reimbursements) from the Properties and, to a lesser extent, from the management of properties owned by third parties and from investments in the Real Estate Ventures.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s financial performance is dependent upon the demand for office and other commercial space in its markets. Current economic conditions, including recessionary pressures and capital market volatility, have enhanced the challenges facing the Company.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In the current economic climate, the Company continues to seek revenue growth through an increase in occupancy of its portfolio (91.0% at December 31, 2002). However, with a downturn in general leasing activity, owners of commercial real estate, including the Company, are experiencing longer periods in  which to lease unoccupied space, and may face higher capital costs and leasing commissions to achieve targeted tenancies.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As the Company seeks to increase revenue, management also focuses on strategies to minimize operating risks, including (i) tenant rollover risk, (ii) tenant credit risk and (iii) development risk.</div></font></p>
<p align="left"><font face="serif" size="2">Tenant Rollover Risk:</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company is subject to the risk that, upon expiration, leases may not be
 renewed, the space may not be relet, or the terms of renewal or reletting (including the cost of renovations) may be less favorable than the
  current lease terms. Leases accounting for approximately 11.7% of the aggregate annualized base  rents from the Properties as of December
   31, 2002 (representing approximately 11.4% of the net rentable square feet of the Properties) expire without penalty through the end of
    2003. The Company maintains an active dialogue with its tenants in an effort to achieve a high level of lease renewals.
	 The Company&#146;s retention  rate for leases that were scheduled to expire in the year ended December 31, 2002 was 78.0%.
	  If the Company is unable to renew leases for a substantial portion of the space under expiring leases, or to promptly
	   relet this space, at anticipated rental rates, the Company&#146;s cash flow could be adversely impacted.</div></font></p>
<p align="left"><font face="serif" size="2">Tenant Credit Risk:</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In the event of a tenant default, the Company may experience delays in enforcing its rights as a landlord and may incur substantial costs in protecting its investment. Management regularly evaluates its accounts receivable reserve policy in light of its tenant base and general and local economic conditions. The  accounts receivable allowances were $4.6 million or 12.5% of total receivables (including accrued rent receivable) as of December 31, 2002 compared to $4.5 million or 12.5% of total receivables (including accrued rent receivable) as of December 31, 2001.</div></font></p>
<p align="left"><font face="serif" size="2">Development Risk:</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company currently has in development or redevelopment three sites aggregating 428,000 square feet. The total cost of these projects is estimated to be $83.7 million, of which $73.9 million was incurred as of December 31, 2002. As of December 31, 2002, these projects were approximately 43% leased. While  the Company is actively marketing space at these projects to prospective tenants, management cannot provide assurance as to the timing or terms of any leases of such space. As of December 31, 2002, the Company owned approximately 444 acres of undeveloped land and held options to purchase approximately 63  additional acres. Risks associated with development of this land include construction cost overruns and construction delays, insufficient occupancy rates and inability to obtain necessary zoning, land-use, building, occupancy and other required governmental approvals.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>CRITICAL ACCOUNTING POLICIES</i></b></font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations discusses the Company&#146;s consolidated financial statements, which have been prepared in accordance with accounting</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">26</font></p>
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<p align="left"><font face="serif" size="2">principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and the reported amounts of  revenues and expenses during the reporting period.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s significant accounting policies are described in Note 1 to the consolidated financial statements included this Annual Report on Form 10-K. While the estimates and judgments associated with the application of these accounting policies may be affected by different assumptions or conditions, the  Company believes the estimates and judgments associated with the reported amounts are appropriate in the circumstances. The following explains several of the Company&#146;s critical accounting policies that are used in preparing the Company&#146;s consolidated financial statements which require the Company&#146;s management to  use significant judgment and estimates:</div></font></p>
<p align="left"><font face="serif" size="2">Revenue Recognition</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Rental revenue is recognized on a straight-line basis over the lease term regardless of when payments are due. Certain lease agreements contain provisions that require tenants to reimburse a pro rata share of real estate taxes and certain common area maintenance costs.</div></font></p>
<p align="left"><font face="serif" size="2">Real Estate Investments</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Real estate investments are carried at cost. The Company records acquisition of real estate investments under the purchase method of accounting and allocates the purchase price to land, buildings and intangible assets on a relative fair value basis. Depreciation is computed using the straight-line method over the  useful lives of buildings and capital improvements (25 to 40 years) and over the shorter of the lease term or the life of the asset for tenant improvements. Direct construction costs related to the development of certain Properties and land holdings are capitalized as incurred. The Company expenses routine repair and  maintenance expenditures.</div></font></p>
<p align="left"><font face="serif" size="2">Impairment of Long-Lived Assets</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Management reviews investments in real estate and real estate ventures for impairment if facts and circumstances indicate that the carrying value of such assets may not be recoverable. Measurement of any impairment loss will be based on the fair value of the asset determined using customary valuation  techniques, such as the present value of expected future cash flows.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets, such as real estate
 investments and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances
  indicate that the carrying amount of  an asset may not be recoverable. Recoverability of assets to be held and used is measured by a
   comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset.
    If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge  is recognized by the amount
	 by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately
	  presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are
	   no longer depreciated. The assets and liabilities of  a disposed group classified as held-for-sale would be presented
	    separately in the appropriate asset and liability sections of the balance sheet.</div></font></p>
<p align="left"><font face="serif" size="2">Allowance for Doubtful Accounts</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company maintains an allowance for doubtful accounts that represents an estimate of losses that may be incurred from the inability of tenants to make required payments. The allowance is an estimate based on two calculations that are combined to determine the total amount reserved. First, the Company  evaluates specific accounts where it has been determined that a tenant may have an inability to meet its financial obligations. In these situations, the Company uses its judgment, based on the facts and circumstances, and records a specific reserve for that tenant against amounts due to reduce the receivable to the amount  that the Company expects to collect. These reserves are reevaluated and adjusted as additional information becomes available. Second, a reserve is established for all tenants based on a range of</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">27</font></p>
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<p align="left"><font face="serif" size="2">percentages applied to aging categories. These percentages are based on historical collection and write-off experience. If the financial condition of the Company&#146;s tenants were to deteriorate, additional allowances may be required.</font></p>
<p align="left"><font face="serif" size="2">Deferred Costs</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company incurs direct costs related to the financing and leasing of the Properties. Management is required to use professional judgment in determining whether such costs meet the criteria for capitalization or must be expensed. Capitalized financing fees are amortized over the related loan term and capitalized  leasing costs are amortized over the related lease term. Management re-evaluates the remaining useful lives of leasing costs as the creditworthiness of the Company&#146;s tenants and economic and market conditions change.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>RESULTS OF OPERATIONS</i></b></font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%"><b><i>Comparison of the Year Ended December 31, 2002 to the Year Ended December 31, 2001</i></b></div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Dollar<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Percent<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">253,338</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">233,612</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19,726</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,624</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,470</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,154</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,464</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(696</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-6.7</font></td>
    <td><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">296,730</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,546</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,184</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">76,746</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">72,492</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,254</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25,854</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,077</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,777</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">63,522</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,385</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,863</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-4.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">57,599</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,047</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,448</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-16.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Administrative expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,804</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,177</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(373</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-2.5</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Non-recurring charges</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,600</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">238,525</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">252,778</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(14,253</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-5.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before equity in</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;income of real estate ventures, net gain on sales</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;and minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">58,205</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,437</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">144.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity in income of real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">987</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,781</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-64.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before net gain</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;on sales and minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,192</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,536</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,656</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">123.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net gain on sales of interest in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,524</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(4,524</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-100.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(9,375</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,915</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,460</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-18.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,817</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,145</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,672</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">115.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations, net of minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,167</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,479</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,833</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28,151</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">80.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,111</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,722</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,262</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">86.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The results of operations for the years ended December 31, 2002 and 2001 include the respective operations of the Properties. Of the 238 Properties owned by the Company as of December 31, 2002, a total of 194 Properties containing an aggregate of 13.2 million net rentable square feet (&#147;Same Store  Properties&#148;) were owned for the entire twelve-month periods ended December 31, 2002 and 2001. The following table set forth revenue and expense information as to these Same Store Properties for the twelve-month periods ended December 31, 2002 and 2001:</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">28</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p29"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;<b>Dollar<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;<b>Percent<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">203,365</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">207,071</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(3,706</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-1.8</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,324</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,143</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">181</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.6</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">615</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">427</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">188</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">233,304</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">236,641</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(3,337</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-1.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">71,246</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,876</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,370</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,909</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,779</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,130</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">93,155</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">90,655</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,500</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Property NOI</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">140,149</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">145,986</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(5,837</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-4.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Revenue increased to $296.7 million for 2002 as compared to $276.5 million for 2001, primarily due to increased rental rates and additional properties in 2002, offset by decreased occupancy. The straight-line rent adjustment increased revenues by $ 5.9 million in 2002 and $6.2 million in 2001. Revenue for Same  Store Properties decreased to $233.3 million in 2002 from $236.6 million in 2001. This decrease was the result of decrease occupancy in 2002 as compared to 2001. Average occupancy for the Same Store Properties decreased to 90.4% in 2002 from 94.5% in 2001. Other revenue represents lease termination fees, leasing  commissions, third-party management fees and interest income. Other revenue decreased to $9.8 million in 2002 from $10.5 million in 2001 primarily due to reduced interest income earned in 2002 as compared to 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Property operating expenses increased to $76.7 million in 2002 as compared to $72.5 million in 2001, primarily due to increased insurance and security costs and additional properties in 2002. Property operating expenses included a provision for doubtful accounts of $.9 million in 2002 and $2.9 million in 2001 to  provide for increased tenant credit risk. Property operating expenses for the Same Store Properties increased to $71.2 million in 2002 as compared to $69.9 million in 2002 as a result of higher insurance and security costs.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Real estate taxes increased to $25.9 million in 2002 as compared to $23.1 million in 2001, primarily due to increased real estate tax assessments in 2002 and additional properties in 2002. Real estate taxes for the Same Store Properties increased to $21.9 million in 2002 as compared to $20.8 million in 2001 as a  result of higher tax rates and property assessments.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Interest expense decreased to $63.5 million in 2002 as compared to $66.4 million in 2001, primarily due to decreased interest rates offset by increased average borrowings during 2002. Average outstanding debt balances for 2002 were $1.0 billion as compared to $949.5 million for 2001. The Company&#146;s weighted-  average interest rate from its unsecured credit facilities after giving effect to hedging activities on the unsecured credit facilities decreased to 5.41% in 2002 from 6.48% in 2001 and on mortgage notes payable decreased to 7.27% in 2002 from 7.39% in 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Depreciation decreased to $51.9 million in 2002 as compared to $64.5 million in 2001 primarily due to a change made by the Company in the estimated useful lives of buildings from 25 to 40 years. The impact of this change in useful lives was $19.0 million or $.53 per share for the year ended December 31,  2002. Management determined that the longer period better reflected the useful lives of the buildings. Amortization, related to deferred leasing costs, increased to $5.7 million in 2002 as compared to $4.5 million in 2001, primarily due to increased leasing activity and additional properties in 2002.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Administrative expenses decreased to $14.8 million in 2002 as compared to $15.2 million in 2001, primarily due to decreased amortization of restricted stock.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">29</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p30"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Equity in income of Real Estate Ventures decreased to $1.0 million in 2002 as compared to $2.8 million in 2001. The 2001 results include a $785,000 gain on the sale of the Company&#146;s interests in a Real Estate Venture. In addition, the Company acquired the remaining partnership interests in three Real Estate  Ventures, and, accordingly, the results attributable to these properties are now consolidated from the date of acquisition.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company sold 23 office properties containing an aggregate of 1.4 million net rentable square feet, 20 industrial properties containing an aggregate of .9 million net rentable square feet and two land parcels containing of 12.8 acres for $190.8 million, realizing a net gain of $8.6 million. During  2001, the Company sold three office properties, eight industrial properties and four land parcels for $31.3 million, realizing a net gain of $4.5 million.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Minority interest from continuing operations represents the equity in income attributable to the portion of the Operating Partnership not owned by the Company. Minority interest from continuing operations increased to $9.3 million in 2002 as compared to $7.9 million in 2001, primarily due to increased results of  continuing operations in 2002 as compared to 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Discontinued operations increased from $13.2 million in 2002 as compared to $11.7 million in 2001 primarily due to net gain on sales of real estate investments of $8.6 million in 2002. During 2002, the Company recorded an impairment loss of $665,000 related to one property held-for-sale for which the  anticipated net sales price is less than the book value of the asset.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>Comparison of the Year Ended December 31, 2001 to the Year Ended December 31, 2000</i></b></font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;<b>Dollar<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;</font><font face="serif" size="1">&nbsp;<b>Percent<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001&nbsp;(a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td>&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">233,612</font></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">218,520</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,092</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>

  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,470</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,898</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,572</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,464</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,398</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(934</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-8.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,546</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">259,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,730</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">72,492</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">63,995</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,497</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,077</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,731</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,346</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,385</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,783</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,602</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.5</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,047</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,950</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,097</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Administrative expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,177</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,194</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">983</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Non-recurring charges</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">252,778</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">224,653</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28,125</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12.5</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before equity in income of real estate ventures, net gain on sales, minority interest and extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,163</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,395</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-32.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity in income of real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,790</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(22</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-0.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before net gain on sales, minority interest and extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,536</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">37,953</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,417</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-30.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net gain on sales of interest in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,524</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,638</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,114</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-61.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,915</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(8,908</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">993</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,145</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,683</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(17,538</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-43.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations, net of minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,475</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">213</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
    <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
<tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,833</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(17,325</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-33.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-33.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,722</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(18,436</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-35.3</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">In 2000, the Operating Partnership held a 95% economic interest in Brandywine Realty Services Corporation (the &#147;Management Company&#148;) through its ownership of 100% of the Management Company&#146;s non-voting preferred stock</font></div></td>
  </tr>
</table>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">30</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p31"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">&nbsp;</font></td>
    <td><div align="left"><font face="serif" size="2">and 5% of its voting common stock. Effective January 1, 2001, the Company converted its non-voting equity interest in the Management Company to a voting interest. Accordingly, the Company owns 95% of the equity of and has voting control over the Management Company. Therefore, the 2002 and 2001 financial results of the Management Company have been consolidated. For purposes of the Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations, the 2000 results of operations presented below have been restated to reflect this presentation.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The results of operations for the year ended December 31, 2001 and 2000 include the respective operations of the Properties. Of the 270 Properties owned by the Company as of December 31, 2001, a total of 224 Properties containing an aggregate of 14.8 million net rentable square feet (&#147;Same Store Properties&#148;)  were owned for the entire twelve-month periods ended December 31, 2001 and 2000. The following table set forth revenue and expense information as to these Same Store Properties for the twelve-month periods ended December 31, 2001 and 2000:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Dollar<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="3" align="center" valign="bottom"><font face="serif" size="1"><b>Percent<br>
Change</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">221,258</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">215,990</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,268</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.4</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,751</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">30,689</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,062</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.7</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">567</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">659</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(92</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">-14.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">254,576</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">247,338</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,238</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,510</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,436</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,074</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,933</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,186</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">747</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">97,443</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">92,622</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,821</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Property NOI</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">157,133</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">154,716</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,417</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.6</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Revenue increased to $276.5 million for 2001 as compared to $259.8 million for
 2000, primarily due to increased rental rates and additional properties in 2001, offset by decreased occupancy. The straight-line rent adjustment
  increased revenues by $6.2 million in 2001 and $6.4 million in 2000. Average occupancy  decreased to 94.5% in 2001 as compared to 95.0% for 2000.
   Revenue for the Same Store Properties increased to $254.6 million in 2001 from $247.3 million in 2000. This increase was the result of increased
    rental rates offset by a slight decrease in occupancy in 2001 as compared to 2000. Average occupancy for the  Same Store Properties decreased
	 to 95.1% in 2001 from 95.3% in 2000. Other revenue represents lease termination fees, leasing commissions, third-party management fees and
	  interest income. Other revenue decreased to $10.5 million in 2001 from $11.4 million in 2000 primarily due to additional interest income
	   earned  in 2000 on deposits made to acquire properties.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Property operating expenses increased to $72.5 million in 2001 as compared to $64.0 million in 2000, primarily due to increased utilities expense, increased provision for doubtful accounts and additional properties in 2001. Property operating expenses included a provision for doubtful accounts of $2.9 million in  2001 and $332,000 in 2000 to provide for credit risk related to certain tenants. Property operating expenses for the Same Store Properties increased to $73.5 million in 2001 as compared to $69.4 million in 2000 as a result of higher utility expenses, increased repairs and maintenance costs and increased property  management charges.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Real estate taxes increased to $23.1 million in 2001 as compared to $21.7 million in 2000, primarily due to increased real estate tax assessments in 2001 and additional properties in 2001. Real estate taxes for the Same Store Properties increased to $23.9 million in 2001 as compared to $23.2 million in 2000 as a  result of higher tax rates and property assessments.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Interest expense increased to $66.4 million in 2001 as compared to
 $64.8 million in 2000, primarily due to increased average borrowings resulting from the Prentiss Properties transaction in 2001, partially
  offset by decreased interest rates. Average outstanding debt balances for 2001 were $949.5 million as  compared to $871.3 million for 2000.
   The Company&#146;s weighted-average interest rate after giving effect to hedging</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">31</font></p>
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<div style="page-break-before:always"></div>
<page>
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<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2">activities on unsecured credit facilities decreased to 6.48% in 2001 from 7.84% in 2000 and on mortgage notes payable decreased to 7.39% in 2001 from 7.92% in 2000.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Depreciation increased to $64.5 million in 2001 as compared to $56.5 million in 2000 primarily due to additional properties in 2001. Amortization, related to deferred leasing costs, increased to $4.5 million in 2001 as compared to $3.5 million in 2000, primarily due to increased leasing activity and additional  properties in 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Administrative expenses increased to $15.2 million in 2001 as compared to $14.2 million in 2000, primarily due to amortization of deferred compensation costs related to additional restricted Common Shares awarded in 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During the fourth quarter of 2001, the Company recorded a $6.6 million non-recurring charge related to the change in employment status of the Company&#146;s Chairman to a non-executive, non-managerial status and the write-down of the Company&#146;s $2.5 million investment in a telecommunications company that was  deemed to be other than temporary. The $4.1 million charge related to the Company&#146;s Chairman reflects an accrual on account of payment obligations of the Company under its employment agreement with the Chairman, accelerated vesting of his restricted shares and restructuring of his executive stock loan.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Equity in income of Real Estate Ventures was $2.8 million in 2001 and 2000. The income attributable to two ventures sold in 2001 was offset by four ventures commencing operations in 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2001, the Company sold three office properties, eight industrial properties and four land parcels for $31.3 million, realizing a net gain of $4.5 million. During 2000, the Company sold seven office properties and two land parcels for $101.1 million, realizing a net gain of $11.6 million.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Minority interest decreased to $7.9 million in 2001 as compared to $8.9 million in 2000, primarily due to the $6.6 million non-recurring charge in 2001and decreased gains on sales of interests in real estate.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>LIQUIDITY AND CAPITAL RESOURCES</i></b></font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>Cash Flows</i></b></font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company generated $118.7 million in cash flow from operating activities. Other sources of cash in-flows consisted of: (i) $115.0 million of proceeds
 from the Term Loan and draws on the Credit Facility , (ii) $78.0 million of net proceeds from property sales, (iii) proceeds from $20.2 million
  of  additional mortgage notes payable, (iv) $2.5 million of escrowed cash, (v) $2.0 million of cash distributions from Real Estate Ventures
   and (vi) $1.7 million from payments on employee loans. During 2002, cash out-flows consisted of: (i) $102.3 million of Credit Facility
    repayments, (ii) $75.0 million of distributions to  shareholders, (iii) $48.6 million of mortgage note repayments, (iv) $38.8 million
	 to fund capital expenditures, (v) $25.1 million for property acquisitions, (vi) $20.2 million to repurchase Common Shares and minority
	  interest units in the Operating Partnership, (vii) $13.1 million of leasing costs, (viii) $.7 million of debt  costs, (ix) $.4 million
	   of additional investment in Real Estate Ventures and (x) $.4 million of distributions to minority interest holders in excess of income
	    allocated.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2001, the Company generated $143.4 million in cash flow
 from operating activities. Other sources of cash in-flows consisted of: (i) proceeds from $135.2 million of additional mortgage notes
  payable, (ii) $91.0 million of proceeds from draws on the Credit Facility, (iii) $31.3 million of net proceeds from  property sales,
   (iv) $5.5 million of cash distributions from Real Estate Ventures and (v) $1.0 million from payments on employee loans. During 2001,
    cash out-flows consisted of: (i) $127.9 million of mortgage note repayments, (ii) $107.4 million to fund capital expenditures, (iii)
	 $72.5 million of distributions to  shareholders, (iv) $40.4 million for property acquisitions, (v) $35.0 million to repay borrowings
	  under the Credit Facility, (vi) $9.2 million of leasing costs, (vii) $6.5 million to repurchase Common Shares and minority interest
	   units in the Operating Partnership, (viii) $5.6 million of debt costs, (ix) $2.5 million of</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">32</font></p>
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<div style="page-break-before:always"></div>
<page>
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<p align="left"><font face="serif" size="2">additional investment in Real Estate Ventures, (x) $2.0 million of distributions to minority interest holders in excess of income allocated and (xi) $1.0 million of escrowed cash.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2000, the Company generated $103.1 million in cash flow from operating activities. Other sources of cash in-flows consisted of: (i) $107.4 million of additional mortgage notes payable, (ii) $101.1 million of net proceeds from property sales and (iii) $71.0 million of proceeds from draws on the Credit  Facility. During 2000, cash out-flows consisted of: (i) $113.1 million to fund capital expenditures, (ii) $109.5 million to repay borrowings under the Credit Facility, (iii) $69.0 million of distributions to shareholders, (iv) $42.4 million of mortgage note repayments, (v) $15.3 million to repurchase Common Shares, (vi) $7.0  million for property acquisitions, (vii) $6.6 million of leasing costs, , (viii) $4.0 million of escrowed cash, (ix) $2.7 million of additional investment in Real Estate Ventures, (x) $1.7 million of debt costs and (xi) $.9 million of distributions to minority interest holders in excess of income allocated.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div align="left"><font face="serif" size="2"><b><i>Capitalization</i></b></font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">At December 31, 2002, the Company maintained a $500.0 million Credit Facility. (See Item 1. Business-Credit Facility)</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had approximately $1 billion of debt outstanding, consisting of $307.0 million of borrowings under the
 Credit Facility, $100.0 million of borrowings under the Term Loan and $597.7 million of mortgage notes payable. The mortgage notes
  payable consists of $537.1 million  of fixed rate loans and $60.6 million of variable rate loans. Additionally, the Company has
   entered into interest rate swap and cap agreements to fix the interest rate on $203.0 million of the Credit Facility and variable
    rate loans. The mortgage loans mature between March 2003 and July 2027. As of December 31, 2002,  the Company also had $13.6
	 million of letters of credit outstanding under the Credit Facility and $179.4 million of unused availability under the Credit
	  Facility. For the year ended December 31, 2002, the weighted-average interest rate under the Credit Facility and the related
	   swap agreements was 5.41%, the weighted-  average interest rate for the Term Loan was 3.39% and the weighted-average interest
	    rate for borrowings under mortgage notes payable and the related cap agreements was 7.27%.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table outlines the timing of payment requirements related to the Company&#146;s commitments as of December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="14" align="center" valign="bottom"><font face="serif" size="1"><b>Payments by Period (in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="14" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Less than</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>More than</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Total</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1 Year</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1-3 Years</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>3-5 Years</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>5 Years</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Mortgage notes payable:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Fixed rate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">537,093</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">77,934</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">74,412</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">38,041</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">346,706</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Variable rate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25,113</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">154</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">364</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">767</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,828</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Construction loans</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,523</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,523</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
 <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">597,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">113,611</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">74,776</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">38,808</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">370,534</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Revolving credit facility</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">307,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">307,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Unsecured debt</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Other liabilities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,239</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,277</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,962</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,017,968</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">115,888</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">492,738</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">38,808</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">370,534</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company intends to refinance its mortgage notes payable as they become due or repay those that are secured by properties being sold. The Company expects to renegotiate its Credit Facility and Term Loan prior to maturity or extend their terms.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company&#146;s debt-to-market capitalization ratio was 49.8%. As a general policy, the Company intends, but is not obligated, to adhere to a policy of maintaining a long-term average debt-to-market capitalization ratio of no more than 50%.</div></font></p>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">33</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p34"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s Board of Trustees approved a share repurchase program authorizing the Company to repurchase up to 4,000,000 of its outstanding Common Shares. Through December 31, 2002, the Company had repurchased 3.2 million of its Common Shares at an average price of $17.71 per share. Under the  share repurchase program, the Company has the authority to repurchase an additional 834,000 shares. No time limit has been placed on the duration of the share repurchase program. The following table summarizes the share repurchases during the three years ended December 31, 2002:</div></font></p>
<p align="left">&nbsp;</p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Years Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Repurchased amount (shares)</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">491,074</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">302,437</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">957,729</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Repurchased amount ($, in thousands)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,053</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,908</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,277</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Average price per share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.51</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.54</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15.95</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table summarized the Class A Units tendered for redemption during the three years ended December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Years Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Repurchased amount (units)</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">364,222</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">3,247</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Repurchased amount ($, in thousands)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,536</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,031</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Average price per share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23.44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.72</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b><i>Short- and Long-Term Liquidity</i></b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company believes that cash flow from operations and current financing alternatives are adequate to fund its short-term liquidity requirements for 2003. Cash flow from operations is generated primarily from rental revenues, operating expense reimbursements from tenants, and by providing of management  services to third parties. The Company intends to use these funds to meet its principal short-term liquidity needs, which are to fund operating expenses, debt service requirements, recurring capital expenditures, tenant allowances, leasing commissions and the minimum distributions required to maintain the Company&#146;s REIT  qualifications under the Internal Revenue Code.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">On December 20, 2002, the Board of Trustees declared a quarterly dividend distribution of $0.44 per share, paid on January 15, 2003 to shareholders of record as of December 31, 2002. Distributions declared in 2002 totaled $1.76 per share as compared to $1.70 per share in 2001, representing an increase of  approximately 3.5%.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company expects to meet its long-term liquidity requirements, such as for property acquisitions, development, investments in real estate ventures, scheduled debt maturities, major renovations, expansions and other significant capital improvements, through borrowings under its Credit Facility, long-term secured  and unsecured indebtedness, the issuance of equity securities and the disposition of certain properties.</div></font></p>
<p align="left"><font face="serif" size="2"><b><i>Non-GAAP Supplemental Financial Measure: Funds from Operations</i></b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Industry analysts generally consider Funds From Operations an alternative measure of performance for an equity REIT. The Board of Governors of the National Association of Real Estate Investment Trusts (&#147;NAREIT&#148;) in its March 1995 White Paper (as clarified by the November 2000 NAREIT National Policy  Bulletin which became effective on January 1, 2000) defines Funds From Operations to mean net income (loss) before minority interests of common unitholders (computed in accordance with GAAP), excluding extraordinary items, as defined by GAAP, and gains and losses from sales of depreciable operating property,  plus real estate related depreciation and amortization (excluding amortization of deferred financing costs and depreciation of non-real estate assets), and after adjustment for unconsolidated partnerships and joint ventures.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">34</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p35"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company considers Funds From Operations an appropriate alternative measure of performance for an equity REIT because it is predicated on cash flow
 analyses. While Funds From Operations is a relevant and widely used measure of operating performance of equity REITs, other equity REITs
  may use  different methodologies for calculating Funds From Operations and, accordingly, Funds From Operations as disclosed by such
   other REITs may not be comparable to Funds From Operations published by the Company in this report. Therefore, the Company believes
    that in order to facilitate a clear understanding of the  historical operating results of the Company, Funds From Operations
	should be examined in conjunction with net income as presented in the financial statements included elsewhere in this report.
	 Funds From Operations should not be considered as a substitute to net income (loss) (computed in accordance with GAAP) as
	   an indicator of the Company&#146;s financial performance or to cash flow from operating activities (computed in accordance
	    with GAAP) as an indicator of the Company&#146;s liquidity, nor is it indicative of funds available to fund the Company&#146;s cash
		 needs, including the Company&#146;s ability to pay dividends or make distributions.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table summarizes FFO for the years ended December 31, 2002 and 2001 (in thousands, except share data):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before net gains on sale, minority interest and</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;extraordinary item:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,192</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,536</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,382</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,395</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,574</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">38,931</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Add (deduct):</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attributable to real property</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,944</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,031</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Attributable to real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,422</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,479</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Amortization attributable to leasing costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,820</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Gain on sale of land interests</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#150;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">881</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Impairment loss on assets held-for-sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">665</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#150;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Gain included in equity in income of real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#150;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(785</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Funds from operations before minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">126,425</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">120,695</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Weighted-average Common Shares (including Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;equivalents) and Operating Partnership units</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">46,928,420</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">47,297,574</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b><i>Inflation</i></b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">A majority of the Company&#146;s leases provide for escalations of real estate taxes and operating expenses either on a triple net basis or over a base amount. In addition, many of the office leases provide for fixed base rent increases. The Company believes that inflationary increases in expenses will be significantly  offset by expense reimbursement and contractual rent increases.</div></font></p>
<p align="left"><font face="serif" size="2"><b><i>Interest Rate Risk and Sensitivity Analysis</i></b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The analysis below presents the sensitivity of the market value of the Company&#146;s financial instruments to selected changes in market rates. The range of changes chosen reflects the Company&#146;s view of changes which are reasonably possible over a one-year period. Market values are the present value of projected  future cash flows based on the market rates chosen.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s financial instruments consist of both fixed and variable rate debt. As of December 31, 2002, the Company&#146;s consolidated debt consisted of $537.1 million in fixed rate mortgages and $60.6 million in variable rate mortgage notes, $307.0 million borrowed under its Credit Facility and $100.0 million  under its Term Loan. All financial instruments were entered into for other than trading purposes and the net market value of these financial instruments is referred to as the net financial position. Changes in interest rates have different impacts on the fixed and variable rate portions of the Company&#146;s debt</div></font></p>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">35</font></p>
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<p align="left"><font face="serif" size="2">portfolio. A change in interest rates on the fixed portion of the debt portfolio impacts the net financial instrument position, but has no impact on interest incurred or cash flows. A change in interest rates on the variable portion of the debt portfolio impacts the interest incurred and cash flows, but does not impact the net  financial instrument position.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company has entered into interest rate swap and rate cap agreements designed to reduce the impact of interest rate changes on its variable rate debt. At December 31, 2002, the Company had interest rate swap agreements for notional principal amounts aggregating $175 million. The swap agreements  effectively fix the LIBOR interest rate on $100 million of Credit Facility borrowings at 4.230% and on $75 million of Credit Facility borrowings at 4.215%, in each case until June 2004. The interest rate cap agreement effectively limits the interest rate on a mortgage with a notional value of $28 million at 8.7% until July  2004. The impact of the cap agreement is recorded as a component of interest expense.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The sensitivity analysis related to the fixed portion of the Company&#146;s debt portfolio assumes an instantaneous 1% move in interest rates from their actual levels at December 31, 2002 with all other variables held constant. As of December 31, 2002, a 1% increase in actual interest rates would result in a decrease in  beneficiaries&#146; equity of $27.6 million and a 1% decrease in actual interest rates would result in an increase in beneficiaries&#146; equity of $30.5 million.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Based on the Company&#146;s variable rate debt as of December 31, 2002, a 1% increase in interest rates would result in an additional $2.6 million in interest expense per year and a 1% decrease would reduce interest expense by $2.6 million per year.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Item 7A. Quantitative and Qualitative Disclosure About Market Risk</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">See discussion in Management&#146;s Discussion and Analysis included in Item 7 herein.</div></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p36a"></a>Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Supplementary Data</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The financial statements and supplementary financial data are listed under Item 15(a) and filed as part of this Annual Report on Form 10-K. See Item 15.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">KPMG LLP is the company&#146;s independent public auditors and also provides the Company with tax compliance and advisory services. The Audit Committee of the Board of Trustees of the Company has approved the provision of services by KPMG to the Company.</div></font></p>
<p align="left"><font face="serif" size="2"><b>Report of Management</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The management of the Company is responsible for the preparation of the financial statements and related financial information included in this annual report. The statements were prepared in conformity with accounting principles generally accepted in the United States of America and, accordingly, include  amounts that are based on informed estimates and judgments.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Management maintains a system of internal controls to provide reasonable assurance that assets are safeguarded and that transactions are properly authorized and accurately recorded. The concept of reasonable assurance is based on the recognition that there are inherent limitations in all systems of internal  accounting control and that the costs of such systems should not exceed the benefits expected to be derived. The Company continually reviews and modifies these systems, where appropriate, to maintain such assurance. The system of internal controls includes careful selection, training and development of operating and  financial personnel, well-defined organizational responsibilities and communication of Company policies and procedures throughout the organization.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The selection of the Company&#146;s independent auditors, KPMG LLP, has been approved by the Board of Trustees. The Audit Committee of the Board of Trustees, comprised solely of outside Trustees, meets</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">36</font></p>
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<p align="left"><font face="serif" size="2">periodically with the Company&#146;s independent auditors and management to review the financial statements and related information and to confirm that they are properly discharging their responsibilities. In addition, the independent auditors meet with the Audit Committee, without the presence of management, to discuss  their findings and their observations on other relevant matters. Recommendations made by KPMG LLP are considered and appropriate action is taken to respond to these recommendations.</font></p>
<p align="left"><font face="serif" size="2">Gerard H. Sweeney, President and Chief Executive Officer<br>
Christopher P. Marr, Senior Vice President and Chief Financial Officer<br>
Bradley W. Harris, Vice President and Chief Accounting Officer</font></p>
<p align="left"><font face="serif" size="2"><b><a name="p37a"></a>Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">On May 23, 2002, the Company dismissed Arthur Andersen LLP as its independent public accountants and appointed KPMG LLP as its new independent public auditors. The decision to dismiss Arthur Andersen and to retain KPMG was approved by the Audit Committee of the Company&#146;s Board of Trustees.  Arthur Andersen&#146;s reports on the Company&#146;s consolidated financial statements as of and for the fiscal years ended December 31, 2001 and 2000 did not contain any adverse opinion or disclaimer or opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During the Company&#146;s two most recent fiscal years ended December 31, 2001 and the subsequent interim period through May 30, 2002, there were no disagreements between the Company and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or  procedure, which disagreements, if not resolved to Arthur Andersen&#146;s satisfaction, would have caused them to make reference to the subject matter of the disagreement in connection with their reports.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">None of the reportable events described under Item 304(a)(1)(v) of Regulation S-K occurred within the Company&#146;s two most recent fiscal years ended December 31, 2001, and the subsequent interim period through May 30, 2002.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company provided Arthur Andersen with a copy of the foregoing disclosures. A copy of Arthur Andersen&#146;s letter, dated May 30, 2002, stating their agreement with these statements is attached as Exhibit 16 to the Company&#146;s Form 8-K filed with the Securities and Exchange Commission on May 30, 2002.  During the Company&#146;s two most recent fiscal years ended December 31, 2001, and the subsequent interim period through May 30, 2002, neither the Company nor anyone acting on behalf of the Company consulted with KPMG regarding any of the matters or events set forth in Item 304(a)(2) of Regulation S-K.</div></font></p>
<p align="center"><font face="serif" size="2"><b>PART III</b></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p37b"></a>Item 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustees and Executive Officers of the Company</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Incorporated herein by reference to the Company&#146;s definitive proxy statement to be filed with respect to its Annual Meeting of Shareholders expected to be held on May 5, 2003.</div></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p37c"></a>Item 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Compensation</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Incorporated herein by reference to the Company&#146;s definitive proxy statement to be filed with respect to its Annual Meeting of Shareholders expected to be held on May 5, 2003.</div></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p37d"></a>Item 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Incorporated herein by reference to the Company&#146;s definitive proxy statement to be filed with respect to its Annual Meeting of Shareholders expected to be held on May 5, 2003.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">37</font></p>
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<p align="left"><font face="serif" size="2"><b><a name="p38a"></a>Item 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain Relationships and Related Transactions</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Incorporated herein by reference to the Company&#146;s definitive proxy statement to be filed with respect to its Annual Meeting of Shareholders expected to be held on May 5, 2003.</div></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p38b"></a>Item 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Controls and Procedures</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Company&#146;s Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commissions rules and forms,  and that such information is accumulated and communicated to the Company&#146;s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Within 90 days prior to the date of this report, the Company&#146;s management, including the Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the design and operation of the Company&#146;s disclosure controls and procedures as defined in Exchange Act Rule 13(a)-  14(c). Based on that evaluation, the Company&#146;s Chief Executive Officer and Chief Financial Officer concluded that the Company&#146;s disclosure controls and procedures were effective as of the date of that evaluation. There have been no significant changes in the Company&#146;s internal controls or in other factors that could  significantly affect the internal controls subsequent to the date the Chief Executive Officer and Chief Financial Officer completed their evaluation.</div></font></p>
<p align="center"><font face="serif" size="2"><b>PART IV</b></font></p>
<p align="left"><font face="serif" size="2"><b><a name="p38c"></a>Item 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits, Financial Statements, Schedules and Reports on Form 8-K</b></font></p>
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    <td width="3%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">1. and 2.&nbsp;&nbsp;<i> Financial Statements and Schedules</i></font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The financial statements and schedules listed below are filed as part of this annual report on the pages indicated.</div></font></p>
<a name="index"></a><p align="center"><font face="serif" size="2"><b>Index to Financial Statements and Schedules</b></font></p>
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    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Page</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf1">Report of Independent Public Auditors</a></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%">&nbsp;</td>
    <td width="10%" align="right" valign="bottom"><font face="serif" size="2"><a href="#pf1">F-1</a></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf2">Consolidated Balance Sheets as of December 31, 2002 and December 31, 2001</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf2">F-2</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf3">Consolidated Statements of Operations for the Years Ended December 31, 2002, 2001 and 2000</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf3">F-3</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf4">Consolidated
          Statements of Beneficiaries&#146; Equity
          and Comprehensive Income for the Years Ended December 31, 2002, 2001
    and 2000</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf4">F-4</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf5">Consolidated Statements of Cash Flows for the Years Ended December 31, 2002, 2001 and 2000</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf5">F-5</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf6">Notes to Consolidated Financial Statements</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf6">F-6</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf25">Schedule
            II &#150; Valuation and Qualifying Accounts</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf25">F-25</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><a href="#pf26">Schedule
            III &#150; Real Estate and Accumulated Depreciation</a></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2"><a href="#pf26">F-26</a></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">38</font></p>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<i>Exhibits</i></div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><i>Exhibits No.</i></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><i>Description</i></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(1) 3.1.1</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="90%"><font face="serif" size="2">Amended and Restated Declaration of Trust of the Company (amended and restated as of May 12, 1997).</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(2) 3.1.2</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Articles of Amendment to Declaration of Trust of the Company (September 4, 1997).</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(3) 3.1.3</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Articles of Amendment to Declaration of Trust of the Company (No. 2).</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(4) 3.1.4</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Articles Supplementary to Declaration of Trust of the Company (September 28, 1998).</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 3.1.5</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Articles of Amendment to Declaration of Trust of the Company (March 19, 1999)</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(6) 3.2</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Bylaws of the Company.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(7) 10.01</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Second Amended and Restated Partnership Agreement of Brandywine Realty Services Partnership.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(8) 10.02</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Form of Warrant issued to Executive Officers. **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.03</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Articles of Incorporation of Brandywine Realty Services Corporation.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.04</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Agreement of Limited Partnership of Brandywine Operating Partnership, L.P. (the &#147;Operating Partnership&#148;).</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.05</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amendment No. 1 to Amended and Restated Agreement of Limited Partnership of the Operating Partnership.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.06</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">First Amendment to Amended and Restated Agreement of Limited Partnership of the Operating Partnership</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.07</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement &#150; PWCC</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.08</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement &#150; Laurel Oak</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(9) 10.09</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement &#150; English Creek</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(10) 10.10</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Second Amendment, dated March 31, 1998, to the Amended and Restated Agreement of Limited Partnership Agreement of Brandywine Operating Partnership, L.P.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(10) 10.11</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement, dated March 31, 1998, by and between Brandywine Operating Partnership, L.P. and Brookstone Investors, L.L.C.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(10) 10.12</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement, dated March 31, 1998, by and between Brandywine Operating Partnership, L.P. and Brookstone Holdings of Del. -4, L.L.C.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(10) 10.13</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement, dated March 31, 1998, by and between Brandywine Operating Partnership, L.P. and Brookstone Holdings of Del. -5, L.L.C.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(10) 10.14</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement, dated March 31, 1998, by and between Brandywine Operating Partnership, L.P. and Brookstone Holdings of Del. -6, L.L.C.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(11) 10.15</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Contribution Agreement, dated April 7, 1998, by and between the entities listed on Schedule thereto and Brandywine Operating Partnership, L.P.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(11) 10.16</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">First Amendment to Contribution Agreement dated May 8, 1998.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(11) 10.17</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Third Amendment, dated May 8, 1998, to the Amended and Restated Agreement of Limited Partnership of Brandywine Operating Partnership, L. P.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(11) 10.18</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Tax Indemnification Agreement dated May 8, 1998, by and between Brandywine Operating Partnership, L.P. and the parties identified on the signature page.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(12) 10.19</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Contribution Agreement dated as of July 10, 1998 (Axinn)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(12) 10.20</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Form of Donald E. Axinn Options **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(12) 10.21</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Form of Mark Hamer Options **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(4) 10.22</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Fourth Amendment to the Amended and Restated Agreement of Limited Partnership of the Operating Partnership creating the Series A Preferred Mirror Units.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(4) 10.23</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Fifth Amendment to the Amended and Restated Agreement of Limited Partnership of the Operating Partnership creating the Series B Preferred Units.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(4) 10.24</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Sixth Amendment to the Amended and Restated Agreement of Limited Partnership of the Operating Partnership</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(4) 10.25</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">First Amendment to Contribution Agreement (Axinn)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">39</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p40"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(13) 10.26</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="90%"><font face="serif" size="2">Form of Board of Trustees Designation Letter (Lazard)</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.27</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Employment Agreement dated as of December 8, 2000 of Anthony A. Nichols, Sr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(6) 10.28</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Agreement dated as of December 31, 2001 with Anthony A. Nichols, Sr. replacing December 8, 2000 Employment Agreement**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.29</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Employment Agreement dated as of May 7, 2002 of Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.30</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Non-Qualified Stock Option Award to Anthony A. Nichols, Sr. **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.31</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Amended and Restated Non-Qualified Stock Option Award to Gerard H. Sweeney **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(16) 10.32</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Awards to Anthony A. Nichols, Sr. **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(16) 10.33</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Awards to Gerard H. Sweeney **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.34</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Long-Term Performance Award for Anthony A. Nichols, Sr. **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.35</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Long-Term Performance Award for Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.36</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Long-Term Performance Award for Anthony S. Rimikis **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(6) 10.37</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Separation Agreement (Jeffrey F. Rogatz)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.38</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (Anthony S. Rimikis) **</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.39</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Third Amendment to Restricted Share Award to Anthony A. Nichols, Sr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.40</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Third Amendment to Restricted Share Award to Gerard H. Sweeney.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.41</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Anthony S. Rimikis.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.42</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Loan Agreement with Gerard H. Sweeney.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(5) 10.43</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Loan Agreement with Anthony A. Nichols, Sr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.44</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Fourth Amendment to Restricted Share Award to Anthony A. Nichols, Sr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.45</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Fourth Amendment to Restricted Share Award to Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.46</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (Barbara L. Yamarick)**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.47</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (Anthony A. Nichols, Jr.)**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.48</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (H. Jeffrey De Vuono)**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.49</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (George Sowa)**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.50</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement (Bradley W. Harris)**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.51</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Anthony A. Nichols, Sr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.52</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.53</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Anthony S. Rimikis**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.54</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Barbara L. Yamarick</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.55</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Anthony A. Nichols, Jr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.56</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to H. Jeffrey De Vuono**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.57</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to George Sowa**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(14) 10.58</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Restricted Share Award to Bradley W. Harris**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.59</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Exchange Agreement (Virginia properties) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.60</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Exchange Agreement (Pennsylvania/New Jersey properties) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.61</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Agreement of Purchase and Sale (Fee Transfer properties) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.62</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Agreement of Purchase and Sale (Entity Transfer properties) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.63</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Contribution Agreement (Joint Venture Interest) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(17) 10.64</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Agreement of Purchase and Sale (935) First Avenue) &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(18) 10.65</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Fourteenth Amendment to Second Amended and Restated Agreement of Limited Partnership of Prentiss &#150; Prentiss Transaction</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(19) 10.66</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Third Amended and Restated Credit Agreement</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(15) 10.67</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2002 Restricted Share Award for Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(15) 10.68</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2002 Form of Restricted Share Award for Executive Officers**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(20) 10.69</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Term Credit Agreement</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(20) 10.70</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Consent and First Amendment to Third Amended and Restated Credit Agreement</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(20) 10.71</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Second Amendment to Third Amended and Restated Credit Agreement</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(21) 10.72</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2002 Restricted Share Award to Christopher P. Marr**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(21) 10.73</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Severance Agreement to Christopher P. Marr</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(22) 10.74</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2002 Non-Qualified Option to Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.75</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Letter to Cohen &amp; Steers</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">40</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p41"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.76</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="90%"><font face="serif" size="2">Executive Deferred Compensation Plan</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.77</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Gerard H. Sweeney**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.78</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Anthony S. Rimikis**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.79</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Barbara L. Yamarick**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.80</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Anthony A. Nichols, Jr.**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.81</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to H. Jeffrey DeVuono**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.82</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to George D. Sowa**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.83</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Bradley W. Harris**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.84</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Brad A. Molotsky**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.85</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">2003 Restricted Share Award to Christopher P. Marr**</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">14.1</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Code of Business Conduct and Ethics</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">21.1</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">List of Subsidiaries of the Company</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">23.1</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Consent of KPMG LLP</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">99.1</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">99.2</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<br>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">1.</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="90%"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated June 9, 1997 and incorporated herein by reference.</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated September 10, 1997 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">3.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated June 3, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">4.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated October 13, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">5.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-K for the fiscal year ended December 31, 1999 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">6.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-K for the fiscal year ended December 31, 2002 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">7.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Registration statement of Form S-11 (File No. 33-4175) and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">8.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated August 22, 1996 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">9.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated December 17, 1997 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">10.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated April 13, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">11.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated May 14, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">12.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated July 30, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">13.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated August 13, 1998 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">41</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p42"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">14.</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="90%"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-K for the fiscal year ended December 31, 2000 and incorporated herein by reference.</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">15.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-Q for the quarter ended June 30, 2002 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">16.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-K for the fiscal year ended December 31, 1997 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">17.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated March 23, 2001 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">18.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated April 23, 2001 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">19.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated July 12, 2001 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">20.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated July 16, 2002 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">21.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 8-K dated August 27, 2002 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">22</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Previously filed as an exhibit to the Company&#146;s Form 10-Q for the quarter ended September 30, 2002 and incorporated herein by reference.</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">**</font></td>
    <td><div align="left"><font face="serif" size="2">Management contract or compensatory plan or arrangement.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="3%"><font face="serif" size="2">(b)</font></td>
    <td><div align="left"><font face="serif" size="2">Reports on Form 8-K</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">&nbsp;</font></td>
    <td><div align="left"><font face="serif" size="2">During the three months ended December 31, 2002 and through March 27, 2003, the Company filed the following:</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="3%"><font face="serif" size="2">(i)</font></td>
    <td><div align="left"><font face="serif" size="2">Current Report on Form 8-K filed February 28, 2003 (reporting under Item 7 and 12).</font></div></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">42</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="p43"></a>
<p><a href="#contents"><font size="2">Back to Contents</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">
  <div align="center"><font size="2"><b>SIGNATURES</b></font></div>
</div>
</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Pursuant to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div></font></p>

<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="40%"><font face="serif" size="2">BRANDYWINE REALTY TRUST</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">By: /s/ Gerard H. Sweeney</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2"><hr noshade size="1" width="200" align="left"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gerard H. Sweeney</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="left" valign="bottom"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>


<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Pursuant to the requirements of the Securities and Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant in the capacities and on the dates indicated.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Signature</b></font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Title</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Date</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><hr noshade size="1"></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="60%"><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2"><hr noshade size="1"></font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Anthony A. Nichols, Sr.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Chairman of the Board and Trustee</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><hr noshade size="1" width="200" align="left"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Anthony A. Nichols, Sr.</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Gerard H. Sweeney</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">President, Chief Executive Officer and Trustee</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><hr noshade size="1" width="200" align="left"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Gerard H. Sweeney</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">(Principal Executive Officer)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Christopher P. Marr</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Senior Vice President and Chief Financial</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><hr noshade size="1" width="200" align="left"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>

  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Christopher P. Marr</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Officer (Principal Financial Officer)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Bradley W. Harris</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Vice President and Chief Accounting Officer</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><hr noshade size="1" width="200" align="left"></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">(Principal Accounting Officer)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>

  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Bradley W. Harris</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Walter D&#146;Alessio</font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Walter D&#146;Alessio</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Charles P. Pizzi</font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Charles P. Pizzi</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Donald E. Axinn</font></div></td>
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    <td align="right" valign="bottom"><font face="serif" size="2">March 27, 2003</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Donald E. Axinn</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ Robert C. Larson</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Robert C. Larson</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">/s/ D. Pike Aloian</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">D. Pike Aloian</font></div></td>
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<p align="center"><font face="serif" size="2">43</font></p>
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<p align="center"><font face="serif" size="2"><b>CERTIFICATIONS PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</b><br>
<br>
CERTIFICATION OF CHIEF EXECUTIVE OFFICER</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">I, Gerard H. Sweeney, certify that:</div></font></p>
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    <td width="3%"><font face="serif" size="2">1.</font></td>
    <td><div align="left"><font face="serif" size="2">I have reviewed this annual
          report on Form 10-K of Brandywine Realty Trust.</font></div></td>
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    <td width="3%"><font face="serif" size="2">2.</font></td>
    <td><div align="left"><font face="serif" size="2">Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;</font></div></td>
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    <td width="3%"><font face="serif" size="2">3.</font></td>
    <td><div align="left"><font face="serif" size="2">Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;</font></div></td>
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    <td width="3%"><font face="serif" size="2">4.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:</font></div></td>
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    <td width="3%"><font face="serif" size="2">a)</font></td>
    <td><div align="left"><font face="serif" size="2">designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;</font></div></td>
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    <td width="3%"><font face="serif" size="2">b)</font></td>
    <td><div align="left"><font face="serif" size="2">evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the &#147;Evaluation Date&#148;); and</font></div></td>
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    <td width="3%"><font face="serif" size="2">c)</font></td>
    <td><div align="left"><font face="serif" size="2">presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;</font></div></td>
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    <td width="3%"><font face="serif" size="2">5.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant&#146;s auditors and the audit committee of registrant&#146;s board of directors (or persons performing the equivalent function):</font></div></td>
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    <td width="3%"><font face="serif" size="2">a)</font></td>
    <td><div align="left"><font face="serif" size="2">all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant&#146;s ability to record, process, summarize and report financial data and have identified for the registrant&#146;s auditors any material weaknesses in internal controls; and</font></div></td>
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    <td width="3%"><font face="serif" size="2">b)</font></td>
    <td><div align="left"><font face="serif" size="2">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal controls; and</font></div></td>
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    <td width="3%"><font face="serif" size="2">6.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">March 27, 2003</font></div></td>
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    <td valign="bottom" width="40%"><font face="serif" size="2">/s/ Gerard H. Sweeney</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Date</font></div></td>
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    <td valign="bottom"><font face="serif" size="2">Gerard H. Sweeney</font></td>
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    <td align="left" valign="bottom"><font face="serif" size="2">President and Chief Executive Officer</font></td>
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<p align="center"><font face="serif" size="2">CERTIFICATION OF CHIEF FINANCIAL OFFICER</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">I, Christopher P. Marr, certify that:</div></font></p>
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    <td width="3%"><font face="serif" size="2">1.</font></td>
    <td><div align="left"><font face="serif" size="2">I have reviewed this annual report on Form 10-K of Brandywine Realty Trust.</font></div></td>
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    <td width="3%"><font face="serif" size="2">2.</font></td>
    <td><div align="left"><font face="serif" size="2">Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report;</font></div></td>
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    <td width="3%"><font face="serif" size="2">3.</font></td>
    <td><div align="left"><font face="serif" size="2">Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this annual report;</font></div></td>
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    <td width="3%"><font face="serif" size="2">4.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:</font></div></td>
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    <td width="3%"><font face="serif" size="2">a)</font></td>
    <td><div align="left"><font face="serif" size="2">designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;</font></div></td>
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    <td width="3%"><font face="serif" size="2">b)</font></td>
    <td><div align="left"><font face="serif" size="2">evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures as of a date within 90 days prior to the filing date of this annual report (the &#147;Evaluation Date&#148;); and</font></div></td>
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    <td width="3%"><font face="serif" size="2">c)</font></td>
    <td><div align="left"><font face="serif" size="2">presented in this annual report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;</font></div></td>
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    <td width="3%"><font face="serif" size="2">5.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant&#146;s auditors and the audit committee of registrant&#146;s board of directors (or persons performing the equivalent function):</font></div></td>
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    <td width="3%"><font face="serif" size="2">a)</font></td>
    <td><div align="left"><font face="serif" size="2"> all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant&#146;s ability to record, process, summarize and report financial data and have identified for the registrant&#146;s auditors any material weaknesses in internal controls; and</font></div></td>
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    <td width="3%"><font face="serif" size="2">b)</font></td>
    <td><div align="left"><font face="serif" size="2">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal controls; and</font></div></td>
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    <td width="3%"><font face="serif" size="2">6.</font></td>
    <td><div align="left"><font face="serif" size="2">The registrant&#146;s other certifying officer and I have indicated in this annual report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.</font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">March 27, 2003</font></div></td>
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    <td valign="bottom" width="40%"><font face="serif" size="2">/s/ Christopher P. Marr</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Date</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">Christopher P. Marr</font></td>
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    <td align="left" valign="bottom"><font face="serif" size="2">Senior Vice President and Chief Financial Officer</font></td>
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<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">45</font></p>
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<p align="left"><font face="serif" size="2">REPORT OF INDEPENDENT AUDITORS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">To the Shareholders and Board of Trustees of Brandywine Realty Trust:</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We have audited the consolidated balance sheets of Brandywine Realty Trust and subsidiaries as of December 31, 2002 and 2001, and the related consolidated statements of operations, beneficiaries&#146; equity and comprehensive income and cash flows for each of the years  in the three-year period ended December 31, 2002. In connection with our audits of the consolidated financial statements, we have also audited the financial statement schedules as listed in the accompanying index. These consolidated financial statements and financial statement  schedules are the responsibility of the Company&#146;s management. Our responsibility is to express an opinion on these consolidated financial statements and schedules based on our audits.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial  statement presentation. We believe that our audits provide a reasonable basis for our opinion.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Brandywine Realty Trust and subsidiaries as of December 31, 2002 and 2001, and the results of their operations and their cash flows for  each of the years in the three-year period ended December 31, 2002, in conformity with accounting principles generally accepted in the United States. Also in our opinion, the related financial statement schedules, when considered in relation to the basic consolidated financial  statements taken as a whole, present fairly, in all material respects, the information set forth therein.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As discussed in Note 2 to the consolidated financial statements, effective January 1, 2002, the Company adopted Statement of Financial Accounting Standards No. 144, <i>Accounting for the Impairment or Disposal of Long-Lived Assets.</i></div></font></p>

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    <td valign="bottom" width="48%"><font face="serif" size="2">/s/ KPMG LLP</font></td>
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<p align="left"><font face="serif" size="2">Philadelphia, Pennsylvania<br>
February 26, 2003</font></p>
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<p align="center"><font face="serif" size="2">F-1</font></p>
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<p align="center"><font face="serif" size="2"><b>BRANDYWINE REALTY TRUST<br>
  CONSOLIDATED
      BALANCE SHEETS<br>
  (in thousands, except number of shares)</b></font></p>
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    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>December 31,</b></font></td>
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    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>ASSETS</b></font></div></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Real estate investments:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Operating properties</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,890,009</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,893,039</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Accumulated depreciation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(245,230</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(230,793</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
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  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,644,779</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,662,246</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Construction-in-progress</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">58,127</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">111,378</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Land held for development</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">43,075</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">39,285</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,745,981</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,812,909</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cash and cash equivalents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,801</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,459</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Escrowed cash</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,318</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,311</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Accounts receivable, net</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,657</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,394</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Accrued rent receivable, net</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28,333</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25,222</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Marketable securities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,872</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,735</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Assets held for sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,666</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Investment in real estate ventures, at equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19,067</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Deferred costs, net</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,271</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24,261</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Other assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,547</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">31,845</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,919,288</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,960,203</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>LIABILITIES AND BENEFICIARIES&#146; EQUITY</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Mortgage notes payable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">597,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">614,840</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Borrowings under Credit Facility</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">307,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">394,325</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Unsecured term loan</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Accounts payable and accrued expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27,576</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,054</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Distributions payable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,186</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,525</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Tenant security deposits and deferred rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,276</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,290</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Other liabilities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,006</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,179</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Liabilities related to assets held for sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total liabilities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,097,793</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,108,213</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">135,052</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">143,834</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Commitments and contingencies</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Beneficiaries&#146; equity:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Preferred Shares (shares authorized-10,000,000):</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.25% Series A Preferred Shares, $0.01 par value;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding-750,000</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in 2002 and 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.75% Series B Preferred Shares, $0.01 par value;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding-4,375,000</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in 2002 and 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Common Shares of beneficial interest, $0.01 par value;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized-100,000,000; issued and outstanding-</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35,226,315 in 2002 and 35,640,935 in 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">352</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">356</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Additional paid-in capital</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">841,659</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">848,213</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Share warrants</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">401</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">401</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cumulative earnings</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">225,010</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">163,502</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Accumulated other comprehensive loss</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,402</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(4,587</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cumulative distributions</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(374,629</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(299,781</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total beneficiaries&#146; equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">686,443</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">708,156</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total liabilities and beneficiaries&#146; equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,919,288</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,960,203</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">The accompanying notes are an integral part of these consolidated financial statements.</font></p>
<p align="left"><font face="serif" size="2">&nbsp;</font></p>
<p align="center"><font face="serif" size="2">F-2</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf3"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="center"><font face="serif" size="2"><b>BRANDYWINE REALTY TRUST<br>
CONSOLIDATED STATEMENTS OF OPERATIONS<br>
  (in
      thousands, except per share information)</b></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Year ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">253,338</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">233,612</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">218,520</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,624</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,470</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,898</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,464</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,962</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">296,730</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,546</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">255,380</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Operating Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">76,746</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">72,492</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,483</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25,854</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,077</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,731</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">63,522</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,385</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,746</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">57,599</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,047</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,316</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Management fees</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,867</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Administrative expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,804</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,177</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,249</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Non-recurring charges</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">238,525</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">252,778</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">220,392</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before equity in income of management</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;company, equity in income of real estate ventures, net gains on sales</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;and minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">58,205</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,988</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity in income of management company</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">164</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity in income of real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">987</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,797</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations before net gains on sales and</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,192</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,536</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">37,949</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net gains on sales of interests in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,524</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,638</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before minority interest and extraordinary items</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,192</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">31,060</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,587</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest attributable to continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(9,375</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,915</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(8,904</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,817</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,145</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,683</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Discontinued operations:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Income from discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,382</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,395</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,169</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Net gain on disposition of discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,562</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(777</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(707</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(694</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,167</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,475</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,833</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,722</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Preferred Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">51,078</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,252</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Basic earnings per Common Share:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.37</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.33</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.32</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(0.03</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.40</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Diluted earnings per Common Share:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.02</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.37</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.33</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.32</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(0.03</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.39</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">The accompanying notes are an integral part of these consolidated financial statements.</font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-3</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf4"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="center"><font face="serif" size="2"><b>BRANDYWINE REALTY TRUST<br>
  CONSOLIDATED
      STATEMENTS OF BENEFICIARIES&#146; EQUITY AND COMPREHENSIVE INCOME<br>
  For the
      years ended December 31, 2002, 2001 and 2000<br>
      (in thousands, except number of shares)</b></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Number of Preferred A Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Par Value of Preferred A Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Number of Preferred B Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Par Value of Preferred B Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Number of Common Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Par Value of Common Shares</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Additional Paid- in Capital</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Employee Stock Loans</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Share Warrants</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Cumulative Earnings</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Accumulated Other Comprehensive Income (Loss)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Cumulative Distributions</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Total</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">BALANCE, January 1, 2000</font></div></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">750,000</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">8</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">4,375,000</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">44</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">36,372,590</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">364</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">863,962</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">(4,640</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="1">)</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">908</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">79,384</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">&#151;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">(155,778</font></td>
    <td valign="bottom" width="2%"><font face="serif" size="1">)</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">784,252</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Comprehensive
          income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
          income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">52,158</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">52,158</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
          comprehensive income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
          loss on available-for-sale securities</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
          other comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Total
          comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">50,427</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Vesting of Restricted Stock</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">106,453</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,897</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,897</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Repurchase of Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(957,729</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(9</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(15,268</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">(15,277)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Employee stock loans used to purchase Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">160,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">2,498</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(2,500</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Payment/forgiveness of employee stock loans</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">303</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">303</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Accretion of Preferred Share discount</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">286</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(286</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Preferred Share distributions</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Distributions ($1.62 per share)</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(58,528</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(58,528</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><hr noshade size="1"></td>
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  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">BALANCE, December 31, 2000</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">750,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">8</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,375,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">44</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">35,681,314</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">357</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">854,375</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(6,837</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">908</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">131,256</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(226,212</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">752,168</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Comprehensive
    income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
    income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">33,722</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">33,722</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
    comprehensive income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cumulative
    effect of adopting SFAS 133</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,300</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
    loss on derivative financial instruments</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(3,371</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
    gain on available-for-sale securities</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,815</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    other comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(2,856</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(2,856)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Total
    comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">30,866</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Vesting
    of Restricted Stock</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">175,411</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,983</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">3,985</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Repurchase
    of Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">(373,713</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(4</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Employee
    stock loans used to purchase Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">71,276</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,385</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,386</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Payment/forgiveness
    of employee stock loans</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,524</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,524</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Accretion
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,476</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,476</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Exercise
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">86,647</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(507</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
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    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(61,663</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(61,663</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">BALANCE, December 31, 2001</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">750,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">8</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,375,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">44</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">35,640,935</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">356</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">853,912</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(5,699</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">401</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">163,502</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(4,587</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(299,781</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">708,156</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Comprehensive
    income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
    income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">62,984</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">62,984</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
    comprehensive income:</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
    loss on derivative financial instruments</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(2,548</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized
    gain on available-for-sale securities</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">733</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total
    other comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,815</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(1,815</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Total
    comprehensive income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">61,169</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Vesting
    of Restricted Stock</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">76,454</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,895</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,896</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Repurchase
    of Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(491,074</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(5</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(11,048</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(11,053</font></td>
    <td valign="bottom"><font face="serif" size="1">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">&nbsp;&nbsp;&nbsp;Employee
    stock loans used to purchase Common Shares</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Payment/forgiveness of employee stock loans</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">1,658</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">1,658</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Accretion of Preferred Share discount</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">1,476</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(1,476</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&#151;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Amortization of stock options</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">43</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">43</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Exercise of warrants/options</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(578</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(578</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Preferred Share distributions</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(11,906</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(11,906</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">Distributions ($1.76 per share)</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
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    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
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    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
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    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(62,942</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(62,942</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
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    <td><font size="1" face="serif">&nbsp;</font></td>
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    <td><font size="1" face="serif">&nbsp;</font></td>
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    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
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    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
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    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
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  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font size="1" face="serif">BALANCE, December 31, 2002</font></div></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">750,000</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">8</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">4,375,000</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">44</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">35,226,315</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">352</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">845,700</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(4,041</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">401</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">225,010</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(6,402</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">(374,629</font></td>
    <td valign="bottom"><font size="1" face="serif">)</font></td>
    <td valign="bottom"><font size="1" face="serif">$</font></td>
    <td align="right" valign="bottom"><font size="1" face="serif">686,443</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1" face="serif">&nbsp;</font></td>
    <td><font size="1" face="serif">&nbsp;</font></td>
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<p align="left"><font face="serif" size="2">The accompanying notes are an intergral part of these consolidated financial statements.</font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-4</font></p>
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<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="center"><font face="serif" size="2"><b>BRANDYWINE REALTY TRUST<br>
  CONSOLIDATED
      STATEMENTS OF CASH FLOWS<br>
  (in thousands)</b></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Year ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
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  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Cash flows from operating activities:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">62,984</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">33,722</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash from operating activities:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,944</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,031</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,041</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred financing costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,795</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,679</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,478</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred leasing costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,820</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,158</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,971</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,182</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,710</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,685</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Straight-line rental income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(5,930</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,206</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,396</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for doubtful accounts</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">894</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,867</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">332</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in income of management company</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(164</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in income of real estate ventures in excess of cash distributions received</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(354</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net gain on sales of interests in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(8,562</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(4,524</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,638</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-recurring charge</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment loss on assets held-for-sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">665</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Extraordinary items</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,111</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,582</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(212</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,414</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,029</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,464</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(8,480</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,040</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,292</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,715</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenant security deposits and deferred rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(521</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,058</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,639</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,158</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,332</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from operating activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">118,684</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">143,418</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">103,123</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Cash flows from investing activities:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Acquisition of properties</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(25,146</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(40,359</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,010</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Sales of properties</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">78,019</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">31,335</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">101,075</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Capital expenditures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(38,787</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(107,405</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(113,137</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Investment in real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(446</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,495</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,748</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Increase in escrowed cash</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,553</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,016</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(3,974</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Cash distributions from real estate ventures in excess of income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,969</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,492</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Leasing costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(13,124</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(9,234</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,578</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from investing activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,038</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(123,682</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(32,372</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Cash flows from financing activites:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Proceeds from notes payable, Credit Facility</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">91,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">71,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Repayment of notes payable, Credit Facility</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(102,325</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(35,000</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(109,500</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Proceeds from Term Loan</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Proceeds from mortgage notes payable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,186</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">135,165</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">107,397</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Repayment of mortgage notes payable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(48,646</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(127,876</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(42,412</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Debt financing costs</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(658</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(5,557</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,656</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Repayments on employee stock loans</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,658</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,024</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Repurchases of Common Shares and minority interest units</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(20,165</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,494</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(15,277</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>

