The 2005 Real Estate Portfolio Stock Challenge is down to its final three months and Art Havener of A.G. Edwards, with a 15.24 percent total return through Sept. 30, has pulled ahead. Right behind Havener are BB&T Capital Markets' Stephanie Krewson (with a 12.92 percent total return) and Jay Leupp of RBC Capital Markets (with a total return of 12.31 percent).

To see updates of how this year's contest is progressing, 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.

2005 Real Estate Portfolio Stock Challenge Results through Sept. 30, 2005
Name Company Y-T-D Return	Portfolio
Art Havener A.G. Edwards 15.24%	Kilroy Realty Corp. (KRC) Capital Automotive REIT (CARS) EastGroup Properties (EGP) Alexandria Real Estate Equities (ARE) Eagle Hospitality Properties (EHP)
Stephanie Krewson BB&T Capital Markets 12.92%	Archstone-Smith (ASN) Crescent Real Estate Equities (CEI) First Industrial Realty Trust (FR) Federal Realty Investment Trust (FRT) LaSalle Hotel Properties (LHO)
Jay Leupp RBC Capital Markets 12.31%	PS Business Parks (PSB) General Growth Properties, Inc. (GGP) AIMCO (AIV) Capital Automotive REIT (CARS) American Land Lease, Inc. (ANL)
Peter Slatin The Slatin Report 11.13%	Maguire Properties (MPG) The Macerich Company (MAC) AvalonBay Communities (AVB) LaSalle Hotel Properties (LHO) Taubman Centers (TCO)
Ray Mathis Standard & Poor's 10.73%	Simon Property Group (SPG) Reckson Associates Realty (RA) FelCor Lodging Trust Inc. (FCH) CBL & Associates Properties (CBL) LaSalle Hotel Properties (LHO)
Ralph Block Phocas Financial Corp. 10.54%	Archstone-Smith (ASN) The Macerich Company (MAC) SL Green Realty Corp. (SLG) Host Marriott Corporation (HMT) Public Storage, Inc. (PSA)
Barry Vinocur Realty Stock Review 8.61%	Regency Centers (REG) Equity Office Properties Trust (EOP) United Dominion Realty Trust (UDR) First Union Real Estate (FUR) Vornado Realty Trust (VNO)
Philip Martin Stifel Nicolaus 7.43%	CRT Properties Trust (CRO) Alexandria Real Estate Equities (ARE) Glenborough Realty Trust Inc. (GLB) Ramco-Gershenson Property (RPT) Jameson Inns Inc. (JAMS)