AMLI RESIDENTIAL PPTS. TRUST 125 S. Wacker Dr. Chicago, IL 60606 312 443-1477; Fax: 312 443-0909

BANYANTREE CORP. 311 Nottingham Blvd. West Palm Beach, FL 33405 561 832-0016; Fax: 561 832-0406

BEACON PPTIES. CORP. 50 Rowes Wharf Boston, MA 02110 617 330-1400; Fax: 617 261-0151

CALI REALTY CORP. 11 Commerce Dr. Cranford, NJ 07016 908 272-8000

CAMDEN PROPERTY TRUST Ste.1500, 3200 SW Fwy. Houston, TX 77027 713 964-3555; Fax: 713 621-7374

CAPITAL APARTMENT PROPERTIES, INC. 11200 Rockville Pike Rockville, MD 20852 301 231-8700 Fax: 301 468-8391 CAPREIT is a private, self-administered, self-managed REIT that owns, develops, purchases and manages apartment communities throughout the nation.

CARR AMERICA RLTY. CORP. 1700 Pennsylvania Ave.. N.W. Washington, DC 20006 202 624-7500; Fax: 202 347-6766

COLONIAL PROPERTIES, INC. Ste. 750, 2101 Sixth Ave. N. Birmingham, AL 35203-2764 205 250-8700; Fax: 205 250-8890

COMMERCIAL NET LEASE REALTY, INC. 400 E. South St. Orlando, FL 32801 800 CNL-REIT Fax: 407 648-8756 Web Site: http://www/nnnreit.com

COOPERS & LYBRAND L.L.P. 1301 Ave. of the Americas New York City, NY 10019 212 259-2666 Fax: 212 259-2664

CRESCENT R.E. EQUITIES Ste. 2700, 777 Main St. Fort Worth, TX 76102 817 877-0477; Fax: 817 878-0429

DEVELOPERS DIVERSIFIED REALTY CORP. 34555 Chagrin Blvd. Chagrin Falls, OH 44022 216 247-4700; Fax: 216 247-1118

EQUITY RESIDENTIAL PPTS. TRUST Two N. Riverside Plaza Chicago, IL 60606 312 474-1300; Fax: 312 454-0434

ESSEX PROPERTY TRUST, INC. 777 California Ave. Palo Alto. CA 94304 415 494-3700; Fax: 415 494-8743

EXCEL REALTY TRUST, INC. 16955 Via Del Campo San Diego, CA 92127 619 485-9400; Fax: 619 485-8530

FAC REALTY TRUST, INC. 230 N. Equity Dr. Smithfield, NC 27577 919 934-9446; Fax: 919 934-7588

FIRST INDUSTRIAL REALTY TRUST, INC. Ste.150, 150 N. Wacker Chicago, IL 60606 312 704-9000 Fax: 312 704-6606

FIRST UNION REAL ESTATE INVSTS. Ste.1900, 55 Public Square Cleveland, OH 44113 216 781-4030; Fax: 216 781-7364

G & L REALTY CORP. 439 N. Bedford Dr. Beverly Hills, CA 90210 310 273-9930; Fax: 310 859-9032

GENERAL GROWTH PROPERTIES, INC. 120 N. LaSalle St. Chicago, IL 60602 312 422-2300; Fax: 312 422-2323

GLIMCHER REALTY TRUST 20 S. Third St. Columbus, OH 43215 614 621-9000; Fax: 614 621-9311

GREAT LAKES REIT, INC. Ste. 300, 823 Commerce Dr. Oak Brook, IL 60521 630 368-2900; Fax: 630 368-2929

HIGHWOODS PPTS., INC. Ste. 700, 3100 Smoketree Ct. Raleigh, NC 27604 919 872-4924; Fax: 919 876-2448

IRT PROPERTY CO. Ste. 1400, 200 Galleria Pkwy. Atlanta, GA 30339 770 955-4406; Fax: 770 988-8773

IRVINE APTS. COMMUNITIES 550 Newport Center Dr. Newport Beach, CA 92660 714 720-5500; Fax: 720-5550

JP REALTY, INC. 35 Century Park-Way Salt Lake City, UT 84115 801 486-3911

KOLL: THE REAL ESTATE SERVICES 4343 Von Karman Ave. Newport Beach, CA 92660 714 833-9360 Fax: 714 851-6895

KRANZCO REALTY TRUST 128 Fayette St. Conshohocken, PA 19428 610 941-9292; Fax: 610 941-9193

MALAN REALTY INVESTORS Ste.105, 30200 Telegraph Rd. Birmingham, Ml 48025 810 644-7110; Fax: 810 644-7880

MID-AMERICA REALTY INVSTS., INC. Ste.100,11506 Nicholas St. Omaha, NE 68154 402 496-3300; Fax: 402 496-9210

MIG RESIDENTIAL R.E. INVST. TRUST Ste. 400, 250 Australian Ave. S. West Palm Beach, FL 33401 561 820-1300; Fax: 561 832-1622

THE MILLS CORP. Ste. 400, 3000 K St. N.W. Washington, DC 20007 202 965-3600; Fax: 202 298-5091

