Exhibit 99.1

New Plan Excel Realty Trust, Inc.

SUPPLEMENTAL DISCLOSURE

Quarter Ended December 31, 2001

Certain statements in this Supplemental Disclosure release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, transactions or achievements of the Company to differ materially from historical results or from any results, transactions or achievements expressed or implied by such forward-looking statements, including without limitation: national and local economic conditions; the ability of tenants to pay rent and the effect of bankruptcy laws; the competitive environment in which the Company operates; financing risks; property management risks; acquisition, disposition, development and joint venture risks, including risks that proposed acquisitions are not consummated, developments and redevelopments are not completed on time or on budget and strategies and actions that the Company may not control; potential environmental and other liabilities; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled “Business-Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2001 which discuss these and other factors that could adversely affect the Company’s results.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Table of Contents

		page
Company Overview / Fourth Quarter Review			2
Shareholder Information			4
Financial Review
	Balance Sheets		5
	Income Statements		6
	Funds from Operations / Funds Available for Distribution / Earnings Before Gains and Losses on Real Estate		7
	Selected Financial Ratios / Data		9
	Summary of Outstanding Debt		10
	Debt Maturity Schedule		12
Activity Review
	2001 Property Acquisitions		13
	2001 Portfolio / Property Dispositions		14
	2001 Redevelopment / Outparcel Development Activities		16
Portfolio Review
	Property Type Summary		18
	Properties by State / Region		19
	Same Property NOI Analysis		20
	Top Ten Tenants		21
	New Lease Summary		22
	Lease Expiration Schedule		23
	Property Portfolio		24
Appendix
	Summary of Joint Venture Projects / Notes Receivable		30
	Joint Venture Projects / Notes Receivable – Disposition Activity		32

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Company Overview / Fourth Quarter Review page 2

New Plan Excel Realty Trust, Inc. is one of the nation’s largest real estate companies, focusing on the ownership and management of community and neighborhood shopping centers. The Company operates as a self-administered and self-managed REIT, with a national portfolio of 362 properties and total assets of approximately $3.3 billion. Its properties are strategically located across 33 states and include 305 community and neighborhood shopping centers, primarily high-quality supermarket or name-brand discount chain anchored, with approximately 42 million square feet of gross leasable area, and 57 related retail real estate assets, with approximately 6 million square feet of gross leasable area. (The above includes the properties acquired on March 1, 2002)

Fourth Quarter Review

Financial Review

• On October 22, 2001, the Company extended the maturity on its $122.5 million Revolving Credit Facility I, at original terms, for one year to October 21, 2002.

Activity Review

• On October 10, 2001, the Company acquired Arapahoe Crossings from The Ellman Companies for approximately $48 million in cash and the satisfaction of $13.6 million of notes receivable and accrued interest. Arapahoe Crossings is a 425,912 square foot grocery-anchored community shopping center located in Aurora, Colorado, southeast of Denver, which is in the final phase of development. Tenants include King Soopers (a division of The Kroger Co.), Kohl’s, Borders, Marshalls, OfficeMax and Old Navy. In total, two properties were acquired during 2001 for an aggregate of approximately $66.5 million, including Stein Mart Center, an 112,405 square foot shopping center located in Poway, California, and Arapahoe Crossings.

• During the fourth quarter, the Company sold 12 properties and three land parcels for an aggregate of approximately $26.9 million. Properties sold during the quarter include Rogers Plaza, a 49,672 square foot shopping center located in Ashburn, Georgia; Cedartown, a 107,220 square foot shopping center located in Cedartown, Georgia; River Run Centre, a 82,957 square foot shopping center located in Coshocton, Ohio; King City Square, a 94,428 square foot shopping center located in Mount Vernon, Illinois; a 25,834 square foot single tenant Rite Aid located in Yuma, Arizona; a 35,015 square foot single tenant Lucky stores located in Dubuque, Iowa; a 30,000 square foot single tenant Lucky stores located in Springfield, Illinois; a 40,265 square foot single tenant Lucky stores located in Sterling, Illinois; a 72,897 square foot single tenant Kmart located in Desoto, Texas; two 1,675 square foot vacant buildings located in Houston, Texas; a 9,095 square foot office building located in Stillwater, Minnesota; a 0.05 acre land parcel located in Cedartown, Georgia, adjacent to Cedartown; a 0.11 acre land parcel located in Louisville, Kentucky, adjacent to Picadilly Square; and a 27 acre land parcel located in Osage Beach, Missouri, adjacent to Factory Outlet Village Osage Beach. In total, the Company sold approximately $429.8 million of properties during 2001, including its garden apartment portfolio, eleven shopping centers, 14 single tenant properties, one miscellaneous property, seven land parcels and one outparcel.

Portfolio Review

• At the end of the fourth quarter, the gross leasable area (GLA) for the Company’s community and neighborhood shopping centers, excluding properties under redevelopment, was approximately 91 percent leased and the GLA for the Company’s factory outlet centers was approximately 87 percent leased. The GLA for the Company’s overall portfolio, excluding properties under redevelopment, was 90 percent leased at December 31, 2001 and when including properties under redevelopment, the GLA for the overall portfolio was approximately 87 percent leased. The average annual base rent (ABR) per leased square foot at

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Company Overview / Fourth Quarter Review page 3

December 31, 2001 for the Company’s overall portfolio was $8.13. During the quarter, 89 new leases were signed at an average ABR of $6.39 per square foot. Also during the quarter, 75 renewal leases were signed at an average ABR of $9.58 per square foot, an increase of approximately 2.8 percent over the expiring leases. In total, 336 new leases, aggregating approximately 1.4 million square feet, were signed during 2001 at an average ABR of $8.75 per square foot and 400 renewal leases, aggregating approximately 1.7 million square feet, were signed at an average ABR of $9.09 per square foot, an increase of approximately 9.0 percent over the expiring leases.

Joint Venture Projects / Notes Receivable

• In early October 2001, two pads were sold at Superior Towne Center for $2.6 million. Superior Towne Center, located in Superior, Colorado, is a 298,000 square foot community shopping center being developed by The Ellman Companies. New Plan Excel Realty Trust holds notes receivable aggregating $25.9 million on the property.

• On December 4, 2001, the Company received $1.3 million of outstanding principal and accrued interest on its note receivable on Atrium on the Bay, a 1,050,000 square foot mixed-use office and retail commercial property located in Toronto, Canada. In total, the Company generated approximately $34.1 million of capital during 2001 from negotiations with joint venture partners and the repayment of unscheduled debt.

Subsequent Events

• On January 13, 2002, the Company entered into a definitive agreement with CenterAmerica Property Trust, L.P., a private company majority owned by Morgan Stanley Real Estate Fund II, to acquire a portfolio of 92 community and neighborhood shopping centers. The transaction closed on March 1, 2002. As part of the transaction, the Company also acquired a 10 percent managing membership interest in a joint venture with a private U.S. pension fund. The aggregate purchase price for the acquisition was approximately $654 million, consisting of approximately $365 million in cash and the assumption of approximately $289 million of outstanding indebtedness. The cash component of the acquisition was financed with the proceeds of a public equity offering of the Company’s common stock and with borrowings under the Company’s existing credit facilities and an interim term facility.

• On January 29, 2002, the Company completed a public offering of 6,900,000 of its common shares at $18.52 per share. The net proceeds to the Company from the offering were approximately $120.7 million.

• On March 1, 2002, the Company entered into a new $125 million senior unsecured term loan facility with Fleet National Bank. The new facility bears interest, at the Company’s option, at either LIBOR plus a spread based upon the Company’s credit ratings, which spread currently would be 90 basis points, or at the higher of Fleet National Bank’s prime rate (plus 25 basis points in specified circumstances) or 50 basis points above the federal funds rate. The facility matures on February 28, 2003.

• On March 1, 2002, Scott MacDonald was appointed Chief Operating Officer and President of the Company. Mr. MacDonald was previously the Chief Executive Officer and President of CenterAmerica Property Trust, L.P.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Shareholder Information page 4

Corporate Headquarters	Transfer Agent and Registrar
New Plan Excel Realty Trust, Inc.	Questions about dividend payments, shareholder accounts, replacement or lost
1120 Avenue of the Americas	certificates, stock transfers and name or address changes should be directed
New York, NY 10036	to:
Phone: 212-869-3000
Fax: 212-869-3989	EquiServe Trust Company, N.A.
www.newplanexcel.com	P.O. Box 43010 Phone: 800-730-6001 www.equiserve.com
	Providence, RI 02940-3010
Exchange Listing
New York Stock Exchange
Common stock: NXL
Series A preferred stock: NXLprA	Corporate Communications Department
Series B preferred stock: NXLprB	Shareholders seeking financial and operating information may contact:
Senior Unsecured Debt Ratings	Stacy Lipschitz
Standard & Poor’s: BBB	Vice President — Corporate Communications
Moody’s: Baa1	Phone: 212-869-3000
	Fax: 212-869-3989
Quarterly Results	E-mail: corporatecommunications@newplanexcel.com slipschitz@newplanexcel.com
The Company expects to announce quarterly results as follows:
First quarter 2002: May 9, 2002
Second quarter 2002: August 8, 2002
Third quarter 2002: November 5, 2002

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Balance Sheets	page 5
(In thousands)

								As Of
		12/31/01			09/30/01			06/30/01			03/31/01			12/31/00
Assets:
Land		$	498,859		$	482,706		$	459,572		$	461,962		$	463,602
Buildings and improvements			2,184,787			2,123,154			1,987,122			1,986,127			1,989,029
Less: accumulated depreciation and amortization			(269,755	)		(255,260	)		(243,872	)		(230,452	)		(218,638	)
	Net real estate		2,413,891			2,350,600			2,202,822			2,217,637			2,233,993
Real estate held for sale			20,747			40,385			16,575			11,706			9,104
Cash and cash equivalents			7,163			120,971			11,966			11,181			1,170
Marketable securities			1,887			1,751			1,991			1,702			1,531
Receivables			43,555			44,469			40,465			40,181			43,454
	Trade, net of allowance for doubtful accounts of (December 31, 2001- $15,633, September 30, 2001- $17,703, June 30, 2001- $14,580, March 31, 2001- $13,478, December 31, 2000- $12,816)
	Other		8,736			14,875			8,701			8,010			11,620
Mortgages and notes receivable			45,360			91,871			40,578			46,872			58,553
Prepaid expenses and deferred charges			15,964			14,268			11,474			11,877			9,320
Assets in discontinued operations			—			—			347,852			345,969			346,779
Investment in and loans to ERT Development Corporation			—			—			168,903			183,962			170,004
Investments in unconsolidated ventures (1)			41,876			3,129			—			—			—
Other assets (2)			23,687			42,360			12,225			9,307			8,903
	TOTAL ASSETS	$	2,622,866		$	2,724,679		$	2,863,552		$	2,888,404		$	2,894,431
Liabilities:
Mortgages payable, including unamortized premium of		$	241,436		$	347,765		$	314,238		$	326,330		$	328,803
	(December 31, 2001- $6,063, September 30, 2001- $6,628, June 30, 2001- $7,097, March 31, 2001- $7,425, December 31, 2000- $7,753)
Notes payable, net of unamortized discount of			613,248			613,183			613,119			613,055			612,992
	(December 31, 2001- $1,1752, September 30, 2001- $1,817, June 30, 2001- $1881, March 31, 2001- $1,945, December 31, 2000- $2,008)
Credit facilities			95,000			75,000			251,750			258,750			243,750
Capital leases			29,170			29,237			29,303			29,367			29,431
Other liabilities (3)			122,674			126,250			101,200			93,436			92,145
Tenant security deposits			5,833			5,694			7,959			7,910			7,791
	TOTAL LIABILITIES		1,107,361			1,197,129			1,317,569			1,328,848			1,314,912
Minority interest in consolidated partnership			22,267			22,932			23,242			23,589			23,909
Stockholders’ equity:
Preferred stock			23			23			23			23			23
Common stock			873			872			872			872			873
Additional paid-in capital			1,697,570			1,695,162			1,695,055			1,694,682			1,695,994
Accumulated other comprehensive (loss) income			(1,965	)		(2,750	)		(3,030	)		(3,281	)		555
Less: accumulated distributions in excess of net income			(203,263	)		(188,689	)		(170,179	)		(156,329	)		(141,835	)
	TOTAL STOCKHOLDERS’ EQUITY		1,493,238			1,504,618			1,522,741			1,535,967			1,555,610
	TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	2,622,866		$	2,724,679		$	2,863,552		$	2,888,404		$	2,894,431

(1) Represents direct equity investments in Vail Ranch II and The Centre at Preston Ridge joint venture projects.

(2) Other assets includes: deposits, real estate tax escrow and furniture and fixtures.

(3) Other liabilities includes: amounts payable for dividends, real estate taxes, interest, payroll and normal vendor payables.

