8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported):  May 7, 2008

WEINGARTEN REALTY INVESTORS

(Exact name of Registrant as specified in its Charter)

Texas	1-9876	74-1464203
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification Number)

2600 Citadel Plaza Drive, Suite 300, Houston, Texas 77008

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code:  (713) 866-6000

Not applicable

(Former name or former address, if changed since last report)

Item 2.02.                          Results of Operations and Financial Condition.

On May 7, 2008, we issued a press release describing our results of operations for the first quarter ended March 31, 2008, as well as providing supplemental financial information pertaining to our operations.  A copy of the press release and supplemental financial information are attached as Exhibit 99.1 and Exhibit 99.2 to this report.

The information, including exhibits hereto, in this Current Report on Form 8-K is being furnished and shall not be deemed "filed" with the Securities and Exchange Commission and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.

Item 9.01.                          Financial Statements and Exhibits.

99.1                      Press release dated May 7, 2008, regarding our results of operations for the quarter ended March 31, 2008.

99.2                      Supplemental Financial Information.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  May 8, 2008

WEINGARTEN REALTY INVESTORS

By:     /s/ Joe D. Shafer

Joe D. Shafer

Vice President/Chief Accounting Officer

3

INDEX TO EXHIBITS

99.1                      Press release dated May 7, 2008, regarding our results of operations for the quarter ended March 31, 2008.

99.2                      Supplemental Financial Information.

4

EX-99.1

EXHIBIT 99.1

WEINGARTEN REALTY

2600 Citadel Plaza Drive

Houston, TX  77008

(713) 866-6000

(713) 880-6160 FAX

NEWS RELEASE

Information:   Richard Summers, Vice President/Director of Investor Relations, 713-866-6050

Weingarten Realty Announces First Quarter 2008 Results

Houston, May 7, 2008 --- Weingarten Realty (NYSE: WRI) announced today the results of its first quarter ended March 31, 2008.

“Our funds from operations (FFO), on a diluted per-share basis, grew to $0.78 for the first quarter of 2008, up 5% from the prior year. Additionally, in the first quarter, we closed on a new $228 million joint venture with AEW Capital Management, on behalf of a major institutional client. Additional joint ventures are a key strategic objective and we are very pleased to add another partnership with AEW,” stated Drew Alexander, President and Chief Executive Officer.

Financial and Operating Highlights

·   Net income, on a diluted, per-share basis, was $0.34 for the first quarter of 2008, compared to $0.53 per share for the same period of 2007. The decline from the prior year was due to a reduction in gains on property sales and an increase in depreciation expense associated with the redevelopment of an existing property;

·   Funds from operations (FFO), a non-GAAP financial indicator considered one of the most meaningful performance measurements within the REIT industry, grew 5% on a diluted per-share basis to $0.78 for the first quarter of 2008;

·   Overall occupancy was 93.7% at the end of the first quarter of 2008 compared to 94.4% a year ago. Occupancy for the retail properties was down slightly to  94.8% from 95.4% in the prior year while industrial occupancy was 90.7% compared to 90.8% a year ago;

·   As previously reported, the Company closed on a new joint venture with AEW Capital Management, on behalf of a major institutional client, which recapitalized a WRI portfolio of eighteen Texas properties totaling 2.1 million square feet. The joint venture acquiring the properties is 15% owned by WRI and 85% by AEW’s  client. Weingarten Realty received more than $216 million in cash proceeds from this transaction while maintaining a significant ownership stake in the properties.  Additional benefits included property management, leasing, and asset management fees as well as a performance enhancement above certain hurdle returns.

Existing Portfolio

Rental rates remained solid during the first quarter of 2008 as the Company completed 288 new leases and renewals, totaling 1.7 million square feet with an average rental rate increase of 15.3% on a same space GAAP basis and 12.5% on a cash basis.  The primary

1

driver for the rental rate increases were new retail leases which increased 27.7% on a same space GAAP basis and 27.3% on a cash basis.

Same property net operating income (NOI), on a cash basis, rose a modest .8% in the first quarter, with growth of .7% from retail properties and 1.8% from industrial properties. Minimum rents increased 1.8%, however this was offset by lower occupancy and increased bad debt expense due to bankruptcies including retailers like Hollywood Video. Occupancy ended the quarter at 93.7% versus 94.4% a year ago.

“The existing portfolio results for the first quarter were certainly affected by a weakening economy as we experienced a slight increase in vacancy due to the loss of some weaker retailers,” said Johnny Hendrix, Executive Vice President Asset Management. “However, we are confident that our strong focus on neighborhood and community shopping centers with retailers that provide basic necessities, combined with the efforts of our very productive associates, positions us to take advantage of opportunities in this economic downturn and return to strong growth as the economy recovers.”

New Development

The Company’s new development pipeline at the end of the first quarter 2008 includes 35 properties at various stages of development. Weingarten has invested $382 million in these projects to date and estimates its total investment, at completion, to be $657 million. The Company also projected that 15 of our 35 projects currently under development will be stabilized by the end of 2009 and these centers are currently 81% leased, including tenant-owned square footage. For the remaining 20 projects stabilizing in 2010 and beyond, the Company has committed national or regional anchors for 15 of the projects. The Company is aggressively pursuing anchors for the remaining 5 projects and management is comfortable that these strong locations will be successfully developed.

“Clearly, the slowing economy has impacted our development program,” said Robert Smith, Senior Vice President and Director of New Development. “Retailers have reevaluated and reduced their demand for space which impacts the growth of our new development program. However, the risks in the existing development pipeline are well controlled through the quality of our anchor commitments and our level of pre-leasing.”

Portfolio Enhancements

Dispositions of non-core properties totaled $19 million in the first quarter, representing two properties and 173,000 square feet. These properties were sold at an average cap rate of 7.0%.

“Since the disruption to the credit markets in the third quarter of last year, acquisition  activity, particularly, has been very slow. We have seen deal flow resume at a muted pace but both buyers and sellers are slow as they wait to see where the market is going and where prices will settle,” said Candace DuFour, Senior Vice President and Director of Acquisitions.

2

Dividends

The Board of Trust Managers declared a dividend of $0.525 for the first quarter of 2008. On an annualized basis, this represents a dividend of $2.10 per common share. The dividend is payable on June 16, 2008 to shareholders of record on June 6, 2008.

The Board of Trust Managers also declared dividends on the Company’s preferred shares. Dividends related to the 6.75% Series D Cumulative Redeemable Preferred Shares (NYSE:WRIPrD) are $0.421875 per share for the quarter. Dividends on the 6.95% Series E Cumulative Redeemable Preferred Shares (NYSE:WRIPrE) are $0.434375 per share for the same period. Dividends on the 6.50% Series F Cumulative Redeemable Preferred Shares (NYSE:WRIPrF) are $0.40625 per share for the quarter. Dividends on the Series G Cumulative Redeemable Preferred Shares are $0.226173 per share. All preferred share dividends are payable on June 16, 2008 to shareholders of record on June 6, 2008.

Outlook

“The year 2008 is expected to be a very challenging year. Neighborhood and community shopping centers that cater to basic necessities are the most resilient sector in real estate. Over 70% of our retail portfolio is anchored by supermarkets which provide the strength to weather a slowing economy,” said Alexander. “As we move forward in 2008, our team will remain focused on leasing and managing our quality portfolio and we will be highly selective in investing our capital in new development and acquisition opportunities.

“It is still early in the year and market conditions have been volatile, but we still expect to generate FFO per share in our previously announced guidance range of $3.21 to $3.27 for 2008, although it may be in the lower end of the range. We are very well positioned for the future and I am confident we can create long-term value for our investors.”

Conference Call Information

The Company also announced that it will host a live webcast of its quarterly conference call on May 8, 2008 at 10:00 a.m. Central Time. The live webcast can be accessed via the Company’s Web site at www.weingarten.com. A replay is also available through the Company’s Web site starting approximately two hours following the live call or can be heard by calling 800-642-1687, identification number 40923137 until 11:59 PM Central Time on May 9, 2008.

About Weingarten Realty Investors

As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty (NYSE:WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, formed in 1948. Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. The Company’s portfolio of 416 properties includes 335 neighborhood and community shopping centers and 81 industrial properties. Including tenant-owned square footage, the Company’s portfolio currently totals approximately 74 million square feet under management. Weingarten has one of the most diversified tenant bases of any major

3

REIT in its sector, with the largest of its 5,500 tenants comprising less than 3% of its rental revenues. To learn more about the Company’s operations and growth strategies, please visit www.weingarten.com.

Forward-Looking Statements

Statements included herein that state the Company’s or Management’s intentions, hopes, beliefs, expectations or predictions of the future are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 which by their nature, involve known and unknown risks and uncertainties. The Company’s actual results, performance or achievements could differ materially from those expressed or implied by such statements. Reference is made to the Company’s regulatory filings with the Securities and Exchange Commission for information or factors that may impact the Company’s performance.

4

Financial Statements
Weingarten Realty Investors
(in thousands, except per share amounts)
		Three Months Ended
		March 31,
		2008			2007
		(Unaudited)
STATEMENTS OF CONSOLIDATED INCOME AND FUNDS FROM OPERATIONS
Rental Income		$	152,428		$	140,668
Other Income			2,732			2,020
	Total Revenues		155,160			142,688
Depreciation and Amortization			43,324			31,685
Operating Expense			26,748			23,042
Ad Valorem Taxes			18,249			16,184
General and Administrative Expense			6,854			6,609
	Total Expenses		95,175			77,520
Operating Income			59,985			65,168
Interest Expense			(35,480	)		(36,089	)
Interest and Other Income			1,049			1,712
Equity in Earnings of Real Estate Joint Ventures and Partnerships, net			5,247			3,347
Income Allocated to Minority Interests			(1,826	)		(1,178	)
Gain on Sale of Properties			12			2,089
Gain on Land and Merchant Development Sales			519			666
(Provision) Benefit for Income Taxes			(747	)		9
	Income From Continuing Operations		28,759			35,724
Operating Income From Discontinued Operations			265			2,805
Gain on Sale of Properties From Discontinued Operations			8,370			12,856
	Income from Discontinued Operations		8,635			15,661
Net Income			37,394			51,385
Less:	Preferred Share Dividends		8,618			4,728
Net Income Available to Common Shareholders--Basic		$	28,776		$	46,657
Net Income Per Common Share--Basic		$	0.34		$	0.54
Net Income Available to Common Shareholders--Diluted		$	28,776		$	47,763
Net Income Per Common Share--Diluted		$	0.34		$	0.53
Funds from Operations:
Net Income Available to Common Shareholders		$	28,776		$	46,657
Depreciation and Amortization			42,302			31,979
Depreciation and Amortization of Unconsolidated Joint Ventures			2,540			2,057
Gain on Sale of Properties			(7,736	)		(14,945	)
Gain on Sale of Properties of Unconsolidated Joint Ventures			(14	)
Funds from Operations--Basic		$	65,868		$	65,748
Funds from Operations Per Common Share--Basic		$	0.79		$	0.76
Funds from Operations--Diluted		$	65,868		$	66,854
Funds from Operations Per Common Share--Diluted		$	0.78		$	0.74
Weighted Average Shares Outstanding--Basic			83,679			86,005
Weighted Average Shares Outstanding--Diluted			84,167			89,809
		March 31,			December 31,
		2008			2007
CONSOLIDATED BALANCE SHEETS		(Unaudited)			(Audited)
Property		$	4,993,765		$	4,972,344
Accumulated Depreciation			(789,244	)		(774,321	)
Property Held for Sale, net			7,590
Investment in Real Estate Joint Ventures and Partnerships			297,412			300,756
Notes Receivable from Real Estate Joint Ventures and Partnerships			109,661			81,818
Unamortized Debt and Lease Costs			118,368			114,969
Accrued Rent and Accounts Receivable, net			95,628			94,607
Cash and Cash Equivalents			61,488			65,777
Restricted Deposits and Mortgage Escrows			31,066			38,884
Other			117,951			98,509
	Total Assets	$	5,043,685		$	4,993,343
Debt		$	3,214,656		$	3,165,059
Accounts Payable and Accrued Expenses			117,111			155,137
Other			99,754			104,439
	Total Liabilities		3,431,521			3,424,635
Minority Interest			160,449			96,885
Preferred Shares of Beneficial Interest			8			8
Common Shares of Beneficial Interest			2,528			2,565
Treasury Shares of Beneficial Interest						(41	)
Accumulated Additional Paid in Capital			1,444,180			1,442,027
Net Income in Excess of Accumulated Dividends			27,459			42,739
Accumulated Other Comprehensive Loss			(22,460	)		(15,475	)
	Total Shareholders' Equity		1,451,715			1,471,823
	Total Liabilities and Shareholders' Equity	$	5,043,685		$	4,993,343