   <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Distributions to minority interest holders in excess of income allocated</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(408</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,045</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(945</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>


  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Distributions paid to shareholders</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(75,022</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(72,534</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(69,010</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash from financing activities</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(110,380</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(22,317</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(60,403</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">(Decrease) increase in cash and cash equivalents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,342</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,581</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,348</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cash and cash equivalents at beginning of year</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,459</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,040</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,692</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Cash and cash equivalents at end of year</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,801</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,459</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,040</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">The accompanying notes are an integral part of these consolidated financial statements.</font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-5</font></p>
<hr noshade align="center" width="100%" size="2">
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<p align="center"><font face="serif" size="2"><b>BRANDYWINE REALTY TRUST<br>
  NOTES
      TO CONSOLIDATED FINANCIAL STATEMENTS<br>
  DECEMBER 31, 2002, 2001 AND 2000</b></font></p>
<p align="left"><font face="serif" size="2">1. ORGANIZATION AND NATURE OF OPERATIONS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Brandywine Realty Trust, a Maryland Real Estate Investment Trust (collectively with its subsidiaries, the &#147;Company&#148;), is a self-administered and self-managed real estate investment trust (a &#147;REIT&#148;) active in acquiring, developing, redeveloping, leasing and managing office and industrial properties. As of  December 31, 2002, the Company&#146;s portfolio included 210 office properties, 27 industrial facilities and one mixed-use property (collectively, the &#147;Properties&#148;) that contained an aggregate of 16.1 million net rentable square feet. The Properties are located in the office and industrial markets in and surrounding Philadelphia,  Pennsylvania, New Jersey and Richmond, Virginia. As of December 31, 2002, the Company also held economic interests in ten unconsolidated real estate ventures (the &#147;Real Estate Ventures&#148;) formed with third parties to develop commercial properties.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s interest in its assets is held through Brandywine Operating Partnership, L.P., a Delaware limited partnership (the &#147;Operating Partnership&#148;). The Company is the sole general partner of the Operating Partnership and, as of December 31, 2002, was entitled to approximately 94.9% of the Operating  Partnership&#146;s distributions after distributions to holders of Series B Preferred Units (as defined in Note 3 below). The Operating Partnership owns a 95% interest in a taxable REIT subsidiary, Brandywine Realty Services Corporation, a Pennsylvania corporation (the &#147;Management Company&#148;), that, as of December 31,  2002, was performing management and leasing services for properties containing an aggregate of approximately 19.0 million net rentable square feet, of which 15.9 million net rentable square feet related to properties owned by the Company and approximately 3.1 million net rentable square feet related to properties  owned by unaffiliated third parties. The remaining 5% of the Management Company is owned by a partnership comprised of two executives of the Company.</div></font></p>
<p align="left"><font face="serif" size="2">2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></p>
<p align="left"><font face="serif" size="2">Principles of Consolidation</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The consolidated financial statements include the accounts of the Company and the Operating Partnership. The portion of the Operating Partnership not owned by the Company is presented as minority interest. All intercompany accounts and transactions have been eliminated in consolidation. Certain amounts  reported in prior years have been reclassified for comparative purposes.</div></font></p>
<p align="left"><font face="serif" size="2">Management Company</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Management Company, a taxable REIT subsidiary, provides management, leasing, construction, development, redevelopment and other real estate related services for the Company&#146;s properties and for third parties. Prior to December 31, 2000, the Company owned 100% of the Management Company&#146;s non-  voting preferred stock and 5% of its voting common stock and accounted for its investment using the equity method. Effective January 1, 2001, the Company converted its non-voting interest in the Management Company to a voting interest. As a result, the Company owns 95% of the Management Company&#146;s equity, has  voting control and, therefore, has consolidated the Management Company since January 1, 2001.</div></font></p>
<p align="left"><font face="serif" size="2">Use of Estimates</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the  financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div></font></p>
<p align="left"><font face="serif" size="2">Operating Properties</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Operating properties are carried at the lower of historical cost less accumulated depreciation and impairment losses. The cost of operating properties includes the purchase price or development costs of the properties. Costs incurred for</div></font></p>
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<p align="left"><font face="serif" size="2">the acquisition, renovation and betterment of the operating properties are capitalized to the Company&#146;s investment in that property. Maintenance and repairs are charged to expense as incurred.</font></p>
<p align="left"><font face="serif" size="2">Depreciation and Amortization</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The costs of buildings and improvements are depreciated using the straight-line method based on the following useful lives: buildings and improvements (5 to 40 years) and tenant improvements over the shorter of the lease term or the life of the asset.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Effective
  January 1, 2002, the Company changed the estimated useful lives of various
  buildings from 25 to 40 years. This change resulted in an increase of net income
  of $19.0 million or $.53 per share for the year ended December 31, 2002. Management
  determined the longer period to be a better estimate of the useful lives of
  the buildings.</div>
</font></p>
<p align="left"><font face="serif" size="2">Construction in Progress</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Project costs clearly associated with the development and construction of a real estate project are capitalized as construction in progress. In addition, interest, real estate taxes and general and administrative expenses that are directly associated with and incremental to the Company&#146;s development activities are  capitalized during the period in which activities necessary to get the property ready for its intended use are in progress. Once the development and construction of the building shell of a real estate project is completed, the costs capitalized to construction in progress are transferred to land and buildings. Direct construction  costs totaling $2.2 million in 2002, $2.7 million in 2001 and $1.8 million in 2000 and interest totaling $2.9 million in 2002, $5.2 million in 2001 and $8.2 million in 2000 were capitalized related to development of certain Properties and land holdings.</div></font></p>
<p align="left"><font face="serif" size="2">Impairment of Long-Lived Assets</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Statement of Financial Accounting Standards No. 144 (&#147;SFAS 144&#148;), <i>Accounting for the Impairment or Disposal of Long-Lived Assets, </i>provides a single accounting model for long-lived assets as held-for-sale, broadens the scope of businesses to be disposed of that qualify for reporting as discontinued operations  and changes the timing of recognizing losses on such operations. The Company adopted SFAS 144 on January 1, 2002.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In accordance with SFAS 144, long-lived assets, such as real estate
investments and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and  used is measured by a comparison of the
carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an
asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset
exceeds the fair value of the asset. Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the
carrying amount or fair value less costs to sell, and are no longer depreciated. The other assets and liabilities related to assets classified
as held-for-sale are presented separately in the consolidated balance sheet.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Prior to adoption of SFAS 144, the Company accounted for the impairment of long-lived assets in accordance with SFAS 121, <i>Accounting for Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed of.</i></div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company recorded impairment losses of $665,000 for the year ended December 31, 2002 relating to assets held-for-sale. The Company recorded no impairment losses for the years ended December 31, 2001 and 2000.</div></font></p>
<p align="left"><font face="serif" size="2">Cash and Cash Equivalents</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Cash equivalents are highly-liquid investments with original maturities of three months or less. The Company maintains cash equivalents in financial institutions in excess of insured limits.</div></font></p>
<p align="left"><font face="serif" size="2">Restricted Cash</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Restricted cash consists of cash held as collateral to provide credit enhancement for the Company&#146;s mortgage debt, cash for property taxes, capital expenditures and tenant improvements.</div></font></p>
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<p align="left"><font face="serif" size="2">Accounts Receivable</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Leases with tenants are accounted for as operating leases. Minimum annual rentals under tenant leases are recognized on a straight-line basis over the term of the related lease. Accrued rent receivable represents the amount that straight-line rental income exceeds rents currently due under the lease agreements.  Included in current tenant receivables are tenant reimbursements which are comprised of amounts recoverable from tenants for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred. As of December 31, 2002 and  2001, no tenant represents more than 10% of accounts receivable.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Tenant receivables and accrued rent receivables are carried net of the allowances for doubtful accounts of $2.3 million and $2.3 million in 2002 and $2.5 million and $2.0 million in 2001. Management&#146;s determination of the adequacy of these allowances is based primarily upon evaluations of historical loss  experience, individual receivables and current economic conditions.</div></font></p>
<p align="left"><font face="serif" size="2">Deferred Costs</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Costs incurred in connection with property leasing are capitalized as deferred leasing costs. Deferred leasing costs consist primarily of leasing commissions that are amortized on the straight-line method over the life of the respective lease which generally ranges from one to 15 years. Management re-evaluates the  remaining useful lives of leasing costs as economic and market conditions change. Internal direct leasing costs deferred totaled $3.6 million in 2002, $3.1 million in 2001 and $2.5 million in 2000.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Costs incurred in connection with debt financing are capitalized as deferred financing costs. Deferred financing costs consist primarily of loan fees which are amortized over the related loan term. Total accumulated amortization related to these costs was $14.9 million in 2002 and $11.8 million in 2001.</div></font></p>
<p align="left"><font face="serif" size="2">Other Assets</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, other assets included a direct financing lease of $16.0 million, prepaid real estate taxes of $5.6 million, promissory notes of $4.0 million, furniture, fixtures and equipment of $2.1 million and $6.8 million of other assets. As of December 31, 2001, other assets included a direct financing  lease of $16.0 million, prepaid real estate taxes of $5.5 million, deposits on properties to be purchased in 2002 totaling $4.0 million, furniture, fixtures and equipment of $2.7 million and $3.6 million of other assets.</div></font></p>
<p align="left"><font face="serif" size="2">Marketable Securities</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company accounts for its investments in equity securities according to the provisions of SFAS 115, <i>Accounting for Certain Investments in Debt and Equity Securities, </i>which requires securities classified as &#147;available-for-sale&#148; to be stated at fair value. Adjustments to fair value of available-for-sale securities  are recorded as a component of other comprehensive income (loss). A decline in the market value of equity securities below cost that is deemed to be other than temporary results in a reduction in the carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established.</div></font></p>
<p align="left"><font face="serif" size="2">Intangible Assets</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">On January 1, 2002, the Company adopted the provisions of SFAS 141, <i>Business Combinations. </i>This statement makes significant changes to the accounting for business combinations, goodwill, and intangible assets. Among other provisions, SFAS 141 requires that a portion of the purchase price of real estate  acquisitions be assigned to the fair value of an intangible asset for above market operating leases or a liability for below market operating leases. Such intangible assets or liabilities are then required to be amortized into revenue over the remaining life of the related leases. Accordingly, during 2002, the Company recorded  an intangible asset related to the origination value of acquired leases of $1.2 million (included in deferred costs), an acquired lease asset of $.7 million for above market leases (included in other assets) and an acquired lease liability of $2.1 million for below market leases (included in other liabilities). Amortization  expense recorded during 2002 for the origination value of acquired leases totaled $256,000. The amortization of acquired leases resulted in a net increase in rental revenue of $459,000 during 2002. Management reviews the carrying value of intangible assets for impairment on an annual basis.</div></font></p>
<p align="left"><font face="serif" size="2">As of December 31, 2002, intangible assets and acquired lease liabilities consist of the following (in thousands):</font></p>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Intangible assets:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Acquired lease asset, net of accumulated amortization of $99</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">607</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Origination value, net of accumulated amortization of $256</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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    <td align="right" valign="bottom"><font face="serif" size="2">959</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intangible assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,566</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Acquired lease liability, net of accumulated amortization of $558</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,547</font></td>
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<p align="left"><font face="serif" size="2">Fair Value of Financial Instruments</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Carrying amounts reported in the balance sheet for cash, accounts receivable, other assets, accounts payable and accrued expenses, and borrowings under the Credit Facility approximate fair value due to the nature of these instruments. Accordingly, these items have been excluded from the fair value disclosures.</div></font></p>
<p align="left"><font face="serif" size="2">Revenue Recognition</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Rental revenue is recognized on a straight-line basis over the lease term regardless of when payments are due. Deferred rental revenue represents rental revenue received from tenants prior to their due dates. The straight-line rent adjustment increased revenue by approximately $5.9 million in 2002, $6.2 million in  2001 and $6.4 million in 2000. Certain lease agreements contain provisions that require tenants to reimburse a pro rata share of real estate taxes and certain common area maintenance costs.</div></font></p>
<p align="left"><font face="serif" size="2">No tenant represented greater than 10% of the Company&#146;s rental revenue in 2002, 2001 or 2000.</font></p>
<p align="left"><font face="serif" size="2">Income Taxes</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company elects to be taxed as a real estate investment trust under Sections 856-860 of the Internal Revenue Code. In management&#146;s opinion, the requirements to maintain this election are being met. Accordingly, no provision for Federal income taxes has been reflected in the financial statements.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Earnings and profits, which determine the taxability of distributions to shareholders, differ from net income reported for financial reporting purposes due to differences in cost basis, the estimated useful lives used to compute depreciation, and the allocation of net income and loss for financial versus tax reporting  purposes. The tax basis in the Company&#146;s assets was $1.3 billion as of December 31, 2002.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company is subject to a 4% Federal excise tax, if sufficient taxable income is not distributed within prescribed time limits. The excise tax equals 4% of the annual amount, if any, by which the sum of (a) 85% of the Company&#146;s ordinary income and (b) 95% of the Company&#146;s net capital gain exceeds cash  distributions and certain taxes paid by the Company. No excise tax was incurred in 2002, 2001, or 2000.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Management Company is subject to Federal and state income taxes. The operating results of the Management Company include a provision for income taxes of $115,000 in 2000. There was no provision required for income taxes in 2002 and 2001.</div></font></p>
<p align="left"><font face="serif" size="2">Earnings Per Share</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Basic earnings per share is calculated by dividing income applicable to Common Shares by the weighted-average number of shares outstanding during the period. Diluted earnings per share includes the effect of common share equivalents outstanding during the period.</div></font></p>
<p align="left"><font face="serif" size="2">Stock-Based Compensation Plans</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In December 2002, the Financial Accounting Standards Board (&#147;FASB&#148;) issued SFAS 148, <i>Accounting for Stock-Based Compensation &#151; Transition and Disclosure. </i>SFAS 148 amends SFAS 123, <i>Accounting for Stock-Based Compensation, </i>to provide alternative methods of transition for an entity that voluntarily  adopts the fair value recognition method of recording stock option expense. SFAS 148 also amends the disclosure provisions of SFAS 123 and APB Opinion No. 28, <i>Interim Financial Reporting, </i>to require disclosure in the summary of significant accounting policies of the effects of an entity&#146;s accounting policy with  respect to stock options on reported net income and earnings per share in annual and interim financial statements.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">At December
  31, 2002, the Company had one stock option and incentive plan, which is described
  more fully in Note 11. Effective January 1, 2002, the Company voluntarily adopted
  the fair value recognition provisions of SFAS 123</div>
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<p align="left"><font face="serif" size="2">prospectively for all employee stock option awards granted or modified after January 1, 2002. Under the fair value recognition provisions of SFAS 123, total compensation expense related to stock options is determined using the fair value of the stock options on the date of grant. Total compensation expense is then  recognized on a straight-line basis over the option vesting period</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Prior to 2002, the Company accounted for stock options issued under the recognition and measurement provisions of APB Opinion No. 25, <i>Accounting for Stock Issued to Employees and related Interpretations. </i>As a result, no stock option expense is reflected in 2001 or 2000 net income, as all stock options  granted under the plan had an exercise price equal to the market value of the underlying common stock on the date of grant. The following table illustrates the effect on net income and earnings per share if the fair value based method had been applied to all outstanding and unvested awards in each period (in thousands,  except per share amounts):</div></font></p>
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    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income available to Common Shares, as reported</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">51,078</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">21,816</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">40,252</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
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    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Add: Stock based compensation expense included in reported net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,553</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,828</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,931</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Deduct: Total stock based compensation expense determined under fair value</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;recognition method for all awards</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(3,231</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(3,506</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(2,609</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma net income available to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50,400</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,138</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">39,574</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Basic &#151; as reported</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.40</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Basic &#151; pro forma</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.38</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.55</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Diluted &#151; as reported</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.39</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Diluted &#151; pro forma</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.37</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.55</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">Comprehensive Income</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Comprehensive income or loss is recorded in accordance with the provisions of SFAS 130, <i>Reporting Comprehensive Income. </i>SFAS 130 establishes standards for reporting comprehensive income and its components in financial statements. Comprehensive income includes unrealized gains and losses on  available-for-sale securities and the effective portions of changes in the fair value of derivatives.</div></font></p>
<p align="left"><font face="serif" size="2">Accounting for Derivative Instruments and Hedging Activities</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Effective January 1, 2001, the Company adopted SFAS 133, <i>Accounting for Derivative Instruments and Hedging Activities, </i>and its corresponding amendments under SFAS 138. SFAS 133 requires the Company to measure every derivative instrument (including certain derivative instruments embedded in other  contracts) at fair value and record them in the balance sheet as either an asset or liability. For derivatives designated as fair value hedges, the changes in fair value of both the derivative instrument and the hedged item are recorded in earnings. For derivatives designated as cash flow hedges, the effective portions of  changes in the fair value of the derivative are reported in other comprehensive income. These amounts are subsequently reclassified to interest expense as a yield adjustment of the hedged interest payments in the same period in which the related interest affects earnings. The ineffective portions of cash flow hedges are  recognized in earnings in the current period. For the years ended December 31, 2002 and 2001, the Company was not party to any derivative contract designated as a fair value hedge.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Upon adoption of this new standard as of January 1, 2001, the Company recorded a charge of $1.3 million to comprehensive loss for the cumulative effect of an accounting change to recognize at fair value all derivatives that are designated as cash flow hedging instruments. Over time, the unrealized gains/losses  and the transition adjustment held in accumulated other comprehensive income will be reclassified into earnings as the underlying hedged items affect earnings, such as when the forecasted interest payments occur. It is expected that $5.0 million of net losses will be reclassified into earnings over the next twelve months.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company formally assesses, both at inception of the hedge and on an on-going basis, whether each derivative is highly-effective in offsetting changes in fair values of cash flows of the hedged item. If it is determined that a derivative is not highly-effective as a hedge or if a derivative ceases to be a highly-  effective hedge, the Company will discontinue hedge accounting prospectively.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-10</font></p>
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<div style="page-break-before:always"></div>
<page>
<a name="pf11"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company manages its ratio of fixed-to-floating rate debt with the objective of achieving a mix that management believes is appropriate. To manage this mix in a cost-effective manner, the Company, from time-to-time, enters into interest rate swap agreements, in which it agrees to exchange various combinations of  amounts based on fixed and/or variable interest rates applied to notional amounts. As of December 31, 2002, the maximum length of time which the Company is hedging its exposure to the variability in future cash flows for forecasted transactions is through June 2004. There was no gain or loss reclassified from accumulated other  comprehensive loss into earnings during 2002 as a result of the discontinuance of a cash flow hedge due to the probability of the original forecasted transaction not occurring.</div></font></p>
<p align="left"><font face="serif" size="2">New Pronouncements</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In April 2002, the FASB issued SFAS 145, <i>Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections. </i>The most significant provisions of this statement relate to the rescission of Statement No. 4, Reporting Gains and Losses from Extinguishment of Debt. SFAS 145  also amends other existing authoritative pronouncements to make various technical corrections, clarify meanings, or describe their applicability under changed conditions. Under SFAS 145, any gain or loss on extinguishment of debt that was classified as an extraordinary item in prior periods presented that does not meet certain  defined criteria must be reclassified. The provisions of SFAS 145 are effective for fiscal years beginning after May 15, 2002. Management expects that the adoption of this statement in 2003 will not have a material effect on the Company&#146;s results of operations or financial condition.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In June 2002, FASB issued SFAS 146, Accounting for Costs Associated with Exit or Disposal Activities. SFAS 146 addresses financial accounting and reporting for costs associated with exit or disposal activities and nullifies Emerging Issues Task Force Issue No. 94-3 Liability Recognition for Certain Employee Termination  Benefits and Other Costs to Exit an Activity. SFAS 146 requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred. The provisions of SFAS 146 are effective for exit or disposal activities that are initiated after December 31, 2002. Management expects that the adoption of  this statement will not have a material effect on the Company&#146;s results of operations or financial condition.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In November 2002, the FASB issued Interpretation No. 45 (&#147;FIN 45&#148;), Guarantor&#146;s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others. FIN 45 significantly changes the current practice in the accounting for, and disclosure of, guarantees. Guarantees and  indemnification agreements meeting the characteristics described in FIN 45 are required to be initially recorded as a liability at fair value. FIN 45 also requires a guarantor to make significant new disclosures for virtually all guarantees even if the likelihood of the guarantor having to make payment under the guarantee is remote. The  disclosure requirements within FIN 45 are effective for financial statements for annual or interim periods ending after December 15, 2002. The initial recognition and initial measurement provisions are applicable on a prospective basis to guarantees issued or modified after December 31, 2002. The Company adopted the disclosure  provisions of FIN 45 as of December 31, 2002. Management does not expect the adoption of the initial recognition and measurement provisions will have a material effect on the Company&#146;s results of operations or financial condition.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In January 2003, the FASB issued Interpretation No. 46 (&#147;FIN 46&#148;), Consolidation of Variable Interest Entities. FIN 46 clarifies the application of Accounting Research Bulletin No. 51, Consolidated Financial Statements and provides guidance on the identification of entities for which control is achieved through means other  than through voting rights (&#147;variable interest entities&#148; or &#147;VIEs&#148;) and how to determine when and which business enterprise should consolidate the VIE. This new model for consolidation applies to an entity which either (1) the equity investors (if any) do not have a controlling financial interest or (2) the equity investment at risk is  insufficient to finance that entity&#146;s activities without receiving additional subordinated financial support from other parties. The provisions of this interpretation are immediately effective for VIEs formed after January 31, 2003. For VIEs formed prior to January 31, 2003, the provisions of this interpretation apply to the first fiscal year  or interim period beginning after June 15, 2003. Management does not expect that the adoption of this standard will have a material effect on the Company&#146;s results of operations or beneficiaries&#146; equity and comprehensive income.</div></font></p>
<p align="left"><font face="serif" size="2">3. MINORITY INTEREST</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Minority interest is comprised of Class A Units of limited partnership interest (&#147;Class A Units&#148;) and Series B Preferred Units of limited partnership interest (&#147;Series B Preferred Units&#148;). The Operating Partnership issued these interests to</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-11</font></p>
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<div style="page-break-before:always"></div>
<page>
<a name="pf12"></a>
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<p align="left"><font face="serif" size="2">persons that contributed assets to the Operating Partnership. The Operating Partnership is obligated to redeem, at the request of a holder, each Class A Unit for cash or one Common Share, at the option of the Company. Each Series B Preferred Unit has a stated value of $50.00 and is convertible, at the option of the holder, into Class A  Units at a conversion price of $28.00. The conversion price declines to $26.50, if the average trading price of the Common Shares during the 60-day period ending December 31, 2003 is $23.00 or less. The Series B Preferred Units bear a preferred distribution of 7.25% per annum, subject to an increase in the event quarterly  distributions paid to holders of Common Shares exceed $0.51 per share. Income allocated to minority interest includes the amount of the Series B Preferred Unit distribution and the prorata share of net income of the Operating Partnership allocated to the Class A Units. The Company declared distributions of $7.1 million in 2002,  2001 and 2000 to the holders of Series B Preferred Units and $3.3 million in 2002, $3.7 million in 2001 and $3.5 million in 2000 to holders of Class A Units. As of December 31, 2002 and 2001, respectively, there were 1,787,436 and 2,151,658 Class A Units and 1,950,000 Series B Preferred Units held by third party investors.</font></p>
<p align="left"><font face="serif" size="2">4. REAL ESTATE INVESTMENTS</font></p>
<p align="left"><font face="serif" size="2">As of December 31, 2002 and 2001, the carrying value of the Company&#146;s Operating Properties is as follows:</font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Land</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">353,111</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">353,678</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Building and improvements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,442,819</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,460,165</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Tenant improvements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">94,079</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">79,196</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,890,009</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,893,039</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">5. ACQUISITIONS AND DISPOSITIONS OF REAL ESTATE INVESTMENTS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s acquisitions were accounted for by the purchase method. The results of each acquired property are included in the Company&#146;s results of operations from their respective purchase dates.</div></font></p>
<p align="left"><font face="serif" size="2"><i>2002</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company sold 23 office properties containing an aggregate of 1.4 million net rentable square feet, 20 industrial properties containing an aggregate of .9 million net rentable square feet and two parcels of land containing an aggregate of 12.8 acres for an aggregate of $190.8 million, realizing a net gain of $8.6  million before minority interest. The Company also purchased seven office properties containing 617,000 net rentable square feet and one parcel of land containing 9.0 acres for an aggregate of $99.1 million.</div></font></p>
<p align="left"><font face="serif" size="2"><i>2001</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2001, the Company sold three office and eight industrial properties, containing 440,000 net rentable square feet, and four parcels of land, containing 15.8 acres, for $31.3 million, realizing a net gain of $4.5 million. Seven of the properties were sold for $21.6 million realizing an aggregate gain of $4.3 million, four of  the properties were sold for $7.1 million, realizing an aggregate loss of $.7 million and four land parcels were sold for $2.6 million realizing an aggregate gain of $.9 million. The Company also acquired two office properties, containing 146,000 net rentable square feet, and three parcels of land, containing 30.0 acres, for $31.5 million,  of which $4.2 million was satisfied with an exchange of property.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In addition to the sales and acquisitions above, the Company consummated an exchange of properties with Prentiss Properties Acquisition Partners, L.P. (&#147;Prentiss&#148;) during 2001. The Company acquired from Prentiss 30 properties (29 office and 1 industrial) containing 1.6 million net rentable square feet and 6.9 acres of  developable land for total consideration of $215.2 million. The Company conveyed to Prentiss four office properties located in Northern Virginia that contain an aggregate of 657,000 net rentable square feet, assumed $79.7 million of mortgage debt secured by certain of the Prentiss properties, issued a $7.8 million promissory note,  paid $15.9 million at closing and agreed to make additional payments totaling $7.0 million (including $5.4 million of payments discounted at 7.5%) over a three-year period subsequent to closing. The Company also contributed to Prentiss its interest in a real estate venture that</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-12</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf13"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2">owns two additional office properties that contain an aggregate of 452,000 net rentable square feet and received a combination of preferred and common units of limited partnership interest in Prentiss having a value of $10.7 million, as of the closing. In addition as part of the Prentiss transaction in June 2001, the Company purchased  a 103,000 square foot building then under construction for $4.2 million and six acres of related developable land for $5.7 million.</font></p>
<p align="left"><font face="serif" size="2"><i>Proforma</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following unaudited pro forma financial information for the year ended December 31, 2001 and 2000 gives effect to the exchange of properties with Prentiss as if the transaction occurred on January 1, 2000. The proforma financial information presented below is not necessarily indicative of the results which actually  would have occurred if the transaction had been consummated on January 1, 2000, nor does the pro forma information purport to represent the results of operations for future periods.</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>(unaudited and in thousands,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>except per share data)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">314,630</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">302,305</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma net income before extraordinary items allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,193</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">41,314</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma net income after extraordinary items allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22,082</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">41,314</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma net income per Common Share before extraordinary items (diluted)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.65</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.15</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Pro forma net income per Common Share after extraordinary items (diluted)</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.62</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.15</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><i>2000</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2000, the Company sold seven office properties, containing 630,000 net rentable square feet, and two parcels of land, containing 5.0 acres, for $101.1 million, realizing a net gain of $11.6 million. Four of the properties were sold for $72.1 million realizing an aggregate gain of $15.8 million, three of the properties were  sold for $27.8 million realizing an aggregate loss of $5.1 million, and two land parcels were sold for $1.2 million realizing an aggregate gain of $.9 million. In addition, the Company purchased 36.0 acres of land for $7.0 million.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The results of operations on a pro forma basis on the above acquisitions and dispositions are not material.</div></font></p>
<p align="left"><font face="serif" size="2">6. MANAGEMENT COMPANY</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Management fees paid by the Properties to the Management Company amounted to $11.9 million in 2000. The Management Company also receives reimbursement of certain costs attributable to the operations of the Properties. These costs, included in property operating expenses, amounted to $9.2 million in 2000.  Summarized unaudited financial information for the Management Company as of and for the year ended December 31, 2000 is as follows:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(unaudited and in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total assets</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">3,248</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,190</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">173</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Company&#146;s share of net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">164</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">7. INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had invested approximately $14.8 million in ten Real Estate Ventures (net of returns of investment received by the Company). The Company, through subsidiaries, formed these ventures with unaffiliated third parties to develop office properties or to acquire land in anticipation of  possible development of office properties. Eight of the Real Estate Ventures own eight office buildings that contain an aggregate of a .8 million net rentable square feet; one Real Estate Venture developed a hotel property that contains 137 rooms; and one Real Estate Venture holds 3.0 acres of land for future development.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-13</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf14"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company purchased the remaining partnership interests held by third parties in three Real Estate Ventures which owned two office properties containing 222,000 net rentable square feet and one parcel of land containing 1.0 acres for $2.3 million. The results of operations of these Real Estate Ventures are  consolidated from the date the Company acquired the remaining partnership interests.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company accounts for its non-controlling interests in Real Estate Ventures using the equity method. Non-controlling ownership interests generally range from 6% to 65%, subject to specified priority allocations in certain Real Estate Ventures. These investments, initially recorded at cost, are subsequently adjusted for the  Company&#146;s net equity in the ventures&#146; income or loss and cash contributions and distributions.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following is a summary of the financial position of the unconsolidated Real Estate Ventures in which the Company had investment interests as of December 31, 2002 and 2001 (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net property</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">193,552</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">180,497</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Other assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,163</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,038</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Liabilities </font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,186</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,593</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Third-party debt</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">149,129</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">145,463</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">61,400</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">50,479</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Company&#146;s share of equity</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19,067</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>For the year ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Revenues</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">27,219</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">24,117</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">30,538</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,406</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,237</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,826</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,531</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,211</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,250</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Interest expense, net</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,212</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,495</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,914</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,070</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,174</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,368</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Company&#146;s share of income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">987</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,797</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-14</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf15"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following is a summary of the financial position as of December 31, 2002 and the results of operations for the year ended December 31, 2002 for each of the unconsolidated Real Estate Ventures in which the Company had interests as of December 31, 2002 (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Christiana</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Christiana</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Christiana</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Chesterbrook</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Center</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Center</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Center</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Two Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Four Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Five Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Six Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Eight Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Tower</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>TBFA</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>PJP</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>PJP</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Boulevard</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Operating</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Operating</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Operating</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Bridge Inn</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Partners,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Building</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Building</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Partnership</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Company I, LLC</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Company II, LLC</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Company III, LLC</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Associates</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>LP</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Two, LC</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Five, LC</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Total</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Assets</font></div></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="1">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Net property</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">31,588</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">9,805</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">11,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">41,373</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">13,029</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">56,732</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">14,303</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,334</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,513</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">6,875</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">193,552</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Other assets</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,417</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">743</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,453</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,314</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,991</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">832</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,105</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">560</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">748</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">20,163</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Total assets</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">35,005</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">10,548</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">14,453</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">45,687</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">17,020</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">57,564</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">16,408</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,334</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">6,073</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7,623</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">213,715</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Liabilities and Equity</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Other liabilities</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">269</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">51</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">305</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">441</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">440</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,244</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">197</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">93</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">146</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,186</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Debt</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">28,178</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7,855</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">11,000</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">27,600</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">15,951</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">35,782</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">11,700</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,172</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,891</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">149,129</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Total liabilities</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">28,447</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7,906</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">11,305</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">28,041</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">16,391</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">37,026</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">11,897</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,265</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">6,037</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">152,315</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Equity</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">6,558</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,642</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,148</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">17,646</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">629</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">20,538</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,511</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,334</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">808</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,586</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">61,400</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Total liabilies and equity</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">35,005</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">10,548</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">14,453</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">45,687</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">17,020</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">57,564</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">16,408</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,334</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">6,073</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7,623</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">213,715</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Revenue</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Rents</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,086</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,089</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">511</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,857</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,372</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,238</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,027</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">277</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,876</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">-</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">414</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">750</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">24,497</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Tenant reimbursements and other</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">470</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">48</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">24</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">469</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">418</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">239</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">521</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">203</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">116</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">214</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,722</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Total revenue</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,556</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,137</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">535</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,326</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,790</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,477</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,548</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">277</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,079</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">530</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">964</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">27,219</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Operating Expenses</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Property operating expenses</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,128</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">290</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">111</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">796</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">620</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,008</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">635</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">487</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,279</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">274</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">308</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7,936</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Real estate taxes</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">383</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">27</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">31</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">160</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">144</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">349</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">313</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">182</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">193</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">41</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">50</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,873</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Interest</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,949</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">459</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">257</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">550</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">728</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,839</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,252</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">801</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">994</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">184</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">199</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">9,212</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Depreciation and amortization</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">897</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">222</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">107</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">368</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">732</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">222</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">835</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">882</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">711</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">338</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">217</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5,531</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Administrative expenses</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">7</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">163</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">174</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">239</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">14</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">597</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Total operating expenses</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,364</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">998</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">506</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,874</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,387</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,592</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">3,274</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,366</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">4,177</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">837</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">774</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">25,149</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">Net Income</font></div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,192</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">139</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">29</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">452</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">403</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,885</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">274</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(2,089)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(98)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">&#151;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">(307)</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">190</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,070</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">In July 2002, the Company purchased the remaining interests in these Real Estate Ventures for an aggregate of $2.3 million.</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the aggregate maturities of non-recourse debt payable to third-parties is as follows (in thoudands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2003</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">6,113 </font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2004</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,485 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2005</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">37,406 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2006</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,452 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2007 and thereafter</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">95,673</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">149,129 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had guaranteed repayment of approximately $2.0 million of loans on behalf of the Real Estate Ventures. See Item 2. Properties &#151; Real Estate Ventures. The Company also guaranteed a $16.2 million loan on behalf of a former Real Estate Venture. Payment under the guaranty, which  expires in January 2004, would be required only in the event of a default on the loan and if and to the extent the collateral for the loan were insufficient to provide for payment in full of the loan. The Company also provides customary environmental indemnities in connection with construction and permanent financing both for its own  account and on behalf of its Real Estate Ventures.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company has assessed the investments in Real Estate Ventures using the guidelines established in FIN 46 to determine whether using the equity method of accounting is still appropriate. These Real Estate Ventures have sufficient total investment equity at risk to permit these entities to finance their activities without  additional subordinated financial support from other parties, including the Company. Further, the equity investment at risk is not greater than the expected losses of the entity, if any, as of December 31, 2002.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-15</font></p>
<hr noshade align="center" width="100%" size="2">

