X0201 4 2003-08-26 0 0000899715 TANGER FACTORY OUTLET CENTERS INC SKT 0001218084 SUMMERELL VIRGINIA R 3200 NORTHLINE AVENUE, SUITE 360 GREENSBORO NC 27408 0 1 0 0 Treasurer Common Stock 2003-08-25 4 M 0 500 23.5 A 1000 D Common Stock 2003-08-25 4 S 0 500 33.4 D 500 D Common Stock 2003-08-26 4 M 0 100 23.5 A 600 D Common Stock 2003-08-26 4 S 0 100 33.3364 D 500 D Common Stock 2003-08-26 4 M 0 1000 24.25 A 1500 D Common Stock 2003-08-26 4 S 0 1000 33.3364 D 500 D Limited Partnership Unit Option (right to buy) 23.5 2003-08-25 4 M 0 500 0 D 1996-10-31 2005-10-31 Common Stock 500 100 D Limited Partnership Unit Option (right to buy) 23.5 2003-08-26 4 M 0 100 0 D 1996-10-31 2005-10-31 Common Stock 100 0 D Limited Partnership Unit Option (right to buy) 24.25 2003-08-26 4 M 0 1000 0 D 1997-10-28 2006-10-28 Common Stock 1000 0 D Options to purchase limited partnership units, granted pursuant to the Tanger Properties Limited Partnership Unit Option Plan. Each unit obtained upon exercise of option is exchangeable for common stock on a one-for-one basis. The option becomes exercisable in five equal annual installments, commencing one year from the date of grant. By: James F. Williams For: Virginia R. Summerell 2003-08-27