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## Supplemental Information 

## Three Months Ended December 31, 2003 and December 31, 2002 

In comparing the financial results of the Company’ segments on a quarterly basis, the following should be noted: 

• The third quarter of the Office and Merchandise Mart segments have historically been impacted by higher net utility costs than in each other quarter of the year; 

• The fourth quarter of the Retail segment have historically been higher than each of the first three quarters due to the recognition of percentage rental income in that quarter; and 

• The second and fourth quarters of the Merchandise Mart segment have historically been higher than the first and third quarters due to major trade shows occurring in those quarters. 

Below is a summary of Net Income and EBITDA (1) by segment for the three months ended December 31, 2003 and 2002. For The Three Months Ended December 31, 2003 

<img src='content_image/128057.jpg'>

Included in EBITDA are gains on sale of real estate of $158,378, of which $156,433 and $1,945 relate to the Office and Retail segments, respectively. 

See notes on following page. 

