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(1) Funds from Operations is defined as net income (loss) before extraordinary items and gains (losses) on sale or disposal of depreciable operating proper- ties, plus depreciation and amortization uniquely significant to real estate and after adjustments for unconsolidated partnerships and joint ventures. 

(2) Assumes all preferred shares, share and unit options and partnership units of the Operating Partnership are converted to common shares. 

(3) GLA represents square feet of gross leasable area of wholly-owned and partially-owned consolidated operating properties. 

(4) Represents per share and unit amounts to common shareholders and holders of preferred shareholders which were $13.21 and $22.05 for 2003 and 2002, respectively. 

(5) Annual dividends and distributions as a percent of funds from operations for such year. 

(6) Represents occupancy only at centers in which we have an ownership interest. 

