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FFO does not include gains orlosses on the sale of operating

Posted on 18 June 2010

FFO does not include gains orlosses on the sale of operating real estate assets, which are included in thedetermination of net income in accordance with GAAP. Accordingly, FFO is not acomprehensive measure of our operating cash flows. In addition, since FFO doesnot include depreciation on real estate assets, FFO may not be a usefulperformance measure when comparing our operating performance to that of othernon-real estate commercial enterprises. We compensate for these limitations byusing FFO in conjunction with other GAAP financial performance measures, such asnet income and net cash provided by operating activities, and other non-GAAPfinancial performance measures, such as net operating income. FFO does notrepresent cash generated from operating activities in accordance with GAAP andshould not be considered to be an alternative to net income (determined inaccordance with GAAP) as an indication of the Company’s financial performance,or to be an alternative to cash flow from operating activities (determined inaccordance with GAAP) as a measure of the Company’s liquidity, nor is itindicative of funds available for the Company’s cash needs, including itsability to make cash distributions.The Company believes that net income is the most directly comparable GAAPmeasurement to FFO. The Company believes that FFO is helpful to management andinvestors as a measure of operating performance because it excludes variousitems included in net income that do not relate to or are not indicative ofoperating performance, such as various non-recurring items that are consideredextraordinary under GAAP, gains on sales of operating real estate anddepreciation and amortization of real estate.Net operating income (“NOI”), which is a non-GAAP measure, is derived from realestate revenues (determined in accordance with GAAP) minus property operatingexpenses (determined in accordance with GAAP) Net operating income is anon-GAAP measure. It does not represent cash generated from operating activitiesin accordance with GAAP and should not be considered to be an alternative to netincome (determined in accordance with GAAP) as an indication of the Company’sfinancial performance or to be an alternative to cash flow from operatingactivities (determined in accordance with GAAP) as a measure of the Company’sliquidity; nor is it indicative of funds available for the Company’s cash needs,including its ability to make cash distributions.

The Company believes that netincome is the most directly comparable GAAP measurement to net operating income.The Company believes that net operating income is helpful to management andinvestors as a measure of operating performance because it is an indicator ofthe return on property investment, and provides a method of comparing propertyperformance over time. Net operating income excludes general and administrativeexpenses, management company revenues, interest income, interest expense,depreciation and amortization, gains on sales of interests in real estate, otherexpenses and gain on extinguishment of debt.Forward Looking StatementsThis press release contains certain “forward-looking statements” within themeaning of the U.S. Private Securities Litigation Reform Act of 1995, Section27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Actof 1934. Forward-looking statements relate to expectations, beliefs,projections, future plans, strategies, anticipated events, trends and othermatters that are not historical facts.

These forward-looking statements reflectPREIT`s current views about future events and are subject to risks,uncertainties and changes in circumstances that might cause future events,achievements or results to differ materially from those expressed or implied bythe forward-looking statements. Investors are alsodirected to consider the risks and uncertainties discussed in documents PREIThas filed with the Securities and Exchange Commission and, in particular,PREIT’s Annual Report on Form 10-K, as amended, for the year ended December 31,2008. PREIT does not intend to update or revise any forward-looking statementsto reflect new information, future events or otherwise. BEIJING (Reuters) – Japanese Prime Minister Taro Aso held out agreements on fighting the financial crisis, global warming and swine flu as evidence of deepening ties with sometime rival China Thursday, sidestepping tensions over the past.

World  |  China  |  Russia  |  Japan  |  South Korea  |  North KoreaAt the end of his two-day visit to Beijing, Aso told reporters he and China’s leaders also agreed on seeking an early restart of six-party talks to end North Korea’s nuclear weapons program, which has raised regional tensions.But Chinese President Hu Jintao did not appear to offer Aso much hope of an early end to North Korean threats.”The six-party talks are facing a difficult phase,” Hu told Aso, a Japanese official told reporters after the meeting. This, combined with a few other attributes, strengthen the possibility that Lesnar will remain champion for a some time to come. Brock’s SizeThe first, and most obvious, attribute that Lesnar has over all other fighters in the sport is his enormous frame.At 6’3” and 265 lbs., the heavyweight champion has a colossal size advantage that would make Solomon Grundy and The Incredible Hulk jealous.What is even more staggering is the fact Lesnar has to cut a tremendous amount of weight to make the 265 lbs. limit, only to gain a bit of that back in the 24 hours between the weigh-in and the fight.This makes it difficult for opponents to move Lesnar to a position where they can capitalize on his weaknesses, if any.The man walks around close to 290 lbs. when he is on the ranch back in Minnesota, and it’s not as though he’s a fatty. Had it not been for his inexperience with handling jiu-jitsu fighters, Lesnar might have walked away from that fight with a TKO win.You don’t see athletes the size of Lesnar move the way he does, so this makes a tough scrap for anyone from 206-265 lbs. Brock’s StrengthNeed a semi-truck moved out of your way? Brock Lesnar is your guy.Earlier when I was mentioning his weight cut, I talked about how fat doesn‘t play a huge role and the process. This type of attention is probably the best for the UFC and MMA all together.ESPN’s Sportscenter set aside an entire segment for Brock Lesnar to discuss his return from diverticulosis, a condition that sidelined him for several months. This was one of the biggest days in mixed martial arts’ rise to universal acceptance.For a few minutes on a January morning, the sporting world focused all of it’s attention on MMA by making Brock Lesnar it’s topic of discussion.The media circus that follows Lesnar grows by the month leading into his fights, and UFC brass is well aware of this.Even if Lesnar is to lose his next title defense, he will never be too far away from an opportunity to earn it back due to his incredible appeal to everyone who watches him.

It would befinancially irresponsible for Dana White and the UFC to keep Lesnar out of a main event relevant to title contention.Brock’s marketability potential is through the roof and too big a cash cow to pass him up.In Conclusion, Lesnar’s attributes put him at or in front of the title race and will keep him there until he is physically unfit to do so. For these reasons, Brock’s title reign will either last as long as time permits or he will be a multiple time UFC champion.Like it or not, Brock is here to stay.. Dispelling speculation that the running back may get released, new Washington Redskins coach Mike Shanahan said Friday that Clinton Portis will return to the team this season. “He’s our running back,” Shanahan told Alex Marvez of Fox Sports and co-host Gil Brandt during a Friday appearance on Sirius NFL Radio at the NFL Scouting Combine. Portis’ future with the Redskins came into question shortly after Shanahan became Washington’s head coach in early January. The 29-year-old Portis was limited to 484 yards and eight games last year because of injuries, including a season-ending concussion in November that he is still recovering from and there were also off-field issues.

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