On July 1, 2001, the Company acquired the 5 percent economic interest in ERT Development Corporation (ERT) not previously owned by the Company. As a result, activities of ERT and the Company have been consolidated for GAAP purposes.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Income Statements	page 6
(In thousands, except per share amounts)

																										Twelve
											Three Months Ended															Months Ended
		12/31/01			09/30/01			06/30/01			03/31/01			12/31/00			09/30/00			06/30/00			03/31/00			12/31/01			12/31/00
Rental Revenues:
Rental income		$	69,627		$	67,607		$	66,819		$	66,191		$	68,209		$	67,217		$	67,812		$	68,870		$	270,244		$	272,108
Percentage rents			1,542			1,679			1,240			2,678			1,977			1,184			2,068			2,202			7,139			7,431
Expense reimbursements			17,118			14,648			14,955			14,305			15,657			13,139			13,421			13,219			61,026			55,436
	TOTAL RENTAL REVENUES		88,287			83,934			83,014			83,174			85,843			81,540			83,301			84,291			338,409			334,975
Rental Operating Expenses:
Operating costs			16,949			13,688			13,413			12,648			15,250			11,857			12,711			14,244			56,698			54,062
Real estate and other taxes			9,353			8,766			8,597			8,708			8,755			8,806			9,428			9,120			35,424			36,109
Provision for doubtful accounts			1,629			1,082			1,695			2,047			1,821			649			1,283			619			6,453			4,372
	TOTAL RENTAL OPERATING EXPENSES		27,931			23,536			23,705			23,403			25,826			21,312			23,422			23,983			98,575			94,543
	NET OPERATING INCOME		60,356			60,398			59,309			59,771			60,017			60,228			59,879			60,308			239,834			240,432
Other Income:
Interest, dividend and other income			3,338			3,181			3,678			3,793			8,175			7,477			7,353			7,422			13,990			30,427
Equity participation in ERT			—			—			(2,855	)		(1,458	)		(3,504	)		(5,075	)		(4,012	)		(5,276	)		(4,313	)		(17,867	)
Equity in income of unconsolidated ventures			941			44			—			—			—			—			—			—			985			—
Foreign currency (loss) gain			(61	)		(369	)		349			(479	)		(29	)		(116	)		(276	)		(16	)		(560	)		(437	)
	TOTAL OTHER INCOME		4,218			2,856			1,172			1,856			4,642			2,286			3,065			2,130			10,102			12,123
Other Expenses:
Interest expense			17,828			20,202			19,782			20,967			21,737			22,301			22,641			21,673			78,779			88,352
Depreciation and amortization			15,006			14,717			14,256			13,636			15,020			13,293			13,285			13,766			57,615			55,364
Severance costs			896			—			—			—			1,280			1			915			2,749			896			4,945
General and administrative			3,488			2,100			2,542			2,188			1,791			1,140			2,581			1,997			10,318			7,509
	TOTAL OTHER EXPENSES		37,218			37,019			36,580			36,791			39,828			36,735			39,422			40,185			147,608			156,170
Income before real estate sales, impairment of real estate and minority interest			27,356			26,235			23,901			24,836			24,831			25,779			23,522			22,253			102,328			96,385
Gain (loss) on sale of real estate			927			700			8			(25	)		101			1,185			7,915			(1	)		1,610			9,200
Impairment of real estate			(959	)		(8,774	)		(1,135	)		(2,239	)		(1,720	)		—			(1,900	)		—			(13,107	)		(3,620	)
Minority interest in income of consolidated partnership			(207	)		(215	)		(208	)		(218	)		(197	)		(276	)		(241	)		(238	)		(848	)		(952	)
	INCOME FROM CONTINUING OPERATIONS		27,117			17,946			22,566			22,354			23,015			26,688			29,296			22,014			89,983			101,013
Income from discontinued operations of garden apartment communities			—			3,615			5,215			4,849			4,355			5,545			6,175			5,235			13,679			21,310
Gain on sale of discontinued operations			—			1,500			—			—			—			—			—			—			1,500			—
	INCOME BEFORE EXTRAORDINARY INCOME		27,117			23,061			27,781			27,203			27,370			32,233			35,471			27,249			105,162			122,323
Extraordinary income (1)			—			—			—			—			—			—			758			—			—			758
	NET INCOME	$	27,117		$	23,061		$	27,781		$	27,203		$	27,370		$	32,233		$	36,229		$	27,249		$	105,162		$	123,081
	NET INCOME PER COMMON SHARE — BASIC (BEFORE EXTRAORDINARY INCOME)	$	0.25		$	0.20		$	0.25		$	0.25		$	0.25		$	0.30		$	0.34		$	0.25		$	0.95		$	1.14
	NET INCOME PER COMMON SHARE — DILUTED (BEFORE EXTRAORDINARY INCOME)		0.24			0.20			0.25			0.25			0.25			0.30			0.34			0.25			0.94			1.13
Weighted average common shares outstanding — basic			87,337			87,210			87,206			87,208			87,524			87,651			87,651			87,607			87,241			87,608
ERP partnership units			1,227			1,235			1,235			1,235			1,235			1,235			1,235			1,235			1,231			1,235
Options			492			355			313			169			12			134			128			189			327			108
Weighted average common shares outstanding — diluted			89,056			88,800			88,754			88,612			88,771			89,020			89,014			89,031			88,799			88,951

(1) 2Q 2000 write-off of mortgage premium resulting from prepayment of Circle Center mortgage.

On July 1, 2001, the Company acquired the 5 percent economic interest in ERT Development Corporation (ERT) not previously owned by the Company. As a result, activities of ERT and the Company have been consolidated for GAAP purposes.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Funds from Operations / Funds Available for Distribution / Earnings Before Gains and Losses on Real Estate	page 7
(In thousands, except per share amounts)

																										Twelve
											Three Months Ended															Months Ended
		12/31/01			09/30/01			06/30/01			03/31/01			12/31/00			09/30/00			06/30/00			03/31/00			12/31/01			12/31/00
Funds from Operations (1)
Income before extraordinary income		$	27,117		$	23,061		$	27,781		$	27,203		$	27,370		$	32,233		$	35,471		$	27,249		$	105,162		$	122,323
Add:
Depreciation and amortization			15,437			17,801			18,168			17,557			18,772			16,791			16,754			17,105			68,963			69,422
Impairment of real estate			959			8,774			1,878			2,239			1,720			—			1,900			—			13,850			3,620
Deduct:
Preferred A dividends			(801	)		(801	)		(801	)		(800	)		(800	)		(800	)		(800	)		(800	)		(3,203	)		(3,200	)
Preferred B dividends			(3,396	)		(3,396	)		(3,396	)		(3,396	)		(3,396	)		(3,396	)		(3,396	)		(3,396	)		(13,584	)		(13,584	)
Preferred D dividends			(1,463	)		(1,463	)		(1,463	)		(1,463	)		(1,463	)		(1,463	)		(1,462	)		(1,463	)		(5,852	)		(5,851	)
(Gain) loss on sale of real estate (2)			(614	)		63			614			25			(101	)		(1,185	)		(7,915	)		1			88			(9,200	)
(Gain) on sale of discontinued operations			—			(1,500	)		—			—			—			—			—			—			(1,500	)		—
	FUNDS FROM OPERATIONS — BASIC		37,239			42,539			42,781			41,365			42,102			42,180			40,552			38,696			163,924			163,530
Add:
Preferred A dividends			801			801			801			800			800			800			800			800			3,203			3,200
Minority interest in income of consolidated partnership			207			215			208			218			197			276			241			238			848			952
	FUNDS FROM OPERATIONS — DILUTED	$	38,247		$	43,555		$	43,790		$	42,383		$	43,099		$	43,256		$	41,593		$	39,734		$	167,975		$	167,682
	FUNDS FROM OPERATIONS PER SHARE — BASIC	$	0.43		$	0.49		$	0.49		$	0.47		$	0.48		$	0.48		$	0.46		$	0.44		$	1.88		$	1.87
	FUNDS FROM OPERATIONS PER SHARE — DILUTED		0.42			0.48			0.48			0.47			0.48			0.48			0.46			0.44			1.85			1.85
Weighted average common shares outstanding — basic			87,337			87,210			87,206			87,208			87,524			87,651			87,651			87,607			87,241			87,608
ERP partnership units			1,227			1,235			1,235			1,235			1,235			1,235			1,235			1,235			1,231			1,235
Options			492			355			313			169			12			134			128			189			327			108
Dilutive effect of convertible Preferred A			1,874			1,874			1,874			1,874			1,874			1,874			1,874			1,874			1,874			1,874
Weighted average common shares outstanding — diluted			90,930			90,674			90,628			90,486			90,645			90,894			90,888			90,905			90,673			90,825
Funds Available for Distribution:
Funds from operations — diluted		$	38,247		$	43,555		$	43,790		$	42,383		$	43,099		$	43,256		$	41,593		$	39,734		$	167,975		$	167,682
Straight line rents			(1,067	)		(389	)		(817	)		29			(542	)		(436	)		(805	)		(717	)		(2,244	)		(2,448	)
Tenant improvements			(3,493	)		(2,743	)		(822	)		(2,372	)		(683	)		(522	)		(1,485	)		(1,843	)		(9,430	)		(4,533	)
Leasing commissions			(690	)		(635	)		(255	)		(153	)		(210	)		(223	)		(225	)		(217	)		(1,733	)		(875	)
Building improvements capitalized			(3,404	)		(6,547	)		(5,613	)		(3,747	)		(4,413	)		(1,464	)		(1,963	)		(1,624	)		(19,311	)		(9,464	)
	FUNDS AVAILABLE FOR DISTRIBUTION	$	29,593		$	33,241		$	36,283		$	36,140		$	37,251		$	40,611		$	37,115		$	35,333		$	135,257		$	150,362
	FUNDS AVAILABLE FOR DISTRIBUTION PER SHARE — BASIC	$	0.34		$	0.38		$	0.42		$	0.41		$	0.43		$	0.46		$	0.42		$	0.40		$	1.55		$	1.72
	FUNDS AVAILABLE FOR DISTRIBUTION PER SHARE — DILUTED		0.33			0.37			0.40			0.40			0.41			0.45			0.41			0.39			1.49			1.66
Earnings Before Gains and Losses on Real Estate (EBGL)
Income before extraordinary income		$	27,117		$	23,061		$	27,781		$	27,203		$	27,370		$	32,233		$	35,471		$	27,249		$	105,162		$	122,323
Add:
Impairment of real estate			959			8,774			1,878			2,239			1,720			—			1,900			—			13,850			3,620
Deduct:
(Gain) loss on sale of real estate			(927	)		(700	)		(8	)		25			(101	)		(1,185	)		(7,915	)		1			(1,610	)		(9,200	)
(Gain) on sale of discontinued operations			—			(1,500	)		—			—			—			—			—			—			(1,500	)		—
	EBGL	$	27,149		$	29,635		$	29,651		$	29,467		$	28,989		$	31,048		$	29,456		$	27,250		$	115,902		$	116,743
	EBGL PER SHARE — BASIC	$	0.25		$	0.27		$	0.28		$	0.27		$	0.27		$	0.29		$	0.27		$	0.25		$	1.07		$	1.07
	EBGL PER SHARE — DILUTED		0.24			0.27			0.27			0.27			0.27			0.29			0.27			0.25			1.06			1.07

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Funds from Operations / Funds Available for Distribution / Earnings Before Gains and Losses on Real Estate	page 8
(In thousands, except per share amounts)

																										Twelve
											Three Months Ended															Months Ended
		12/31/01			09/30/01			06/30/01			03/31/01			12/31/00			09/30/00			06/30/00			03/31/00			12/31/01			12/31/00
Dividend per Common share		$	0.41250		$	0.41250		$	0.41250		$	0.41250		$	0.41250		$	0.41250		$	0.41250		$	0.41250		$	1.65000		$	1.65000
Dividend per Preferred A share			0.53125			0.53125			0.53125			0.53125			0.53125			0.53125			0.53125			0.53125			2.12500			2.12500
Dividend per Preferred B share			0.53906			0.53906			0.53906			0.53906			0.53906			0.53906			0.53906			0.53906			2.15624			2.15624
Dividend per Preferred D share			0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			3.90000			3.90000
Common dividends		$	35,975		$	35,977		$	35,973		$	36,037		$	36,156		$	36,156		$	36,156		$	36,156		$	143,962		$	144,624
Preferred A dividends			801			801			801			800			800			800			800			800			3,203			3,200
Preferred B dividends			3,346			3,396			3,396			3,396			3,396			3,396			3,396			3,396			13,534			13,584
Preferred D dividends			1,463			1,463			1,463			1,463			1,463			1,463			1,462			1,463			5,852			5,851
	TOTAL DISTRIBUTIONS	$	41,585		$	41,637		$	41,633		$	41,696		$	41,815		$	41,815		$	41,814		$	41,815		$	166,551		$	167,259
Payout ratio of common dividends/diluted funds from operations (3)			92	%		83	%		82	%		85	%		81	%		84	%		85	%		85	%		85	%		84	%
Payout ratio of common dividends/funds available for distribution (3)			118	%		108	%		99	%		100	%		94	%		89	%		95	%		95	%		106	%		93	%

(1)	Includes results from discontinued operations.
(2)	Excludes gain (loss) on sale of land.
(3)	Excludes severance costs.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Selected Financial Ratios / Data	page 9
(In thousands, except per share amounts)

