Centro NP 8K Results of Operations and Financial Condition | SEC 23 Feb 06

Exhibit 99.2

SUPPLEMENTAL DISCLOSURE

Quarter Ended December 31, 2005

Certain statements in this Supplemental Disclosure that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; financing risks; possible future downgrades in our credit ratings; property ownership / management risks; the level and volatility of interest rates and changes in capitalization rates with respect to the acquisition and disposition of properties; financial stability of tenants; the Company’s ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks, including risks that developments and redevelopments are not completed on time or on budget and strategies, actions and performance of affiliates that the Company may not control; potential environmental and other liabilities; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled “Business-Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2004, which discuss these and other factors that could adversely affect the Company’s results.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure – Quarter Ended December 31, 2005

Table of Contents

		Page

Fourth Quarter Review / Shareholder Information		2

Financial Review

	Balance Sheets	6

	Income Statements	7

	Funds from Operations / Capital Expenditures	8

	Selected Financial Ratios / Data	10

	Reconciliation of Selected Non-GAAP Financial Information to Most Directly Comparable GAAP Financial Measure	11

	Summary of Outstanding Debt	12

	Debt Maturity Schedule / Debt Covenant Compliance Ratios	14

Activity Review

	2005 Acquisitions	15

	2005 Joint Venture Acquisitions	16

	2005 Sales to Joint Ventures and Dispositions	17

	2005 Joint Venture Dispositions	18

	Redevelopment / Outparcel Development	19

	New Development Activities	22

Portfolio Review

	Property Type Summary	23

	Properties by State / Region	25

	Same Property NOI Analysis	28

	Top Ten Tenants	30

	New Lease Summary	31

	Lease Expiration Schedule	32

	Property Portfolio	35

	Managed Portfolios	46

	Summary of Joint Venture Portfolios	47

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure – Quarter Ended December 31, 2005

Fourth Quarter Review / Shareholder Information

New Plan is one of the nation’s largest real estate companies, focusing on the ownership, management and development of community and neighborhood shopping centers. The Company operates as a self-administered and self-managed REIT, with a national portfolio of 476 properties, including 165 properties held through joint ventures, and total assets of approximately $3.4 billion. The properties are strategically located across 39 states and include 458 community and neighborhood shopping centers, primarily grocery or name-brand discount chain anchored, with approximately 66.1 million square feet of gross leasable area, and 18 related retail real estate assets, with approximately 1.2 million square feet of gross leasable area.

Fourth Quarter Review

Activity Review

• During the fourth quarter of 2005, the Company acquired, including through co-investments with its joint venture partners, 18 shopping centers and a vacant building adjacent to a shopping center owned by the Company and currently under redevelopment. The properties totaled approximately 3.2 million square feet of gross leasable area, as well as approximately 62 acres (owned by NPK Redevelopment I, LLC, as described below), and were acquired for an aggregate purchase price of approximately $370.1 million. During 2005, the Company acquired, including through co-investments with its joint venture partners, an aggregate of 28 shopping centers; two vacant buildings adjacent to shopping centers owned by the Company and currently under redevelopment; a shopping center currently being de-malled; the remaining 90 percent interests in two shopping centers in which the Company owned the other 10 percent interests; and six land parcels for an aggregate purchase price of approximately $692.0 million. The properties totaled approximately 5.3 million square feet of gross leaseable area and approximately 171 acres. Acquisitions completed during the fourth quarter are summarized below:

Company Portfolio (aggregate purchase price of approximately $61.1 million)

• On October 3, 2005, the Company acquired a 13,000 square foot vacant building located in Savannah, Georgia immediately adjacent to Victory Square, a shopping center owned by the Company and currently under redevelopment, for approximately $790,000.

• On November 3, 2005, the Company acquired Western Hills Plaza, a 430,399 square foot shopping center located in Cincinnati, Ohio and anchored by Bed Bath & Beyond, Old Navy, Sears, Staples and T.J. Maxx, for approximately $45.6 million. The property is across the street from Western Village, a recently redeveloped shopping center also owned by the Company.

• On December 21, 2005, the Company acquired Southland Shopping Center, a 291,221 square foot shopping center located in Toledo, Ohio and anchored by A.J. Wright, Big Lots, Kroger and Sears Hardware, for approximately $14.8 million.

CA New Plan Acquisition Fund, LLC (aggregate purchase price of approximately $28.3 million)

• On December 21, 2005, CA New Plan Acquisition Fund, LLC, a joint venture in which the Company holds a 10 percent interest, acquired two shopping centers, Great Eastern Shopping Plaza and Miracle Mile Shopping Plaza, located in the Toledo, Ohio market, for an aggregate of approximately $28.3 million. Great Eastern Shopping Plaza is a 339,878 square foot shopping center located in Northwood, Ohio and anchored by Aldi, Value City Department Store and Value City Furniture, and Miracle Mile Shopping Plaza is a 296,396 square foot shopping center located in Toledo, Ohio and anchored by Big Lots, Kroger and T.J Maxx.

Galileo America LLC (aggregate purchase price of approximately $127.6 million)

• On November 10, 2005, Galileo America LLC, a joint venture in which the Company holds a 5 percent interest, acquired a portfolio of five shopping centers located in the Cleveland, Ohio market for an aggregate of approximately $96.9 million. The portfolio includes: Southland Shopping Center, a 707,456 square foot shopping center located in Middleburg Heights, Ohio and anchored by BJ’s Wholesale Club, Burlington Coat Factory, Giant Eagle and Marc’s; Southland South, a 56,170 square foot shopping center located in Middleburg Heights, Ohio and anchored by Laser Adventure; Tops Plaza, a 70,003 square foot shopping center located in North Olmstead, Ohio and anchored by Tops Market; Tops Plaza, a 60,830 square foot shopping center located in North Ridgeville, Ohio and anchored by Tops Market; and Streetsboro Crossing, a 77,900 square foot shopping center located in Streetsboro, Ohio and anchored by Lowe’s (non-owned), Target (non-owned) and Tops Market.

• On November 10, 2005, Galileo America LLC acquired Ladera, a 126,012 square foot shopping center located in Albuquerque, New Mexico and anchored by Brooks, Dollar Tree and Great Wall Buffet, for approximately $13.8 million. The seller was CA New Plan Venture Fund, LLC, a joint venture in which the Company holds a 10 percent interest.

• On December 19, 2005, Galileo America LLC acquired Stop & Shop Plaza, a 112,765 square foot shopping center located in Enfield, Connecticut and anchored by Stop & Shop, for approximately $16.9 million, including approximately $8.3 million of assumed mortgage indebtedness.

NP/I&G Institutional Retail Company, LLC (aggregate purchase price of approximately $123.1 million)

• On November 1, 2005, NP/I&G Institutional Retail Company, LLC, a joint venture with JPMorgan Fleming Asset Management in which the Company holds a 20 percent interest, acquired Phase II of Conyers Crossroads, a 125,719 square foot shopping center located in Conyers, Georgia and anchored by Belk’s, for approximately $13.0 million. Phase I of the property was acquired on March 22, 2004 and totals 333,250 square feet.

• On November 10, 2005, NP/I&G Institutional Retail Company, LLC acquired The Plaza at EastChase and The Shoppes at EastChase, which are located contiguously in Montgomery, Alabama, for an aggregate purchase price of approximately $91.7 million, including the issuance of approximately $15.0 million of limited partner units in a partnership controlled by the Company and approximately $33.2 million of assumed mortgage indebtedness. The Plaza at Eastchase is a 112,285 square foot shopping center anchored by Cost Plus World Market, Kohl’s (non-owned), PetsMart, Pier 1 Imports, Ross Dress for Less and Target (non-owned), and The Shoppes at Eastchase is a 246,952 square foot lifestyle center anchored by Abercrombie & Fitch, Ann Taylor, Banana Republic, Books-A-Million, Dillard’s (non-owned), Gap and Linens ‘n Things.

• On November 29, 2005, NP/I&G Institutional Retail Company, LLC acquired Rolling Meadows, a 130,436 square foot shopping center located in Rolling Meadow, Illinois and anchored by Jewel-Osco, for approximately $18.3 million.

NPK Redevelopment I, LLC (aggregate purchase price of approximately $30.0 million)

• On October 7, 2005, the Company closed under a joint venture with Kmart Corporation (Sears Holding Corp.), pursuant to which the joint venture will redevelop three Kmart Supercenter properties formerly owned by Kmart, totaling approximately 62 acres and located in the Memphis, Tennessee market. The properties include Stateline Square, located in South Haven, Mississippi; Germantown Square, located in Cordova, Tennessee; and Riverdale Square, located in North Memphis, Tennessee. The Company has a 20 percent interest in the joint venture and will be responsible for redevelopment, management and leasing of the properties. The joint venture was valued at an aggregate of approximately $30.0 million.

• During the fourth quarter of 2005, the Company generated an aggregate of approximately $79.2 million of proceeds through the sale of nine properties and one land parcel. Properties sold during the quarter include Northland, a 132,032 square foot shopping center located in Watertown, New York; Windsor Village, a 114,776 square foot shopping center located in Austin, Texas; Victorian Square, a 271,235 square foot shopping center located in Midlothian, Virginia; Valley Fair Mall, a 607,075 square foot enclosed regional mall located in West Valley City, Utah; Valley Fair Apartments, comprised of 16 units and located adjacent to Valley Fair Mall in West Valley City, Utah; 0.7 acres of land at Kentwood in Kentwood, Michigan; The Pines, a 179,039 square foot shopping center located in Pineville, Louisiana and sold to CA New Plan Acquisition Fund, LLC; Northshore West, a 144,982 square foot shopping center located in Houston, Texas and sold to CA New Plan Acquisition Fund, LLC; Ladera, a 126,012 square foot shopping center located in Albuquerque, New Mexico and sold by CA New Plan Venture Fund, LLC to Galileo America LLC; and Lady’s Island, a 60,687 square foot shopping center located in Beaufort, South Carolina and sold by Galileo America LLC. During 2005, the Company generated an aggregate of approximately $1.1 billion of proceeds through the sales of properties to joint ventures, the culling of non-core and non-strategic properties and the disposition of certain properties and land parcels held through joint ventures.

Portfolio Review

• At the end of the fourth quarter, the gross leasable area (GLA) for the Company’s stabilized community and neighborhood shopping centers, including its pro rata share of unconsolidated joint venture properties, was approximately 93.0 percent leased. The GLA for the Company’s total community and neighborhood shopping center portfolio, which includes redevelopment properties and the Company’s pro rata share of unconsolidated joint venture properties, was approximately 91.1 percent leased as of December 31, 2005.

• During the fourth quarter, 198 new leases, aggregating approximately 829,000 square feet, were signed at an average annual base rent (ABR) of $11.19 per square foot. Also during the quarter, 277 renewal leases, aggregating approximately 981,000 square feet, were signed at an average ABR of $11.93 per square foot, an increase of approximately 7.7 percent over the expiring leases. During 2005, the Company executed a total of 1,470 new and renewal leases aggregating approximately 7.1 million square feet, including 657 new leases, totaling approximately 3.7 million square feet, which were signed at an average ABR of $9.79 per square foot and 813 renewal leases, totaling approximately 3.4 million square feet, which were signed at an average ABR of $10.43 per square foot, an increase of approximately 6.8 percent over the expiring leases.

Subsequent Events

• On February 2, 2006, the Company formed a second strategic joint venture with JPMorgan Fleming Asset Management to acquire high-quality institutional grade community and neighborhood shopping centers on a nationwide basis. The joint venture, which is called NP/I&G Institutional Retail Company II, LLC, has an equity commitment of $150.0 million based on a 20 percent / 80 percent contribution split between the Company and a fund advised by JPMorgan Fleming Asset Management, respectively. As the managing member, the Company will be responsible for initiating acquisitions, as well as providing property management and leasing services.

Shareholder Information

Corporate Headquarters

New Plan Excel Realty Trust, Inc.

420 Lexington Avenue

New York, NY 10170

Phone: 212-869-3000

Fax: 212-869-3989

www.newplan.com

Exchange Listing

New York Stock Exchange

Common stock: NXL

Series E preferred stock: NXLprE

Senior Unsecured Debt Ratings

Fitch: BBB+

Moody’s: Baa2

Standard & Poor’s: BBB

Quarterly Results

The Company expects to announce quarterly results as follows:

First quarter 2006: May 4, 2006

Second quarter 2006: August 3, 2006

Third quarter 2006: November 2, 2006

Transfer Agent and Registrar

Questions about dividend payments, shareholder accounts, replacement or lost certificates, stock transfers and name or address changes should be directed to:

Computershare Trust Company, N.A.

(formerly EquiServe Trust Company, N.A.)

P.O. Box 43010

Providence, RI 02940

Phone: 800-730-6001

www.computershare.com/equiserve

Corporate Communications Department

Shareholders seeking financial and operating information may contact:

Stacy Slater

Senior Vice President - Corporate Communications

Phone: 212-869-3000

Fax: 212-869-3989

E-mail: corporatecommunications@newplan.com

The unaudited financial information included in this Supplemental Disclosure is only a summary of more detailed financial information included in the Company’s Quarterly Reports on Form 10-Q and Annual Report on Form 10-K, which documents are filed with the Securities and Exchange Commission. For a more complete presentation and analysis of the Company’s financial information, please read these reports. These reports are available on the SEC’s Internet website at www.sec.gov. In addition, these reports are available on the Company’s Internet website at www.newplan.com, under Investor Information; Financial Reports.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Balance Sheets

(Unaudited, dollars in thousands, except footnotes)

	As Of
	12/31/05			09/30/05			06/30/05			03/31/05			12/31/04
*Assets:*
Land	$	724,901		$	709,562		$	891,505		$	908,897		$	897,411
Buildings and improvements	2,668,177			2,604,610			3,229,987			3,187,220			3,090,779
Less: accumulated depreciation and amortization	(376,816		)	(362,058		)	(452,924		)	(451,255		)	(428,427		)
*Net real estate*	3,016,262			2,952,114			3,668,568			3,644,862			3,559,763
Real estate held for sale	19,244			63,926			24,178			1,630			20,835
Cash and cash equivalents	9,202			5,944			8,361			23,952			7,292
Restricted cash (1)	19,906			19,094			18,671			19,915			22,379
Marketable securities	3,014			3,375			3,759			3,194			3,433
Receivables
Trade, net of allowance for doubtful accounts of (December 31, 2005- $27,540, September 30, 2005- $30,070, June 30, 2005- $25,610, March 31, 2005- $24,964, December 31, 2004- $24,239)	20,751			21,105			27,750			30,303			31,043
Deferred rent, net of allowance of (December 31, 2005- $1,592, September 30, 2005- $1,920, June 30, 2005- $2,907, March 31, 2005- $3,161, December 31, 2004- $3,548)	29,314			28,854			35,415			32,966			31,931
Other	25,138			19,585			18,593			18,460			18,627
Mortgages and notes receivable (2)	795			821			854			876			8,881
Prepaid expenses and deferred charges	43,346			47,026			53,457			58,988			47,646
Investments in / advances to unconsolidated ventures (3)	95,538			71,244			39,306			35,281			31,888
Intangible assets, net of accumulated amortization of (December 31, 2005- $10,927, September 30, 2005- $8,371, June 30, 2005- $6,714, March 31, 2005- $5,100, December 31, 2004- $3,467) (4)	78,046			77,156			36,635			36,363			32,085
Other assets (5)	9,206			23,689			15,355			13,382			15,939

*TOTAL ASSETS*	$	3,369,762		$	3,333,933		$	3,950,902		$	3,920,172		$	3,831,742

*Liabilities:*
Mortgages payable, including unamortized premium of (December 31, 2005- $13,871, September 30, 2005- $14,613, June 30, 2005- $19,816, March 31, 2005- $20,802, December 31, 2004- $20,400)	$	433,653		$	437,203		$	558,382		$	575,965		$	551,522
Notes payable, net of unamortized discount of (December 31, 2005- $4,822, September 30, 2005- $5,042, June 30, 2005- $4,361, March 31, 2005- $4,558, December 31, 2004- $4,723)	968,347			968,699			971,137			1,068,840			970,563
Credit facilities	215,000			185,000			535,000			395,000			446,000
Capital leases	27,881			27,972			28,061			28,157			28,234
Dividends payable	37,826			37,960			47,919			47,753			47,698
Other liabilities (6)	127,369			128,012			121,748			109,788			105,269
Tenant security deposits	10,641			10,879			12,014			11,691			11,511
*TOTAL LIABILITIES*	1,820,717			1,795,725			2,274,261			2,237,194			2,160,797

*Minority interest in consolidated partnership and joint ventures*	57,659			43,206			45,017			44,687			30,784

*Stockholders’ equity:*
Preferred stock	10			10			10			10			10
Common stock	1,042			1,041			1,034			1,030			1,028
Additional paid-in capital	2,036,880			2,033,092			2,016,875			2,011,299			2,005,977
Accumulated other comprehensive income	(8,074		)	(8,060		)	(7,752		)	(2,966		)	(5,031		)
Less: accumulated distributions in excess of net income	(538,472		)	(531,081		)	(378,543		)	(371,082		)	(361,823		)
*TOTAL STOCKHOLDERS’ EQUITY*	1,491,386			1,495,002			1,631,624			1,638,291			1,640,161

*TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY*	$	3,369,762		$	3,333,933		$	3,950,902		$	3,920,172		$	3,831,742

(1) Consists primarily of cash held in escrow accounts as required by certain loan agreements.

(2) Balance as of December 31, 2004 includes an approximately $8.0 million purchase money note issued in connection with the sale of Factory Merchants Barstow.

(3) Represents direct equity investments in Arapahoe Crossings, L.P.; BPR Land Partnership, L.P.; BPR Shopping Center, L.P.; BPR South, L.P.; CA New Plan Acquisition Fund, LLC; CA New Plan Venture Direct Investment Fund, LLC; CA New Plan Venture Fund, LLC; Galileo America LLC; NP/I&G Institutional Retail Company, LLC; NPK Redevelopment I, LLC and Westgate Mall, LLC.

(4) Includes the value of intangible assets allocated in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 141, Business Combinations (“SFAS No. 141”), as well as amounts paid to aquire certain management rights in connection with the Galileo Transactions, as described in the Company’s September 30, 2005 Supplemental Disclosure.

(5) Other assets include: deposits, the value of certain of the Company’s swaps and furniture and fixtures.

(6) Other liabilities include: amounts payable for real estate taxes, interest, payroll and normal vendor payables, as well as amounts allocated for below market leases in accordance with SFAS No. 141.

The above does not purport to disclose all items required under generally accepted accounting principles (“GAAP”).

The Company’s Form 10-K for the year ended December 31, 2005 and Form 10-Q for the quarters ended September 30, 2005, June 30, 2005 and March 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Income Statements

(Unaudited, in thousands, except per share amounts and footnotes)

																									Twelve
	Three Months Ended																								Months Ended
	12/31/05			09/30/05			06/30/05			03/31/05			12/31/04			09/30/04			06/30/04			03/31/04			12/31/05			12/31/04
*Rental Revenues:*
Rental income	$	83,149		$	89,014		$	99,528		$	98,756		$	98,123		$	95,213		$	93,179		$	92,908		$	370,447		$	379,423
Percentage rents	926			893			1,539			2,507			1,147			1,202			1,186			2,526			5,865			6,061
Expense reimbursements	24,161			22,350			28,732			25,182			24,809			22,459			23,552			24,942			100,425			95,762
*TOTAL RENTAL REVENUES*	108,236			112,257			129,799			126,445			124,079			118,874			117,917			120,376			476,737			481,246

*Rental Operating Expenses:*
Operating costs	18,498			17,626			20,649			21,509			22,843			18,515			18,399			22,371			78,282			82,128
Real estate taxes	16,738			15,136			18,354			16,089			15,383			15,817			14,683			14,645			66,317			60,528
Provision for doubtful accounts	2,150			4,482			2,014			2,710			2,329			2,401			2,435			1,733			11,356			8,898
*TOTAL RENTAL OPERATING EXPENSES*	37,386			37,244			41,017			40,308			40,555			36,733			35,517			38,749			155,955			151,554
*NET OPERATING INCOME*	70,850			75,013			88,782			86,137			83,524			82,141			82,400			81,627			320,782			329,692

*Other Income:*
Fee income	4,804			3,228			1,346			1,579			832			1,406			1,258			1,301			10,957			4,797
Interest, dividend and other income	652			1,836			781			956			932			769			590			1,234			4,225			3,525
Equity in income of unconsolidated ventures	2,160			755			441			689			410			314			559			230			4,045			1,513
*TOTAL OTHER INCOME*	7,616			5,819			2,568			3,224			2,174			2,489			2,407			2,765			19,227			9,835

*Other Expenses:*
Interest expense	22,980			39,554			28,177			27,331			26,967			26,150			26,536			26,401			118,042			106,054
Depreciation and amortization	20,365			21,792			24,167			24,848			23,128			22,496			21,208			20,346			91,172			87,178
General and administrative	7,780			10,166			4,982			4,993			4,738			4,483			5,173			4,991			27,921			19,385
*TOTAL OTHER EXPENSES*	51,125			71,512			57,326			57,172			54,833			53,129			52,917			51,738			237,135			212,617

Income before real estate sales, impairment of real estate and minority interest	27,341			9,320			34,024			32,189			30,865			31,501			31,890			32,654			102,874			126,910
(Loss) gain on sale of real estate (1)	(34		)	186,942			—			—			—			—			—			1,217			186,908			1,217
Impairment of real estate	—			(859		)	—			—			—			—			(43		)	—			(859		)	(43		)
Minority interest in income of consolidated partnership and joint ventures	(178		)	(4,359		)	(1,134		)	(282		)	86			(203		)	(476		)	(260		)	(5,953		)	(853		)
*INCOME FROM CONTINUING OPERATIONS*	27,129			191,044			32,890			31,907			30,951			31,298			31,371			33,611			282,970			127,231

*Discontinued Operations:*
Results of discontinued operations	655			2,022			1,114			1,776			1,726			1,324			2,515			2,371			5,567			7,936
Gain (loss) on sale of discontinued operations (2) (3) (4) (5)	3,111			2,979			6,693			5,004			1,509			(3,093		)	(970		)	1,415			17,787			(1,139		)
Impairment of real estate held for sale	—			—			—			—			—			(88		)	—			—			—			(88		)
*INCOME (LOSS) FROM DISCONTINUED OPERATIONS*	3,766			5,001			7,807			6,780			3,235			(1,857		)	1,545			3,786			23,354			6,709
*NET INCOME*	$	30,895		$	196,045		$	40,697		$	38,687		$	34,186		$	29,441		$	32,916		$	37,397		$	306,324		$	133,940
Preferred dividends	(5,480		)	(5,475		)	(5,471		)	(5,467		)	(5,462		)	(5,458		)	(5,275		)	(5,275		)	(21,888		)	(21,470		)
*NET INCOME AVAILABLE TO COMMON STOCKHOLDERS - BASIC*	25,415			190,570			35,226			33,220			28,724			23,983			27,641			32,122			284,436			112,470
Minority interest in income of consolidated partnership	178			4,359			251			282			44			206			286			260			5,070			796
*NET INCOME AVAILABLE TO COMMON STOCKHOLDERS - DILUTED*	$	25,593		$	194,929		$	35,477		$	33,502		$	28,768		$	24,189		$	27,927		$	32,382		$	289,506		$	113,266

NET INCOME PER COMMON SHARE - BASIC	$	0.24		$	1.84		$	0.34		$	0.32		$	0.28		$	0.24		$	0.28		$	0.32		$	2.75		$	1.11
NET INCOME PER COMMON SHARE - DILUTED	0.24			1.82			0.33			0.32			0.27			0.23			0.27			0.32			2.71			1.10

Weighted average common shares outstanding - basic	104,094			103,460			103,164			102,820			102,684			101,255			100,159			99,419			103,393			100,894
ERP partnership units	2,683			2,369			2,264			1,964			1,651			1,405			1,239			1,363			2,337			1,394
Options and contingently issuable shares	1,015			865			982			1,042			1,117			998			874			1,226			1,003			1,057
Convertible debt	—			89			231			165			—			—			—			—			35			—
Restricted stock	50			52			44			144			—			—			—			—			66			—
Weighted average common shares outstanding - diluted	107,842			106,835			106,685			106,135			105,452			103,658			102,272			102,008			106,834			103,345

(1) For the three months ended March 31, 2004 and the twelve months ended December 31, 2004, balance includes approximately $1.217 million of previously deferred gain incurred in connection with the Company’s sale of 70 percent of its interest in Arapahoe Crossings, L.P. in 2003.

(2) For the three months ended June 30, 2004 and the twelve months ended December 31, 2004, balance includes approximately $3.876 million of previously deferred gain incurred in connection with the Company’s sale of 21.5 acres of land at The Mall at 163rd Street in 2003.

(3) For the three months ended March 31, 2005 and the twelve months ended December 31, 2005, balance includes approximately $3.314 million, which represents the Company’s pro rata share of the gain on the sale of Rodney Village, a property previously owned by Benbrooke Ventures, a joint venture in which the Company previously held a 50 percent interest.

