FUNDS FROM OPERATIONS For the three months and years ended December 31, 2002 and 2001 (dollars in thousands, except per share amounts)

		Three Months Ended 12/31/02		Three Months Ended 12/31/01		Year Ended 12/31/02		Year Ended 12/31/01
Net income available to common stockholders	$	17,679	$	15,995	$	68,954	$	57,846
Depreciation and amortization:    Continuing operations		8,097		7,353		30,833		28,447
Discontinued operations		23		169		394		678
Depreciation of furniture,    fixtures and equipment		(32)		(30)		(136)		(115)
Provision for impairment losses:    Continuing operations		--		330		--		1,380
Discontinued operations		340		70		1,320		70
Gain on sales of    investment properties:    Continuing operations		--		(1,556)		(340)		(10,478)
Discontinued operations		(813)		--		(5,957)		--
Funds from operations	$	25,294	$	22,331	$	95,068	$	77,828
Dividends paid to    common stockholders	$	20,269	$	17,966	$	78,042	$	64,871
FFO in excess of dividends	$	5,025	$	4,365	$	17,026	$	12,957
FFO per common share:    Basic	$	0.73	$	0.70	$	2.80	$	2.66
Diluted		0.72		0.70		2.80		2.66
Weighted average number of common shares used for:
Computation per share    Basic		34,871,485		32,077,535		33,933,749		29,225,359
Diluted		34,928,294		32,129,601		33,988,157		29,281,120

 

FUNDS FROM OPERATIONS GENERATED BY CREST NET LEASE For the three months and years ended December 31, 2002 and 2001 (dollars in thousands, except per share amounts)

Gains from the sales of real    estate acquired for resale	$	1,035	$	1,001	$	3,495	$	3,374
Rent and other revenue		161		524		1,422		1,816
Interest expense		(76)		(196)		(395)		(869)
General and administrative    expense		(70)		(79)		(410)		(496)
Property expenses		(13)		--		(117)		--
Income taxes		(230)		(431)		(1,247)		(1,400)
Funds from operations    contributed by Crest Net	$	807	$	819	$	2,748	$	2,425
FFO per common share    Basic and diluted	$	0.02	$	0.03	$	0.08	$	0.08