<div style="page-break-before:always"></div>
<page>
<a name="pf16"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In addition, these entities are not considered variable interest entities because, in each case, the equity investors as a group, have (i) the ability to make decisions through voting rights or the terms of the partnership or operating agreements; (ii) the obligation to absorb the expected losses of the entity, if any; and  (iii) the right to receive the expected residual returns of the entity, if they occur.</div></font></p>
<p align="left"><font face="serif" size="2">8. INDEBTEDNESS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company utilizes credit facility borrowings for general business purposes, including the acquisition of properties and the repayment of debt. The Company maintains a $500 million unsecured credit facility (the &#147;Credit Facility&#148;) that matures in June 2004. Borrowings under the Credit Facility bear interest at  LIBOR (LIBOR was 1.38% at December 31, 2002) plus 1.5%, with the spread over LIBOR subject to reductions from .10% to .25% or increases of .25% based on the Company&#146;s leverage. As of December 31, 2002, the Company had $307 million of borrowings and $13.6 million of letters-of-credit outstanding under the  Credit Facility, leaving $179.4 million of unused availability. The weighted-average interest rate on the Company&#146;s unsecured credit facilities was 5.41% in 2002, 6.48% in 2001, and 7.84% in 2000.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">During 2002, the Company obtained a $100 million term loan. The Company used proceeds of the term loan to repay indebtedness, including indebtedness under its Credit Facility. The term loan is unsecured and matures on July 15, 2005, subject to two extensions of one year each upon payment by the Company  of an extension fee and the absence of any defaults at the time of each extension. There are no scheduled principal payments prior to maturity. The term loan bears interest at a spread over the one, two, three or six month LIBOR that varies between 1.05% and 1.90% (1.65% as of December 31, 2002), based on the  Company&#146;s leverage ratio.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company had $597.7 million of mortgage notes payable secured by 111 of the Properties and certain land holdings. Fixed rate mortgages, totaling $537.1 million, require payments of principal and/or interest (or imputed interest) at rates ranging from 6.80% to 9.25% and mature at  various dates from July 2003 through July 2027. Variable rate mortgages, totaling $60.6 million, require payments of principal and/or interest at rates ranging from LIBOR plus .76% to 1.75% or 75% of prime (the prime rate was 4.25% at December 31, 2002) and mature at various dates from March 2003 through July  2027. The weighted-average interest rate on the Company&#146;s mortgages was 7.27% in 2002, 7.39% in 2001, and 7.92% in 2000.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company has entered into interest rate swap and rate cap agreements designed to reduce the impact of interest rate changes on certain variable rate debt. At December 31, 2002, the Company had interest rate swap agreements for notional principal amounts aggregating $175 million. The swap agreements  effectively fix the LIBOR portion of the Company&#146;s interest rate on $100 million of Credit Facility borrowings at 4.230% and $75 million of Credit Facility borrowings at 4.215%, in each case until June 2004. The interest rate cap agreement effectively limits the interest rate on a mortgage of $28 million to 8.7% until  July 2004. As of December 31, 2002, the fair value of the interest rate swap agreements was $7.2 million, which represents the estimated amount that the Company would pay if the contracts were terminated.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Aggregate principal payments on mortgage notes payable at December 31, 2002 are due as follows (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2003</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">113,611</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2004</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">67,286</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2005</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,490</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2006</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,676</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2007</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,132</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2008 and thereafter</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">370,534</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">597,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Credit Facility and Term Loan require the maintenance of certain ratios related to minimum net worth, debt-to-total capitalization and fixed charge coverage and various non-financial covenants. As of December 31, 2002, the Company was in compliance with all debt covenants. The Company paid interest (net  of capitalized interest) totaling $61.8 million in 2002, $74.2 million in 2001 and $67.7 million in 2000. As of December 31, 2002, the carrying value of the Company&#146;s debt was below fair market value by approximately $99.9 million, as determined by using year-end interest rates and market conditions.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-16</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf17"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2">9. DISCONTINUED OPERATIONS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">For the years ended December 31, 2002, 2001 and 2000, income from discontinued operations relates to 43 properties containing 2.3 million net rentable square feet that the Company sold during the year ended December 31, 2002 and two properties containing 127,000 net rentable square feet that the Company  has designated as &#147;held-for-sale&#148; as of December 31, 2002. The following table summarizes information for the two properties designated as held-for-sale as of December 31, 2002 (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Real Estate Investments:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Operating Properties</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,729</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Accumulated depreciation</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,235</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,494</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Construction-in-progress</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">55</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,549</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Accrued rent receivable</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">87</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Deferred costs, net</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Other assets</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">28</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,666</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Tennant security deposits and deferred rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table summarizes revenue and expense information for the above properties sold or held-for-sale in 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Revenue:</b></font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Rents</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,303</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29,168</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,940</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Tenant reimbursements</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,783</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,781</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,608</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Other</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">597</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">330</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">156</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,683</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">34,279</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">31,704</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2"><b>Expenses:</b></font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Property operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,886</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,051</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,370</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,585</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,691</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,469</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,165</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,142</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,696</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Impairment loss on assets held-for-sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">665</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,301</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,884</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19,535</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations before net gain on sale of interests in real estate and minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,382 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,395 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,169 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net gain on sales of inteest in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,562 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Minority interest</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(777</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(707</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(694</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,167</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,475</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">As of December 31, 2002, the Company recorded an impairment charge of $665,000 in its consolidated statements of operations related to one of the assets held-for-sale.</font></p>
<p align="left"><font face="serif" size="2">Discontinued operations have not been segregated in the consolidated statements of cash flows. Therefore, amounts for certain captions will not agree with respective data in the Consolidated Statements of Operations.</font></p>
<p align="left"><font face="serif" size="2">10. PREFERRED SHARES AND BENEFICIARIES&#146; EQUITY</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In 1998, the Company issued $37.5 million of convertible preferred securities with a 7.25% coupon rate (the Series A Preferred Shares). The Series A Preferred Shares, with a stated value of $50.00, are convertible into Common Shares, at the option of the holder, at a conversion price of $28.00. The conversion  price declines to $26.50, if the trading price of the Common Shares during the 60-day period ending December 31, 2003 is $23.00 or less. The Series A Preferred</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-17</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf18"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2">Shares distribution is subject to an increase, if quarterly distributions paid to Common Share
holders exceeds $0.51 per share. The Series A Preferred Shares are perpetual and may be redeemed, at the Company&#146;s option, at par
beginning in January 2004 or earlier, if the market price of the Common Shares exceeds  specified levels.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In 1999, the Company issued $105.0 million of convertible preferred
securities (the Series B Preferred Shares) with an 8.75% coupon rate for net proceeds of $94.8 million. The Company is accreting the discount
as a charge to cumulative earnings through the redemption date in 2007. The unamortized discount  was $6.4 million as of December 31, 2002
and $7.9 million as of December 31, 2001. The Series B Preferred Shares, convertible into Common Shares at a conversion price of $24.00 per
share, are entitled to quarterly dividends equal to the greater of $0.525 per share or the quarterly dividend on the number of Common Shares
into which a Series B Preferred Share is convertible. The Series B Preferred Shares are perpetual and may be redeemed, at the Company&#146;s
option, at par, beginning in April 2007. In addition, the Company may require the conversion of the Series B Preferred Shares into Common
Shares starting in April 2004, if  certain conditions are met, including that the Common Shares are then trading in excess of 130% of the
conversion price. Upon certain changes in control of the Company, the holder may require the Company to redeem its Series B Preferred Shares.
However, the Company has the ability and intent to cause the Series B  Preferred Shares to be converted into Common Shares rather than
redeemed in such circumstances. In addition, as part of the transaction, the Company issued the holder seven-year warrants exercisable
for 500,000 Common Shares at an exercise price of $24.00 per share.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company&#146;s Board of Trustees approved a share repurchase
program authorizing the Company to repurchase its outstanding Common Shares. During 2001, the Board of Trustees increased the number of
shares authorized to be repurchased from three million shares to four million shares. Through December 31,  2002, the Company has
repurchased 3.2 million of its Common Shares at an average price of $17.71 per share. The Company repurchased 491,074 Common Shares
for $11.1 million (average price of $22.51 per share) in 2002; 302,437 Common Shares for $5.9 million (average price of $19.54 per share)
in 2001 and  957,729 Common Shares for $15.3 million (average price of $15.95 per share) in 2000. Under the share repurchase program, the
Company has authority to repurchase an additional 834,000 shares. No time limit has been placed on the duration of the share repurchase
program.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">At December 31, 2002, 355,813 unvested restricted Common Shares
were held by employees of the Company. The restricted shares, valued at $18.4 million at issuance, are amortized over their respective
vesting periods of three to eight years. The Company recorded compensation expense of $2.5 million in 2002,  $2.8 million in 2001 and
$2.0 million in 2000 related to these shares.</div></font></p>
<p align="left"><font face="serif" size="2">11. SHARE PURCHASE OPTIONS AND WARRANTS</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company maintains a plan that authorizes the issuance of
various equity-based awards including incentive stock options. The terms and conditions of option awards are determined by the Board of
Trustees. Incentive stock options may not be granted at exercise prices less than fair value of the stock at the  time of grant. Options
granted by the Company generally vest over two to five years. All options awarded by the Company to date are non-qualified stock options.
As of December 31, 2002, the Company is authorized to issue five million equity-based awards of which 1.4 million shares remain available
for future  issuance under the plan.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table summarizes option activity for the three years
ended December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Number</b></font><font face="serif" size="1"><b><br>
    of Share<br>
    </b></font><font face="serif" size="1"><b>Under</b></font><br>
    <font face="serif" size="1"><b>Option</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" rowspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted&#151;</b></font><font face="serif" size="1"><b><br>
    Average<br>
    </b></font><font face="serif" size="1"><b>Exercise</b></font><br>
    <font face="serif" size="1"><b>Price</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>Grant Price Range</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>From</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>To</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at January 1, 2000</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">2,721,858</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">26.38</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">6.21</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">29.04</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Exercised</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(5,000</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Canceled</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(93,144</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27.51</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25.25</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2000</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,623,714</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.36</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.21</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Exercised</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(83,333</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50 </font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Canceled</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(61,582</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27.53</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">25.25</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,478,799</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.56</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.21</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Granted</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">100,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Exercised</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(55,000</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Canceled</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(151,172</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">22.22</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">19.50</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,372,627</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.70</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.21</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">29.04</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-18</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf19"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table summarizes stock options outstanding as of December 31, 2002:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted-</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Average</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted-</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Weighted-</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Range of</b></font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Number of</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Remaining</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Average</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Number of</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Average</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Exercise</b></font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Options</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Contractual</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Exercise</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Options</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Exercise</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Prices</b></font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Outstanding</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Life</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Price</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Exercisable</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Price</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">$6.21 to $14.31</font></div></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">46,667</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">1.6 years</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">12.00</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" width="1%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">46,667</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">12.00</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">$19.50 </font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">100,000</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2.6</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">19.50</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">0</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">0.00</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">$24.00 to $29.04</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">2,225,960</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">5.1</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">27.33</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">1,589,418</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">27.26</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">$6.21 to $29.04</font></div></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,372,627</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4.9</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.70</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,636,085</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26.83</font></td>
    <td align="left"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Using the Black-Scholes option pricing model, the estimated weighted-average fair value of stock options granted was $2.51 in 2002. Assumptions made in determining estimates of fair value include: risk-free interest rate of 2.7% in 2002, a volatility factor of .280 in 2002, a dividend yield of 8.4% in 2002, and a  weighted-average life expectancy of 3 years in 2002.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, there are 500,000 warrants outstanding to purchase Common Shares of the Company at an exercise price of $24.00.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Effective January 1, 2002, the Company voluntarily adopted the fair value recognition provisions of SFAS 123, prospectively for all employee awards granted, modified, or settled after January 1, 2002 (see Note 2). Accordingly, the Company recorded approximately $43,000 of compensation expense for the year  ended December 31, 2002. This compensation expense relates to the Company&#146;s grant of 100,000 stock options during 2002.</div></font></p>
<p align="left"><font face="serif" size="2">12. SEGMENT INFORMATION</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company currently manages its portfolio within three segments: (1) Pennsylvania, (2) New Jersey and (3) Virginia. Corporate is responsible for cash and investment management and certain other general support functions.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-19</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf20"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Segment information for the three years ended December 31, 2002, 2001 and 2000 is as follows (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Pennsylvania</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>New Jersey</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Virginia</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Corporate</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Total</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2002:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Real estate investments, at cost</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,246,439</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">520,460</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">224,312</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,991,211</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Assets held for sale</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,666</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td align="right" valign="bottom">&nbsp;</td>
    <td align="right" valign="bottom"><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,666</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">179,646</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">88,298</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">26,834</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,952</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">296,730</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Property operating expenses and real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">60,689</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">32,344</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,567</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">102,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net operating income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">118,957</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">55,954</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,267</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,952</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">194,130</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2001:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Real estate investments, at cost</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,194,076</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">642,646</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">206,980</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,043,702</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">161,278</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">85,235</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27,503</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,530</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">276,546</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Property operating expenses and real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">53,669</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">31,928</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,972</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">95,569</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net operating income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">107,609</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">53,307</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">17,531</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,530</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">180,977</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2000:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Real estate investments, at cost</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">938,602</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">605,521</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">309,776</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,853,899</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total revenue</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">135,986</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">76,893</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,151</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,350</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">255,380</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Property operating expenses and real estate taxes</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">44,251</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">24,208</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,755</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">81,214</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net operating income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">91,735</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">52,685</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27,396</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,350</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">174,166</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Net operating income is defined as total revenue less property operating expenses and real estate taxes. Below is a reconciliation of consolidated net operating income to consolidated income from continuing operations:</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Year Ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>(amounts in thousands)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Consolidated net operating income</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">194,130</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">180,977</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">174,166</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Less:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Interest expense</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">63,522</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,385</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">64,746</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Depreciation and amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">57,599</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">69,047</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">59,316</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Management fees</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,867</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Administrative expenses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14,804</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">15,177</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,249</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Non-recurring charges</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,600</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Minority interest attributable to continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,375</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,915</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,904</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Plus:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Equity in income of management company</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">164</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Equity in income of real estate ventures</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">987</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,768</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">2,797</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Net gains on sales of interests in real estate</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,524</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,638</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
   <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
 <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Consolidated income from continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,817</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,145</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,683</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b>13. NET INCOME PER COMMON SHARE</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table details the number of shares and net income used to calculate basic and diluted earnings per share for the three years ended December 31, 2002 (in thousands, except per share amounts):</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-20</font></p>
<hr noshade align="center" width="100%" size="2">

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<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="17" align="center" valign="bottom"><font face="serif" size="1"><b>For the year ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="17" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="5" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Basic</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Diluted</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Basic</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Diluted</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Basic</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Diluted</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from continuing operations</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">49,817</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">49,817</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">23,145</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">23,145</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">40,683</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">40,683</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income from discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,167</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,167</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,688</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,475</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,475</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,111</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Preferred Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(11,906</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">51,078</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">51,078</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">21,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,252</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">40,252</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Preferred Share discount amortization</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,476</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,476</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,476</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,476</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(286</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(286</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income available to common shareholders</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,602</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">49,602</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,340</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,340</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">39,966</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">39,966</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Weighted-average shares outstanding</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,513,813</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,513,813</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,646,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,646,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,807,598</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,807,598</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Options, warrants and unvested restricted stock</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">131,997</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">27,809</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">16,576</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Total weighted-average shares outstanding</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,513,813</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,645,810</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,646,842</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,674,651</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,807,598</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">35,824,174</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Earnings per Common Share:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Continuing operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.03</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.02</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.80</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Discontinued operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.37</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.37</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.33</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.33</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.32</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.32</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(0.03</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(0.03</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.40</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.39</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.57</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.12</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2">Securities totaling 11,256,776 in 2002, 11,622,922 in 2001 and 11,625,490 in 2000 were excluded from the earnings per share computations above as their effect would have been antidilutive.</font></p>
<p align="left"><font face="serif" size="2"><b>14. DISTRIBUTIONS (UNAUDITED):</b></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" align="center" valign="bottom"><font face="serif" size="1"><b>Year ended December 31,</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="8" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2002</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2001</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2000</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Common Share Distributions:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Ordinary income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.65</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.60</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.38</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Capital gain</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.11</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.24</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Return of capital</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total distributions per share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.76</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.70</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1.62</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Percentage classified as ordinary income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">93.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">94.1</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">85.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Percentage classified as capital gain</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6.2</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5.9</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">14.8</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Percentage classified as return of capital</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.0</font></td>
    <td valign="bottom"><font face="serif" size="2">%</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Preferred Share Distributions:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Total distributions declared</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,906,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,906,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">11,906,000</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><b>15. RELATED-PARTY TRANSACTIONS</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In 1998, the Board authorized the Company to make loans totaling up to $5.0 million to enable employees of the Company to purchase Common Shares at fair market value. The loans have five-year terms, are full recourse, and are secured by the Common Shares purchased. Interest, payable quarterly, accrues on  the loans at the lower of the interest rate borne on borrowings under the Company&#146;s Credit Facility or a rate based on the dividend payments on the Common Shares. As of December 31, 2002, the interest rate was 2.92% per annum. The loans are payable at the earlier of the stated maturity date or 90 days following the  employee&#146;s termination. As of December 31, 2002, the Company had funded loans of $4.0 million to employees secured by an aggregate of 194,748 Common Shares.</div></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company owns 384,615 shares of US Realtel, Inc. (&#147;USR&#148;) Common Stock and holds warrants exercisable for 600,000 additional shares. The warrants have an exercise price of $8.00 per share and expire on December 31, 2004. As of December 31, 2002, the Company&#146;s investment in USR was $.4 million.  An officer of the Company holds a position on USR&#146;s Board of Directors.</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-21</font></p>
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<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In February 2000, the Company loaned an aggregate of $2.5 million to two executive officers to enable them to purchase Common Shares of the Company. One loan has a four-year term and bears interest at the lower of the Company&#146;s cost of funds or a rate based on the dividend payable on the Common Shares,  but not to exceed 10% annum. This loan is subject to forgiveness over a three-year period, with the amount of forgiveness tied to the Company&#146;s total shareholder return compared to the total shareholder return of peer group companies. This loan is also subject to forgiveness in the event of a change of control of the  Company. The executive may repay the loan at maturity by surrendering Common Shares valued at the executive&#146;s initial per share purchase price of $15.625. The Company recorded compensation expense of $877,000 in 2002, $881,000 in 2001 and $683,000 in 2000 relating to these executive stock loans. This loan is  reflected as a reduction in beneficiaries equity. Effective December 31, 2001, the Company recorded a $4.1 million charge to restructure the other loan in connection with the executive&#146;s transition to a non-executive, non-managerial status, which will be forgiven in equal installments in April 2002 and April 2003.  Principal and interest totaling $.9 million was forgiven related to these loans in 2002 and 2001.</div></font></p>
<p align="left"><font face="serif" size="2"><b>16. OPERATING LEASES</b></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company leases properties to tenants under operating leases with various expiration dates extending to 2020. As of December 31, 2002, leases covering approximately 1.8 million square feet or 11.4% of the net rentable square footage are scheduled to expire during 2003. Minimum future rentals on  noncancelable leases at December 31, 2002 are as follows (in thousands):</div></font></p>
<table width="60%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr align="center" valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1"><b>Year</b></font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><font face="serif" size="1"><b>Minimum Rent</b></font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><div style="margin-left:3%; text-indent:-3%"><hr width="100" size="1" noshade>
    </div></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" valign="bottom"><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2003</font></div></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left" valign="bottom" width="1%"><font face="serif" size="1">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="1">254,631</font></td>
    <td align="left" width="2%"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2004</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">220,625</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2005</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">180,190</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2006</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">142,930</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2007</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">114,628</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr align="center" valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="1">2008 and thereafter</font></div></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="1">417,997</font></td>
    <td align="left"><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,331,001</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2"><hr noshade size="2"></font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">Total minimum future rentals presented above do not include amounts to be received as tenant reimbursements for increases in certain operating costs.</div></font></p>
<p align="left"><font face="serif" size="2"><strong>17. EMPLOYEE BENEFIT PLAN</strong></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company sponsors a 401(k) defined contribution plan for its employees. Each employee may contribute up to 18% of annual compensation. At its discretion, the Company can make matching contributions equal to a percentage of the employee&#146;s elective contribution and profit sharing contributions. Employees  vest in employer contributions over a five year service period. The Company contributions were $816,000 in 2002, $669,000 in 2001 and $690,000 in 2000.</div></font></p>
<p align="left"><font face="serif" size="2"><strong>18. SUMMARY OF INTERIM RESULTS (UNAUDITED)</strong></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following is a summary of interim financial information as of and for the years ended December 31, 2002 and 2001 (in thousands, except per share data):</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-22</font></p>
<hr noshade align="center" width="100%" size="2">
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<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>1st</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>2nd</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>3rd</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>4th</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Quarter (a)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Quarter</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Quarter</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Quarter (b)</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2002:</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="1%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="8%"><font face="serif" size="2">&nbsp;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">Total revenue</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">70,431</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">73,927</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">75,788</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">76,584</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,469</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,800</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,968</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,747</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">23,469</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,800</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">13,968</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">12,747</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">20,492</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,823</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,992</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,771</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Basic earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.56</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;After extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.56</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Diluted earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.55</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;After extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.55</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.26</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.30</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.27</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">2001:</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">Total revenue</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">66,613</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">70,624</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">70,765</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">68,544</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,140</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">8,534</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,271</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,888</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Net income</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">9,140</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,423</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">10,271</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,888</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Income allocated to Common Shares</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">6,163</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">4,446</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">7,294</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,913</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Basic earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.16</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.14</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.19</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;After extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.16</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.11</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.19</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
    <td><font size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Diluted earnings per Common Share</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Before extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.16</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.14</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.19</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;After extraordinary item</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.16</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.11</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.19</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">0.10</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
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  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(a)</font></td>
    <td><div align="left"><font face="serif" size="2">The Company recorded gains on sales of properties of $8.4 million during the 1st quarter of 2002.</font></div></td>
  </tr>
</table>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td width="3%"><font face="serif" size="2">(b)</font></td>
    <td><div align="left"><font face="serif" size="2">During the fourth quarter of 2001, the Company recorded a $6.6 million non-recurring charge related to the conversion of the Company&#146;s Chairman to a non-executive, non-managerial status and the write-down due to the impairment of the Company&#146;s $2.5 million investment in a telecommunications company that was deemed to be other than temporary. The $4.1 million charge related to the Company&#146;s Chairman reflects an accrual on account of payment obligations of the Company under its employment agreement with the Chairman, accelerated vesting of his restricted shares and restructuring of his executive stock loan.(c) (d)</font></div></td>
  </tr>
</table>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The summation of quarterly earnings per share amounts do not necessarily equal year to date amounts.</div></font></p>
<p align="left"><font face="serif" size="2"><strong>19. COMMITMENTS AND CONTINGENCIES</strong></font></p>
<p align="left"><font face="serif" size="2"><i>Legal Proceedings</i></font></p>
<p align="left"><font face="serif" size="2">The Company is involved from time to time in litigation on various matters, including disputes with tenants and disputes arising out of agreements to purchase or sell properties. Given the nature of the Company&#146;s business activities, these lawsuits are considered routine to the conduct of its business. The result of any  particular lawsuit cannot be predicted, because of the very nature of litigation, the litigation process and its adversarial nature, and the jury system.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The Company is a defendant in a case in which the plaintiffs allege that the Company breached its obligation to purchase a portfolio of properties for approximately $83.0 million. On July 9, 1999, the Superior Court of New Jersey, Camden County, dismissed the complaint against the Company with prejudice.  The plaintiffs subsequently filed a motion for reconsideration, which motion the Superior Court denied. Plaintiffs then appealed to the Appellate Division, which is the intermediate appellate level court in New Jersey. In December 2000, the Appellate Division affirmed in part and reversed in part the Chancery Division&#146;s  earlier dismissal of the entire action. The Appellate Division affirmed the dismissal of the fraud and other non-contractual counts in the Complaint, but reversed the contract and reformation counts and remanded these to the lower court for further proceedings. The Company sought review of this decision by the Supreme  Court of New Jersey, but in March 2001 that Court declined to consider the appeal. The case thereafter returned to the Chancery Division, where written and oral discovery was</div></font></p>
<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-23</font></p>
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<p align="left"><font face="serif" size="2">conducted in 2002 and in the first quarter of 2003. Discovery terminated on February 14, 2003. The Company filed a motion for summary judgment on all counts, seeking dismissal of all counts against it, and judgment for the Company on its counterclaim. The Chancery Division granted the Company&#146;s summary  judgment motion on March 25, 2003. At this time, the Company does not know whether plaintiffs will appeal, or if they appeal, whether plaintiffs will be successful in the appeal.</font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">There have been recent reports of lawsuits against owners and managers of multifamily and office properties asserting claims of personal injury and property damage caused by the presence of mold in residential units or office space. The Company has been named as a defendant in two lawsuits that allege personal  injury as a result of the presence of mold. Unspecified damages are sought. The Company has referred these lawsuits to its insurance carrier and, as of the date of this Form 10-K, the insurance carrier is evaluating coverage.</div></font></p>
<p align="left"><font face="serif" size="2"><i>Letters-of-Credit</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">In connection with certain mortgages, the Company is required to maintain leasing and capital reserve accounts with the mortgage lenders through letters-of-credit which totaled $13.6 million at December 31, 2002. The Company is also required to maintain escrow accounts for taxes, insurance and tenant security  deposits that amounted to $16.3 million at December 31, 2002. The related tenant rents are deposited into the loan servicer&#146;s depository accounts, which are used to fund debt service, operating expenses, capital expenditures and the escrow and reserve accounts, as necessary. Any excess cash is included in cash and cash  equivalents.</div></font></p>
<p align="left"><font face="serif" size="2"><i>Other Commitments</i></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">As of December 31, 2002, the Company owned 444 acres of land for future development and held options to purchase 63 additional acres. The Company also holds an option to enter into a long-term ground lease of property adjacent to Amtrak&#146;s 30th Street Station in Philadelphia and develop a high-rise office  property on the leasehold interest.</div></font></p>
<p align="left"><font face="serif" size="2"><strong>20. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)</strong></font></p>
<p align="left"><font face="serif" size="2"><div style="text-indent:3%">The following table details the components of accumulated other comprehensive income (loss) as of and for the three years ended December 31, 2002 (in thousands):</div></font></p>
<table width="100%" align="center" border="0" cellpadding="0" cellspacing="0">
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Unrealized Gains</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Cash Flow</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Accumulated Other</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font size="2">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>(Losses) on Securities</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Hedges</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td colspan="2" align="center" valign="bottom"><font face="serif" size="1"><b>Comprehensive Loss</b></font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top">
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
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    <td><font face="serif" size="1">&nbsp;</font></td>
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    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="1">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Beginning balance at January 1, 2000</font></div></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">&#151;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">&#151;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom" width="1%"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom" width="8%"><font face="serif" size="2">&#151;</font></td>
    <td width="2%"><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Change during year</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2000</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(1,731</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Change during year</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">1,816</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,921</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,105</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Reclassification adjustments for losses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reclassified into operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,249</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">3,249</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2001</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">85</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(4,672</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(4,587</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Change during year</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">733</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,954</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,221</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;Reclassification adjustments for losses</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reclassified into operations</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">&#151;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,406</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">5,406</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="1"></td>
    <td><hr noshade size="1"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><div style="margin-left:3%; text-indent:-3%"><font face="serif" size="2">Balance at December 31, 2002</font></div></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">818</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(7,220</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
    <td valign="bottom"><font face="serif" size="2">$</font></td>
    <td align="right" valign="bottom"><font face="serif" size="2">(6,402</font></td>
    <td valign="bottom"><font face="serif" size="2">)</font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
    <td><hr noshade size="2"></td>
    <td><font face="serif" size="2">&nbsp;</font></td>
    <td><hr noshade size="2"></td>
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    <td><font face="serif" size="2">&nbsp;</font></td>
  </tr>
</table>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-24</font></p>
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<p align="center"><font face="serif" size="2">Brandywine Realty Trust<br>
  Schedule II<br>
  Valuation and Qualifying Accounts<br>
(in thousands)<br>
</font></p><table width="80%" border="0" align="center" cellpadding="0" cellspacing="0">
  <tr align="center" valign="bottom">
<td>&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2" rowspan="3"><strong><font size="1" face="serif">Balance at</font></strong><strong><font size="1" face="serif"><br>
  Beginning<br>
</font></strong><strong><font size="1" face="serif">of Period</font></strong></td>
<td>&nbsp;</td>
<td colspan="2"><strong><font size="1" face="serif">Additions</font></strong></td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2" rowspan="3"><strong><font size="1" face="serif">Balance</font></strong><strong><font size="1" face="serif"><br>
  at End<br>
  </font></strong><strong><font size="1" face="serif">of Period</font></strong></td>
</tr>
<tr align="center" valign="bottom">
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="1" noshade>
</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr align="center" valign="bottom">
<td><strong><font size="1" face="serif">Description</font></strong></td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2"><strong><font size="1" face="serif">Charged to <br>
  expense</font></strong></td>
<td>&nbsp;</td>
<td colspan="2"><strong><font size="1" face="serif">Deductions</font></strong></td>
<td>&nbsp;</td>
</tr>
<tr valign="top">
  <td align="left"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="1" noshade>
  </td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="1" noshade>
  </td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="1" noshade>
  </td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="1" noshade>
  </td>
  </tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">Allowance for doubtful accounts:</font></td>
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="3%" align="left">&nbsp;</td>
<td width="10%" align="left"><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr valign="bottom">
<td align="center"><font size="2" face="serif">     Year ended December 31, 2002</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif">              4,532 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif"> 894 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif"> 850 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif"> 4,576 </font></td>
</tr>
<tr valign="bottom">
<td align="center">&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
</tr>
<tr valign="bottom">
<td align="center"><font size="2" face="serif">     Year ended December 31, 2001</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif"> 2,427 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif"> 2,867 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif"> 762 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif">               4,532 </font></td>
</tr>
<tr valign="bottom">
<td align="center">&nbsp;</td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
<td>&nbsp;</td>
<td colspan="2"><hr align="center" size="2" noshade></td>
</tr>
<tr valign="bottom">
<td align="center"><font size="2" face="serif">     Year ended December 31, 2000</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif">              3,358 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$</font></td>
<td align="right"><font size="2" face="serif"> 332 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif"> 1,263 </font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif">               2,427 </font></td>
</tr>
<tr valign="bottom">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="left"><hr align="center" size="2" noshade></td>
  </tr>
</table>


<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-25</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf26"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>