																										Twelve
											Three Months Ended															Months Ended
		12/31/01			09/30/01			06/30/01			03/31/01			12/31/00			09/30/00			06/30/00			03/31/00			12/31/01			12/31/00
Debt coverage ratios:
	Interest coverage ratio (EBITDA /interest expense)		3.37	x		3.28	x		3.23	x		3.06	x		3.03	x		2.99	x		2.90	x		2.90	x		3.23	x		2.95	x
	Debt service coverage (EBITDA/(interest expense +		2.98	x		2.94	x		2.87	x		2.75	x		2.78	x		2.75	x		2.62	x		2.59	x		2.90	x		2.68	x
	scheduled principal payments))
	Fixed charge coverage (EBITDA/(interest expense +		2.33	x		2.35	x		2.29	x		2.21	x		2.24	x		2.23	x		2.13	x		2.10	x		2.30	x		2.17	x
	scheduled principal payments + preferred dividends))
Debt/equity ratios:
	Total debt/total market capitalization		33.6	%		37.7	%		43.1	%		42.6	%		46.6	%		45.6	%		47.0	%		46.7	%		33.6	%		46.6	%
	Total debt/total equity market capitalization		50.6	%		60.5	%		75.7	%		74.3	%		87.2	%		84.0	%		88.8	%		87.5	%		50.6	%		87.2	%
	Total debt/total book assets		37.3	%		39.1	%		42.2	%		42.5	%		42.0	%		41.6	%		41.8	%		42.2	%		37.3	%		42.0	%
Overhead ratios:
	Annualized G&A/total assets		0.53	%		0.31	%		0.36	%		0.30	%		0.25	%		0.16	%		0.35	%		0.27	%		0.39	%		0.26	%
	G&A/total revenues (excluding currency change)		3.77	%		2.41	%		3.03	%		2.56	%		1.98	%		1.36	%		2.98	%		2.31	%		2.96	%		2.16	%
Capitalized interest:		$	924		$	579		$	526		$	73		$	77		$	82		$	79		$	198		$	2,102		$	436
Market capitalization calculations:
	Common shares outstanding		87,352			87,213			87,210			87,205			87,320			87,651			87,651			87,651			87,352			87,320
	Preferred A shares outstanding		1,507			1,507			1,507			1,507			1,507			1,507			1,507			1,507			1,507			1,507
	Preferred B shares outstanding		6,300			6,300			6,300			6,300			6,300			6,300			6,300			6,300			6,300			6,300
	Preferred D shares outstanding		1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500
	Common stock price end of period	$	19.05		$	17.10		$	15.30		$	16.00		$	13.13		$	13.69		$	13.00		$	13.75		$	19.05		$	13.13
	Preferred A price end of period		25.50			25.95			23.35			24.25			21.00			20.85			22.25			19.25			25.50			21.00
	Preferred B price end of period		24.90			24.70			24.11			23.20			22.25			22.50			21.50			19.50			24.90			22.25
	Preferred D price end of period		50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00
	Common market equity at end of period	$	1,664,213		$	1,491,342		$	1,334,313		$	1,395,280		$	1,146,080		$	1,199,938		$	1,139,459		$	1,205,197		$	1,664,213		$	1,146,080
	Preferred market equity at end of period		270,299			269,717			262,081			257,705			246,817			248,166			243,976			226,856			270,299			246,817
	Total equity market capitalization		1,934,512			1,761,059			1,596,394			1,652,985			1,392,897			1,448,104			1,383,435			1,432,053			1,934,512			1,392,897
	Total debt end of period		978,854			1,065,185			1,208,410			1,227,502			1,214,976			1,215,748			1,227,924			1,252,778			978,854			1,214,976
	TOTAL MARKET CAPITALIZATION	$	2,913,366		$	2,826,244		$	2,804,804		$	2,880,487		$	2,607,873		$	2,663,852		$	2,611,359		$	2,684,831		$	2,913,366		$	2,607,873
EBITDA calculation:
	Income before extraordinary income	$	27,117		$	23,061		$	27,781		$	27,203		$	27,370		$	32,233		$	35,471		$	27,249		$	105,162		$	122,323
	Depreciation and amortization		15,006			14,717			14,256			13,636			15,020			13,293			13,285			13,766			57,615			55,364
	Income taxes		114			114			174			114			119			127			167			98			516			511
	Interest expense		17,828			20,202			19,782			20,967			21,737			22,301			22,641			21,673			78,779			88,352
	Impairment of real estate		959			8,774			1,878			2,239			1,720			—			1,900			—			13,850			3,620
	(Gain) loss on sale of real estate		(927	)		(700	)		(8	)		25			(101	)		(1,185	)		(7,915	)		1			(1,610	)		(9,200	)
	EBITDA	$	60,097		$	66,168		$	63,863		$	64,184		$	65,865		$	66,769		$	65,549		$	62,787		$	254,312		$	260,970

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Summary of Outstanding Debt	page 10
(In thousands)

			Outstanding		Actual			Maturity		Percent of
		Lender	Balance		Interest Rate			Date		Total Indebtedness
Fixed Rate Debt:
	Secured Mortgage Indebtedness
	Knollwood Apartments	Abraham Mitchell	$	6,027		6.750	%		04/01/02		0.62	%
	Kmart Plaza (Elizabethtown)	Guardian Life Insurance		4,556		9.530	%		06/01/02		0.47	%
	Hillcrest Apartments	Abraham Mitchell		1,253		6.750	%		07/01/02		0.13	%
	Lake Drive Plaza	Monumental Life Insurance		3,467		7.200	%		04/01/03		0.36	%
	Roanoke Landing	American Express		5,633		7.200	%		04/03/03		0.58	%
	Hunting Hills	Nationwide Life Insurance		3,870		8.250	%		05/01/03		0.40	%
	Valley Fair Mall	Lincoln National Life		15,994		7.600	%		12/31/03		1.64	%
	Briggsmore Plaza	AETNA Life		671		8.288	%		08/01/04		0.07	%
	Genesee Valley Shopping Center	Nationwide Life Insurance		8,062		8.850	%		02/10/05		0.83	%
	Roundtree Place	Nationwide Life Insurance		6,593		8.850	%		02/10/05		0.68	%
	Grant Mills Station	Nationwide Life Insurance		7,091		8.850	%		02/10/05		0.73	%
	Lagniappe Village Shopping Center	Nationwide Life Insurance		6,013		8.850	%		02/10/05		0.62	%
	Mist Lake Plaza	Nationwide Life Insurance		8,946		8.850	%		02/10/05		0.92	%
	Montebello Plaza	Nationwide Life Insurance		6,147		9.625	%		03/05/07		0.63	%
	Crown Point	Jackson National Life Insurance		7,441		8.120	%		05/01/07		0.76	%
	Westminster City Center	Wells Fargo		29,129		6.690	%		02/01/08		2.99	%
	Brice Park	USG Annuity and Life		4,007		7.875	%		02/01/09		0.41	%
	London Marketplace	Aegon USA Realty		4,533		8.265	%		04/01/09		0.47	%
	Paradise Plaza	CIGNA		2,160		9.150	%		04/15/09		0.22	%
	Saddletree Village Shopping Center	Aegon USA Realty		1,796		8.250	%		05/22/10		0.18	%
	Hampton Village Centre	Deutsche Banc		29,654		8.530	%		06/30/10		3.04	%
	Greentree	San Francisco Retirement Fund		5,186		8.240	%		10/01/10		0.53	%
	Merchant’s Central	San Francisco Retirement Fund		6,446		8.240	%		10/01/10		0.66	%
	Northside Plaza	San Francisco Retirement Fund		2,263		8.240	%		10/01/10		0.23	%
	Habersham Crossing	San Francisco Retirement Fund		3,771		8.240	%		10/01/10		0.39	%
	Johnstown Galleria Outparcel	Protective Life		2,950		8.000	%		07/11/11		0.30	%
	Irving West	Protective Life		2,443		8.500	%		09/30/11		0.25	%
	Chapel Square	American National Insurance		1,825		9.250	%		02/01/13		0.19	%
	Northgate	Shoptaw James		7,059		8.750	%		06/30/13		0.72	%
	Perry Marketplace	American Express		5,145		9.000	%		10/01/13		0.53	%
	Riverview Plaza	Protective Life		4,961		8.625	%		09/01/15		0.51	%
	Stratford Commons	Protective Life		5,480		8.125	%		10/01/15		0.56	%
	TOTAL FIXED RATE SECURED MORTGAGE INDEBTEDNESS		$	210,572		8.145	%				21.61	%

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Summary of Outstanding Debt	page 11
(In thousands)

			Outstanding			Actual			Maturity		Percent of
		Lender	Balance			Interest Rate			Date		Total Indebtedness
	Unsecured Notes
	6.80%, 7 Year Unsecured Notes	—	$	81,000			6.800	%		05/15/02		8.31	%
	7.33%, 4 Year Unsecured Notes	—		49,000			7.330	%		11/20/03		5.03	%
	6.88%, 7 Year Unsecured Notes	—		75,000			6.875	%		10/15/04		7.70	%
	7.75%, 10 Year Unsecured Notes	—		100,000			7.750	%		04/06/05		10.26	%
	7.35%, 10 Year Unsecured Notes	—		30,000			7.350	%		06/15/07		3.08	%
	7.40%, 10 Year Unsecured Notes	—		150,000			7.400	%		09/15/09		15.39	%
	7.97%, 30 Year Unsecured Notes	—		10,000			7.970	%		08/14/26		1.03	%
	7.65%, 30 Year Unsecured Notes	—		25,000			7.650	%		11/02/26		2.57	%
	7.68%, 30 Year Unsecured Notes	—		10,000			7.680	%		11/02/26		1.03	%
	7.68%, 30 Year Unsecured Notes	—		10,000			7.680	%		11/02/26		1.03	%
	6.90%, 30 Year Unsecured Notes	—		25,000			6.900	%		02/15/28		2.57	%
	6.90%, 30 Year Unsecured Notes	—		25,000			6.900	%		02/15/28		2.57	%
	7.50%, 30 Year Unsecured Notes	—		25,000			7.500	%		07/30/29		2.57	%
	TOTAL FIXED RATE UNSECURED NOTES		$	615,000			7.298	%				63.11	%
	CAPITAL LEASES		$	29,170			7.500	%		06/20/31		2.99	%
	TOTAL FIXED RATE DEBT		$	854,742			7.513	%				87.71	%
Variable Rate Debt: (1)
	Secured Mortgage Indebtedness
	San Dimas Plaza	Tax Exempt Bonds	$	8,100			2.510	%		12/01/05		0.83	%
	Highland Commons	Great Northern Insured Annuity		4,092			7.250	%		12/01/09		0.42	%
	Lexington Road Plaza	Great Northern Insured Annuity		7,276			8.125	%		09/01/11		0.75	%
	Unity Professional Bldg.	Tax Exempt Bonds		5,333			2.877	%		02/01/13		0.55	%
	TOTAL VARIABLE RATE SECURED MORTGAGE INDEBTEDNESS		$	24,801			5.018	%				2.54	%
	Unsecured Credit Facilities
	$75 Million Term Loan Facility	Fleet National Bank	$	75,000			4.494	%		05/08/02		7.70	%
	$122.5 Million Revolving Credit Facility I	The Bank of New York		0			—			10/21/02		0.00	%
	$122.5 Million Revolving Credit Facility II	The Bank of New York		20,000			4.735	%		11/17/02		2.05	%
	TOTAL CREDIT FACILITIES		$	95,000			4.545	%				9.75	%
	TOTAL VARIABLE RATE DEBT		$	119,801			4.643	%				12.29	%
	TOTAL DEBT		$	974,543			7.161	%				100.00	%
	Net Unamortized Premiums on Mortgages		$	6,063
	Net Unamortized Discount on Notes			(1,752	)
	TOTAL DEBT — NET		$	978,854

(1)  The Company has entered into a two-year swap agreement with Fleet National Bank relating to $75.0 million outstanding under its Term Loan Facility. The agreement effectively fixes the debt at a base rate of 6.67% plus applicable spreads associated with the Company’s Term Loan Facility. The Swap, which expires in October 2002, increases the interest rate for the Company’s Term Loan Facility, Total Variable Rate Debt and Total Debt to 6.496%, 6.192% and 7.351%, respectively.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Debt Maturity Schedule	page 12
(In thousands)

	Scheduled		Scheduled			Total			Percent of
	Amortization		Maturities			Debt Maturing			Debt Maturing
2002	$	7,293	$	187,791	(1)	$	195,084			20.02	%
2003		7,595		76,460			84,055			8.63	%
2004		7,471		75,000			82,471			8.46	%
2005		6,956		141,794			148,750			15.26	%
2006		7,469		—			7,469			0.77	%
2007		6,589		36,499			43,088			4.42	%
2008		1,683		30,885			32,568			3.34	%
2009+		45,074		335,984			381,058			39.10	%
	$	90,130	$	884,413		$	974,543			100.00	%
	Net Unamortized Premiums on Mortgages						6,063
	Net Unamortized Discount on Notes						(1,752	)
	TOTAL DEBT - NET					$	978,854

Weighted Average Maturity:

	Fixed Rate Debt	Variable Rate Debt	Total Debt
Including capital leases and credit facilities	8.8 Years	1.2 Years	7.9 Years
Excluding capital leases and credit facilities	8.2 Years	3.9 Years	8.0 Years

(1)  Scheduled maturities include $75.0 million representing the balance of the Term Loan Facility drawn as of December 31, 2001 and maturing May 8, 2002 and $20.0 million representing the balance of the Revolving Credit Facility II drawn as of December 31, 2001 and maturing November 17, 2002.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

2001 Property Acquisitions page 13

	Property			Purchase		Purchase		Cap-			Net Operating				Percent				Year
	Type (1)		Location	Date		Amount		Rate			Income (NOI) (2)		GLA		Leased (3)			Anchor Tenants	Built
1Q 2001
Stein Mart Center (4)		S	Poway, CA		01/11/01	$	4,900,000		7.0	%	$	333,200		112,405		63	%	Motorsports Warehouse, Stein Mart		1981
4Q 2001
Arapahoe Crossings (5)		S	Aurora, CO		10/10/01	$	61,600,000		9.5	%	$	5,852,000		397,912		100	%	King Soopers, Kohl's, Mann Theatre, Marshalls, Office Max, Old Navy, Ross, Ulta Cosmetics		1996
2001 Total Acquisitions						$	66,500,000		9.5	%	$	6,185,200		510,317

(1)	S — Shopping Center
(2)	Based upon the in-place tenancy as of closing date of acquisition.
(3)	As of closing date of acquisition.
(4)	The Company is currently reviewing a redevelopment plan for the property.
(5)	Acquired for approximately $48.0 million in cash and the satisfaction of $13.6 million of notes receivable and accrued interest.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

2001 Portfolio / Property Dispositions page 14

	Property				Sale		Sale		Book		Gain /			Cap-						Units / GLA /		Percent			Year
	Type (1)		Location		Date		Amount		Value		(Loss)			Rate			NOI (2)			Acres		Leased (3)			Built
Portfolio Dispositions
3Q 2001
53 Garden Apartment Communities (4)		A	14 states			09/21/01	$	380,000,000	$	378,499,542	$	1,500,458			9.5	%	$	36,100,000		12,550 units			92	%	Varied
Property Dispositions
1Q 2001
Mr. B’s		S	Cordele, GA			03/08/01	$	295,000	$	307,711	$	(12,711	)		5.3	%	$	15,498			13,702		37	%		1968
Acme Markets		T	Philadelphia, PA			03/23/01		1,650,000		1,662,666		(12,666	)		9.2	%		152,143			34,000		100	%		1980
Total							$	1,945,000	$	1,970,377	$	(25,377	)		8.6	%	$	167,641			47,702
2Q 2001
Colonial Heights		S	Colonial Heights, VA			04/06/01	$	265,000	$	251,870	$	13,130			—		$	(20,419	)		80,363		0	%		1972
Land, adjacent to Hampton Village Centre		L	Rochester Hills, MI			05/11/01		1,903,572		1,448,493		455,079			—			—		9.2 acres			—			—
Kmart		T	Somerville, NJ			06/08/01		2,750,000		2,402,012		347,988			9.2	%		252,576			55,552		100	%		1982
Eagle Food Center		T	Coralville, IA			06/11/01		1,500,000		1,488,490		11,510			10.6	%		159,704			28,875		100	%		1981
Marcy Shopping Center		S	Marcy, NY			06/15/01		540,000		647,388		(107,388	)		—			(110,064	)		123,380		2	%		1971
Safeway		T	Sherwood, AR			06/18/01		1,450,000		1,959,622		(509,622	)		8.9	%		129,458			44,617		100	%		1981
Land, adjacent to Southwood Plaza		L	Bowling Green, OH			06/25/01		225,000		57,596		167,404			—			—		38 acres			—			—
Lakewood Village (5)		—		—		—		—		—		(370,000	)		—			—			—		—			—
Total							$	8,633,572	$	8,255,471	$	8,101			—		$	411,255			332,787
3Q 2001
Annie Land Plaza		S	Lovingston, VA			07/03/01	$	2,920,000	$	2,981,468	$	(61,468	)		9.5	%	$	277,784			42,500		94	%		1999
New Market Shopping Center		S	Varina, VA			07/03/01		3,400,000		3,500,657		(100,657	)		10.3	%		348,547			40,100		96	%		1998
Gloversville		S	Gloversville, NY			07/13/01		719,750		739,114		(19,364	)		10.9	%		78,681			45,012		100	%		1974
Outparcel, adjacent to Congress Crossing (6)		O	Athens, TN			07/31/01		937,500		119,825		817,675			—			—		1 acre			—			—
The Kroger Co. (BI-LO) (6)		T	James Island, SC			08/01/01		1,700,000		1,701,730		(1,730	)		12.1	%		205,805			42,130		100	%		1982
Firstar Bank Building		T	Burnsville, MN			08/17/01		1,300,000		1,322,196		(22,196	)		9.7	%		126,415			13,373		100	%		1975
Springtown		L	Springtown, TX			08/29/01		121,200		273,415		(152,215	)		—			—		1 acre			—			—
Land, adjacent to Maple Village		L	Ann Arbor, MI			09/05/01		100,000		2,848		97,152			—			—		.08 acre			—			—
First American Bank		T	Kingsport, TN			09/17/01		200,000		87,506		112,494			10.6	%		21,155			5,532		65	%		1970
Genoa Plaza		S	Genoa, OH			09/28/01		975,000		944,834		30,166			10.8	%		105,587			16,500		93	%		1987
Total							$	12,373,450	$	11,673,593	$	699,857			—		$	1,163,974			205,147

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

2001 Portfolio / Property Dispositions page 15

	Property			Sale		Sale		Book		Gain /			Cap-						Units / GLA /		Percent			Year
	Type (1)		Location	Date		Amount		Value		(Loss)			Rate			NOI (2)			Acres		Leased (3)			Built
4Q 2001
Land, adjacent to Cedartown		L	Cedartown, GA		09/01/01	$	30,000	$	27,325	$	2,675			—			—		.05 acre			—			—
Rogers Plaza		S	Ashburn, GA		10/04/01		1,525,000		903,399		621,601			8.5	%		130,293			49,672		62	%		1974
Rite Aid		T	Yuma, AZ		10/15/01		1,027,000		963,350		63,650			10.2	%		104,653			25,834		100	%		1980
Cedartown		S	Cedartown, GA		10/16/01		4,775,000		3,913,262		861,738			10.1	%		482,141			107,220		100	%		1989
River Run Centre		S	Coshocton, OH		10/16/01		3,245,000		3,449,972		(204,972	)		11.8	%		381,825			82,957		100	%		1992
Land, adjacent to Picadilly Square		L	Louisville, KY		11/08/01		82,806		17,330		65,476			—			—		.11 acre			—			—
Lucky stores		T	Dubuque, IA		11/20/01		2,000,000		1,952,507		47,493			10.8	%		215,836			35,015		100	%		1982
Stillwater Office Bldg		M	Stillwater, MN		11/20/01		490,000		469,916		20,084			10.7	%		52,525			9,095		100	%		1985
Lucky stores		T	Springfield, IL		11/29/01		1,150,000		1,182,684		(32,684	)		10.8	%		123,835			30,000		100	%		1982
Lucky stores		T	Sterling, IL		11/29/01		1,550,000		1,584,860		(34,860	)		10.6	%		164,721			40,265		100	%		1980
Land, adjacent to Factory Outlet Village Osage Beach		L	Osage Beach, MO		12/07/01		1,487,000		1,242,471		244,529			—			—		27 acres			—			—
Kmart		T	Desoto, TX		12/12/01		2,410,000		2,629,401		(219,401	)		10.4	%		249,968			72,897		100	%		1980
King City Square		S	Mount Vernon, IL		12/14/01		6,950,000		6,984,218		(34,218	)		10.0	%		693,385			94,428		95	%		1994
Houston I		T	Houston, TX		12/20/01		82,500		355,384		(272,884	)		—			(4,387	)		1,675		0	%		1991
The Omelette Shop		T	Houston, TX		12/20/01		82,500		283,433		(200,933	)		—			(3,898	)		1,675		0	%		1991
Total						$	26,886,806	$	25,959,512	$	927,294			—		$	2,590,897			550,733
2001 Total Portfolio and Property Dispositions						$	429,838,828	$	426,358,495	$	3,110,333			—		$	40,433,767			1,136,369

(1)	A — Apartments, L — Land, M — Miscellaneous Property, O — Outparcel, S — Shopping Center, T — Single Tenant Property
(2)	Projected recurring property NOI as of closing date of sale.
(3)	As of closing date of sale.
(4)	Cap-rate is based on 2001 pro forma NOI after management fees and $250 per unit for reserves for replacements. The total gain on the sale is approximately $19 million. Approximately $1.5 million of the gain was recognized in the third quarter, with the balance included in book value and to be recognized as a function of the reduction of the Company’s exposure under the letter of credit, which should be no later than the third quarter of 2005.
(5)	Additional expenses associated with the sale of the property on October 17, 2000.
(6)	Sale of Kroger at below market price was in conjunction with BI-LO’s consent to remove a lease restriction at Congress Crossing in Athens, TN for the outparcel sale to Walgreens.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

2001 Redevelopment / Outparcel Development Activities page 16

													Construction
								Adjusted												Expected		Expected
			Year		Year			GLA/		Percent			Expected		Expected		Percent			Total		Stabilized
		Location	Built		Acquired		Project Description	Units		Leased (1)			Start Date		Completion Date		Complete			Project Cost		Return on Cost
Redevelopment Activities
Arapahoe Crossings (2) (3)		Aurora, CO		1996		2001	Final phase of development		460,000		100	%	Jun-96		Nov-02			93	%		—		—
Eastgate Shopping Center		Louisville, KY		1987		1993	Expansion of Kroger by 17,548 sq. ft		154,513		98	%	May-01		Mar-02			70	%	$	0		—
Hampton Square		Southampton, PA		1980		1998	Addition of a 37,268 sq. ft. McCaffrey's in existing space		62,933		99	%	Jul-01		Apr-02			70	%		1,200,000		27.3	%
Southfield Shopping Center		Southfield, MI		1970		1998	Façade renovation		106,948		95	%	Oct-01		Jan-02			80	%		736,800		12.0	%
Central Avenue Marketplace		Toledo, OH		1968		1990	Construction of a new 54,000 sq. ft. Farmer Jack		197,454		98	%	Oct-01		Oct-02			10	%		4,000,000		16.8	%
Island Plaza		James Island, SC		1994		1997	Expansion of Food Lion by 9,000 sq. ft		171,935		95	%	Oct-01		Nov-02			20	%		1,120,000		13.5	%
Bennetts Mills Plaza		Jackson, NJ		1988		1994	Expansion of Stop & Shop by 25,000 sq. ft. and façade renovation		132,020		100	%	Dec-01		Nov-02			10	%		620,000		12.0	%
Fashion Corner (3)		Saginaw, MI		1986		1995	Phase II addition of Bed, Bath & Beyond and complete renovation of the shopping center		188,877		69	%	Jan-02		Sep-02			0	%		2,035,000		12.4	%
Delhi (3)		Cincinnati, OH		1973		1996	Façade renovation		166,317		96	%	Jan-02		Sep-02			0	%		547,000		12.0	%
Dover Park Plaza (3)		Yardville, NJ		1966		2000	Addition of a new 12,000 sq. ft. CVS and façade renovation		59,642		100	%	Feb-02		Nov-02			0	%		528,000		12.0	%
Dillsburg Shopping Center		Dillsburg, PA		1994		1996	Construction of a new 55,000 sq. ft. Giant and 20,000 sq. ft. of retail shops		152,833		100	%	Feb-02		Nov-02			0	%		8,000,000		12.0	%
Stein Mart Center		Poway, CA		1981		2001	Redevelopment of shopping center		—		69	%		—		—		0	%		—		—
Clearwater Mall (4)		Clearwater, FL		1973		1997	Redevelopment of enclosed regional mall		—		24	%		—		—		0	%		—		—
The Mall at 163rd Street		Miami, FL		1956		1998	Redevelopment of enclosed regional mall; contingent contract entered into with Wal-Mart		—		36	%		—		—		0	%		—		—
	Total																			$	18,786,800
Outparcel Development Activities
Greeneville Commons		Greeneville, TN		1990		1992	Construction of a 5,500 sq. ft. tenant space leased to Hibbett Sports		228,618		98	%	Sep-01		Mar-02			70	%	$	548,000		14.0	%
Completed 2001 Redevelopment / Outparcel Development Activities
Fruitland Plaza		Fruitland, MD		1973		1986	Conversion of a single tenant space into a shopping center anchored by a 40,000 sq. ft. Food Lion		104,095		58	%	Apr-99		Jun-01			100	%	$	3,100,000		13.3	%
Middletown Plaza		Middletown, NJ		1972		1975	Construction of a new 77,000 sq. ft. ShopRite and façade replacement		198,069		78	%	Jun-00		Dec-01			100	%		10,000,000		14.1	%
Maple Village		Ann Arbor, MI		1965		1994	Construction of a 7,200 sq. ft. multiple tenant space on outparcel of which 5,000 sq. ft. is leased to Blockbuster and 2,200 sq. ft. is leased to Verizon		288,046		98	%	Sep-00		Oct-01			100	%		900,000		14.2	%
Kinston Pointe		Kinston, NC		1991		1995	Sale of 3.7 acre pad for $775,385 to Wal-Mart Stores for store expansion, re-tenanting of 25,000 sq. ft		250,581		88	%	Nov-00		Sep-01			100	%		0		—
Delta Center		Lansing, MI		1985		1995	Construction of a new 54,000 sq. ft. Farmer Jack		186,246		99	%	Dec-00		Nov-01			100	%		4,450,000		16.0	%
Fashion Corner		Saginaw, MI		1986		1995	Expansion of Best Buy by 9,000 sq. ft. and façade renovation		188,877		69	%	Apr-01		Sep-01			100	%		1,600,000		12.0	%
Northside Plaza		Dalton, GA		1990		1995	Expansion of BI-LO by 12,000 sq. ft		73,932		99	%	May-01		Dec-01			100	%		364,000		24.5	%
Lake Drive Plaza		Vinton, VA		1976		1998	Conversion of 12,000 sq. ft. to retail space and façade renovation		148,061		100	%	Jun-01		Sep-01			100	%		514,000		14.0	%

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

2001 Redevelopment / Outparcel Development Activities page 17

													Construction
								Adjusted										Expected		Expected
			Year		Year			GLA/		Percent			Expected	Expected	Percent			Total		Stabilized
		Location	Built		Acquired		Project Description	Units		Leased (1)			Start Date	Completion Date	Complete			Project Cost		Return on Cost
Elmira Plaza		Elmira, NY		1976		1989	Conversion of a single tenant space into a shopping center anchored by a 34,000 sq. ft. Big Lots		50,803		89	%	Jun-01	Nov-01		100	%		1,000,000		13.5	%
New Garden		Kennett Square, PA		1979		1997	Addition of a 43,000 sq. ft. Big Lots; enhanced façade and lighting		149,270		96	%	Aug-01	Nov-01		100	%		800,000		13.0	%
	Total																	$	22,728,000
	TOTAL 2001 REDEVELOPMENT / OUTPARCEL DEVELOPMENT ACTIVITIES																	$	42,062,800

(1)	Includes all leases in force at December 31, 2001, including those that are fully executed, but not yet open, and is based on current GLA, not adjusted GLA.
(2)	Final phase of development is expected to cost $7.1 million during 2002.
(3)	Indicates project added during 4Q 2001.
(4)	Property to be contributed to a joint venture upon satisfaction of certain contingencies including obtaining all developmental approvals and a construction loan. Final redevelopment plan in formulation process.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Type Summary page 18

										ABR					Quarterly NOI
												Percent of					Percent of
	# of				Percent			Leased				Company					Company
	Properties		GLA		Leased			GLA		Amount		ABR			Amount		NOI
Stabilized Properties
Community and Neighborhood Shopping Centers		201		30,010,060		91	%		27,185,193	$	202,839,966		75.4	%	$	45,894,751		76.0	%
Factory Outlet Centers		6		1,845,754		87	%		1,601,487		25,777,284		9.6	%		6,424,835		10.6	%
Single Tenant Properties		39		1,003,488		90	%		903,632		5,957,473		2.2	%		1,633,195		2.7	%
Enclosed Malls / Specialty Retail Properties		3		1,393,943		77	%		1,078,587		15,064,367		5.6	%		2,655,788		4.4	%
Miscellaneous Properties		7		135,078		97	%		131,472		1,445,322		0.5	%		141,131		0.2	%
		256		34,388,323		90	%		30,900,371	$	251,084,410		93.4	%	$	56,749,700		94.0	%
Redevelopment Properties
Community and Neighborhood Shopping Centers		12		1,789,314		92	%		1,648,623	$	15,300,481		5.7	%	$	3,294,791		5.5	%
Enclosed Malls / Specialty Retail Properties		2		1,701,177		30	%		508,602		2,531,362		0.9	%		311,868		0.5	%
		14		3,490,491		62	%		2,157,225	$	17,831,842		6.6	%	$	3,606,658		6.0	%
TOTAL PORTFOLIO		270		37,878,814		87	%		33,057,596	$	268,916,253		100.0	%	$	60,356,358		100.0	%

COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS ANCHOR, NON-ANCHOR TENANT MIX: (1)

								ABR
			Percent of							Percent of
	Leased		Shopping Centers							Shopping Centers
	GLA		Leased GLA			Amount		Per Foot		ABR
Anchor Tenants		16,089,680		55.8	%	$	91,783,813	$	5.70		42.1	%
Non-anchor Tenants		12,744,136		44.2	%		126,356,634		9.91		57.9	%
		28,833,816		100.0	%	$	218,140,447	$	7.57		100.0	%

(1)  Anchor tenants are defined on a property by property basis.
The above does not purport to disclose all items required under GAAP.
The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Properties by State / Region page 19

								Percent of
	Number of		Percent					Scheduled
State	Properties		Leased			GLA		ABR
Alabama		7		91	%		760,014		1.6	%
Arizona		11		85	%		1,083,503		3.1	%
Arkansas		1		100	%		60,842		0.1	%
California		17		91	%		2,593,270		9.5	%
Colorado		3		91	%		778,069		3.4	%
Delaware		2		77	%		243,686		0.3	%
Florida		19		70	%		4,848,016		12.7	%
Georgia		31		92	%		2,920,628		6.6	%
Illinois		7		93	%		1,063,858		3.5	%
Indiana		13		71	%		886,530		1.5	%
Iowa		3		81	%		542,458		0.9	%
Kentucky		9		88	%		1,456,230		3.2	%
Louisiana		2		90	%		261,518		0.4	%
Maryland		3		78	%		383,031		0.9	%
Michigan		13		93	%		2,134,690		6.3	%
Minnesota		1		94	%		62,518		0.3	%
Missouri		3		88	%		722,577		3.7	%
Nebraska		2		100	%		9,671		0.1	%
Nevada		3		97	%		587,388		1.9	%
New Jersey		9		94	%		1,212,395		5.0	%
New York		23		91	%		3,273,569		7.4	%
North Carolina		14		94	%		1,752,044		3.7	%
Ohio		19		85	%		2,970,671		6.0	%
Oklahoma		1		100	%		45,510		0.1	%
Pennsylvania		14		87	%		2,039,529		5.2	%
South Carolina		4		95	%		338,422		1.0	%
Tennessee		15		96	%		1,867,002		4.5	%
Texas		4		98	%		424,739		1.4	%
Utah		3		94	%		600,602		1.4	%
Virginia		11		88	%		1,600,895		3.6	%
West Virginia		3		83	%		354,939		0.7	%
		270		87	%		37,878,814		100	%
Region
East		92		90	%		12,654,740		31.0	%
Midwest		61		87	%		8,392,973		22.3	%
South		80		83	%		11,188,269		27.4	%
West		37		91	%		5,642,832		19.4	%
		270		87	%		37,878,814		100	%

The above does not purport to disclose all items required under GAAP.
The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Same Property NOI Analysis	page 20
(In thousands, except property statistics)

		Three Months Ended									Three Months Ended									Three Months Ended (2)									Three Months Ended (2)
								Percent									Percent									Percent									Percent
		12/31/01			12/31/00			Change			09/30/01			09/30/00			Change			06/30/01			06/30/00			Change			03/31/01			03/31/00			Change
Analysis Specific Property Statistics:
Number of properties included in analysis			243			243						258			258						266			266						272			272
Gross leasable area			32,368,248			32,367,797						32,990,965			32,916,693						33,292,530			33,095,037						34,055,602			34,042,000
Percent leased			91.0	%		92.2	%		-1.2	%		91.4	%		92.7	%		-1.3	%		91.1	%		93.0	%		-1.9	%		90.6	%		92.3	%		-1.7	%
Termination Fees: (1)		$	49		$	492					$	261		$	121					$	248		$	68					$	89		$	394
Property revenues		$	79,973		$	81,142			-1.4	%	$	77,962		$	78,369			-0.5	%	$	78,459		$	77,657			1.0	%	$	79,335		$	78,047			1.7	%
Property operating expenses			26,042			25,424			2.4	%		21,519			22,435			-4.1	%		21,645			21,326			1.5	%		20,021			19,937			0.4	%
	SAME PROPERTY NOI (GAAP BASIS)	$	53,931		$	55,718			-3.2	%	$	56,443		$	55,934			0.9	%	$	56,814		$	56,331			0.9	%	$	59,314		$	58,110			2.1	%
Operating margin (GAAP basis)			67.4	%		68.7	%		-1.2	%		72.4	%		71.4	%		1.0	%		72.4	%		72.5	%		-0.1	%		74.8	%		74.5	%		0.3	%
Straight-line rent adjustment			859			532			61.5	%		262			596			-56.0	%		706			750			-5.9	%		(102	)		664			-115.4	%
	SAME PROPERTY NOI	$	53,072		$	55,186			-3.8	%	$	56,181		$	55,338			1.5	%	$	56,108		$	55,581			0.9	%	$	59,416		$	57,446			3.4	%
Operating margin			66.4	%		68.0	%		-1.6	%		72.1	%		70.6	%		1.4	%		71.5	%		71.6	%		-0.1	%		74.9	%		73.6	%		1.3	%

		Twelve Months Ended
								Percent
		12/31/01			12/31/00			Change
Analysis Specific Property Statistics:
Number of properties included in analysis			242			242
Gross leasable area			32,220,187			32,219,736
Percent leased			90.9	%		92.2	%		-1.3	%
Termination Fees: (1)		$	999		$	1,073
Property revenues		$	314,242		$	314,275			0.0	%
Property operating expenses			93,000			94,365			-1.4	%
	SAME PROPERTY NOI (GAAP BASIS)	$	221,242		$	219,910			0.6	%
Operating margin (GAAP basis)			70.4	%		70.0	%		0.4	%
Straight-line rent adjustment			1,687			2,632			-35.9	%
	SAME PROPERTY NOI	$	219,555		$	217,278			1.0	%
Operating margin			69.9	%		69.1	%		0.7	%

(1)	Excluded from Property revenues.
(2)	Does not reflect consolidation of ERT Development Corporation (ERT).

NOI is defined as Property revenues less Property operating expenses, excluding depreciation and amortization and interest expense. Same store excludes properties that have or are undergoing redevelopment and includes only properties owned for the full quarters.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Top Ten Tenants page 21

								ABR as a
		Number of						Percentage of Total
Tenant		Leases		GLA		ABR		Portfolio ABR
	1 Kmart Corporation		40		3,696,572	$	16,757,946		6.2	%
	2 Wal-Mart Stores		26		2,907,714		12,290,302		4.6	%
	3 The Kroger Co. (1)		25		1,254,982		8,251,591		3.1	%
	4 Winn-Dixie Stores		17		781,836		4,977,053		1.9	%
	5 Ahold USA (2)		12		589,207		4,455,623		1.7	%
	6 The TJX Companies (3)		19		598,938		3,839,438		1.4	%
	7 Delhaize America (4)		16		490,997		3,221,585		1.2	%
	8 Publix Super Markets		8		423,388		2,500,903		0.9	%
	9 Albertson’s (5)		16		573,907		2,458,557		0.9	%
10 J.C. Penney Company (6)			22		523,769		2,214,444		0.8	%
			201		11,841,310	$	60,967,444		22.7	%

(1)  Includes City Market, Dillon, Food 4 Less, Fred Meyer, Fry’s, King Soopers, Kroger, Quality Food Centers, Ralphs and Smith’s.
(2)  Includes BI-LO, Bruno’s, Giant, Stop & Shop and Tops Market.
(3)  Includes T.J. Maxx and Marshalls.
(4)  Includes Food Lion, Hannaford Bros and Kash n’ Karry.
(5)  Includes Acme Markets, Albertson’s, Jewel, Osco Drug and Sav-on.
(6)  Includes JCPenney and Eckerd Drugstores.
The above does not purport to disclose all items required under GAAP.
The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

New Lease Summary	page 22
NEW LEASE SUMMARY

									Tenant
							Total New		Improvements		Leasing
			Number		GLA		ABR		Committed		Commissions
1Q 2001 (1)				67		257,236	$	2,685,530	$	531,431	$	77,500
		psf						10.44		2.07		0.30
2Q 2001 (1)				82		239,657	$	2,613,908	$	688,238	$	136,584
		psf						10.91		2.87		0.57
	3Q 2001			98		374,210	$	3,661,874	$	2,307,253	$	148,630
		psf						9.79		6.17		0.40
	4Q 2001			89		564,136	$	3,602,379	$	1,477,722	$	341,206
		psf						6.39		2.62		0.60
2001 Total				336		1,435,239	$	12,563,691	$	5,004,644	$	703,920
								8.75		3.49		0.49

RENEWAL LEASE SUMMARY

						Total Former		Total New		Increase/(Decrease)
		Number		GLA		ABR		ABR		Total Dollar		Percent
1Q 2001 (1)			136		755,421	$	5,747,616	$	6,473,631	$	726,015		12.6	%
	psf						7.61		8.57		0.96
2Q 2001 (1)			97		308,929	$	2,541,635	$	2,857,706	$	316,071		12.4	%
	psf						8.23		9.25		1.02
	3Q 2001		92		348,961	$	3,207,379	$	3,367,996	$	160,617		5.0	%
	psf						9.19		9.65		0.46
	4Q 2001		75		300,437	$	2,802,192	$	2,879,264	$	77,072		2.8	%
	psf						9.33		9.58		0.26
2001 Total			400		1,713,748	$	14,298,822	$	15,578,597	$	1,279,775		9.0	%
							8.34		9.09		0.75

(1)  Does not reflect consolidation of ERT Development Corporation (ERT).
Renewal leases include expiring leases renewed with the same tenant and the exercise of options. All other leases are categorized as new.
Data includes all leases in force at December 31, 2001, September 30, 2001, June 30, 2001 and March 31, 2001, including those that are fully executed, but not yet open.
The above does not purport to disclose all items required under GAAP.
The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Lease Expiration Schedule page 23

		Number of		Leased		Percent of			ABR		Percent of
		Leases Expiring		GLA		GLA			Per Foot		Total ABR
	2002		1064		3,735,045		11.30	%	$	8.63		11.98	%
	2003		696		3,428,458		10.37	%		8.36		10.66	%
	2004		628		2,628,559		7.95	%		10.01		9.78	%
	2005		421		3,366,442		10.18	%		7.39		9.25	%
	2006		459		3,023,679		9.15	%		8.60		9.67	%
	2007		186		1,744,794		5.28	%		8.65		5.61	%
	2008		101		1,116,027		3.38	%		8.70		3.61	%
	2009		83		1,689,346		5.11	%		7.09		4.45	%
	2010		92		2,049,075		6.20	%		6.84		5.21	%
	2011		82		1,635,788		4.95	%		7.98		4.85	%
2012+			234		8,640,383		26.14	%		7.76		24.92	%
			4,046		33,057,596		100.0	%	$	8.13		100.0	%

Does not assume exercise of renewal options or base rent escalations over lease term.
The above does not purport to disclose all items required under GAAP.
The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 24

			Year		Date				Percent
Property Name	City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
Stabilized Properties
Community and Neighborhood Shopping Centers
1 Cloverdale Village	Florence	AL		1986		10/27/94		59,407		100	%	$	379,423	Winn-Dixie Stores
2 Riverview Plaza	Gadsden	AL		1990		10/12/95		147,621		100	%		920,535	Wal-Mart
3 Grants Mill Station	Irondale	AL		1991		07/01/98		226,837		70	%		997,345	Wal-Mart
4 Payton Park	Sylacauga	AL		1995		07/01/98		231,820		100	%		1,420,734	Wal-Mart
5 Glendale Galleria	Glendale	AZ		1991		08/01/97		119,465		98	%		1,250,748	Food 4 Less, Osco Drugs
6 Kmart Plaza	Mesa	AZ		1970		12/28/90		182,933		89	%		595,343	Kmart
7 Southern Village Mesa	Mesa	AZ		1987		08/01/97		84,054		86	%		592,845	Food City
8 Sun Valley Plaza	Mesa	AZ		1981		05/31/94		107,405		42	%		402,696	—
9 Metro Marketplace	Phoenix	AZ		1988		06/21/91		252,575		79	%		1,980,113	Office Max, Toys R' Us
10 Northmall Centre	Tucson	AZ		1996		12/31/96		168,719		90	%		1,357,172	Comp USA, JC Penney, Stein Mart
11 Bakersfield Plaza	Bakersfield	CA		1970		06/20/97		213,166		81	%		1,658,429	—	Mervyn's
12 Sony/Kinko	Burbank	CA		1988		05/01/89		14,176		100	%		404,363	Kinko's, Sony Electronics
13 Carmen Plaza	Camarillo	CA		1971		06/20/97		129,255		92	%		1,117,937	—	Miller's Outpost
14 Coachella Plaza	Coachella	CA		1991		06/20/97		11,184		100	%		183,616	—	Vons
15 Cudahy Plaza	Cudahy	CA		1968		06/20/97		138,431		100	%		667,793	Kmart
16 Arbor Faire	Fresno	CA		1993		04/09/97		199,986		92	%		1,833,242	Home Depot, PetsMart, Smart & Final	Mervyn's
17 Broadway Faire	Fresno	CA		1995		04/09/97		60,383		96	%		1,011,108	United Artists
18 Briggsmore Plaza	Modesto	CA		1974		06/20/97		98,945		99	%		673,592	Grocery Outlet
19 Montebello Plaza	Montebello	CA		1974		06/20/97		288,290		95	%		2,401,656	Albertson's, Circuit City
20 Paradise Plaza	Paradise	CA		1979		06/20/97		198,562		98	%		673,275	Albertson's, Kmart
21 Metro 580	Pleasanton	CA		1996		09/15/97		174,584		100	%		2,540,137	Borders, Linens N Things
22 Rose Pavilion	Pleasanton	CA		1987		02/27/98		292,848		79	%		3,677,749	Levitz Furniture, Macy's Home Store
23 San Dimas Plaza	San Dimas	CA		1986		10/07/97		119,161		100	%		1,672,992	T.J. Maxx	Payless Drugs, Ralph's
24 Bristol Plaza	Santa Ana	CA		1972		06/20/97		112,379		98	%		1,106,500	—
25 Vail Ranch Center	Temecula	CA		1997		12/31/97		99,205		100	%		1,041,390	Stater Bros.
26 Westminster City Center	Westminster	CO		1996		12/16/97		339,601		84	%		3,769,234	Babies R Us, Circuit City
27 Rodney Village	Dover	DE		1959		01/01/69		213,686		74	%		722,299	Farm Fresh
28 Brooksville Square	Brooksville	FL		1987		03/28/94, 06/17/97		191,207		93	%		1,211,470	Kmart, Publix
29 Northgate S.C	DeLand	FL		1993		06/30/93		186,396		100	%		1,280,451	Kmart, Publix
30 Regency Park	Jacksonville	FL		1985		06/16/97		329,398		92	%		2,480,562	Babies R Us, Marshalls, Rhodes Furniture
31 Eastgate S.C	Lake Wales	FL		1994		05/20/94		102,161		100	%		599,203	Kmart	Winn-Dixie Stores
32 Leesburg Square	Leesburg	FL		1986		12/23/92		91,682		94	%		693,651	Publix
33 Miami Gardens	Miami	FL		1996		10/06/97		244,719		100	%		2,280,642	Kmart, Winn-Dixie Stores
34 Freedom Square	Naples	FL		1995		10/06/97		211,839		99	%		1,683,732	Kmart, Publix
35 Southgate	New Port Richey	FL		1966		08/27/97		262,911		76	%		790,997	Publix
36 Presidential Plaza	North Lauderdale	FL		1977		04/18/97		88,304		91	%		619,496	Winn-Dixie Stores
37 Colonial Marketplace	Orlando	FL		1986		04/01/98		128,823		99	%		995,184	Office Max, Service Merchandise	Target
38 23rd Street Station	Panama City	FL		1986		07/01/98		98,827		100	%		997,695	Publix
39 Riverwood	Port Orange	FL		1990		09/05/97		93,506		100	%		481,769	Winn-Dixie Stores
40 Seminole Plaza	Seminole	FL		1964		06/11/98		144,011		96	%		739,788	Burlington Coat
41 Rutland Plaza	St. Petersburg	FL		1964		11/01/96		149,812		91	%		974,595	Winn-Dixie Stores
42 Albany Plaza	Albany	GA		1968		05/12/94		114,169		82	%		576,578	Food Lion
43 Southgate Plaza	Albany	GA		1969		07/11/90		59,816		100	%		346,953	—
44 Eastgate Plaza	Americus	GA		1980		07/11/90		44,365		100	%		141,153	Beall's Outlet
45 Perlis Plaza	Americus	GA		1972		07/11/90		165,615		96	%		891,822	Belk's, Bruno's
46 Sweetwater Village	Austell	GA		1985		10/27/94		66,197		98	%		463,400	Winn-Dixie Stores
47 Cedar Plaza	Cedartown	GA		1994		10/27/94		83,300		100	%		566,522	The Kroger Co.
48 Cordele Square	Cordele	GA		1968		07/11/90		128,927		95	%		567,024	Belk's, Harvey Foods
49 Southgate Plaza	Cordele	GA		1969		07/11/90		39,292		51	%		60,097	Fred's Dollar Store
50 Habersham Crossing	Cornelia	GA		1990		03/01/96		161,278		93	%		731,917	Wal-Mart

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 25

			Year		Date				Percent
Property Name	City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
51 Habersham Village	Cornelia	GA		1985		05/06/92		147,182		97	%		712,874	Kmart, Winn-Dixie Stores
52 Covington Gallery	Covington	GA		1991		12/30/93		174,857		94	%		1,051,229	Ingles, Kmart
53 Market Central	Dalton	GA		1994		03/31/97		34,000		95	%		367,087	—	Wal-Mart
54 Northside Plaza	Dalton	GA		1990		10/11/95		73,932		99	%		531,323	BI-LO
55 Midway Village	Douglasville	GA		1989		05/01/97		73,328		96	%		499,246	Winn-Dixie Stores
56 Westgate	Dublin	GA		1974		07/11/90		184,006		85	%		701,239	Bruno's, Big Lots
57 Marshalls at Eastlake	Marietta	GA		1982		10/26/98		55,199		80	%		355,005	Marshalls
58 New Chastain Corners	Marietta	GA		1990		07/17/97		108,380		96	%		1,072,440	The Kroger Co.
59 Pavilions at Eastlake	Marietta	GA		1986		03/01/99		159,088		91	%		1,523,308	The Kroger Co.
60 Village at Southlake	Morrow	GA		1983		04/13/98		53,384		98	%		449,088	Marshalls
61 Perry Marketplace	Perry	GA		1992		12/30/92		179,973		100	%		1,233,979	Kmart, The Kroger Co.
62 Creekwood Shopping Center	Rex	GA		1990		05/01/97		69,778		100	%		577,261	Winn-Dixie Stores
63 Shops of Riverdale	Riverdale	GA		1995		02/15/96		34,255		80	%		287,252	—	Wal-Mart
64 Eisenhower Square	Savannah	GA		1985		07/16/97		125,120		98	%		822,458	Food Lion
65 Victory Square	Savannah	GA		1986		07/02/92		168,514		67	%		841,832	Food Lion, Scotty's
66 Wisteria Village Shopping    Center	Snellville	GA		1985		10/11/95		164,646		96	%		1,039,909	Kmart
67 University Commons	Statesboro	GA		1994		07/24/96		59,814		99	%		539,489	—
68 Tift-Town	Tifton	GA		1965		07/11/90		58,818		79	%		183,698	Beall's Outlet
69 Westgate	Tifton	GA		1980		07/11/90		16,307		100	%		136,308	—
70 Haymarket Mall	Des Moines	IA		1979		05/12/95		235,615		97	%		1,073,361	Burlington Coat Factory, Hobby Lobby
71 Haymarket Square	Des Moines	IA		1979		05/12/95		266,525		65	%		1,117,613	Dahl's Foods
72 Southfield Plaza	Bridgeview	IL		1958		12/03/96		199,947		91	%		1,741,574	Dominicks Foods, Hobby Lobby, Walgreens
73 Westridge Court	Naperville	IL		1990		07/18/97		446,183		97	%		5,218,354	Cub Foods, Linen N Things, Old Navy, Spiegel
74 Tinley Park Plaza	Tinley Park	IL		1973		09/20/95		283,470		96	%		1,827,417	Walts Finer Foods
75 Columbus Center	Columbus	IN		1964		12/01/88		270,227		41	%		916,120	Office Max
76 Jasper Manor	Jasper	IN		1990		02/18/92		194,120		80	%		784,843	Kmart
77 Valley View Plaza	Marion	IN		1989		03/28/94		29,974		100	%		302,881	—	Wal-Mart
78 Town Fair	Princeton	IN		1991		02/09/93		113,940		100	%		580,149	Kmart
79 Wabash Crossing	Wabash	IN		1988		12/16/93		166,993		100	%		973,713	Kmart, Supervalu
80 Woodland Plaza	Warsaw	IN		1989		03/28/94		31,008		100	%		283,404	—	Wal-Mart
81 Green River Plaza	Campbellsville	KY		1989		03/08/96		190,316		99	%		997,128	Goody's Family Clothing, Kroger
82 Kmart Plaza	Elizabethtown	KY		1992		02/04/93		130,466		98	%		777,450	Kmart
83 Highland Commons	Glasgow	KY		1992		03/31/93		130,466		100	%		752,749	Food Lion, Kmart
84 J*Town Center	Jeffersontown	KY		1959		10/21/88		186,855		28	%		413,677	—
85 Mist Lake Plaza	Lexington	KY		1993		07/01/98		217,292		95	%		1,547,522	Wal-Mart
86 London Marketplace	London	KY		1994		03/17/94		169,032		100	%		1,062,099	Kmart, The Kroger Co.
87 Picadilly Square	Louisville	KY		1973		04/25/89		96,370		80	%		317,722	—
88 Lexington Road Plaza	Versailles	KY		1994		04/28/94		182,578		100	%		1,251,469	Kmart, The Kroger Co.
89 Lagniappe Village	New Iberia	LA		1990		07/01/98		220,225		88	%		946,765	Big Lots
90 Fruitland Plaza	Fruitland	MD		1973		05/14/86		104,095		58	%		475,250	Food Lion
91 Liberty Plaza	Randallstown	MD		1962		05/12/95		215,575		83	%		1,463,911	—
92 Rising Sun Towne Centre	Rising Sun	MD		1998		06/04/99		63,361		94	%		574,480	Martin's
93 Maple Village	Ann Arbor	MI		1965		10/14/94		288,046		98	%		1,503,494	Kmart
94 Farmington Crossroads	Farmington	MI		1986		12/11/95		84,310		93	%		618,268	Farmer Jack
95 Delta Center	Lansing	MI		1985		12/12/95		186,246		99	%		1,884,115	Farmer Jack, T.J. Maxx, Toys R Us
96 Hampton Village Centre	Rochester Hills	MI		1990		12/12/95		460,219		96	%		4,503,490	Farmer Jack, Kohl's	Target
97 Hall Road Crossing	Shelby Township	MI		1985		12/12/95		175,763		93	%		1,661,450	Old Navy, T.J. Maxx
98 Delco Plaza	Sterling Heights	MI		1973		11/14/96		154,853		100	%		782,874	Babies R Us, Bed, Bath & Beyond
99 Westland Crossing	Westland	MI		1986		11/16/99		141,738		70	%		1,126,576	Michaels	Toys R' Us
100 Roundtree Place	Ypsilanti	MI		1992		07/01/98		195,413		98	%		1,252,621	Busch Grocery, Wal-Mart
101 Washtenaw Fountain Plaza	Ypsilanti	MI		1989		10/05/92		136,103		97	%		949,651	—
102 Stanly County Plaza	Albermarle	NC		1988		03/28/94		63,637		95	%		412,418	Ingles	Wal-Mart
103 Village Marketplace	Asheboro	NC		1988		04/13/95		87,870		81	%		573,365	Harris Teeter	Wal-Mart