5

EX-99.2

EXHIBIT 99.2

Supplemental Financial Information

March 31, 2008

(Unaudited)

Table of Contents		Page No.
Corporate Profile		1
Consolidated Statements of Income		2
Consolidated Balance Sheets		3
Summary Operating Data		4 - 5
	Funds from Operations
	Dividends
	General and Administrative Expenses
	Net Operating Income
	Rentals
	Interest Expense
	Fee Income From Real Estate Joint Ventures and Partnerships
	Property
Joint Venture Reporting		6 - 9
	Financial Statements of Unconsolidated Joint Ventures and Partnerships at 100%
	Financial Statements of Unconsolidated Joint Ventures and Partnerships at Prorata Share
	Investments in Unconsolidated Real Estate Joint Ventures and Partnerships
	Mortgage Debt Information for Unconsolidated Real Estate Joint Ventures and Partnerships
Summary Balance Sheet Information		10
	Common Share Data
	Capitalization
	Capital Availability
	Credit Ratings
Debt Information		11 - 12
	Outstanding Balance Summary
	Fixed vs Variable Rate Debt
	Secured vs Unsecured Debt
	Coverage Ratios
	Weighted Average Interest Rates
	Schedule of Maturities
Other Information		13 - 14
	Tenant Diversification
	Lease Expirations
	Leasing Production
	Average Minimum Rent per Square Foot
	Occupancy
Property Information		15 - 37
	Property Investment Summary
	Acquisition Summary
	Disposition Summary
	New Development Properties (by Stabilization)
	Total Net Operating Income at Prorata Share by Geographic Region
	Average Base Rents by CBSA
	Property Listing
Statements of Consolidated Income at Prorata Share		38
Consolidated Balance Sheets at Prorata Share		39
This supplemental financial information package contains historical information of the Company.
Certain information contained in this Supplemental Financial Information package includes certain forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term that involve a number of risks and uncertainties; however, many factors may materially affect the actual results, including demand for our properties, changes in rental and occupancy rates, changes in property operating costs, interest rate fluctuations, and changes in local and general economic conditions.  Accordingly, there is no assurance that WRI’s expectations will be realized.

Corporate Profile
Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act
that, through its predecessor entity, began the ownership and development of shopping centers and other commercial
real estate in 1948.  As of March 31, 2008, we owned or operated under long-term leases, interests in 381
developed income-producing properties and 35 properties that are in various stages of development (including 7
which are income-producing), which are located in 23 states that span the United States from coast to coast.  Included in the
portfolio are 335 shopping centers, 78 industrial projects, and 3 other operating properties.  Our interests in these properties
aggregated approximately 48.8 million square feet of leasable area.  Our properties were 93.7% leased as of March 31, 2008,
and historically our portfolio occupancy rate has never been below 90%.
Corporate Office
	2600 Citadel Plaza Drive
	P. O. Box 924133
	Houston, TX 77292-4133
	713-866-6000
	www.weingarten.com
Regional Offices
	Atlanta, GA
	Dallas, TX
	Ft. Lauderdale, FL
	Las Vegas, NV
	Los Angeles, CA
	Orlando, FL
	Phoenix, AZ
	Raleigh, NC
	Sacramento, CA
Stock Listings
New York Stock Exchange:
	Common Shares	WRI
	Series D Preferred Shares	WRI-PD
	Series E Preferred Shares	WRI-PE
	Series F Preferred Shares	WRI-PF

Page 1

Weingarten Realty Investors
Consolidated Statements of Income
(in thousands, except per share amounts)
(as reported)
	Three Months Ended
	March 31,						Twelve Months Ended December 31,
	2008			2007			2007			2006			2005			2004
Revenues:
Rentals	$	152,428		$	140,668		$	582,497		$	528,281		$	478,581		$	429,842
Other		2,732			2,020			13,327			6,826			6,219			8,202
Total		155,160			142,688			595,824			535,107			484,800			438,044
Expenses:
Depreciation and amortization		43,324			31,685			130,931			120,765			110,278			98,071
Operating		26,748			23,042			105,619			87,475			72,668			68,100
Ad valorem taxes		18,249			16,184			68,248			62,318			55,857			49,434
General and administrative		6,854			6,609			26,979			23,801			17,379			16,122
Impairment loss																	3,200
Total		95,175			77,520			331,777			294,359			256,182			234,927
Operating Income		59,985			65,168			264,047			240,748			228,618			203,117
Interest Expense		(35,480	)		(36,089	)		(148,829	)		(145,374	)		(129,160	)		(116,142	)
Interest and Other Income		1,049			1,712			8,486			9,044			2,860			1,389
Loss on Redemption of Preferred Shares																	(3,566	)
Equity in Earnings of Real Estate Joint Ventures andPartnerships, net (a)		5,247			3,347			19,853			14,655			6,610			5,384
Income Allocated to Minority Interests		(1,826	)		(1,178	)		(10,237	)		(6,414	)		(6,060	)		(4,928	)
Gain on Sale of Properties		12			2,089			4,086			22,493			22,306			1,562
Gain on Land and Merchant Development Sales		519			666			16,385			7,166			804
(Provision) Benefit for Income Taxes		(747	)		9			(4,073	)		(1,366	)
Income From Continuing Operations		28,759			35,724			149,718			140,952			125,978			86,816
Operating Income From Discontinued Operations		265			2,805			4,640			18,564			28,216			29,682
Gain on Sale of Properties From Discontinued Operations		8,370			12,856			83,659			145,494			65,459			24,883
Income From Discontinued Operations		8,635			15,661			88,299			164,058			93,675			54,565
Net Income		37,394			51,385			238,017			305,010			219,653			141,381
Preferred Share Dividends		(8,618	)		(4,728	)		(25,375	)		(10,101	)		(10,101	)		(7,470	)
Net Income Available to Common Shareholders	$	28,776		$	46,657		$	212,642		$	294,909		$	209,552		$	133,911
Net Income Per Common Share - Basic	$	0.34		$	0.54		$	2.49		$	3.36		$	2.35		$	1.55
Net Income Per Common Share - Diluted	$	0.34		$	0.53		$	2.44		$	3.27		$	2.31		$	1.54
(a) See Page 7 for the Company's prorata share of the operating results of its unconsolidated real estate joint ventures and partnerships.

Page 2

Weingarten Realty Investors
Consolidated Balance Sheets
(in thousands, except per share amounts)
(as reported)
	March 31,			December 31,
	2008			2007
ASSETS
Property	$	4,993,765		$	4,972,344
Accumulated Depreciation		(789,244	)		(774,321	)
Property Held for Sale, net		7,590
Property, net		4,212,111			4,198,023
Investment in Real Estate Joint Ventures and Partnerships (a)		297,412			300,756
Total		4,509,523			4,498,779
Notes Receivable from Real Estate Joint Ventures and Partnerships		109,661			81,818
Unamortized Debt and Lease Costs		118,368			114,969
Accrued Rent and Accounts Receivable (net of allowance for doubtful
accounts of $8,990 in 2008 and $8,721 in 2007)		95,628			94,607
Cash and Cash Equivalents		61,488			65,777
Restricted Deposits and Mortgage Escrows		31,066			38,884
Other		117,951			98,509
Total	$	5,043,685		$	4,993,343
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	3,214,656		$	3,165,059
Accounts Payable and Accrued Expenses		117,111			155,137
Other		99,754			104,439
Total		3,431,521			3,424,635
Minority Interest		160,449			96,885
Commitments and Contingencies
Shareholders' Equity:
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000
6.75% Series D cumulative redeemable preferred shares of beneficial interest;  100 shares issued and outstanding in 2008 and 2007;  liquidation preference $75,000		3			3
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2008 and 2007;  liquidation preference $72,500		1			1
6.5% Series F cumulative redeemable preferred shares of beneficial interest; 80 shares issued and outstanding in 2008 and 2007; liquidation preference $200,000		2			2
Variable-rate Series G cumulative redeemable preferred shares of beneficial interest, 80 shares issued and outstanding in 2008 and 2007; liquidation preference $200,000		2			2
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 83,933 in 2008 and 85,146 in 2007		2,528			2,565
Treasury Shares of Beneficial Interest - par value, $.03 per share; 1,370 shares outstanding in 2007					(41	)
Accumulated Additional Paid-In Capital		1,444,180			1,442,027
Net Income in Excess of Accumulated Dividends		27,459			42,739
Accumulated Other Comprehensive Loss		(22,460	)		(15,475	)
Shareholders' Equity		1,451,715			1,471,823
Total	$	5,043,685		$	4,993,343
(a) This represents the Company's investment of its unconsolidated real estate joint ventures and partnerships. See page 7 for additional information.

Page 3

Weingarten Realty Investors
Summary Operating Data
(in thousands, except per share amounts)
	Three Months Ended
	March 31,
	2008			2007
Funds from Operations
Numerator:
Net income available to common shareholders	$	28,776		$	46,657
Depreciation and amortization		42,302			31,979
Depreciation and amortization of unconsolidated real estate joint ventures and partnerships		2,540			2,057
Gain on sale of properties		(7,736	)		(14,945	)
Gain on sale of properties of unconsolidated real estate joint ventures and partnerships		(14	)
Funds from Operations - Basic		65,868			65,748
Funds from operations attributable to operating partnership units					1,106
Funds from Operations - Diluted	$	65,868		$	66,854
Denominator:
Weighted average shares outstanding - Basic		83,679			86,005
Effect of dilutive securities:
Share options and awards		488			1,123
Operating partnership units					2,681
Weighted average shares outstanding - Diluted		84,167			89,809
Funds from Operations per Share - Basic	$	0.79		$	0.76
Funds from Operations Per Share - Diluted	$	0.78		$	0.74
Growth in Funds from Operations per Share - Diluted					5.4	%
Dividends
Common Dividends per Share	$	0.525		$	0.495
Common Dividends Paid as a % of Funds from Operations		66.9	%		65.1	%
General and Administrative Expenses
General and Administrative Expenses/Total Revenue		4.4	%		4.6	%
General and Administrative Expenses/Total Assets before Depreciation		0.12	%		0.13	%
Net Operating Income *
Same Property NOI Growth: **
Retail		0.7	%		3.2	%
Industrial		1.8	%		2.5	%
Total		0.8	%		3.1	%
*     Includes the Company's share of unconsolidated real estate joint ventures and partnerships and excludes its partners' share of consolidated real estate joint ventures and partnerships ("Prorata Share").
**   Same Property NOI Growth excludes the effect of lease cancellation income and straight line rent adjustments.
The National Association of Real Estate Investment Trusts defines funds from operations as net income (loss) available to common shareholders computed in accordance with generally accepted accounting principles, excluding gains or losses from sales of real estate assets and extraordinary items, plus depreciation and amortization of operating properties, including our share of unconsolidated real estate joint ventures and partnerships.  We calculate FFO in a manner consistent with the NAREIT definition.
Management uses FFO as a supplemental measure to conduct and evaluate our business because there are certain limitations associated with using GAAP net income by itself as the primary measure of our operating performance. Historical cost accounting for real estate assets in accordance with GAAP implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, management believes that the presentation of operating results for real estate companies that uses historical cost accounting is insufficient by itself. There can be no assurance that FFO presented by us is comparable to similarly titled measures of other REITs.
FFO should not be considered as an alternative to net income or other measurements under GAAP as an indicator of our operating performance or to cash flows from operating, investing or financing activities as a measure of liquidity. FFO does not reflect working capital changes, cash expenditures for capital improvements or principal payments on indebtedness.