<br><table border="0" width="80%" cellspacing="0" cellpadding="0" align="center">
  <tr valign="bottom">
<td width="3%" align="left"><font size="2" face="serif">(a)</font></td>
<td colspan="4" align="left"><font size="2" face="serif">Reconciliation of Real Estate:</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td colspan="8" align="left"><font size="2" face="serif">The following table reconciles the real estate investments from January 1, 2002 to</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td colspan="4" align="left"><font size="2" face="serif">December 31, 2002 (in thousands):</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font><strong><font size="1" face="serif">2002</font></strong></td>
<td align="center">&nbsp;</td>
<td align="center">&nbsp;</td>
<td colspan="2" align="center"><strong><font size="1" face="serif">2001</font></strong></td>
<td align="center">&nbsp;</td>
<td align="center">&nbsp;</td>
<td colspan="2" align="center"><strong><font size="1" face="serif">2000</font></strong></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="right"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Balance at beginning of year</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$</font><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">           1,893,039 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$</font><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">           1,754,895 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$</font><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">         1,771,475 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Additions: </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">
  <div style="margin-left: 3%"><font size="2">Acquisitions</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                120,627 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                217,212 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                13,056 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Capital
    expenditures</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  94,086 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  65,210 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                34,905 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Less: </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left">
  <div style="margin-left: 3%"><font size="2">Dispositions</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">              (209,014</font></td>
<td align="left"><font size="2" face="serif">)</font><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">              (144,278</font></td>
<td align="left"><font size="2" face="serif">)</font><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">               (64,541</font></td>
<td align="left"><font size="2" face="serif">)</font><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Assets
    transferred to held-for-sale</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  (8,729</font></td>
<td align="left"><font size="2" face="serif">)</font><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                          -   </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                        -   </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade>
</td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade>
</td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Balance at end of year</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$ </font></td>
<td align="right"><font size="2" face="serif"> 1,890,009 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$</font><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">1,893,039 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif">$</font><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">1,754,895 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="right"><font size="2">&nbsp;</font>
  <hr align="center" size="2" noshade>
</td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="right"><font size="2">&nbsp;</font>
  <hr align="center" size="2" noshade>
</td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="right"><font size="2">&nbsp;</font>
  <hr align="center" size="2" noshade>
</td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">(b)</font></td>
<td colspan="4" align="left"><font size="2" face="serif">Reconciliation of Accumulated Depreciation:</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td colspan="8" align="left"><font size="2" face="serif">The following table reconciles the accumulated depreciation on real estate investments from</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td colspan="8" align="left"><font size="2" face="serif">January 1, 2002 to December 31, 2002 (in thousands):</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2" face="serif">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2">&nbsp;</font><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font><strong><font size="1" face="serif">2002</font></strong></td>
<td align="center">&nbsp;</td>
<td align="center">&nbsp;</td>
<td colspan="2" align="center"><strong><font size="1" face="serif">2001</font></strong></td>
<td align="center">&nbsp;</td>
<td align="center">&nbsp;</td>
<td colspan="2" align="center"><strong><font size="1" face="serif">2000</font></strong></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="1" noshade></td>
  <td align="left">&nbsp;</td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Balance at beginning of year</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">230,793 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">179,558 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">125,744 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td width="22%" align="left"><font size="2" face="serif">Additions: </font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
<td width="1%" align="center"><font size="2">&nbsp;</font></td>
<td width="12%" align="right"><font size="2" face="serif">&nbsp;</font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
<td width="1%" align="center"><font size="2">&nbsp;</font></td>
<td width="12%" align="right"><font size="2" face="serif">&nbsp;</font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
<td width="1%" align="center"><font size="2">&nbsp;</font></td>
<td width="12%" align="right"><font size="2" face="serif">&nbsp;</font></td>
<td width="2%" align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Depreciation
    expense - continued operations</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  47,668 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  60,963 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                56,402 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Depreciation
    expense - discontinued operations</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                    1,033 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                    8,532 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  7,538 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Less: </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Dispositions</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                (33,029</font></td>
<td align="left"><font size="2" face="serif">)</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                (18,260</font></td>
<td align="left"><font size="2" face="serif">)</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">               (10,126</font></td>
<td align="left"><font size="2" face="serif">)</font></td>
</tr>
<tr valign="bottom" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><div style="margin-left: 3%"><font size="2" face="serif"> Assets
    transferred to held-for-sale</font></div></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                  (1,235</font></td>
<td align="left"><font size="2" face="serif">)</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                          -   </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2">&nbsp;</font></td>
<td align="right"><font size="2" face="serif">                        -   </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td colspan="2" align="center"><font size="2">&nbsp;</font>
  <hr align="center" size="1" noshade></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">Balance at end of year</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">245,230 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">230,793 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="left"><font size="2">&nbsp;</font></td>
<td align="center"><font size="2" face="serif"> $</font></td>
<td align="right"><font size="2" face="serif">179,558 </font></td>
<td align="left"><font size="2">&nbsp;</font></td>
</tr>
<tr valign="bottom" bgcolor="#ffffff">
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
  <td align="left">&nbsp;</td>
  <td colspan="2" align="center"><hr align="center" size="2" noshade></td>
  <td align="left">&nbsp;</td>
</tr>
</table>


<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-26</font></p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"></div>
<page>
<a name="pf27"></a>
<p><a href="#index"><font size="2">Back to Index</font></a></p>


<p>
</p>
<table border="0" width="100%" cellspacing="0" cellpadding="0" align="center">
  <tr align="center" valign="bottom">
    <td width="10%"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="5"><strong><font size="1" face="serif">Initial Cost</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="7"><strong><font size="1" face="serif">Gross Amount at Which
          Carried<br>
      December 31, 2002</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="5"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="7"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Net<br>
      Improvements<br>
      (Retirements)<br>
      Since<br>
      Acquisition</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Accumulated<br>
      Depreciation at<br>
      December 31,<br>
      2002 (b)</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif"> Encumberances at <br>
      December 31, 2002 </font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date of<br>Construction</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date<br>
      Acquired</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Depreciable<br>
      Life</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">City</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">State</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Total (a)</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="6%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="5%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left">
      <hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">One
          Greentree Centre</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 345 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,440 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 269 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 345 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,709 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,054 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,519 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Three
          Greentree Centre</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 323 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,024 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 24 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 323 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,048 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,371 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,707 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Two
          Greentree Centre</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,693 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (23</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,670 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,934 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,830 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">110
          Summit Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 403 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,647 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 157 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 403 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,804 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,207 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 403 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1155
          Business Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,541 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,029 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,124 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (191</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,029 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,933 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,962 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,141 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">120
          West Germantown Pike</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 685 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,773 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 263 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 685 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,036 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,721 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 690 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1336
          Enterprise Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">West
          Goshen</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 731 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,946 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 39 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 731 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,985 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,716 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 642 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">140
          West Germantown Pike</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 481 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,976 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 235 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 481 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,211 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,692 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 614 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">18
          Campus Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown
          Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,429 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 786 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,312 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 38 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 786 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,350 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,136 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 941 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2240/50
          Butler Pike</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,104 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,627 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 586 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,104 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,213 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,317 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,580 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2260
          Butler Pike</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 661 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,727 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 149 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 661 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,876 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,537 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 717 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">33
          Street Road - Greenwood Square I</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Bensalem</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 851 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,407 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 300 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 851 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,707 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,558 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 862 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">33
          Street Road - Greenwood Square II</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Bensalem</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,126 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,511 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 995 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,126 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,506 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,632 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,532 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">33
          Street Road - Greenwood Square III</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Bensalem</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 350 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,401 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 37 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 350 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,438 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,788 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 332 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">456
          Creamery Way</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 635 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,548 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 635 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,550 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,185 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 694 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">457
          Haddonfield Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,135 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,142 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,120 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,169 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,142 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,289 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,431 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,455 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">468
          Creamery Way</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 527 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,112 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (37</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 527 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,075 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,602 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 501 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">486
          Thomas Jones Way</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 806 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,256 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 243 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 806 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,499 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,305 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,122 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">500
          Enterprise Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,303 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,188 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (790</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,303 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,398 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,701 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,092 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">500
          North Gulph Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,303 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,201 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 591 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,303 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,792 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,095 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,395 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1979</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">650
          Dresher Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,767 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 636 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,501 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 314 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 636 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,815 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,451 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 611 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">6575
          Snowdrift Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 601 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,411 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 473 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 601 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,884 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,485 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 870 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">700
          Business Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,509 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 550 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,201 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 195 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 550 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,396 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,946 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 534 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7248
          Tilghman Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 731 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,969 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 210 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 731 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,179 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,910 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 839 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7310
          Tilghman Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 553 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,246 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 787 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 553 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,033 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,586 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 920 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">800
          Business Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,304 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 896 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,585 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 896 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,604 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,500 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 815 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">8000
          Lincoln Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 606 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,887 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 260 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 606 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,147 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,753 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 883 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">One
          Progress Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,399 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,629 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 144 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,399 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,773 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,172 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,368 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">One
          Righter Parkway</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Talleyville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,925 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,545 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,195 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 282 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,545 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,477 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,022 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,375 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 93 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 364 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 35 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 93 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 399 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 492 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 72 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1972</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">10
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 244 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 971 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 69 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 244 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,040 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,284 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 202 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Berwyn Park</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,161 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,180 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,290 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 168 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,180 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,458 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,638 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,560 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Commerce Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newark</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,160 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,633 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 354 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,160 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,987 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,147 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 955 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Katchel Blvd</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Reading</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,881 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,423 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 242 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,881 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,665 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,546 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,650 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1970</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000
          Atrium Way</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,061 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,180 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 384 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,061 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,564 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,625 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,714 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000
          East Lincoln Drive </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,059 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 108 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,167 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,431 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 245 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1981</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000
          Howard Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,090 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,298 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,288 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 395 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,298 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,683 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,981 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,219 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000/2000
          West Lincoln Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 575 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,568 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (965</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 575 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,603 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,178 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 671 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">10000
          Midlantic Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,415 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,206 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,857 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 408 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,206 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,265 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,471 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,890 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100-300
          Gundy Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Reading</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,495 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 25,180 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,633 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,495 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 30,813 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 37,308 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,957 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1970</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1007
          Laurel Oak Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Voorhees</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,563 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,241 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,563 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,258 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,821 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,166 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">105/140
          Terry Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,299 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,238 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,089 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,299 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,327 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,626 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,249 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1974</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">111
          Presidential Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Bala
          Cynwyd</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,419 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21,612 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 625 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,419 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 22,237 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 27,656 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,161 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1974</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1120
          Executive Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,074 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,415 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 517 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,074 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,932 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,006 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,883 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">15000
          Midlantic Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,898 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,061 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,254 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,061 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,262 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,323 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,527 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 185 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 730 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 23 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 185 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 753 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 938 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 140 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1974</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">20
          East Clementon Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 769 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,055 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 222 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 769 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,277 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,046 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 673 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Berwyn Park</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,414 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,533 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,460 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 362 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,533 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,822 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,355 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,983 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2000
          Midlantic Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,585 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,202 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,823 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 400 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,202 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,223 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,425 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,942 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">220
          Commerce Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Fort
          Washington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,086 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,338 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 544 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,086 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,882 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,968 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 966 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1974</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Berwyn Park</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,151 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,206 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 234 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,206 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,656 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,862 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,743 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Welsh Road - Building I</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,513 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 894 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,572 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 441 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 894 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,013 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,907 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 991 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Welsh Road - Building II</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,067 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 396 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,585 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 102 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 396 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,687 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,083 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 324 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">3000
          West Lincoln Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 569 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,293 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 119 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 569 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,412 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,981 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 519 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">321
          Norristown Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lower
          Gwyned</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,289 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,176 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 753 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,289 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,929 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,218 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,191 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1972</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">323
          Norristown Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lower
          Gwyned</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,685 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,751 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 365 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,685 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,116 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,801 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,429 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">4
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 183 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 726 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 183 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 743 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 926 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 138 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1974</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">4000
          Midlantic Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,205 </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 714 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,085 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (1,979</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 714 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,106 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,820 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 638 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1981</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">4000/5000
          West Lincoln Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 877 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,526 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 382 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 877 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,908 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,785 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 845 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">5
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 32 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 25 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 57 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 65 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1968</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">5
          U.S. Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 81 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 83 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 104 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">50
          East Clementon Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="center">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 114 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 964 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 114 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 968 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,082 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 180 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
</table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">

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  <tr align="center" valign="bottom">
    <td width="10%"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="5"><strong><font size="1" face="serif">Initial Cost</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="7"><strong><font size="1" face="serif">Gross Amount at Which
          Carried<br>
      December 31, 2002</font></strong></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
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  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Net<br>
      Improvements<br>
      (Retirements)<br>
      Since<br>
      Acquisition</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Accumulated<br>
      Depreciation at<br>
      December 31,<br>
      2002 (b)</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif"> Encumberances at <br>
      December 31, 2002 </font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date of<br>Construction</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date<br>
      Acquired</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Depreciable<br>
      Life</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">City</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">State</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Total (a)</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="6%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="5%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left">
      <hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
  </tr>
  <tr></tr>
  <tr valign="bottom">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">500
          Office Center Drive</font></font></td>
    <td  width="1%"align="left">&nbsp;</td>
    <td width="6%" align="left"><font size="2" face="serif"><font face="serif" size="1">Ft.
          Washington</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="5%" align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,617 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,480 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="4%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,393 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,617 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,873 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,490 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="4%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,054 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">501
          Office Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Ft.
          Washington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,796 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,192 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,146 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,796 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,338 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,134 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,024 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">55
          U.S. Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,116 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,435 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 51 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,116 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,486 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,602 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 836 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">6
          East Clementon Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,345 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,366 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 269 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,345 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,635 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,980 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,132 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1980</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">655
          Business Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,808 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 544 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,529 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 458 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 544 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,987 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,531 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 741 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7
          Foster Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Gibbsboro</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 231 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 921 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 110 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 231 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,031 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,262 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 194 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">748
          Springdale Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 236 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 931 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 142 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 236 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,073 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,309 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 262 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">855
          Springdale Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 838 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,370 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 134 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 838 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,504 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,342 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 756 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9000
          Midlantic Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,200 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,472 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,895 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 23 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,472 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,918 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,390 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,222 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9000
          West Lincoln Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 610 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 272 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 610 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,694 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,304 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 622 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Five
          Eves Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 703 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,819 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 649 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 703 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,468 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,171 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 898 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Four
          A Eves Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 539 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,168 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 198 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 539 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,366 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,905 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 621 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Four
          B Eves Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 588 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,369 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 86 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 588 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,455 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,043 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 556 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King &amp; Harvard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,726 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,069 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,193 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,726 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,262 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,988 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 746 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Main
          Street - Piazza</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Voorhees</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 696 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,802 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 80 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 696 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,882 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,578 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 635 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Main
          Street - Plaza 1000</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Voorhees</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,729 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,931 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,219 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,729 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,150 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,879 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,792 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Main
          Street - Promenade</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Voorhees</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 531 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,052 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 226 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 531 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,278 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,809 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 518 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Main
          Street- CAM</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Voorhees</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 98 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 109 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 112 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">One
          South Union Place</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 771 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,047 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 369 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 771 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,416 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,187 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,039 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Two
          Eves Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 818 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,461 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 124 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 818 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,585 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,403 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 853 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000
          First Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,629 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,772 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,936 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 310 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,772 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,246 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,018 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,747 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1980</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1009
          Lenox Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lawrenceville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,728 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,876 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,284 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,526 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,876 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21,810 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 26,686 </font></font></td>
    <td align="right">&nbsp;</td>

    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,034 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1020
          First Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,692 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,168 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,576 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 435 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,168 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,011 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,179 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,357 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">104
          Windsor Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">East
          Windsor</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 977 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,918 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,006 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 977 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,924 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,901 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,433 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1040
          First Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,032 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,861 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,282 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,094 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,861 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,376 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,237 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,252 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1060
          First Avenue</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,515 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,712 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,953 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,712 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,959 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,671 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,680 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1105
          Berkshire Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Reading</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,115 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,510 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 451 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,115 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,961 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,076 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 934 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1150
          Berkshire Boulevard</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Reading</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 435 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,748 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 257 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 435 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,005 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,440 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 385 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1979</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">14
          Campus Boulevard </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown
          Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,754 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,243 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,217 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 480 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,243 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,697 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,940 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,452 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">150
          Corporate Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Camp
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 964 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,871 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 161 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 964 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,032 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,996 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 710 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">160-180
          West Germantown Pike</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">East
          Norriton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,409 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,603 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,418 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 546 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,603 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,964 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,567 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,260 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1957
          Westmoreland Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,861 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,062 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,241 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 284 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,062 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,525 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,587 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 775 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1975</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Corporate Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Camp
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,647 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,606 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 60 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,647 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,666 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,313 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,136 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Nationwide Drive </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 100 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 403 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 100 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 403 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 503 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 69 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1978</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">201
          North Walnut Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Wilmington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 23,557 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,359 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 41,509 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 462 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,359 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 41,971 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 52,330 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,493 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2100-2108
          West Laburnum</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,285 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,482 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,846 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,557 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,482 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,403 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,885 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,612 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1976</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2120
          Tomlynn Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 767 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 280 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,125 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 93 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 280 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,218 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,498 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 198 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2130-2146
          Tomlynn Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 906 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 353 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,416 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 353 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,417 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,770 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 217 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2169-79
          Tomlynn Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,123 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,695 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 75 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,770 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,192 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 301 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2201
          Dabney Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>

    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 367 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,470 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 181 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 367 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,651 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,018 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 292 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1962</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2201-2245
          Tomlynn Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,811 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,020 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,067 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 402 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,020 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,469 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,489 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 809 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2212-2224
          Tomlynn Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,325 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 502 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,014 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 71 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 502 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,085 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,587 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 318 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2221-2245
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,372 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 530 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,123 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 27 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 530 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,150 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,680 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 328 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1994</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2240
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 682 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,059 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,067 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,331 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 167 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2244
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,411 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 551 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,203 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 551 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,204 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,755 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 338 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1993</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2246
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,167 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 455 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,822 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 455 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,823 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,278 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 279 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2248
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,382 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 511 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,049 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 139 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 511 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,188 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,699 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 361 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2251
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,036 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 387 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,552 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 84 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 387 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,636 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,023 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 265 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2256
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 936 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 356 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,427 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 44 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 356 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,471 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,827 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 237 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2277
          Dabney Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,302 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 507 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,034 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 507 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,035 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,542 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 312 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2401
          Park Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 182 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 728 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 75 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 182 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 803 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 985 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 169 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2404
          Park Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 167 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 668 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 129 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 167 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 797 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 964 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 203 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1983</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2490
          Boulevard of the Generals</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 348 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,394 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 36 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 348 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,430 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,778 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1975</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2511
          Brittons Hill Road</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,131 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,201 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,820 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 93 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,201 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,913 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,114 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 775 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2812
          Emerywood Parkway</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Henrico</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,779 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,069 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,281 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 77 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,069 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,358 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,427 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 657 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1980</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Arboretum Place</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,092 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,450 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21,892 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,997 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,450 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 23,889 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 29,339 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,312 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Corporate Center Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Camp
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,823 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,301 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 316 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,823 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,617 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 24,440 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,435 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">301
          North Walnut Street</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Wilmington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,740 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,495 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 34,016 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,340 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,495 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 35,356 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 43,851 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,145 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">303
          Fellowship Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,612 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,493 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,055 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 361 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,493 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,416 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,909 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,113 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1979</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">304
          Harper Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,244 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 657 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,674 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 437 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 657 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,111 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,768 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 584 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1975</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">305
          Fellowship Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,643 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,768 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 813 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,422 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,581 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,003 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,344 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1980</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">305
          Harper Drive</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 375 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 222 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 913 </font></font></td>

    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 222 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 914 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,136 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 140 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1979</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
</table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
<div style="page-break-before:always"><a name="p?"></a></div>
<page>
<p><a href="#index"><font size="2">Back to Index</font></a></p>
<br>
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<table border="0" width="100%" cellspacing="0" cellpadding="0" align="center">
  <tr align="center" valign="bottom">
    <td width="10%"><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="5"><strong><font size="1" face="serif">Initial Cost</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="7"><strong><font size="1" face="serif">Gross Amount at Which
          Carried<br>
      December 31, 2002</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="5"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="7"><hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Net<br>
      Improvements<br>
      (Retirements)<br>
      Since<br>
      Acquisition</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="4"><strong><font size="1" face="serif">Accumulated<br>
      Depreciation at<br>
      December 31,<br>
      2002 (b)</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif"> Encumberances at <br>
      December 31, 2002 </font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Building and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date of<br>Construction</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Date<br>
      Acquired</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2"><strong><font size="1" face="serif">Depreciable<br>
      Life</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">City</font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">State</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">Total (a)</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="6%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="5%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left">
      <hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="4%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left"><hr size="1" noshade>
    </td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right">&nbsp;</td>
  </tr>
  <tr></tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">307
          Fellowship Drive</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="6%" align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="5%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,710 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,564 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,342 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="4%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 301 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,564 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,643 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,207 </font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="4%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,152 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">1981</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">308
          Harper Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,643 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,663 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 200 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,643 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,863 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,506 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,079 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1976</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">309
          Fellowship Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,840 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,518 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,154 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 929 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,518 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,083 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,601 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,173 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">33
          West State Street</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Trenton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,016 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 24,091 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 105 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,016 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 24,196 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 30,212 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,231 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">426
          Lancaster Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Devon</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,689 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,756 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,689 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,760 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,449 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,238 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">4364
          South Alston Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Durham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NC</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,910 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,622 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,419 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 771 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,622 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,190 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,812 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,071 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">4805
          Lake Brooke Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Glen
          Allen</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,233 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,640 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,567 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 60 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,640 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,627 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,267 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,019 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">50
          East State Street</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Trenton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,926 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 35,735 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 375 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,926 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 36,110 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 45,036 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,349 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">50
          Swedesford Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Frazer</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,447 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,902 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,254 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 365 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,902 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,619 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,521 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,397 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">500
          Nationwide Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 173 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 850 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 787 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 173 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,637 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,810 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 280 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1977</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">52
          Swedesford Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Frazer</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,108 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,242 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,579 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 702 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,242 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,281 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21,523 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,829 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">520
          Virginia Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Ft.
          Washington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 845 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,455 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 380 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 845 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,835 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,680 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 817 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">600
          Corporate Circle Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,452 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 61 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,513 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,876 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 261 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1978</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">600
          East Main Street</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,619 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,809 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 38,255 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,259 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,809 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 40,514 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 50,323 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,523 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">600
          Park Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,012 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,048 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,012 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,051 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,063 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 715 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1964</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">610
          Freedom Business Center</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,503 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,017 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,070 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 660 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,017 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,730 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,747 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,700 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">620
          Allendale Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,020 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,839 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 635 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,020 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,474 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,494 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 799 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1961</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">620
          Freedom Business Center</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,254 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,770 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,014 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 382 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,770 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,396 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,166 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,110 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">630
          Clark Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 547 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,190 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 547 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,191 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,738 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 387 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1960</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">630
          Freedom Business Center</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>

    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,362 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,773 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,144 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 460 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,773 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,604 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,377 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,223 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">640
          Allendale Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 432 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 208 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 640 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 640 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 484 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">640
          Freedom Business Center</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,222 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,222 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,891 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 800 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,222 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,691 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 21,913 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,198 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">650
          Park Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,917 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,378 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,077 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,917 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,455 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,372 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 966 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1968</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">660
          Allendale Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 835 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,343 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 186 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 835 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,529 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,364 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 652 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1962</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">680
          Allendale Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 689 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,756 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 678 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 689 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,434 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,123 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 663 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1962</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">700
          East Gate Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,174 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,569 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,436 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 690 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,569 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,126 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,695 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,422 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">701
          East Gate Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,932 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,736 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,877 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 266 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,736 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,143 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,879 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,124 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7010
          Snowdrift Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,379 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 817 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,324 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 35 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 817 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,359 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,176 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 520 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7150
          Windsor Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,826 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,034 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,219 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 275 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,034 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,494 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,528 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 825 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7350
          Tilghman Street</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,414 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,716 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,087 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,414 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,803 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,217 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,602 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">741
          First Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,287 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,151 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,287 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,154 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,441 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 909 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1966</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7450
          Tilghman Street</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,219 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,867 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,631 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,306 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,867 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,937 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,804 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,342 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">751-761
          Fifth Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,097 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,391 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,097 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,394 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,491 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 775 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1967</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7535
          Windsor Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,762 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,376 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,400 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 673 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,376 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,073 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,449 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,230 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">755
          Business Center Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,224 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,334 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 646 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,980 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,343 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 773 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">800
          Corporate Circle Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Harrisburg</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 414 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,653 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 109 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 414 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,762 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,176 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 310 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1979</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">815
          East Gate Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,103 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 637 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,584 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 119 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 637 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,703 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,340 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 485 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">817
          East Gate Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,022 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 611 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,426 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 59 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 611 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,485 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,096 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 381 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">875
          First Avenue</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 618 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,473 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,417 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 618 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,890 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,508 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 646 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1966</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9011
          Arboretum Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,014 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,856 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,702 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 233 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,856 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,935 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,791 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,311 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9100
          Arboretum Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,802 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,489 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 540 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,363 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,029 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,392 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,022 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">920
          Harvest Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Blue
          Bell</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,433 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,738 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 482 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,433 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,220 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,653 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,765 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9200
          Arboretum Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,694 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 984 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,973 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 280 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 984 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,253 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,237 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 677 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9210
          Arboretum Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,909 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,110 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,474 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 72 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,110 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,546 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,656 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 698 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">9211
          Arboretum Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,591 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 581 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,433 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 93 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 581 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,526 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,107 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 386 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">922
          Swedesford Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Frazer</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 218 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (1</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 218 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 218 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">925
          Harvest Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Blue
          Bell</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,671 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,606 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 235 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,671 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,841 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,512 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,168 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">993
          Lenox Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lawrenceville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,906 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,811 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,996 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (6,615</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,811 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,381 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,192 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,987 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">997
          Lenox Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lawrenceville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,464 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,410 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,700 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 363 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,410 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,063 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,473 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,921 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">East
          Gate Land</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 0 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> (1</font></font></td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">)</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marine
          Center - Pier #12</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Philadelphia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 151 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 151 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 151 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marine
          Center - Pier #24</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Philadelphia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 59 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 59 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 59 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marine
          Center Pier #13-15</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Philadelphia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 25 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 25 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 25 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Philadelphia
          Marine Center</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Philadelphia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 533 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,196 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 37 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 533 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,233 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,766 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 341 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">11
          Campus Boulevard </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown
          Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,787 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,112 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,067 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 595 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,112 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,662 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,774 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 582 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">2000
          Lenox Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lawrenceville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,678 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,291 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,221 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,984 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,291 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,205 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,496 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,799 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">630
          Allendale Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,797 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,836 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,028 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,945 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,836 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 19,973 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 22,809 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,825 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>

    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">630
          Dresher Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Horsham</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 771 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,083 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 796 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 771 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,879 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,650 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 441 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7130
          Ambassador Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 761 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,046 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 761 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,056 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,817 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 371 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1050
          Westlakes Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,056 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,754 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,810 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,810 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2000</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1700
          Paoli Pike</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">East
          Goshen</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 458 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 559 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,326 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 458 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,885 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,343 </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 445 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2000</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2000</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
</table>
<p align="center">&nbsp;</p>
<hr noshade align="center" width="100%" size="2">
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    <td colspan="11"><strong><font size="1" face="serif">Gross Amount at Which
          Carried<br>
      December 31, 2002</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td colspan="2">&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" rowspan="4"><strong><font size="1" face="serif">Net<br>
      Improvements<br>
      (Retirements)<br>
      Since<br>
      Acquisition&nbsp;</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td colspan="2" rowspan="4"><strong><font size="1" face="serif">Accumulated<br>
      Depreciation at<br>
      December 31,<br>
      2002 (b)&nbsp;</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
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    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
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    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2" colspan="2"><strong><font size="1" face="serif"> Encumberances
          at <br>
      December 31, 2002 </font></strong></td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
    <td rowspan="2">&nbsp;</td>
    <td colspan="2" rowspan="2"><strong><font size="1" face="serif">Building
          and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td colspan="2" rowspan="2"><strong><font size="1" face="serif">Building
          and<br>
      Improvements</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td rowspan="2">&nbsp;</td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td rowspan="2"><strong><font size="1" face="serif">Date of<br>Construction</font></strong><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td rowspan="2"><strong><font size="1" face="serif">Date<br>
      Acquired&nbsp;</font></strong></td>
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td rowspan="2"><strong><font size="1" face="serif">Depreciable<br>
      Life&nbsp;</font></strong></td>
  </tr>
  <tr align="center" valign="bottom">
    <td><strong><font size="1" face="serif">&nbsp;</font></strong></td>
    <td>&nbsp;</td>
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    <td><strong><font size="1" face="serif">State</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td><strong></strong></td>
    <td colspan="2"><strong><font size="1" face="serif">Land</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2"><strong><font size="1" face="serif">Total (a)</font></strong></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><hr size="1" noshade>
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    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="left" colspan="2"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="left" colspan="2">
      <hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp; </td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp; </td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp;</td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp; </td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="1" noshade>
    </td>
    <td width="1%" align="left">&nbsp; </td>
    <td><hr size="1" noshade>
        <strong></strong></td>
    <td>&nbsp;</td>
    <td>
      <hr size="1" noshade>
    </td>
    <td>&nbsp;</td>
    <td>
      <hr size="1" noshade>
    </td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">10
          Lake Center Drive</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="6%" align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="4%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,793 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,880 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,521 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 107 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,880 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,628 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="3%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,508 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="1%" align="right">&nbsp;</td>
    <td width="2%" align="right"><font size="2" face="serif"><font face="serif" size="1"> 342 </font></font></td>
    <td width="1%" align="left">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td width="1%" align="center">&nbsp;</td>
    <td width="3%" align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Arrandale Boulevard</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 970 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,878 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 970 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,880 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,850 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 170 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Gateway Centre Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 391 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,410 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,225 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 391 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,635 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,026 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 357 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Lindenwood Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Malvern</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,214 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 473 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,892 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 29 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 473 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,921 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,394 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 85 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1985</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">101
          Lindenwood Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Malvern</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,152 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,606 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 77 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,152 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,683 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 20,835 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 735 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1100
          Cassett Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,695 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,779 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,695 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,783 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,478 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 297 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">111
          Arrandale Boulevard</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,200 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 262 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,048 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 262 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,049 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,311 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 46 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">111/113
          Pencader Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newark</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,092 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,366 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,092 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,369 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,461 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 191 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1160
          Swedesford Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,633 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,781 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,124 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 430 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,781 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,554 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,335 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 390 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1180
          Swedesford Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,814 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,086 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,342 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 184 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,086 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,526 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,612 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 400 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">161
          Gaither Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Mt.
          Laurel</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,016 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,064 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 295 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,016 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,359 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,375 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 200 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">17
          Campus Boulevard</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown
          Square</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,211 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,108 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,155 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 22 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,108 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,177 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,285 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 384 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Lake Drive East</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,686 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,069 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,275 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 130 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,069 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,405 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,474 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 368 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Lindenwood Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Malvern</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,499 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 324 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,295 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 324 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,297 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,621 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 57 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">210
          Lake Drive East</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,652 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,645 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,579 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 50 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,645 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,629 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,274 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 291 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">220
          Lake Drive East</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Cherry
          Hill</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,144 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,798 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 54 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,144 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 8,852 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,996 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 466 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">30
          Lake Center Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Marlton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,837 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,043 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,171 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,043 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,187 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,230 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 189 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">300
          Lindenwood Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Malvern</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,925 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 848 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,394 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 848 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,396 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,244 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 148 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1984</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">301
          Lindenwood Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Malvern</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,729 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 10,915 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,729 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,179 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,908 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 533 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">412
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,195 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,779 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 436 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,195 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,215 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,410 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 255 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">429
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,371 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,368 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,471 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,368 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,474 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,842 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 239 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1996</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">436
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 994 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,978 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 994 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,992 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,986 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 178 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">440
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,134 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 982 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,927 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 982 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,931 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,913 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 172 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">442
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,852 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 894 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,576 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 894 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,578 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,472 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 156 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1991</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">457
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 777 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,107 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 777 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,109 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,886 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 136 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">467
          Creamery Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 906 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,623 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 906 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,625 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,531 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 159 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">479
          Thomas Jones Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,075 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,299 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 65 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,075 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,364 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,439 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 196 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">481
          John Young Way</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Exton</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,526 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 496 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,983 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 496 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,985 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,481 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 87 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">555
          Croton Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">King of Prussia</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,309 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,486 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 17,943 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 69 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,486 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,012 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 22,498 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 804 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1999</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">7360
          Windsor Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Allentown</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,451 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,618 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,039 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,451 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,657 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,108 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 414 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Katchel
          Farmhouse</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Reading</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 111 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 111 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 111 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 74 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Two
          Righter Parkway</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Wilmington</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,802 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,217 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,802 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,224 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,026 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 724 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2001</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">100
          Brandywine Boulevard</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newtown </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,784 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,811 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,971 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,784 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,782 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,566 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 324 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">1000
          Lenox Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Lawrenceville</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">NJ</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,174 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,696 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,174 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,699 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,873 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 59 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1982</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">15
          Campus Boulevard </font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">West
          Goshen</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,958 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,164 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,896 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,127 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,164 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,023 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,187 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 223 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">200
          Commerce Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newark</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,272 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 911 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,414 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,552 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 911 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5,966 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,877 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 452 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1998</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">400
          Berwyn Park</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Berwyn</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,726 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,657 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,462 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,264 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,657 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 6,726 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,383 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 440 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">400
          Commerce Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Newark</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">DE</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,507 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,528 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,220 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,459 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,528 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 13,679 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,207 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,241 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1997</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">401
          Plymouth Road</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,241 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 16,131 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 4,689 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,241 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 20,820 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 28,061 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 830 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">600
          West Germantown Pike</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,633 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,652 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,288 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 47 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,652 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 15,335 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,987 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 320 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1986</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">980
          Harvest Drive</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Blue
          Bell</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,079 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,821 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 5 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,079 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 7,826 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 9,905 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 66 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">630
          West Germantown Pike</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,009 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,572 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,435 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 43 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,572 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,478 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,050 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 302 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1990</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">620
          West Germantown Pike</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,220 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,558 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,743 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 65 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,558 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,808 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,366 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 309 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1988</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">6802
          Paragon Place</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Richmond</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">VA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> - </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,917 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,454 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 251 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 2,917 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 11,705 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,622 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 168 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1989</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#ffffff">
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">610
          West Germantown Pike</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">Plymouth
          Meeting</font></font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1">PA</font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 12,170 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,651 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,514 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 126 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 3,651 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 14,640 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 18,291 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 315 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">1987</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">2002</font></font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif"><font face="serif" size="1">40</font></font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="1" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="right"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="right">&nbsp;</td>
    <td align="left"><font size="2" face="serif">&nbsp;</font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 591,055 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 353,111 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,424,682 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 112,214 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 353,111 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,536,898 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 1,890,009 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="left"><font size="2" face="serif"><font face="serif" size="1"> $</font></font></td>
    <td align="right"><font size="2" face="serif"><font face="serif" size="1"> 245,230 </font></font></td>
    <td align="left">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
    <td align="center">&nbsp;</td>
    <td align="center"><font size="2" face="serif">&nbsp;</font></td>
  </tr>
  <tr valign="top" bgcolor="#FFFFFF">
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="2" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="2" noshade>
    </td>
    <td align="left">&nbsp;</td>
    <td colspan="2" align="right"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td colspan="2" align="left"><hr size="2" noshade>
    </td>
    <td align="right">&nbsp;</td>
    <td align="left">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
    <td align="center">&nbsp;</td>
  </tr>
</table>

<p align="left">&nbsp;</p>
<p align="center"><font face="serif" size="2">F-27</font></p>
<hr noshade align="center" width="100%" size="2">

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<DOCUMENT>
<TYPE>EX-9
<SEQUENCE>5
<FILENAME>ex10-03.txt
<DESCRIPTION>EX10-03.TXT
<TEXT>
<PAGE>

                                    EXHIBIT A

                  AMENED AND RESTATED ARTICLES OF INCORPORATION

                                       OF

                     BRANDYWINE REALTY SERVICES CORPORATION
                    (as amended and restated on May 7, 2001)

                  In compliance with the requirements of Section 1306 of the
Pennsylvania Business Corporation Law of 1988, as amended (15 Pa. C.S.A.
ss. 1306), the undersigned, desiring to be incorporated as a business
corporation, hereby certifies that:

                                   Article I

                  The name of the corporation (which is hereinafter referred to
as the "Corporation") shall be Brandywine Realty Services Corporation.

