Balance Sheet and Distribution Coverage
Achieved substantial asset growth while strengthening financial position in 2002
Completed $576 million of acquisitions
Issued $380 million of equity in difficult market environment
12/31/01 6/30/02 12/31/02
- Debt/Total Capital: 63% 72% 57%
- Debt/EBITDA: 4.1 5.4 4.2
Increased annual distribution by $.10/unit to $2.40/unit
- 8.8% annual distribution growth rate since 1993
- Strong distribution coverage ratio of 1.3 at 12/31/02