(5) For the three months ended September 30, 2005 and the twelve months ended December 31, 2005, balance includes approximately $2.295 million, which represents the Company’s gain on the sale of its ownership interest in BPR West, L.P., a joint venture in which the Company previously held a 50 percent interest.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Funds from Operations / Capital Expenditures

(In thousands, except per share amounts)

																									Twelve
	Three Months Ended																								Months Ended
	12/31/05			09/30/05			06/30/05			03/31/05			12/31/04			09/30/04			06/30/04			03/31/04			12/31/05			12/31/04
*Funds from Operations: (1)*
Net income available to common stockholders - diluted	$	25,593		$	194,929		$	35,477		$	33,502		$	28,768		$	24,189		$	27,927		$	32,382		$	289,506		$	113,266
*Deduct:*
Minority interest in income of consolidated partnership, excluding gain allocation	(178		)	(3		)	(251		)	(282		)	(44		)	(206		)	(286		)	(260		)	(714		)	(796		)
Net income available to common stockholders - basic	25,415			194,926			35,226			33,220			28,724			23,983			27,641			32,122			288,792			112,470
Add:
Depreciation and amortization
Continuing operations real estate assets	20,365			21,792			24,167			24,848			23,128			22,496			21,208			20,346			91,172			87,178
Discontinued operations real estate assets	385			480			699			840			733			1,064			685			918			2,404			3,400
Pro rata share of joint venture real estate assets	1,592			947			627			565			493			495			268			373			3,732			1,629
Deduct:
Loss (gain) on sale of real estate (2) (3)	34			(186,942		)	—			—			—			—			—			(1,217		)	(186,908		)	(1,217		)
(Gain) loss on sale of discontinued operations (2) (4)	(3,024		)	(451		)	(4,611		)	(3,732		)	(1,509		)	3,169			4,909			(947		)	(11,818		)	5,622
Pro rata share of joint venture (gain) loss on sale of real estate (2)	(366		)	(40		)	—			—			—			12			(4		)	425			(406		)	433
*FUNDS FROM OPERATIONS - BASIC*	44,401			30,712			56,108			55,741			51,569			51,219			54,707			52,020			186,968			209,515
Add:
Minority interest in income of consolidated partnership, excluding gain allocation	178			3			251			282			44			206			286			260			714			796
*FUNDS FROM OPERATIONS - DILUTED*	$	44,579		$	30,715		$	56,359		$	56,023		$	51,613		$	51,425		$	54,993		$	52,280		$	187,682		$	210,311

FUNDS FROM OPERATIONS PER SHARE - BASIC	$	0.43		$	0.30		$	0.54		$	0.54		$	0.50		$	0.51		$	0.55		$	0.52		$	1.81		$	2.08
FUNDS FROM OPERATIONS PER SHARE - DILUTED	0.41			0.29			0.53			0.53			0.49			0.50			0.54			0.51			1.76			2.04

Funds from operations - diluted	$	44,579		$	30,715		$	56,359		$	56,023		$	51,613		$	51,425		$	54,993		$	52,280		$	187,682		$	210,311
Add:
Impairment of real estate	—			859			—			—			—			—			43			—			859			43
Impairment of real estate held for sale	—			—			—			—			—			88			—			—			—			88
*FUNDS FROM OPERATIONS - DILUTED (prior calculation)*	$	44,579		$	31,574		$	56,359		$	56,023		$	51,613		$	51,513		$	55,036		$	52,280		$	188,541		$	210,442

FUNDS FROM OPERATIONS PER SHARE - DILUTED (prior calculation)	$	0.41		$	0.30		$	0.53		$	0.53		$	0.49		$	0.50		$	0.54		$	0.51		$	1.76		$	2.04

Weighted average common shares outstanding - basic	104,094			103,460			103,164			102,820			102,684			101,255			100,159			99,419			103,393			100,894
ERP partnership units	2,683			2,369			2,264			1,964			1,651			1,405			1,239			1,363			2,337			1,394
Options and contingently issuable shares	1,015			865			982			1,042			1,117			998			874			1,226			1,003			1,057
Convertible debt	—			89			231			165			—			—			—			—			35			—
Restricted stock	50			52			44			144			—			—			—			—			66			—
Weighted average common shares outstanding - diluted	107,842			106,835			106,685			106,135			105,452			103,658			102,272			102,008			106,834			103,345

Special Dividend per Common Share (5)	$	—		$	3.00000		$	—		$	—		$	—		$	—		$	—		$	—		$	3.00000		$	—
Dividend per Common share	0.31250			0.31250			0.41250			0.41250			0.41250			0.41250			0.41250			0.41250			1.45000			1.65000
Dividend per Preferred D share	0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			0.97500			3.90000			3.90000
Dividend per Preferred E share	0.47656			0.47656			0.47656			0.47656			0.47656			0.47656			0.47656			0.47656			1.90624			1.90624

Common dividends (6)	$	32,595		$	343,310		$	42,689		$	42,523		$	42,419		$	42,295		$	41,347		$	41,263		$	461,159		$	167,324
Preferred D dividends (7)	1,668			1,663			1,659			1,654			1,650			1,646			1,463			1,463			6,644			6,222
Preferred E dividends	3,812			3,812			3,812			3,812			3,812			3,812			3,812			3,812			15,248			15,248
*TOTAL DISTRIBUTIONS*	$	38,075		$	348,785		$	48,160		$	47,989		$	47,881		$	47,753		$	46,622		$	46,538		$	483,051		$	188,794

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Funds from Operations / Capital Expenditures

(In thousands, except footnotes)

																	Twelve
	Three Months Ended																Months Ended
	12/31/05		09/30/05		06/30/05		03/31/05		12/31/04		09/30/04		06/30/04		03/31/04		12/31/05		12/31/04
*Capital Expenditures (8):*
New development	$	683	$	1,171	$	3,778	$	3,726	$	610	$	937	$	218	$	—	$	9,358	$	1,765
Building additions and expansions (9)	34,043		55,329		31,662		26,794		32,355		24,017		18,299		22,311		147,828		98,981
Building improvements capitalized (10)	2,245		2,609		2,673		1,764		3,079		4,332		3,763		908		9,291		12,082
Tenant improvements	2,425		1,641		2,116		1,691		1,810		2,068		2,838		3,735		7,873		10,451
Leasing commissions	1,420		2,299		1,845		2,335		1,831		2,218		1,471		2,697		7,067		8,217
*TOTAL CAPITAL EXPENDITURES*	$	40,816	$	63,049	$	42,074	$	36,310	$	39,685	$	33,572	$	26,589	$	29,651	$	181,417	$	131,496

Straight line rents (8)	$	2,042	$	1,043	$	2,585	$	1,206	$	2,050	$	2,194	$	1,449	$	1,896	$	6,876	$	7,589

Capitalized interest (8)	$	3,311	$	1,762	$	2,181	$	1,230	$	1,833	$	1,587	$	1,748	$	1,268	$	8,484	$	6,436

(1) Funds from Operations (“FFO”) is a widely used performance measure for real estate companies and is provided here as a supplemental measure of operating performance. The Company calculates FFO in accordance with the best practices described in the April 2002 National Policy Bulletin of the National Association of Real Estate Investment Trusts (the “White Paper”). The White Paper defines FFO as net income (computed in accordance with GAAP), excluding gains (or losses) from sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.

On October 1, 2003, the National Association of Real Estate Investment Trusts (“NAREIT”), based on discussions with the Securities and Exchange Commission (“SEC”), provided revised guidance regarding the calculation of FFO. This revised guidance provides that impairments should not be added back to net income in calculating FFO and that original issuance costs associated with preferred stock that has been redeemed should be factored into the calculation of FFO. Prior to this pronouncement, the Company had added back impairments in calculating FFO, in accordance with prior NAREIT guidance, and had not factored in original issuance costs of preferred stock that had been redeemed in the calculation of FFO. The Company presents FFO in accordance with NAREIT’s revised guidance. To assist investors in understanding the impact of these changes, the Company also is presenting FFO in accordance with the methodology historically used by the Company (“prior calculation”).

Given the nature of the Company’s business as a real estate owner and operator, the Company believes that FFO is helpful to investors as a starting point in measuring its operational performance because it excludes various items included in net income that do not relate to or are not indicative of its operating performance such as gains (or losses) from sales of property and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult to compare. The Company also believes that the presentation of FFO consistent with the guidance that was in effect until October 1, 2003 is further helpful to investors because it assists investors in evaluating the Company’s historical operational performance and because it excludes other items included in the revised calculation of FFO such as impairments which also do not relate to and are not indicative of the Company’s operating performance. FFO should not, however, be considered as an alternative to net income (determined in accordance with GAAP) as an indicator of the Company's financial performance, is not an alternative to cash flow from operating activities (determined in accordance with GAAP) as a measure of the Company’s liquidity, and is not indicative of funds available to fund the Company’s cash needs, including its ability to make distributions. In addition, the Company’s computation of FFO may differ in certain respects from the methodology utilized by other REITs to calculate FFO and, therefore, may not be comparable to such other REITs.

(2) Excludes gain / loss on sale of land.

(3) For the three months ended March 31, 2004 and the twelve months ended December 31, 2004, balance includes approximately $1.217 million of previously deferred gain incurred in connection with the Company’s sale of 70 percent of its interest in Arapahoe Crossings, L.P. in 2003.

(4) For the three months ended June 30, 2005 and the twelve months ended December 31, 2005, balance includes approximately $140,000 of final distributions from Benbrooke Ventures, a joint venture in which the Company previously held a 50 percent interest. For the three months ended March 31, 2005 and the twelve months ended December 31, 2005, balance includes approximately $3.314 million, which represents the Company’s pro rata share of the gain on the sale of Rodney Village, a property previously owned by Benbrooke Ventures.

(5) In conjunction with the Galileo Transactions, the Company’s Board of Directors declared a special cash distribution of $3.00 per common share (the “Special Dividend”). The distribution was paid on September 27, 2005 to common stockholders of record on August 25, 2005 and aggregated approximately $310.4 million.

(6) For the three months ended September 30, 2005 and the twelve months ended December 31, 2005, balance includes approximately $310.4 million attributable to the Special Dividend on September 27, 2005 to common stockholders of record on August 25, 2005.

(7) Quarterly and annual dividend amounts for 2005, as well as the annual dividend amount for 2004, include non-cash adjustments to account for the “step-up” of the dividend rate beginning in October 2012.

(8) Includes 100 percent of joint venture properties consolidated in accordance with the provisions of Financial Accounting Standards Board Interpretation No. 46, Consolidation of Variable Interest Entities (“FIN 46”), and the Company’s pro rata share of properties owned by unconsolidated joint ventures.

(9) Revenue-enhancing expenditures.

(10) Nonrevenue-enhancing expenditures such as lighting, painting, parking lots, roofing and signage.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Selected Financial Ratios / Data

(In thousands, except ratios, percentages and per share amounts)

																									Twelve
	Three Months Ended																								Months Ended
	12/31/05			09/30/05			06/30/05			03/31/05			12/31/04			09/30/04			06/30/04			03/31/04			12/31/05			12/31/04
*Debt coverage ratios:*
Interest coverage (EBITDA/interest expense)	2.99		x	1.73		x	3.03		x	3.12		x	3.04		x	3.10		x	3.05		x	3.09		x	2.61		x	3.07		x
Debt service coverage (EBITDA/(interest expense + scheduled principal payments))	2.67		x	1.60		x	2.65		x	2.74		x	2.66		x	2.70		x	2.62		x	2.70		x	2.34		x	2.67		x
Fixed charge coverage (EBITDA/(interest expense + scheduled principal payments + preferred dividends)) (1)	2.24		x	1.43		x	2.28		x	2.34		x	2.27		x	2.29		x	2.25		x	2.31		x	2.02		x	2.28		x
Fixed charge coverage (excluding capitalized interest and scheduled principal payments) (1)	2.22		x	1.48		x	2.40		x	2.52		x	2.41		x	2.46		x	2.43		x	2.49		x	2.10		x	2.45		x

*Debt/equity ratios:*
Total debt/total market capitalization	37.4		%	37.2		%	39.9		%	41.4		%	39.1		%	40.0		%	41.8		%	38.0		%	37.4		%	39.1		%
Total debt/total equity market capitalization	59.6		%	59.3		%	66.3		%	70.6		%	64.1		%	66.6		%	72.0		%	61.3		%	59.6		%	64.1		%
Total debt/total book assets	48.8		%	48.6		%	53.0		%	52.8		%	52.1		%	50.9		%	51.6		%	51.0		%	48.8		%	52.1		%
Total debt/undepreciated book value (2)	43.9		%	43.8		%	47.5		%	47.3		%	46.9		%	45.9		%	46.6		%	46.3		%	43.9		%	46.9		%

*Operating statistics:*
NOI margin (NOI/total rental revenues)	65.46		%	66.82		%	68.40		%	68.12		%	67.32		%	69.10		%	69.88		%	67.81		%	67.29		%	68.51		%
Expense recovery ratio (expense reimbursements/(operating costs + real estate taxes)	68.57		%	68.22		%	73.67		%	66.98		%	64.90		%	65.42		%	71.19		%	67.38		%	69.45		%	67.13		%

Annualized G&A/total assets	0.92		%	1.22		%	0.50		%	0.51		%	0.49		%	0.47		%	0.56		%	0.54		%	0.71		%	0.51		%
G&A/total revenues	6.72		%	8.61		%	3.76		%	3.85		%	3.75		%	3.69		%	4.30		%	4.05		%	5.63		%	3.95		%

*Market capitalization calculations:*
Common shares outstanding	104,305			104,129			103,487			103,074			102,845			102,533			100,235			100,031			104,305			102,845
Operating partnership units outstanding (3)	2,774			2,369			2,264			2,264			1,651			1,609			1,285			1,285			2,774			1,651
Combined shares and operating partnership units outstanding	107,079			106,498			105,751			105,338			104,496			104,142			101,520			101,316			107,079			104,496
Preferred D shares outstanding	1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500			1,500
Preferred E shares outstanding	8,000			8,000			8,000			8,000			8,000			8,000			8,000			8,000			8,000			8,000

Common stock price per share, end of period	$	23.18		$	22.95		$	27.17		$	25.11		$	27.08		$	25.00		$	23.36		$	27.35		$	23.18		$	27.08
Preferred D price per share, end of period	50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00			50.00
Preferred E price per share, end of period	25.15			26.60			25.99			26.14			26.34			25.98			25.30			27.28			25.15			26.34

Common market equity at end of period (3)	$	2,482,091		$	2,444,129		$	2,873,255		$	2,645,037		$	2,829,752		$	2,603,550		$	2,371,507		$	2,770,993		$	2,482,091		$	2,829,752
Preferred market equity at end of period	276,200			287,800			282,920			284,120			285,720			282,840			277,400			293,240			276,200			285,720
Total equity market capitalization	2,758,291			2,731,929			3,156,175			2,929,157			3,115,472			2,886,390			2,648,907			3,064,233			2,758,291			3,115,472
Total debt end of period	1,644,881			1,618,874			2,092,580			2,067,962			1,996,319			1,923,438			1,906,276			1,878,450			1,644,881			1,996,319
*TOTAL MARKET CAPITALIZATION*	$	4,403,172		$	4,350,803		$	5,248,755		$	4,997,119		$	5,111,791		$	4,809,828		$	4,555,183		$	4,942,683		$	4,403,172		$	5,111,791

(1) Includes the Company’s pro rata share of properties owned by unconsolidated joint ventures.

(2) Excludes accumulated depreciation on operating assets.

(3) Equivalent of common stock assuming conversion.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Reconciliation of Selected Non-GAAP Financial Information to Most Directly Comparable GAAP Financial Measure

(Dollars in thousands, except footnotes)

																									Twelve
	Three Months Ended																								Months Ended
	12/31/05			09/30/05			06/30/05			03/31/05			12/31/04			09/30/04			06/30/04			03/31/04			12/31/05			12/31/04
*Net income to EBITDA calculation: (1)*
Net income	$	30,895		$	196,045		$	40,697		$	38,687		$	34,186		$	29,441		$	32,916		$	37,397		$	306,324		$	133,940
Depreciation and amortization
Continuing operations real estate assets	20,365			21,792			24,167			24,848			23,128			22,496			21,208			20,346			91,172			87,178
Discontinued operations real estate assets	385			480			699			840			733			1,064			685			918			2,404			3,400
Pro rata share of joint venture real estate assets	1,592			947			627			565			493			495			268			373			3,732			1,629
State taxes	105			105			(175		)	35			133			133			133			133			70			532
Interest expense
Continuing operations	22,980			39,554			28,177			27,331			26,967			26,150			26,536			26,401			118,042			106,054
Discontinued operations	—			—			—			5			9			58			58			58			5			183
Pro rata share of joint ventures	2,059			1,683			1,099			986			1,070			873			778			744			5,827			3,465
Loss (gain) on sale of real estate (2)	34			(186,942		)	—			—			—			—			—			(1,217		)	(186,908		)	(1,217		)
(Gain) loss on sale of discontinued operations (3)	(3,111		)	(2,979		)	(6,693		)	(5,004		)	(1,509		)	3,093			970			(1,415		)	(17,787		)	1,139
(Gain) loss on sale of joint venture	(366		)	(40		)	—			—			—			12			(4		)	425			(406		)	433
Impairment of real estate
Impairment of real estate	—			859			—			—			—			—			43			—			859			43
Impairment of real estate held for sale	—			—			—			—			—			88			—			—			—			88
*EBITDA*	$	74,938		$	71,504		$	88,598		$	88,293		$	85,210		$	83,903		$	83,591		$	84,163		$	323,334		$	336,867

*Earnings ratios:*
Interest coverage ratio (earnings/interest expense)	2.11		x	5.93		x	2.20		x	2.16		x	2.13		x	2.20		x	2.18		x	2.28		x	3.42		x	2.20		x
Debt service coverage (earnings/(interest expense + scheduled principal payments))	1.88		x	5.47		x	1.93		x	1.90		x	1.87		x	1.91		x	1.88		x	1.99		x	3.06		x	1.91		x
Fixed charge coverage (earnings/(interest expense + scheduled principal payments + preferred dividends))	1.55		x	4.85		x	1.65		x	1.62		x	1.59		x	1.62		x	1.61		x	1.70		x	2.63		x	1.63		x
Fixed charge coverage (excluding capitalized interest and scheduled principal payments)	1.52		x	5.01		x	1.73		x	1.74		x	1.68		x	1.73		x	1.73		x	1.83		x	2.72		x	1.74		x

*Net income to earnings calculation:*
Net income	$	30,895		$	196,045		$	40,697		$	38,687		$	34,186		$	29,441		$	32,916		$	37,397		$	306,324		$	133,940
Deduct:
Income from discontinued operations	(3,766		)	(5,001		)	(7,807		)	(6,780		)	(3,235		)	1,857			(1,545		)	(3,786		)	(23,354		)	(6,709		)
Equity in income of unconsolidated ventures	(2,160		)	(755		)	(441		)	(689		)	(410		)	(314		)	(559		)	(230		)	(4,045		)	(1,513		)
Add:
Minority interest in income of consolidated partnership and joint ventures	178			4,359			1,134			282			(86		)	203			476			260			5,953			853
Interest expense	22,980			39,554			28,177			27,331			26,967			26,150			26,536			26,401			118,042			106,054
Distributed income of investments in unconsolidated joint ventures	—			—			—			—			—			50			—			159			—			209
Interest component of rental expense	277			319			284			241			140			120			99			97			1,121			456
*EARNINGS*	$	48,404		$	234,521		$	62,044		$	59,072		$	57,562		$	57,507		$	57,923		$	60,298		$	404,041		$	233,290

*Fixed charge calculation:*
Interest expense	$	22,980		$	39,554		$	28,177		$	27,331		$	26,967		$	26,150		$	26,536		$	26,401		$	118,042		$	106,054
Scheduled principal payments	2,808			3,284			3,991			3,755			3,876			3,942			4,239			3,852			13,838			15,909
Preferred dividends	5,480			5,475			5,471			5,466			5,462			5,458			5,275			5,275			21,892			21,470
*FIXED CHARGE*	$	31,268		$	48,313		$	37,639		$	36,552		$	36,305		$	35,550		$	36,050		$	35,528		$	153,772		$	143,433

Capitalized interest	$	3,311		$	1,762		$	2,181		$	1,230		$	1,833		$	1,587		$	1,748		$	1,268		$	8,484		$	6,436

(1) EBITDA is a widely used performance measure. We compute EBITDA as the sum of net income before extraordinary item, depreciation and amortization, income taxes, interest expenses, gain (loss) on sale of real estate and sale of discontinued operations, and impairment of real estate. Given the nature of the Company’s business as a real estate owner and operator, the Company believes that the use of EBITDA as opposed to Earnings in various financial ratios is helpful to investors as a measure of our operational performance because EBITDA excludes various items included in Earnings that do not relate to or are not indicative of our operating performance, such as gains and losses on sales of real estate and real estate related depreciation and amortization, and includes the results of operations of real estate properties that have been sold, or classified as real estate held for sale at the end of the reporting period, which are not included within Earnings. Accordingly, we believe that the use of EBITDA as opposed to Earnings in various ratios provides a meaningful performance measure as it relates to our ability to meet various coverage tests for the stated period. EBITDA should not be considered as an alternative to Earnings as an indicator of our financial performance, or as an alternative to cash flow activities as a measure of our liquidity. Our computation of EBITDA may differ from the methodology utilized by other companies to calculate EBITDA. Investors are cautioned that items excluded from EBITDA are significant components in understanding and assessing the Company’s financial performance.

(2) For the three months ended March 31, 2004 and the twelve months ended December 31, 2004, balances include approximately $1.217 million of previously deferred gain incurred in connection with the Company’s sale of 70 percent of its interest in Arapahoe Crossings, L.P. in 2003.

(3) For the three months ended September 30, 2005 and the twelve months ended December 31, 2005, balance includes approximately $2.295 million, which represents the Company’s gain on the sale of its ownership interest in BPR West, L.P, a joint venture in which the Company previously held a 50 percent interest. For the three months ended June 30, 2005 and the twelve months ended December 31, 2005, balance includes approximately $140,000 of final distributions from Benbrooke Ventures, a joint venture in which the Company previously held a 50 percent interest. For the three months ended March 31, 2005 and the twelve months ended December 31, 2005, balance includes approximately $3.314 million, which represents the Company’s pro rata share of the gain on the sale of Rodney Village, a property previously owned by Benbrooke Ventures. For the three months ended June 30, 2004 and the twelve months ended December 31, 2004, balance includes approximately $3.876 million of previously deferred gain incurred in connection with the Company’s sale of 21.5 acres of land at The Mall at 163rd Street in 2003.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Summary of Outstanding Debt

(Dollars in thousands, except footnotes)

		Outstanding		Actual	Maturity	Percent of
	Lender	Balance		Interest Rate	Date	Total Indebtedness

*Fixed Rate Debt:*

Secured Mortgage Indebtedness
Alexis Park	SECORE Financial	$	4,275	9.390%	10/01/06	0.26	%
Montebello Plaza	Nationwide Life Insurance	1,665		9.625%	03/05/07	0.10	%
Crown Point	Jackson National Life Insurance	6,761		8.120%	05/01/07	0.41	%
Skyway Plaza	LaSalle National Bank	3,457		9.250%	05/01/07	0.21	%
Dickson City Crossings I	General American Life Insurance Co.	11,717		8.650%	12/01/07	0.72	%
Dickson City Crossings II	General American Life Insurance Co.	2,342		8.870%	12/01/07	0.14	%
Silver Pointe	Nomura Asset Capital Corporation	7,086		7.500%	03/11/08	0.43	%
Hillside Village Center	Wells Fargo Bank, N.A.	4,282		6.900%	04/01/08	0.26	%
42 properties (REMIC)	SECORE Financial	147,912		6.670%	06/01/08	9.03	%
Marketplace	Heller Financial, Inc.	9,044		6.880%	08/01/08	0.55	%
Festival Center	KeyBank National Association	2,416		8.240%	01/01/10	0.15	%
Sunshine Square	Sun Life Assurance Company	6,979		8.490%	05/31/10	0.43	%
Saddletree Village Shopping Center	Aegon USA Realty	1,449		8.250%	06/01/10	0.09	%
Hampton Village Centre	Deutsche Banc Capital LLC	28,751		8.530%	06/30/10	1.76	%
Hillcrest Shopping Center	General Electric Capital Corporation	16,599		8.110%	07/01/10	1.01	%
Greentree	KeyBank National Association	4,852		8.240%	10/01/10	0.30	%
Habersham Crossing	KeyBank National Association	3,572		8.240%	10/01/10	0.22	%
Merchants Crossing	American Equity Investment	4,958		7.630%	09/14/11	0.30	%
Hunt River Commons	Nationwide Life Insurance	7,062		7.070%	10/01/11	0.43	%
Annex of Arlington	LaSalle National Bank	17,700		7.850%	04/11/12	1.08	%
Chapel Square	American National	1,367		9.250%	02/01/13	0.08	%
Florence Square I	Nationwide Life Insurance	12,827		7.400%	04/01/13	0.78	%
Florence Square II	Nationwide Life Insurance	1,253		8.500%	04/01/13	0.08	%
Florence Square III	Nationwide Life Insurance	968		8.320%	04/01/13	0.06	%
Northgate	State Farm Life Insurance Company	5,352		8.750%	06/30/13	0.33	%
West Ridge Shopping Center	Morgan Stanley Mortgage Capital Inc.	10,921		5.890%	12/09/13	0.67	%
University IV	IDS Life Insurance Company	1,718		8.250%	03/01/15	0.10	%
Riverview Plaza	Protective Life	4,051		8.625%	09/01/15	0.25	%
Lexington Town Square	American Enterprise	1,648		8.500%	10/01/16	0.10	%
Midway Market Square	MONY	15,366		8.180%	12/01/16	0.94	%
Elkhart Market Centre	Protective Life	12,282		7.500%	08/01/18	0.75	%
Covered Bridge	Protective Life	2,547		7.500%	06/01/20	0.16	%
Olympia Corners	Protective Life	5,004		7.500%	06/01/20	0.31	%
Sun Plaza	Protective Life	9,302		7.500%	06/01/20	0.57	%
The Vineyards	Protective Life	7,733		7.500%	06/01/20	0.47	%
Arvada Plaza	American Centurion	2,005		7.670%	05/01/21	0.12	%
Cheyenne Plaza	SAFECO Life Insurance Co.	4,497		7.880%	06/01/21	0.27	%
Karl Plaza	Lehman Brothers Holdings, Inc.	3,766		7.320%	03/01/28	0.23	%
TOTAL FIXED RATE SECURED MORTGAGE INDEBTEDNESS		$	395,486	7.446%		24.15	%

Unsecured Notes
7.35%, 10 Year Unsecured Notes	-	$	30,000	7.350%	06/15/07	1.83	%
7.40%, 10 Year Unsecured Notes	-	150,000		7.400%	09/15/09	9.16	%
4.50%, 7 Year Unsecured Notes (1)	-	150,000		4.500%	02/01/11	9.16	%
5.125%, 7 Year Unsecured Notes	-	125,000		5.125%	09/15/12	7.63	%
5.50%, 10 Year Unsecured Notes	-	50,000		5.500%	11/20/13	3.05	%
5.30%, 10 Year Unsecured Notes	-	100,000		5.300%	01/15/15	6.11	%
5.25%, 10 Year Unsecured Notes	-	125,000		5.250%	09/15/15	7.63	%
3.75%, 20 Year Unsecured Notes (2)	-	115,000		3.750%	06/01/23	7.02	%
7.97%, 30 Year Unsecured Notes	-	10,000		7.970%	08/14/26	0.61	%
7.65%, 30 Year Unsecured Notes	-	25,000		7.650%	11/02/26	1.53	%
7.68%, 30 Year Unsecured Notes	-	10,000		7.680%	11/02/26	0.61	%
7.68%, 30 Year Unsecured Notes	-	10,000		7.680%	11/02/26	0.61	%

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Summary of Outstanding Debt

(Dollars in thousands, except footnotes)

		Outstanding			Actual		Maturity	Percent of
	Lender	Balance			Interest Rate		Date	Total Indebtedness

6.90%, 30 Year Unsecured Notes	-	25,000			6.900	%	02/15/28	1.53	%
6.90%, 30 Year Unsecured Notes	-	25,000			6.900	%	02/15/28	1.53	%
7.50%, 30 Year Unsecured Notes	-	25,000			7.500	%	07/30/29	1.53	%

TOTAL FIXED RATE UNSECURED NOTES		$	975,000		5.637	%		59.54	%

CAPITAL LEASES		$	27,881		7.500	%	06/20/31	1.70	%

*TOTAL FIXED RATE DEBT*		$	1,398,367		6.186	%		85.39	%
*Variable Rate Debt (3):*

Secured Mortgage Indebtedness
Elk Grove Town Center	MetLife	$	14,500		5.660	%	12/01/06	0.89	%
Highland Commons	GE Financial Assurance	3,456			6.375	%	12/01/09	0.21	%
Lexington Road Plaza	Great Northern Insured Annuity	6,340			5.875	%	09/01/11	0.39	%

TOTAL VARIABLE RATE SECURED MORTGAGE INDEBTEDNESS		$	24,296		5.818	%		1.48	%

Credit Agreements
$350 Million Revolving Credit Facility	Bank of America	$	65,000		4.961	%(4)	06/29/07	3.97	%
$150 Million Secured Term Loan	Bank of America	150,000			5.161	%	06/29/07	9.16	%

TOTAL CREDIT AGREEMENTS		$	215,000		5.101	%		13.13	%

*TOTAL VARIABLE RATE DEBT*		$	239,296		5.174	%		14.61	%

*TOTAL DEBT*		$	1,637,663		6.038	%		100.00	%

Net Unamortized Premiums on Mortgages		$	13,871
Net Unamortized Discount on Notes		(4,822		)
Impact of Swap Agreements on Notes (1)		(1,831		)
*TOTAL DEBT - NET*		$	1,644,881

(1) On February 6, 2004, the Company issued $150 million aggregate principal amount of 7-Year Fixed Rate Unsecured Notes with a coupon of 4.50%. As of December 31, 2005, the Company had interest rate swaps that effectively convert the interest rate on $65 million of the notes from a fixed rate to a blended floating rate of 30 basis points over the 6-month LIBOR rate.