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 26

			Year		Date				Percent
Property Name	City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
104 Foothills Market	Jonesville	NC		1988		06/05/95		49,630		92	%		272,671	Food Lion
105 Chapel Square	Kannapolis	NC		1992		12/01/94		45,450		100	%		362,300	Food Lion	Wal-Mart
106 Kinston Pointe	Kinston	NC		1991		07/05/95		250,581		88	%		662,189	Wal-Mart
107 Granville Corners	Oxford	NC		1991		02/21/96		138,352		98	%		975,404	Lowe's Food, Wal-Mart
108 Roxboro Square	Roxboro	NC		1989		06/05/95		98,980		98	%		632,358	Wal-Mart
109 Siler Crossing	Siler City	NC		1988		06/05/95		132,640		96	%		739,800	Belk-Yates
110 Crossroads Center	Statesville	NC		1991		02/27/96		340,190		99	%		2,051,669	Wal-Mart
111 Thomasville Crossing	Thomasville	NC		1996		04/18/97		78,509		98	%		640,101	Lowe's Food
112 Anson Station	Wadesboro	NC		1988		08/23/95		132,353		96	%		725,629	Food Lion, Wal-Mart
113 Roanoke Landing	Williamston	NC		1991		01/02/96		156,562		100	%		1,022,721	Wal-Mart, Winn-Dixie Stores	Belk's
114 Wilson Shopping Center	Wilson	NC		1973		05/14/86		104,982		76	%		39,678	Wilson Flea Market
115 Stratford Commons	Winston-Salem	NC		1995		12/30/96		72,308		100	%		921,508	Michaels, Office Max
116 Laurel Square	Brick	NJ		1973		07/13/92		246,235		100	%		1,890,576	Kmart, Pathmark
117 Hamilton Plaza-Kmart Plaza	Hamilton	NJ		1972		05/12/94		149,060		100	%		813,819	Kmart
118 Middletown Plaza	Middletown	NJ		1972		01/01/75		198,069		78	%		2,118,738	ShopRite
119 Tinton Falls Plaza	Tinton Falls	NJ		1953		01/30/98		100,582		92	%		859,485	Burlington Coat Factory	Great A&P Tea Company
120 Galleria Commons	Henderson	NV		1998		06/09/98		276,460		99	%		2,554,191	Babies R Us, Comp USA, House 2 Home, Stein Mart, T.J. Maxx
121 Renaissance Center East	Las Vegas	NV		1981		10/17/96		145,578		94	%		1,640,229	Albertson's
122 Kietzke Center	Reno	NV		1974		06/20/97		165,350		97	%		1,000,309	Mervyn's
123 University Mall	Canton	NY		1967		01/01/76		78,740		75	%		234,974	Ames Department Stores
124 Cortlandville	Cortland	NY		1984		08/04/87		100,300		95	%		240,419	Ames Department Stores
125 Kmart Plaza	De Witt	NY		1970		08/03/93		115,500		100	%		588,975	Kmart, Office Max
126 D & F Plaza	Dunkirk	NY		1967		01/01/86		190,518		84	%		817,248	Quality Markets
127 Elmira Plaza	Elmira	NY		1976		02/13/89		50,803		89	%		135,728	Big Lots
128 Genesee Valley Shopping    Center	Geneseo	NY		1993		07/01/98		204,609		100	%		1,444,442	Wal-Mart, Wegmans
129 Pyramid Mall	Geneva	NY		1973		08/03/93		239,500		97	%		1,236,339	Kmart, Tops Market, Big Lots
130 McKinley Plaza	Hamburg	NY		1991		06/14/92		92,795		93	%		834,865	Kids R Us, T.J. Maxx
131 Hornell Plaza	Hornell	NY		1995		07/31/98		253,703		98	%		1,758,152	Wal-Mart, Wegmans
132 Cayuga Mall	Ithaca	NY		1969		05/12/89		205,426		98	%		1,127,938	Penn Traffic
133 Shops at Seneca Mall	Liverpool	NY		1971		08/03/93		237,203		82	%		1,145,770	Kmart, Price Chopper
134 Transit Road Plaza	Lockport	NY		1971		08/03/93		138,120		100	%		361,208	Kmart
135 Wallkill Plaza	Middletown	NY		1986		12/12/95		203,234		95	%		1,672,865	ShopRite
136 Monroe ShopRite Plaza	Monroe	NY		1972		08/01/97		122,394		96	%		1,233,737	ShopRite
137 Rockland Plaza	Nanuet	NY		1963		01/01/83		247,957		99	%		4,271,767	Barnes & Noble, Marshalls, Tower Records
138 South Plaza	Norwich	NY		1967		04/01/83		143,665		78	%		321,650	Ames Department Stores
139 Westgate Plaza	Oneonta	NY		1967		01/20/84		71,952		97	%		208,280	Ames Department Stores
140 Oswego Plaza	Oswego	NY		1966		01/01/77		128,087		97	%		572,159	JC Penney
141 Mohawk Acres	Rome	NY		1965		01/20/84, 02/01/84		182,183		75	%		491,133	—
142 Price Chopper Plaza	Rome	NY		1988		08/03/93		78,401		80	%		394,930	Price Chopper
143 Westgate Manor	Rome	NY		1961		01/01/86		65,813		93	%		355,925	Rome Cinemas
144 Northland	Watertown	NY		1962		01/01/73		122,666		77	%		498,761	Ames Department Store
145 Ashland Square	Ashland	OH		1990		10/06/93		163,168		100	%		947,774	Foodtown, Wal-Mart
146 Harbor Plaza	Ashtabula	OH		1988		02/20/91		51,794		75	%		284,978	Jubilee Foods
147 Belpre Plaza	Belpre	OH		1969		06/08/88		88,426		23	%		140,391	—
148 Southwood Plaza	Bowling Green	OH		1961		05/16/90		81,959		82	%		332,484	—
149 Brentwood Plaza	Cincinnati	OH		1957		05/04/94		232,567		83	%		1,132,956	—
150 Western Village	Cincinnati	OH		1960		05/04/94		138,526		93	%		555,100	T.J. Maxx
151 Crown Point	Columbus	OH		1980		07/23/98		147,427		84	%		1,055,399	The Kroger Co.
152 Greentree Shopping Center	Columbus	OH		1974		07/23/98		128,501		83	%		966,706	The Kroger Co.
153 South Towne Centre	Dayton	OH		1972		03/27/92		308,700		98	%		2,363,352	Burlington Coat Factory, Kmart
154 Heritage Square	Dover	OH		1959		08/31/93		231,735		63	%		842,543	Bag N Save Foods
155 Midway Crossing	Elyria	OH		1986		12/11/95		138,265		82	%		944,544	T.J. Maxx	Kids R Us, Toys R Us
156 Fairfield Center	Fairfield	OH		1978		05/01/90		74,095		96	%		396,453	The Kroger Co.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 27

			Year		Date				Percent
Property Name	City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
157 Silver Bridge Plaza	Gallipolis	OH		1972		12/28/86		145,481		80	%		496,510	Quality Farm & Fleet
158 Parkway Plaza	Maumee	OH		1955		09/06/89		140,021		59	%		365,545	Foodtown
159 New Boston	New Boston	OH		1991		02/17/93		238,711		96	%		1,389,782	Festival Foods, Wal-Mart
160 Market Place	Piqua	OH		1972		11/20/91		169,311		81	%		605,467	Foodtown
161 Brice Park	Reynoldsburg	OH		1989		03/04/98		168,284		100	%		1,740,643	Gregg Appliances, Michaels, Old Navy
162 Bethel Park	Bethel Park	PA		1965		05/14/97		224,069		100	%		1,388,458	Ames Department Store, Giant Eagle
163 Market Street Square	Elizabethtown	PA		1993		10/06/97		169,481		100	%		1,372,192	Kmart, Weis Markets
164 Johnstown Galleria Outparcel	Johnstown	PA		1993		07/31/97		61,968		87	%		339,677	—	Builders Square, Toys R Us, Wal-Mart
165 New Garden	Kennett Square	PA		1979		06/20/97		149,270		96	%		630,031	Acme Markets
166 Stone Mill Plaza	Lancaster	PA		1988		01/06/94		94,493		93	%		846,985	Giant Food Stores
167 Crossroads Plaza	Mt. Pleasant	PA		1975		11/10/88		105,783		95	%		402,288	Quality Farm & Fleet
168 Ivyridge	Philadelphia	PA		1963		08/02/95		112,278		72	%		877,274	Super Fresh
169 Roosevelt Mall	Philadelphia	PA		1964		01/01/64, 04/01/74		555,821		96	%		5,689,615	Strawbridges
170 Shops at Prospect	West Hempfield	PA		1994		07/31/95		63,392		94	%		496,634	Fox Markets	Kmart
171 Circle Center	Hilton Head	SC		1992		03/24/94		65,313		97	%		655,095	BI-LO
172 Palmetto Crossroads	Hilton Head	SC		1990		10/18/95		40,916		92	%		285,928	Food Lion
173 Remount Village	North Charleston	SC		1996		11/13/96		60,238		97	%		556,471	BI-LO
174 Congress Crossing	Athens	TN		1990		11/10/88		172,305		98	%		1,134,183	BI-LO, Kmart
175 St. Elmo Central	Chattanooga	TN		1995		08/06/96		74,978		100	%		662,938	Winn-Dixie Stores
176 Saddletree Village	Columbia	TN		1990		06/15/98		45,800		100	%		316,765	Food Lion
177 West Towne Square	Elizabethton	TN		1998		06/09/98		99,224		76	%		517,260	Winn-Dixie Stores
178 Greeneville Commons	Greeneville	TN		1990		03/10/92		223,118		98	%		1,428,083	Kmart, Proffitt's
179 Hazel Path	Hendersonville	TN		1989		11/27/95		67,967		92	%		466,921	Food Lion	Wal-Mart
180 Kimball Crossing	Kimball	TN		1987		11/27/95		280,477		98	%		1,738,482	Wal-Mart
181 Chapman-Ford Crossing	Knoxville	TN		1990		12/30/92		185,604		97	%		1,042,636	Food Lion, Wal-Mart
182 Farrar Place Shopping Center	Manchester	TN		1989		12/15/95		43,220		100	%		352,541	Food Lion	The Crystal Company
183 Georgetown Square	Murfreesboro	TN		1986		09/29/93		104,117		88	%		840,493	The Kroger Co.
184 Apison Crossing	Ooltewah	TN		1997		07/29/97		79,054		82	%		555,060	Winn-Dixie Stores
185 Madison Street Station	Shelbyville	TN		1985		10/11/95		56,766		100	%		374,986	BI-LO
186 Commerce Central	Tullahoma	TN		1995		08/09/96		182,401		100	%		1,239,246	Wal-Mart
187 Merchant’s Central	Winchester	TN		1997		12/09/97		208,123		99	%		1,195,706	Peebles, Wal-Mart
188 Bardin Place Center	Arlington	TX		1993		10/06/97		303,900		97	%		2,831,425	Oshmann's, Kmart	Hobby Lobby
189 Irving West	Irving	TX		1987		09/14/93		70,056		96	%		596,826	Winn-Dixie Stores
190 Hanover Square	Mechanicsville	VA		1991		01/06/93		129,987		97	%		1,392,202	Ukrops Supermarket	Kohl's
191 Victorian Square	Midlothian	VA		1991		03/24/94		271,215		92	%		1,705,837	Hannaford Bros, Kmart
192 VA-KY Regional S.C.	Norton	VA		1989		12/30/92		193,238		100	%		1,236,331	Ingles, Wal-Mart
193 Cave Spring Corners	Roanoke	VA		1969		06/05/97		171,125		93	%		667,443	Ames Department Store, The Kroger Co.
194 Hunting Hills	Roanoke	VA		1989		04/02/98		166,207		98	%		925,133	Wal-Mart
195 Lakeside Plaza	Salem	VA		1989		04/15/99		82,036		98	%		740,765	The Kroger Co.
196 Fredricksburg	Spotsylvania	VA		1970		05/14/86		83,374		19	%		69,600	—
197 Lake Drive Plaza	Vinton	VA		1976		02/12/98		148,061		100	%		1,008,589	The Kroger Co.
198 Ridgeview Centre	Wise	VA		1990		07/02/92		176,690		98	%		1,137,458	Food City, Kmart	Belk's
199 Moundsville Plaza	Moundsville	WV		1961		12/27/88		174,664		88	%		963,226	The Kroger Co.
200 Grand Central Plaza	Parkersburg	WV		1986		06/08/88		74,017		53	%		388,323	Office Depot
201 Kmart Plaza	Vienna	WV		1975		02/25/93		106,258		96	%		519,630	Kmart
					TOTAL			30,010,060		91	%	$	202,839,966

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 28

				Year		Date				Percent
Property Name		City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
	Factory Outlet Centers
1 Factory Merchants Barstow		Barstow	CA		1989		11/01/93		330,310		84	%	$	4,487,351	Esprit, Gap, Polo, Timberland
2 St. Augustine Outlet Center		St. Augustine	FL		1990		03/01/92		329,374		93	%		4,911,999	Calvin Klein, Gap, Mikasa, Reebok, Westpoint Stevens
3 Factory Merchants Branson		Branson	MO		1988		11/01/93		317,494		77	%		3,303,240	Dress Barn, Lenox, Westpoint Stevens
4 Factory Outlet Village Osage Beach		Osage Beach	MO		1986		01/29/93		400,429		96	%		6,682,194	Gap, Mikasa, Polo, Tommy Hilfiger
5 Jackson Outlet Village (2)		Jackson	NJ		1997		04/30/97		292,569		99	%		5,716,426	Brooks Brothers, Gap, Mikasa, Nike, Reebok
6 Factory Merchants Ft. Chiswell		Max Meadows	VA		1989		11/01/93		175,578		56	%		676,074	Polo, Reebok
						TOTAL			1,845,754		87	%	$	25,777,284
	Single Tenant Properties
1 The Kroger Co.		Muscle Shoals	AL		1982		08/10/93		42,130		100	%	$	252,780
2 The Kroger Co.		Muscle Shoals	AL		1982		08/10/93		10,069		100	%		60,414
3 The Kroger Co.		Scottsboro	AL		1982		08/10/93		42,130		100	%		217,391	Bruno's
4 Kmart		Pine Bluff	AR		1981		08/10/93		60,842		100	%		288,232
5 Lucky stores		Mesa	AZ		1982		08/10/93		29,827		100	%		126,438	ABCO
6 24 Hour Fitness		Phoenix	AZ		1994		05/06/94		44,374		100	%		741,189
7 Lucky stores		Phoenix	AZ		1982		01/19/94		28,217		100	%		154,620	ABCO
8 24 Hour Fitness		Scottsdale	AZ		1994		08/19/94		44,374		100	%		749,773
9 Pueblo I		Pueblo	CO		1977		08/10/93		12,556		0	%		—
10 Doverama at Rodney		Dover	DE		1959		01/01/69		30,000		100	%		70,000
11 Gold’s Gym		Brandon	FL		1982		08/10/93		36,750		100	%		202,582
12 Albany I		Albany	GA		1981		08/10/93		73,000		100	%		150,380
13 Rite Aid		East Albany	GA		1982		08/10/93		10,069		100	%		54,567
14 The Kroger Co.		East Albany	GA		1982		08/10/93		34,019		100	%		197,612	Harvey Foods
15 Kmart		Atlantic	IA		1980		01/19/94		40,318		100	%		160,000
16 Decatur I		Decatur	IL		1983		08/10/93		29,000		0	%		—
17 The Kroger Co.		Ottawa	IL		1982		08/10/93		44,088		100	%		278,866
18 Lucky stores		Peoria	IL		1983		08/10/93		30,000		100	%		208,133
19 The Kroger Co.		Waterloo	IL		1982		08/10/93		31,170		100	%		207,135	Schnuck Markets
20 Helping Hands		Fort Wayne	IN		1976		12/31/92		4,584		100	%		49,694
21 Hobart I		Hobart	IN		1983		08/10/93		29,300		0	%		—
22 Kindercare		Indianapolis	IN		1976		12/31/92		4,268		100	%		38,000
23 Kindercare		Indianapolis	IN		1976		12/31/92		4,452		100	%		24,555
24 Kindercare		Indianapolis	IN		1976		12/31/92		4,212		100	%		38,000
25 Kindercare		Indianapolis	IN		1976		12/31/92		4,452		100	%		38,000
26 Michigan City I		Michigan City	IN		1983		08/10/93		29,000		0	%		—
27 Brookshire Grocery		West Monroe	LA		1981		08/10/93		41,293		100	%		228,671
28 Mountain Jacks		Dearborne Hts	MI		1988		12/31/92		9,914		100	%		169,000
29 Kindercare		Kalamazoo	MI		1990		02/06/91		6,260		100	%		77,999
30 High Ridge I		High Ridge	MO		1980		12/31/92		4,654		100	%		28,800
31 Northern Automotive		Grand Island	NE		1988		12/31/92		5,671		100	%		79,140
32 Northern Automotive		Hastings	NE		1988		12/31/92		4,000		100	%		56,658
33 Safeway		Muskogee	OK		1981		08/10/93		45,510		100	%		280,344	Homeland
34 The Kroger Co.		Clearfield	PA		1982		08/10/93		31,170		100	%		210,000	Penn Traffic
35 Hardees		Hanover	PA		1971		07/31/97		3,800		100	%		24,100
36 Winn-Dixie Stores		Chattanooga	TN		1995		03/31/97		43,848		100	%		237,413
37 The Kroger Co.		Missouri City	TX		1982		08/10/93		44,183		100	%		176,732
38 El Chico		Temple	TX		1995		12/19/95		6,600		100	%		57,500
39 Pizza Hut		Harrisonburg	VA		1969		07/31/96		3,384		100	%		22,755
						TOTAL			1,003,488		90	%	$	5,957,473

