NAREIT FFO White Paper and Related Implementation Guidance

White Paper:

• NAREIT FFO White Paper -- April 5, 2002

Related Implementation Guidance:

• National Policy Bulletin, April 26, 2001: FFO White Paper Disclosures -- Updated February 2004

• Excerpt from Real Estate Accounting Quarterly, July 2000: FFO Guidance on Impairment Losses and Taxes Associated with Asset Dispositions -- Updated February 2004

• SEC Staff Clarifies Further Guidance on Reporting FFO -- October 1, 2003 (Updated February 2004)

• SEC Staff Clarifies Guidance on FFO Reporting -- July 7, 2003

• SEC Staff Issues Guidance on FFO Reporting -- June 20, 2003

• SEC Rule Retains Use of Non-GAAP Per Share Measures -- January 15, 2003

• Accounting for GAAP Discontinued Operations in FFO; Impact of FASB Statement No.144 -- April 5, 2002

• Exclusion of GAAP Extraordinary Items from FFO; Potential Impact of FASB Statement No.145 -- February 14, 2002

• National Policy Bulletin: Guidelines for Reporting FFO on a Per Share Basis -- July 8, 1999

• National Policy Bulletin: Guidance on Including Non-recurring as well as Recurring Items in FFO -- November 8, 1999

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