Alexander's is a real estate investment trust engaged in leasing, managing, developing and redeveloping properties. Alexander's activities are conducted through its manager, Vornado Realty Trust. Alexander's has more than five properties in the greater New York City metropolitan area consisting of the 731 Lexington Avenue property, the Kings Plaza Regional Shopping Center, the Rego Park I property, the Paramus property, the Flushing property and the Rego Park II property. The Rego Park II property needs to be developed, while the other five are operating properties. Bloomberg and Sears accounted for approximately 35 percent and 10 percent, respectively, of the company's consolidated revenues for the year ended Dec. 31, 2004. Alexander's is located in Paramus, N.J.