                                   Article II

                  The address of the Corporation's registered office in the
Commonwealth of Pennsylvania is 14 Campus Boulevard, Suite 100, Newtown Square,
PA 19073.

                                  Article III

                  The Corporation is incorporated under the Pennsylvania
Business Corporation Law of 1988, as amended (the "BCL"), and shall have
unlimited power to engage in all lawful business for which corporations may be
incorporated under the BCL.

                                   Article IV

A. Number of Shares.

                  The aggregate number of shares that the Corporation shall have
authority to issue is Nineteen Thousand Four Hundred Seventy Three (19,473), Ten
Thousand (10,000) shares of which shall be Common Stock, par value $.0l per
share ("Common Stock"), and Nine Thousand Four Hundred Seventy Three (9,473)
shares of which shall be Non-Voting Preferred Stock, stated value $.0l per share
("Preferred Stock").

B. Voting Rights.

                  Except as may be provided in these Articles of Incorporation,
the holders of shares of Common Stock shall have the exclusive right to vote on
all matters at all meetings of the shareholders of the Corporation, and shall be
entitled to one vote for each share of Common Stock entitled to vote at such
meeting. Except as may be provided in these Articles of Incorporation, and as
may be provided by applicable law, the shares of Preferred Stock shall not be
entitled to vote.

                                      A-1

<PAGE>
C. Dividends.

                  The holders of shares of the Preferred Stock and Common Stock
shall be entitled to receive dividends out of funds legally available therefor,
at such times and in such amounts as may be determined by the Board of
Directors, provided that the amount per share payable on the Common Stock shall
be equal to the amount per share payable on the Preferred Stock and the amount
per share payable on the Preferred Stock shall be equal to the amount per share
payable on the Common Stock.

                                    Article V

                  No director of the Corporation shall be personally liable, as
such, for monetary damages for any action taken, or any failure to take any
action, except to the extent that by law a director's liability for monetary
damages may not be limited.

                                   Article VI

                  In lieu of any statutory standard of care that would otherwise
be applicable in the absence of the provisions of this article, each officer of
the Corporation shall perform his duties as an officer in good faith, in a
manner he reasonably believes to be in the best interests of the Corporation and
with such care, including reasonable inquiry, skill and diligence, as a person
of ordinary prudence would use under similar circumstances, except that
notwithstanding the foregoing no officer shall be personally liable for monetary
damages (other than under criminal statutes and under federal, state and local
laws imposing liability on officers for the payment of taxes) unless his conduct
constitutes self-dealing, willful misconduct or recklessness. In performing his
duties, each officer shall be entitled to rely on others, to consider all
factors deemed by him to be pertinent, and to be presumed to be acting in the
best interests of the Corporation, in each case to the same extent as directors
of the Corporation are so entitled under the BCL.

                                   Article VII

                  Without the affirmative approval (at a meeting of shareholders
duly called in accordance with the BCL) of the holder(s) of a majority of the
issued and outstanding shares of Preferred Stock, the Corporation shall not (a)
change, alter or amend any provision of these Articles of Incorporation, (b)
reclassify, combine, or split any shares of its capital stock, (c) issue or
authorize for issuance any shares of its capital stock, or (d) directly or
indirectly, retire, redeem, purchase or otherwise acquire any shares of
Preferred Stock.

                                  Article VIII

                  The name and post office address of the incorporator is as
follows:

 NAME                                       ADDRESS
 Jacqueline Y. Eastridge                    Pepper Hamilton LLP
                                            3000 Two Logan Square
                                            18th & Arch Streets
                                            Philadelphia, PA  19103-2799


                                      A-2

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>6
<FILENAME>ex10-75.txt
<DESCRIPTION>EX10-75.TXT
<TEXT>
<PAGE>

                 REPRESENTATIONS, WARRANTIES AND AGREEMENTS

                                       OF

                     COHEN & STEERS CAPITAL MANAGEMENT, INC

The undersigned hereby certifies to Brandywine Realty Trust, a Maryland real
estate investment trust (the "Company"), that he is the duly appointed President
of Cohen & Steers Capital Management, Inc., a New York corporation ("C&S"), and
on behalf of C&S, pursuant to due authorization, does further hereby certify,
represent, warrant, and agree that:

1.       C&S acknowledges its understanding that the representations, warranties
         and agreements contained herein are made in order to obtain an
         exception for C&S to the ownership limitations (the "Ownership Limit")
         set forth in the Declaration of Trust, as amended to date (the
         "Articles"), of the Company. Such exception, which is sought with
         respect to the common shares of beneficial interest of the Company (the
         "Common Shares"), will allow C&S to be a "beneficial owner," as defined
         in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (a
         "Rule 13d-3 Owner"), of up to, but not in excess of, 12.5% of the
         outstanding Common Shares (the "C&S Shares").

2.       C&S's ownership, as a Rule 13d-3 Owner, of the C&S Shares will not
         result in any Individual being the Tax Owner of Common Shares in excess
         of 9.8% of the value of all outstanding Common Shares. As used herein,
         the term "Tax Owner" of Common Shares shall mean the person who is
         considered to own such Common Shares applying the rules of Section
         856(h) of the Internal Revenue Code of 1986 (the "Code"), including the
         relevant provisions of Section 542(a)(2) and Section 544 as modified by
         Section 856(h) of the Code. The term "Individual" shall mean a natural
         person or an organization treated as an individual under the provisions
         of Section 542(a)(2) of the Code, applying the relevant rules of
         Section 856(h) of the Code.

3.       Neither C&S nor any Investor owns directly or indirectly any stock or
         other equity interest in excess of 9.8% in any Tenant. The term
         "Investor" means any owner of C&S or any open-end or closed-end fund
         for which C&S or an affiliate acts as an investment advisor. The term
         "Tenant" means any entity that leases space from the Company or from
         any direct or indirect subsidiary partnership, corporation or limited
         liability company in which Company owns an interest. C&S shall notify
         the Company in the event that C&S or any Investor acquires any stock or
         other equity interest in excess of 9.8% in any Tenant.

4.       C&S will not dispose of any of the C&S Shares in violation of the
         Ownership Limit or in a manner that would cause any Individual to be
         the Tax Owner of more than 9.8% of the outstanding Common Shares.
<PAGE>

5.       C&S agrees that if, for any reason, (i) any of the above
         representations or warranties is violated, (ii) the ownership, as a
         Rule 13d-3 Owner, of the C&S Shares causes any Individual to be the Tax
         Owner of more than 9.8% of the outstanding Common Shares, (iii) C&S or
         any Investor acquires any stock or other equity interest in excess of
         9.8% in any Tenant, or (iv) in the sole reasonable judgment of the
         Company, the ownership, as a Rule 13d-3 Owner, of the C&S Shares could
         otherwise jeopardize the Company's tax status as a real estate
         investment trust for federal income tax purposes, then the waiver of
         the ownership limits granted by the Company to C&S shall be deemed void
         ab initio and shall result in a conversion of all or a portion (as
         reasonably determined by the Company to be necessary) of the C&S Shares
         into Excess Shares under the Articles.

6.       C&S acknowledges its understanding that the foregoing exception to the
         Ownership Limit is only being granted to C&S, and not to any other
         person (including any of the Investors).

7.       C&S agrees that it shall not take any of the following actions with
         respect to any Common Shares for which C&S is the beneficial owner as
         defined in Rule 13d-3 under the Securities Exchange Act of 1934, as
         amended, in excess of 9.8% of the outstanding Common Shares (such
         excess shares being referred to below as "Additional Shares"), it being
         understood that the limitations of this Section 7 shall not apply to
         Common Shares that are not Additional Shares:

         a.       Solicit proxies from shareholders of the Company, become a
                  "participant" in any "election contest" (as such terms are
                  used in Rule 14a-11 of the Securities Exchange Act of 1934, as
                  amended), with respect to the Company, or make any
                  communication (other than as required by law) referred to in
                  Rule 14a-1(l)(2)(iv) of the Securities Exchange Act of 1934,
                  as amended, in connection with any election contest or other
                  vote by shareholders of the Company or otherwise that is
                  contrary to or conflicts with actions taken by the Board;

         b.       Vote for the removal of any member of the Board, except
                  removal "for cause" as such term is used under Maryland law;

         c.       Vote for any individual nominated for election to the Board
                  other than those individuals nominated by the Board or a
                  Committee thereof;

         d.       Call or seek to have called any meeting of the shareholders of
                  the Company;

8.       Otherwise act, alone or in concert with others to (i) solicit, propose,
         seek to effect or negotiate with any other person with respect to (A)
         any business combination with the Company or (B) any restructuring,
         recapitalization or similar transaction of the Company, (ii) solicit,
         propose, seek to effect or negotiate with any other person with respect
         to, or announce an intent to make, any tender offer or exchange offer
         for any voting securities of the Company, or (iii) assist, participate
         in, facilitate or solicit any effort or attempt by any persons to do or
         seek to do any of the foregoing.

9.       The undersigned has the authority to execute this document on behalf of
         C&S.

IN WITNESS WHEREOF, I have executed this certificate as of this 11th day of
December, 2002.



Cohen & Steers Capital Management, Inc.


By:  /s/ Martin Cohen
     --------------------------
         Martin Cohen
         President




<PAGE>



                           WAIVER OF OWNERSHIP LIMITS


                      [Brandywine Realty Trust Letterhead]



                                                              December 12, 2002



Cohen & Steers Capital Management, Inc.
757 Third Avenue
New York, New York 10017


Re:      Share Ownership Limits

                  Reference is made to the Representations, Warranties and
Agreements executed as of December 12, 2002 of Cohen & Steers Capital
Management, Inc. ("C&S") to Brandywine Realty Trust (the "Company"), containing
certain representations, warranties and agreements, a copy of which is attached
to this letter as Attachment I (the "Representation Letter"). Based upon the
Representation Letter, the Company hereby advises you that an exception to the
Ownership Limit referred to in the Representation Letter has been established
for C&S under the Declaration of Trust of the Company effective as the date
received on and subject to the terms, conditions and limitations set forth in
the Representation Letter.



                              Very truly yours,

                              BRANDYWINE REALTY TRUST


                              By:  /s/ Gerard H. Sweeney
                                  --------------------------------------------
                                  Name: Gerard H. Sweeney
                                  Title: President and Chief Executive Officer



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>7
<FILENAME>ex10-76.txt
<DESCRIPTION>EX10-76.TXT
<TEXT>
<PAGE>






                             BRANDYWINE REALTY TRUST

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                           (Effective October 1, 2000)


<PAGE>


                                    ARTICLE 1
                                     PURPOSE

                  In recognition of the services provided by certain key
employees, the Board of Trustees of Brandywine Realty Trust hereby adopts the
Brandywine Realty Trust Executive Deferred Compensation Plan to make additional
retirement benefits and increased financial security available on a tax-favored
basis to those individuals.

                                    ARTICLE 2
                                   DEFINITIONS


                  "Additional Company Contributions" are contributions credited
to the Participant's Retirement Distribution Account by the Company pursuant to
Section 4.6.

                  "Affiliate" means (a) any firm, partnership, or corporation
that directly or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with Brandywine Realty Trust; (b) any
other organization similarly related to Brandywine Realty Trust that is
designated as such by the Board; and (c) any other entity 50% or more of the
economic interests in which are owned, directly or indirectly, by Brandywine
Realty Trust.

                  "Beneficiary" means the person or persons designated as such
in accordance with Section 12.4.

                  "Board" means the Board of Trustees of Brandywine Realty
Trust.

                  "Change of Control" means:

                  (a)      the acquisition in one or more transactions by any
                           "Person" (as the term person is used for purposes of
                           Sections 13(d) or 14(d) of the Securities Exchange
                           Act of 1934, as amended (the "Exchange Act")) of
                           "Beneficial ownership" (within the meaning of Rule
                           13d-3 promulgated under the Exchange Act) of
                           twenty-five percent (25%) or more of the combined
                           voting power of Brandywine Realty Trust's then
                           outstanding voting securities (the "Voting
                           Securities"), provided that for purposes of this
                           clause (a) Voting Securities acquired directly from
                           Brandywine Realty Trust by any Person shall be
                           excluded from the determination of such Person's
                           Beneficial ownership of Voting Securities (but such
                           Voting Securities shall be included in the
                           calculation of the total number of Voting Securities
                           then outstanding); or

                  (b)      approval by shareholders of Brandywine Realty Trust
                           of:

                           (i)      a merger, reorganization or consolidation
                                    involving Brandywine Realty Trust if the
                                    shareholders of Brandywine Realty Trust
                                    immediately before such merger,
                                    reorganization or consolidation do not or
                                    will not own directly or indirectly
                                    immediately following such merger,
                                    reorganization or consolidation, more than
                                    fifty percent (50%) of the combined voting
                                    power of the outstanding voting securities
                                    of the company resulting from or surviving
                                    such merger, reorganization or consolidation
                                    in substantially the same proportion as
                                    their ownership of the Voting Securities
                                    outstanding immediately before such merger,
                                    reorganization or consolidation;

                                       2

<PAGE>

                           (ii)     a complete liquidation or dissolution of
                                    Brandywine Realty Trust; or

                           (iii)    an agreement for the sale or other
                                    disposition of all or substantially all of
                                    the assets of Brandywine Realty Trust; or

                  (c)      acceptance by shareholders of Brandywine Realty Trust
                           of shares in a share exchange if the shareholders of
                           Brandywine Realty Trust immediately before such share
                           exchange do not or will not own directly or
                           indirectly immediately following such share exchange
                           more than fifty percent (50%) of the combined voting
                           power of the outstanding voting securities of the
                           entity resulting from or surviving such share
                           exchange in substantially the same proportion as
                           their ownership of the Voting Securities outstanding
                           immediately before such share exchange.

                  "Code" means the Internal Revenue Code of 1986, as amended.

                  "Committee" means the Brandywine Realty Trust Plan Committee,
which shall consist of at least one person, the member(s) of which shall be
designated from time to time by the President and Chief Executive Officer of
Brandywine Realty Trust and which may include the President and Chief Executive
Officer.

                  "Company" means Brandywine Realty Trust and each such
subsidiary, division or Affiliate identified in Appendix A as may from time to
time participate in the Plan by or pursuant to authorization of the Board and
the board of directors of such subsidiary, division or Affiliate.

                  "Compensation" means, for any Eligible Employee, for any Plan
Year, the Participant's total taxable income received from the Company with
respect to such Plan Year, including, but not limited to, base earnings, regular
bonuses, commissions and overtime, plus pre-tax contributions and elective
contributions that are not includible in gross income under section 125,
402(a)(8) or 402(h) of the Code, and excluding income recognized in connection
with stock-related options and payments, reimbursements and other expense
allowances, fringe benefits (cash and noncash), moving expenses, deferred
compensation and welfare benefits, as determined pursuant to guidelines
established and revised by the Plan Administrator from time to time and
communicated to Eligible Employees.

                                       3
<PAGE>

                  "Compensation Deferral" means that portion of Compensation as
to which a Participant has made an annual election to defer receipt until the
date specified under the In-Service Distribution Option or the Retirement
Distribution Option.

                  "Compensation Limit" means the compensation limit of section
401(a)(17) of the Code, as in effect on the first day of the Plan Year.

                  "Disability" means a disability of an Employee which renders
such Employee unable to perform the full extent of his duties and
responsibilities by reason of his illness or incapacity which would entitle that
Employee to receive Social Security Disability Income under the Social Security
Act, as amended, and the regulations promulgated thereunder. "Disabled" means
having a Disability. The determination of whether a Participant is Disabled
shall be made by the Plan Administrator, whose determination shall be
conclusive; provided that,

                  (a) if a Participant is bound by the terms of an employment
agreement between the Participant and the Employer, whether the Participant is
"Disabled" for purposes of the Plan shall be determined in accordance with the
procedures set forth in said employment agreement, if such procedures are
therein provided; and

                  (b) a Participant bound by such an employment agreement shall
not be determined to be Disabled under the Plan any earlier than he would be
determined to be disabled under his employment agreement.

                  "Distribution Option" means the two distribution options which
are available under the Plan, consisting of the Retirement Distribution Option
and the In-Service Distribution Option.

                  "Distribution Option Account(s)" means, with respect to a
Participant, the Retirement Distribution Account and/or the In-Service
Distribution Account established on the books of account of the Company,
pursuant to Section 5.1, for each Distribution Option Period.

                  "Distribution Option Period" means, in general, a period for
which an Eligible Employee elects, in the Enrollment Agreement, the time and
manner of payment of amounts credited to the Eligible Employee's In-Service
Distribution Option Account for such period. The first Distribution Option
Period with respect to deferrals of Compensation classified as base salary shall
apply to base salary deferrals credited from October 1, 2000 to December 31,
2005, and with respect to deferrals of Compensation credited as bonus, shall
apply to bonus deferrals credited from January 1, 2001 to December 31, 2006.
Thereafter, a new Distribution Option Period will begin every five years.

                  "Earnings Crediting Options" means the deemed investment
options selected by the Participant from time to time pursuant to which deemed
earnings are credited to the Participant's Distribution Option Accounts.

                  "Effective Date" means October 1, 2000.

                                       4
<PAGE>

                  "Eligible Employee" means an Employee who is a member of a
group of selected management and/or highly compensated Employees of the Company
and who is designated by the Plan Administrator as eligible to participate in
the Plan.

                  "Employee" means any individual employed by the Company on a
regular, full-time basis (in accordance with the personnel policies and
practices of the Company), including citizens of the United States employed
outside of their home country and resident aliens employed in the United States;
provided, however, that to qualify as an "Employee" for purposes of the Plan,
the individual must be a member of a group of "key management or other highly
compensated employees" within the meaning of Sections 201, 301 and 401 of the
Employee Retirement Income Security Act of 1974, as amended; provided further,
that individuals who are not on an employee payroll of the Company or who have
entered into an agreement with the Company which excludes them from
participation in the Plan shall not be eligible to participate in the Plan.

                  "Employer" means Brandywine Realty Trust and its Affiliates.

                  "Employer Stock Fund" means a hypothetical investment fund
consisting entirely of Shares.

                  "Enrollment Agreement" means the authorization form which an
Eligible Employee files with the Plan Administrator to participate in the Plan.

                  "Excess Bonus" means that portion of a Compensation Deferral
as defined in Section 4.6.

                  "In-Service Distribution Account" means the Account maintained
for a Participant for each Distribution Option Period to which Compensation
Deferrals are credited pursuant to the In-Service Distribution Option.

                  "In-Service Distribution Option" means the Distribution Option
pursuant to which benefits are payable in accordance with Section 7.2.

                  "Matching Contributions" are contributions credited to the
Participant's Retirement Distribution Account by the Company pursuant to Section
4.3.

                  "Participant" means an Eligible Employee who has filed a
completed and executed Enrollment Agreement with the Plan Administrator or its
designee and is participating in the Plan in accordance with the provisions of
Article 4. In the event of the death or incompetency of a Participant, the term
shall mean his personal representative or guardian. An individual shall remain a
Participant until that individual has received full distribution of any amount
credited to the Participant's Distribution Option Account(s).

                  "Plan" means the Brandywine Realty Trust Executive Deferred
Compensation Plan, as amended from time to time.

                  "Plan Administrator" means the Committee.

                                       5
<PAGE>

                  "Plan Year" means the 12-month period beginning on each
January 1 and ending on the following December 31; provided that the initial
Plan Year shall commence on October 1, 2000 and end on December 31, 2000.

                  "Profit Sharing Contributions" are contributions credited to
the Participant's Retirement Distribution Account by the Company, based on a
percentage, as determined each year by the Company, of the Participant's
Compensation in excess of the Compensation Limit. To the extent that a
contribution is not deemed to be a Profit Sharing Contribution, it will be
considered Compensation classified as a bonus for purposes of the Plan.

                  "Retirement" means the termination of the Participant's
Service with the Employer (for reasons other than death) at or after age 55.

                  "Retirement Distribution Account" means the Account maintained
for a Participant to which Compensation Deferrals, Matching Contributions,
Additional Company Contributions, Profit Sharing Contributions, and Supplemental
Profit Sharing Contributions are credited pursuant to the Retirement
Distribution Option.

                  "Retirement Distribution Option" means the Distribution Option
pursuant to which benefits are payable in accordance with Section 7.1.

                  "Service" means the period of time during which an employment
relationship exists between an Employee and the Company, including any period
during which the Employee is on an approved leave of absence, whether paid or
unpaid. "Service" also includes employment with an Affiliate if an Employee
transfers directly between the Company and the Affiliate.

                  "Share" means a common share of beneficial interest, $.01 par
value per share, of Brandywine Realty Trust.

                  "Supplemental Profit Sharing Contributions" are contributions
credited to the Retirement Distribution Account of certain Participants by the
Company pursuant to Section 4.5.

                  "Termination Date" means the date of termination of a
Participant's Service with the Employer, determined without reference to any
compensation continuing arrangement or severance benefit arrangement that may be
applicable.

                                    ARTICLE 3
                    ADMINISTRATION OF THE PLAN AND DISCRETION

                  3.1. The Committee, as Plan Administrator, shall have full
power and authority to interpret the Plan, to prescribe, amend and rescind any
rules, forms and procedures as it deems necessary or appropriate for the proper
administration of the Plan and to make any other determinations and to take any
other such actions as it deems necessary or advisable in carrying out its duties
under the Plan. All action taken by the Plan Administrator arising out of, or in
connection with, the administration of the Plan or any rules adopted thereunder,
shall, in each case, lie within its sole discretion, and shall be final,
conclusive and binding upon the Company, the Board, all Employees, all
Beneficiaries of Employees and all persons and entities having an interest
therein. The Committee, may, however, delegate to any person or entity any of
its powers or duties under the Plan. To the extent of any such delegation, the
delegate shall become the Plan Administrator responsible for administration of
the Plan, and references to the Plan Administrator shall apply instead to the
delegate. Any action by the Committee assigning any of its responsibilities to
specific persons who are all trustees, officers, or employees of the Company
shall not constitute delegation of the Committee's responsibility but rather
shall be treated as the manner in which the Committee has determined internally
to discharge such responsibility.

                                       6
<PAGE>

                  3.2. The Plan Administrator shall serve without compensation
for its services unless otherwise determined by the Board. All expenses of
administering the Plan shall be paid by the Company.

                  3.3. The Company shall indemnify and hold harmless the Plan
Administrator from any and all claims, losses, damages, expenses (including
counsel fees) and liability (including any amounts paid in settlement of any
claim or any other matter with the consent of the Board) arising from any act or
omission of such member, except when the same is due to gross negligence or
willful misconduct.

                  3.4. Any decisions, actions or interpretations to be made
under the Plan by the Company, the Board or the Plan Administrator shall be made
in its respective sole discretion, not as a fiduciary and need not be uniformly
applied to similarly situated individuals and shall be final, binding and
conclusive on all persons interested in the Plan.

                                    ARTICLE 4
                                  PARTICIPATION

                  4.1. Election to Participate.

                           (a) Timing of Election to Participate. Any Eligible
Employee may enroll in the Plan effective as of the first day of a Plan Year by
filing a completed and fully executed Enrollment Agreement with the Plan
Administrator by a date set by the Plan Administrator.

                                    (i) Base Salary. With respect to the
deferral of Compensation that is classified as base salary by the Company, an
executed Enrollment Agreement must be filed by December 31 of the Plan Year
preceding the Plan Year in which such base salary is to be earned, or such
earlier time as may be established by the Plan Administrator.

                                    (ii) Bonus.

                                            (A) With respect to the deferral of
Compensation that is classified by the Company as bonus, an executed Enrollment
Agreement must be filed by December 31 of the Plan Year preceding the Plan Year
in which such bonus is earned, or such earlier time as may be established by the
Plan Administrator.


                                       7
<PAGE>


                                            (B) The Board may, as a condition of
a bonus award, require that it be deferred under the Plan and may prescribe
vesting and investment provisions with respect to such award, and may establish
separate deadlines by which Enrollment Agreements may be filed with respect to
such an award.

                                    (iii) Initial Short Plan Year. For the short
Plan Year commencing on October 1, 2000, an executed Enrollment Agreement must
be submitted by September 29, 2000 and shall be effective for (A) base salary
earned in payroll periods on and after October 1, 2000 and (B) bonuses earned in
2000 and payable in January 2001, and bonuses earned in 2001 and payable in
January 2002.

                                    (iv) Revocation of Election. Once each Plan
Year, a Participant may cancel his deferral election with respect to
Compensation that is classified by the Company as base salary, provided that
such cancellation is communicated to the Company in writing and shall be
effective for all base salary earned for the remainder of the Plan Year.
Elections with respect to bonuses are irrevocable.

                           (b) Amount of Deferral. Pursuant to said Enrollment
Agreement, the Eligible Employee shall irrevocably elect the percentages by
which (as a result of payroll deduction) an amount equal to any whole percentage
of the Participant's Compensation, up to 85 percent of base salary and 100
percent of bonus will be deferred; provided however, that deferrals will be made
after required non-deferrable payroll tax deductions and any deductions elected
by the Participant (including, but not limited to, deductions for payment of
health insurance premiums). The Plan Administrator may establish minimum amounts
that may be deferred under this Section 4.1 and may change such standards from
time to time. Any such limit shall be communicated by the Plan Administrator to
the Participants prior to the commencement of a Plan Year.

                           (c) Accounts to Which Amounts Credited. Pursuant to
said Enrollment Agreement, the Eligible Employee shall elect the Distribution
Option Accounts to which such amounts will be credited, and shall provide such
other information as the Plan Administrator shall require.

                           (d) Form of Distribution from Accounts. The first
Enrollment Agreement filed by an Eligible Employee during any Distribution
Option Period must also set forth the Participant's election as to the time and
manner of distribution from the Retirement Distribution Account and the
In-Service Distribution Account and of amounts credited for that Distribution
Option Period and related earnings.

                  4.2. New Eligible Employees. The Plan Administrator may, in
its discretion, permit Employees who first become Eligible Employees after the
beginning of a Plan Year to enroll in the Plan for that Plan Year by filing a
completed and fully executed Enrollment Agreement, in accordance with Section
4.1, as soon as practicable following the date the Employee becomes an Eligible
Employee but, in any event, not later than 30 days after such date.
Notwithstanding the foregoing, however, any election by an Eligible Employee to
defer compensation pursuant to this section 4.2 shall apply only to such amounts
as are earned by the Eligible Employee after the date on which such Enrollment
Agreement is filed.

                                       8
<PAGE>

                  4.3. Matching Contributions. The amount of Matching
Contributions credited to a Participant's Retirement Distribution Account shall
be equal to the matching contributions which would have been made on behalf of
the Participant under the Brandywine Realty Trust 401(k) Profit Sharing Plan but
for statutory limitations. Generally, the Matching Contribution shall be equal
to the "matching percentage" (30%, as of the effective date of this Plan) set
forth in the Brandywine Realty Trust 401(k) Profit Sharing Plan, multiplied by a
specified percentage (10%, as of the effective date of this Plan) of the
Participant's Compensation in excess of the Compensation Limit that is deferred
under Section 4.1 or 4.2, as applicable.

                  If (a) the dollar amount of the matching contributions under
the Brandywine Realty Trust 401(k) Profit Sharing Plan for the Plan Year was
limited due to the application of the provisions of Section 401(m) of the Code;
(b) the percentage of the Participant's Compensation that could be deferred
under the Brandywine Realty Trust 401(k) Profit Sharing Plan was limited to an
amount less than 10% (or such other percentage that may become effective after
the effective date of the Plan) because of other Code limitations; or (c) to the
extent that a Participant's compensation for purposes of the Brandywine Realty
Trust 401(k) Profit Sharing Plan is reduced to an amount that is below the
Compensation Limit in any Plan Year by reason of deferrals made under this Plan
(regardless of whether, prior to reduction, it was in excess of such
limitation), an additional Matching Contribution shall be contributed under the
Plan equal to the amount of matching contributions that would have been made to
the Brandywine Realty Trust 401(k) Profit Sharing Plan but for such limitations,
but only if and to the extent the Participant has deferred additional amounts of
Compensation to the Plan at least equal to the amount that would have been
required to have been deferred under the Brandywine Realty Trust 401(k) Profit
Sharing Plan in order to support such additional matching contributions in the
absence of such limitations.

                  4.4. Profit Sharing Contributions. The Company shall credit to
each Participant's Retirement Distribution Account a Profit Sharing
Contribution. Profit Sharing Contributions will be credited as frequently as
determined by the Plan Administrator.

                  4.5. Supplemental Profit Sharing Contributions. To the extent
that a Participant's compensation for purposes of the Brandywine Realty Trust
401(k) Profit Sharing Plan is reduced to an amount that is below the
Compensation Limit in any Plan Year by reason of deferrals made under this Plan
(regardless of whether, prior to reduction, it was in excess of such
limitation), a Supplemental Profit Sharing Contribution will be credited to the
Retirement Distribution Account of such Participant, at least annually, equal to
the specified profit sharing percentage for the applicable Plan Year, multiplied
by the excess, if any, of (a) the lesser of (i) the Participant's Compensation
or (ii) the Compensation Limit over (b) the amount of the Participant's
compensation that is taken into account under the Brandywine Realty Trust 401(k)
Profit Sharing Plan.

                  4.6. Additional Company Contributions.

                           (a) If, pursuant to Section 4.1 or 4.2, a Participant
elects to defer receipt of 25% of his annual bonus (if any) and deems that such
deferral be invested in the Employer Stock Fund, then, with respect to any part
of such bonus in excess of 25% that is deferred and invested in the Employer
Stock Fund ("Excess Bonus"), an Additional Company Contribution equal to a
specified percentage (15% as of the effective date of the Plan) of the Excess
Bonus shall be contributed to such Participant's Retirement Distribution Account
and deemed invested in the Employer Stock Fund.

                                       9
<PAGE>

                           (b) The Excess Bonus and associated Additional
Company Contribution shall not be subject to Participant investment direction
for two years from the date of crediting. If, prior to the expiration of two
years from the date on which the Excess Bonus and Additional Company
Contribution are credited, (1) the Participant directs that all or a portion of
the Excess Bonus or the associated Additional Company Contribution be deemed
invested in an Earnings Crediting Option other than the Employer Stock Fund or
(2) the Participant receives a distribution pursuant to Article 10 or Article
11, any portion of which consists of all or a portion of such Excess Bonus or
Additional Company Contribution, then the Participant shall forfeit all of such
Additional Company Contribution; provided, with respect to a distribution
pursuant to Article 11, that any forfeiture will take place prior to the
determination of the Article 11 forfeiture penalty.