(2) On May 19, 2003, the Company completed a public offering of $100 million of 3.75% Convertible Senior Notes due 2023. On June 10, 2003, the underwriters exercised their over-allotment option in full and purchased an additional $15 million of the notes. The notes are convertible into cash, upon the occurrence of certain events, at an initial conversion price of $25.00 per share. The notes may not be redeemed by the Company until June 9, 2008, but are redeemable for cash, in whole or in part, any time thereafter.

(3) As determined by the applicable loan agreement, the Company incurs interest on these obligations using either the 30-day LIBOR rate, which was 4.31% as of December 31, 2005, plus spreads ranging from 65 to 85 basis points, or Moody’s A Corporate Bond Index, which was 5.26% as of December 31, 2005, plus spreads ranging from 12.5 to 37.5 basis points.

(4) In addition to the stated interest rate, the Company also incurs an annual facility fee of 20 basis points.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Debt Maturity Schedule / Debt Covenant Compliance Ratios

(Dollars in thousands, except footnotes)

	Scheduled		Scheduled			Total			Percent of
	Amortization		Maturities			Debt Maturing			Debt Maturing
2006	$	12,171	$	18,684		$	30,855		1.88	%
2007	11,419		268,134		(1)	279,553			17.07	%
2008	9,925		163,710			173,635			10.60	%
2009	8,614		154,810			163,424			9.98	%
2010	8,790		56,309			65,099			3.98	%
2011	7,882		164,299			172,181			10.51	%
2012	7,820		141,386			149,206			9.11	%
2013	6,709		70,437			77,146			4.71	%
2014+	36,127		490,437			526,564			32.15	%
	$	109,457	$	1,528,206		$	1,637,663		100.00	%

	Net Unamortized Premiums on Mortgages					$	13,871
	Net Unamortized Discount on Notes					(4,822		)
	Impact of Swap Agreements on Notes					(1,831		)
	*TOTAL DEBT - NET*					$	1,644,881

Weighted Average Maturity:

	Fixed Rate Debt	Variable Rate Debt	Total Debt
Including capital leases and credit facilities	8.9 years	1.6 years	7.8 years
Excluding capital leases and credit facilities	8.5 years	2.6 years	8.4 years

Debt Covenant Compliance Ratios:

Senior Unsecured Notes Covenant (2)	Required	Actual	Compliance
Total consolidated debt to total asset value	< 60%	45%	Yes
Total secured debt to total asset value	< 40%	16%	Yes
Total unencumbered asset value to total unsecured debt	> 150%	208%	Yes
Consolidated income available for debt service to total annual service charges	> 150%	280%	Yes

Unencumbered Properties Summary (3):

	# of
	Properties	GLA
Unencumbered properties	228	31,515,291
Encumbered properties	83	11,162,002
	311	42,677,293

(1) Scheduled maturities include (i) $65 million, representing the balance of the $350 million revolving credit facility drawn as of December 31, 2005 and maturing June 29, 2007, with a one-year extension option, and (ii) $150 million, representing the balance of the $150 million secured term loan drawn as of December 31, 2005 and maturing June 29, 2007.

(2) For a complete listing of debt covenants related to the Company’s Senior Unsecured Notes, as well as definitions of the above terms, please refer to the Company’s filings with the SEC.

(3) Only includes properties owned by the Company (“Company Portfolio”).

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

2005 Acquisitions

	Property		Purchase	Purchase		Cap-			GLA /	Percent		Year
Property Name	Type (1)	Location	Date	Amount		Rate	NOI (2)		Acres	Leased (3)	Anchor Tenants	Built (4)

*1Q 2005*
Building at Midway Crossing (5)	S	Elyria, OH	01/13/05	$	1,125,000	—	$	—	20,338	0%	—	2005
Brunswick Town Center	S	Brunswick, OH	01/21/05	16,431,000		8.6%	1,405,459		122,989	90%	Home Depot (non-owned)	2004
Hillcrest Shopping Center (6)	S	Spartanburg, SC	02/16/05	35,513,410		8.3%	2,962,257		343,914	91%	Marshalls, Publix, Stein Mart	2005
West Ridge Shopping Center	S	Westland, MI	03/17/05	16,622,250		7.9%	1,313,158		163,131	99%	Mervyn’s (non-owned), Target (non-owned), TEC Furniture, Tile Shop, T.J. Maxx	1989
				$	69,691,660	—	$	5,680,874	650,372

*2Q 2005*
Marketplace at Wycliffe (7) (8) (9)	S	Lake Worth, FL	06/01/05	$	35,734,203	8.5%	$	3,054,023	133,520	98%	Walgreens, Winn-Dixie	2002
Mableton Walk (7) (8)	S	Mableton, GA	06/01/05	—		—	—		105,742	94%	Piccadilly Cafeteria, Publix	1994
				$	35,734,203	8.5%	$	3,054,023	239,262

*3Q 2005*
Market Plaza (10)	S	Plano, TX	07/13/05	$	39,625,000	5.2%	$	2,046,622	161,453	66%	H.E.B Central Market	2002
Surrey Square Mall (11)	S	Norwood, OH	08/26/05	10,450,000		8.4%	874,000		190,323	97%	Kroger	2005
Five land parcels adjacent to Home Depot stores (12)	L	FL, LA, OH	09/07/05	9,287,500		—	—		40.0 acres	—	Home Depot (non- owned)	—
Fashion Place Shopping Center	S	Columbia, SC	09/14/05	6,750,000		11.0%	744,728		149,493	82%	Dollar Tree, Staples, Superpetz, T.J. Maxx	1990
Brandt Pike Place (13)	L	Dayton, OH	09/30/05	1,600,000		—	—		11 acres	—	Kroger (non-owned)	—
				$	67,712,500	—	$	3,665,350	501,269

*4Q 2005*
Building at Victory Square (14)	S	Savannah, GA	10/03/05	$	790,312	—	$	—	13,000	0%	—	2005
Western Hills Plaza	S	Cincinnati, OH	11/03/05	45,588,000		7.1%	3,233,975		430,399	98%	Bed Bath & Beyond, Old Navy, Sears, Staples, T.J. Maxx	1989
Southland Shopping Center	S	Toledo, OH	12/21/05	14,750,000		7.6%	1,125,670		291,221	89%	A.J Wright, Big Lots, Kroger, Sears Hardware	1988
				$	61,128,312	—	$	4,359,645	734,620

		*2005 Total Acquisitions*		$	234,266,675	—	$	16,759,892	2,125,523

(1) L - - Land, S - Shopping Center

(2) Projected NOI for the twelve-month period following the closing date of acquisition.

(3) As of closing date of acquisition.

(4) Year of most recent redevelopment or year built if no redevelopment has occurred.

(5) Total acquisition was comprised of a 20,338 square foot vacant building and 2.5 acres of land immediately adjacent to Midway Crossing, a community shopping center owned by the Company and currently under redevelopment.

(6) Property currently under redevelopment. Cap-rate and NOI calculated on a stabilized basis.

(7) Property acquired from CA New Plan Venture Fund, LLC, a joint venture in which the Company has a 10% interest.

(8) Property acquired as a component of a multi-property transaction. Purchase amount, cap-rate and NOI listed for Marketplace at Wycliffe represent the combined amounts for the acquisition of Marketplace at Wycliffe and Mableton Walk.

(9) On August 10, 2005, this property was sold in connection with the Galileo Transactions.

(10) Property currently being re-tenanted. Expected stabilized cap-rate of 8.5%.

(11) Property currently under redevelopment.

(12) The Company expects to develop approximately 223,240 square feet of retail space on the land parcels.

(13) The Company expects to develop approximately 40,500 square feet of retail space on the land parcel.

(14) Victory Square is a community shopping center that is owned by the Company and currently under redevelopment.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

2005 Joint Venture Acquisitions

	Property		Purchase	Purchase		Cap-			GLA /	Percent		Year
Property Name	Type (1)	Location	Date	Amount		Rate	NOI (2)		Acres	Leased (3)	Anchor Tenants	Built (4)

*1Q 2005*
Westgate / Westgate Mall, LLC (5)	S	Fairview Park, OH	02/25/05	$	25,500,000	—	$	—	55.0 acres	—	Kohl’s	2006
New London Mall / NP/I&G Institutional Retail Company, LLC	S	New London, CT	03/10/05	41,625,000		6.5%	2,686,656		260,396	93%	Homegoods, Marshalls, OfficeMax, ShopRite	2000
				$	67,125,000	—	$	2,686,656	260,396
*2Q 2005*
Westpark Shopping Center / NP/I&G Institutional Retail Company, LLC	S	Glen Allen, VA	05/09/05	$	19,825,000	7.0%	$	1,385,480	118,500	99%	Bloom Brothers Furniture (non-owned), Linens ‘N Things, The Tile Shop, Ukrops (non-owned), Victory Lady	2005
Quail Springs Marketplace / NP/I&G Institutional Retail Company, LLC	S	Oklahoma City, OK	05/18/05	47,630,511		7.4%	3,542,814		294,613	100%	Lowe’s (non-owned), Office Depot, Ross Dress for Less, Ultimate Electronics	2003
				$	67,455,511	7.3%	$	4,928,294	413,113
*3Q 2005*
Meridian Towne Centre / NP/I&G Institutional Retail Company, LLC (6)	S	Okemos, MI	08/17/05	$	14,250,000	6.1%	$	871,624	86,891	90%	Kroger (non-owned), Marshalls, Target (non-owned)	2004
*4Q 2005*
Stateline Square / NPK Redevelopment I, LLC (7)	S	South Haven, MS	10/07/05	$	30,000,000	—	$	—	26.0 acres	—	—	2006
Germantown Square / NPK Redevelopment I, LLC (7)	S	Cordova, TN	10/07/05	—		—	—		18.5 acres	—	—	2006
Riverdale Square / NPK Redevelopment I, LLC (7)	S	North Memphis, TN	10/07/05	—		—	—		17.6 acres	—	—	2006
Conyers Crossroads - Phase II / NP/I&G Institutional Retail Company, LLC (8)	S	Conyers, GA	11/01/05	13,044,762		8.5%	1,111,220		125,719	95%	Belk’s	2005
The Plaza at EastChase / NP/I&G Institutional Retail Company, LLC (9)	S	Montgomery, AL	11/10/05	91,725,000		6.1%	5,624,188		112,285	88%	Cost Plus World Market, Kohl’s (non-owned), PetsMart, Pier 1 Imports, Ross Dress for Less, Target (non-owned)	2003
The Shoppes at EastChase / NP/I&G Institutional Retail Company, LLC (9)	S	Montgomery, AL	11/10/05	—		—	—		246,952	97%	Abercrombie & Fitch, Ann Taylor, Banana Republic, Books-A-Million, Dillard’s (non-owned), Gap and Linens ‘n Things	2002
Southland Shopping Center / Galileo America LLC (10)	S	Middleburg Heights, OH	11/10/05	96,862,000		7.8%	7,577,878		707,456	96%	BJ’s Wholesale Club, Burlington Coat Factory, Giant Eagle, Marc’s	2002
Southland South / Galileo America LLC (10)	S	Middleburg Heights, OH	11/10/05	—		—	—		56,170	90%	Laser Adventure	1970
Tops Plaza / Galileo America LLC (10)	S	North Olmsted, OH	11/10/05	—		—	—		70,003	100%	Tops Market	2002
Tops Plaza / Galileo America LLC (10)	S	North Ridgeville, OH	11/10/05	—		—	—		60,830	100%	Tops Market	2002
Streetsboro Crossing / Galileo America LLC (10)	S	Streetsboro, OH	11/10/05	—		—	—		77,900	100%	Lowe’s (non-owned), Target (non-owned), Tops Market	2002
Ladera / Galileo America LLC	S	Albuquerque, NM	11/10/05	13,786,840		7.3%	1,004,779		126,012	92%	Brooks, Dollar Tree, Great Wall Buffet	1982
Rolling Meadows / NP/I&G Institutional Retail Company, LLC (11)	S	Rolling Meadow, IL	11/29/05	18,325,000		5.2%	958,398		130,436	82%	Jewel-Osco	1990
Stop & Shop Plaza / Galileo America LLC	S	Enfield, CT	12/19/05	16,930,000		8.8%	1,482,166		112,765	100%	Stop & Shop	1988
Great Eastern Shopping Plaza / CA New Plan Acquisition Fund, LLC (12)	S	Northwood, OH	12/21/05	28,250,000		5.9%	1,679,720		339,878	78%	Aldi, Value City Department Store, Value City Furniture	1956
Miracle Mile Shopping Plaza / CA New Plan Acquisition Fund, LLC (12) (13)	S	Toledo, OH	12/21/05	—		—	—		296,396	75%	Big Lots, Kroger, T.J. Maxx	2006
				$	308,923,602	—	$	19,438,349	2,462,802

		*2005 Total Acquisitions*		$	457,754,113	—	$	27,924,923	3,223,202

(1) S - - Shopping Center

(2) Projected NOI for the twelve-month period following the closing date of acquisition.

(3) As of closing date of acquisition.

(4) Year of most recent redevelopment or year built if no redevelopment has occurred.

(5) Property currently under redevelopment. The joint venture plans to redevelop the mall into a large community shopping center with multiple anchors, including the existing Kohl’s.

(6) Property currently being re-tenanted. Expected stabilized cap-rate of 7.2%.

(7) Property acquired as a component of a multi-property transaction and currently under redevelopment. Purchase amount listed for Stateline Square represents the combined amounts for the acquisition of Stateline Square, Germantown Square and Riverdale Square and represents the combined valuation, and includes approximately $5.0 million to be contributed by the Company.

(8) Phase I of the property was acquired by the joint venture in 2004.

(9) Property acquired as a component of a multi-property transaction. Purchase amount, cap-rate and NOI listed for The Plaza at EastChase each represent the combined amounts for the acquisition of The Plaza at EastChase and The Shoppes at EastChase.

(10) Property acquired as a component of a multi-property transaction. Purchase amount, cap-rate and NOI listed for Southland Shopping Center each represent the combined amounts for the acquisition of Southland Shopping Center, Southland South, Tops Plaza, Tops Plaza and Streetsboro Crossing.

(11) Property currently being re-tenanted. Expected stabilized cap-rate of 7.2%.

(12) Property acquired as a component of a multi-property transaction. Purchase amount, cap-rate and NOI listed for Great Eastern Shopping Plaza each represent the combined amounts for the acquisition of Great Eastern Shopping Plaza and Miracle Mile Shopping Plaza.

(13) Property currently under redevelopment.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

2005 Sales to Joint Ventures and Dispositions

	Property		Sale	Sale		Book		Gain /			Cap-			GLA /	Percent	Year
Property Name	Type (1)	Location	Date	Amount		Value		(Loss)			Rate	NOI (2)		Acres	Leased (3)	Built (4)

Sales to Joint Ventures
*3Q 2005*
69 Shopping Centers to Galileo America LLC	S	Varied	08/10/05	$	968,000,000	$	781,058,361	$	186,941,639		7.4%	$	71,632,000	10,375,357	96%	Varied

*4Q 2005*
The Pines to CA New Plan Acquisition Fund, LLC	S	Pineville, LA	10/11/05	$	7,639,000	$	7,652,302	$	(13,302	)	9.5%	$	725,468	179,039	100%	1991
Northshore West to CA New Plan Acquisition Fund, LLC	S	Houston, TX	10/11/05	10,681,000		10,701,991		(20,991		)	9.4%	1,001,140		144,982	86%	1997
				$	18,320,000	$	18,354,294	$	(34,294	)	9.4%	$	1,726,608	324,021

Dispositions
*1Q 2005*
Land at Shops of Riverdale	L	Riverdale, GA	01/14/05	$	1,620,000	$	347,420	$	1,272,580		—	$	—	1 acre	—	—
Jasper Manor	S	Jasper, IN	02/24/05	7,000,000		6,581,950		418,050			8.9%	624,265		194,120	85%	2004
Cavitt Office Building	M	Bryan, TX	03/09/05	100,000		100,000		—			—	—		13,200	0%	2001
				$	8,720,000	$	7,029,370	$	1,690,630		—	$	624,265	207,320

*2Q 2005*
Land at Congress Crossing	L	Athens, TN	04/06/05	$	400,000	$	85,195	$	314,805		—	$	—	1.2 acres	—	—
Village Center	S	Victoria, TX	06/08/05	2,600,000		2,279,753		320,247			11.9%	310,000		118,827	78%	1982
Oswego Plaza	S	Oswego, NY	06/23/05	6,400,000		2,248,669		4,151,331			8.7%	558,593		128,087	97%	1996
				$	9,400,000	$	4,613,617	$	4,786,383		—	$	868,593	246,914

*3Q 2005*
Desiard Plaza	S	Monroe, LA	07/29/05	$	2,725,000	$	2,378,591	$	346,409		9.4%	$	255,000	65,439	93%	1995
Land at North Leg Plaza	L	Augusta, GA	08/02/05	275,000		42,210		232,790			—	—		0.46 acres	—	—
Harbor Plaza	S	Ashtabula, OH	09/01/05	1,800,000		1,727,277		72,723			4.9%	88,192		51,794	36%	2003
Fondren	S	Houston, TX	09/19/05	5,150,000		5,117,833		32,167			9.3%	479,632		45,873	98%	1999
				$	9,950,000	$	9,265,911	$	684,089		—	$	822,824	163,106

*4Q 2005*
Valley Fair Mall (5)	M	West Valley City, UT	10/11/05	$	35,000,000	$	33,386,269	$	1,613,731		7.9%	$	2,781,004	607,075	99%	1987
Valley Fair Apartments (5) (6)	M	West Valley City, UT	10/11/05	—		—		—			—	—		—	—	1975
Northland	S	Watertown, NY	10/25/05	2,335,000		2,339,727		(4,727		)	5.0%	116,832		132,032	27%	2004
Windsor Village	S	Austin, TX	11/03/05	6,500,000		5,537,735		962,265			9.7%	629,021		114,776	85%	1997
Land at Kentwood	P	Kentwood, MI	11/07/05	173,000		85,711		87,289			—	—		0.7 acres	—	—
Victorian Square	S	Midlothian, VA	12/16/05	15,250,000		14,797,169		452,831			8.7%	1,331,294		271,235	97%	1991
				$	59,258,000	$	56,146,612	$	3,111,388		—	$	4,858,151	1,125,118

*2005 Total Sales to Joint Ventures and Dispositions*				$	1,073,648,000	$	876,468,164	$	197,179,836		—	$	80,532,441	12,441,836

(1) L - - Land, M - Miscellaneous, P - Outparcel, S - Shopping Center

(2) Projected recurring property NOI as of closing date of sale.

(3) As of closing date of sale.

(4) Year of most recent redevelopment or year built if no redevelopment has occurred.

(5) Property sold as a component of a multi-property transaction. Sale amount, book value, gain, cap-rate and NOI listed for Valley Fair Mall each represent the combined amounts for the sale of Valley Fair Mall and Valley Fair Apartments.

(6) Valley Fair Apartments is comprised of 16 units and is located adjacent to Valley Fair Mall.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

2005 Joint Venture Dispositions

							Company’s
	Property		Transaction	Sale	Sale		Share of		Book		Gain /		Cap-			GLA /	Percent	Year
Property Name	Type (1)	Location	Description	Date	Amount		Sale Amount		Value		(Loss)		Rate	NOI (2)		Acres	Leased (3)	Built (4)

*1Q 2005*
Rodney Village / Benbrooke Ventures (5)	S	Dover, DE	Sale of property	01/12/05	$	10,075,000	$	8,139,609	$	7,017,958	$	3,057,042	9.3%	$	936,975	211,568	93%	2003

*2Q 2005*
Land at BPR West, L.P. (6)	L	Frisco, TX	Sale of land parcel	05/03/05	$	2,996,420	$	2,996,420	$	1,229,523	$	1,766,897	—	$	—	3.4 acres	—	—

*3Q 2005*
Land / BPR West, L.P. (7)	L	Frisco, TX	Sale of land parcel	08/01/05	$	4,333,099	$	4,333,099	$	2,037,991	$	2,295,108	—	$	—	9.3 acres	—	—
Conway Plaza / Galileo America LLC (8)	S	Conway, SC	Sale of property	08/16/05	800,000		40,000		759,503		40,497		—	—		32,875	—	1985
					$	5,133,099	$	4,373,099	$	2,797,494	$	2,335,605	—	$	—	32,875

*4Q 2005*
Ladera / CA New Plan Venture Fund, LLC	S	Albuquerque, NM	Sale of property	11/10/05	$	13,786,840	$	1,378,684	$	6,525,626	$	7,261,214	7.3%	$	1,004,779	126,012	92%	1982
Lady’s Island / Galileo America LLC	S	Beaufort, SC	Sale of property	12/29/05	3,900,000		195,000		3,845,010		54,990		3.2%	124,800		60,687	23%	1983
					$	17,686,840	$	1,573,684	$	10,370,636	$	7,316,204	6.4%	$	1,129,579	186,699

			*2005 Total Dispositions*		$	35,891,359	$	17,082,812	$	21,415,611	$	14,475,748	—	$	2,066,554	431,142

(1) L - - Land, S - Shopping Center

(2) Projected recurring property NOI as of closing date of sale.

(3) As of closing date of sale.

(4) Year of most recent redevelopment or year built if no redevelopment has occurred.

(5) In connection with the sale of this property, the Company recorded its pro rata share of the gain on sale, approximately $3.314 million. The pro rata share of the gain is included in Gain (loss) on sale of discontinued operations in the Company’s Income Statements, and is greater than the total joint venture gain due to differences between the joint venture’s basis in the property and the Company’s basis in the joint venture.

(6) Net proceeds from the sale of this property were used to repay a portion of the amount outstanding under a construction loan from the Company to the joint venture. Since BPR West, L.P. was considered a consolidated entity under the provisions of FIN 46, the entire gain has been included in Gain (loss) on sale of discontinued operations in the Company’s Income Statements.

(7) Represents the sale of the Company’s ownership interest in BPR West, L.P., a venture which owns 9.3 acres of undeveloped land in Frisco, Texas. The Company previously held a 50 percent interest in the venture. The entire gain has been included in Gain (loss) on sale of discontinued operations in the Company’s Income Statements.