Page 4

Weingarten Realty Investors
Summary Operating Data (continued)
(in thousands)
	Three Months Ended
	March 31,
	2008			2007
Rentals
Base minimum rent, net	$	115,814		$	108,307
Straight line rent		2,699			2,169
Adjustment for out-of-market mortgage debt acquired		890			785
Percentage rent		1,602			1,792
Tenant reimbursements		31,423			27,615
Total	$	152,428		$	140,668
	Three Months Ended
	March 31,
	2008			2007
Interest Expense
Interest paid or accrued	$	42,259		$	43,746
Adjustment for out-of-market mortgage debt acquired		(1,601	)		(1,802	)
Gross interest expense		40,658			41,944
Less:
Capitalized interest		(5,178	)		(5,855	)
Interest expense	$	35,480		$	36,089
	Three Months Ended
	March 31,
	2008			2007
Fee Income from Real Estate Joint Ventures and Partnerships
Recurring	$	1,632		$	1,053
Non-Recurring		-			20
Total	$	1,632		$	1,073
	March 31,			December 31,
	2008			2007
Property
Land	$	973,767		$	974,145
Land held for development		60,913			62,033
Land under development		227,769			223,827
Buildings and improvements		3,529,694			3,533,037
Construction in-progress		201,622			179,302
Total	$	4,993,765		$	4,972,344

Page 5

Weingarten Realty Investors
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at 100%
(in thousands)
	Three Months Ended
	March 31,
	2008			2007
Revenues:	$	38,673		$	31,219
Expenses:
Depreciation and amortization		8,618			7,003
Interest		3,921			5,090
Operating		6,263			4,615
Ad valorem taxes		4,788			4,055
General and administrative		265			165
Total		23,855			20,928
Gain on land and merchant development sales		495
Gain on sale of properties		38
Net income	$	15,351		$	10,291
	March 31,			December 31,
	2008			2007
ASSETS
Property	$	1,695,028		$	1,660,915
Accumulated depreciation		(80,207	)		(71,998	)
Property, net		1,614,821			1,588,917
Other assets		217,166			238,166
Total	$	1,831,987		$	1,827,083
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	377,650		$	378,206
Amounts payable to Weingarten Realty Investors		114,389			87,191
Other liabilities		125,687			138,150
Accumulated equity		1,214,261			1,223,536
Total	$	1,831,987		$	1,827,083

Page 6

Weingarten Realty Investors
Financial Statements of Unconsolidated Real Estate Joint Ventures and Partnerships at Prorata Share
(in thousands)
	Three Months Ended
	March 31,
	2008			2007
Revenues:	$	10,680		$	9,198
Expenses:
Depreciation and amortization		2,540			2,057
Interest		813			1,503
Operating		1,756			1,373
Ad valorem taxes		1,310			1,122
General and administrative		83			72
Total		6,502			6,127
Gain on land and merchant development sales		182
Gain on sale of properties		14
Net Income	$	4,374		$	3,071
	March 31,			December 31,
	2008			2007
ASSETS
Property	$	471,410		$	456,007
Accumulated Depreciation		(28,995	)		(26,604	)
Property, net		442,415			429,403
Other Assets		83,014			89,310
Total	$	525,429		$	518,713
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	115,919		$	115,967
Amounts Payable to Weingarten Realty Investors		54,592			40,852
Accounts Payable and Accrued Expenses		49,393			53,315
Total		219,904			210,134
Accumulated Equity		305,525			308,579
Total	$	525,429		$	518,713
Notes: The Consolidated Financial Statements at prorata share include only the real estate operations of joint ventures and partnerships at WRI's ownership percentages. Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

Page 7

Weingarten Realty Investors
Investments in Unconsolidated Real Estate Joint Ventures & Partnerships
March 31, 2008
(In Thousands)
									Weingarten Realty
Joint Venture Partner	Number of Properties		Total GLA		Total Assets		Total Debt		Ownership Interest			Share of Debt		Investment Balance		Equity in Earnings of Unconsolidated JVs
TIAA Florida Retail LLC		7		1,261	$	344,351	$	-		20.0	%	$	-	$	65,715	$	829
AEW SRP, LLC		9		895		173,336		105,384		25.0	%		26,346		14,578		(119	)
Collins		8		1,096		138,888		12,058		50.0	%		6,029		48,194		716
AEW - Institutional Client		6		523		137,805		70,449		20.0	%		14,090		12,336		152
BIT Retail		3		715		-		-		20.0	%		-		29,345		(0	)
BIT Investment Thirty-Six, LP		12		4,068		236,919		25,015		20.0	%		5,003		34,516		382
Eagle AN, LP		7		2,050		51,566		35,970		20.0	%		7,194		-		18
Other		24		3,050		749,122		128,775		44.5	%		57,257		92,728		3,269
Total		76		13,658	$	1,831,987	$	377,650		26.7	%	$	115,919	$	297,412	$	5,247
Joint Venture Description
RETAIL
TIAA Florida Retail LLC	Joint venture with an institutional partner, TIAA-CREF Global Real Estate.
AEW SPR, LLC	Retail joint venture with an institutional partner through AEW Capital Management
Collins	Primarily a development joint venture in the Texas Rio Grande valley
AEW - Institutional Client	Joint venture with an institutional partner through AEW Capital Management
BIT Retail	Retail joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
INDUSTRIAL
BIT Investment Thirty-Six, LP	Industrial joint venture with Mercantile Real Estate Advisors and its client, the AFL-CIO Building Investment Trust
Eagle AN, LP	Industrial joint venture with American National Insurance Company

Page 8

Weingarten Realty Investors
Mortgage Debt Information for Unconsolidated Real Estate Joint Ventures & Parnerships
March 31, 2008
(In Thousands)
Joint Venture Partner	Number of Properties		Mortgage Balance		Average Interest Rate (1)			Average Remaining Term (yrs)
TIAA Florida Retail LLC		7		-		-			-
AEW SRP, LLC		9	$	105,384		5.7	%		7.8
Collins		8		12,058		6.0	%		13.3
AEW - Institutional Client		6		70,449		5.7	%		5.9
BIT Retail		3		-		-			-
BIT Investment Thirty-Six, LP		12		25,015		6.4	%		3.6
Eagle AN, LP		7		35,970		8.1	%		2.4
Other		24		53,057		5.6	%		5.5
Total		76	$	301,932		6.0	%		6.2
(1) All mortgages are fixed rate except for one of the "other" which has a variable-rate mortgage ($3.4 million).

Page 9

Weingarten Realty Investors
Summary Balance Sheet Information
(in thousands, except common share data and percentages)
	March 31,			December 31,
	2008			2007
Common Share Data
Closing Market Price	$	34.44		$	31.44
Dividend Yield		6.10	%		6.30	%
90-Day Average Trading Volume		626,713			468,050
Capitalization (As reported)
Debt	$	3,214,656		$	3,165,059
Preferred Shares		547,500			547,500
Common Shares at Market		2,890,653			2,633,917
Operating Partnership Units at Market		81,382			75,959
Total Market Capitalization	$	6,734,191		$	6,422,435
Debt to Total Market Capitalization		47.7	%		49.3	%
Capitalization (Prorata)
Debt	$	3,160,646		$	3,242,349
Preferred Shares		547,500			547,500
Common Shares at Market		2,890,653			2,633,917
Operating Partnership Units at Market		81,382			75,959
Total Market Capitalization	$	6,680,181		$	6,499,725
Debt to Total Market Capitalization		47.3	%		49.9	%
Capital Availability
Unused Portion of $575 MM Revolver	$	288,684		$	310,793
Shelf Registration - $1 Billion Effective April 2003		85,430			85,430
Shelf Registration - $1.5 Billion Effective September 2004		1,300,000			1,300,000
Shelf Registration - $50 Million Effective September 2004		50,000			50,000
Total	$	1,724,114		$	1,746,223
Credit Ratings	S&P			Moody's
Senior Debt	BBB+			Baa1
Preferred Shares	BBB			Baa2

Page 10

Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
					1st Quarter						4th Quarter
		March 31,			Weighted			December 31,			Weighted
		2008			Average Rate			2007			Average Rate
Outstanding Balance Summary (1)
Mortgage Debt		$	1,064,298			6.46	%	$	1,035,578			7.19	%
7% 2011 Bonds			200,000			7.00	%		200,000			7.00	%
3.95% Convertible Bonds (2)			575,000			3.95	%		575,000			3.95	%
Unsecured Notes Payable			1,065,867			5.86	%		1,065,867			5.87	%
Revolving Credit Agreements (3)			275,940			4.23	%		255,000			5.54	%
Industrial Revenue Bonds			3,826			4.27	%		3,889			4.92	%
Obligations under Capital Leases			29,725			5.87	%		29,725			6.22	%
	Total Debt - As Reported		3,214,656			5.63	%		3,165,059			6.08	%
Less: Minority Partners' Interests			(169,529	)					(38,677	)
Plus: WRI Share of Unconsolidated Joint Ventures			115,519						115,967
	Total Debt - Prorata Share	$	3,160,646			5.67	%	$	3,242,349			6.06	%
		March 31,						December 31,
		2008			% of Total			2007			% of Total
Fixed vs Variable Rate Debt (at Prorata Share)
(includes the effect of interest rate swaps)
Fixed-rate debt		$	2,817,406			89.1	%	$	2,919,947			90.1	%
Variable-rate debt			343,240			10.9	%		322,402			9.9	%
	Total	$	3,160,646			100.0	%	$	3,242,349			100.0	%
Secured vs Unsecured Debt (at Prorata Share)
Secured Debt		$	1,042,063			33.0	%	$	1,146,843			35.4	%
Unsecured Debt			2,118,583			67.0	%		2,095,506			64.6	%
	Total	$	3,160,646			100.0	%	$	3,242,349			100.0	%
Coverage Ratios (at Prorata Share trailing 4 quarters)
Fixed Charge Coverage			2.08x						2.07x
Interest Coverage			2.35x						2.29x
Debt Service Coverage			2.30x						2.24x
		As			Prorata
		Reported			Share
Weighted Average Interest Rates (1)
Three months ended 03/31/08			5.63%			5.67	%
Twelve months ended 12/31/07			6.08%			6.07	%
(1)	Weighted average interest rates exclude the effects of FAS 141 and loan costs related to financing.
(2)	The convertible bonds mature August 1, 2026 with a call option anytime after August 2011 and an initial conversion price of $49.075 per share.
(3)	Weighted average revolving interest rate excluding the effect of the commitment fee was 3.99% in first quarter 2008 and 5.23% in fourth quarter 2007.

