S E L E C T E D F I N A N C I A L D A T A Alexandria Real Estate Equities, Inc. and Subsidiaries The following table should be read in conjunction with our consolidated financial statements and notes thereto appear- ing elsewhere in this report. Year Ended December 31, (Dollars in thousands, except per share amounts) 2004 2003 2002 2001 2000 OPERATING DATA: Total revenue  $ 183,284 $ 160,558 $ 142,271 $ 120,861 $ 100,122 Total expenses  124,715 112,054 104,000 93,279 76,685 Income from continuing operations 58,569 48,504 38,271 27,582 23,437 Income from discontinued operations, net 1,626 11,139 1,761 2,695 2,572 Net income $ 60,195 $ 59,643 $ 40,032 $ 30,277 $ 26,009 Dividends on preferred stock 12,595 8,898 8,579 3,666 3,666 Preferred stock redemption charge 1,876 - - - - Net income available to common stockholders $ 45,724 $ 50,745 $ 31,453 $ 26,611 $ 22,343 Basic income per common share: Income from continuing operations  (net of preferred stock dividends and preferred stock redemption charge) $ 2.28 $ 2.09 $ 1.69 $ 1.50 $ 1.37 Income from discontinued operations, net $ 0.08 $ 0.59 $ 0.10 $ 0.17 $ 0.18 Net income available to common stockholders $ 2.37 $ 2.67 $ 1.79 $ 1.67 $ 1.55 Diluted income per common share: Income from continuing operations  (net of preferred stock dividends and preferred stock redemption charge) $ 2.24 $ 2.06 $ 1.66 $ 1.48 $ 1.35 Income from discontinued operations, net $ 0.08 $ 0.58 $ 0.10 $ 0.17 $ 0.17 Net income available to common stockholders $ 2.33 $ 2.64 $ 1.76 $ 1.64 $ 1.52 Weighted average shares of common  stock outstanding Basic  19,315,364 18,993,856 17,594,228 15,953,459 14,460,711 Diluted  19,658,759 19,247,790 17,859,787 16,208,178 14,699,478 Cash dividends declared per share of  common stock $ 2.52 $ 2.20 $ 2.00 $ 1.84 $ 1.72 P 2