(8) Property under contract to sell prior to closing of the Galileo Transactions.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Redevelopment / Outparcel Development

							Construction				Expected		Expected
				Adjusted	Percent		Expected	Expected	Percent		Total		Stabilized Return
		Location	Project Description	GLA	Leased (1)		Start Date	Completion Date	Complete		Project Cost		on Cost (2)
*Company Redevelopment Activities*
	Community and Neighborhood Shopping Centers
1	Ivyridge	Philadelphia, PA	Construction of a 47,000 SF Super Fresh, 8,000 SF of retail shops and façade renovation	106,888	94	%	Apr-03	Feb-06	71	%	$	7,818,276	10.0	%
2	Market Place	Piqua, OH	Construction of a 69,133 SF Kroger and addition of 9,600 SF of new retail space	179,604	63	%	May-03	Dec-06	99	%	2,976,895		10.3	%
3	Sunshine Square	Medford, NY	Construction of a 65,000 SF Stop & Shop and façade renovation	221,982	75	%	Jun-03	Oct-06	88	%	5,844,713		15.2	%
4	The Mall at 163rd Street (3)	Miami, FL	Sale of 21.5 acres of land to Wal-Mart for construction of Wal-Mart Supercenter and redevelopment of remaining enclosed regional mall into shopping center	361,246	66	%	Jul-03	Feb-06	85	%	28,267,450		10.6	%
5	Colonial Marketplace	Orlando, FL	Redevelopment and renovation of shopping center with a 50,000 SF LA Fitness and the creation of a 30,000 SF junior anchor space and 4,600 SF of retail shops on an outparcel	140,581	99	%	Jul-04	Jul-06	88	%	8,194,124		11.1	%
6	Price Chopper Plaza	Rome, NY	Redevelopment of shopping center related to relocation of Price Chopper to Mohawk Acres	78,401	71	%	Sep-04	Jan-07	5	%	1,184,505		10.1	%
7	Merchants Crossing	Newnan, GA	Redevelopment of former Kmart into a multi-tenant building	170,100	57	%	Dec-04	Jul-06	97	%	925,922		10.7	%
8	Tinton Falls Plaza	Tinton Falls, NJ	Renovation of former Burlington Coat Factory with expansion of WOW Fitness by 11,077 SF, the addition of Velocity Sports Med in 16,612 SF and the creation of 12,973 SF of small shop space	100,582	72	%	Dec-04	Jul-06	60	%	2,326,957		10.7	%
9	Culpepper Plaza	College Station, TX	Renovation of shopping center with new junior anchors to replace former Safeway	178,004	50	%	Dec-04	Feb-06	41	%	2,464,322		10.9	%
10	Midway Crossing	Elyria, OH	Redevelopment of former 20,338 SF Kids R Us and development of pad site into a 10,000 SF Darden restaurant	165,253	94	%	Jan-05	Apr-06	66	%	1,942,547		13.1	%
11	Friendswood Square	Friendswood, TX	Reconfiguration of shopping center and addition of a new 14,560 SF Walgreens	62,767	100	%	Jan-05	May-06	91	%	4,476,887		9.5	%
12	Riverview Plaza	Gadsden, AL	Reconfiguration of former Wal-Mart into a 55,000 SF Hobby Lobby, 12,000 SF Dollar Tree and 22,000 SF of retail shops and façade improvements	154,621	59	%	Apr-05	Nov-06	30	%	3,689,896		10.3	%
13	Hillcrest Shopping Center	Spartanburg, SC	Redevelopment of former Kmart into a 30,187 SF Ross Dress for Less, a 20,000 SF Office Depot, a 15,000 SF PETCO and Panera Bread	329,529	94	%	Apr-05	Apr-06	87	%	4,959,705		10.3	%
14	Chapman-Ford Crossing	Knoxville, TN	Redevelopment of former Wal-Mart into a 60,000 SF First Tennessee Bank and two junior anchors	219,683	70	%	May-05	Oct-06	9	%	1,255,355		16.0	%
15	Victory Square	Savannah, GA	Phase I of redevelopment with conversion of existing theatre to stadium seating and renovation of shopping center	119,014	99	%	Jun-05	Mar-06	37	%	3,369,054		13.3	%
16	Pyramid Mall	Geneva, NY	Demolition of mini-mall and retenanting of former Kmart with a 30,000 SF Big Lots	207,299	54	%	Jun-05	Aug-06	37	%	3,646,457		9.4	%
17	Merchants Park	Houston, TX	Reconfiguration of shopping center to accommodate addition of a new 30,000 SF Ross Dress for Less and a 9,000 SF O’Reilly Auto	195,694	98	%	Jun-05	Feb-06	67	%	1,884,672		10.9	%
18	Brooksville Square	Brooksville, FL	Redevelopment of former Kmart into a 45,600 SF Publix Supermarket and 14,400 SF of new retail shops	156,361	50	%	Jul-05	Dec-06	3	%	6,703,075		10.1	%
19	Festival Center	Bradley, IL	Redevelopment of former Fleming Supermarket into a 30,000 SF Big Lots and 14,000 SF of medical office space	63,796	77	%	Jul-05	Dec-06	70	%	814,272		13.0	%
20	Liberty Plaza	Randallstown, MD	Redevelopment of shopping center with the addition of a 162,000 SF Wal-Mart	58,800	72	%	Jul-05	Dec-06	3	%	2,090,973		10.3	%
21	South Towne Centre	Dayton, OH	Redevelopment of former Kmart into a multi-tenant retail building anchored by a 35,000 SF Jo-Ann ETC and two other tenants and façade renovation	308,699	76	%	Jul-05	Dec-06	7	%	7,350,994		12.5	%
22	Picadilly Square	Louisville, KY	Renovation of shopping center to create an orientation to a newly opened roadway and façade improvements	96,370	92	%	Aug-05	Jul-06	1	%	981,861		17.9	%
23	Renaissance Center East	Las Vegas, NV	Expansion of shopping center by enclosing courtyard area to accommodate a 15,000 SF Dollar Tree	145,985	99	%	Aug-05	Jan-06	75	%	1,624,164		10.0	%
24	Wynnewood Village	Dallas, TX	Redevelopment of shopping center, including demolition of an office building, to accommodate a 30,500 SF Ross Dress for Less, a 16,307 SF Citi Trends and 33,000 SF of new retail shops	464,854	93	%	Sep-05	Sep-06	12	%	4,895,697		10.3	%
25	Regency Park	Jacksonville, FL	Redevelopment of former Rhodes Furniture into a 61,000 SF Hobby Lobby, a 24,000 SF Books A Million and façade renovation	333,948	83	%	Oct-05	May-06	18	%	2,718,312		11.1	%
26	Points West	Brockton, MA	Redevelopment of shopping center with the addition of a 39,500 SF Price Rite Supermarket and façade improvements	144,042	96	%	Oct-05	Jan-07	0	%	3,667,952		10.2	%
27	Surrey Square Mall	Norwood, OH	Redevelopment of partially enclosed shopping center into a large multi-anchored community center with a 76,000 SF Kroger	176,433	64	%	Oct-05	Jul-07	5	%	8,623,774		9.7	%
28	Rising Sun Towne Centre (4)	Rising Sun, MD	Construction of a 73,000 SF Martin’s Food and 9,000 SF of retail shops	149,105	100	%	Nov-05	Dec-07	4	%	10,350,235		10.1	%
29	Presidential Plaza (4)	North Lauderdale, FL	Redevelopment of former Winn-Dixie into a Sedano’s grocery and renovation of shopping center	88,306	47	%	Dec-05	Dec-06	0	%	672,817		11.5	%
30	Southfield Plaza (4)	Bridgeview, IL	Construction of two new retail stores totaling 18,000 SF and façade improvements	198,331	99	%	Jan-06	Aug-06	0	%	1,112,872		13.3	%

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Redevelopment / Outparcel Development

							Construction				Expected		Expected
				Adjusted	Percent		Expected	Expected	Percent		Total		Stabilized Return
		Location	Project Description	GLA	Leased (1)		Start Date	Completion Date	Complete		Project Cost		on Cost (2)
31	West Towne Square (4)	Elizabethton, TN	Reconfiguration of former Winn-Dixie with new retail space and the creation of two outparcels	99,224	50	%	Jan-06	Jul-07	0	%	2,993,122		10.0	%

								*Total / Weighted Average*			$	139,827,857	10.9	%
	Miscellaneous Properties
32	Pointe*Orlando	Orlando, FL	Remerchandise and signficantly renovate property, including the creation of feature plazas on International Drive and the addition of restaurant anchors	435,000	56	%	Jul-05	Dec-06	5	%	$	44,373,987	10.0	%

*Joint Venture Redevelopment Activities*
	*Community and Neighborhood Shopping Centers*
33	Stone Mountain Festival	Stone Mountain, GA	Redevelopment and renovation of shopping center with the addition of a 52,570 SF Hobby Lobby	353,575	95	%	Sep-04	Dec-06	20	%	$	3,896,995	12.2	%
34	Westgate (5)	Fairview Park, OH	Redevelopment of existing enclosed mall into a large multi-anchored community shopping center, including an existing Kohl’s	380,000	—		Jun-05	Sep-07	10	%	50,000,000		10.0	%
35	Stateline Square (4)	South Haven, MS	Redevelopment of former SuperK into a community shopping center	178,000	—		Jan-06	Dec-07	0	%	7,526,999		10.1	%
36	Miracle Mile Shopping Plaza (4)	Toledo, OH	Expansion of Kroger into new 105,000 SF prototype and renovate shopping center	317,046	75	%	Jan-06	Dec-07	0	%	1,552,687		10.2	%
37	Germantown Square (4)	Cordova, TN	Redevelopment of former SuperK into a community shopping center	148,000	—		Jan-06	Dec-07	0	%	8,452,950		10.0	%
38	Riverdale Square (4)	North Memphis, TN	Redevelopment of former SuperK into a community shopping center	178,000	—		Jan-06	Dec-07	0	%	9,904,132		10.1	%

								*Total / Weighted Average*			$	81,333,763	10.1	%

*Company Outparcel Development Activities*
39	Cordele Square	Cordele, GA	Renovate existing theatre to accommodate a 10,000 SF stadium theatre	126,427	97	%	Aug-05	Feb-06	10	%	$	1,056,786	10.8	%
40	Tarpon Mall	Tarpon Springs, FL	Construction of a 6,300 SF Goodyear Tire and 7,800 SF of retail space	140,765	96	%	Sep-05	Aug-06	1	%	2,231,331		10.5	%
41	Florence Square	Florence, KY	Construction of 8,500 SF of retail space, including a 3,500 SF Vitamin Shoppe and a 2,500 SF Qdoba	369,751	95	%	Sep-05	Jul-06	16	%	2,029,325		11.6	%
42	Cortlandville	Cortland, NY	Construction of a 11,500 SF Kinney Drug	111,850	72	%	Sep-05	Jun-06	5	%	1,791,392		10.0	%
43	Clearwater Mall (4)	Clearwater, FL	Construction of a 13,500 SF Golfsmith and 2,000 SF of retail space	302,500	96	%	Oct-05	Oct-06	9	%	2,723,847		11.0	%
44	J*Town Center (4)	Jeffersontown, KY	Construction of 15,000 SF of reatil shop space	207,195	88	%	Oct-05	Jan-07	69	%	1,364,843		11.0	%

								*Total / Weighted Average*			$	11,197,524	10.8	%

*Joint Venture Outparcel Development Activities*
45	Roundtree Place	Ypsilanti, MI	Construction of 11,500 SF of retail space, including a 4,550 Cici’s Pizza	206,913	99	%	Oct-05	Oct-06	9	%	$	2,174,903	10.2	%
46	Cortlandt Towne Center (4)	Mohegan Lake, NY	Construction of a 30,000 SF Best Buy	775,260	100	%	Oct-05	Aug-06	13	%	4,935,734		9.7	%

								*Total / Weighted Average*			$	7,110,637	9.9	%

	*TOTAL IN-PROCESS REDEVELOPMENT / OUTPARCEL DEVELOPMENT ACTIVITIES/ WEIGHTED AVERAGE*										$	283,843,768	10.5	%

							Construction				Expected		Expected
					Percent				Percent		Total		Stabilized Return
		Location	Project Description	GLA	Leased (1)		Start Date	Completion Date	Complete		Project Cost		on Cost (2)
*Completed 2005 Company Redevelopment Activities*
	Community and Neighborhood Shopping Centers
1	Tinley Park Plaza	Tinley Park, IL	Redevelopment of former Builders Square parcel with a 76,521 SF main retail building, including a 22,722 SF Staples and 13,200 SF outparcel building	252,974	96	%	Mar-03	Feb-05	100	%	$	5,642,612	9.5	%
2	Dover Park Plaza (6)	Yardville, NJ	Phase II of façade renovation and the replacement of former Acme with multiple retail shops	58,025	98	%	Oct-04	Mar-05	100	%	769,425		11.4	%
3	Hornell Plaza (6)	Hornell, NY	Expansion of Wegman’s by 2,800 SF and relocation of existing tenants to new spaces	253,813	95	%	Sep-04	Mar-05	100	%	617,847		12.8	%
4	Shops at Seneca Mall (6)	Liverpool, NY	Redevelopment of former medical space with a 34,000 SF Big Lots and additional retail shops	230,583	95	%	Oct-04	Mar-05	100	%	1,182,378		11.7	%
5	Sharpstown Plaza	Houston, TX	Redevelopment of former office building into a shopping center anchored by a 33,177 SF Circuit City and 9,947 SF of retail shops	43,630	97	%	Jul-04	Mar-05	100	%	5,347,799		11.2	%
6	Tomball Parkway Plaza (6)	Tomball, TX	Renovation of former Compaq anchored wing of shopping center to accommodate multi-tenant retail shops anchored by a 29,655 SF Big Lots	133,629	98	%	Sep-04	Mar-05	100	%	542,366		11.1	%
7	Washtenaw Fountain Plaza (6)	Ypsilanti, MI	Redevelopment of former Builders Square with a multi-tenant building	135,942	89	%	Jan-04	May-05	100	%	2,509,779		10.0	%
8	Parkway Plaza (6)	Winston-Salem, NC	Conversion of former Bowling Center to a 28,000 SF CitiTrends	286,405	95	%	Jan-05	May-05	100	%	287,000		10.9	%

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - - Quarter Ended December 31, 2005

Redevelopment / Outparcel Development

								Construction				Expected			Expected
						Percent				Percent		Total			Stabilized Return
		Location		Project Description	GLA	Leased (1)		Start Date	Completion Date	Complete		Project Cost			on Cost (2)
9	Wallkill Plaza	Middletown, NY		Phase II redevelopment of former Bradlees into a multi-tenant retail building anchored by a 58,931 SF Ashley Furniture and a 27,000 SF A.J. Wright and shopping center renovation	203,960	92	%	Jul-04	May-05	100	%	3,071,729			11.0	%
10	Orange Grove (6)	Houston, TX		Redevelopment of former Kmart anchored shopping center with the construction of a 35,277 SF 24 Hour Fitness, 8,000 SF of new retail shops and the addition of a 93,633 SF Floor & Décor	190,811	96	%	May-04	Jun-05	100	%	5,896,546			10.5	%
11	Cave Spring Corners	Roanoke, VA		Construction of a 58,000 SF Kroger and 3,300 SF of retail shops in former Ames location	142,752	100	%	May-03	Jun-05	100	%	2,092,753			13.0	%
12	Columbus Center	Columbus, IN		Sale of 12 acres of land to Target for a 126,000 SF store and façade renovation	145,162	87	%	May-03	Aug-05	100	%	4,357,284			12.4	%
13	Western Village	Cincinnati, OH		Construction of a 76,000 SF Kroger and 30,000 SF of retail shops	107,545	100	%	Feb-04	Aug-05	100	%	5,802,868			11.1	%
14	Roxboro Square	Roxboro, NC		Redevelopment of former Wal-Mart anchored center into a town center anchored by Person County	97,226	88	%	Jan-05	Sep-05	100	%	6,007,629			10.1	%
15	Transit Road Plaza	Lockport, NY		Remerchandise former Kmart with a multi-tenant building anchored by a 21,160 SF Office Max and a 29,563 SF Grossman’s Bargain Outlet	147,588	72	%	Mar-04	Sep-05	100	%	5,493,726			10.4	%
16	Mohawk Acres	Rome, NY		Construction of a 70,000 SF Price Chopper and shopping center renovation	161,330	92	%	Sep-04	Sep-05	100	%	3,570,204			10.1	%
17	J*Town Center	Jeffersontown, KY		Phase II of reconfiguration of shopping center with façade renovation of the main building and reposition of shopping center into multi-use retail / office anchored by a 38,380 SF Louisville Athletic Club	207,195	88	%	Sep-03	Oct-05	100	%	6,993,732			13.7	%
18	Village Center	Smithtown, NY		Renovation of shopping center with the addition of Zio Guisseppe’s, a 32,500 SF specialty grocer	97,401	100	%	Oct-04	Oct-05	100	%	2,100,468			11.5	%
19	Texas City Bay	Texas City, TX		Conversion of former Kmart into 96,000 SF British Petroleum office space	229,876	94	%	Jun-05	Oct-05	100	%	6,806,963			10.6	%
20	Rose Pavilion	Pleasanton, CA		Demolition of vacant theatre and construction of a 30,000 SF Broyhill Furniture Store	292,858	100	%	Jan-05	Dec-05	100	%	3,110,590			10.2	%
21	Coconut Creek	Coconut Creek, FL		Phase II redevelopment of north wing of the shopping center with a 36,000 SF Radical Entertainment	265,621	95	%	Apr-05	Dec-05	100	%	751,483			10.2	%
22	Grand Crossing	Brighton, MI		Renovation of VG’s, expansion of Ace Hardware by 4,000 SF and addition of 3,600 SF of new shop space	82,989	100	%	Jan-05	Dec-05	100	%	890,442			10.9	%
23	Greentree Shopping Center	Columbus, OH		Expansion of Kroger to a new 77,116 SF prototype and renovation of shopping center	128,212	96	%	Aug-05	Dec-05	100	%	1,153,675			10.3	%
24	Parkview West	Pasadena, TX		Renovate and remerchandise the shopping center creating high profile small shop space	39,939	96	%	Jun-05	Dec-05	100	%	434,955			10.6	%

									*Total / Weighted Average*			$		75,434,253	11.0	%

*Completed 2005 Company Outparcel Development Activities*
25	Ridgeview Centre	Wise, VA		Construction of a 10,700 SF Social Security office	190,242	96	%	Jan-04	Jun-05	100	%	$	1,592,813		10.7	%
26	Elkhart Market Centre	Goshen, IN		Construction of a 7,800 SF Pet Supplies Plus	362,470	99	%	Oct-04	Sep-05	100	%	950,290			12.3	%

									*Total / Weighted Average*			$		2,543,103	11.3	%

*Completed 2005 Joint Venture Redevelopment Activities*
	Community and Neighborhood Shopping Centers
27	Marrero Shopping Center	Marrero, LA		Expansion of Winn-Dixie to 48,960 SF	69,259	100	%	Jul-04	Mar-05	100	%	$	1,729,410		13.1	%
28	Clinton Crossing	Clinton, MS		Redevelopment of former Wal-Mart with a 46,873 SF grocer and 14,000 SF of retail shops	87,698	36	%	Apr-04	Jun-05	100	%	6,837,878			14.9	%
29	Galleria Commons	Henderson, NV		Redevelopment of former House To Home with a 85,000 SF Burlington Coat Factory and additional retail shops	276,460	95	%	Jul-03	Jul-05	100	%	3,542,363			11.0	%
30	Westminster City Center	Westminster, CO		Reconfiguration of the northend of the shopping center with a downsized 15,803 SF Golfsmith and a new 11,043 SF Pier 1	343,110	100	%	Apr-05	Sep-05	100	%	1,239,277			10.0	%
31	Delta Center	Lansing, MI		Redevelopment of former Farmer Jack into a 53,921 SF Hobby Lobby	186,246	89	%	Sep-05	Dec-05	100	%	518,169			13.5	%
32	The Crossing at Fry Road	Katy, TX		Expansion of Hobby Lobby by 15,576 SF and façade renovation	222,705	98	%	Dec-04	Dec-05	100	%	344,954			12.8	%

									*Total / Weighted Average*			$		14,212,051	13.2	%

			*TOTAL COMPLETED REDEVELOPMENT / OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE*									$	92,189,407		11.4	%

		*TOTAL REDEVELOPMENT / OUTPARCEL DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE*										$	376,033,175		10.7	%

(1) Includes all leases in effect at December 31, 2005, including those that are fully executed, but not yet open, and is based on current GLA, not adjusted GLA.

(2) Incremental projected income (new income less existing income) / incremental cost. Where a space is vacant and generating no current income, the estimated “as is” market rent is deducted from the projected new rent to determine incremental income. Does not include peripheral impacts, such as the impact on the long-term value of the property.

(3) Expected total project cost less land sales as adjusted, primarily for the inclusion of peripheral land development costs.

(4) Indicates project added during the quarter ended December 31, 2005.

(5) Expected total project cost includes the costs incurred in acquiring the property.

(6) Subsequent to completion, this property was contributed to a joint venture.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

New Development Activities

						Construction					Expected		Expected
				Adjusted	Percent	Expected	Expected	Percent			Total		Stabilized Return
		Location	Project Description	GLA	Leased	Start Date	Completion Date	Complete			Project Cost		on Cost (1)
*Company New Development Activities*
	Community and Neighborhood Shopping Centers
1	Apopka Commons	Apopka, FL	Develop 64,000 SF of retail shops anchored by Home Depot	64,000	—	Sep-05	Mar-07	31		%	$	9,904,184	10.0	%
2	Nine Mile Square	Pensacola, FL	Develop 71,240 SF of retail shops anchored by Home Depot	71,240	—	Sep-05	Mar-07	45		%	8,538,452		10.6	%
3	Denham Springs Plaza	Denham Springs, LA	Develop 40,000 SF of retail shops and 33,000 SF on three pad sites anchored by Home Depot	73,000	—	Sep-05	Mar-07	38		%	4,317,212		10.1	%
4	Northgate Plaza	Westerville, OH	Develop 15,000 SF of retail shops adjacent to Home Depot and Kroger	15,000	—	Sep-05	Mar-07	29		%	2,435,215		10.5	%
5	Brandt Pike Place	Dayton, OH	Develop 21,000 SF of retail shops and 19,500 SF on three outparcels adjacent to a 69,000 SF Kroger	40,500	—	Oct-05	Nov-06	0		%	4,632,975		10.1	%

							*Total / Weighted Average*				$	29,828,038	10.2%

						Construction					Expected		Expected
					Percent				Percent		Total		Stabilized Return
		Location	Project Description	GLA	Leased (2)	Start Date	Completion Date		Complete		Project Cost		on Cost (1)
*Completed 2005 Company New Development Activities*
	Community and Neighborhood Shopping Centers
1	Unity Plaza	East Fishkill, NY	Development of a 68,162 SF shopping center anchored by A&P Fresh Market	68,162	97%	May-04	Sep-05		100	%	$	14,805,863	9.7	%
2	The Centre at Navarro	Victoria, TX	Phase I development of shopping center anchored by a 29,000 SF Hastings and a 14,490 SF Walgreens	42,710	100%	Jan-05	Dec-05		100	%	11,298,055		10.7	%

							*Total / Weighted Average*				$	26,103,918	10.1	%

			*TOTAL NEW DEVELOPMENT ACTIVITIES / WEIGHTED AVERAGE*								$	55,931,956	10.2	%

(1) Projected income / expected total project cost.

(2) Includes all leases in effect at December 31, 2005, including those that are fully executed, but not yet open, and is based on current GLA, not adjusted GLA.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Type Summary

(Includes 100 Percent of Joint Venture Portfolios)

	# of		Percent		Leased
	Properties	GLA	Leased		GLA	ABR

COMPANY PORTFOLIO

*Stabilized Properties*
Community and Neighborhood Shopping Centers	259	35,901,101	92.9	%	33,336,056	$	288,705,534
Miscellaneous Properties	15	692,265	59.0	%	408,468	1,984,314
	274	36,593,366	92.2	%	33,744,523	$	290,689,848

*Redevelopment Properties*
Community and Neighborhood Shopping Centers	31	5,622,298	78.0	%	4,384,511	$	35,565,027
Miscellaneous Property	1	461,629	55.8	%	257,450	4,647,922
	32	6,083,927	76.3	%	4,641,962	$	40,212,949

*New Development Properties*
Community and Neighborhood Shopping Centers	5	—	—		—	$	—

*COMPANY PORTFOLIO*	311	42,677,293	89.9	%	38,386,485	$	330,902,797

JOINT VENTURE PORTFOLIOS (1)

*Stabilized Properties*
Community and Neighborhood Shopping Centers	157	23,890,502	96.1	%	22,961,688	$	221,901,928
Miscellaneous Properties	2	—	—		—	—
	159	23,890,502	96.1	%	22,961,688	$	221,901,928

*Redevelopment Properties*
Community and Neighborhood Shopping Centers	6	643,613	85.9	%	552,856	$	3,057,694

*JOINT VENTURE PORTFOLIOS (1)*	165	24,534,115	95.8	%	23,514,545	$	224,959,622

*TOTAL PORTFOLIO (1)*	476	67,211,408	92.1	%	61,901,030	$	555,862,420

*TOTAL STABILIZED COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (1)*
	416	59,791,603	94.2	%	56,297,744	$	510,607,463
*TOTAL REDEVELOPMENT / NEW DEVELOPMENT COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (1)*
	42	6,265,911	78.8	%	4,937,368	38,622,721
*TOTAL COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (1)*
	458	66,057,514	92.7	%	61,235,112	549,230,184

COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS ANCHOR, NON-ANCHOR TENANT MIX: (1) (2)

				ABR
		Percent of						Percent of
	Leased	Shopping Centers						Shopping Centers
	GLA	Leased GLA		Amount		Per Foot		ABR
Anchor Tenants	37,911,874	61.9	%	$	259,863,435	$	6.85	47.3	%
Non-anchor Tenants	23,323,238	38.1	%	289,366,749		12.41		52.7	%
	61,235,112	100.0	%	$	549,230,184	$	8.97	100.0	%

(1) Includes 100 percent of properties owned by unconsolidated joint ventures.