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Property Portfolio page 29

				Year		Date				Percent
Property Name		City	State	Built		Acquired		GLA		Leased (1)			ABR		Anchor Tenant	Anchor Tenant Not Owned
	Enclosed Malls / Specialty Retail Properties
1 Pointe*Orlando		Orlando	FL		1997		11/30/99		457,119		79	%	$	10,721,950	Disney, FAO Schwarz, Foot Locker, Muvico, XS
2 Laurel Mall		Connellsville	PA		1970		05/15/01		336,222		45	%		498,513	Ames
3 Valley Fair Mall		West Valley City	UT		1970		12/31/96		600,602		94	%		3,843,904	JC Penney, Meier & Frank, Mervyn's
						TOTAL			1,393,943		77	%	$	15,064,367
	Miscellaneous Properties
1 Genzyme Corp.		Scottsdale	AZ		1971		12/17/90		21,560		100	%	$	293,808
2 Unity Professional Bldg		Fridley	MN		1991		05/30/96		62,518		94	%		885,175
3 Institute for Defense Analyses		Princeton	NJ		1982		05/31/74		51,000		100	%		266,338
4 Roxbury Township		Roxbury	NJ		—		12/31/97	LAND			—			—
5 North Central Avenue		Hartsdale	NY		—		07/31/72	LAND			—			—
6 Taylorsville		Salt Lake City	UT		—		06/01/99	LAND			—			—
7 Valley Fair Apartments		West Valley City	UT		1975		03/01/97	APTS			—			—
						TOTAL			135,078		97	%	$	1,445,322
TOTAL STABILIZED PORTFOLIO									34,388,323		90	%	$	251,084,410
Redevelopment Properties
	Community and Neighborhood Shopping Centers
1 Stein Mart Center		Poway	CA		1981		01/11/01		112,405		69	%	$	460,511	Motorsports Warehouse, Stein Mart
2 Arapahoe Crossings (3)		Aurora	CO		1996		10/10/01		425,912		100	%		5,423,735	Borders, King Soopers, Kohl's, Mann Theatre, Marshalls,
															Office Max, Old Navy, Ross, Ulta Cosmetics
3 Eastgate Shopping Center		Louisville	KY		1987		11/10/93		152,855		98	%		1,386,707	The Kroger Co.
4 Fashion Corner		Saginaw	MI		1986		12/12/95		188,877		69	%		1,362,419	Best Buy, Kids R Us
5 Southfield Shopping Center		Southfield	MI		1970		02/12/98		106,948		95	%		1,034,705	Farmer Jack	Burlington Coats, F&M, Marshalls
6 Bennetts Mills Plaza		Jackson	NJ		1988		09/01/94		115,238		100	%		1,134,348	Stop & Shop
7 Dover Park Plaza		Yardville	NJ		1966		01/28/00		59,642		100	%		530,167	—
8 Delhi		Cincinnati	OH		1973		05/22/96		166,317		96	%		1,406,317	The Kroger Co.
9 Central Avenue Marketplace		Toledo	OH		1968		08/14/90		157,383		98	%		157,529	—
10 Dillsburg Shopping Center		Dillsburg	PA		1994		10/16/96		68,849		100	%		633,746	Giant Food Stores
11 Hampton Square		Southampton	PA		1980		12/29/98		62,933		99	%		634,870	—
12 Island Plaza		James Island	SC		1994		10/06/97		171,955		95	%		1,135,427	Food Lion, Kmart
						TOTAL			1,789,314		92	%	$	15,300,481
	Enclosed Malls / Specialty Retail Properties
1 Clearwater Mall (4)		Clearwater	FL		1973		12/02/97		837,417		24	%	$	877,740	—
2 The Mall at 163rd Street		Miami	FL		1956		12/31/98		863,760		36	%		1,653,622	Marshalls	Home Depot
						TOTAL			1,701,177		30	%	$	2,531,362
TOTAL REDEVELOPMENT PROPERTIES									3,490,491		62	%	$	17,831,842
TOTAL PORTFOLIO									37,878,814		87	%	$	268,916,253

(1)	Includes all leases in force at December 31, 2001, including those that are fully executed, but not yet open.
(2)	Formerly Six Flags Factory Outlets.
(3)	In final phase of development.
(4)	Property to be contributed to a joint venture upon satisfaction of certain contingencies including obtaining all developmental approvals and a construction loan.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Summary of Joint Venture Projects / Notes Receivable page 30

	Festival Pavilions (1) (2)	Vail Ranch II (1)	Superior Towne Center — Phase 1 (1)	Superior Towne Center — Phase 2 (1)
Location	Escondido, CA	Temecula, CA	Superior, CO	Superior, CO
Project Description	Land held for retail development	Community shopping center	Community shopping center	Community shopping center
Approximate GLA or Area	34 acres	109,200	191,000 and 3.2 acres	107,000 and 3.4 acres
Percent Leased	—	74%	59%	0%
Percent Built	—	73%	60%	0%
Anchor Tenants Development	—	Powerhouse Gym, Stein Mart	Costco (NAP), Michaels, Office Max, PetsMart, Target—(NAP), T.J. Maxx
Start Date	—	Aug-98	Sep-97	Sep-97
Expected Completion       Date	—	Jun-02	Dec-02	Jun-03
Percent Complete	—	88%	86%	50%
Project Cost to Date	$1,205,000	$11,525,000	$36,197,000	$10,461,000
Expected Total Project Cost	—	$13,040,000	$42,265,000	$20,870,000
Project Bank Debt Outstanding	—	$8,407,000	$9,748,000	$0
Borrower / JV Partner	The Festival Companies	Land Grant Development	The Ellman Companies	The Ellman Companies
Economic Structure	Note receivable	Equity investment with 12% preferred return	Note receivable with 50% profit participation	Note receivable with 50% profit participation.
		Phase I is owned by the Company	Additional collateral of up to $14.2 million	Additional collateral of up to $6.3 million in
			in governmental subsidy	governmental subsidy
Percent Ownership	0%	50%	0%	0%
Investment
Direct Equity	—	$1,152,000	—	—
Notes Receivable	$765,000	—	$15,480,000	$10,461,000
Interest Rate on Notes       Receivable	12% (3)	—	12%	12%
Maturity Date	Dec-01	—	Sep-04	Sep-04
	The Centre at Preston Ridge — Phase 1 (1)	The Centre at Preston Ridge — Phase 2 (1)	Atrium Media Tower (1)	Atrium on the Bay (1)
Location	Frisco, TX	Frisco, TX	Toronto, Canada	Toronto, Canada
Project Description	Community shopping center	Land to be sold for retail development	Advertising tower	Mixed—use office and retail commercial property
Approximate GLA or Area	730,800 and 29.1 acres	37.15 acres	—	1,050,000
Percent Leased	89%	—	—	91%
Percent Built	100%	—	—	100%
Anchor Tenants	Best Buy, DSW Shoe Warehouse, Linens N Things,	—	—	CIBC
	Marshalls, MJ Design, Old Navy, PetsMart,
	Ross, Staples, Stein Mart, Target (NAP), Ulta 3
Development
Start Date	Sep-97	Jan-99	Dec-98	Acquired in March 1996
Expected Completion       Date	Dec-01	Dec-02	Oct-99	—
Percent Complete	94% (4)	—	100%	100%
Project Cost to Date	$102,050,000	$15,922,000	$8,100,000	$55,560,000 (5)
Expected Total Project Cost	$108,179,000	—	$8,100,000	$55,560,000 (5)
Project Bank Debt Outstanding	$70,000,000	$15,922,000	$1,600,000	$52,523,000 (5)
Borrower / JV Partner	George Allen / Milton Schaffer	George Allen / Milton Schaffer	Gary Sabin Investor Group	The Ellman Companies
Economic Structure	Equity investment with 10% preferred return	Equity investment with 10% preferred return	Note receivable	Note receivable
		The Company has guaranteed $21,600,000 of
		notes on the property
Percent Ownership	50%	50%	0%	0%
Investment
Direct Equity	$39,765,000	$959,000	—	—
Notes Receivable	—	—	$2,077,000	$7,763,000
Interest Rate on Notes       Receivable	—	—	10%	25% (3)
Maturity Date	—	—	Jun-02	May-03

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Summary of Joint Venture Projects / Notes Receivable page 31

		Note Receivables and Lines of Credit
Location		—
Project Description		Note Receivables and Lines of Credit
Approximate GLA or Area		—
Percent Leased		—
Percent Built		—
Anchor Tenants		—
Development
	Start Date	—
	Expected Completion Date	—
	Percent Complete	—
Project Cost to Date		—
Expected Total Project Cost		—
Project Bank Debt Outstanding		—
Borrower / JV Partner		Various
Economic Structure		Notes receivable
Percent Ownership		0%
Investment
	Direct Equity	—
	Notes Receivable	$3,130,000
	Interest Rate on Notes Receivable	Various (3)
	Maturity Date	Various

(1)	Project data is based on information provided by borrower / joint venture partner.
(2)	The Company is currently in negotiations relative to the status of this loan.
(3)	The Company has made certain adjustments to its interest accrual on these notes.
(4)	Additional tenant improvements required.
(5)	Book basis per partnership financial statements as of November 30, 2001, converted to U.S. dollars.

NAP — Anchor tenant not owned

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.
Supplemental Disclosure — Quarter Ended December 31, 2001

Joint Venture Projects / Notes Receivable — Disposition Activity
(In thousands) page 32

							Sale /
							Repayment		Proceeds		Book		Gain /
Property Name		Type(1)		Location		Transaction Description	Date		Amount		Value		(Loss)
1Q 2001
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		.6632 acre pad sale		01/30/01	$	722	$	424	$	298
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		.5834 acre pad sale		01/30/01		635		373		262
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		1.131 acre pad sale		03/01/01		1,033		724		309
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		3.828 acre pad sale		03/01/01		2,402		2,450		(48	)
	Total								$	4,792	$	3,971	$	821
2Q 2001
Mesa Pavilions (3)			N	Mesa, AZ		Repayment by joint venture partner of outstanding note receivable and accrued interest		05/18/01	$	8,807	$	8,807	$	—
The Groves (4)			N	Tempe, AZ		Repayment by joint venture partner of outstanding note receivable and accrued interest		05/18/01		10,106		10,106		—
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		1.265 acre pad sale		06/18/01		1,394		809		585
	Total								$	20,307	$	19,722	$	585
3Q 2001
The Centre at Preston Ridge — Phase 2 (2)			L	Frisco, TX		1.147 acre pad sale		07/18/01	$	820	$	734	$	86
					2001 Total Dispositions				$	25,919	$	24,427	$	1,492

(1)  L — Land, N — Notes Receivable

(2)  Proceeds used to reduce bank debt guaranteed by the Company on the property. Adjusted book value allocations based on information provided by joint venture partner in 4Q 2001.

(3)  $500,000 of the proceeds consists of a note receivable secured by certain interests in Superior Towne Center.

(4)  $1.63 million of the proceeds consists of a note receivable secured by certain interests in Superior Towne Center.

The above does not purport to disclose all items required under GAAP.

The Company’s 10-K for the year ended December 31, 2001 and 10-Q for the quarters ended September 30, 2001, June 30, 2001 and March 31, 2001 should be read in conjunction with the above information.