X0202 4 2006-03-28 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 2006-03-28 4 M 0 3280 11.35 A 30706.0788 D Common Stock 2006-03-28 4 M 0 1000 13.71 A 31706.0788 D Common Stock 1857.7591 I By 401(k) Plan Common Stock 121.904 I By Son Common Stock 95.676 I By Daughter Stock Option (right to buy) 11.35 2006-03-28 4 M 0 3280 0 D 2001-02-23 2010-02-22 Common Stock 3280 0 D Stock Option (right to buy) 13.71 2006-03-28 4 M 0 1000 0 D 2002-03-19 2011-03-18 Common Stock 1000 29588 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 March 28, 2006. 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. The initial option for 43,508 shares vested with respect to 30,856 shares in five equal annual installments beginning on March 19, 2002. The option vests with respect to the remaining 12,652 shares on March 19, 2009, subject to accelerated vesting based on the satisfaction of certain performance criteria. /s/ Steven F. Siegel, Attorney-in-Fact 2006-03-28