VORNADO REALTY TRUST 52 NOTES TO CONSOLIDATED FINANCIAL STA TEMENTS VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STA TEMENTS 1.  Organization and Business Office Properties:  Retail Properties: Merchandise Mart Properties: Temperature Controlled Logistics: Other Real Estate Investments: (ii) 60 retail properties in six states and Puerto Rico aggregating appr oximately 12.9 million square feet, including 2.7 million square feet built by tenants on land leased from the Company; (iii) 8.6 million square feet of showroom and office space, including the 3.4 million square foot Merchandise Mart in Chicago; (iv) a 60% interest in the Vornado Crescent Portland Partnership that owns 87 cold storage warehouses nationwide with an aggregate of approximately 440.7 million cubic feet of r efrigerated space leased to AmeriCold Logistics; (v) 33.1% of the outstanding common stock of Alexander’s, Inc. (“Alexander’s”);  (vi) the Hotel Pennsylvania in New York City consisting of a hotel portion containing 1.0 million square feet with 1,700 rooms and a commercial portion containing .4 million square feet of r etail and office space; (vii) a 22.6% interest in The Newkirk Master Limited Partnership (“Newkirk MLP”) which owns office, retail and industrial properties net leased primarily to credit rated tenants, and various debt interests in such properties; (viii) eight dry warehouse/industrial properties in New Jersey containing approximately 2.0 million square feet; and (ix) other investments, including interests in other real estate, marketable securities and loans and notes receivable. (i) all or portions of 83 office properties aggregating approximately 27.3 million square feet in the New York City metropoli- tan area (primarily Manhattan) and in the Washington D.C. and Northern Virginia area; Vornado Realty Trust is a fully-integrated real estate investment trust (“REIT”). Vornado conducts its business through Vornado Realty L.P., (“the Operating Partnership”). Vornado is the sole general partner of, and owned approximately 82% of the common limited partnership interest in, the Operating Partnership at February 16, 2004. All references to the “Company” and “Vornado” refer to Vornado Realty Trust and its consolidated subsidiaries, including the Operating Partnership. The Company currently owns directly or indirectly: