EXHIBIT 11 STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS (IN THOUSANDS EXCEPT FOR PER SHARE AMOUNTS) For The Three Months Ended 10/31/97 Primary EPS Fully Diluted 1. PROCEEDS UPON EXERCISE OF OPTIONS $49,367 $49,367 2. MARKET PRICE OF SHARES CLOSING $23.875 AVERAGE $23.487 5. TREASURY SHARES PURCHASABLE FROM OPTION PROCEEDS 2,102 2,068 6. OPTION SHARES OUTSTANDING 2,442 2,442 7. COMMON STOCK EQUIVALENTS (EXCESS SHARES UNDER OPTION OVER TREASURY SHARES THAT COULD BE REPURCHASED) 340 374 8. AVERAGE NUMBER OF SHARES OF BENEFICIAL INTEREST OUTSTANDING 59,003 59,003 9. TOTAL OF COMMON AND COMMON EQUIVALENT SHARES 59,343 59,377 10. NET INCOME APPLICABLE TO SHARES OF BENEFICIAL INTEREST $20,074 $20,074 11. EARNINGS PER SHARE OF BENEFICIAL INTEREST $0.34 $0.34 12. REPORTED EARNINGS PER SHARE OF BENEFICIAL INTEREST $0.34 Not Applicable