The retail REIT's report was for its fourth quarter and fullyear financial results for the fiscal year ended October 31, 2000.Funds from Operations increased to $11,914,000 or $1.05 per dilutedcommon share and $1.17 per diluted class A common share from$11,878,000 or $1.04 per diluted common share and $1.16 per dilutedclass A common share in fiscal 1999.

On the downside, the company noted that net income applicable tocommon and class A common stockholders for the year 2000 was$5,442,000 or $0.49 per diluted common share and $0.55 per dilutedclass A common share compared to $6,043,000 or $0.54 per dilutedcommon share and $0.61 per diluted class A common share in 1999.Fiscal year 2000 and 1999 results include capital gains on thesales of properties of $1,067,000 and $1,364,000, respectively.

For the three months ended October 31, 2000, net incomeapplicable to common and class A common shareholders was $1,136,000or $0.10 per diluted common share and $0.11 per diluted class Acommon share from $2,811,000 or $0.26 per diluted common share and$0.27 per class A common share for the comparable period in fiscal1999. Last year's quarter included capital gains of $1,364,000 onsales of properties. Fourth quarter 2000 earnings reflected theloss of rental revenues from several tenants who filed forbankruptcy protection earlier in the year and vacated the premises.The company recently signed leases with new tenants to replacethem.