(2) Anchor tenants include 1) major discount stores, 2) major grocers, 3) tenants with square footage greater than 10,000 square feet if the shopping center GLA is less than 125,000 square feet and tenants with square footage greater than 25,000 square feet if the shopping center GLA is greater than 125,000 square feet and 4) tenants with square footage greater than 10 percent of the shopping center GLA, but not less than 5,000 square feet.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Type Summary

(Includes Pro Rata Share of Joint Venture Portfolios)

						ABR				Quarterly NOI (1)
								Percent of					Percent of
	# of		Percent		Leased			Total					Company
	Properties	GLA	Leased		GLA	Amount		ABR		Amount			NOI

COMPANY PORTFOLIO

*Stabilized Properties*
Community and Neighborhood Shopping Centers	259	35,901,101	92.9	%	33,336,056	$	288,705,534	82.0	%	$	62,042,472		87.6	%
Miscellaneous Properties	15	692,265	59.0	%	408,468	1,984,314		0.6	%	29,756			0.0	%
	274	36,593,366	92.2	%	33,744,523	$	290,689,848	82.6	%	$	62,072,228		87.6	%

*Redevelopment Properties*
Community and Neighborhood Shopping Centers	31	5,622,298	78.0	%	4,384,511	$	35,565,027	10.1	%	$	8,781,623		12.4	%
Miscellaneous Property	1	461,629	55.8	%	257,450	4,647,922		1.3	%	(3,449		)	0.0	%
	32	6,083,927	76.3	%	4,641,962	$	40,212,949	11.4	%	$	8,778,174		12.4	%

*New Development Properties*
Community and Neighborhood Shopping Centers	5	—	—		—	$	—	0.0	%	—			0.0	%

*COMPANY PORTFOLIO*	311	42,677,293	89.9	%	38,386,485	$	330,902,797	94.0	%	$	70,850,402		100.0	%

JOINT VENTURE PORTFOLIOS (2)

*Stabilized Properties*
Community and Neighborhood Shopping Centers	157	1,960,730	96.0	%	1,881,759	$	20,782,049	5.9	%
Miscellaneous Properties	2	—	—		—	—		—
	159	1,960,730	96.0	%	1,881,759	$	20,782,049	5.9	%

*Redevelopment Properties*
Community and Neighborhood Shopping Centers	6	64,362	85.9	%	55,286	$	305,769	0.1	%

*JOINT VENTURE PORTFOLIOS (2)*	165	2,025,092	95.7	%	1,937,045	$	21,087,819	6.0	%

*TOTAL PORTFOLIO (2)*	476	44,702,385	90.2	%	40,323,530	$	351,990,616	100.0	%

*TOTAL STABILIZED COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (2)*
	416	37,861,831	93.0	%	35,217,815	$	309,487,584
*TOTAL REDEVELOPMENT / NEW DEVELOPMENT COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (2)*
	42	5,686,660	78.1	%	4,439,797	35,870,796
*TOTAL COMMUNITY AND NEIGHBORHOOD SHOPPING CENTERS (2)*
	458	43,548,491	91.1	%	39,657,612	345,358,380

(1) Net operating income (“NOI”) is provided here as a supplemental measure of operating performance. NOI is defined as Property revenues less Property operating expenses, excluding depreciation and amortization and interest expense, and excludes NOI from properties classified as discontinued operations under SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets (“SFAS No. 144”). The Company believes that this presentation of NOI is helpful to investors as a measure of its operational performance because (i) it excludes various items included in net income that do not relate to or are not indicative of its operating performance, such as depreciation and amortization and interest expense, and (ii) it provides a breakdown of NOI being generated on a quarterly basis from the various property types in the Company’s portfolio. NOI should not, however, be considered as an alternative to net income (calculated in accordance with GAAP) as an indicator of the Company’s financial performance. For a reconciliation of NOI to net income please see page 7.

(2) Includes the Company’s pro rata share of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Properties by State / Region - Company Portfolio

							Percent of
	Number of	Percent			Percent of		Scheduled
State	Properties	Leased		GLA	GLA		ABR
Alabama	7	90.0	%	759,414	1.8	%	1.1	%
Arizona	3	86.7	%	596,493	1.4	%	1.3	%
Arkansas	1	100.0	%	60,842	0.1	%	0.1	%
California	11	97.5	%	1,723,699	4.0	%	6.2	%
Colorado	2	98.9	%	363,558	0.9	%	1.4	%
Delaware	1	100.0	%	30,000	0.1	%	0.0	%
Florida	28	86.7	%	4,696,954	11.0	%	12.2	%
Georgia	26	93.3	%	2,862,634	6.7	%	6.4	%
Illinois	9	92.8	%	1,588,969	3.7	%	4.7	%
Indiana	7	86.0	%	984,102	2.3	%	1.6	%
Iowa	2	81.7	%	279,826	0.7	%	0.4	%
Kentucky	9	90.4	%	1,703,887	4.0	%	3.6	%
Louisiana	3	97.5	%	345,215	0.8	%	0.5	%
Maryland	2	78.3	%	282,336	0.7	%	0.6	%
Massachusetts	2	92.5	%	348,917	0.8	%	0.6	%
Michigan	16	94.0	%	2,209,129	5.2	%	6.0	%
Minnesota	1	93.7	%	55,715	0.1	%	0.1	%
Nevada	2	74.7	%	311,512	0.7	%	0.7	%
New Jersey	5	94.0	%	821,675	1.9	%	2.4	%
New Mexico	2	99.7	%	97,684	0.2	%	0.3	%
New York	19	84.8	%	2,568,155	6.0	%	6.0	%
North Carolina	12	92.6	%	1,527,431	3.6	%	2.5	%
Ohio	27	88.2	%	4,567,138	10.7	%	9.7	%
Oklahoma	1	100.0	%	186,851	0.4	%	0.5	%
Pennsylvania	11	85.2	%	2,142,738	5.0	%	5.2	%
Rhode Island	1	100.0	%	148,126	0.3	%	0.4	%
South Carolina	7	94.3	%	1,054,718	2.5	%	2.4	%
Tennessee	14	88.3	%	1,674,113	3.9	%	3.1	%
Texas	68	89.4	%	7,313,492	17.1	%	17.0	%
Utah	1	—		—	0.0	%	0.0	%
Virginia	9	96.5	%	1,018,529	2.4	%	2.3	%
Wisconsin	1	98.4	%	198,419	0.5	%	0.4	%
Wyoming	1	90.7	%	155,022	0.4	%	0.3	%

	311	89.9	%	42,677,293	100	%	100	%

Region (1)
East	78	89.6	%	11,646,512	27.3	%	26.0	%
Midwest	63	90.1	%	10,038,320	23.5	%	23.2	%
South	148	89.5	%	17,899,515	41.9	%	40.9	%
West	22	93.3	%	3,092,946	7.2	%	9.9	%

	311	89.9	%	42,677,293	100	%	100	%

(1) NCREIF Regions

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Properties by State / Region - Joint Venture Portfolios

							Percent of
	Number of	Percent			Percent of		Scheduled
State	Properties	Leased		GLA	GLA		ABR
Alabama	3	94.7	%	419,987	1.7	%	2.6	%
Arizona	2	91.7	%	203,515	0.8	%	0.8	%
Arkansas	1	85.2	%	180,519	0.7	%	0.5	%
California	3	99.1	%	521,549	2.1	%	2.5	%
Colorado	4	98.9	%	1,093,227	4.5	%	5.8	%
Connecticut	12	97.8	%	2,169,782	8.8	%	11.0	%
Florida	14	98.7	%	2,087,526	8.5	%	8.0	%
Georgia	14	97.0	%	2,036,380	8.3	%	7.5	%
Illinois	1	81.8	%	130,436	0.5	%	0.6	%
Indiana	2	87.0	%	178,570	0.7	%	0.4	%
Iowa	1	92.5	%	269,465	1.1	%	0.7	%
Kansas	1	100.0	%	102,648	0.4	%	0.4	%
Kentucky	5	99.5	%	993,136	4.0	%	3.6	%
Louisiana	3	100.0	%	348,536	1.4	%	0.8	%
Maine	2	100.0	%	274,026	1.1	%	0.7	%
Massachusetts	2	100.0	%	126,775	0.5	%	1.0	%
Michigan	6	89.0	%	1,055,676	4.3	%	3.4	%
Mississippi	3	67.9	%	175,419	0.7	%	0.3	%
Nevada	1	94.9	%	276,460	1.1	%	1.2	%
New Hampshire	2	100.0	%	222,438	0.9	%	1.4	%
New Jersey	1	97.9	%	58,025	0.2	%	0.3	%
New Mexico	1	96.1	%	126,012	0.5	%	0.5	%
New York	9	98.8	%	1,998,544	8.1	%	9.4	%
North Carolina	9	97.4	%	990,592	4.0	%	3.8	%
Ohio	11	89.6	%	1,961,624	8.0	%	6.6	%
Oklahoma	1	100.0	%	294,613	1.2	%	1.6	%
Pennsylvania	4	98.5	%	440,197	1.8	%	1.8	%
South Carolina	5	93.4	%	403,080	1.6	%	1.2	%
Tennessee	10	96.0	%	753,716	3.1	%	2.7	%
Texas	21	95.2	%	3,393,524	13.8	%	14.6	%
Virginia	6	99.2	%	612,086	2.5	%	2.5	%
West Virginia	3	93.3	%	360,621	1.5	%	1.0	%
Wisconsin	2	90.2	%	275,411	1.1	%	0.7	%

	165	95.8	%	24,534,115	100	%	100	%

Region (1)
East	60	98.1	%	8,649,302	35.3	%	37.7	%
Midwest	24	89.6	%	3,973,830	16.2	%	12.8	%
South	70	96.0	%	9,690,220	39.5	%	38.6	%
West	11	97.6	%	2,220,763	9.1	%	10.8	%

	165	95.8	%	24,534,115	100	%	100	%

(1) NCREIF Regions

Includes 100 percent of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Properties by State / Region - Total Portfolio

							Percent of
	Number of	Percent			Percent of		Scheduled
State	Properties	Leased		GLA	GLA		ABR
Alabama	10	90.4	%	834,299	1.9	%	1.4	%
Arizona	5	86.7	%	606,669	1.4	%	1.3	%
Arkansas	2	98.1	%	69,868	0.2	%	0.1	%
California	14	97.5	%	1,749,776	3.9	%	5.9	%
Colorado	6	99.1	%	540,921	1.2	%	1.9	%
Connecticut	12	96.4	%	147,548	0.3	%	0.5	%
Delaware	1	0.0	%	30,000	0.1	%	0.0	%
Florida	42	87.1	%	4,864,771	10.9	%	11.9	%
Georgia	40	93.5	%	3,083,908	6.9	%	6.6	%
Illinois	10	92.6	%	1,615,056	3.6	%	4.5	%
Indiana	9	86.0	%	993,031	2.2	%	1.5	%
Iowa	3	82.2	%	293,299	0.7	%	0.4	%
Kansas	1	100.0	%	5,132	0.0	%	0.0	%
Kentucky	14	90.7	%	1,753,544	3.9	%	3.5	%
Louisiana	6	97.7	%	375,057	0.8	%	0.5	%
Maine	2	100.0	%	13,702	0.0	%	0.0	%
Maryland	2	78.3	%	282,336	0.6	%	0.5	%
Massachusetts	4	92.6	%	355,256	0.8	%	0.6	%
Michigan	22	93.8	%	2,274,946	5.1	%	5.8	%
Minnesota	1	93.7	%	55,715	0.1	%	0.1	%
Mississippi	3	57.2	%	13,156	0.0	%	0.0	%
Nevada	3	75.5	%	325,335	0.7	%	0.7	%
New Hampshire	2	100.0	%	11,122	0.0	%	0.0	%
New Jersey	6	94.0	%	824,576	1.8	%	2.2	%
New Mexico	3	99.5	%	103,985	0.2	%	0.3	%
New York	28	85.5	%	2,705,752	6.1	%	6.1	%
North Carolina	21	92.7	%	1,579,912	3.5	%	2.5	%
Ohio	38	88.2	%	4,717,079	10.6	%	9.4	%
Oklahoma	2	100.0	%	245,774	0.5	%	0.7	%
Pennsylvania	15	85.3	%	2,164,748	4.8	%	5.0	%
Rhode Island	1	100.0	%	148,126	0.3	%	0.4	%
South Carolina	12	94.3	%	1,074,873	2.4	%	2.3	%
Tennessee	24	88.4	%	1,711,799	3.8	%	3.0	%
Texas	89	89.7	%	7,679,164	17.2	%	17.2	%
Utah	1	—		—	0.0	%	0.0	%
Virginia	15	96.6	%	1,066,908	2.4	%	2.3	%
West Virginia	3	93.3	%	18,031	0.0	%	0.0	%
Wisconsin	3	97.8	%	212,189	0.5	%	0.4	%
Wyoming	1	90.6	%	155,022	0.3	%	0.3	%

	476	90.2	%	44,702,385	100	%	100	%

Region (1)
East	138	89.9	%	12,176,434	27.2	%	26.0	%
Midwest	87	90.0	%	10,166,447	22.7	%	22.2	%
South	218	89.9	%	18,877,796	42.2	%	41.4	%
West	33	93.6	%	3,481,708	7.8	%	10.4	%

	476	90.2	%	44,702,385	100	%	100	%

(1) NCREIF Regions

Includes the Company’s pro rata share of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Same Property NOI Analysis

Excludes Redevelopment Properties

(Dollars in thousands)

��

Twelve Months Ended

Percent

Three Months Ended

Percent

Three Months Ended

Percent

Three Months Ended

Percent

Three Months Ended

Percent

12/31/05

12/31/04

Change

12/31/05

12/31/04

Change

09/30/05

09/30/04

Change

06/30/05

06/30/04

Change

03/31/05

03/31/04

Change

Analysis Specific Property Statistics:

Number of properties included in analysis	210		210				233		233				236		236				296		296				299		299
Gross leasable area (1)	25,587,846		25,573,437				29,352,408		29,274,180				29,040,059		29,014,830				37,736,016		37,736,016				37,508,768		37,508,768
Percent leased (1)	92.5	%	93.9	%	-1.4	%	93.1	%	94.3	%	-1.2	%	92.7	%	94.6	%	-1.9	%	93.3	%	94.1	%	-0.8	%	92.8	%	93.2	%	-0.4	%

Termination Fees: (2)	$	130		$	166				$	1		$	216				$	59		$	55				$	53		$	(24	)			$	431		$	19

Rental revenues	$	251,412		$	246,608		1.9	%	$	78,223		$	74,163		5.5	%	$	71,019		$	70,388		0.9	%	$	95,055		$	90,401		5.1	%	$	90,655		$	90,748		-0.1	%
Rental operating expenses	76,183			73,062			4.3	%	26,327			23,393			12.5	%	20,259			19,981			1.4	%	28,830			24,916			15.7	%	27,489			28,234			-2.6	%
*SAME PROPERTY NOI (GAAP BASIS)*	$	175,229		$	173,546		1.0	%	$	51,896		$	50,770		2.2	%	$	50,760		$	50,407		0.7	%	$	66,225		$	65,485		1.1	%	$	63,166		$	62,514		1.0	%
Operating margin (GAAP basis)	69.7		%	70.4		%	-0.7	%	66.3		%	68.5		%	-2.1	%	71.5		%	71.6		%	-0.1	%	69.7		%	72.4		%	-2.8	%	69.7		%	68.9		%	0.8	%
Straight-line rent adjustment	2,713			3,157			-14.1	%	1,092			1,052			3.8	%	680			880			-22.7	%	722			1,435			-49.7	%	535			1,185			-54.9	%
*SAME PROPERTY NOI*	$	172,516		$	170,389		1.2	%	$	50,804		$	49,718		2.2	%	$	50,080		$	49,527		1.1	%	$	65,503		$	64,050		2.3	%	$	62,631		$	61,329		2.1	%
Operating margin	68.6		%	69.1		%	-0.5	%	64.9		%	67.0		%	-2.1	%	70.5		%	70.4		%	0.2	%	68.9		%	70.9		%	-1.9	%	69.1		%	67.6		%	1.5	%

*Reconciliation to Most Directly Comparable GAAP Financial Measure:*

Same property rental revenues (1)	$	251,412		$	246,608		$	78,223		$	74,163		$	71,019		$	70,388		$	95,055		$	90,401		$	90,655		$	90,748
Non-same property rental revenues	234,907			243,820			32,859			52,428			44,045			51,427			38,223			30,914			38,327			32,153
*TOTAL RENTAL REVENUES*	486,319			490,428			111,082			126,591			115,064			121,815			133,278			121,315			128,982			122,901
Same property rental operating expenses (1)	76,183			73,062			26,327			23,393			20,259			19,981			28,830			24,916			27,489			28,234
Non-same property rental operating expenses	82,820			81,607			12,034			18,025			17,802			17,837			13,347			11,518			13,586			11,356
*TOTAL RENTAL OPERATING EXPENSES*	159,003			154,669			38,361			41,418			38,061			37,818			42,177			36,434			41,075			39,590

*TOTAL NOI (1)*	327,316			335,759			72,721			85,173			77,003			83,997			91,101			84,881			87,907			83,311

*SAME PROPERTY JOINT VENTURE NOI (1)*	6,534			6,067			1,871			1,649			1,990			1,856			1,799			1,784			1,770			1,684

*SAME PROPERTY DISCONTINUED OPERATIONS NOI*	—			—			—			—			—			—			520			697			—			—

*COMPANY NOI*	320,782			329,692			70,850			83,524			75,013			82,141			88,782			82,400			86,137			81,627

Total other income	19,227			9,835			7,616			2,174			5,819			2,489			2,568			2,407			3,224			2,765
Total other expenses	(237,135		)	(212,617		)	(51,125		)	(54,833		)	(71,512		)	(53,129		)	(57,326		)	(52,917		)	(57,172		)	(51,738		)
Gain on sale of real estate	186,908			1,217			(34		)	—			186,942			—			—			—			—			1,217
Impairment of real estate	(859		)	(43		)	—			—			(859		)	—			—			(43		)	—			—
Minority interest in income of consolidated partnership and joint ventures	(5,953		)	(853		)	(178		)	86			(4,359		)	(203		)	(1,134		)	(476		)	(282		)	(260		)
Income (loss) from discontinued operations	23,354			6,709			3,766			3,235			5,001			(1,857		)	7,807			1,545			6,780			3,786

*NET INCOME*	$	306,324		$	133,940		$	30,895		$	34,186		$	196,045		$	29,441		$	40,697		$	32,916		$	38,687		$	37,397

(1) Includes the Company’s pro rata share of same property properties owned by unconsolidated joint ventures.

(2) Excluded from Property revenues.

NOI and Same Property NOI are provided here as supplemental measures of operating performance. NOI is defined as Property revenues less Property operating expenses, excluding depreciation and amortization and interest expense. For the purpose of these analyses, Same Property NOI excludes the NOI of properties that 1) have undergone or are undergoing redevelopment, 2) were classified as discontinued operations under SFAS No. 144, 3) were acquired during the periods presented or 4) were disposed of during the periods presented. The Company believes that NOI is helpful to investors as a measure of its operational performance because it excludes various items included in net income that do not relate to or are not indicative of its operating performance, such as depreciation and amortization and interest expense. The Company believes that NOI is helpful to investors as a measure of its operational performance because it includes only the NOI of properties that have been owned for the full period presented, which eliminates disparities in net income due to the redevelopment, acquisition or disposition of properties during the particular period presented, and thus provides a more consistent metric for the comparison of the performance of the Company’s properties. NOI and Same Store NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as an indicator of the Company’s financial performance.

Includes community and neighborhood shopping centers only.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Same Property NOI Analysis

Includes Redevelopment Properties

(Dollars in thousands)


	Twelve Months Ended						Percent		Three Months Ended						Percent		Three Months Ended						Percent		Three Months Ended						Percent		Three Months Ended						Percent
	12/31/05			12/31/04			Change		12/31/05			12/31/04			Change		09/30/05			09/30/04			Change		06/30/05			06/30/04			Change		03/31/05			03/31/04			Change
*Analysis Specific Property Statistics:*
Number of properties included in analysis	275			275					289			289					292			292					364			364					363			363
Gross leasable area (1)	37,140,481			37,103,520					39,145,654			39,079,945					39,141,206			29,245,029					50,162,917			50,162,917					49,439,263			49,439,263
Percent leased (1)		90.8	%		91.4	%	-0.6	%		91.1	%		91.7	%	-0.6	%		91.2	%		91.8	%	-0.6	%		91.7	%		92.2	%	-0.5	%		91.9	%		91.5	%	0.4

Termination Fees: (2)	$	2,279		$	1,471				$	1		$	242				$	1,006		$	55				$	949		$	(24	)			$	1,125		$	1,884

Rental revenues	$	363,691		$	352,815		3.1	%	$	102,978		$	96,746		6.4	%	$	94,783		$	93,944		0.9	%	$	125,532		$	118,260		6.1	%	$	117,561		$	116,624		0.8	%
Rental operating expenses	118,860			113,409			4.8	%	35,422			32,149			10.2	%	28,998			29,172			-0.6	%	40,316			34,972			15.3	%	37,753			38,357			-1.6	%
*SAME PROPERTY NOI (GAAP BASIS)*	$	244,831		$	239,406		2.3	%	$	67,556		$	64,597		4.6	%	$	65,785		$	64,772		1.6	%	$	85,216		$	83,288		2.3	%	$	79,808		$	78,267		2.0	%
Operating margin (GAAP basis)	67.3		%	67.9		%	-0.5	%	65.6		%	66.8		%	-1.2	%	69.4		%	68.9		%	0.5	%	67.9		%	70.4		%	-2.5	%	67.9		%	67.1		%	0.8	%
Straight-line rent adjustment	5,087			4,773			6.6	%	2,477			1,304			90.0	%	944			1,532			-38.4	%	1,745			1,673			4.3	%	764			1,427			-46.5	%
*SAME PROPERTY NOI*	$	239,744		$	234,633		2.2	%	$	65,079		$	63,293		2.8	%	$	64,841		$	63,240		2.5	%	$	83,471		$	81,615		2.3	%	$	79,044		$	76,840		2.9	%
Operating margin	65.9		%	66.5		%	-0.6	%	63.2		%	65.4		%	-2.2	%	68.4		%	67.3		%	1.1	%	66.5		%	69.0		%	-2.5	%	67.2		%	65.9		%	1.3	%

*Reconciliation to Most Directly Comparable GAAP Financial Measure:*
Same property rental revenues (1)	$	363,691		$	352,815				$	102,978		$	96,746				$	94,783		$	93,944				$	125,532		$	118,260				$	117,561		$	116,624
Non-same property rental revenues	122,708			137,668					8,139			29,876					20,325			27,901					7,771			3,069					11,437			6,295
*TOTAL RENTAL REVENUES*	486,399			490,483					111,117			126,622					115,108			121,845					133,303			121,329					128,998			122,919
Same property rental operating expenses (1)	118,860			113,409					35,422			32,149					28,998			29,172					40,316			34,972					37,753			38,357
Non-same property rental operating expenses	40,176			41,283					2,979			9,275					9,086			8,651					1,866			1,472					3,325			1,245
*TOTAL RENTAL OPERATING EXPENSES*	159,036			154,692					38,401			41,424					38,084			37,823					42,182			36,444					41,078			39,602

*TOTAL NOI (1)*	327,363			335,791					72,716			85,198					77,024			84,022					91,121			84,885					87,920			83,317

SAME PROPERTY JOINT VENTURE NOI (1)	6,581			6,099					1,866			1,674					2,011			1,881					1,819			1,788					1,783			1,690

SAME PROPERTY DISCONTINUED OPERATIONS NOI	—			—					—			—					—			—					520			697					—			—
*COMPANY NOI*	320,782			329,692					70,850			83,524					75,013			82,141					88,782			82,400					86,137			81,627

Total other income	19,227			9,835					7,616			2,174					5,819			2,489					2,568			2,407					3,224			2,765
Total other expenses	(237,135		)	(212,617		)			(51,125		)	(54,833		)			(71,512		)	(53,129		)			(57,326		)	(52,917		)			(57,172		)	(51,738		)
Gain on sale of real estate	186,908			1,217					(34		)	—					186,942			—					—			—					—			1,217
Impairment of real estate	(859		)	(43		)			—			—					(859		)	—					—			(43		)			—			—
Minority interest in income of consolidated partnership and joint ventures	(5,953		)	(853		)			(178		)	86					(4,359		)	(203		)			(1,134		)	(476		)			(282		)	(260		)
Income (loss) from discontinued operations	23,354			6,709					3,766			3,235					5,001			(1,857		)			7,807			1,545					6,780			3,786

*NET INCOME*	$	306,324		$	133,940				$	30,895		$	34,186				$	196,045		$	29,441				$	40,697		$	32,916				$	38,687		$	37,397

(1) Includes the Company’s pro rata share of same property properties owned by unconsolidated joint ventures.

(2) Excluded from Property revenues.

NOI and Same Property NOI are provided here as supplemental measures of operating performance. NOI is defined as Property revenues less Property operating expenses, excluding depreciation and amortization and interest expense. For the purpose of these analyses, Same Property NOI excludes the NOI of properties that 1) were classified as discontinued operations under SFAS No. 144, 2) were acquired during the periods presented or 3) were disposed of during the periods presented. The Company believes that NOI is helpful to investors as a measure of its operational performance because it excludes various items included in net income that do not relate to or are not indicative of its operating performance, such as depreciation and amortization and interest expense. The Company believes that NOI is helpful to investors as a measure of its operational performance because it includes only the NOI of properties that have been owned for the full period presented, which eliminates disparities in net income due to the acquisition or disposition of properties during the particular period presented, and thus provides a more consistent metric for the comparison of of the performance of the Company’s properties.

NOI and Same Store NOI should not, however, be considered as alternatives to net income (calculated in accordance with GAAP) as an indicator of the Company’s financial performance.

Includes community and neighborhood shopping centers only.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Top Ten Tenants

				GLA as a			ABR as a
		Number of		Percentage of Total			Percentage of Total
	Tenant	Leases	GLA	Portfolio GLA	ABR		Portfolio ABR
1	The Kroger Co. (1)	52	2,293,019	5.1%	$	14,446,224	4.1%
2	Wal-Mart Stores (2)	28	2,194,018	4.9%	8,955,475		2.5%
3	Sears Holding Corp. (3)	36	1,838,903	4.1%	8,433,348		2.4%
4	The TJX Companies (4)	53	1,137,901	2.5%	7,796,664		2.2%
5	Publix Super Markets	23	729,544	1.6%	5,915,431		1.7%
6	Ahold USA (5)	15	577,354	1.3%	5,410,844		1.5%
7	Delhaize America (6)	34	610,915	1.4%	3,843,123		1.1%
8	Safeway, Inc. (7)	11	379,587	0.8%	3,602,067		1.0%
9	Walgreen Co.	21	214,527	0.5%	3,147,669		0.9%
10	Circuit City Stores, Inc.	14	300,416	0.7%	3,009,866		0.9%

		287	10,276,184	23.0%	$	64,560,710	18.3%

(1) Includes King Soopers, Kroger, Ralphs and Smith’s.

(2) Includes Neighborhood Markets, SAM’S CLUBS, Supercenters and Wal-Mart stores.

(3) Includes Kmart, Sears, Sears Essentials and Sears Optical.

(4) Includes A.J. Wright, HomeGoods, Marshalls and T.J. Maxx.

(5) Includes Giant Food, Martin’s, Stop & Shop and Tops Market.

