X0201 42003-08-19 0000911215 CHELSEA PROPERTY GROUP INC CPG 0001210978 CHAO LESLIE T 103 EISENHOWER PARKWAY ROSELAND, NJ 07068 0100PresidentCommon Stock2003-08-194M03922011.6875A82000DCommon Stock2003-08-194S03922045.0007D42780DEmployee Stock Options (Right to Buy)11.68752003-08-194M03922011.6875D1995-12-072004-12-07Common Stock3922038000DThese options were granted under the Company's 1993 Stock Option Plan. All options become exercisable in five equal installements commencing one year from date of grant.Leslie T. Chao2003-08-20