Page 11

Weingarten Realty Investors
Debt Information
(in thousands, except percentages)
Schedule of Maturities at March 31, 2008
	As Reported					Prorata Share
	Maturities		Rate (6)			Maturities		Rate (6)			Floating Rate			Fixed Rate
2008 (1) (2)		128,434		6.57	%		130,514		6.63	%		4,840			125,674
2009		113,506		6.47	%		113,280		6.56	%		9,795			103,485
2010		119,183		6.44	%		127,971		6.48	%		745			127,226
2011 (3)		891,893		4.94	%		885,562		4.94	%		488			885,074
2012		335,317		5.51	%		321,731		5.52	%		679			321,052
2013		334,984		5.70	%		287,084		5.64	%		841			286,243
2014		375,249		5.36	%		386,521		5.37	%		3,102			383,419
2015		249,943		6.04	%		217,223		5.61	%		1,124			216,099
2016		143,517		5.88	%		172,992		5.60	%		1,296			171,696
2017		29,680		5.59	%		33,657		5.51	%		1,456			32,201
Thereafter		166,102		6.63	%		157,263		6.01	%		30,793			126,470
Subtotal		2,887,808					2,833,798					55,159			2,778,639
Revolvers (4)		275,940		4.23	%		275,940		4.23	%		275,940
Other (5)		50,908					50,908								50,908
Swap Maturities:
2014												50,000			(50,000	)
2029												(37,859	)		37,859
Total	$	3,214,656		5.63	%	$	3,160,646		5.67	%	$	343,240		$	2,817,406
(1) Includes $2.7 million of amortizing industrial revenue bonds with a final maturity date of 2015 that are currently callable by the lender.
(2) Includes $25 million of MTN's maturing 2028 with 10, 12 and 20 year put options.
(3) Includes $575 million of Convertible debt maturing in 2026 with a 5 year call option.
(4) Includes the effect of the commitment fee.
(5) Other includes capital leases, FAS 141 adjustment and market value of swaps.
(6) Interest rates exclude the effects of FAS 141 and loan costs related to financing.

Page 12

Weingarten Realty Investors
Tenant Diversification by Percent of Rental Revenues at Prorata Share
(in thousands, except percentages and # of units)
						% of
						Prorata
				# of Units		Rental			Square
Rank		Tenant Name	DBA’s			Revenue			Feet
	1	THE KROGER CO.	Kroger, Smith Food, Ralphs, Fry's Food, King Soopers		30		2.26	%		1,606
	2	T.J.X. COMPANIES, INC.	T.J. Maxx, Marshalls, Home Goods		32		1.52	%		809
	3	ROSS STORES, INC.	Ross Dress for Less		32		1.42	%		707
	4	SAFEWAY, INC.	Safeway, Randalls, Von's		20		1.37	%		989
	5	PUBLIX SUPER MARKETS, INC.			21		1.13	%		734
	6	HOME DEPOT, INC.			7		1.13	%		806
	7	OFFICE DEPOT, INC.			26		0.99	%		525
	8	BLOCKBUSTER VIDEO			52		0.87	%		261
	9	GAP, INC.	Gap, Old Navy, Banana Republic		19		0.82	%		297
	10	PETSMART, INC.			17		0.81	%		326
	11	BARNES & NOBLE INC.	Barnes & Noble, Bookstop Booksellers		11		0.77	%		252
	12	CIRCUIT CITY			8		0.77	%		293
	13	PETCO ANIMAL SUPPLIES, INC.			23		0.73	%		264
	14	H E BUTT GROCERY			6		0.68	%		375
	15	OFFICE MAX INC.			12		0.62	%		269
	16	LINENS 'N THINGS, INC.			10		0.58	%		251
	17	BED BATH & BEYOND, INC.			17		0.58	%		323
	18	RALEY'S	Raley's Bel Air Markets		6		0.55	%		331
	19	HARRIS TEETER			6		0.54	%		287
	20	TOYS 'R' US			9		0.53	%		312
	21	STAPLES			11		0.52	%		258
	22	ACADEMY SPORTS & OUTDOORS			5		0.50	%		567
	23	DOLLAR TREE STORES, INC.	Dollar Tree, Greenbacks		29		0.49	%		264
	24	BEST BUY, INC.			9		0.49	%		210
	25	SUPERVALU, INC.			8		0.45	%		317
		Total			426		21.12	%		11,633

Page 13

Weingarten Realty Investors
Leasing Information
(in thousands, except percentages and # of units and leases, prorata share)
Lease Expirations
	Shopping Center						Industrial						Total
	Percentage of						Percentage of						Percentage of
				Prorata						Prorata						Prorata
Year Expiring	Sq. Ft.			Revenue			Sq. Ft.			Revenue			Sq. Ft.			Revenue
2008		5.44	%		5.69	%		13.50	%		14.38	%		7.37	%		6.65	%
2009		12.02	%		12.14	%		19.38	%		18.01	%		13.78	%		12.78	%
2010		13.55	%		14.87	%		16.82	%		18.01	%		14.32	%		15.21	%
2011		13.73	%		14.63	%		10.96	%		12.43	%		13.05	%		14.38	%
2012		11.90	%		13.08	%		16.64	%		15.94	%		13.03	%		13.39	%
2013-2017		26.95	%		26.35	%		22.34	%		20.93	%		25.81	%		25.74	%
2018-2027		15.49	%		12.45	%		0.37	%		0.30	%		11.94	%		11.14	%
Leasing Production - New Leases and Renewals
				Number						Increase
				of Leases			Square Feet			in Base Rent
Three Months Ended
March 31, 2008
Retail					239			1,086			13.4	%
Industrial					49			643			8.0	%
Total					288			1,729			12.5	%
Three Months Ended
March 31, 2007
Retail					256			1,200			10.4	%
Industrial					48			909			4.1	%
Total					304			2,109			9.0	%
Average Minimum Rent per Square Foot
	Quarter Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2008			2007			2007			2007			2007
Retail	$	12.73		$	12.57		$	12.37		$	12.29		$	12.14
Industrial	$	4.92		$	4.86		$	4.90		$	4.85		$	4.98
Occupancy	Quarter Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
	2008			2007			2007			2007			2007
Shopping Center Portfolio		94.8	%		95.1	%		95.2	%		95.6	%		95.4	%
Industrial Portfolio		90.7	%		92.0	%		94.5	%		94.6	%		90.8	%
Total Portfolio		93.7	%		94.4	%		95.1	%		95.3	%		94.4	%
Note: A space is considered occupied upon execution of a lease agreement.

Page 14

Weingarten Realty Investors
Property Information
(in thousands at prorata share)
Property Investment Summary
			New		Major		All
	Acquisitions		Development		Repairs		Other		Total
Three Months Ended 3/31/2008	$	288	$	46,897	$	3,518	$	15,672	$	66,375
Year Ended 12/31/2007		565,427		218,239		18,236		64,035		865,938
Year Ended 12/31/2006		602,987		166,999		14,338		32,757		817,081
Year Ended 12/31/2005		358,990		33,171		12,858		36,791		441,810
Year Ended 12/31/2004		511,245		37,836		12,265		41,983		603,329

Page 15

Weingarten Realty Investors
Acquisition Summary
(in thousands at prorata share)
		Sq. Ft.
		of Bldg. Area	Date	Total
Center	City/State	at 100%	Acquired	Investment		Yield
Joint Venture Acquisitions
Shopping Centers
Shoppes of Port Charlotte (25%)	Port Charlotte, FL	4	01/08/08	$	288	7.00%
Grand Total Acquisitions (Y-T-D)		4		$	288	7.00%

Page 16

Weingarten Realty Investors
Disposition Summary
(in thousands at prorata share)
		Sq. Ft.
		of Bldg. Area		Date	Sales		Weighted Sales
Center	City/State	at 100%		Sold	Proceeds		Cap
Operating Property Sales
Shopping Centers
Eastpark Shopping Center	Houston, TX		113	2/1/08
Ralph's Center	Redondo Beach, CA		60	3/11/08
Total Operating Property Sales (Y-T-D)			173		$	19,135		6.96	%
Land and Merchant Development Sales
Shopping Centers
Green Valley Ranch - KFC	Denver, CO			1/9/08
Eastpark - Land	Houston, TX			1/31/08
Westwood Center - Firstmark Credit Union	San Antonio, TX			3/14/08
Total Land and Merchant Development Sales (Y-T-D)					$	4,049
Grand Total					$	23,184