(6) Includes Food Lion, Hannaford Bros., Harveys and Kash n’ Karry.

(7) Includes Dominick’s, Genuardi’s, Randalls and Tom Thumb.

Includes the Company’s pro rata share of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

New Lease Summary

NEW LEASE SUMMARY

					Tenant
			Total New		Improvements		Leasing
	Number	GLA	ABR (1)		Committed		Commissions
1Q 2005	146	831,427	$	8,541,106	$	4,173,449	$	832,309
psf			10.27		5.02		1.00
2Q 2005	144	929,708	$	7,264,731	$	3,972,439	$	723,156
psf			7.81		4.27		0.78
3Q 2005	169	1,107,747	$	11,103,202	$	2,924,763	$	967,104
psf			10.02		2.64		0.87
4Q 2005	198	829,056	$	9,277,731	$	3,588,367	$	690,866
psf			11.19		4.33		0.83

*2005 Total*	657	3,697,938	$	36,186,770	$	14,659,018	$	3,213,435
psf			9.79		3.96		0.87

RENEWAL LEASE SUMMARY (2)

			Total Former		Total New		Increase/(Decrease)
	Number	GLA	ABR		ABR		Total Dollar		Percent
1Q 2005	179	649,413	$	6,409,098	$	6,961,489	$	552,391	8.6%
psf			9.87		10.72		0.85
2Q 2005	201	1,091,531	$	9,216,759	$	9,685,677	$	468,918	5.1%
psf			8.44		8.87		0.43
3Q 2005	156	706,832	$	6,998,884	$	7,428,804	$	429,920	6.1%
psf			9.90		10.51		0.61
4Q 2005	277	980,633	$	10,863,345	$	11,694,498	$	831,153	7.7%
psf			11.08		11.93		0.85

*2005 Total*	813	3,428,409	$	33,488,086	$	35,770,468	$	2,282,382	6.8%
psf			9.77		10.43		0.67

(1) Total new ABR increase over total former ABR was 8.0% in 1Q 2005, 15.0% in 2Q 2005, 19.0% in 3Q 2005, 10.1% in 4Q 2005 and 12.9% for the year ended December 31, 2005, and includes only those spaces that were occupied within the prior two years.

(2) Renewal leases include expiring leases renewed with the same tenant and the exercise of options. All other leases are categorized as new.

Data includes all leases in effect at March 31, 2005, June 30, 2005, September 30, 2005 and December 31, 2005, as applicable, including those that are fully executed, but not yet open.

ABR is presented on a cash basis.

Includes 100 percent of properties owned by unconsolidated joint ventures, excluding Pointe*Orlando, a lifestyle center currently undergoing significant redevelopment.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Lease Expiration Schedule - Company Portfolio

	Number of Leases Expiring	Leased GLA	Percent of GLA	ABR Per Foot		Percent of Total ABR
2006	1,113	4,310,751	11.23%	$	9.01	11.74%
2007	936	4,400,719	11.46%	9.28		12.34%
2008	911	4,211,856	10.97%	9.46		12.04%
2009	674	4,196,927	10.93%	8.96		11.37%
2010	608	5,100,276	13.29%	8.06		12.42%
2011	238	2,670,857	6.96%	7.06		5.70%
2012	99	899,163	2.34%	10.10		2.74%
2013	108	1,508,757	3.93%	8.57		3.91%
2014	95	1,746,595	4.55%	8.36		4.41%
2015	113	2,102,201	5.48%	9.01		5.73%
2016+	235	7,238,383	18.86%	8.05		17.60%

	5,130	38,386,485	100.0%	$	8.62	100.0%

Does not assume exercise of renewal options or base rent escalations over lease term.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Lease Expiration Schedule - Joint Venture Portfolios

	Number of Leases Expiring	Leased GLA	Percent of GLA	ABR Per Foot		Percent of Total ABR
2006	440	1,797,291	7.64%	$	9.80	7.83%
2007	454	1,931,699	8.21%	9.92		8.52%
2008	470	2,718,191	11.56%	9.38		11.33%
2009	373	2,527,686	10.75%	9.04		10.15%
2010	342	2,473,538	10.52%	9.84		10.82%
2011	129	1,196,611	5.09%	9.62		5.12%
2012	86	1,048,580	4.46%	11.00		5.13%
2013	98	1,327,600	5.65%	10.38		6.13%
2014	94	1,565,931	6.66%	9.87		6.87%
2015	88	1,480,734	6.30%	10.01		6.59%
2016+	190	5,446,684	23.16%	8.89		21.52%

	2,764	23,514,545	100.0%	$	9.57	100.0%

Does not assume exercise of renewal options or base rent escalations over lease term.

Includes 100 percent of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Lease Expiration Schedule - Total Portfolio

	Number of Leases Expiring	Leased GLA	Percent of GLA	ABR Per Foot		Percent of Total ABR
2006	1,553	4,449,507	11.03%	$	9.11	11.51%
2007	1,390	4,555,821	11.30%	9.35		12.10%
2008	1,381	4,416,961	10.95%	9.53		11.96%
2009	1,047	4,385,712	10.88%	9.03		11.25%
2010	950	5,386,287	13.36%	8.22		12.58%
2011	367	2,796,210	6.93%	7.28		5.78%
2012	185	987,122	2.45%	10.37		2.91%
2013	206	1,610,799	3.99%	8.81		4.03%
2014	189	1,860,501	4.61%	8.52		4.50%
2015	201	2,239,563	5.55%	9.13		5.81%
2016+	425	7,635,047	18.93%	8.10		17.56%

	7,894	40,323,530	100.0%	$	8.73	100.0%

Does not assume exercise of renewal options or base rent escalations over lease term.

Includes the Company’s pro rata share of properties owned by unconsolidated joint ventures.

The above does not purport to disclose all items required under GAAP.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
COMPANY PORTFOLIO
*Stabilized Properties*

	Community and Neighborhood Shopping Centers

1	Cloverdale Village	Florence	AL	1986	10/27/94	59,407	85%	$	312,926	Big B Drugs, Southern Family Markets
2	Grants Mill Station	Irondale	AL	1991	07/01/98	226,837	97%	1,033,753		Southeastern Salvage, Walmart
3	Payton Park	Sylacauga	AL	1995	07/01/98	231,820	100%	1,436,362		Wal-Mart
4	Broadway Mesa	Mesa	AZ	1985	12/28/90	182,933	96%	712,305		Furniture Factory, Kmart
5	Metro Marketplace	Phoenix	AZ	2001	06/21/91	244,975	71%	1,971,726		Office Max, Toys R Us
6	Northmall Centre	Tucson	AZ	1996	12/31/96	168,585	100%	1,664,753		CompUSA, Cost Plus, JC Penney Home Store, Stein Mart	Sam’s Club
7	Bakersfield Plaza	Bakersfield	CA	1990	06/20/97	213,164	98%	2,109,728		Circuit City, Lassen Natural Foods, Longs Drugs	Mervyn’s
8	Burbank Plaza	Burbank	CA	1988	05/01/89	14,176	100%	355,045		-
9	Carmen Plaza	Camarillo	CA	2000	06/20/97	129,254	100%	1,614,111		24 Hour Fitness Sport, Michael’s, Sav-on Drug	Big Lots, Trader Joe’s
10	Cudahy Plaza	Cudahy	CA	1994	06/20/97	138,430	100%	730,551		Big Lots, Kmart
11	Arbor Faire	Fresno	CA	1993	04/09/97	199,986	96%	2,090,515		Home Depot, PETsMART, Smart & Final	Mervyn’s
12	Broadway Faire	Fresno	CA	1995	04/09/97	60,383	78%	830,125		United Artists
13	Briggsmore Plaza	Modesto	CA	1998	06/20/97	98,945	93%	765,798		Big Lots, Dunhill Furniture, Grocery Outlet	In Shape Health Club
14	Montebello Plaza	Montebello	CA	1996	06/20/97	288,590	96%	3,063,706		99c Only, Circuit City, Max Foods, Office Depot, Sav-On Drugs
15	Metro 580	Pleasanton	CA	2004	09/15/97	176,510	100%	2,421,793		Borders, Kohl’s, Sports Chalet	Wal-Mart
16	Rose Pavilion	Pleasanton	CA	2005	02/27/98	292,858	100%	4,811,269		Levitz Furniture, Macy’s Home Store	Long’s Drugs
17	Bristol Plaza	Santa Ana	CA	2003	06/20/97	111,403	100%	1,785,516		Big Lots, PETCO, Rite Aid, Trader Joe’s	Golfsmith, Michaels
18	Arvada Plaza	Arvada	CO	1994	12/12/02	98,272	100%	499,117		Arc Thrift Store, King Soopers
19	Superior Marketplace	Superior	CO	2004	07/31/02	265,286	99%	3,976,893		Gart Bros. Sporting Goods, Michaels, Office Max, PETsMART, Ross Dress for Less, T.J. Maxx, Wild Oats	Costco, SuperTarget
20	Clearwater Mall	Clearwater	FL	2003	01/30/04	285,519	96%	4,977,456		Linens ‘n Things, Ross Dress for Less	Costco, Lowe’s, Target
21	Coconut Creek	Coconut Creek	FL	2005	03/01/02	265,621	95%	3,017,910		Big Lots, Publix
22	Northgate S.C.	DeLand	FL	1993	06/30/93	186,396	100%	1,302,814		Kmart, Publix
23	Sun Plaza	Ft. Walton Beach	FL	2004	12/12/02	158,118	100%	1,430,189		Circuit City, Office Depot, Publix, T.J. Maxx
24	Holly Hill Shopping Center	Holly Hill	FL	1998	12/12/02	116,096	92%	861,624		Family Dollar, Winn-Dixie
25	The Shoppes at Southside	Jacksonville	FL	2004	12/10/04	109,113	100%	2,192,694		Best Buy, David’s Bridal, Sports Authority
26	Plaza 66	Kenneth City	FL	1995	12/12/02	95,320	94%	721,858		Kash n’ Karry
27	Leesburg Square	Leesburg	FL	1986	12/23/92	91,682	88%	596,056		International Super Buffet
28	Miami Gardens	Miami	FL	1996	10/06/97	244,719	100%	2,345,753		Kmart, Ross Dress for Less, Winn-Dixie
29	Freedom Square	Naples	FL	1995	10/06/97	211,839	99%	1,736,307		Kmart, Publix
30	Southgate	New Port Richey	FL	2004	08/27/97	258,702	90%	1,251,425		Big Lots, Publix, Sticks N Stuff
31	Silver Hills	Orlando	FL	1985	03/01/02	109,001	100%	521,034		AutoZone, Buddy’s Home, Winn-Dixie
32	23rd Street Station	Panama City	FL	1995	07/01/98	98,827	100%	1,049,999		Publix
33	Pensacola Square	Pensacola	FL	1995	12/12/02	142,501	94%	1,047,597		Circuit City, Ethan Allen, Office Max	Books-A-Million, Hobby Lobby
34	Seminole Plaza	Seminole	FL	1995	06/11/98	146,579	100%	902,910		Burlington Coat Factory, T.J. Maxx
35	Eagles Park	St. Petersburg	FL	1986	03/01/02	124,971	83%	850,862		Dollar General, Publix
36	Rutland Plaza	St. Petersburg	FL	2002	11/01/96	149,562	100%	1,191,801		Big Lots, Winn-Dixie
37	Skyway Plaza	St. Petersburg	FL	2002	12/12/02	110,799	99%	907,315		Dollar Tree, Kash n’ Karry, Walgreens
38	Downtown Publix	Stuart	FL	2000	03/01/02	153,909	96%	1,392,801		Publix, Schumacher Music
39	Tarpon Mall	Tarpon Springs	FL	2003	12/12/02	133,211	96%	1,236,709		Publix, T.J. Maxx
40	Southgate Plaza	Albany	GA	1969	07/11/90	59,816	100%	414,469		Bargain Town, Cititrends, OK Beauty Supply, Save-A-Lot
41	Northeast Plaza	Atlanta	GA	2004	12/12/02	442,714	94%	3,555,968		Furniture Plus, Goodwill, Publix
42	North Leg Plaza	Augusta	GA	1997	12/12/02	118,580	97%	580,523		Big Lots, Food Lion
43	Sweetwater Village	Austell	GA	1985	10/27/94	66,197	83%	391,613		Food Depot
44	Cedar Plaza	Cedartown	GA	1994	10/27/94	83,300	100%	575,296		Badcock Furniture, Kroger
45	Covered Bridge	Clayton	GA	2001	12/12/02	61,375	90%	415,414		BI-LO, Family Dollar
46	Southgate Plaza	Cordele	GA	1969	07/11/90	39,262	100%	106,387		America’s Choice Home Furnishings, Fred’s Dollar Store
47	Habersham Crossing	Cornelia	GA	1990	03/01/96	161,278	100%	838,940		B.C. Moore, Wal-Mart
48	Habersham Village	Cornelia	GA	1985	05/06/92	147,182	99%	526,378		Kmart
49	Covington Gallery	Covington	GA	1991	12/30/93	174,857	95%	993,052		Ingles, Kmart
50	Midway Village	Douglasville	GA	1989	05/01/97	74,728	93%	215,520		-

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR	��	Anchor Tenant (4)	Anchor Tenant Not Owned (4)
51	Westgate	Dublin	GA	2004	07/11/90	118,938	94%	600,058		Beall’s, Big Lots, Food Max	Home Depot
52	Mableton Walk	Mableton	GA	1994	06/01/05	105,742	94%	1,021,873		Piccadilly Cafeteria, Publix
53	Marshalls at Eastlake	Marietta	GA	1982	10/26/98	55,193	100%	463,411		Marshalls
54	New Chastain Corners	Marietta	GA	2004	07/17/97	113,079	97%	1,134,707		Kroger
55	Pavilions at Eastlake	Marietta	GA	1996	03/01/99	159,088	86%	1,542,882		Ace Hardware, Kroger
56	Village at Southlake	Morrow	GA	1983	04/13/98	53,384	96%	419,886		Family Dollar, Marshalls
57	Creekwood Shopping Center	Rex	GA	1990	05/01/97	69,778	100%	598,744		Food Depot
58	Shops of Riverdale	Riverdale	GA	1995	02/15/96	16,808	100%	268,932		-	Wal-Mart
59	Eisenhower Square	Savannah	GA	1997	07/16/97	125,120	100%	928,392		Eisenhower Cinema, Food Lion
60	University Commons	Statesboro	GA	1994	07/24/96	59,814	100%	576,555		-
61	Stockbridge Village	Stockbridge	GA	1991	04/29/04	188,203	100%	2,746,167		Kroger
62	Tift-Town	Tifton	GA	1965	07/11/90	58,818	84%	224,508		Bealls Outlet, Family Dollar, Salvation Army
63	Westgate	Tifton	GA	1980	07/11/90	16,307	92%	131,386		Dollar General
64	Haymarket Mall	Des Moines	IA	2002	05/12/95	239,508	95%	1,159,795		Burlington Coat Factory, Hobby Lobby
65	Annex of Arlington	Arlington Heights	IL	1999	08/26/04	197,328	99%	2,463,659		Barnes & Noble, PetsMart, Sports Authority, Trader Joe’s
66	Pershing Plaza	Decatur	IL	1986	12/12/02	90,109	97%	384,033		Big Lots, Hobby Lobby
67	Elk Grove Town Center	Elk Grove Village	IL	1998	01/30/04	131,849	93%	1,886,860		Dominick’s Foods, Walgreen
68	Freeport Plaza	Freeport	IL	2000	12/12/02	87,846	94%	454,006		Cub Foods, Stone’s Hallmark
69	Westridge Court	Naperville	IL	2002	07/18/97	453,666	85%	5,069,954		Borders, CompUSA, Cub Foods, Linens ‘n Things, Marshalls, Nova 8 Theatre
70	Olympia Corners	Olympia Fields	IL	1988	12/12/02	113,070	99%	1,058,810		Jewel-Osco
71	Tinley Park Plaza	Tinley Park	IL	2005	09/20/95	252,974	96%	2,274,055		T.J. Maxx, Walt’s Food Center
72	Columbus Center	Columbus	IN	2005	12/01/88	145,162	87%	1,040,222		Big Lots, Office Max, T.J. Maxx	Target
73	Elkhart Plaza West	Elkhart	IN	1997	12/12/02	81,651	100%	663,906		CVS, Martin’s Super Market
74	Elkhart Market Centre	Goshen	IN	1994	12/12/02	362,470	99%	2,180,674		Sam’s Wholesale Club, Wal-Mart
75	Valley View Plaza	Marion	IN	1997	03/28/94	29,974	79%	267,326		-	Goody’s, Wal-Mart
76	Town Fair	Princeton	IN	1991	02/09/93	119,439	100%	491,025		Goody’s, Kmart
77	Knox Plaza	Vincennes	IN	1989	12/12/02	72,914	90%	318,408		-	Big Lots
78	Wabash Crossing	Wabash	IN	1988	12/16/93	172,492	41%	410,667		Tractor Supply
79	Florence Plaza	Florence	KY	1985	12/12/02	170,404	72%	741,072		Hobby Lobby	Toys R Us
80	Florence Square	Florence	KY	2000	03/17/04	374,380	95%	3,773,557		HomeGoods, Kroger, National Amusement, Staples, T.J. Maxx
81	Highland Commons	Glasgow	KY	1992	03/31/93	130,466	100%	770,287		Food Lion, Kmart
82	J*Town Center	Jeffersontown	KY	2005	10/21/88	207,195	88%	969,804		Louisville Athletic Club
83	Mist Lake Plaza	Lexington	KY	1993	07/01/98	217,292	78%	1,367,248		Wal-Mart
84	Eastgate Shopping Center	Louisville	KY	2002	11/10/93	162,041	97%	1,322,620		Kincaid Home Furnishings, Kroger
85	Towne Square North	Owensboro	KY	1988	12/12/02	163,161	99%	1,081,223		Books-A-Million, Hobby Lobby, Office Depot
86	Lexington Road Plaza	Versailles	KY	1994	04/28/94	182,578	97%	1,202,766		Kmart, Kroger
87	Iberia Plaza	New Iberia	LA	1992	03/01/02	132,107	96%	660,615		Stage, Super 1 Foods
88	Lagniappe Village	New Iberia	LA	1990	07/01/98	213,108	98%	1,058,458		Big Lots
89	Holyoke Shopping Center	Holyoke	MA	2000	12/12/02	204,875	90%	1,174,883		Stop & Shop
90	Maple Village	Ann Arbor	MI	2000	10/14/94	288,046	90%	1,555,213		Dunham’s, Kmart
91	Grand Crossing	Brighton	MI	2005	01/03/03	82,989	100%	814,040		ACO Hardware, VG’S Food
92	Farmington Crossroads	Farmington	MI	1986	12/11/95	93,886	88%	596,492		Farmer Jack
93	Silver Lake	Fenton	MI	1996	01/03/03	77,302	100%	1,013,495		Glik’s, VG’S Food	Kmart
94	Silver Pointe Shopping Center	Fenton	MI	1996	11/23/04	86,141	94%	1,077,518		Sears Hardware Store
95	Fremont	Fremont	MI	1995	01/03/03	40,800	100%	230,817		Glik’s
96	Cascade East	Grand Rapids	MI	1983	01/03/03	99,542	93%	761,722		D&W Food Center, Powerhouse Gym
97	Kentwood	Kentwood	MI	1987	01/03/03	78,007	68%	385,659		D&W Food Center
98	Hampton Village Centre	Rochester Hills	MI	2004	12/12/95	459,290	94%	4,958,525		Best Buy, Kohl’s, Star Theatre, T.J. Maxx	Target
99	Hall Road Crossing	Shelby Township	MI	1999	12/12/95	175,763	100%	2,042,774		Gander Mountain, Michaels, Old Navy, T.J. Maxx
100	Southfield Shopping Center	Southfield	MI	2002	02/12/98	106,948	100%	1,130,498		Dollar Castle, Farmer Jack	Burlington Coat Factory, Marshalls, Staples
101	18 Mile & Ryan	Sterling Heights	MI	1997	01/03/03	98,728	100%	1,337,645		Murray’s Auto Parts, Sears Hardware, VG’S Food
102	Delco Plaza	Sterling Heights	MI	1996	11/14/96	154,853	92%	764,334		Babies R Us, Bed Bath & Beyond, Dunham’s

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR	Anchor Tenant (4)	Anchor Tenant Not Owned (4)
103	Harvest Place	Stevensville	MI	1994	01/03/03	61,965	96%	512,168	Martin’s Supermarket
104	West Ridge Shopping Center	Westland	MI	1989	03/17/05	163,131	99%	1,443,934	TEC Furniture, Tile Shop, T.J. Maxx	Mervyn’s, Target
105	Westland Crossing	Westland	MI	1999	11/16/99	141,738	91%	1,303,235	Grand Prix of America, Michaels	Toys R Us
106	University IV	Spring Lake Park	MN	1988	12/12/02	55,715	94%	459,470	Northwest Bookstore, Party America, The Gym
107	Stanly County Plaza	Albemarle	NC	1988	03/28/94	63,637	95%	462,738	Ingles	Wal-Mart
108	Village Marketplace	Asheboro	NC	1991	04/13/95	87,869	91%	622,386	Big Lots	Hobby Lobby
109	Macon Plaza	Franklin	NC	2001	12/12/02	92,787	98%	404,891	BI-LO, Peebles
110	Foothills Market	Jonesville	NC	1996	06/05/95	49,630	96%	263,762	Food Lion
111	Chapel Square	Kannapolis	NC	1992	12/01/94	45,450	91%	298,022	CVS, Food Lion	Wal-Mart
112	Kinston Pointe	Kinston	NC	2001	07/05/95	250,580	97%	707,009	Dollar Tree, Wal-Mart
113	Roxboro Square	Roxboro	NC	2005	06/05/95	97,226	88%	1,067,960	Person County
114	Siler Crossing	Siler City	NC	1988	06/05/95	132,639	92%	555,671	Belk-Yates
115	Crossroads Center	Statesville	NC	1997	02/27/96	340,190	97%	1,932,845	Big Lots, Wal-Mart
116	Thomasville Crossing	Thomasville	NC	1996	04/18/97	78,509	97%	650,345	Eckerd, Lowes Food
117	Anson Station	Wadesboro	NC	1988	08/23/95	132,353	95%	713,478	B.C. Moore, Food Lion, Wal-Mart
118	Roanoke Landing	Williamston	NC	1991	01/02/96	156,561	70%	704,578	Wal-Mart	Belk’s
119	Laurel Square	Brick	NJ	2003	07/13/92	246,235	97%	1,863,004	Kmart, Pathmark
120	Hamilton Plaza-Kmart Plaza	Hamilton	NJ	1972	05/12/94	149,060	99%	849,910	Hamilton Home Furnishings, Kmart
121	Bennetts Mills Plaza	Jackson	NJ	2002	09/01/94	127,230	100%	1,355,345	Stop & Shop
122	Middletown Plaza	Middletown	NJ	2002	01/01/75	198,568	95%	2,886,102	ShopRite
123	Paseo del Norte	Albuquerque	NM	2004	03/01/02	49,684	99%	331,995	Wal-Mart
124	Kietzke Center	Reno	NV	1986	06/20/97	167,296	54%	823,704	Ric’s Furniture	Ashley Furniture, Sportsman Warehouse
125	Cortlandville	Cortland	NY	2003	08/04/87	111,850	72%	272,130	Big Lots, Country Max, Kinney Drugs
126	Kmart Plaza	De Witt	NY	1970	08/03/93	115,500	100%	597,775	Kmart, Office Max
127	D & F Plaza	Dunkirk	NY	1967	01/01/86	201,025	89%	892,741	Big Lots, Quality Markets
128	Unity Plaza	East Fishkill	NY	2005	04/28/04	68,162	97%	1,048,150	A&P Fresh Market
129	Elmira Plaza	Elmira	NY	2001	02/13/89	50,803	100%	171,152	Big Lots, Dollar General
130	Cayuga Mall	Ithaca	NY	1969	05/12/89	205,381	99%	1,201,573	Eckerd, P&C Foods, T.J. Maxx
131	Transit Road Plaza	Lockport	NY	2005	08/03/93	147,588	72%	676,236	Dollar Tree, Grossman’s Bargain Outlet, OfficeMax, Save-A-Lot
132	Wallkill Plaza	Middletown	NY	2005	12/12/95	203,960	92%	1,638,541	A.J. Wright, Ashley Furniture, ShopRite
133	Monroe ShopRite Plaza	Monroe	NY	1985	08/01/97	122,394	100%	1,533,125	ShopRite, US Postal
134	Rockland Plaza	Nanuet	NY	2004	01/01/83	249,885	100%	5,294,408	Marshalls
135	South Plaza	Norwich	NY	2004	04/01/83	143,620	72%	349,957	Plaza Lanes, Save-A-Lot, Tractor Supply
136	Westgate Plaza	Oneonta	NY	1967	01/20/84	71,952	65%	187,901	QCS Inet Acquisition Corp., Wal-Mart (warehouse)
137	Mohawk Acres	Rome	NY	2005	01/20/84	161,330	92%	1,239,462	Price Chopper
138	Westgate Manor	Rome	NY	2004	01/01/86	75,813	92%	450,822	Big Lots, Rome Cinemas
139	Village Center	Smithtown	NY	2005	08/19/04	97,401	100%	1,526,979	Eckerd, Zio Giuseppe’s Italian Market
140	Ashland Square	Ashland	OH	1991	10/06/93	163,168	97%	913,466	Wal-Mart
141	Brunswick Town Center	Brunswick	OH	2004	01/21/05	122,989	91%	1,565,595	Giant Eagle	Home Depot
142	Springbrook Plaza	Canton	OH	1989	12/12/02	174,353	93%	1,381,807	Circuit City, OfficeMax	Ashley Furniture, Pat Catan’s Craft
143	Brentwood Plaza	Cincinnati	OH	2004	05/04/94	219,908	98%	1,958,764	A.J. Wright, Kroger
144	Delhi	Cincinnati	OH	2002	05/22/96	166,317	92%	1,464,292	Big Lots, Kroger
145	Harpers Station	Cincinnati	OH	2000	09/11/03	240,681	97%	2,363,314	HomeGoods, Stein Mart, T.J. Maxx
146	Hillcrest Square	Cincinnati	OH	1996	12/12/02	150,218	91%	491,256	Furniture & Mattress Dist. Center, Kroger
147	Western Hills Plaza	Cincinnati	OH	1989	11/03/05	430,399	97%	3,868,710	Bed Bath & Beyond, Old Navy, Sears, Staples, T.J. Maxx
148	Western Village	Cincinnati	OH	2005	05/04/94	107,545	100%	881,850	Kroger
149	Crown Point	Columbus	OH	1998	07/23/98	147,275	100%	1,256,879	Kroger, Lombards
150	Greentree Shopping Center	Columbus	OH	2005	07/23/98	128,212	96%	1,015,890	Kroger
151	Karl Plaza	Columbus	OH	1992	12/12/02	100,396	89%	763,470	Staples, Super Seafood Buffet
152	Heritage Square	Dover	OH	2004	08/31/93	181,732	83%	659,238	Giant Eagle
153	The Vineyards	Eastlake	OH	1989	12/12/02	144,820	97%	1,270,818	Tops Market	Wal-Mart
154	Midway Market Square	Elyria	OH	2001	11/20/02	234,670	100%	2,684,088	Circuit City, Dick’s Sporting Goods, Giant Eagle, Sofa Express	Home Depot, Target
155	New Boston	New Boston	OH	2000	02/17/93	238,711	78%	1,160,819	Wal-Mart
156	Starlite Plaza	Sylvania	OH	2000	07/22/04	222,450	93%	1,686,049	Basset’s IGA

