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Below ar the details of the changes by segment in EBITDA for the three months ended December 31, 2003 compared to the three months ended December 31, 2002. 

<img src='content_image/125279.jpg'>

(1) Represents operations, which were owned for the same period in each year. 

(2) EBITDA and same store percentage increase (decrease) was $236,952 ($80,419 excluding gains on sale of real estate of $156,533) and 7.6% (excluding such gains) for the New York City office portfolio and $73,466 and (2.1%) for the CESCR portfolio. 

Below ar the details of the changes by segment in EBITDA for the three months ended December 31, 2003 compared to the three months ended September 30, 2003: 

<img src='content_image/125280.jpg'>

(1) Represents operations, which were owned for the same period in each year. 

(2) EBITDA and same store percentage increase was $ 236,952 ($80,419 excluding gains on sale of real estate of $156,533) and 2.8% (excluding such gains) for the New York City office portfolio and $73,466 and (.2%) for the CESCR portfolio. 

(3) Reflects an increase in the tenant’ gross profits, partially due to seasonality of tenant’s operations and an increase in the tenant’s cash available to pay rent in the three months ended September 30, 2003. 

Below is a reconciliation of net income and EBITDA for the thr ee months ended September 30, 2003. 

<img src='content_image/125281.jpg'>