                                    ARTICLE 5
                          DISTRIBUTION OPTION ACCOUNTS

                  5.1. Distribution Option Accounts. The Plan Administrator
shall establish and maintain separate Distribution Option Accounts with respect
to a Participant for each Distribution Option Period. A Participant's
Distribution Option Accounts shall consist of the Retirement Distribution
Account and/or one or more In-Service Distribution Accounts. The amount of
Compensation deferred pursuant to Section 4.1 or Section 4.2 shall be credited
by the Company to the Participant's Distribution Option Accounts, in accordance
with the Distribution Option irrevocably elected by the Participant in the
Enrollment Agreement, as soon as reasonably practicable following the close of
the payroll period or bonus payment date for which the deferred Compensation
would otherwise be payable, as determined by the Plan Administrator in its sole
discretion. Any amount once taken into account as Compensation for purposes of
this Plan shall not be taken into account thereafter. Matching Contributions,
Additional Company Contributions, Profit Sharing Contributions, and Supplemental
Profit Sharing Contributions, when credited, as determined by the Plan
Administrator in its sole discretion, are credited only to the Retirement
Distribution Account. The Participant's Distribution Option Accounts shall be
reduced by the amount of payments made by the Company to the Participant or the
Participant's Beneficiary pursuant to this Plan.

                  5.2. Earnings on Distribution Option Accounts.

                           (a) General. A Participant's Distribution Option
Accounts shall be credited with earnings in accordance with the Earnings
Crediting Options elected by the Participant from time to time. Participants may
allocate their Retirement Distribution Account and/or each of their In-Service
Distribution Accounts among the Earnings Crediting Options available under the
Plan only in whole percentages of not less than five percent.



                                       10
<PAGE>

                           (b) Investment Options. The deemed rate of return,
positive or negative, credited under each Earnings Crediting Option is based
upon the actual investment performance of (i) the Employer Stock Fund, (ii) the
corresponding investment portfolios of the EQ Advisers Trust, open-end
investment management companies under the Investment Company Act of 1940, as
amended from time to time, or (iii) such other investment fund(s) as the Company
may designate from time to time, and shall equal the total return of such
investment fund net of asset based charges, including, without limitation, money
management fees, fund expenses and mortality and expense risk insurance contract
charges. The Company reserves the right, on a prospective basis, to add or
delete Earnings Crediting Options.

                  5.3. Earnings Crediting Options. Notwithstanding that the
rates of return credited to Participants' Distribution Option Accounts under the
Earnings Crediting Options are based upon the actual performance of the
investment options specified in Section 5.2, or such other investment funds as
the Company may designate, the Company shall not be obligated to invest any
Compensation deferred by Participants under this Plan, Matching Contributions,
Additional Company Contributions, Profit Sharing Contributions, Supplemental
Profit Sharing Contributions, or any other amounts, in such portfolios or in any
other investment funds.

                  5.4. Changes in Earnings Crediting Options. A Participant may
change the Earnings Crediting Options to which his Distribution Option Accounts
are deemed to be allocated subject to such rules as may be determined by the
Plan Administrator, provided that except as the Plan Administrator may otherwise
determine in light of legal restrictions on changes, the frequency of permitted
changes shall not be less than four times per Plan Year. Each such change may
include (a) reallocation of the Participant's existing Accounts in whole
percentages of not less than five percent, and/or (b) change in investment
allocation of amounts to be credited to the Participant's Accounts in the
future, as the Participant may elect. The effect of a Participant's change in
Earnings Crediting Options shall be reflected in the Participant's Accounts as
soon as reasonably practicable following the Plan Administrator's receipt of
notice of such change, as determined by the Plan Administrator in its sole
discretion.

                  5.5. Valuation of Accounts. Except as otherwise provided in
Section 5.7, the value of a Participant's Distribution Option Accounts as of any
date shall equal the amounts theretofore credited to such Accounts, including
any earnings (positive or negative) deemed to be earned on such Accounts in
accordance with Section 5.2 and Section 5.4 through the day preceding such date,
less the amounts theretofore deducted from such Accounts.

                  5.6. Statement of Accounts. The Plan Administrator shall
provide to each Participant, not less frequently than quarterly, a statement in
such form as the Plan Administrator deems desirable for setting forth the
balance standing to the credit of each Participant in each of his Distribution
Option Accounts.

                  5.7. Distributions from Accounts. Any distribution made to or
on behalf of a Participant from one or more of his Distribution Option Accounts
in an amount which is less than the entire balance of any such Account shall be
made pro rata from each of the Earnings Crediting Options to which such Account
is then allocated. For purposes of any provision of the Plan relating to
distribution of benefits to Participants or Beneficiaries, the value of a
Participant's Distribution Option Accounts shall be determined as of a date as
soon as reasonably practicable preceding the distribution date, as determined by
the Plan Administrator in its sole discretion. In the case of any benefit
payable in the form of a cash lump sum, the value of a Participant's
Distribution Option Accounts, as determined pursuant to this Section 5.7, shall
be distributed. In the case of any benefit payable in the form of annual
installments, as of any payment date, the amount of each installment payment
shall be determined as the quotient of (a) the value of the Participant's
Distribution Option Account subject to distribution, as determined pursuant to
this Section 5.7, divided by (b) the number of remaining annual installments
immediately preceding the payment date.

                                       11
<PAGE>

                                    ARTICLE 6
                              DISTRIBUTION OPTIONS

                  6.1. Election of Distribution Option. In the first completed
and fully executed Enrollment Agreement filed with the Plan Administrator for
each Distribution Option Period, an Eligible Employee shall elect the time and
manner of payment pursuant to which the Eligible Employee's Distribution Option
Accounts for that Distribution Option Period will be distributed. Annually, the
Eligible Employee shall allocate his or her deferrals between the Distribution
Options in increments of ten percent.

                  6.2. Retirement Distribution Option. Subject to Section 7.1,
distribution of the Participant's Retirement Distribution Account, if any, shall
commence upon (a) the Participant's Retirement or (b) the Participant's
attainment of age 65, as elected by the Participant in the Enrollment Agreement
pursuant to which such Retirement Distribution Account was established or
otherwise as permitted under Section 7.1(a).

                  6.3. In-Service Distribution Option. Subject to Section 7.2,
the Participant's In-Service Distribution Account for any Distribution Option
Period shall be distributed commencing in the year elected by the Participant in
the Enrollment Agreement pursuant to which such In-Service Distribution Account
was established. Notwithstanding the foregoing, a Participant shall not be
entitled to allocate any deferrals to an In-Service Distribution Account for the
two Plan Years preceding the Plan Year which includes the date on which such
Account is to be distributed and such additional deferrals shall instead be
allocated to the Retirement Distribution Account.

                                    ARTICLE 7
                            BENEFITS TO PARTICIPANTS

                  7.1. Benefits Under the Retirement Distribution Option.
Benefits under the Retirement Distribution Option shall be paid to a Participant
as follows:

                           (a) Benefits Upon Retirement.

                                       12
<PAGE>

                                    (i) General. In the case of a Participant
whose Service with the Employer terminates on account of his Retirement, the
Participant's Retirement Distribution Account shall be distributed in one of the
following methods, as elected by the Participant in writing either in the
Enrollment Agreement or in a separate election made prior to the date of the
Participant's Retirement: (x) in a lump sum; (y) in annual installments over 5,
10, 15 or 20 years; or (z) by any other formula that is mathematically derived
and is acceptable to the Plan Administrator.

                                    (ii) Payment of Lump Sums. Any lump-sum
benefit payable in accordance with this paragraph shall be paid in, but not
later than January 31 of, the Plan Year following the Plan Year in which the
Participant's Retirement occurs, or, if later, attainment of age 65 as elected
by the Participant in accordance with this Section 7.1 or Section 6.2.

                                    (iii) Payment of Annual Installments. Annual
installment payments, if any, shall commence in, but not later than January 31
of, the Plan Year following the Plan Year in which the Participant's Retirement
occurs, or, if later, as soon as reasonably practicable following the
Participant's attainment of age 65, as elected by the Participant in accordance
with this Section 7.1 or Section 6.2.

                           (b) Changes in Forms of Distribution. A Participant
may change the election regarding the manner of payment of the Participant's
Retirement Distribution Account by filing a revised Enrollment Agreement by the
earlier of (i) December 31 of the calendar year preceding the calendar year in
which the Participant's distribution date falls or (ii) the date six months
before such distribution date.

                           (c) Changes in Timing of Distribution. A Participant
may change the election regarding the timing of the distribution to defer the
date on which the distribution should commence by filing a revised Enrollment
Agreement by the earlier of (i) December 31 of the calendar year preceding the
calendar year in which the Participant's distribution otherwise would have
commenced or (ii) the date six months before such previously elected
distribution commencement date.

                           (d) Benefits Upon Termination of Employment. In the
case of a Participant whose Service with the Employer terminates prior to the
earliest date on which the Participant is eligible for Retirement, other than on
account of becoming Disabled or by reason of death, the Participant's Retirement
Distribution Account shall be distributed (i) in a lump sum in, but not later
than February 28 of, the Plan Year following the Plan Year that includes the
Participant's Termination Date, (ii) beginning as soon as reasonably practicable
following the Participant's attainment of age 65, or (iii) beginning as soon as
reasonably practicable following the Participant's attainment of age 55, all as
irrevocably elected by the Participant in the Enrollment Agreement pursuant to
which such Retirement Distribution Account was established; provided, however,
that the Company may override Participant's election and cause a distribution
under clause (i) notwithstanding any other election by the Participant.

                                       13
<PAGE>

                           (e) Forfeiture. If a Participant terminates Service,
other than due to Retirement, Disability or death, prior to being credited with
five (5) years of service, as determined pursuant to the terms of the Brandywine
Realty Trust 401(k) Profit Sharing Plan, all or a portion of the Participant's
Retirement Distribution Account attributable to Matching Contributions shall be
forfeited, as follows:

              Termination Prior to
              Completion of Year                 Portion Forfeited
              ------------------                 -----------------
              1                                  100%
              2                                  80%
              3                                  60%
              4                                  40%
              5                                  20%

                  7.2. Benefits Under the In-Service Distribution Option.
Benefits under the In-Service Distribution Option shall be paid to a Participant
as follows:

                           (a) In-Service Distributions. In the case of a
Participant who continues in Service with the Employer, the Participant's
In-Service Distribution Account for any Distribution Option Period shall be paid
to the Participant commencing in, but not later than January 31 of, the Plan
Year irrevocably elected by the Participant in the Enrollment Agreement pursuant
to which such In-Service Distribution Account was established, which may be no
earlier than the third Plan Year following the end of the last Plan Year in the
Distribution Option Period in which deferrals are to be credited to the
In-Service Distribution Account for that Distribution Option Period, in one lump
sum or in annual installments payable over 2, 3, 4, or 5 years.

                                    (i) Any lump-sum benefit payable in
accordance with this paragraph shall be paid in, but not later than January 31
of, the Plan Year elected by the Participant in accordance with Section 6.3.

                                    (ii) Annual installment payments, if any,
shall commence in, not later than January 31 of, the Plan Year elected by the
Participant in accordance with Section 6.3.

                           (b) Benefits Upon Termination of Employment. In the
case of a Participant whose Service with the Employer terminates prior to the
date on which the Participant's In-Service Distribution Account would otherwise
be distributed, other than on account of becoming Disabled or by reason of
death, such In-Service Distribution Account shall be distributed (i) in a lump
sum in, but not later than February 28, of the year following the Participant's
Termination Date, (ii) in annual installments commencing on the date such
In-Service Distribution Account would otherwise have been distributed, or (iii)
in a lump sum on the date such In-Service Distribution Account would otherwise
have been distributed, all as irrevocably elected by the Participant in the
Enrollment Agreement pursuant to which such In-Service Distribution Account was
established; provided, however, that the Company may override a Participant's
election and cause a distribution under clause (i) notwithstanding any other
election by the Participant.




                                       14
<PAGE>

                                    ARTICLE 8
                                   DISABILITY

                  8.1. In the event a Participant becomes Disabled, the
Participant's right to make any further deferrals under this Plan shall
terminate as of the date the Participant terminates due to Disability. The
Participant's Distribution Option Accounts shall continue to be credited with
earnings in accordance with Section 5.2 until such Accounts are fully
distributed. For purposes of this Plan, a Disabled Participant will not be
treated as having terminated Service. The Participant's Retirement Distribution
Account, if any, shall be distributed to the Participant in accordance with
Section 7.1(a), provided, however, that distribution of the Participant's
Retirement Distribution Accounts, if any, shall commence not later than January
31 of the Plan Year immediately following the later of (a) the Plan Year in
which the Participant first becomes eligible for Retirement, or (b) the Plan
Year in which the Participant first terminated due to Disability. The
Participant's In-Service Distribution Accounts, if any, will be distributed to
the Participant in accordance with Section 7.2(a) without regard to the fact
that the Participant became Disabled.

                                    ARTICLE 9
                                SURVIVOR BENEFITS

                  9.1. Death of Participant Prior to the Commencement of
Benefits. In the event of a Participant's death prior to the commencement of
benefits in accordance with Article 7, benefits shall be paid to the
Participant's Beneficiary, as determined under Section 12.4, pursuant to Section
9.2 or 9.3, whichever is applicable, in lieu of any benefits otherwise payable
under the Plan to or on behalf of such Participant.

                  9.2. Survivor Benefits Under the Retirement Distribution
Option. In the case of a Participant with respect to whom the Company has
established a Retirement Distribution Account, and who dies prior to the
commencement of benefits under such Retirement Distribution Account pursuant to
Section 7.1, distribution of such Retirement Distribution Account shall be made
in the manner and at such time as elected by the Participant in the Enrollment
Agreement pursuant to which such Retirement Distribution Account was established
or as may have been changed by the Participant.

                  9.3. Survivor Benefits Under the In-Service Distribution
Option. In the case of a Participant with respect to whom the Company has
established one or more In-Service Distribution Accounts, and who dies prior to
the date on which such In-Service Distribution Accounts are to be paid pursuant
to Section 7.2, distribution of such In-Service Distribution Accounts shall be
made at such time and in such form as irrevocably elected by the Participant in
the Enrollment Agreement pursuant to which such In-Service Distribution Accounts
were established.

                  9.4. Death of Participant After Benefits Have Commenced. In
the event a Participant who dies after annual installment benefits payable under
Section 7.1 and/or Section 7.2 from the Participant's Retirement Distribution
Account and/or In-Service Distribution Account has commenced, but before the
entire balance of such Accounts has been paid, any remaining annual installments
shall continue to be paid to the Participant's Beneficiary, subject to Section
11.3, at such times and in such amounts as they would have been paid to the
Participant had he survived.

                                       15
<PAGE>

                                   ARTICLE 10
                                EMERGENCY BENEFIT

                  10.1. In the event that the Plan Administrator, upon written
request of a Participant, determines, in its sole discretion, that the
Participant has suffered an unforeseeable financial emergency, the Company shall
pay to the Participant from his Distribution Option Account, as soon as
practicable following such determination, an amount necessary to meet the
emergency, after deduction of any and all taxes as may be required pursuant to
Section 12.10 (the "Emergency Benefit"). For purposes of this Plan, an
unforeseeable financial emergency is an unexpected need for cash arising from an
illness, casualty loss, sudden financial reversal, or other such unforeseeable
occurrence. Cash needs arising from foreseeable events such as the purchase of a
house or education expenses for children shall not be considered to be the
result of an unforeseeable financial emergency. Emergency Benefits shall be paid
first from the Participant's In-Service Distribution Accounts, if any, to the
extent the balance of one or more of such InService Distribution Accounts is
sufficient to meet the emergency, in the order in which such Accounts would
otherwise be distributed to the Participant. If the distribution exhausts the
InService Distribution Accounts, the Retirement Distribution Account may be
accessed. With respect to that portion of any Distribution Option Account which
is distributed to a Participant as an Emergency Benefit in accordance with this
Article 10, no further benefit shall be payable to the Participant under this
Plan. Notwithstanding anything in this Plan to the contrary, a Participant who
receives an Emergency Benefit in any Plan Year shall not be entitled to make any
further deferrals for the remainder of such Plan Year. It is intended that the
Plan Administrator's determination as to whether a Participant has suffered an
"unforeseeable financial emergency" shall be made consistent with the
requirements under section 457(d) of the Code.

                                   ARTICLE 11
                            ACCELERATED DISTRIBUTION

                  11.1. Availability of Withdrawal Prior to Retirement. Upon the
Participant's written election, the Participant may elect to withdraw all or a
portion of the Participant's Distribution Option Account at any time prior to
the time such Distribution Option Account otherwise becomes payable under the
Plan, provided the conditions specified in Section 11.3, Section 11.4. and
Section 11.5 are satisfied.

                  11.2. Acceleration of Periodic Distributions. Upon the
Participant's written election, the Participant or Participant's Beneficiary who
is receiving annual installment payments under the Plan may elect to have all or
a percentage of the remaining annual installments distributed in the form of an
immediately payable lump sum, provided the condition specified in Section 11.3
is satisfied.

                                       16
<PAGE>

                  11.3. Forfeiture Penalty. In the event of a withdrawal
pursuant to Section 11.1, or an accelerated distribution pursuant to Section
11.2, the Participant shall forfeit from his Distribution Option Account from
which the withdrawal is made an amount equal to 10% of the amount of the
withdrawal or accelerated distribution, as the case may be. The forfeited amount
shall be deducted from the applicable Distribution Option Account prior to
giving effect to the withdrawal or acceleration. The Participant and the
Participant's Beneficiary shall not have any right or claim to the forfeited
amount and the Company shall have no obligation whatsoever to the Participant,
the Participant's Beneficiary or any other person with regard to the forfeited
amount.

                  11.4. Minimum Withdrawal. In no event shall the amount
withdrawn in accordance with Section 11.1 be less than 25% of the amount
credited to the Participant's Distribution Option Account immediately prior to
the withdrawal.

                  11.5. Suspension from Deferrals. In the event of a withdrawal
pursuant to Section 11.1, a Participant who is otherwise eligible to make
deferrals under Article 4 shall be prohibited from making any deferrals with
respect to the Plan Year immediately following the Plan Year during which the
withdrawal was made, and any election previously made by the Participant with
respect to deferrals for the Plan Year of the withdrawal shall be void and of no
effect with respect to subsequent deferrals for such Plan Year.

                                   ARTICLE 12
                                  MISCELLANEOUS

                  12.1. Amendment and Termination. The Plan may be amended,
suspended, discontinued or terminated at any time by the Plan Administrator;
provided, however, that no such amendment, suspension, discontinuance or
termination shall reduce or in any manner adversely affect the rights of any
Participant with respect to benefits that are payable or may become payable
under the Plan based upon the balance of the Participant's Accounts as of the
effective date of such amendment, suspension, discontinuance or termination.

                  12.2. Change of Control.

                           (a) Notwithstanding Section 12.1, in the event of a
Change of Control, Brandywine Realty Trust, or its successor, shall have the
discretion, with respect to amounts standing to the credit of Participants'
Distribution Option Accounts, to modify and/or completely override Participants'
elections regarding the timing and/or form of distribution from such
Distribution Option Accounts, including providing for a complete or partial
distribution of all amounts due such Participants in the form of immediate lump
sum payments.

                           (b) In the event of a Change of Control in which
Shares are converted into cash or equity, amounts deemed invested in the
Employer Stock Fund as of such Change of Control shall be deemed to be converted
in the same manner as Shares; provided if holders of Shares are given a choice
between forms of consideration, the amounts deemed invested in the Employer
Stock Fund as of such Change of Control shall be deemed converted into that form
of consideration chosen by the majority of the holders of Shares.

                                       17
<PAGE>

                  12.3. Claims Procedure.

                           (a) Claim. A person who believes that he is being
denied a benefit to which he is entitled under the Plan (hereinafter referred to
as a "Claimant") may file a written request for such benefit with the Plan
Administrator, setting forth the claim.

                           (b) Claim Decision. Upon receipt of a claim, the Plan
Administrator shall advise the Claimant within ninety (90) days of receipt of
the claim whether the claim is denied. If special circumstances require more
than ninety (90) days for processing, the Claimant will be notified in writing
within ninety (90) days of filing the claim that the Plan Administrator requires
up to an additional ninety (90) days to reply. The notice will explain what
special circumstances make an extension necessary and indicate the date a final
decision is expected to be made.

                  If the Claimant does not receive a written denial notice or
notice of an extension within ninety (90) days, the Claimant may consider the
claim denied and may then request a review of denial of the claim, as described
below.

                  If the claim is denied in whole or in part, the Claimant shall
be provided a written opinion, using language calculated to be understood by the
Claimant, setting forth:

                                    (i) The specific reason or reasons for such
denial;

                                    (ii) The specific reference to pertinent
provisions of this Plan on which such denial is based;

                                    (iii) A description of any additional
material or information necessary for the Claimant to perfect his claim and an
explanation why such material or such information is necessary;

                                    (iv) Appropriate information as to the steps
to be taken if the Claimant wishes to submit the claim for review; and

                                    (v) The time limits for requesting a review
under subsection (c) and for review under subsection (d) hereof.

                           (c) Request for Review. Within sixty (60) days after
the receipt by the Claimant of the written opinion described above, the Claimant
may request in writing that the Plan Administrator review its determination. The
Claimant or his duly authorized representative may, but need not, review the
pertinent documents and submit issues and comments in writing for consideration
by the Plan Administrator. If the Claimant does not request a review of the
initial determination within such sixty (60) day period, the Claimant shall be
barred and estopped from challenging the determination.

                           (d) Review of Decision. Within sixty (60) days after
the Plan Administrator's receipt of a request for review, it will review the
initial determination. After considering all materials presented by the
Claimant, the Plan Administrator will render a written opinion, written in a
manner calculated to be understood by the Claimant, setting forth the specific
reasons for the decision and containing specific references to the pertinent
provisions of this Agreement on which the decision is based. If special
circumstances require that the sixty (60) day time period be extended, the Plan
Administrator will so notify the Claimant and will render the decision as soon
as possible, but no later than one hundred twenty (120) days after receipt of
the request for review.

                                       18
<PAGE>

                  12.4. Designation of Benefit. Each Participant may designate a
Beneficiary or Beneficiaries (which Beneficiary may be an entity other than a
natural person) to receive any payments which may be made following the
Participant's death. Such designation may be changed or canceled at any time
without the consent of any such Beneficiary. Any such designation, change or
cancellation must be made in a form approved by the Plan Administrator and shall
not be effective until received by the Plan Administrator, or its designee. If
no Beneficiary has been named, or the designated Beneficiary or Beneficiaries
shall have predeceased the Participant, the Beneficiary shall be the
Participant's estate. If a Participant designates more than one Beneficiary, the
interests of such Beneficiaries shall be paid in equal shares, unless the
Participant has specifically designated otherwise.

                  12.5. Limitation of Participant's Right. Nothing in this Plan
shall be construed as conferring upon any Participant any right to continue in
the employment of the Company, nor shall it interfere with the rights of the
Company to terminate the employment of any Participant and/or to take any
personnel action affecting any Participant without regard to the effect which
such action may have upon such Participant as a recipient or prospective
recipient of benefits under the Plan. Any amounts payable hereunder shall not be
deemed salary or other compensation to a Participant for the purposes of
computing benefits to which the Participant may be entitled under any other
arrangement established by the Employer for the benefit of its employees.

                  12.6. No Limitation on Company Actions. Nothing contained in
the Plan shall be construed to prevent the Company from taking any action which
is deemed by it to be appropriate or in its best interest. No Participant,
Beneficiary, or other person shall have any claim against the Company as a
result of such action.

                  12.7. Obligations to Company. If a Participant becomes
entitled to a distribution of benefits under the Plan, and if at such time the
Participant has outstanding any debt, obligation, or other liability
representing an amount owing to the Employer, then the Employer may offset such
amount owed to it against the amount of benefits otherwise distributable. Such
determination shall be made by the Plan Administrator.

                  12.8. Nonalienation of Benefits. Except as expressly provided
herein, no Participant or Beneficiary shall have the power or right to transfer
(otherwise than by will or the laws of descent and distribution), alienate, or
otherwise encumber the Participant's or Beneficiary's interest under the Plan.
The Company's obligations under this Plan are not assignable or transferable,
except to (a) any corporation or partnership which acquires all or substantially
all of the Company's assets or (b) any corporation or partnership into which the
Company may be merged or consolidated. A Participant's or Beneficiary's interest
under the Plan is not assignable or transferable pursuant to a domestic
relations order. The provisions of the Plan shall inure to the benefit of each
Participant and the Participant's Beneficiaries, heirs, executors,
administrators or successors in interest.

                                       19
<PAGE>

                  12.9. Protective Provisions. Each Participant shall cooperate
with the Company by furnishing any and all information requested by the Company
in order to facilitate the payment of benefits hereunder, taking such physical
examinations as the Company may deem necessary and taking such other relevant
action as may be requested by the Company. If a Participant refuses to
cooperate, the Company shall have no further obligation to the Participant under
the Plan, other than payment to such Participant of the then current balance of
the Participant's Distribution Option Accounts in accordance with his prior
elections.

                  12.10. Taxes. The Company may make such provisions and take
such action as it may deem appropriate for the withholding of any taxes which
the Company is required by any law or regulation of any governmental authority,
whether Federal, state or local, to withhold in connection with any benefits
under the Plan, including, but not limited to, the withholding of appropriate
sums from any amount otherwise payable to the Participant (or his Beneficiary).
Each Participant, however, shall be responsible for the payment of all
individual tax liabilities relating to any such benefits.

                  12.11. Unfunded Status of Plan. The Plan is an "unfunded" plan
for tax and Employee Retirement Income Security Act purposes. This means that
the value of a Participant's Distribution Option Accounts is based on the value
assigned to a hypothetical bookkeeping account, which is invested in
hypothetical shares of investments funds available under the Plan. As the nature
of the investment fund which forms the "index" or "meter" for the valuation of
the bookkeeping account changes, the valuation of the bookkeeping account
changes as well. The amount owed to a Participant is based on the value assigned
to the bookkeeping account. Brandywine Realty Trust may decide to use a "rabbi
trust" to anticipate its potential Plan liabilities, and it may attempt to have
Plan investments mirror the hypothetical investments deemed credited to the
bookkeeping accounts. However, the liability to pay the benefits is Brandywine
Realty Trusts's, and the assets of the rabbi trust are potentially available to
satisfy the claims of non-participant creditors of Brandywine Realty Trust.

                  12.12. Severability. If any provision of this Plan is held
unenforceable, the remainder of the Plan shall continue in full force and effect
without regard to such unenforceable provision and shall be applied as though
the unenforceable provision were not contained in the Plan.

                  12.13. Governing Law. The Plan shall be construed in
accordance with and governed by the laws of the Commonwealth of Pennsylvania,
without reference to the principles of conflict of laws.

                  12.14. Headings. Headings are inserted in this Plan for
convenience of reference only and are to be ignored in the construction of the
provisions of the Plan.


                                       20
<PAGE>


                  12.15. Gender, Singular and Plural. All pronouns and any
variations thereof shall be deemed to refer to the masculine, feminine, or
neuter, as the identity of the person or persons may require. As the context may
require, the singular may read as the plural and the plural as the singular.

                  12.16. Notice. Any notice or filing required or permitted to
be given to the Plan Administrator under the Plan shall be sufficient if in
writing and hand delivered, or sent by registered or certified mail, to
Brandywine Realty Trust, 14 Campus Boulevard, Newtown Square, Pennsylvania,
19073, Attention: Chief Accounting Officer, or to such other entity as the Plan
Administrator may designate from time to time. Such notice shall be deemed given
as to the date of delivery, or, if delivery is made by mail, as of the date
shown on the postmark on the receipt for registration or certification.



                                       21
<PAGE>


                                   APPENDIX A


Participating Companies as of October 1, 2000:

Brandywine Realty Services Corporation



                                       22

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>8
<FILENAME>ex10-77.txt
<DESCRIPTION>EX10-77.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Gerard H. Sweeney ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Employment
Agreement or the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Employment Agreement" means the Amended and Restated
Employment Agreement between Grantee and the Company, dated as of May 7, 2002,
or any subsequent employment agreement between Grantee and the Company as in
effect at the time of determination.

                  (k) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (l) "Resignation for Good Reason" means "Resignation for Good
Reason" as defined in the Employment Agreement.


<PAGE>

                  (m) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (n) "Restricted Shares" means the 40,830 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.

                  (o) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (p) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (q) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (r) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares except to a limited partnership in which
Grantee is the sole general partner and which limited partnership agrees to hold
such Restricted Shares subject to all of the restrictions contained herein,
including the forfeiture provisions. Share certificates evidencing Restricted
Shares shall be held in custody by the Company until the restrictions thereon
have lapsed. Concurrently herewith, Grantee shall deliver to the Company a share
power, endorsed in blank, relating to the Restricted Shares covered by the
Award. During the Restricted Period, share certificates evidencing Restricted
Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.



                                       2
<PAGE>

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of any of the following
events, and the Restricted Shares, to the extent not previously vested, shall
thereupon vest in full:

                           (i)      A Change of Control, provided that (A) as of
                                    the date of the Change of Control, Grantee
                                    is, and has from the Date of Grant
                                    continuously been, an employee of the
                                    Company or a Subsidiary or (B) Grantee's
                                    termination of employment before the date of
                                    the Change of Control occurred because of
                                    Grantee's death or Disability;

                           (ii)     The purchase of any common share of
                                    beneficial interest of the Company pursuant
                                    to a tender or exchange offer other than an
                                    offer by the Company, provided that (A) as
                                    of the date of such purchase, Grantee is,
                                    and has from the Date of Grant, continuously
                                    been, an employee of Company or a Subsidiary
                                    or (B) Grantee's termination of employment
                                    before the date of such purchase occurred
                                    because of Grantee's death or Disability;

                                       3
<PAGE>

                           (iii)    Termination of the Grantee's employment by
                                    the Employer without Cause; or

                           (iv)     The Grantee's resignation from the Employer
                                    if such resignation is a Resignation for
                                    Good Reason.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than as described in
Paragraph 4(c)(iii) or (iv) Grantee shall forfeit any such Restricted Share
which has not vested as of such termination of employment, provided that Grantee
shall not, on account of such termination, forfeit Restricted Shares which have
not vested as of Grantee's termination of employment with the Employer because
of death or Disability. Upon a forfeiture of the Restricted Shares as provided
in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.

         7. Notices. Any notice to the Company under this Award shall be made
to:

                          Brandywine Realty Trust
                          401 Plymouth Road
                          Suite 500
                          Plymouth Meeting, PA 19462
                          Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

                                       4
<PAGE>

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                    (a) The address for Grantee to which notice, demands and
other communications are to be given or delivered under or by reason of the
provisions hereof shall be the Grantee's address as reflected in the Company's
personnel records.

                    (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                                        BRANDYWINE REALTY TRUST



                                        BY:
                                            -----------------------------------

                                        TITLE:
                                               --------------------------------


                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>9
<FILENAME>ex10-78.txt
<DESCRIPTION>EX10-78.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Anthony S. Rimikis ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 6,973 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.

                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                                 Brandywine Realty Trust
                                 401 Plymouth Road
                                 Suite 500
                                 Plymouth Meeting, PA 19462
                                 Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

                                       4
<PAGE>

         11. Miscellaneous.

                   (a) The address for Grantee to which notice, demands and
other communications are to be given or delivered under or by reason of the
provisions hereof shall be the Grantee's address as reflected in the Company's
personnel records.

                   (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                                 BRANDYWINE REALTY TRUST



                                 BY:
                                     -----------------------------------------

                                 TITLE:  President and Chief Executive Officer


                                       5


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>10
<FILENAME>ex10-79.txt
<DESCRIPTION>EX10-79.TXT
<TEXT>
<PAGE>



                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Barbara L. Yamarick ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 4,649 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>
                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.



                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.



                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                                  Brandywine Realty Trust
                                  401 Plymouth Road
                                  Suite 500
                                  Plymouth Meeting, PA 19462
                                  Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.

                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                                BRANDYWINE REALTY TRUST



                                BY:
                                    ----------------------------------------
                                TITLE:  President and Chief Executive Officer


                                       5


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>11
<FILENAME>ex10-80.txt
<DESCRIPTION>EX10-80.TXT
<TEXT>
<PAGE>

                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Anthony A. Nichols, Jr. ("Grantee"). Terms used herein as defined terms and
not defined herein have the meanings assigned to them in the Brandywine Realty
Trust 1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 4,649 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.



                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                                Brandywine Realty Trust
                                401 Plymouth Road
                                Suite 500
                                Plymouth Meeting, PA 19462
                                Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.



                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                                BRANDYWINE REALTY TRUST



                                BY:
                                    ----------------------------------------

                                TITLE:  President and Chief Executive Officer

                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>12
<FILENAME>ex10-81.txt
<DESCRIPTION>EX10-81.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Jeffrey H. DeVuono ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 5,026 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.



                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                              Brandywine Realty Trust
                              401 Plymouth Road
                              Suite 500
                              Plymouth Meeting, PA 19462
                              Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.

                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                               BRANDYWINE REALTY TRUST



                               BY:
                                   ----------------------------------------

                               TITLE:  President and Chief Executive Officer




                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>13
<FILENAME>ex10-82.txt
<DESCRIPTION>EX10-82.TXT
<TEXT>
<PAGE>




                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to George Sowa ("Grantee"). Terms used herein as defined terms and not defined
herein have the meanings assigned to them in the Brandywine Realty Trust 1997
Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 5,026 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.


                                       2


<PAGE>

                 (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.

                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                                            Brandywine Realty Trust
                                            401 Plymouth Road
                                            Suite 500
                                            Plymouth Meeting, PA 19462
                                            Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.


