Exhibit 2

As a result of the Transaction, Mr. Urstadt individually no longer
is the direct beneficial owner of any shares of Common Stock of
the Issuer, but when aggregating the 547,177 shares of
Common Stock held by URS II, the 533,467 shares of
Common Stock held by UPCO, the 21,300 shares of
Common Stock held by Elinor Urstadt, Mr. Urstadt's wife,
the 8,185 shares of Common Stock held by the Compensation
Plan Trust for the benefit of Mr. Urstadt and the 1,901,006
shares of Common Stock held by Urstadt Realty Associates
Co. LP ("URACO"), a Delaware limited partnership of which UPCO
is the general partner and Mr. Urstadt, Mrs. Urstadt, the Catherine
U. Biddle Irrevocable Trust and the Charles D. Urstadt Irrevocable
Trust (for each of which trusts Mr. Urstadt is the sole trustee) are
the limited partners, results in Mr. Urstadt beneficially owning
3,011,135 shares of Common Stock. Due to a clerical error,
previously filed Forms 4 incorrectly stated that Mr. Urstadt was
the direct beneficial owner of an additional 200 shares of
Common Stock of the Issuer.

As a result of the Transaction, UPCO is the direct beneficial
owner of 533,467 shares of Common Stock, which, when
added to the 1,901,006 shares of Common Stock held by
URACO, results in UPCO beneficially owning 2,434,473
shares of Common Stock.

URACO remains the direct beneficial owner of 1,901,006
shares of Common Stock.