Page 17

	Weingarten Realty Investors
	New Development Properties (By Stabilization)
	(in thousands at prorata share, except percentages)
						Total		Percent				Spent				Total
						Square Feet		Leased (1)				Year				Estimated					Est.
				WRI		of Building		Net				To-		Spent		Investment (2)					Final	Estimated
				Own		Area (1)		@				Date		Inception		WRI		Gross			ROI	Stabilized
	Center Name	Location	Anchors	%		(Gross)	Net	100%		Gross		2008		To-Date		Costs		Costs			%	Date
1	Sharyland Towne Crossing*	Mission, Texas	Target #, HEB	50.0	%	489	178	96.3	%	97.3	%		769		25,647		25,916		51,831			1Q'08
2	Raintree Ranch Center	Chandler (Phoenix),Arizona	Whole Foods	100.0	%	140	137	93.5	%	93.7	%		1,320		29,105		29,105		29,105			1Q'08
3	The Village at Liberty Lake*	Liberty Lake, Washington	Home Depot #	50.0	%	159	0	100.0	%	100.0	%		0		175		0		0	(3)		2Q'08
4	Colonial Landing	Orlando, Florida	HH Greg, Bed  Bath, PetSmart,  TSA	50.0	%	267	133	93.7	%	93.7	%		1,011		13,998		15,655		31,309			3Q'08
5	Jess Ranch Marketplace*	Apple Valley (Los Angeles),California	Winco #, Mervyn's	50.0	%	308	107	85.9	%	90.2	%		1,997		15,444		18,332		36,664			4Q'08
6	Railwood G (Industrial)*	Houston, Texas	Sumotiomo	50.0	%	211	105	100.0	%	100.0	%		830		830		5,555		11,109			4Q'08
	Total 2008 Stabilizations					1,573	661	94.2	%	95.6	%	$	5,926	$	85,200	$	94,562	$	160,019
7	Market at Nolana*	McAllen, Texas	Wal-Mart #	50.0	%	267	24	55.1	%	91.9	%		384		4,654		4,334		8,668			2009
8	Market at Sharyland Place*	Mission, Texas	Kohl's	50.0	%	113	56	81.0	%	81.0	%		125		1,947		3,029		6,058			2009
9	Phillips Crossing	Orlando, Florida	Whole Foods	100.0	%	147	147	73.2	%	73.2	%		3,052		16,360		24,880		24,880			2009
10	Waterford	Leland (Wilmington), North Carolina	Harris Teeter	75.0	%	118	74	66.6	%	72.3	%		1,415		9,281		11,276		15,034			2009
11	The Shoppes at Parkwood Ranch	Mesa (Phoenix), Arizona	Hobby Lobby	100.0	%	121	108	64.4	%	68.2	%		973		6,112		18,743		18,743			2009
12	Phillips Village	Orlando, Florida	Wal-Mart #	100.0	%	286	66	58.6	%	90.4	%		280		13,126		15,701		15,701			2009
13	Palm Coast Landing at Town Center	Palm Coast, Florida	Target #	50.0	%	412	106	67.2	%	83.0	%		3,410		13,658		19,647		39,295			2009
14	Curry Ford Road	Orlando, Florida	McDonalds #	100.0	%	20	11	0.0	%	0.0	%		-200		1,967		2,845		2,845			2009
15	Claypoint Distribution Park (Industrial)	Houston, Texas	Expansion	100.0	%	359	359	16.7	%	16.7	%		981	1917			17,686		17,686			2009
	Total 2009 Stabilizations					1,844	953	51.8	%	69.1	%	$	10,421	$	69,023	$	118,140	$	148,909
16	Riverpoint at Sheridan*	Sheridan (Denver), Colorado	Target #, Costco #	50.0	%	767	219	10.3	%	48.8	%		7,816		23,323		37,025		74,050			2010
17	Gateway Station	Burleson (Fort Worth), Texas	Kohl's #, Conn's	70.0	%	174	59	35.7	%	68.9	%		2,411		5,267		9,634		13,763			2010
18	Tomball Marketplace	Tomball (Houston), Texas	Academy #	100.0	%	351	245	0.0	%	30.2	%		385		26,676		43,727		43,727			2010
19	Jess Ranch Marketplace Phase III*	Apple Valley (Los Angeles), California	Cinemark	50.0	%	191	96	74.6	%	74.6	%		1,242		7,471		22,221		44,442			2010
20	Clermont Landing	Clermont (Orlando), Florida	JC Penney #, Epic Theater #	55.0	%	312	103	37.1	%	62.3	%		1,827		9,136		17,020		30,946			2010
21	Mohave Crossroads	Bullhead City, Arizona	Target #, Kohl's #	100.0	%	428	230	60.4	%	78.7	%		9,354		23,381		47,390		47,390			2010
22	Horne Street Market	Ft. Worth, Texas	24 Hour Fitness	100.0	%	55	55	77.0	%	77.0	%		111		4,686		13,543		13,543			2010
23	Gardens of Havana	Aurora (Denver), Colorado	Target #	25.0	%	908	126	1.0	%	45.1	%		129		6,618		12,746		50,983			2010
24	Westwood Center	San Antonio, Texas	Wal-Mart #	100.0	%	266	91	4.0	%	1.4	%		236		10,672		17,624		17,624			2010
25	Westover Square	San Antonio, Texas	All Pad Site	67.0	%	60	0	0.0	%	0.0	%		33		2,387		0		0	(3)		2011
26	Ridgeway Trace Center	Memphis, Tennessee	Target #	100.0	%	312	174	0.0	%	44.1	%		2,084		29,494		53,228		53,228			2011
27	North Towne Plaza	Brownsville, Texas	Lowe's #	75.0	%	297	127	0.0	%	42.9	%		1,225		9,049		20,709		27,612			2011
28	Southern Pines Village	Southern Pines, North Carolina		100.0	%	201	69	0.0	%	0.0	%		230		9,092		17,685		17,685			2011
29	Gladden Farms	Marana (Tucsan), Arizona	Fry's #	50.0	%	174	32	0.0	%	62.7	%		11		2,543		6,584		13,169			2011
30	300 West Town Center*	Salt Lake City, Utah		31.8	%	247	26	0.0	%	0.0	%		478		885		6,590		20,704			2011
31	Decatur 215	Las Vegas, Nevada	Target #	50.0	%	376	122	1.0	%	35.9	%		2,280		17,233		40,109		80,217			2011
32	Surf City Crossing	Surf City (Wilmington), North Carolina	Harris Teeter	75.0	%	71	53	69.1	%	69.1	%		146		4,580		5,264		7,018			2011
33	North Sharyland Crossing*	Mission, Texas		50.0	%	320	72	0.0	%	0.0	%		-20		3,637		9,183		18,367			2012
34	South Fulton Crossing	Union City (Atlanta), Georgia		50.0	%	435	129	0.6	%	0.4	%		268		10,585		22,602		45,204			2013
35	Stevens Ranch	San Antonio, Texas		50.0	%	932	283	0.0	%	0.0	%		305		20605		41,765		83,530			2013
	Total 2010 and beyond Stabilizations					6,876	2,311	13.7	%	33.3	%	$	30,550	$	227,320	$	444,650	$	703,203
	Total 35 Properties Under Development					10,293	3,925	36.2	%	49.2	%	$	46,897	$	381,543	$	657,352	$	1,012,130		8.9%
	2008 Stabilizations					1,573	661	94.2	%	95.6	%	$	5,926	$	85,200	$	94,562	$	160,019		9.3%
	2008 - 2009 Stabilizations					3,417	1,614	73.2	%	81.3	%	$	16,347	$	154,223	$	212,702	$	308,927		9.6%
* Unconsolidated Joint Venture
# Denotes anchors that are not owned by Weingarten
(1) Total Building Area (Gross) square footage reflects 100% ownership including square feet owned by other. WRI's share of building area (Net) square footage reflects WRI's ownership percentage excluding square feet owned by other.
(2) Net of expected proceeds not yet received from anchor and pad sales
(3) WRI will not have an investment interest after pad sale considerations

Page 18

Weingarten Realty Investors
Total Net Operating Income at Prorata Share by Geographic Region (1)
(in thousands, except percentages)
	Three Months Ended March 31,								Twelve Months Ended December 31,
	2008		%		2007		%		2007		%		2006			%		2005		%		2004		%
Western Region
California	$	12,249	10.8	%	$	12,644	11.6	%	$	50,507	11.4	%	$	50,086		12.1	%	$	47,913	12.1	%	$	42,212	11.7	%
Nevada		8,497	7.5	%		7,772	7.1	%		31,338	7.1	%		27,796		6.7	%		25,161	6.4	%		19,705	5.5	%
Arizona		6,197	5.5	%		4,900	4.5	%		23,128	5.2	%		15,009		3.6	%		14,965	3.8	%		13,273	3.7	%
Colorado		2,982	2.6	%		3,010	2.8	%		12,122	2.7	%		13,445		3.2	%		11,405	2.9	%		10,865	3.0	%
New Mexico		2,847	2.5	%		2,506	2.3	%		10,310	2.3	%		11,215		2.7	%		10,157	2.6	%		8,207	2.3	%
Utah		904	0.8	%		884	0.8	%		3,545	0.8	%		3,231		0.8	%		2,926	0.7	%		2,741	0.8	%
Oregon		356	0.3	%		95	0.1	%		923	0.2	%		46		0.0	%		-	0.0	%		-	0.0	%
Washington		299	0.3	%		319	0.3	%		1,277	0.3	%		251		0.1	%		-	0.0	%		-	0.0	%
Total Western Region		34,331	30.3	%		32,130	29.5	%		133,150	30.0	%		121,079		29.2	%		112,527	28.5	%		97,003	27.0	%
Central Region
Texas	$	38,738	34.2	%	$	39,447	36.1	%	$	151,190	34.2	%	$	156,789		37.8	%	$	158,847	40.1	%	$	150,907	41.9	%
Louisiana		2,854	2.5	%		3,349	3.1	%		12,831	2.9	%		12,755		3.1	%		15,547	3.9	%		19,783	5.5	%
Kansas		452	0.4	%		577	0.5	%		1,980	0.4	%		3,714		0.9	%		6,282	1.6	%		6,926	1.9	%
Arkansas		708	0.6	%		756	0.7	%		3,025	0.7	%		3,505		0.8	%		3,735	0.9	%		3,351	0.9	%
Mississippi		-	0.0	%		-	0.0	%		-	0.0	%		(6	)	0.0	%		956	0.2	%		1,016	0.3	%
Illinois		783	0.7	%		751	0.7	%		2,378	0.5	%		2,985		0.7	%		2,870	0.7	%		2,959	0.8	%
Missouri		305	0.3	%		435	0.4	%		1,439	0.3	%		2,193		0.5	%		2,827	0.7	%		2,719	0.8	%
Oklahoma		246	0.2	%		277	0.3	%		1,009	0.2	%		3,002		0.7	%		3,616	0.9	%		3,558	1.0	%
Total Central Region		44,086	38.9	%		45,592	41.8	%		173,852	39.2	%		184,937		44.5	%		194,680	49.0	%		191,219	53.1	%
Eastern Region
Florida	$	17,779	15.7	%	$	15,955	14.6	%	$	67,526	15.3	%	$	56,474		13.6	%	$	45,963	11.6	%	$	39,947	11.1	%
North Carolina		6,666	5.9	%		6,760	6.2	%		26,770	6.1	%		23,449		5.7	%		19,575	4.9	%		14,845	4.1	%
Virginia		587	0.5	%		-	0.0	%		2,036	0.5	%		-		0.0	%		-	0.0	%		-	0.0	%
South Carolina		63	0.1	%		68	0.1	%		269	0.1	%		229		0.1	%		-	0.0	%		-	0.0	%
Georgia		6,268	5.5	%		5,374	4.9	%		23,920	5.5	%		14,861		3.6	%		12,119	3.1	%		8,483	2.4	%
Tennessee		1,813	1.6	%		1,656	1.4	%		6,961	1.6	%		7,386		1.8	%		5,967	1.6	%		5,777	1.6	%
Kentucky		1,646	1.5	%		1,672	1.4	%		6,743	1.6	%		5,944		1.4	%		4,719	1.2	%		2,175	0.6	%
Maine		24	0.0	%		110	0.1	%		381	0.1	%		433		0.1	%		538	0.1	%		457	0.1	%
Total Eastern Region		34,846	30.8	%		31,595	28.7	%		134,606	30.8	%		108,776		26.3	%		88,881	22.5	%		71,684	19.9	%
Total Net Operating Income	$	113,263	100.0	%	$	109,317	100.0	%	$	441,608	100.0	%	$	414,792		100.0	%	$	396,088	100.0	%	$	359,906	100.0	%
(1) The Net Operating Income at Prorata Share includes the real estate operations of joint ventures at WRI's ownership percentages ranging from 7.8% to 81% except for the operations of down-reit partnerships, which are included at 100% with the applicable minority interest. Net Operating Income excludes the effect of lease cancellation income and straight-line rent adjustments. Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.

