X0202 4 2005-12-27 0 0000798288 NEW PLAN EXCEL REALTY TRUST INC NXL 0001318504 Carroll Michael A 420 LEXINGTON AVENUE NEW YORK NY 10170 0 1 0 0 Exec VP, Real Estate Op Common Stock 2005-12-27 4 M 0 1000 11.35 A 23536.0788 D Common Stock 1834.1629 I By 401(k) Plan Common Stock 120.347 I By Son Common Stock 94.454 I By Daughter Stock Option (Right to Buy) 11.35 2005-12-27 4 M 0 1000 0 D 2001-02-23 2010-02-22 Common Stock 1000 3280 D This amount includes shares held in the issuer's dividend reinvestment plan. Information regarding such shares is based on a plan statement as of December 27, 2005. The reporting person holds these shares as custodian. The reporting person disclaims beneficial ownership as to these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. The initial option for 17,500 shares vested with respect to 12,600 shares in five equal installments beginning on February 23, 2001. The option was scheduled to vest with respect to the remaining 4,900 shares on February 23, 2008, subject to accelerated vesting upon the satisfaction of certain performance criteria. As reported on a previous Form 4, such performance criteria have been achieved, and all of the shares have vested. Mr. Carroll previously exercised 13,710 of the shares and, as reported on a previous Form 4, the option for the remaining 3,790 shares was adjusted to 4,280 shares on September 27, 2005. /s/ Steven F. Siegel, Attorney - in - Fact 2005-12-28