TABLE OF CONTENTS Selected Consolidated Financial Data 1 Management’ Discussion and Analysis of Financial Condition and Results of Operations 3 Consolidated Balance Sheets 47 Consolidated Statements of Income 48 Consolidated Statements of Shareholders’ Equity 49 Consolidated Statements of Cash Flows 51 Notes to Consolidated Financial Statements 52 Independent Auditors’ Report 90 Market Price of Vornado Common Stock and Related Information 91 Vornado Corporate Information 92