FINANCIAL  HIGHLIGHTS Years ended December 31,  2002 2001 2000 1999 1998 Summary Financial Data Total Revenues  $ 93,963,000  $ 86,308,000  $ 79,029,000  $ 73,791,000 $ 70,583,000 Net Income  $ 19,566,000  $ 17,314,000  $ 14,045,000  $ 13,297,000  $ 9,129,000 FFO $ 44,031,000  $ 40,141,000  $ 35,648,000  $ 32,830,000  $ 29,718,000 Average Common Stock Outstanding  14,886,505  14,210,470  13,623,330  13,100,295 12,643,639 Average Shares and Units Outstanding  20,059,264  19,382,720  18,795,571  18,147,954  17,233,047 FFO Per Share (Diluted)  $ 2.20  $ 2.07  $ 1.90  $ 1.81  $ 1.73 Net Income Per Share (Diluted) $ 1.31  $ 1.22  $ 1.03  $ 1.01  $ 0.72 Dividend as a Percentage of FFO  71%  75%  82%  86%  90% Interest Expense Coverage  a 2.78 2.63 2.51 2.47 2.33 Property Data Number of Properties  34 b 33 33 33 34 Total Portfolio Square Feet  6,272,000  6,159,000 6,143,000 6,108,000 5,901,000 Shopping Center Square Feet  5,069,000  4,956,000  4,941,000  4,936,000 5,187,000 Office Square Feet  1,203,000  1,203,000  1,202,000  1,172,000  714,000 Average Percentage Leased  94%  93%  93%  c 92%  c 90% (a) Interest expense coverage is defined as operating income before interest expense, amortization of deferred debt expense, depreciation and amortization, divided by interest expense. (b) Excludes Broadlands Villlage (under development) and Landsdowne and Clarendon Center land parcels. (c) Excludes Washington Square, which was under development. Seven Corners 601 Pennsylvania Avenue 4