Pan Pacific Declares Increase in Regular Quarterly Dividend

VISTA, CA-Pan Pacific Retail Properties Inc. reports that its board of directors has increased its regular quarterly dividend by 8.3% to $0.46 per share, payable on March 15, 2001, to stockholders of record as of Feb. 16, 2001. The dividend of $0.455 per share is equivalent to $1.82 per share on an annualized basis.

“We are pleased to increase our dividend for the fourth consecutive year,” says Stuart A. Tanz, president and chief executive officer. “Our ability to continue providing increased dividends to our shareholders is a result of the strong fundamentals in our core markets and our proactive management and leasing initiatives, as well as our investment program.”