With only a month left in Real Estate Portfolio’s 2004 Stock Challenge, the team from Banc of America Securities increased its lead over RBC Capital Management’s Jay Leupp. The Banc of America team posted a total return of 41.54 percent, as of Nov. 30. Right on their heels was Leupp with a total return of 35.14 percent. All six participants have posted total returns in excess of 23 percent through November.

To see how the 2004 Challenge finished and who came out on top, log on to www.realestateportfolio .com. The Stock Challenge is for entertainment purposes only, and readers should keep in mind that the selections made are not recommendations to purchase any specific stock.

2004 Real Estate Portfolio Stock Challenge Results through Nov. 30, 2004
Name Company Y-T-D Return	Portfolio
Equity REIT Research Team Banc of America Securities 41.54%	Kimco Realty Corp. (KIM) ProLogis (PLD) Taubman Centers, Inc. (TCO) Maguire Properties, Inc. (MPG) American Financial Realty Trust (AFR)
Jay Leupp RBC Capital Management 35.14%	PS Business Parks (PSB) The Mills Corporation (MLS) The Rouse Company (RSE) CBL & Associates Properties (CBL) Catellus Development Corp. (CDX)
Jay Habermann Credit Suisse First Boston 33.81%	Kimco Realty Corporation (KIM) CBL & Associates Properties, Inc. (CBL) General Growth Properties, Inc. (GGP) Simon Property Group (SPG) Pan Pacific Retail Properties (PNP)
Barry Vinocur Realty Stock Review 31.85%	Ventas, Inc. (VTR) Catellus Development Corp. (CDX) Host Marriott Corporation (HMT) Weingarten Realty Investors (WRI) Trizec Properties (TRZ)
Equity REIT Research Team Stifel Nicolaus 27.13%	National Health Investors (NHI) Equity Inns, Inc. (ENN) Omega Healthcare Investors (OHI) HRPT Properties Trust (HRP) Crescent Real Estate Equities (CEI)
Ray Mathis Standard & Poors's 23.12%	Vornado Realty Trust (VNO) General Growth Properties (GGP) FelCor Lodging Trust Inc. (FCH) Developers Diversified Realty (DDR) Trizec Properties (TRZ)