"We are optimistic about the balance of 2004 as we bringadditional acquisitions and developments on-line and continue ourredevelopment program to maximize the value of existing assets,"says Dennis Gershenson, president and chief executive officer in areview of the company's performance at the close of the secondquarter.

Among the highlights of the last quarter, Gershenson says,are:

* Beginning development of the 400,000-sf Gaines Marketplace inGrand Rapids, MI.

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