NAT'L ASSN. OF REAL ESTATE INVST. TRUSTS, INC. (N.A.R.E.I.T.) Ste. 305,1129 20th St., N.W. Washington, DC 20036-3482 202 785-8717; Fax: 202 785-8723

NATWEST MARKETS 175 Water St. New York City, NY 10038 212 602 4800; Fax: 212 602-4638

NEW PLAN REALTY TRUST 1120 Ave. of the Americas New York City, NY 10036 212 869-3000; Fax: 212 869-3989

OPTIMUM INCOME PPTS., LLC 25819 Turquesa Dr. Valencia. CA 91355 805 254-7509: Fax: 805 254-7509

PAINE WEBBER PROPERTIES INC. 265 Franklin St. Boston. MA 02110 617 439-8150; Fax: 617 345-8752

PARAGON GROUP Ste. 1200, 7557 Rambler Rd. Dallas, TX 75231 214 891-2000 Fax: 214 891-2019

PENNSYLVANIA R.E. INVEST. TRUST 455 Pennsylvania Ave. Fort Washington, PA 19034 215 542-9250: Fax: 215 542-9179

PRICE REIT, INC. 145 S. Fairfax Ave., 4th Fl. Los Angeles, CA 90036 213 937-8200 Fax: 213 937-8175 E-Mail: pricereit@earthlink.net

REALTY INCOME CORP. 220 W. Crest St. Escondido, CA 92025 619 741-2111; Fax: 619 741 -8674

ROC COMMUNITIES INC. Ste. 100, 6430 S. Quebec St. Englewood, CO 80111 800 992-9257; Fax: 303 741-3715

ROSECLIFF REALTY, INC. Ste.1000, 1775 Pennsylvania Ave. N.W. Washington, DC 20006 800 357-8695 Fax: 310 457-1141 Rosecliff Realty is an all cash equity/debt fund that purchases or funds 100% of development cost of buildings nationwide which are or will be leased predominately or exclusively to a single, investment grade tenant.

SHEARSON AMERICAN EQUITIES, INC. 2559 Hutton Dr. Beverly Hills, CA 90210 310 276-4033; Fax: 310 247-8607

SIMON PROPERTY GROUP Merchants Plaza, 115 W. Washington St., P.O. Box 7033 Indianapolis, IN 46207 317 636-1600 Fax: 317 263-7925 Simon Property Group is the nation's largest REIT, with ownership of or interest in 123 properties consisting of regional malls, community shopping centers and specialty and m ixed-use properties, along with two regional malls under construction.

SIZELER PPTY. INVESTORS, INC. 2542 Williams Blvd. Kenner, LA 70062 504 471-6200; Fax: 504 471-6203

CHARLES E. SMITH COS. 2345 Crystal Dr. Arlington, VA 22202 703 920-8500

SPIEKER PROPERTIES Ste. 200, 2180 Sand Hill Rd. Menlo Park, CA 94025 415 854-5600: Fax: 415 233-3838

SUMMIT PROPERTIES Ste. 500, 212 S. Tryon St. Charlotte, NC 28281 704 334-9905: Fax: 704 333-8340

TAUBMAN CENTERS, INC. 200 E. Long Lake Rd. Bloomfield, Ml 48304 810 258-6800 Fax: 810 258-7697

THE TOWN AND COUNTRY TRUST Ste. 1700.,100 S. Charles St. Baltimore, MD 21201 410 539-7600 Fax: 410 547-0789 The Town and Country Trust is a leading owner-manager of multifamily residential properties in the mid-Atlantic states. Our portfolio consists of 13,631 apartment units in 35 communities in Maryland, Virginia, Pennsylvania, and Delaware. A Real Estate Investment Trust, The Town and Country Trust's shares are listed on the New York Stock Exchange under the symbol TCT.

TRINET CORPORATE REALTY TRUST, INC. Ste. 3150, Four Embarcadero Ctr. San Francisco, CA 94111 415 391-4300 Fax: 415 391-6259 REIT focused on acquiring and managing single tenant, office and industrial properties net leased to corporations throughout the United States.

UNITED DOMINION REALTY TRUST Ste. 203,10 S. Sixth St. Richmond, VA 23219-3802 804 780-2691 Fax: 804 343-1912 E-Mail: udrt@ix.netcom.com We buy apartments in the southeast.

URBAN SHOPPING CENTERS, INC. 900 N. Michigan Ave. Chicago, IL60611 312 915-2000; Fax: 312 915-2000

WALDEN RESIDENTIAL PROPERTIES, INC. Ste. 400, LB 45, 5400 LBJ Dallas, TX 75240 214 788-0510 Fax: 214 788-1550

WASATCH SUMMIT DEV. CO., LTD. Ste. 205, 4505 S. Wasatch Blvd. Salt Lake City, UT 84124 801 278-1777; Fax: 801 277-8888

WEEKS CORP. 4497 Park Dr. Norcross, GA 30093 770 923-4076 Fax: 770 717-3310

WEINGARTEN REALTY INVESTORS Ste. 300, 2600 Citadel Plaza Dr. Houston, TX 77008 713 866-6000; Fax: 713 866-6049

WESTERN INVST. R. E. TRUST 3450 California St. San Francisco, CA 94118 415 929-0211; Fax: 415 929-0905