Page 19

Weingarten Realty Investors
Average Base Rents by CBSA
As of: 3/31/2008
In Thousands, except per square foot amounts
Economics reflect WRI's prorata ownership interest
					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
Retail
West Region
Flagstaff, AZ	1	166	$	10.22	126	$	987	$	7.83	40	$	706	$	17.86
Phoenix-Mesa-Scottsdale, AZ	16	1,283	$	14.79	661	$	5,893	$	8.92	520	$	11,572	$	22.25
Tucson, AZ	5	729	$	12.68	489	$	4,427	$	9.06	167	$	3,886	$	23.30
Arizona	22	2,178	$	13.72	1,276	$	11,307	$	8.86	727	$	16,165	$	22.25
Los Angeles-Long Beach et al, CA	3	584	$	17.10	365	$	5,142	$	14.09	163	$	3,883	$	23.84
Madera, CA	1	85	$	12.62	52	$	484	$	9.29	26	$	495	$	19.42
Modesto, CA	1	79	$	14.84	47	$	515	$	10.84	29	$	615	$	21.49
Redding, CA	1	121	$	15.72	65	$	552	$	8.56	54	$	1,309	$	24.31
Riverside et al, CA	3	532	$	18.07	259	$	2,722	$	10.51	208	$	5,710	$	27.51
Sacramento--Arden et al, CA	5	630	$	12.46	330	$	1,746	$	5.29	249	$	5,475	$	21.98
San Diego-Carlsbad et al, CA	2	157	$	20.10	73	$	724	$	9.96	80	$	2,349	$	29.31
San Francisco-Oakland et al, CA	3	447	$	20.94	246	$	3,499	$	14.24	176	$	5,321	$	30.31
San Jose-Sunnyvale et al, CA	2	146	$	18.40	66	$	421	$	6.40	71	$	2,098	$	29.50
Santa Cruz-Watsonville, CA	1	150	$	8.86	93	$	466	$	5.00	47	$	776	$	16.52
Santa Rosa-Petaluma, CA	1	199	$	11.28	162	$	1,368	$	8.45	33	$	834	$	25.05
Vallejo-Fairfield, CA	3	364	$	15.50	180	$	1,139	$	6.34	157	$	4,081	$	25.98
California	26	3,493	$	16.02	1,937	$	18,778	$	9.69	1,292	$	32,944	$	25.51
Colorado Springs, CO	2	297	$	8.96	243	$	1,793	$	7.38	46	$	794	$	17.40
Denver-Aurora, CO	7	599	$	16.48	307	$	3,746	$	12.20	242	$	5,303	$	21.92
No CBSA	1	111	$	10.58	87	$	640	$	7.39	21	$	502	$	23.50
Colorado	10	1,006	$	13.51	637	$	6,179	$	9.70	309	$	6,598	$	21.36
Las Vegas-Paradise, NV	12	2746	$	13.06	1945	$	17,742	$	9.12	689	$	16,653	$	24.18
Nevada	12	2,746	$	13.06	1,945	$	17,742	$	9.12	689	$	16,653	$	24.18
Albuquerque, NM	4	502	$	15.17	335	$	4,178	$	12.46	166	$	3,424	$	20.62
Santa Fe, NM	1	250	$	11.74	155	$	1,319	$	8.53	84	$	1,477	$	17.68
New Mexico	5	752	$	14.06	490	$	5,497	$	11.22	250	$	4,901	$	19.64
Portland-Vancouver et al, OR-WA	3	120	$	13.08	66	$	555	$	8.45	51	$	966	$	19.07
Oregon	3	120	$	13.08	66	$	555	$	8.45	51	$	966	$	19.07
Provo-Orem, UT	1	30	$	14.97	12	$	158	$	13.43	18	$	284	$	16.00
Salt Lake City, UT	2	276	$	12.27	188	$	1,921	$	10.24	83	$	1,401	$	16.86
Utah	3	307	$	12.53	200	$	2,080	$	10.42	101	$	1,685	$	16.71
Seattle-Tacoma-Bellevue, WA	4	82	$	16.59	64	$	934	$	14.66	16	$	384	$	24.38
Washington	4	82	$	16.59	64	$	934	$	14.66	16	$	384	$	24.38
Total West Region	85	10,684	$	14.27	6,613	$	63,073	$	9.54	3,433	$	80,296	$	23.39
Central Region
Little Rock-N. Little Rock, AR	3	358	$	8.60	298	$	2,220	$	7.45	48	$	753	$	15.81
Arkansas	3	358	$	8.60	298	$	2,220	$	7.45	48	$	753	$	15.81
Chicago et al, IL-IN-WI	1	304	$	11.54	268	$	2,647	$	9.87	33	$	834	$	24.97
Illinois	1	304	$	11.54	268	$	2,647	$	9.87	33	$	834	$	24.97
Kansas City, MO-KS	1	135	$	9.53	76	$	601	$	7.89	38	$	485	$	12.83
Topeka, KS	1	116	$	11.26	116	$	1,303	$	11.26	0	$	0	$	0.00
Kansas	2	251	$	10.40	192	$	1,904	$	9.92	38	$	485	$	12.83
Baton Rouge, LA	1	155	$	15.75	69	$	728	$	10.61	84	$	1,673	$	19.95
De Ridder, LA	1	131	$	5.67	36	$	127	$	3.50	50	$	363	$	7.23
Hammond, LA	1	226	$	6.73	135	$	568	$	4.19	89	$	944	$	10.59

Page 20

Weingarten Realty Investors
Average Base Rents by CBSA
As of: 3/31/2008
In Thousands, except per square foot amounts
Economics reflect WRI's prorata ownership interest
					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
Lafayette, LA	2	154	$	9.65	73	$	561	$	7.67	80	$	913	$	11.47
Lake Charles, LA	5	482	$	6.64	305	$	1,548	$	5.07	99	$	1,135	$	11.49
Monroe, LA	1	141	$	5.52	87	$	293	$	3.37	55	$	488	$	8.92
New Orleans-Metairie-Kenner, LA	1	138	$	14.55	78	$	744	$	9.51	75	$	1,486	$	19.78
Shreveport-Bossier City, LA	1	46	$	15.94	27	$	357	$	13.43	13	$	281	$	20.91
Louisiana	13	1,475	$	9.01	810	$	4,925	$	6.08	545	$	7,284	$	13.37
St. Louis, MO-IL	2	229	$	10.20	115	$	1,028	$	8.93	49	$	643	$	13.22
Missouri	2	229	$	10.20	115	$	1,028	$	8.93	49	$	643	$	13.22
Oklahoma City, OK	2	172	$	7.19	107	$	580	$	5.40	47	$	529	$	11.31
Oklahoma	2	172	$	7.19	107	$	580	$	5.40	47	$	529	$	11.31
Amarillo, TX	3	219	$	9.48	133	$	778	$	5.85	152	$	1,924	$	12.65
Austin-Round Rock, TX	1	227	$	15.63	82	$	898	$	10.91	142	$	2,605	$	18.38
Beaumont-Port Arthur, TX	8	413	$	8.68	176	$	802	$	4.55	157	$	2,089	$	13.33
College Station-Bryan, TX	1	107	$	10.76	86	$	923	$	10.74	15	$	163	$	10.90
Corpus Christi, TX	2	490	$	12.82	281	$	2,772	$	9.86	184	$	3,195	$	17.33
Dallas-Fort Worth-Arlington, TX	9	1,307	$	12.18	586	$	5,275	$	9.00	478	$	7,686	$	16.08
Houston-Baytown-Sugar Land, TX	62	5,254	$	12.25	3,772	$	32,715	$	8.67	2,120	$	39,460	$	18.61
Killeen-Temple-Fort Hood, TX	1	115	$	11.92	98	$	1,033	$	10.52	17	$	340	$	19.97
Laredo, TX	2	377	$	13.78	260	$	2,922	$	11.26	106	$	2,120	$	19.91
Lubbock, TX	2	182	$	8.58	143	$	955	$	6.67	39	$	606	$	15.65
Lufkin, TX	1	257	$	6.99	170	$	856	$	5.04	34	$	569	$	16.79
McAllen-Edinburg-Pharr, TX	7	474	$	11.42	355	$	3,411	$	9.61	72	$	1,471	$	20.34
Rio Grande City, TX	1	88	$	11.31	76	$	788	$	10.42	12	$	202	$	16.95
San Antonio, TX	6	610	$	11.03	456	$	3,549	$	7.78	223	$	3,934	$	17.68
Texarkana, TX-Texarkana, AR	1	97	$	3.87	44	$	100	$	2.29	28	$	178	$	6.30
Tyler, TX	1	60	$	8.13	33	$	212	$	6.35	16	$	192	$	11.78
Texas	108	10279	$	11.83	6751	$	57,987	$	8.59	3795	$	66,733	$	17.58
Total Central Region	131	13,066	$	11.34	8,542	$	71,292	$	8.35	4,554	$	77,261	$	16.97
East Region
Fort Walton Beach et al, FL	2	70	$	15.66	50	$	675	$	13.47	16	$	363	$	22.47
Jacksonville, FL	1	312	$	9.03	250	$	1,808	$	7.23	52	$	919	$	17.79
Miami-Fort Lauderdale et al, FL	15	2,129	$	14.69	1,213	$	11,831	$	9.75	798	$	17,707	$	22.20
Orlando, FL	12	1,589	$	14.59	1,032	$	12,011	$	11.64	438	$	9,442	$	21.55
Palm Bay-Melbourne et al, FL	3	182	$	8.80	106	$	618	$	5.82	66	$	899	$	13.61
Port St. Lucie-Fort Pierce, FL	1	50	$	10.52	43	$	381	$	8.91	5	$	117	$	25.76
Punta Gorda, FL	2	25	$	17.73	15	$	215	$	14.34	8	$	184	$	24.50
Sarasota-Bradenton-Venice, FL	1	97	$	10.50	46	$	324	$	7.13	44	$	615	$	13.99
Tampa-St. Petersburg et al, FL	4	924	$	13.01	577	$	5,452	$	9.44	325	$	6,287	$	19.35
Florida	41	5,380	$	13.74	3,333	$	33,317	$	10.00	1,751	$	36,535	$	20.87
Atlanta-Sandy Springs et al, GA	14	1,759	$	13.71	1,139	$	11,715	$	10.28	516	$	10,975	$	21.28
Gainesville, GA	1	78	$	12.59	46	$	427	$	9.35	19	$	383	$	20.47
Georgia	15	1,837	$	13.67	1,185	$	12,141	$	10.25	535	$	11,358	$	21.25
Lexington-Fayette, KY	3	429	$	13.80	207	$	1,837	$	8.88	192	$	3,675	$	19.10
Louisville, KY-IN	1	169	$	12.00	73	$	628	$	8.56	63	$	1,005	$	16.03
Kentucky	4	597	$	13.35	280	$	2,464	$	8.80	255	$	4,680	$	18.34
Lewiston-Auburn, ME	1	154	$	6.77	54	$	355	$	6.60	32	$	227	$	7.07
Maine	1	154	$	6.77	54	$	355	$	6.60	32	$	227	$	7.07
Charlotte-Gastonia et al, NC-SC	4	319	$	17.32	154	$	2,099	$	13.67	136	$	2,909	$	21.45
Durham, NC	6	342	$	10.79	176	$	1,566	$	8.88	119	$	1,621	$	13.63
Raleigh-Cary, NC	14	1,707	$	11.23	1,035	$	7,631	$	7.37	589	$	10,609	$	18.00
Southern Pines-Pinehurst, NC	1	250	$	8.41	174	$	979	$	5.63	73	$	1,095	$	15.06
North Carolina	25	2,618	$	11.61	1,539	$	12,276	$	7.98	917	$	16,234	$	17.71
Hilton Head Island-Beaufort, SC	1	22	$	15.34	5	$	45	$	8.50	13	$	235	$	18.11
South Carolina	1	22	$	15.34	5	$	45	$	8.50	13	$	235	$	18.11

Page 21

Weingarten Realty Investors
Average Base Rents by CBSA
As of: 3/31/2008
In Thousands, except per square foot amounts
Economics reflect WRI's prorata ownership interest
					Occupied	Annualized		Avg. Base		Occupied	Annualized		Avg. Base
	# of				SF	Rents		Rents		SF	Rents		Rents
	Properties	GLA	Total ABR		Greater than 10K SF					Less than 10K SF
Memphis, TN-MS-AR	6	651	$	10.58	439	$	3,605	$	8.21	162	$	2,753	$	17.01
Tennessee	6	651	$	10.58	439	$	3,605	$	8.21	162	$	2,753	$	17.01
Total East Region	93	11,259	$	12.98	6,835	$	64,204	$	9.39	3,664	$	72,021	$	19.66
Total Retail	309	35,009	$	12.73	21,991	$	198,568	$	9.03	11,650	$	229,578	$	19.71
Industrial
West Region
San Diego-Carlsbad et al, CA	1	145	$	6.55	124	$	796	$	6.41	2	$	28	$	17.79
California	1	145	$	6.55	124	$	796	$	6.41	2	$	28	$	17.79
Total West Region	1	145	$	6.55	124	$	796	$	6.41	2	$	28	$	17.79
Central Region
Austin-Round Rock, TX	7	486	$	9.60	86	$	820	$	9.56	350	$	3,362	$	9.61
Dallas-Fort Worth-Arlington, TX	16	2,454	$	4.79	1,679	$	6,932	$	4.13	542	$	3,700	$	6.83
Houston-Baytown-Sugar Land, TX	30	3,662	$	5.42	2,594	$	12,832	$	4.95	681	$	4,930	$	7.24
San Antonio, TX	3	545	$	5.19	313	$	1,608	$	5.13	213	$	1,122	$	5.27
Texas	56	7,146	$	5.47	4,672	$	22,191	$	4.75	1,786	$	13,114	$	7.34
Total Central Region	56	7,146	$	5.47	4,672	$	22,191	$	4.75	1,786	$	13,114	$	7.34
East Region
Lakeland, FL	2	768	$	4.37	708	$	3,089	$	4.37	0	$	0	$	0.00
Tampa-St. Petersburg et al, FL	3	896	$	4.40	825	$	3,614	$	4.38	17	$	94	$	5.48
Florida	5	1,665	$	4.39	1,533	$	6,703	$	4.37	17	$	94	$	5.48
Atlanta-Sandy Springs et al, GA	10	1610	$	3.84	1182	$	4,527	$	3.83	21	$	96	$	4.59
Georgia	10	1,610	$	3.84	1,182	$	4,527	$	3.83	21	$	96	$	4.59
Memphis, TN-MS-AR	3	685	$	2.65	635	$	1,676	$	2.64	2	$	8	$	5.00
Tennessee	3	685	$	2.65	635	$	1,676	$	2.64	2	$	8	$	5.00
Richmond, VA	9	832	$	4.60	620	$	2,820	$	4.55	4	$	50	$	13.55
Virginia	9	832	$	4.60	620	$	2,820	$	4.55	4	$	50	$	13.55
Total East Region	27	4,791	$	3.98	3,969	$	15,726	$	3.96	43	$	248	$	5.73
Total Industrial	84	12,082	$	4.92	8,765	$	38,713	$	4.42	1,831	$	13,390	$	7.31
Joint venture properties are reflected at WRI prorata share
Occupied SF based on commenced leases
# of properties and GLA differ from property list due to new development properties with no commenced leases

