The $240 million sale of four outlet centers to Chelsea GCARealty Inc. and Fortress Investment Group yielded net proceeds of$174 million to Prime. These funds paid $125 million in short-termdebt.

Other deals in the mix include:·A $90 million mezzanine loanfrom Fortress and Greenwich Capital Financial Products Inc. Thethree-year loan rate is one-month Libor plus 950 basis points --15.66% based on the current rate. In exchange for the loan,Fortress and Greenwich received warrants, with a $1/share exerciseprice, to buy up to 1 million common shares of Prime.·A $20 millionfirst mortgage from Greenwich Capital backed by a recently openedoutlet center in Puerto Rico. The three-year floater amortizes overa 25-year schedule for its first year and over a 15-year schedulethereafter. Its rate is tied to one-month Libor plus 350 bp.·A $10million second mortgage that Mercantile-Safe Deposit and Trust Co.provided on Prime's outlet in Hagerstown, MD. The 30-month'smaturity coincides with that of a $49 million first mortgage fromMercantile at Libor rate plus 250 bp.Prime extended two mortgages:a $112 million first mortgage from Nomura Asset Capital Corp. and a$20 million mortgage from KeyBank.

Nomura's June 11, 2001 maturation was extended to December 2003.Prime must pay a rate of 13% plus a $1.1 million extension fee.Monthly amortization is a minimum of $50,000 or 50%.