BENCHMARKS REPORT

Industry Measure: Business Segment Data
| SIC: | 6798 |
| INDUSTRY: | REAL ESTATE INVESTMENT TRUST |
| BENCHMARKS FOR THE INDUSTRY |
| NO. OF SEGMENTS REPORTING IN THE INDUSTRY: 201 |
|
1997 SALES FOR THE INDUSTRY: $ 22799 (Total Sales in $Millions) |
|
OPERATING MARGIN: 50.3 (Allocated Operating Profits (divided by) Segment Sales) |
|
ASSET INTENSITY: 924.8 (Allocated Assets (divided by) Segment Sales) |
|
SALES GROWTH: 25.1 (Compound 3-Year Growth Rate in Sales for the Median Participant in the Industry) |
| BENCHMARKS FOR THE TOP FOUR COMPETITORS |
| ROA: Allocated Operating Profits (divided by) Allocated Operating Assets |
| Competitor/Rank by Sales |
Market Share (% Ind. Sales) |
ROA |
| #1: SIMON PROPERTY GROUP INC |
4.7 | 6.5 |
| #2: STARWOOD HOTELS&RESORTS WRLD |
4.1 | 5.0 |
| #3: CAPSTEAD MORTGAGE CORP |
3.9 | 6.4 |
| #4: EQUITY OFFICE PROPERTIES TR |
3.3 | 2.6 |
| Total of #1-4: | 16.1 | 5.4 |