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Market Forecast Will April's Showers Bring New Opportunity? read more SNL Fast Facts Click here for weekly SNL REIT data Track the Experts! 2004 Portfolio Stock Challenge FEATURED MEMBER SITE iStar Financial Looking for Advertising Opportunities with Real Estate Portfolio? Click here Investing in Real Estate Stocks? Click here Click here Fitting In REITs try to claim their rightful place in dividend-focused funds Where Are They Now? Portfolio catches up with five former top REIT analysts Playing By The Rules How will changes on Wall Street impact REIT coverage? Growing Value Positive mall trends help General Growth Properties live up to its name Hamid R. Moghadam: TAKING STOCK Gaining Speed EDITOR'S DESK Here They Are DEVELOPMENTS April showers; funding office dividends; a new NAV; TRS election protection; dividend streaks; and REIT rankings REIT REALITY See if you knew this fact about the impact of the "Jobs and Growth" tax package on REIT dividends WINDOW ON WASHINGTON Senate Majority Leader Bill Frist on the 2004 election, tax cuts and REITs in his home state ONE-ON-ONE Stephen Green has SL Green Realty made in Manhattan SECTOR SPOTLIGHT Has the lodging recovery checked in? CAPITAL MARKETS Q&A with Lester Thurow VESTED INTEREST Despite struggles and poor job growth, office sector is working out of its slump NAMES TO NOTE People making news and moves in the REIT and publicly traded real estate industry FUND FOCUS Profile of the Alpine U.S. Real Estate Equity Fund BY THE NUMBERS Stable income; dominating dividends; projected FFO forecast; and 2004 Stock Challenge update IN CLOSING A corporate governance report card

Real Estate Portfolio® is the magazine for the REIT and publicly traded real estate industry. It is published bimonthly by the National Association of Real Estate Investment Trusts® (NAREIT), 1875 Eye Street, NW, Suite 600, Washington, DC 20006–5413. Phone 202-739-9400.