X0202 4 2005-09-27 0 0000798288 NEW PLAN EXCEL REALTY TRUST INC NXL 0001219402 SIEGEL STEVEN F C/O NEW PLAN EXCEL REALTY TRUST, INC. 420 LEXINGTON AVENUE NEW YORK NY 10170 0 1 0 0 Exec VP, Gen Counsel and Secy Stock Option (right to buy) 17.60 2005-09-27 4 J 0 4210 0 A 2000-05-19 2009-05-17 Common Stock 4210 36710 D Stock Option (right to buy) 11.35 2005-09-27 4 J 0 5605 0 A 2001-02-23 2010-02-22 Common Stock 5605 48875 D Stock Option (right to buy) 13.71 2005-09-27 4 J 0 7967 0 A 2002-03-19 2011-03-18 Common Stock 7967 69467 D Stock Option (right to buy) 17.70 2005-09-27 4 J 0 8368 0 A 2003-04-02 2012-04-01 Common Stock 8368 72968 D Stock Option (right to buy) 16.97 2005-09-27 4 J 0 4534 0 A 2004-03-10 2013-03-09 Common Stock 4534 39534 D Stock Option (right to buy) 23.11 2005-09-27 4 J 0 5531 0 A 2005-03-02 2014-03-02 Common Stock 5531 48231 D Stock Option (right to buy) 22.75 2005-09-27 4 J 0 5479 0 A 2006-02-23 2015-02-23 Common Stock 5479 47779 D On September 27, 2005, the Company paid a $3.00 special dividend to its stockholders, which resulted in an anti-dilution adjustment that increased the number of options held by the reporting person and decreased the option exercise price. The initial option for 50,000 shares vested in five equal annual installments beginning on May 19, 2000. The anti-dilution adjustment has no impact on this vesting schedule. The initial option for 75,000 shares vested with respect to 54,000 shares in five equal annual installments beginning on February 23, 2001. The option vested with respect to the remaining 21,000 shares on February 23, 2008, subject to accelerated vesting upon the satisfaction of certain performance criteria. All of the shares are currently vested. The anti-dilution adjustment has no impact on this vesting schedule. The initial option for 75,000 shares vests with respect to 54,000 shares in five equal annual installments beginning on March 19, 2002. The option vests with respect to the remaining 21,000 shares on March 19, 2009, subject to accelerated vesting based on the satisfaction of certain performance criteria, and 1/2 of these 21,000 shares are currently vested. The anti-dilution adjustment has no impact on this vesting schedule. The initial option for 75,000 shares vests with respect to 54,000 shares in five equal annual installments beginning on April 2, 2003. The option vests with respect to the remaining 21,000 shares on April 2, 2010, subject to accelerated vesting upon the satisfaction of certain performance criteria. The anti-dilution adjustment has no impact on this vesting schedule. The initial option for 35,000 shares vests with respect to 25,200 shares in five equal annual installments beginning on March 10, 2004. The option vests with respect to the remaining 9,800 shares on March 10, 2011, subject to accelerated vesting upon the satisfaction of certain performance criteria. The anti-dilution adjustment has no impact on this vesting schedule. The option for 42,700 shares vests with respect to 21,350 shares in five equal annual installments beginning on March 2, 2005. The option vests with respect to the remaining 21,350 shares on March 2, 2012, subject to accelerated vesting upon the satisfaction of certain performance criteria, and 1/5 of these 21,350 shares are currently vested. The anti-dilution adjustment has no impact on this vesting schedule. The option for 42,300 shares vests with respect to 21,150 shares in five equal annual installments beginning on February 23, 2006. The option vests with respect to the remaining 21,150 shares in five equal annual installments beginning on February 23, 2006, subject to satisfaction of certain annual performance criteria. The anti-dilution adjustment has no impact on this vesting schedule. /s/ Steven F. Siegel 2005-09-27