Price Legacy's management will base its purchase decisions onmarket conditions, the price of the company's common shares andother factors. The repurchase program does not obligate PriceLegacy to acquire any particular number of shares and may besuspended at any time at the company's discretion.

Company officials say they believe that the common stock pricehas been trading at a significant discount to its net asset value,and this is an opportunity to increase shareholder value.

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