Net income available to common shareholders was 18 cents perdiluted share, or $4.4 million, for the second quarter. Thiscompares to $4.9 million, or 19 cents per diluted share, for thesame period last year. Funds from operations was 61 cents perdiluted share that quarter, compared with the 60-cent consensusFirst Call estimate and 60 cents per diluted share for the samequarter in 2002.

"Our performance exceeded expectations primarily due toachieving property operating results at the high end of our range,"according to Chris Wheeler, CEO of Gables.

FFO was $18.5 million for the second quarter, compared with$18.6 million for the 2002 quarter.

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