TO OUR SHAREHOLDERS  CONTINUED operating experience  and deep relationships in these core markets enable us to better serve our tenants  increase operating efficiencies  and pursue opportunities for growth. And most of our markets are outperforming others throughout the country  as the supply of new office space in them has been limited. In 2002  we acquired seven office buildings totaling over 742 000 square feet for $123.5 million  all in our  core markets. Each of these acquisitions—including Soundview Plaza in Stamford  Connecticut  and 16 and 18 Sentry Park West in Blue Bell  Pennsylvania—fit well into Mack-Cali’s premier suburban property portfolio. Because of the caliber of our assets  our buildings are not only attractive to tenants  but to buyers as well. As a result  we were able to complete the sales of 13 buildings for over $163 million this year in non-core markets such as Dallas  Houston  Phoenix  and Tampa. Building Our Tenant Base Despite the slow economy  our occupancies remained strong  with 92.3 percent of our portfolio leased. Our proactive early lease renewal program  implemented several years ago  has helped us maintain our strong tenant base. By renewing leases up to two years in advance of expiration  we kept our buildings well-leased  with laddered  maturities and manageable rollovers even in this economic downturn. Mack-Cali’s exceptional property management is also key to keeping a well-leased portfolio.We are first and foremost real estate operators  and since day one our Company has adhered to a “tenant-first” philosophy that puts us at the forefront of our industry in customer relationships.This is the reason why so many companies have made  Mack-Cali their preferred provider of office space. 2