During the quarter, the company acquired a center in Miami andan outparcel in Jacksonville, FL, while selling outparcels inAtlanta and Huntsville, AL. Three developments and fiveredevelopments also are under way, and the company recently hired anew chief investment officer to look at future expansion in bothexisting and new markets.

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"We are enthusiastic about our prospects for growth," saidJeffrey S. Olson, president and CEO. "We will continue to recycleout of our lower tier and redeploy that capital into growthopportunities."

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Funds from operations (FFO) for the second quarter were $25.2million, compared to $30.8 million for the same period in 2006. Netincome for the quarter was $12.9 million, compared to $111.3million in the same period in 2006. Net income in 2006 was boostedby the sale of the company's Texas shopping centers. As of June 30,2007, the company's operating shopping center portfolio was 93.9%occupied.

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As of June 30, Equity One has interests in 180 properties,consisting of 164 shopping centers, seven projects underdevelopment or redevelopment, three land parcels, and six nonretailproperties.

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