                                       4

<PAGE>

         11. Miscellaneous.

                   (a) The address for Grantee to which notice, demands and
other communications are to be given or delivered under or by reason of the
provisions hereof shall be the Grantee's address as reflected in the Company's
personnel records.

                   (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                              BRANDYWINE REALTY TRUST



                              BY:
                                  -----------------------------------------

                              TITLE:  President and Chief Executive Officer





                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>14
<FILENAME>ex10-83.txt
<DESCRIPTION>EX10-83.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Bradley W. Harris ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 2,639 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.

                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                                  Brandywine Realty Trust
                                  401 Plymouth Road
                                  Suite 500
                                  Plymouth Meeting, PA 19462
                                  Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
         and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.

                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                             BRANDYWINE REALTY TRUST



                             BY:
                                 -----------------------------------------
                             TITLE:  President and Chief Executive Officer





                                       5


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>15
<FILENAME>ex10-84.txt
<DESCRIPTION>EX10-84.TXT
<TEXT>
<PAGE>
                            BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD
                             ----------------------

         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Brad A. Molotsky ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 7,538 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.


<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.

                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.

                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                            Brandywine Realty Trust
                            401 Plymouth Road
                            Suite 500
                            Plymouth Meeting, PA 19462
                            Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.


                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                              BRANDYWINE REALTY TRUST



                              BY:
                                  ----------------------------------------

                              TITLE:  President and Chief Executive Officer





                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>16
<FILENAME>ex10-85.txt
<DESCRIPTION>EX10-85.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                             RESTRICTED SHARE AWARD


         This is a Restricted Share Award dated as of February 27, 2003, from
Brandywine Realty Trust, a Maryland real estate investment trust (the "Company")
to Christopher P. Marr ("Grantee"). Terms used herein as defined terms and not
defined herein have the meanings assigned to them in the Brandywine Realty Trust
1997 Long-Term Incentive Plan, as amended from time to time (the "Plan").

         1. Definitions. As used herein:

                  (a) "Award" means the award of Restricted Shares hereby
granted.

                  (b) "Board" means the Board of Trustees of the Company, as
constituted from time to time.

                  (c) "Cause" means "Cause" as defined in the Plan.

                  (d) "Change of Control" means "Change of Control" as defined
in the Plan.

                  (e) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto.

                  (f) "Committee" means the Committee appointed by the Board in
accordance with Section 2 of the Plan, if one is appointed and in existence at
the time of reference. If no Committee has been appointed pursuant to Section 2,
or if such a Committee is not in existence at the time of reference, "Committee"
means the Board.

                  (g) "Date of Grant" means February 27, 2003 the date on which
the Company awarded the Restricted Shares.

                  (h) "Disability" means "Disability" as defined in the Plan.

                  (i) "Employer" means the Company or the Subsidiary for which
Grantee is performing services on the applicable Vesting Date.

                  (j) "Fair Market Value" means "Fair Market Value" as defined
in the Plan.

                  (k) "Restricted Period" means, with respect to each Restricted
Share, the period beginning on the Date of Grant and ending on the applicable
Vesting Date for such Restricted Share.

                  (l) "Restricted Shares" means the 10,365 Shares which are
subject to vesting and forfeiture in accordance with the terms of this Award.



<PAGE>

                  (m) "Rule 16b-3" means Rule 16b-3 promulgated under the 1934
Act, as in effect from time to time.

                  (n) "Share" means a common share of beneficial interest, $.01
par value per share, of the Company, subject to substitution or adjustment as
provided in Section 3(c) of the Plan.

                  (o) "Subsidiary" means, with respect to the Company, a
subsidiary company, whether now or hereafter existing, as defined in section
424(f) of the Code, and any other entity 50% or more of the economic interests
in which are owned, directly or indirectly, by the Company.

                  (p) "Vesting Date" means the date on which the restrictions
imposed under Paragraph 3 on a Restricted Share lapse, as provided in Paragraph
4.

         2. Grant of Restricted Shares. Subject to the terms and conditions set
forth herein and in the Plan, the Company hereby grants to Grantee the
Restricted Shares. Grantee shall pay to the Company $.01 per Restricted Share
granted to him.

         3. Restrictions on Restricted Share. Subject to the terms and
conditions set forth herein and in the Plan, prior to the Vesting Date in
respect of Restricted Shares, Grantee shall not be permitted to sell, transfer,
pledge or assign such Restricted Shares. Share certificates evidencing
Restricted Shares shall be held in custody by the Company until the restrictions
thereon have lapsed. Concurrently herewith, Grantee shall deliver to the Company
a share power, endorsed in blank, relating to the Restricted Shares covered by
the Award. During the Restricted Period, share certificates evidencing
Restricted Shares shall bear a legend in substantially the following form:

                  THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES
                  REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS
                  (INCLUDING FORFEITURE) OF THE BRANDYWINE REALTY TRUST 1997
                  LONG-TERM INCENTIVE PLAN, AS AMENDED, AND AN AGREEMENT ENTERED
                  INTO BETWEEN THE REGISTERED OWNER AND BRANDYWINE REALTY TRUST.
                  COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE PRINCIPAL
                  OFFICES OF BRANDYWINE REALTY TRUST AND WILL BE MADE AVAILABLE
                  TO ANY SHAREHOLDER WITHOUT CHARGE UPON REQUEST TO THE
                  SECRETARY OF THE COMPANY.

         4. Lapse of Restrictions for Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein and
in the Plan, the restrictions set forth in Paragraph 3 on each Restricted Share
that has not been forfeited as provided in Paragraph 5 shall lapse on the
applicable Vesting Date in respect of such Restricted Share, provided that
either (i) on the Vesting Date, Grantee is, and has from the Date of Grant
continuously been, an employee of the Company or a Subsidiary during the
Restricted Period, or (ii) Grantee's termination of employment before the
Vesting Date occurred because of Grantee's death or Disability.



                                       2
<PAGE>

                  (b) Subject to Paragraph 4(a), a Vesting Date for Restricted
Shares subject to the Award shall occur in accordance with the following
schedule:

                           (i)      One-fifth of the Restricted Shares will vest
                                    on January 1, 2004;

                           (ii)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2005;

                           (iii)    An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2006;

                           (iv)     An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2007; and

                           (v)      An additional one-fifth of the Restricted
                                    Shares will vest on January 1, 2008.

                  (c) Notwithstanding Paragraph 4(b), a Vesting Date for all
Restricted Shares shall occur upon the occurrence of a Change of Control, and
the Restricted Shares, to the extent not previously vested, shall thereupon vest
in full, provided that (i) as of the date of the Change of Control, Grantee is,
and has from the Date of Grant continuously been, an employee of the Company or
a Subsidiary or (ii) Grantee's termination of employment before the date of the
Change of Control occurred because of Grantee's death or Disability.

         5. Forfeiture of Restricted Shares.

                  (a) Subject to the terms and conditions set forth herein, if
Grantee terminates employment with the Company and all Subsidiaries prior to the
Vesting Date for a Restricted Share for reasons other than death or Disability,
Grantee shall forfeit any such Restricted Share which has not vested as of such
termination of employment. Grantee shall not forfeit Restricted Shares which
have not vested as of Grantee's termination of employment with the Employer
because of death or Disability. Upon a forfeiture of the Restricted Shares as
provided in this Paragraph 5, the Restricted Shares shall be deemed canceled.

                  (b) The provisions of this Paragraph 5 shall not apply to
Restricted Shares as to which the restrictions of Paragraph 3 have lapsed.

         6. Rights of Grantee. During the Restricted Period, with respect to the
Restricted Shares, Grantee shall have all of the rights of a shareholder of the
Company, including the right to vote the Restricted Shares and the right to
receive any distributions or dividends payable on Shares.



                                       3
<PAGE>

         7. Notices. Any notice to the Company under this Award shall be made
to:

                              Brandywine Realty Trust
                              401 Plymouth Road
                              Suite 500
                              Plymouth Meeting, PA 19462
                              Attention:  Chief Financial Officer

or such other address as may be provided to Grantee by written notice. Any
notice to Grantee under this Award shall be made to Grantee at the address
listed in the Company's personnel files. All notices under this Award shall be
deemed to have been given when hand-delivered, telecopied or delivered by first
class mail, postage prepaid, and shall be irrevocable once given.

         8. Securities Laws. The Committee may from time to time impose any
conditions on the Restricted Shares as it deems necessary or advisable to ensure
that the Plan satisfies the conditions of Rule 16b-3, and that Shares are issued
and resold in compliance with the Securities Act of 1933, as amended.

         9. Delivery of Shares. Upon a Vesting Date, the Company shall notify
Grantee (or Grantee's legal representatives, estate or heirs, in the event of
Grantee's death before a Vesting Date) that the restrictions on the Restricted
Shares have lapsed. Within ten (10) business days of a Vesting Date, the Company
shall, without payment from Grantee for the Restricted Shares, deliver to
Grantee a certificate for the Restricted Shares without any legend or
restrictions, except for such restrictions as may be imposed by the Committee,
in its sole judgment, under Paragraph 8, provided that no certificates for
Shares will be delivered to Grantee until appropriate arrangements have been
made with Employer for the withholding of any taxes which may be due with
respect to such Shares. The Company is authorized to withhold from any cash
remuneration then or thereafter payable to Grantee an amount sufficient to cover
required tax withholdings and is further authorized to cancel a number of Shares
for which the restrictions have lapsed having an aggregate Fair Market Value
equal to the required tax withholdings. The Company may condition delivery of
certificates for Shares upon the prior receipt from Grantee of any undertakings
which it may determine are required to assure that the certificates are being
issued in compliance with federal and state securities laws. The right to
payment of any fractional Shares shall be satisfied in cash, measured by the
product of the fractional amount times the fair market value of a Share on the
Vesting Date, as determined by the Committee.

         10. Award Not to Affect Employment. The Award granted hereunder shall
not confer upon Grantee any right to continue in the employment of the Company
or any Subsidiary.

         11. Miscellaneous.

                  (a) The address for Grantee to which notice, demands and other
communications are to be given or delivered under or by reason of the provisions
hereof shall be the Grantee's address as reflected in the Company's personnel
records.

                                       4
<PAGE>

                  (b) This Award and all questions relating to its validity,
interpretation, performance and enforcement shall be governed by and construed
in accordance with the laws of Pennsylvania.

                                BRANDYWINE REALTY TRUST



                                BY:
                                     ------------------------------------------

                                TITLE:  President and Chief Executive Officer





                                       5

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-14
<SEQUENCE>17
<FILENAME>ex14-1.txt
<DESCRIPTION>EX14-1.TXT
<TEXT>
<PAGE>


                             BRANDYWINE REALTY TRUST
                       CODE OF BUSINESS CONDUCT AND ETHICS

Introduction

                  This Code of Business Conduct and Ethics covers a wide range
of business practices and procedures. It does not cover every issue that may
arise, but it sets out basic principles to guide employees, officers and
trustees of the Company. All of our employees, officers and trustees must
conduct themselves accordingly and seek to avoid even the appearance of improper
behavior.

                  If a law conflicts with a policy in this Code, you must comply
with the law; however, if a local custom or policy conflicts with this Code, you
must comply with the Code. If you have any questions about these conflicts, you
should ask your supervisor how to handle the situation.

                  Those who violate the standards in this Code will be subject
to disciplinary action which may include immediate termination. If you are in a
situation which you believe may violate or lead to a violation of this Code,
follow the procedures described in Sections 14-16 of this Code.

1.       Compliance with Laws

                  Obeying the law, both in letter and in spirit, is the
foundation on which this Company's ethical standards are built. All employees,
officers and trustees must obey the laws of the United States and the cities and
states in which we operate. Although not all employees are expected to know the
details of these laws, it is important to know enough to determine when to seek
advice from supervisors.

2.       Ethical Conduct

                  Beyond compliance with laws, the Company requires that all its
employees, officers, and trustees act in a manner which meets the highest
standards of ethical behavior. The honesty and integrity of our business conduct
must not be compromised. The Company will not condone ethical violations for the
sake of personal gain, personal advantage, expediency, or perceived business
advantage.

3.       Accounting and Auditing Matters

                  The Company's requirement that employees, officers, and
trustees follow the highest ethical standards applies directly to all actions
which involve business accounting, financial reporting, internal accounting
controls, auditing matters, and public disclosure obligations.

                  The Audit Committee of the Company has adopted special
procedures for the receipt, retention, and treatment of complaints regarding
accounting, internal accounting controls, or auditing matters. These procedures
are set out in Sections 15 and 16 of this Code.


<PAGE>

4.       Conflicts of Interest

                  A "conflict of interest" exists when a person's private
interest may or does interfere with the interests of the Company. A conflict can
arise when an employee, officer or trustee takes actions or has interests that
may make it difficult to perform his or her Company work objectively and
effectively. Conflicts of interest may also arise when an employee, officer or
trustee, or member of his or her family, receives improper personal benefits as
a result of his or her position with the Company.

                  It is almost always a conflict of interest for a Company
employee to work simultaneously for a competitor, customer or supplier.
Employees are not allowed to work for a competitor as a consultant or board
member. The best policy is to avoid any direct or indirect business connection
with our competitors, customers or suppliers, except on our behalf. Conflicts of
interest are prohibited as a matter of Company policy, except in circumstances
approved by the Board of Trustees or the Audit Committee of the Board.

                  Conflicts of interest may not always be clear-cut, so if you
have a question, you should consult with higher levels of management or the
Company's General Counsel. Any employee, officer or trustee who becomes aware of
a conflict or potential conflict should bring it to the attention of a
supervisor or follow the procedures described in Section 13 of this Code.

                  Employees, officers and trustees owe a duty to the Company to
advance its legitimate interests when the opportunity to do so arises. In
particular:

                  o No payments, loans, employment or promises of employment,
investment opportunities, vacation trips, gifts or entertainment (other than
entertainment conforming to generally accepted business practices or gifts of
nominal value not reasonably calculated to influence a decision) may be offered
to or accepted by any employee, officer or trustee or a relative of such a
person as a condition of the initial or continued engagement of a consultant,
broker, vendor or third party working for the Company.

                  o No payments (other than fees for services), loans,
employment or promises of employment, investment opportunities, vacation trips,
gifts or entertainment (other than entertainment conforming to generally
accepted business practices or gifts of nominal value not reasonably calculated
to influence a decision) may be offered to or accepted by any consultant,
broker, vendor, government official or a relative of such third party in
connection with any services being performed for the Company.

                  o No employee, officer or trustee may recommend any third
party for work for the Company on a project or development of the Company where
the third party's compensation is paid on the basis of any kickback or fee
sharing arrangement with the employee, officer or trustee, nor may an employee,
officer or trustee recommend any third party without full disclosure and written
approval by the President and Chief Executive Officer or Senior Vice President,
if such third party has any familial or pre-existing monetary relationship with
the employee, officer or trustee or if such employee, officer or trustee has an
equity or stock ownership position in such third party.

                                       2
<PAGE>

                  o No employee shall, in his capacity as an employee, make any
loan, donation, contribution or payment to a political party, candidate, or
political action committee, for or on behalf of the Company or any project or
development in which the Company is engaged, nor shall an employee of the
Company reimburse any individual who does. (Nothing contained in this tenet
shall prohibit an employee from taking any of the above actions in his or her
name, provided that the action is exclusively on the employee's own accord and
is not an indirect means of accomplishing one of the prohibited actions).

                  o No employee shall use or appropriate materials, property,
equipment, systems and procedures (if proprietary in nature) owned by the
Company for his or her own personal financial gain except to the extent
necessary for the performance of his or her duties for the Company.

                  In short, the purpose of business entertainment and gifts in a
commercial setting is to create good will and sound working relationships, not
to gain unfair advantage with customers. No gift or entertainment should be
offered, given, provided or accepted by any Company employee, family member of
an employee unless it: (1) is not a cash gift, (2) is consistent with customary
business practices, (3) is not excessive in value, (4) cannot be construed as a
bribe and is not reasonably calculated to influence a decision and (5) does not
violate any laws or regulations. Please discuss with your supervisor any gifts
or proposed gifts which you are not certain are appropriate.

                  o No employee shall purchase or obtain any goods or services
from any of the Company's vendors or suppliers without the prior written
approval of the President of the Company.

5.       Insider Trading

                  Employees, officers and trustees who have access to
confidential information are not permitted to use or share that information for
stock trading purposes or for any other purpose except the conduct of our
business and in strict conformance with all applicable laws and SEC regulations.
All non-public information about the Company should be considered confidential
information. To use non-public information for personal financial benefit or to
"tip" others who might make an investment decision on the basis of this
information is not only unethical but also illegal. The Company's policy on
insider trading is set forth more fully in the "Policy Statement on Dealing with
Company Information, Including Inside Information and Securities Insider
Trading" furnished to all employees, officers and trustees. If you have any
questions, please consult the Company's General Counsel.

6.       Competition and Fair Dealing

                  We seek to outperform our competition fairly and honestly. We
seek competitive advantages through superior performance, never through
unethical or illegal business practices. Stealing proprietary information,
possessing trade secret information that was obtained without the owner's
consent, or inducing such disclosures by past or present employees of other
companies is prohibited. Each employee should endeavor to respect the rights of
and deal fairly with the Company's customers, suppliers, competitors and
employees. No employee should take unfair advantage of anyone through
manipulation, concealment, abuse of privileged information, misrepresentation of
material facts, or any other intentional unfair-dealing practice.



                                       3
<PAGE>

7.       Discrimination, Harassment and Retaliation

                  The diversity of the Company's employees is a tremendous
asset. We are firmly committed to providing equal opportunity in all aspects of
employment and will not tolerate discrimination, harassment or retaliation. The
Company's policy against discrimination applies to any legally protected status
including race, color, gender, religion, national origin, disability, veteran
status, and age. This policy also prohibits discrimination against any person
who provides information to a federal regulatory or law enforcement agency, a
member of Congress or any committee of Congress, or to a supervisor concerning
conduct which the employee reasonably believes constitutes a violation of
securities laws or any provision of federal law relating to fraud against
shareholders. The Company also prohibits discriminatory harassment of any
employee covered by the policy against discrimination.

                  No employee, officer or trustee may retaliate against an
individual for bringing a complaint of discrimination or for participating in an
investigation or proceeding involving a complaint of discrimination.

                  No one may take any action harmful to any person for providing
to a law enforcement officer any truthful information relating to the commission
or possible commission of any federal offense.

8.       Health and Safety

                  The Company strives to provide each employee with a safe and
healthful work environment. Each employee has responsibility for maintaining a
safe and healthy workplace for all employees by following safety and health
rules and practices and reporting accidents, injuries and unsafe conditions.

                  Violence and threatening behavior are not permitted. Employees
should report to work in condition to perform their duties, free from the
influence of illegal drugs or alcohol. The use of illegal drugs in the workplace
will not be tolerated.

9.       Record-Keeping

                  The Company requires honest and accurate recording and
reporting of information in order to make responsible business decisions. For
example, only the true and actual number of hours worked should be reported.

                  Many employees regularly use business expense accounts, which
must be documented and recorded accurately. If you are not sure whether a
certain expense is legitimate, ask your supervisor or your controller.

                  All of the Company's books, records, accounts and financial
statements must be maintained in reasonable detail, must appropriately reflect
the Company's transactions and must conform both to applicable legal
requirements and to the Company's system of internal controls.

                                       4
<PAGE>

                  Business records and communications often become public, and
we should avoid exaggeration, derogatory remarks, guesswork, or inappropriate
characterizations of people and companies that can be misunderstood. This
applies equally to e-mail, internal memos, and formal reports. Records should
always be retained or destroyed according to the Company's record retention
policies. In accordance with those policies, in the event of litigation or
governmental investigation please consult the Company's General Counsel.

10.      Confidentiality

                  Employees must maintain the confidentiality of the information
entrusted to them by the Company or its customers, except when disclosure is
authorized by the President and Chief Executive Officer, a Senior Vice
President, the Company's General Counsel, or required by law. Confidential
information includes all non-public information that might be of use to
competitors, or harmful to the Company or its customers, if disclosed. It also
includes information that suppliers and customers have entrusted to us. The
obligation to preserve confidential information continues even after employment
ends.

11.      Protection and Proper Use of Company Assets

                  All employees should endeavor to protect the Company's assets
and ensure their efficient use. Theft, carelessness and waste have a direct
impact on the Company's profitability. Any suspected incident of fraud or theft
should be immediately reported for investigation.

                  The obligation of employees to protect the Company's assets
includes the Company's proprietary information. Proprietary information includes
business, marketing and service plans, records, salary information and any
unpublished financial data and reports. Unauthorized use or distribution of this
information would violate Company policy. It could also be illegal and result in
civil or even criminal penalties.

12.      Payments to Government Personnel

                  The U.S. Foreign Corrupt Practices Act prohibits giving
anything of value, directly or indirectly, to officials of foreign governments
or foreign political candidates in order to obtain or retain business. It is
strictly prohibited to make illegal payments to government officials of any
country. In addition, the U.S. government has a number of laws and regulations
regarding business gratuities which may be accepted by U.S. government
personnel. The promise, offer or delivery to an official or employee of the U.S.
government of a gift, favor or other gratuity in violation of these rules would
not only violate Company policy but could also be a criminal offense. State and
local governments, as well as foreign governments, may have similar rules. The
Company's General Counsel can provide guidance to you in this area.

13.      Waivers of the Code of Business Conduct and Ethics

                  Any waiver of this Code for executive officers or trustees may
be made only by the Board or the Audit Committee and will be promptly disclosed
as required by law or stock exchange regulation.

                                       5
<PAGE>

14.      Personal Responsibility

                  We must all work to ensure prompt and consistent action
against violations of this Code. However, in some situations it is difficult to
know right from wrong. Since we cannot anticipate every situation that will
arise, it is important that we have a way to approach a new question or problem.
These are the steps to keep in mind:

         o  Make sure you have all the facts. In order to reach the right
            solutions, we must be as fully informed as possible.

         o  Ask yourself: What specifically am I being asked to do? Does it seem
            unethical or improper? This will enable you to focus on the specific
            question you are faced with, and the alternatives you have. Use your
            judgment and common sense; if something seems unethical or improper,
            it probably is.

         o  Clarify your responsibility and role. In most situations, there is
            shared responsibility. Are your colleagues informed? It may help to
            get others involved and discuss the problem.

         o  Discuss the problem with your supervisor. This is the basic guidance
            for all situations. In many cases, your supervisor will be more
            knowledgeable about the question, and will appreciate being brought
            into the decision-making process. Remember that it is your
            supervisor's responsibility to help solve problems.

         o  Seek help from Company resources. In the rare case where it may not
            be appropriate to discuss an issue with your supervisor, or where
            you do not feel comfortable approaching your supervisor with your
            question, discuss it locally with your office manager or with the
            Director of Human Resources. If that also is not appropriate, call
            our General Counsel.

         o  You may report ethical violations in confidence and without fear of
            retaliation. If your situation requires that your identity be kept
            secret, your anonymity will be protected. The Company does not
            permit retaliation of any kind against employees for good faith
            reports of ethical violations.

         o  Always ask first, act later: If you are unsure of what to do in any
            situation, seek guidance before you act.

15.      Reporting/Investigation Procedures

                  Any employee who reasonably believes that there has been a
material violation of this Code of Conduct should report it immediately to the
Company's General Counsel. The General Counsel (or his/her designee) will
promptly investigate the matter. The investigation will be handled discreetly
and appropriately, and the information will be disclosed to others only on a
need to know basis and as required by law. There will be no adverse action taken
against employees who report violations of the Code of Conduct or who
participate in the investigation. If the investigation leads to a conclusion
that a material violation of the Code of Conduct has occurred, the Company will
take appropriate corrective action which may include removal from a position as
trustee or officer, and dismissal as an employee of the Company.



                                       6
<PAGE>

                  The Company recognizes the potentially serious impact of a
false accusation. Employees are expected as part of the ethical standards
required by this Code of Conduct to act responsibly in making complaints. Making
a complaint without a good faith basis is itself an ethical violation. Any
employee who makes a complaint in bad faith will be subject to appropriate
corrective action including dismissal.

16. Special Procedures for Reporting/Investigating Complaints Regarding
Accounting, Internal Accounting Controls, and Auditing Matters

                  Any employee who reasonably believes that there has been a
material violation of this Code of Conduct caused by questionable accounting or
auditing matters has the right to submit a confidential, anonymous complaint to
the Company General Counsel. The complaint should be made in written form and
provide sufficient information so that a reasonable investigation can be
conducted. The complaint should be addressed to the General Counsel of
Brandywine Realty Trust.





                                       7

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>18
<FILENAME>ex21-1.txt
<DESCRIPTION>EX21-1.TXT
<TEXT>
<PAGE>


                                                                    Exhibit 21.1

                              List of Subsidiaries

AAPOP 1, L.P., a Delaware limited partnership

AAPOP 2, L.P., a Delaware limited partnership

Brandywine Ambassador, L.P., a Pennsylvania limited partnership

Brandywine Central, L.P., a Pennsylvania limited partnership

Brandywine Dominion, L.P., a Pennsylvania limited partnership

Brandywine F.C., L.P., a Pennsylvania limited partnership

Brandywine Grande B, L.P., a Delaware limited partnership

Brandywine Grande C, L.P., a Delaware limited partnership

Brandywine I.S., L.P., a Pennsylvania limited partnership

Brandywine Metroplex, L.P., a Pennsylvania limited partnership

Brandywine Norriton, L.P., a Pennsylvania limited partnership

Brandywine Operating Partnership, L.P., a Delaware limited partnership

Brandywine P.M., L.P., a Pennsylvania limited partnership

Brandywine TB Forig, L.P., a Pennsylvania limited partnership

Brandywine TB Inn, L.P., a Pennsylvania limited partnership

Brandywine TB I, L.P., a Pennsylvania limited partnership

Brandywine TB II, L.P., a Pennsylvania limited partnership

Brandywine TB V, L.P., a Pennsylvania limited partnership

Brandywine TB VI, L.P., a Pennsylvania limited partnership

Brandywine TB VIII, L.P., a Pennsylvania limited partnership

C/N Iron Run Limited Partnership III, a Pennsylvania limited partnership

C/N Leedom Limited Partnership II, a Pennsylvania limited partnership

C/N Oaklands Limited Partnership I, a Pennsylvania limited partnership


<PAGE>

C/N Oaklands Limited Partnership III, a Pennsylvania limited partnership

e-Tenants.com Holding, L.P., a Pennsylvania limited partnership

Fifteen Horsham, L.P., a Pennsylvania limited partnership

Five/Oliver Brandywine Partner, L.P., a Pennsylvania limited partnership

Iron Run Limited Partnership V, a Pennsylvania limited partnership

LC/N Horsham Limited Partnership, a Pennsylvania limited partnership

LC/N Keith Valley Limited Partnership I, a Pennsylvania limited partnership

Newtech IV Limited Partnership, a Pennsylvania limited partnership

Nichols Lansdale Limited Partnership III, a Pennsylvania limited partnership

Witmer Operating Partnership I, L.P., a Delaware limited partnership

Brandywine 55 Ames Court Partnership, a New York general partnership

Brandywine Engineers Lane Partnership, a New York general partnership

Brandywine Broad Street Partnership, a New York general partnership

Interstate Center Associates, a Virginia general partnership

Iron Run Venture II, a Pennsylvania general partnership

IR Northlight II Associates, a Pennsylvania general partnership

AAP Sub One, Inc., a Delaware corporation

Atlantic American Land Development, Inc., a Delaware corporation

Brandywine Grande B Corp., a Delaware corporation

Brandywine Grande C Corp., a Delaware corporation

Brandywine Holdings, I, Inc., a Pennsylvania corporation

Brandywine Realty Services Corporation, a Pennsylvania corporation

BTRS, Inc., a Delaware corporation

Brandywine Ambassador, L.L.C., a Pennsylvania limited liability company

Brandywine Axinn I, LLC, a Delaware limited liability company

<PAGE>

Brandywine Axinn II, LLC, a Delaware limited liability company

Brandywine Brokerage Services, LLC, A New Jersey limited liability company

Brandywine Charlottesville LLC, a Virginia limited liability company

Brandywine Christina LLC, a Delaware limited liability company

Brandywine Croton, LLC, a Pennsylvania limited liability company

Brandywine Dabney, L.L.C., a Delaware limited liability company

Brandywine Dominion, L.L.C., a Pennsylvania limited liability company

Brandywine F.C., L.L.C., a Pennsylvania limited liability company

Brandywine I.S., L.L.C., a Pennsylvania limited liability company

Brandywine Interstate 50,  L.L.C., a Delaware limited liability company

Brandywine - Main Street, LLC, a Delaware limited liability company

Brandywine Metroplex LLC., a Pennsylvania limited liability company

Brandywine Norriton, L.L.C., a Pennsylvania limited liability company

Brandywine P.M., L.L.C., a Pennsylvania limited liability company

Brandywine Piazza, L.L.C., a New Jersey limited liability company

Brandywine Plaza 1000, L.L.C., a New Jersey limited liability company

Brandywine Promenade, L.L.C., a New Jersey limited liability company

Brandywine TB Florig, LLC, a Pennsylvania limited liability company

Brandywine TB Inn, L.L.C., a Pennsylvania limited liability company

Brandywine TB I, L.L.C., a Pennsylvania limited liability company

Brandywine TB II, L.L.C., a Pennsylvania limited liability company

Brandywine TB V, L.L.C., a Pennsylvania limited liability company

Brandywine TB VI, L.L.C., a Pennsylvania limited liability company

Brandywine TB VIII, L.L.C., a Pennsylvania limited liability company

Brandywine Trenton Urban Renewal, L.L.C., a Delaware limited liability company


<PAGE>

Brandywine Witmer, L.L.C., a Pennsylvania limited liability company

e-Tenants LLC, a Delaware limited liability company

Brandywine Industrial Partnership, L.P., a Delaware limited partnership

1000 Chesterbrook Boulevard Partnership, a Pennsylvania general partnership

Christiana Center Operating Company I LLC, a Delaware limited liability company

Christiana Center Operating Company II LLC, a Delaware limited liability company

Christiana Center Operating Company III LLC, a Delaware limited liability
company

Two Tower Bridge Associates, a Pennsylvania limited partnership

Four Tower Bridge Associates, a Pennsylvania limited partnership

Five Tower Bridge Associates, a Pennsylvania limited partnership

Six Tower Bridge Associates, a Pennsylvania limited partnership

Atlantic American Properties Trust, a Maryland real estate investment trust



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>19
<FILENAME>ex23-1.txt
<DESCRIPTION>EX23-1.TXT
<TEXT>
<PAGE>

                          INDEPENDENT AUDITORS' CONSENT

The Board of Trustees Brandywine Realty Trust

We consent to the incorporation by reference in the registration statements
(Nos. 333-52952, 333-69653, 333-56237, 333-53359, 333-46647, 333-20999) on Form
S-3 and (Nos. 333-52957, 333-28427, 333-14243) on Form S-8 of Brandywine Realty
Trust of our report dated February 26, 2003, with respect to the consolidated
balance sheets of Brandywine Realty Trust and subsidiaries as of December 31,
2002 and 2001, and the related consolidated statements of operations,
beneficiaries' equity and comprehensive income, and cash flows for each of the
years in the three-year period ended December 31, 2002, and the related
financial statement schedules, which report appears in the December 31, 2002
annual report on Form 10-K of Brandywine Realty Trust. Our report refers to the
fact that effective January 1, 2002, the Company adopted Statement of Financial
Accounting Standards No. 144, Accounting for the Impairment or Disposal of
Long-Lived Assets.

                                                     /s/ KPMG LLP


Philadelphia, Pennsylvania
March 27, 2003



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>20
<FILENAME>ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>

Exhibit 99.1



                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Brandywine Realty Trust (the "Company")
on Form 10-K for the period ending December 31, 2002 as filed with
the Securities and Exchange Commission on the date hereof (the "Report"), I,
Gerard H. Sweeney, President and Chief Executive Officer of the Company,
certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002, that:

         (1) The Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

         (2) The information contained in the Report fairly represents, in all
material respects, the financial condition and result of operations of the
Company.

/s/ Gerard H. Sweeney

Gerard H. Sweeney
President and Chief Executive Officer
March 27, 2003


A signed original of this written statement required by Section 906 has been
provided to Brandywine Realty Trust and will be retained by Brandywine Realty
Trust and furnished to the Securities and Exchange Commission or its staff upon
request.




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>21
<FILENAME>ex99-2.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<PAGE>

Exhibit 99.2



                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Brandywine Realty Trust (the "Company")
on Form 10-K for the period ending December 31, 2002 as filed with the
Securities and Exchange Commission on the date hereof (the "Report"), I,
Christopher P. Marr, Senior Vice President and Chief Financial Officer of the
Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that:

         (1) The Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

         (2) The information contained in the Report fairly represents, in all
material respects, the financial condition and result of operations of the
Company.

/s/ Christopher P. Marr

Christopher P. Marr
Senior Vice President and Chief Financial Officer
March 27, 2003


A signed original of this written statement required by Section 906 has been
provided to Brandywine Realty Trust and will be retained by Brandywine Realty
Trust and furnished to the Securities and Exchange Commission or its staff upon
request.



</TEXT>
</DOCUMENT>
</SUBMISSION>
