VORNADO REALTY TRUST 7 Managing capital expenditures is an important part of our business. The table below presents capital expenditures* since 2000, in dollars on a segment basis.  Capital Expenditures ($ IN MILLIONS) 2003 2002 2001 2000 New York Office Expenditures to Maintain Assets 14.2 16.2 21.3 15.7 Tenant Improvements & Leasing Commissions 33.8 11.4 39.1 38.7 Washington Office Expenditures to Maintain Assets 11.0 30.1 28.8 25.7 Tenant Improvements & Leasing Commissions 38.6 41.2 10.2 12.6 Retail Expenditures to Maintain Assets 0.6 1.3 1.3 0.4 Tenant Improvements & Leasing Commissions 3.7 2.7 0.6 3.9 Merchandise Mart Expenditures to Maintain Assets 19.0 14.6 12.4 11.4 Tenant Improvements & Leasing Commissions 20.0 3.4 5.5 8.7 Other 0.4 1.0 0.6 11.5 Total: Expenditures to Maintain Assets 45.2 63.2 64.4 64.7 Tenant Improvements & Leasing Commissions 96.1 58.7 55.4 63.9 Total 141.3 121.9 119.8 128.6 * This data excludes expenditures for acquisitions, developments and expansions. Since leasing activity varies year-to-year and the term of leases fluctuate, we think per square foot numbers tell a  meaningful story. In the table below, the Expenditures to Maintain Assets are presented based on total square feet in the segment. Tenant Improvements Leasing Commissions are presented based on square feet leased in the year on  per annum basis based upon the average term of leases. ($ PER SQUARE FOOT) 2003 2002 2001 2000 New York Office Expenditures to Maintain Assets 0.99 1.13 1.48 1.12 Tenant Improvements & Leasing Commissions 4.17 3.78 3.30 4.84 Washington Office Expenditures to Maintain Assets 0.82 2.33 2.30 2.40 Tenant Improvements & Leasing Commissions 2.82 3.67 1.35 0.96 Retail Expenditures to Maintain Assets 0.05 0.12 0.12 0.03 Tenant Improvements & Leasing Commissions 0.27 0.14 0.14 1.13 Merchandise Mart Expenditures to Maintain Assets 2.21 1.70 1.53 1.68 Tenant Improvements & Leasing Commissions 2.29 0.37 0.84 0.89