TARRAGON REALTY INVESTORS INC. Options

[Critter]

TARRAGON REALTY INVESTORS INC.
1775 Broadway, 23rd Floor
New York, NY 10019
212-949-5000 Fax: 212-949-8001
www.tarragonrealty.com

Property in Portfolio as of 9/30/2003 (#/MSF): 14,644/13.6
Property Developed between 10/1/2003 and 9/30/2004 (#/$): 1,244/$107
Property Sold between 10/1/2003 and 9/30/2004 (#/$): 1,003/$53.9
Percentage of Affordable/Gov't Asst. Housing: 2%
Approx. Portfolio Value as of 9/30/2003: $725M
Regions of Operation: E: 25% MW: 5% S: 65% W: 5%

source: Commercial Property News http://www.cpnonline.com