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR	Anchor Tenant (4)	Anchor Tenant Not Owned (4)
157	Alexis Park	Toledo	OH	1988	12/12/02	258,942	72%	681,955	Value City
158	Southland Shopping Plaza	Toledo	OH	1988	12/21/05	291,221	84%	1,367,823	A.J Wright, Big Lots, Kroger, Sears Hardware
159	Marketplace	Tulsa	OK	1992	09/01/04	186,851	100%	1,776,824	CompUSA, Drysdale’s, Oshman’s, PetsMart
160	Bethel Park	Bethel Park	PA	2004	05/14/97	218,714	100%	1,525,499	Giant Eagle, Wal-Mart
161	New Britain Village Square	Chalfont	PA	1989	01/09/04	143,716	98%	1,957,504	Genuardi’s Family Market
162	Dickson City Crossings	Dickson City	PA	1997	09/30/03	301,462	100%	2,756,571	Circuit City, Dick’s Sporting Goods, Home Depot, PETsMART, T.J. Maxx
163	Dillsburg Shopping Center	Dillsburg	PA	2002	10/16/96	146,193	74%	1,496,969	Giant Food
164	New Garden	Kennett Square	PA	2001	06/20/97	146,720	95%	642,463	Acme Markets, Big Lots
165	Stone Mill Plaza	Lancaster	PA	1993	01/06/94	94,493	91%	836,542	Giant Food, Rent-To-Own
166	Roosevelt Mall	Philadelphia	PA	1988	01/01/64	561,799	96%	6,348,406	Strawbridge’s
167	Hampton Square	Southampton	PA	2002	12/29/98	62,933	39%	363,893	Eckerd
168	Hunt River Commons	North Kingstown	RI	1989	12/12/02	148,126	100%	1,431,018	Marshalls, Ocean State Job Lot, Stop & Shop
169	South Park	Aiken	SC	1991	12/12/02	55,583	95%	263,325	Aaron Rents, Fred’s, Goodwill Emporium
170	Fashion Place Shopping Center	Columbia	SC	1990	09/14/05	149,493	82%	929,967	Dollar Tree, Staples, Superpetz, T.J. Maxx
171	Circle Center	Hilton Head	SC	2000	03/24/94	65,313	97%	719,049	BI-LO
172	Palmetto Crossroads	Hilton Head	SC	2000	10/18/95	40,910	100%	330,030	Food Lion, Market Area Real Estate Sales
173	Lexington Town Square	Lexington	SC	1995	12/12/02	75,763	100%	424,297	Animal Supply House, Dollar General, Food Lion, Musicians Supply
174	Festival Centre	North Charleston	SC	2004	12/12/02	323,742	98%	1,911,030	Fred’s, Hamrick’s Apparel, Holiday Inn Worldwide, Piggly Wiggly
175	Congress Crossing	Athens	TN	1990	11/10/88	172,305	100%	1,116,217	BI-LO, Kmart
176	St. Elmo Central	Chattanooga	TN	1995	08/06/96	74,978	100%	677,659	BI-LO, CVS
177	Saddletree Village	Columbia	TN	1990	06/15/98	45,800	92%	274,196	Dollar General, Food Lion
178	Greeneville Commons	Greeneville	TN	2002	03/10/92	228,618	100%	1,611,151	Kmart, Proffitt’s
179	Hazel Path	Hendersonville	TN	1989	11/27/95	67,965	89%	480,961	Food Lion	Wal-Mart
180	Kimball Crossing	Kimball	TN	1997	11/27/95	280,476	98%	1,777,643	Factory Direct Home Furnishing, Wal-Mart
181	Chapman Square	Knoxville	TN	2004	12/12/02	53,591	62%	321,557	Dollar Tree	Kroger
182	Farrar Place Shopping Center	Manchester	TN	1989	12/15/95	43,220	100%	348,153	Dollar General, Food Lion	The Crystal Company
183	Georgetown Square	Murfreesboro	TN	2003	09/29/93	104,117	100%	982,034	Kroger
184	Apison Crossing	Ooltewah	TN	1997	07/29/97	79,048	33%	218,055	Dollar Tree
185	Madison Street Station	Shelbyville	TN	1999	10/11/95	56,766	100%	362,202	BI-LO, Dollar Tree
186	Commerce Central	Tullahoma	TN	1995	08/09/96	182,401	100%	1,254,425	Wal-Mart
187	Palm Plaza	Aransas	TX	1979	03/01/02	52,100	95%	341,553	Bealls (Stage), Family Dollar
188	Bardin Place Center	Arlington	TX	1993	10/06/97	310,184	98%	2,892,281	Hemispheres, Oshman’s	Hobby Lobby
189	Baytown Shopping Center	Baytown	TX	1987	03/01/02	96,146	89%	810,130	-
190	Cedar Bellaire	Bellaire	TX	1994	03/01/02	50,967	100%	478,153	H.E.B. Pantry Foods, ICI Paints
191	El Camino	Bellaire	TX	1972	03/01/02	71,575	100%	384,930	Food City, Family Dollar, Hancock Fabrics
192	Rice Bellaire	Bellaire	TX	2000	03/01/02	20,465	100%	450,256	Walgreens
193	Brenham Four Corners	Brenham	TX	1997	03/01/02	114,571	100%	793,425	CVS, H.E.B., Palais Royal
194	Bryan Square	Bryan	TX	2001	03/01/02	55,115	100%	178,616	Firestone, Kroger
195	Townshire	Bryan	TX	2002	03/01/02	136,693	87%	738,795	Albertsons, Tops Printing
196	Rock Prairie Crossing	College Station	TX	2002	03/01/02	119,041	100%	1,142,084	CVS, Kroger
197	Carmel Village	Corpus Christi	TX	1993	03/01/02	85,833	87%	615,404	Bay Area Dialysis, Bealls (Stage), Tuesday Morning
198	Five Points	Corpus Christi	TX	1993	03/01/02	275,753	96%	1,901,007	Bealls (Stage), Hobby Lobby, Sutherland Lumber
199	Claremont Village	Dallas	TX	1976	03/01/02	66,980	91%	394,237	Family Dollar, Minyard’s
200	Jeff Davis	Dallas	TX	1975	03/01/02	69,563	94%	471,572	Blockbuster, Carnival, Family Dollar, Mama Rosa
201	Stevens Park Village	Dallas	TX	1974	03/01/02	45,492	100%	425,946	Minyard, O’Reilly’s Auto Parts
202	Webb Royal	Dallas	TX	1992	03/01/02	108,545	91%	687,143	Family Dollar, Minyard
203	Westmoreland Heights	Dallas	TX	1952	03/01/02	108,033	98%	634,854	Malone’s
204	Parktown	Deer Park	TX	1999	03/01/02	121,388	94%	757,915	Burke’s Outlet, Gerland’s, Walgreens
205	Kenworthy Crossing	El Paso	TX	2003	03/01/02	70,969	93%	465,466	Albertsons
206	The Market at Preston Ridge	Frisco	TX	2003	09/01/04	50,326	100%	918,228	CompUSA
207	Forest Hills	Ft. Worth	TX	1968	03/01/02	69,651	100%	299,556	Family Dollar, Fiesta, Hi Style Fashion
208	Westcliff	Ft. Worth	TX	1999	03/01/02	133,705	84%	617,040	Cook Children’s Health Foundation, Minyard’s
209	Village Plaza	Garland	TX	2002	03/01/02	89,241	100%	876,808	Truong Nguyen Grocer
210	North Hills Village	Haltom City	TX	1998	03/01/02	43,299	82%	182,130	Ace Hardware, Rent-A-Center, Save-A-Lot

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
211	Highland Village Town Center	Highland Village	TX	1996	03/01/02	99,341	99%	1,126,212		Kroger
212	Antoine Square	Houston	TX	1974	03/01/02	54,512	7%	60,444		-
213	Bay Forest	Houston	TX	2004	03/01/02	71,667	100%	664,032		Kroger
214	Braes Heights	Houston	TX	2003	03/01/02	100,679	90%	1,377,658		CVS
215	Braes Link	Houston	TX	1999	03/01/02	38,997	86%	521,636		Walgreens
216	Braes Oaks	Houston	TX	1992	03/01/02	46,720	84%	300,548		H.E.B. Pantry Foods
217	Braesgate	Houston	TX	1997	03/01/02	91,670	92%	472,757		-
218	Broadway	Houston	TX	1996	03/01/02	74,942	96%	503,709		Dollar General, The Worksource
219	Clear Lake Camino South	Houston	TX	2004	03/01/02	112,412	98%	1,378,860		24 Hour Fitness, CVS, Hancock Fabrics, Mr. Gatti’s Pizza, Spec’s Liquors
220	Hearthstone Corners	Houston	TX	1998	03/01/02	208,147	97%	1,583,550		Big Lots, Kroger, Stein Mart
221	Huntington Village	Houston	TX	1987	03/01/02	111,887	74%	754,653		Family Dollar, Foodtown, Twice Blessed
222	Jester Village	Houston	TX	1988	03/01/02	64,442	71%	396,018		H.E.B. Pantry Foods
223	Lazybrook	Houston	TX	1988	03/01/02	10,745	81%	101,952		-
224	Long Point Square	Houston	TX	2002	03/01/02	74,329	90%	436,240		Family Dollar, Family Thrift, O’Reilly’s Auto Parts
225	Maplewood Mall	Houston	TX	2004	03/01/02	94,356	86%	544,788		Burke’s Outlet, Cox’s Foodarama, Family Dollar
226	North 45 Plaza	Houston	TX	1975	03/01/02	132,239	75%	668,484		-
227	Northgate	Houston	TX	1972	03/01/02	43,244	25%	73,020		Firestone
228	Northshore East	Houston	TX	2001	03/01/02	90,820	100%	1,289,015		Office Depot, River Oaks Imaging & Diagnostic
229	Northtown Plaza	Houston	TX	1990	03/01/02	192,634	100%	1,719,351		Big Lots, Fallas Paredes
230	Northwood	Houston	TX	1972	03/01/02	137,947	97%	950,312		Davis Food City
231	Pinemont	Houston	TX	1999	03/01/02	76,477	90%	839,251		Family Dollar, Houston Community College
232	Sharpstown Plaza	Houston	TX	2005	03/01/02	43,630	97%	607,048		Circuit City
233	Stella Link	Houston	TX	1998	03/01/02	99,727	78%	592,107		Conn’s Clearance, Food City
234	Tanglewilde	Houston	TX	1998	03/01/02	87,309	88%	849,589		Party City, Salon In The Park
235	Tidwell Place	Houston	TX	1991	03/01/02	41,855	63%	302,806		Family Dollar, North Houston Birth Center
236	Westheimer Commons	Houston	TX	1995	03/01/02	249,656	86%	1,568,302		Marshalls, Michaels
237	Irving West	Irving	TX	2004	09/14/93	69,956	94%	456,462		Ko-mart
238	Washington Square	Kaufman	TX	1978	03/01/02	65,907	92%	274,486		Auto Zone, Bealls (Stage), CVS, Family Dollar
239	League City	League City	TX	1992	03/01/02	99,021	90%	515,638		Bealls (Stage), Family Dollar, Jo-Ann Fabrics
240	Jefferson Park	Mount Pleasant	TX	2001	03/01/02	134,441	85%	672,048		Bealls (Stage), Super 1 Foods
241	Crossroads Center	Pasadena	TX	1997	03/01/02	138,943	88%	1,233,464		Kroger, Sears Hardware
242	Parkview East	Pasadena	TX	2002	03/01/02	38,186	93%	316,624		Dollar General, Hancock Fabrics
243	Parkview West	Pasadena	TX	2005	03/01/02	39,939	96%	339,964		Family Dollar, Rent-A-Center
244	Spencer Square	Pasadena	TX	1998	03/01/02	194,512	98%	2,293,996		Kroger
245	Pearland Plaza	Pearland	TX	1995	03/01/02	156,661	100%	1,134,494		Kroger, Palais Royal
246	Market Plaza	Plano	TX	2002	07/13/05	161,453	66%	2,482,143		H.E.B Central Market
247	Klein Square	Spring	TX	1999	03/01/02	80,857	100%	711,914		Family Dollar, Foodtown
248	Texas City Bay	Texas City	TX	2005	03/01/02	229,876	94%	891,129		Kroger
249	The Centre at Navarro	Victoria	TX	2005	03/01/02	42,710	100%	562,500		Walgreens
250	Hanover Square	Mechanicsville	VA	1991	01/06/93	129,987	95%	1,369,453		Toy Works, Ukrops Supermarket	Kohl’s
251	Jefferson Green	Newport News	VA	1988	12/12/02	55,045	100%	759,706		Northern Handyman
252	VA-KY Regional S.C.	Norton	VA	1996	12/30/92	193,238	97%	1,225,355		Goody’s, Ingles
253	Cross Pointe Marketplace	Richmond	VA	1987	12/12/02	73,788	79%	438,899		Food Lion
254	Cave Spring Corners	Roanoke	VA	2005	06/05/97	142,752	100%	702,551		Kroger
255	Lakeside Plaza	Salem	VA	1989	04/15/99	82,033	100%	788,669		CVS, Kroger
256	Lake Drive Plaza	Vinton	VA	2001	02/12/98	148,060	100%	1,033,843		Big Lots, Goodwill, Kroger
257	Ridgeview Centre	Wise	VA	2005	07/02/92	190,242	96%	1,243,245		Food City, Kmart	Belk’s
258	Paradise Pavilion	West Bend	WI	2000	12/12/02	198,419	98%	1,362,910		Hobby Lobby, Kohl’s	ShopKo
259	Cheyenne Plaza	Cheyenne	WY	1995	12/12/02	155,022	91%	982,122		Big Lots, Murdoch’s Ranch & Home Supply	Hobby Lobby
						35,901,101	93%	$	288,705,534

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
	Miscellaneous Properties

1	Kroger	Muscle Shoals	AL	1982	08/10/93	10,069	100%	$	60,414	-
2	Kroger	Muscle Shoals	AL	1982	08/10/93	42,130	100%	252,780		Big Lots
3	Kroger	Scottsboro	AL	1982	08/10/93	42,130	100%	217,391		-
4	Mad Butcher	Pine Bluff	AR	1981	08/10/93	60,842	100%	288,999		-
5	Doverama at Rodney	Dover	DE	1959	01/01/69	30,000	100%	52,500		-
6	Kmart	Atlantic	IA	1980	01/19/94	40,318	0%	-		-
7	Socorro	Socorro	NM	1976	03/01/02	48,000	100%	505,780		Smith’s Food
8	North Central Avenue	Hartsdale	NY	-	07/31/72	LAND	-	-		-
9	Akron Land	Akron	OH	-	09/07/05	LAND	-	-		-
10	Central Avenue Marketplace	Toledo	OH	-	08/14/90	LAND	-	-		-
11	Harveys	Clearfield	PA	1982	08/10/93	31,170	100%	210,000		Penn Traffic
12	Laurel Mall	Connellsville	PA	1970	05/15/01	336,222	42%	373,695		Pechin
13	Yarbrough	El Paso	TX	1995	03/01/02	48,000	0%	-		-
14	Taylorsville	Salt Lake City	UT	-	06/01/99	LAND	-	-		-
15	Pizza Hut	Harrisonburg	VA	1969	07/31/96	3,384	100%	22,755		-
						692,265	59%	$	1,984,314

			*STABILIZED PROPERTIES*			36,593,366	92%	$	290,689,848

*Redevelopment Properties*

	Community and Neighborhood Shopping Centers

1	Riverview Plaza	Gadsden	AL	2005	10/12/95	147,021	59%	$	352,475	-
2	Brooksville Square	Brooksville	FL	2005	03/28/94	191,202	50%	868,417		Publix
3	Regency Park	Jacksonville	FL	2005	06/16/97	333,942	83%	2,157,293		American Signature, Babies R Us, Books A Million, Marshalls
4	The Mall at 163rd Street	Miami	FL	2005	12/31/98	288,250	66%	1,723,021		Marshalls, Office Depot, Ross	Home Depot, Wal-Mart
5	Presidential Plaza	North Lauderdale	FL	2005	04/18/97	88,306	47%	512,566		Family Dollar
6	Colonial Marketplace	Orlando	FL	2005	04/01/98	141,140	99%	811,959		Office Max	Target
7	Merchants Crossing	Newnan	GA	2005	12/12/02	174,059	57%	753,534		Hastings, Kroger
8	Victory Square	Savannah	GA	2005	07/02/92	119,014	99%	1,148,856		Food Lion
9	Festival Center	Bradley	IL	2005	12/12/02	63,796	77%	203,122		-
10	Southfield Plaza	Bridgeview	IL	2005	12/03/96	198,331	99%	1,839,649		Dominick’s Foods, Hobby Lobby
11	Picadilly Square	Louisville	KY	2005	04/25/89	96,370	92%	545,604		Big Lots, Royal Garden Buffet
12	Points West	Brockton	MA	2005	12/12/02	144,042	96%	842,042		HomeGoods, Ocean State Job Lot
13	Liberty Plaza	Randallstown	MD	2005	05/12/95	215,634	72%	1,230,641		Marshalls
14	Rising Sun Towne Centre	Rising Sun	MD	2005	06/04/99	66,702	100%	640,167		Family Dollar, Martin’s
15	Tinton Falls Plaza	Tinton Falls	NJ	2005	01/30/98	100,582	72%	913,986		WOW Fitness	A&P
16	Pyramid Mall	Geneva	NY	2005	08/03/93	239,500	54%	1,021,987		Big Lots, Tops Market
17	Sunshine Square	Medford	NY	2005	12/12/02	223,591	75%	1,478,685		Stop & Shop
18	Price Chopper Plaza	Rome	NY	2005	08/03/93	78,400	71%	356,480		-
19	Renaissance Center East	Las Vegas	NV	2005	10/17/96	144,216	99%	1,571,589		Albertsons
20	South Towne Centre	Dayton	OH	2005	03/27/92	316,169	76%	2,043,916		Borders, Burlington Coat Factory, Value City Furniture
21	Midway Crossing	Elyria	OH	2005	12/11/95	165,035	94%	1,096,361		Dunham’s, Jo-Ann Fabrics, T.J. Maxx	Toys R Us
22	Surrey Square Mall	Norwood	OH	2005	08/26/05	190,323	64%	1,042,595		Kroger
23	Market Place	Piqua	OH	2005	11/20/91	171,604	63%	397,351		Kroger
24	Ivyridge	Philadelphia	PA	2005	08/02/95	99,316	94%	778,138		-
25	Hillcrest Shopping Center	Spartanburg	SC	2005	02/16/05	343,914	94%	3,235,477		Marshalls, Publix, Stein Mart
26	West Towne Square	Elizabethton	TN	2005	06/09/98	99,224	50%	222,827		Dollar Tree
27	Chapman-Ford Crossing	Knoxville	TN	2005	12/30/92	185,604	70%	584,450		Goody’s
28	Culpepper Plaza	College Station	TX	2005	03/01/02	209,760	50%	1,222,122		-
29	Wynnewood Village	Dallas	TX	2005	03/01/02	467,922	93%	3,545,853		Fallas Paredes, Kroger
30	Friendswood Square	Friendswood	TX	2005	03/01/02	77,587	100%	711,893		Dollar General
31	Merchants Park	Houston	TX	2005	03/01/02	241,742	98%	1,711,970		Big Lots, Kroger, Planters Bank

						5,622,298	78%	$	35,565,027

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
	Miscellaneous Properties

1	Pointe*Orlando	Orlando	FL	2005	11/30/99	461,629	56%	$	4,647,922	Foot Locker, Muvico
		*REDEVELOPMENT PROPERTIES*				6,083,927	76%	$	40,212,949

*New Development Properties*

	Community and Neighborhood Shopping Centers
1	Apopka Commons	Apopka	FL	2005	09/07/05	-	-	-		-	Home Depot
2	Nine Mile Square	Pensacola	FL	2005	09/07/05	-	-	-		-	Home Depot
3	Denham Springs Plaza	Denham Springs	LA	2005	09/07/05	-	-	-		-	Home Depot
4	Brandt Pike Place	Dayton	OH	2005	09/30/05	-	-	-		-	Kroger
5	Northgate Plaza	Westerville	OH	2005	09/07/05	-	-	-		-	Home Depot

	*NEW DEVELOPMENT PROPERTIES*					-	-	$	-

	*COMPANY PORTFOLIO*					42,677,293	90%	$	330,902,797

JOINT VENTURE PORTFOLIOS (5)
*Stabilized Properties*

	Community and Neighborhood Shopping Centers

	*Arapahoe Crossings, L.P.*
1	Arapahoe Crossings	Aurora	CO	2003	09/30/03	466,363	100%	$	6,322,895	Borders, Colorado Theaters, King Soopers, Kohl’s, Linens ‘n Things, Marshalls, Old Navy, Ross Dress for Less

	*BPR Shopping Center, L.P.*
2	The Centre at Preston Ridge	Frisco	TX	2003	09/28/98	734,257	97%	11,878,939		Best Buy, DSW Shoe Warehouse, Linens ‘n Things, Marshalls, Old Navy, Ross Dress for Less, Stein Mart, T.J. Maxx	Target

	*CA New Plan Acquisition Fund, LLC (6)*
3	The Pines	Pineville	LA	1991	03/01/02	179,039	100%	876,147		Kmart, Super 1 Foods
4	Great Eastern Shopping Plaza	Northwood	OH	1956	12/21/05	339,878	78%	950,749		Aldi, Value City Department Store, Value City Furniture
5	Northshore West	Houston	TX	1997	03/01/02	144,982	86%	984,530		Conn Appliances, PETCO, Sellers Brothers

	*CA New Plan Venture Direct Investment Fund, LLC (6)*
6	Shoppes of Victoria Square	Port St. Lucie	FL	1990	10/10/03	95,243	98%	1,012,885		Winn-Dixie
7	Sarasota Village	Sarasota	FL	1998	03/01/02	168,600	100%	1,186,948		Big Lots, Homegoods, Gold’s Gym, Publix
8	Atlantic Plaza	Satellite Beach	FL	2001	03/01/02	133,070	92%	906,454		Beall’s, Publix
9	Harwood Central Village	Bedford	TX	1986	03/01/02	119,742	89%	1,004,294		Kroger
10	Spring Valley Crossing	Dallas	TX	2002	03/01/02	101,687	85%	611,975		Albertsons
11	Odessa-Winwood Town Center	Odessa	TX	1987	03/01/02	343,603	100%	2,214,534		Hastings, H.E.B., Office Depot, Ross Dress for Less, Target
12	Windvale	The Woodlands	TX	2002	03/01/02	101,088	100%	1,124,539		Randalls

	*CA New Plan Venture Fund, LLC (6)*
13	Villa Monaco	Denver	CO	1978	02/19/04	122,213	90%	1,088,305		King Soopers
14	Ventura Downs	Kissimmee	FL	2005	03/01/02	98,191	100%	967,684		Bealls Outlet, Publix Sabor
15	Marrero Shopping Center	Marrero	LA	2004	04/12/04	69,259	100%	640,709		Winn-Dixie
16	Clinton Crossing	Clinton	MS	2005	10/31/03	87,698	36%	324,324		-
17	Mint Hill Festival	Charlotte	NC	1986	03/01/02	59,047	89%	489,243		Eckerd, Harris Teeter
18	Ridglea Plaza	Ft. Worth	TX	1990	12/31/02	171,787	98%	1,577,072		Stein Mart, Tom Thumb

	*Galileo America LLC (7)*
19	County Park Plaza	Scottsboro	AL	1999	08/10/05	60,750	100%	291,768		Food World, Sportsmed
20	Conway Towne Center	Conway	AR	1986	12/12/02	180,519	85%	1,116,856		JC Penney	Office Depot
21	Glendale Galleria	Glendale	AZ	1991	08/01/97	119,461	89%	1,142,557		Food City	Bally’s Fitness
22	Southern Village Mesa	Mesa	AZ	1987	08/01/97	84,054	95%	723,629		Food City
23	Paradise Plaza	Paradise	CA	1997	06/20/97	198,484	100%	823,667		Albertsons, Kmart, Rite Aid
24	San Dimas Plaza	San Dimas	CA	1986	10/07/97	119,161	98%	2,133,601		T.J. Maxx	Ralphs, Rite Aid
25	Vail Ranch Center	Temecula	CA	2003	02/25/03	203,904	99%	2,709,924		Stater Bros., Stein Mart
26	Aurora Plaza	Aurora	CO	1996	12/12/02	161,541	100%	979,459		Big Lots, King Soopers, Latino Cinema

