





| Dec.31,2001 | Jun.30,2002 | Dec.31,2002 | Jun.30,2003 | Dec.31,2003 | Jun.30,2004 | |
| Operating Revenues(*1) (yen in million) |
12,561 | 11,259 | 11,846 | 12,239 | 12,453 | 12,554 |
| Net Income (yen in million) |
5,341 | 4,492 | 4,562 | 4,313 | 4,093 | 4,262 |
| Distribution per Share (yen) |
19,026 | 16,003 | 16,253 | 15,367 | 14,582 | 15,185 |
| FFO Per Share(yen)(*2) | 40,857 | 22,938 | 23,635 | 23,794 | 23,140 | 24,203 |
| Total Assets (yen in million) |
256,847 | 278,976 | 290,725 | 307,688 | 314,362 | 366,200 |
| LTV(Debt-assets ratio)(%) | 30.7% | 36.0% | 38.0% | 41.9% | 43.3% | 50.8% |
*1 Operating revenues do not include consumption tax.
*2 Funds from operations per share: (Net income (excluding Gain on sale of investment properties + Gain on exchange of investment properties) + Depreciation and amortization) / Weighted average number of common shares issued and outstanding during the period.




