Note Quotations

We are pleased to report another quarter of strong financial and operational results, as well as the completion of several activities that position us well for 2006. During the fourth quarter of 2005 we opened one new development project, entered into a land development joint venture, acquired interests in two regional malls, sold twelve non-core retail real estate assets, issued $1.1 billion of unsecured notes at attractive coupons, and expanded and extended our corporate credit facility on more favorable terms. In addition, our development program continues to proceed with six projects under construction. We are also pleased to announce today an 8.6 % increase in our common stock dividend.

We are pleased to note that the recent run of strong data in Australia has seen markets lower that probability to only about 15 per cent.

We started the year on a low note and we are ending the year on a high because all sectors bounced back.

We believe that these initiatives, together with improved cash flow from business operations, have enhanced our financial flexibility. We currently have sufficient resources to retire the remaining '06 convertible notes at maturity and based on current forecasts we believe we will have sufficient liquidity available to satisfy the $146 million of 5% convertible notes due March 2007. As previously announced, during the first quarter of 2006 we purchased in the open market $30 million face value of our outstanding $471 million aggregate principal amount of 9.25% Senior notes due February 2008.

When you take two notes on the piano, an octave apart, and play them in rapid alternation, you get a third tone.

For notes related to books I'm writing, I've wondered whether I should organize my notes better, but I do find that the action or scrolling through them and seeing odd juxtapositions of ideas helps to stimulate my own ideas and creativity. I worry that if I kept the notes in a highly-structured way, I might lose some of these benefits.

I'm a compulsive note-taker, and I used to feel self-conscious about pulling out my little notebook and taking notes during a casual conversation. Then I noticed that people really seemed to enjoy it; the fact that I was taking notes made their remarks seem particularly insightful or valuable. Now I don't hold myself back.

There's not a note of mine that's worth the noting.

There's a huge amount of work that goes into placating a network in regular television. It's literally 70% or 80% of your workload, is showing them the material, getting their notes and presenting it to them and making sure they weigh in. It's a huge amount of work.

(She) took all the raw notes of all the meetings of the board. They're better than minutes. Board minutes are notoriously dry and empty. Her notes will have a lot more color.