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR	Anchor Tenant (4)	Anchor Tenant Not Owned (4)
27	Westminster City Center	Westminster	CO	2005	12/16/97	343,110	100%	4,632,360	Babies R Us, Barnes & Noble, Circuit City, CompUSA, Golfsmith, Gordmans
28	Enfield Commons	Enfield	CT	1990	08/10/05	252,096	100%	2,812,207	Barnes & Noble, Bob’s Stores, Linens ‘n Things, Marshalls, Office Max
29	Stop & Shop Plaza	Enfield	CT	1988	12/19/05	112,765	100%	1,212,865	Stop & Shop
30	Freshwater - Stateline Plaza	Enfield	CT	2004	08/10/05	295,528	100%	2,298,530	Costco, Dick’s Sporting Goods, Media Play	Home Depot
31	Charter Oak Marketplace	Hartford	CT	2004	08/10/05	262,056	100%	1,875,256	Marshalls, Wal-Mart
32	Chamberlain Plaza	Meriden	CT	2004	08/10/05	53,464	100%	959,622	Circuit City
33	Turnpike Plaza	Newington	CT	2004	08/10/05	151,095	100%	2,212,605	Dick’s Sporting Goods, Price Chopper
34	North Haven Crossing	North Haven	CT	1993	08/10/05	104,612	82%	1,439,093	Barnes & Noble, Bernie’s, Office Max
35	Queen Plaza	Southington	CT	2004	08/10/05	171,989	100%	1,809,267	Bed Bath & Beyond, Bob’s Furniture, T.J. Maxx
36	Waterbury Plaza	Waterbury	CT	2000	08/10/05	197,206	98%	2,099,291	Pretty Woman, Super Stop & Shop
37	Waterford Commons	Waterford	CT	2004	08/10/05	237,082	98%	3,995,521	Babies R Us, Dick’s Sporting Goods, Linens ‘n Things	Best Buy, Raymour & Flanigan
38	Goff Brook Shops	Wethersfield	CT	1988	08/10/05	71,493	100%	943,737	Office Depot, Old Country Buffet
39	Coastal Way	Brooksville	FL	2004	08/10/05	218,621	100%	1,437,466	Belk’s, Sears
40	Morse Shores	Ft. Myers	FL	2001	03/01/02	169,545	95%	1,084,363	Bealls Outlet, Big Lots, Publix
41	Normandy Square	Jacksonville	FL	1996	12/12/02	87,240	100%	646,079	CVS, Family Dollar, Winn-Dixie
42	Marketplace at Wycliffe	Lake Worth	FL	2002	06/01/05	133,520	100%	2,182,602	Walgreens, Winn-Dixie
43	Panama City Square	Panama City	FL	1992	06/25/03	289,119	100%	1,815,706	Goody’s, Michaels, The Sports Authority, T.J. Maxx, Wal-Mart
44	Collins Park Commons	Plant City	FL	1989	08/10/05	37,458	100%	199,742	Tractor Supply Company
45	Riverwood	Port Orange	FL	1996	09/05/97	93,506	95%	484,486	Walgreens, Winn-Dixie
46	Cobblestone Village	St. Augustine	FL	2003	08/10/05	261,081	100%	3,220,442	Bealls (Stage), Publix, Ross Dress for Less
47	Hampton Plaza	Tampa	FL	1990	08/10/05	44,420	100%	431,272	Big Lots, Dollar General
48	Albany Plaza	Albany	GA	1995	05/12/94	114,169	100%	656,413	Big Lots, Harveys
49	Perlis Plaza	Americus	GA	1972	07/11/90	165,315	97%	998,393	Belk’s, Harveys
50	Buena Vista Village	Columbus	GA	1997	08/10/05	17,500	100%	181,516	-	Wal-Mart, Winn-Dixie
51	Cordele Square	Cordele	GA	2002	07/11/90	126,427	97%	695,476	Belk’s, Goody’s, Harvey Foods
52	Northside Plaza	Dalton	GA	2001	10/11/95	73,931	96%	538,664	BI-LO, Family Dollar
53	Cosby Station	Douglasville	GA	1994	08/10/05	77,811	94%	739,483	Publix
54	Perry Marketplace	Perry	GA	2004	12/30/92	179,973	97%	1,025,796	Ace Hardware, Bealls Outlet, Fred’s, Kroger
55	Wisteria Village	Snellville	GA	2004	10/11/95	173,152	100%	1,102,774	Hobby Lobby, Kmart
56	Bulloch Plaza	Statesboro	GA	1970	08/10/05	39,264	100%	212,495	Harveys
57	Statesboro Square	Statesboro	GA	1986	08/10/05	41,000	100%	266,597	Aaron Rents, Big Lots
58	Haymarket Square	Des Moines	IA	2002	05/12/95	269,465	92%	1,607,331	Big Lots, Dahl’s Foods, Northern Tool, Nova Cinema, Office Depot
59	Marwood Plaza	Indianapolis	IN	1992	12/12/02	107,080	86%	623,411	Fashion Bug Plus, Kroger
60	Westlane Shopping Center	Indianapolis	IN	1982	12/12/02	71,490	88%	361,842	Family Dollar, Lo Bill Foods
61	Garden City Plaza	Garden City	KS	2004	08/10/05	102,648	100%	943,874	JC Penney	Sears
62	Green River Plaza	Campbellsville	KY	1989	03/08/96	203,239	99%	1,085,698	Goody’s, JC Penney, Kroger
63	Kmart Plaza	Elizabethtown	KY	1992	02/04/93	130,466	100%	821,790	Kmart, Staples
64	London Marketplace	London	KY	1994	03/17/94	169,032	100%	968,773	Goody’s, Kmart, Kroger
65	Springhurst Towne Center	Louisville	KY	1997	08/10/05	422,035	99%	4,925,322	Cinemark, Dick’s Sporting Goods, Fashion Shops, Kohl’s, Liquor Barn, T.J. Maxx	Meijer, Target
66	Chestnut Hills	Murray	KY	1982	08/10/05	68,364	100%	333,300	JC Penney
67	Karam Shopping Center	Lafayette	LA	1998	12/12/02	100,238	100%	349,773	Conn’s Appliance, Super 1 Foods
68	Easton Village	Easton	MA	2003	08/10/05	101,260	100%	1,888,667	CVS, Roche Bros.
69	Lunenberg Crossing	Lunenburg	MA	1994	08/10/05	25,515	100%	347,085	Fashion Bug	Hannaford Bros., Wal-Mart
70	Brunswick Plaza	Brunswick	ME	2005	08/10/05	169,793	100%	864,000	Lowe’s	Wal-Mart
71	BJ’s Plaza	Portland	ME	1991	08/10/05	104,233	100%	698,361	BJ’s Wholesale Club
72	Delta Center	Lansing	MI	2005	12/12/95	186,246	89%	1,632,725	Bed Bath & Beyond, Hobby Lobby, Pet Food Warehouse, T.J. Maxx
73	Fashion Corner	Saginaw	MI	2004	12/12/95	179,678	89%	1,455,648	Bed Bath & Beyond, Best Buy, Dunham’s
74	Green Acres	Saginaw	MI	1995	12/12/02	271,506	82%	1,530,628	A.J. Wright, Big Lots, Farmer Jack’s
75	Roundtree Place	Ypsilanti	MI	1992	07/01/98	195,413	99%	1,264,402	Shina Value Land, Wal-Mart
76	Washtenaw Fountain Plaza	Ypsilanti	MI	2005	10/05/92	135,942	89%	743,043	A.J. Wright, Dollar Tree, Dunhams, Save-A-Lot
77	Jacksonian Plaza	Jackson	MS	1990	03/01/02	87,721	100%	379,819	Books-A-Million, Georgia Carpet Outlet, Office Depot

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR	Anchor Tenant (4)	Anchor Tenant Not Owned (4)
78	Northwoods Plaza	Albemarle	NC	1983	08/10/05	32,705	100%	226,887	Food Lion
79	Devonshire Place	Cary	NC	1996	08/10/05	104,441	100%	1,204,988	Borders, Golf Galaxy, Lowes Foods, McFayden Music
80	Henderson Square	Henderson	NC	1995	08/10/05	165,929	100%	1,164,751	Belk’s, Goody’s, JC Penney	Wal-Mart Supercenter
81	Longview Crossing	Hickory	NC	1988	08/10/05	40,598	100%	218,870	Food Lion
82	Springs Crossing	Hickory	NC	1996	08/10/05	43,071	100%	317,940	Family Dollar, Food Lion
83	Valley Crossing	Hickory	NC	1988	08/10/05	186,088	99%	1,564,996	Circuit City, Goody’s, Office Depot, T.J. Maxx
84	Parkway Plaza	Winston-Salem	NC	2005	12/12/02	286,405	95%	2,426,086	Citi Trends, Lowes Foods, Office Depot
85	Stratford Commons	Winston-Salem	NC	1995	12/30/96	72,308	95%	858,033	Mattress Firm, Michaels, Natural Health Superstore, Office Max
86	Willow Springs Plaza	Nashua	NH	1990	08/10/05	130,748	100%	1,962,387	JC Penney Home Store, Jordan’s Warehouse, Office Max, PETCO	Home Depot
87	Seacoast Shopping Center	Seabrook	NH	1991	08/10/05	91,690	100%	1,148,032	Jo-Ann Fabrics, Shaw’s	Wal-Mart
88	Dover Park Plaza	Yardville	NJ	2005	01/28/00	58,025	98%	701,276	CVS
89	Ladera	Albuquerque	NM	1982	03/01/02	126,012	96%	1,066,010	Brooks, Dollar Tree, Great Wall Buffet
90	University Mall	Canton	NY	1967	01/01/76	81,027	100%	364,362	Rexford’s Hardware, Wisebuys
91	Genesee Valley Shopping Center	Geneseo	NY	1993	07/01/98	204,609	100%	1,493,418	Wegmans
92	McKinley Plaza	Hamburg	NY	1991	06/14/92	93,144	100%	1,053,082	A.C. Moore, T.J. Maxx
93	Hornell Plaza	Hornell	NY	2005	07/31/98	253,813	95%	1,798,718	Walmart, Wegmans
94	Greenport Towne Center	Hudson	NY	1993	08/10/05	75,525	100%	767,250	Fashion Bug, Price Chopper	Wal-Mart
95	Shops at Seneca Mall	Liverpool	NY	2005	08/03/93	230,583	95%	1,033,031	Big Lots, Kmart
96	Cortlandt Towne Center	Mohegan Lake	NY	1997	08/10/05	630,316	100%	8,726,292	A&P, Barnes & Noble, Linens ‘n Things, Marshalls, PetsMart, Seaman’s, United Artists, Wal-Mart	Home Depot
97	Hannaford Plaza	Saratoga Springs	NY	2004	08/10/05	178,391	100%	1,969,005	Bare Bones, Hannaford Bros., Tractor Supply Company
98	Galleria Commons	Henderson	NV	2005	06/09/98	276,460	95%	2,694,791	Babies R Us, Burlington Coat Factory, Stein Mart, T.J. Maxx
99	Southland Shopping Center	Middleburg Heights	OH	2002	11/10/05	707,456	96%	5,492,933	BJ’s Wholesale Club, Burlington Coat Factory, Giant Eagle, Marc’s
100	Southland South	Middleburg Heights	OH	1970	11/10/05	56,170	90%	363,204	Laser Adventure
101	Napoleon Center	Napoleon	OH	1991	12/12/02	60,795	100%	468,400	Chief Supermarket, Rite Aid
102	Tops Plaza	North Olmstead	OH	2002	11/10/05	70,003	100%	1,045,601	Tops Market
103	Tops Plaza	North Ridgeville	OH	2002	11/10/05	60,830	100%	856,259	Tops Market
104	Brice Park	Reynoldsburg	OH	1989	03/04/98	158,565	96%	1,731,246	Michaels, Old Navy
105	Streetsboro Crossing	Streetsboro	OH	2002	11/10/05	77,900	100%	1,017,650	Tops Market	Lowes, Target
106	Bristol Plaza	Bristol	PA	1989	12/12/02	145,356	98%	1,506,804	Big Lots, Pathmark
107	Market Street Square	Elizabethtown	PA	1993	10/06/97	169,481	100%	1,433,558	Kmart, Weis Markets
108	Johnstown Galleria Outparcel	Johnstown	PA	1993	07/31/97	61,968	100%	401,560	Chuck E. Cheese, Dunham’s, Staples
109	Shops at Prospect	West Hempfield	PA	1994	07/31/95	63,392	94%	604,125	Hallmark, Redner’s Warehouse Market	Kmart
110	Anderson Plaza	Greenwood	SC	1983	08/10/05	46,258	66%	233,468	Food Lion
111	Northridge Plaza	Hilton Head	SC	1988	08/10/05	79,570	97%	639,824	Dollar General, Home Goods
112	Island Plaza	James Island	SC	2004	10/06/97	171,224	95%	1,028,665	Dollar Tree, Fred’s, Food Lion, Gold’s Gym
113	Beach Crossing	Myrtle Beach	SC	1984	08/10/05	45,790	100%	296,732	Advance Auto, Dollar General, Duron Paints, Imaginations
114	Remount Village	North Charleston	SC	1996	11/13/96	60,238	100%	558,899	BI-LO
115	58 Crossing	Chattanooga	TN	1988	08/10/05	49,984	95%	364,994	Food Lion, Goodwill
116	East Ridge Crossing	Chattanooga	TN	1999	08/10/05	58,950	97%	588,985	Food Lion
117	Stone East Plaza	Kingsport	TN	1983	08/10/05	46,259	93%	275,366	Auto Zone, Cal Spas and Pools, Dollar General
118	Kingston Overlook	Knoxville	TN	1996	08/10/05	119,360	100%	892,748	American Signature Home, Babies R Us, Michaels
119	Suburban Plaza	Knoxville	TN	1997	08/10/05	130,097	90%	1,247,061	Barnes & Noble, Toys R Us
120	Lion’s Head Village	Nashville	TN	2000	08/10/05	99,165	100%	1,226,122	Office Max, Stein Mart
121	Briarcliffe Square	Oak Ridge	TN	1988	08/10/05	41,778	100%	278,225	Food Lion
122	Merchant’s Central	Winchester	TN	1997	12/09/97	208,123	95%	1,114,575	Wal-Mart
123	Plantation Plaza	Clute	TX	1997	03/01/02	100,277	100%	825,251	Kroger, Walgreens
124	Marketplace at Flower Mound	Flower Mound	TX	1998	08/10/05	113,349	74%	1,177,597	Sprouts Farmer Market	Kohl’s
125	Beltway South	Houston	TX	1998	03/01/02	107,174	100%	876,684	Kroger
126	Inwood Forest	Houston	TX	1997	03/01/02	77,553	92%	698,469	-
127	Jones Plaza	Houston	TX	2000	03/01/02	111,355	93%	1,062,982	24 Hour Fitness, Hancock Fabrics

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
128	Jones Square	Houston	TX	1999	03/01/02	169,003	100%	1,141,738		Big Lots, Hobby Lobby
129	Mount Houston Square	Houston	TX	1996	03/01/02	173,080	97%	1,134,668		Fallas Paredes, La Canasta Furnishings
130	Orange Grove	Houston	TX	2005	03/01/02	190,811	96%	1,666,726		24 Hour Fitness, Floor Décor, Office Max
131	The Crossing at Fry Road	Katy	TX	2005	03/01/02	222,705	98%	1,966,780		Hobby Lobby, Kroger, Palais Royal, Stein Mart
132	Northshore Plaza	Portland	TX	2000	12/12/02	152,144	95%	831,431		Bealls (Stage), H.E.B.	Kmart
133	Keegan’s Meadow	Stafford	TX	1999	03/01/02	125,298	90%	1,028,072		Palais Royal, Randalls
134	Tomball Parkway Plaza	Tomball	TX	2005	03/01/02	133,629	98%	931,702		Big Lots, Palais Royal	Hobby Lobby
135	Tuckernuck Square	Richmond	VA	1994	12/12/02	86,010	100%	974,565		Babies R Us, Chuck E. Cheese
136	Hunting Hills	Roanoke	VA	1989	04/02/98	166,207	100%	975,065		Wal-Mart
137	Valley Commons	Salem	VA	1988	08/10/05	45,580	93%	344,969		Food Lion
138	Hilltop Plaza	Virginia Beach	VA	1998	12/12/02	152,025	99%	1,274,679		Office Depot, The North Carolina Company
139	Strawbridge	Virginia Beach	VA	1997	08/10/05	43,764	100%	579,873		Regal Cinemas
140	Packard Plaza	Cudahy	WI	1992	12/12/02	125,247	87%	588,364		Aldi, Dunham’s, Jo Ann Fabrics, Merchandise Outlet
141	Northridge Plaza	Milwaukee	WI	1996	12/12/02	150,164	93%	1,046,015		Big Lots
142	Moundsville Plaza	Moundsville	WV	2004	12/27/88	180,346	87%	1,073,118		Big Lots, Kroger, Peebles
143	Grand Central Plaza	Parkersburg	WV	1986	06/08/88	74,017	100%	675,261		Office Depot, T.J. Maxx
144	Kmart Plaza	Vienna	WV	1975	02/25/93	106,258	100%	598,599		Kmart
	*NP/I&G Institutional Retail Company, LLC (7)*
145	The Plaza at Eastchase	Montgomery	AL	2003	11/10/05	112,285	88%	1,266,318		Cost Plus World Market, PetsMart, Pier 1 Imports, Ross Dress for Less	Kohl’s, Target
146	The Shoppes at EastChase	Montgomery	AL	2002	11/10/05	246,952	97%	4,320,012		Abercrombie & Fitch, Ann Taylor, Banana Republic, Books-A-Million, Gap, Linens ‘n Things	Dillard’s
147	New London Mall	New London	CT	2000	03/10/05	260,396	92%	3,058,736		Homegoods, Marshalls, OfficeMax, ShopRite
148	Riverplace Shopping Center	Jacksonville	FL	1989	10/08/04	257,912	99%	2,514,628		Bealls, Sears, Stein Mart, T.J. Maxx
149	Conyers Crossroads	Conyers	GA	2000	03/22/04	458,969	98%	5,744,254		Belk’s, Carmike Cinemas, Circuit City, Kohl’s, Old Navy
150	Village Shoppes of Flowery Branch	Flowery Branch	GA	2002	07/22/04	92,985	98%	1,154,093		Publix
151	Village Shoppes of East Cherokee	Woodstock	GA	2003	05/20/04	128,667	91%	1,764,102		Publix
152	Rolling Meadows	Rolling Meadow	IL	1990	11/29/05	130,436	82%	1,271,893		Jewel-Osco
153	Meridian Towne Centre	Okemos	MI	2004	08/17/05	86,891	90%	996,989		Marshalls	Kroger, Target
154	DSW Plaza at Lake Grove	Lake Grove	NY	1997	11/25/03	251,136	100%	3,995,855		Bally Total Fitness, DSW, Stop & Shop
155	Skytop Pavilion	Cincinnati	OH	1999	11/22/04	133,631	92%	1,582,517		biggs, Gold’s Gym
156	Quail Springs Marketplace	Oklahoma City	OK	2003	05/18/05	294,613	100%	3,636,387		Office Depot, Ross Dress for Less, Ultimate Electronics	Lowe’s
157	Westpark Shopping Center	Glen Allen	VA	2005	05/09/05	118,500	100%	1,577,028		Linens ‘n Things, The Tile Shop,Victory Lady	Bloom Brothers Furniture, Ukrops

						23,890,502	96%	$	221,901,928

	Miscellaneous Properties

	*BPR Land Partnership, L.P.*
1	Undeveloped land parcels (8)	Frisco	TX	-	09/28/98	LAND	-	-

	*BPR South, L.P.*
2	Undeveloped land parcels (9)	Frisco	TX	-	09/28/98	LAND	-	-

						-	-	$	-

		*STABILIZED PROPERTIES*				23,890,502	96%	$	221,901,928

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Property Portfolio

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
*Redevelopment Properties*
	Community and Neighborhood Shopping Centers
	*CA New Plan Acquisition Fund, LLC (6)*
1	Miracle Mile Shopping Plaza	Toledo	OH	2006	12/21/05	296,396	75%	$	1,261,244	Big Lots, Kroger, T.J. Maxx

	*CA New Plan Venture Fund, LLC (6)*
2	Stone Mountain Festival	Stone Mountain	GA	2006	07/02/04	347,217	95%	1,796,450		Wal-Mart

	*NPK Redevelopment I, LLC*
3	Stateline Square	South Haven	MS	2006	10/07/05	-	-	-		-
4	Germantown Square	Cordova	TN	2006	10/07/05	-	-	-		-
5	Riverdale Square	North Memphis	TN	2006	10/07/05	-	-	-		-

	*Westgate Mall, LLC*
6	Westgate	Fairview Park	OH	2006	02/25/05	-	-	-		Kohl’s

		*REDEVELOPMENT PROPERTIES*				643,613	86%	$	3,057,694

		*JOINT VENTURE PORTFOLIOS (5)*				24,534,115	96%	$	224,959,622

		*TOTAL PORTFOLIO (5)*				67,211,408	92%	$	555,862,420

(1) Year of most recent redevelopment or year built if no redevelopment has occurred.

(2) Includes building square footage for ground leases.

(3) Includes all leases in effect at December 31, 2005, including those that are fully executed, but not yet open.

(4) Anchor tenants include 1) major discount stores, 2) major grocers, 3) tenants with square footage greater than 10,000 square feet if the shopping center GLA is less than 125,000 square feet and tenants with square footage greater than 25,000 square feet if the shopping center GLA is greater than 125,000 square feet and 4) tenants with square footage greater than 10 percent of the shopping center GLA, but not less than 5,000 square feet.

(5) Includes 100 percent of properties owned by unconsolidated joint ventures.

(6) On June 1, 2005, CA New Plan Venture Fund, LLC was restructured and the following two additional joint ventures were formed: CA New Plan Acquisition Fund, LLC and CA New Plan Venture Direct Investment Fund, LLC. In connection with the restructuring, six stabilized assets were transferred from CA New Plan Venture Fund, LLC to CA New Plan Venture Direct Investment Fund, LLC.

(7) Includes impact of master lease agreements.

(8) Comprised of approximately 30.1 acres of undeveloped land.

(9) Comprised of approximately 8.4 acres of undeveloped land.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Managed Portfolios

	Property Name	City	State	Year Built (1)	Date Acquired	GLA (2)	Percent Leased (3)	ABR		Anchor Tenant (4)	Anchor Tenant Not Owned (4)
MANAGED PORTFOLIOS (5)
*Stabilized Properties*
	Community and Neighborhood Shopping Centers

	*CBL & Associates Properties, Inc.*
1	Springdale Center	Mobile	AL	2003	-	729,222	98%	$	3,759,168	Best Buy, Burlington Coat Factory, Goody’s, Linens ‘n Things, McRae’s	Sam’s Club
2	Wilkes-Barre Township Marketplace	Wilkes-Barre	PA	2004	-	305,770	100%	1,850,275		Wal-Mart Supercenter

	*Pension Reserves Investment Management Board - Commonwealth of Massachusetts*
3	Gwinnett Market Fair	Duluth	GA	1987	-	194,090	88%	1,854,375		Bed Bath & Beyond, Marshalls, T.J. Maxx
4	Mount Prospect Shopping Center	Mt. Prospect	IL	1987	-	299,300	96%	2,691,762		Marshalls, Walgreen’s	Wal-Mart
5	Neptune Shopping Center	Neptune Township	NJ	2005	-	215,024	99%	2,551,080		Home Goods, Marshalls, ShopRite

		*TOTAL MANAGED PORTFOLIOS (5)*				1,743,406	97%	$	12,706,661

(1) Year of most recent redevelopment or year built if no redevelopment has occurred.

(2) Includes building square footage for ground leases.

(3) Includes all leases in effect at December 31, 2005, including those that are fully executed, but not yet open.

(5) The Company does not have an ownership interest in these properties, but receives certain fees for management and leasing services provided. This property data has otherwise been excluded from the information presented in this Supplemental Disclosure.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

New Plan Excel Realty Trust, Inc.

Supplemental Disclosure - Quarter Ended December 31, 2005

Summary of Joint Venture Portfolios

				Company
Property Name	JV Partner	Project Bank Debt Outstanding		Percent Ownership	Economic Structure	Investments in / Advances To Unconsolidated Ventures

*UNCONSOLIDATED VENTURES*

Arapahoe Crossings, L.P.	Foreign investor	$	48,542,296	30%	Increased participation after 10% return	$	6,663,334
BPR Land Partnership, L.P.	George Allen / Milton Schaffer	-		50%	10% return	1,221,099
BPR Shopping Center, L.P.	Foreign investor / George Allen / Milton Schaffer	68,572,969		25%	Increased participation after 10% return	3,615,042
BPR South, L.P.	George Allen / Milton Schaffer	-		50%	10% return	821,537
CA New Plan Acquisition Fund, LLC (1) (2)	Major U.S. pension fund	33,352,874		10%	Increased participation after 10% IRR	1,408,690
CA New Plan Venture Direct Investment Fund, LLC (1) (2)	Major U.S. pension fund	60,824,736		10%	-	849,056
CA New Plan Venture Fund, LLC (1) (2)	Major U.S. pension fund	57,652,565		10%	Increased participation after 12% IRR	3,691,940
Galileo America LLC	Galileo Shopping America Trust	1,199,019,887		5%	-	33,762,173
NP/I&G Institutional Retail Company, LLC	JPMorgan Fleming Asset Management	275,569,922		20%	Increased participation after 12% IRR	41,447,324
NPK Redevelopment I, LLC (3)	Kmart Corporation (Sears Holding Corp.)	-		20%	Increased participation after 10% return	1,000,000
Westgate Mall, LLC	Transwestern Investment Company / The Richard E. Jacobs Group	21,569,603		10%	Increased participation after 13% IRR	1,057,696
						$	95,537,891

(1) AEW serves as the advisor for the joint venture partner.

(2) On June 1, 2005, CA New Plan Venture Fund, LLC was restructured and the following two additional joint ventures were formed: CA New Plan Acquisition Fund, LLC and CA New Plan Venture Direct Investment Fund, LLC.

(3) The Company has committed to contribute an additional $5.0 million to this venture. Percent ownership represents the Company’s ownership interest in the venture subsequent to such contributions.

The above does not purport to disclose all items required under GAAP.

The Company’s Form 10-K for the year ended December 31, 2005 should be read in conjunction with the above information.

Centro NP Inactive 8-KResults of Operations and Financial Condition

Quarter Ended December 31, 2005

Fourth Quarter Review / Shareholder Information

2

Financial Review

Activity Review

Property Type Summary

23

Corporate Headquarters

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