Page 22

Weingarten Realty Investors
Property Listing at March 31, 2008
		Gross Leasable Area
	# of	WRI Owned	Joint Venture	Owned
ALL PROPERTIES BY STATE	Properties	Properties	Share	by Other	Total
Arizona	26	2,406,239	5,842	1,299,002	3,711,084
Arkansas	3	357,740	-	-	357,740
California	29	3,840,554	855,164	551,304	5,247,021
Colorado	12	1,031,511	771,687	1,384,863	3,188,059
Florida	50	7,267,504	2,162,640	1,287,288	10,717,432
Georgia	24	3,448,104	694,056	892,003	5,034,164
Illinois	1	303,566	-	-	303,566
Kansas	2	250,855	-	-	250,855
Kentucky	4	597,489	-	122,454	719,943
Louisiana	15	1,474,613	435,491	998,504	2,908,608
Maine	1	153,776	51,258	-	205,034
Missouri	2	229,182	28,267	-	257,449
Nevada	13	2,896,225	1,250	758,099	3,655,574
New Mexico	6	1,019,480	-	396,750	1,416,230
North Carolina	27	2,703,532	162,367	742,374	3,608,273
Oklahoma	2	171,657	-	-	171,657
Oregon	3	119,939	90,927	62,600	273,466
South Carolina	1	21,530	64,590	-	86,120
Tennessee	9	1,336,002	455,189	137,740	1,928,931
Texas	168	17,974,945	4,924,608	3,343,130	26,242,681
Utah	4	306,638	60,772	296,357	663,767
Virginia	9	831,619	1,607,139	-	2,438,758
Washington	5	81,877	327,505	198,220	607,602
Grand Total	416	48,824,577	12,698,752	12,470,688	73,994,014
Total Retail	335	36,544,686	7,413,024	12,470,688	56,428,395
Total Industrial	78	12,119,574	5,285,728	-	17,405,302
Total Other	3	160,317	-	-	160,317
Footnotes for detail property listing
(1)  Denotes partial ownership.  The square feet figures represent WRI's proportionate ownership of the property held by the joint venture or partnership.
(2)  Denotes property currently under development.
(3)  Denotes properties that are not consolidated for SEC reporting purposes.
(+)  Denotes supermarket or discount store offering full service grocery along with general merchandise.
NOTE:  Square feet is reflective of area available to be leased.  Certain listed properties may have additional square feet under WRI ownership.

Page 23

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Retail
Operating Properties
Arizona
Palmilla Center	Dysart Rd. at McDowell Rd., Avondale	Office Max, PetsMart, Dollar Tree, Fry’s Supermarket + (O.B.O.)	100.00%		103,568	0	65,574	169,142
University Plaza	Plaza Way at Milton Rd., Flagstaff	PetsMart, Safeway +, Ross Dress for Less, Bed Bath & Beyond	100.00%		165,621	0	0	165,621
Val Vista Towne Center	Warner at Val Vista Rd., Gilbert	Target (O.B.O.), Staples, Ross Dress for Less, Petco	100.00%		93,372	0	123,000	216,372
Arrowhead Festival S.C.	75th Ave. at W. Bell Rd., Glendale	Borders (O.B.O.), Sports Authority (O.B.O.), Toys “R” Us (O.B.O.), Bed Bath & Beyond (O.B.O.)	100.00%		29,834	0	146,624	176,458
Fry's Ellsworth Plaza	Broadway Rd. at Ellsworth Rd., Mesa	Fry’s Supermarket + (O.B.O.)	100.00%		9,034	0	64,574	73,608
Monte Vista Village Center	Baseline Rd. at  Ellsworth Rd., Mesa	Safeway + (O.B.O.)	100.00%		45,751	0	58,400	104,151
Red Mountain Gateway	Power Rd. at McKellips Rd., Mesa	Target (O.B.O.), Bed Bath & Beyond, Famous Footwear	100.00%		69,568	0	136,000	205,568
Camelback Village Square	Camelback at 7th Avenue, Phoenix	Fry’s Supermarket +, Office Max	100.00%		134,494	0	100,000	234,494
Laveen Village Market	Baseline Rd. at  51st St., Phoenix	Fry’s Supermarket + (O.B.O.)	100.00%		40,025	0	71,619	111,644
Rancho Encanto	35th Avenue at Greenway Rd., Phoenix	Blockbuster, Fresh N Easy +	100.00%		70,909	0	0	70,909
Squaw Peak Plaza	16th Street at Glendale Ave., Phoenix	Basha's +, Blockbuster	100.00%		61,060	0	0	61,060
Fountain Plaza	77th St. at McDowell, Scottsdale	Fry’s Supermarket +, Dollar Tree, Lowes (O.B.O.)	100.00%		102,271	0	165,000	267,271
Scottsdale Horizon	Frank Lloyd Wright Blvd and Thompson Peak	Baja Fresh Mexican GrillParkway, Scottsdale	100.00%		10,337	0	0	10,337
Broadway Marketplace	Broadway at Rural, Tempe	Office Max, Ace Hardware	100.00%		82,757	0	0	82,757
Basha's Valley Plaza	S. McClintock at E. Southern, Tempe	Basha’s +	100.00%		145,104	0	0	145,104
Pueblo Anozira	McClintock Dr. at Guadalupe Rd., Tempe	Fry’s Food & Drug +, Petco, Dollar Tree	100.00%		157,309	0	0	157,309
Entrada de Oro	Magee Road and Oracle Road, Tucson	Wal-Mart	100.00%		88,685	0	20,406	109,091
Madera Village	Tanque Verde Rd. and Catalina Hwy, Tucson	Safeway +, Walgreen's, Ace Hardware	100.00%		96,732	0	10,594	107,326
Oracle Crossings	Oracle Highway and Magee Road, Tucson	Kohl's, Sprouts Farmers Market +, Peter Piper Pizza	100.00%		243,625	0	10,000	253,625
Oracle Wetmore	Wetmore Road and Oracle Highway, Tucson	Home Depot , Circuit City, PetSmart, Walgreens	100.00%		256,093	0	0	256,093
Shoppes at Bears Path	Tanque Verde Rd. and Bear Canyon Rd., Tucson	Osco Drug (O.B.O.), Carondelet Health Care Corp., Leslie Pools	100.00%		43,928	0	21,851	65,779
Arizona Total:	# of Properties:  21				2,050,077		993,642	3,043,719
Arkansas
Markham Square	W. Markham at John Barrow, Little Rock	Burlington Coat Factory	100.00%		126,904	0	0	126,904
Markham West	11400 W. Markham, Little Rock	Office Depot, Michael’s, Academy, Bassett Furniture, Dollar Tree	100.00%		178,210	0	0	178,210
Westgate	Cantrell at Bryant, Little Rock	SteinMart	100.00%		52,626	0	0	52,626
Arkansas Total:	# of Properties:  3				357,740		0	357,740
California
Centerwood Plaza	Lakewood Blvd. at Alondra Dr., Bellflower	Bestway Supermarket +, Hollywood Video	100.00%		75,500	0	0	75,500
Southampton Center	IH-780 at Southampton Rd., Benecia	Raley’s +, Hollywood Video	100.00%		162,390	0	0	162,390
580 Market Place	E. Castro Valley at Hwy. I-580, Castro Valley	P. W. Supermarkets +, Petco	100.00%		100,165	0	0	100,165
Chino Hills Marketplace	Chino Hills Pkwy. at Pipeline Ave., Chino Hills	Rite Aid, Von’s +, 24 Hour Fitness, Dollar Tree	100.00%		309,098	0	0	309,098
Buena Vista Marketplace	Huntington Dr. at Buena Vista St., Duarte	Ralph's +	100.00%		90,805	0	0	90,805
El Camino Promenade	El Camino Real at Via Molena, Encinitas	T.J. Maxx,  Beverages & More, Staples	100.00%		130,856	0	0	130,856
Fremont Gateway Plaza	Paseo Padre Pkwy. at Walnut Ave., Fremont	Raley’s +, NAZ Cinema, 24 Hour Fitness	100.00%		194,601	0	0	194,601
Hallmark Town Center	W. Cleveland Ave. at Stephanie Ln., Madera	Food 4 Less + , Bally’s	100.00%		85,066	0	0	85,066
Menifee Town Center	Antelope Rd. at Newport Rd., Menifee	Ralph's +, Target (O.B.O.), Ross Dress for Less	100.00%		124,494	0	124,000	248,494
Marshalls Plaza	McHenry at Sylvan Ave., Modesto	Marshall’s, Dress Barn, Guitar Center	100.00%		78,752	0	0	78,752
Prospectors Plaza	Missouri Flat Rd. at US Hwy. 50, Placerville	SaveMart +, Kmart, Long’s Drug Store	100.00%		228,345	0	0	228,345
Shasta Crossroads	Churn Creek Rd. at Dana Dr., Redding	Food Maxx +, Target (O.B.O.), Sports Authority (O.B.O.), Ashley Furniture (O.B.O.)	100.00%		121,334	0	131,468	252,802
Arcade Square	Watt Ave. at Whitney Ave., Sacramento	Grocery Outlet +	100.00%		76,497	0	0	76,497
Discovery Plaza	W. El Camino Ave. at Truxel Rd., Sacramento	Bel Air Market +, Blockbuster	100.00%		93,398	0	0	93,398

Page 24

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Summerhill Plaza	Antelope Rd. at Lichen Dr., Sacramento	Raley’s +	100.00%		133,614	0	0	133,614
Valley	Franklin Boulevard and Mack Road, Sacramento	Raley's +	100.00%		98,240	0	5,365	103,605
Silver Creek Plaza	E. Capital Expressway at Silver Creek Blvd., San Jose	Safeway +, Walgreen’s, Orchard Supply (O.B.O.)	100.00%		134,179	0	65,000	199,179
Tully Corners Shopping Center	Tully Rd at Quimby Rd, San Jose	Food Maxx +, Petco, Party City	10.00%	(1)(3)	11,599	104,393	0	115,992
Greenhouse Marketplace	Lewelling Blvd. at Washington Ave., San Leandro	Safeway + (O.B.O.), Longs Drug Stores (O.B.O.), Big Lots, 99 Cents Only, Factory 2 U	100.00%		152,095	0	86,569	238,664
Rancho San Marcos Village	San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos	Von’s + , 24 Hour Fitness	100.00%		120,829	0	0	120,829
San Marcos Plaza	San Marcos Blvd. at Rancho Santa Fe Rd., San Marcos	Albertsons + (O.B.O.)	100.00%		35,880	0	45,206	81,086
Stony Point Plaza	Stony Point Rd. at Hwy. 12, Santa Rosa	Food Maxx +, Wal-Mart	100.00%		198,528	0	0	198,528
Sunset Center	Sunset Ave. at State Hwy. 12, Suisun City	Albertsons +, Rite Aid	100.00%		85,238	0	0	85,238
Creekside Center	Alamo Dr. at Nut Creek Rd., Vacaville	Raley’s +, Blockbuster	100.00%		116,229	0	0	116,229
Freedom Centre	Freedom Blvd. At Airport Blvd., Watsonville	Rite Aid, Big Lots, Safeway +	100.00%		150,241	0	0	150,241
Westminster Center	Westminster Blvd. at Golden West St., Westminster	Albertsons +, Home Depot, Edward’s Cinema, Rite Aid, Petco	100.00%		417,870	0	0	417,870
California Total:	# of Properties:  26				3,525,843	104,393	457,608	4,087,844
Colorado
Aurora City Place	E. Alameda at I225, Aurora	PetsMart, Sportsman Warehouse, Linens ‘N Things, Barnes & Noble, Ross Dress For Less, Super Target + (O.B.O.), Pier 1 Imports	50.00%	(1)(3)	182,642	182,642	182,000	547,283
Academy Place	Academy Blvd. at Union Blvd., Colorado Springs	Safeway + (O.B.O.), Ross Dress For Less, Target (O.B.O.)	100.00%		84,057	0	177,362	261,419
Uintah Gardens	NEC 19th St. at West Uintah, Colorado Springs	King Sooper’s +, Walgreens, Petco, Big 5 Sporting Goods	100.00%		212,638	0	0	212,638
Green Valley Ranch Towne Center	Tower Rd. at 48th Ave., Denver	King Sooper’s + (O.B.O.)	50.00%	(1)(3)	27,503	27,503	58,000	113,006
Lowry Town Center	2nd Ave. at Lowry Ave., Denver	Super Target + (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1 Imports, Cost Plus, Linens ‘N Things	50.00%	(1)(3)	38,370	38,370	52,700	129,439
CityCenter Englewood	S. Santa Fe at Hampden Ave., Englewood	Wal-Mart (O.B.O.), Ross Dress for Less, Gart Sports, Office Depot, Bally Total Fitness, Petco	51.00%	(1)	137,977	132,566	90,000	360,543
Glenwood Meadows	Midland Ave. at W. Meadows, Glenwood Springs	Target (O.B.O.), Pier 1 Imports, The Sports Authority, Bed Bath & Beyond, Petco, Lowe's	41.00%	(1)(3)	110,940	159,646	125,174	395,760
Crossing at Stonegate	Jordon Rd. at Lincoln Ave., Parker	King Sooper’s +	51.00%	(1)	55,620	53,438	0	109,058
Thorncreek Crossing	Washington St. at 120th St., Thornton	Super Target + (O.B.O.), Barnes & Noble, Office Max, Michael’s, Pier 1 Imports, Cost Plus, Linens ‘N Things	51.00%	(1)	108,186	103,944	174,000	386,130
Westminster Plaza	North Federal Blvd. at 72nd Ave., Westminster	Safeway + Walgreen (O.B.O.)	50.00%	(1)	48,521	48,521	56,127	153,169
Colorado Total:	# of Properties:  10				1,006,454	746,630	915,363	2,668,445
Florida
Boca Lyons	Glades Rd. at Lyons Rd., Boca Raton	Ross Dress for Less, Ethan Allen	100.00%		113,689	0	0	113,689
Countryside Centre	US Highway 19 at Countryside Boulevard	Albertsons+, T.J. Maxx, Home Goods	100.00%		242,123	0	0	242,123
Sunset 19	US Hwy. 19 at Sunset Pointe Rd., Clearwater	Publix +, Bed Bath & Beyond, Staples, Comp USA, Barnes & Noble, Sports Authority, Old Navy	100.00%		275,910	0	0	275,910
Embassy Lakes	Sheraton St. at Hiatus Rd., Cooper City	Winn Dixie +, Walgreen’s, Tuesday Morning	100.00%		131,723	0	48,214	179,937
Paradise Key at Kelly Plantation	US Highway 98 and Mid Bay Bridge Rd, Destin	Publix +, Ross Dress for Less, Stein Mart, Bed Bath & Beyond, Old Navy	10.00%	(1)(3)	27,178	244,599	0	271,777
Shoppes at Paradise Isle	34940 Emerald Coast Pkwy, Destin	Best Buy, Linens N' Things, Michaels, Office Depot, PetsMart	25.00%	(1)(3)	42,959	128,878	0	171,837
Hollywood Hills Plaza	Hollywood Blvd. at North Park Rd., Hollywood	Publix +, Target, CVS/pharmacy	100.00%		364,714	0	0	364,714
Indian Harbour Place	East Eau Gallie Boulevard, Indian Harbour Beach	Beall's, Publix +	25.00%	(1)(3)	40,880	122,641	0	163,521
Argyle Village	Blanding at Argyle Forest Blvd., Jacksonville	Bed Bath & Beyond, Publix +, T.J. Maxx, Babies “R” Us, Jo-Ann’s Fabrics, Michael's	100.00%		312,447	0	0	312,447
TJ Maxx Plaza	117th Avenue at Sunset Blvd., Kendall	T.J. Maxx, Winn Dixie +	100.00%		161,871	0	0	161,871
Largo Mall	Ulmerton Rd. at Seminole Ave., Largo	Beall’s Department Stores, Marshall’s, PetsMart, Bed Bath & Beyond,  Staples, Michael’s, Target (O.B.O.), Albertsons + (O.B.O.)	100.00%		377,757	0	197,631	575,388

Page 25

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Palm Lakes Plaza	Atlantic Boulevard and Rock Island Road, Maragate	Publix +, CVS/pharmacy	20.00%	(1)(3)	23,280	93,122	0	116,402
Lake Washington Crossing	Wickham Rd. at Lake Washington Rd., Melbourne	Publix +, Beall’s Outlet Stores	25.00%	(1)(3)	29,707	89,121	0	118,828
Lake Washington Square	Wickham Rd. at Lake Washington Rd., Melbourne	Albertsons +, Tuesday Morning	100.00%		111,811	0	0	111,811
Kendall Corners	Kendall Drive and SW 127th Avenue, Miami	City Furniture	20.00%	(1)(3)	19,303	77,212	0	96,515
South Dade	South Dixie Highway and Eureka Drive, Miami	Publix +, Petco, Chuck E. Cheese, Bed Bath & Beyond	20.00%	(1)(3)	43,882	175,530	0	219,412
Tamiami Trail Shops	S.W. 8th St. at S.W. 137th Ave., Miami	Publix +, CVS/pharmacy	100.00%		110,867	0	0	110,867
Northridge	E. Commercial Blvd. at Dixie Hwy., Oakland Park	Publix +, Petco, Ross Dress for Less, Anna's Linen	100.00%		236,170	0	0	236,170
Colonial Plaza	E. Colonial Dr. at Primrose Dr., Orlando	Staples, Circuit City, Ross Dress for Less, Linens ‘N Things, Babies “R” Us, Marshall’s, Old Navy, SteinMart, Barnes & Noble, Petco	100.00%		496,628	0	0	496,628
International Drive Value Center	International Drive and Touchstone Drive, Orlando	Bed Bath & Beyond, Ross, T.J. Maxx	20.00%	(1)(3)	37,133	148,531	0	185,664
Market at Southside	Michigan Ave. at Delaney Ave., Orlando	Ross Dress for Less, Beall’s Outlet Stores, Dollar Tree, Albertsons + (O.B.O.)	100.00%		95,208	0	64,627	159,835
The Marketplace at Dr. Phillips	Dr. Phillips Boulevard and Sand Lake Road, Orlando	Albertsons +, Stein Mart, Office Depot, Home Goods, Morton's of Chicago	20.00%	(1)(3)	65,250	261,000	0	326,250
The Shoppes at South Semoran	Semoran Blvd. at Pershing Ave.	Save Rite +	100.00%		101,535	0	0	101,535
Westland Terrace Plaza	SR 50 at Apopka Vineland Rd., Orlando	T.J. Maxx, Petco, Shoe Carnival, Super Target + (O.B.O.)	100.00%		77,521	0	183,000	260,521
Alafaya Square	Alafaya Trail, Oviedo	Publix +	20.00%	(1)(3)	35,297	141,189	0	176,486
University Palms	Alafaya Trail at McCullough Rd., Oviedo	Publix +, Blockbuster	100.00%		99,172	0	0	99,172
East Lake Woodlands	East Lake Road and Tampa Road, Palm Harbor	Publix +, Walgreens	20.00%	(1)(3)	28,021	112,082	0	140,103
Shoppes at Parkland	Hillsboro Boulevard at State Road #7, Parkland	BJ's Wholesale Club +	100.00%		145,652	0	0	145,652
Flamingo Pines	Pines Blvd. at Flamingo Rd., Pembroke Pines	Publix +, U.S. Post Office, Keiser College, Home Depot (O.B.O.)	100.00%		262,761	0	105,350	368,111
Pembroke Commons	University at Pines Blvd., Pembroke Pines	Publix +, Marshall’s, Office Depot, LA Fitness	100.00%		314,417	0	0	314,417
Publix at Laguna Isles	Sheridan St. at SW 196th Ave., Pembroke Pines	Publix +	100.00%		69,475	0	0	69,475
Vizcaya Square	Nob Hill Rd. at Cleary Blvd., Plantation	Winn Dixie +, Blockbuster	100.00%		112,410	0	0	112,410
Quesada Commons	Quesada Avenue and Toledo Blade Boulevard, Port Charlotte	Publix +	25.00%	(1)(3)	14,722	44,168	0	58,890
Shoppes of Port Charlotte	Toledo Blade Boulevard and Tamiami Trail, Port Charlotte	Petco	25.00%	(1)(3)	10,253	30,758	0	41,011
Shoppes of Port Charlotte	Toledo Blade Boulevard and Tamiami Trail, Port Charlotte	Chick-Fil-A	25.00%	(1)(3)	978	2,934	0	3,912
Marketplace at Seminole Towne Center	Central Florida Greenway and Rinehart Road, Sanford	Circuit City, Sports Authority, DSW, Marshalls, Old Navy, Linens 'N Things, Petco, Cost Plus, Super Target + (O.B.O.)	100.00%		308,761	0	185,000	493,761
Pineapple Commons	Us Highway 1 and Britt Rd.	Best Buy, Ross, Linens 'N Things, PetsMart, Ashley Furniture	20.00%	(1)(3)	49,803	199,211	0	249,014
Sunrise West Shopping Center	West Commercial Drive and NW 91st Avenue, Sunrise	Publix +	25.00%	(1)(3)	19,080	57,241	0	76,321
Venice Pines	Center Rd. at Jacaranda Blvd., Venice	Sweet Bay +	100.00%		97,303	0	0	97,303
Winter Park Corners	Aloma Ave. at Lakemont Ave., Winter Park	Whole Foods Market +, Outback Steakhouse	100.00%		102,397	0	0	102,397
Florida Total:	# of Properties:  39				5,210,048	1,928,217	783,822	7,922,087
Georgia
Lakeside Marketplace	Cobb Parkway (US Hwy 41), Acworth	Ross Dress for Less, Circuit City, Petco, Office Max, Books A Million, Super Target + (O.B.O.)	100.00%		147,688	0	174,000	321,688
Mansell Crossing	North Point Parkway at Mansell Rd	Ross, Bed Bath & Beyond, Rooms to Go	20.00%	(1)(3)	20,586	82,345	0	102,931
Camp Creek Marketplace II	Camp Creek Parkway and Carmla Drive, Atlanta	DSW, American Signature, Circuit City, LA Fitness	100.00%		196,283	0	0	196,283
Cherokee Plaza	Peachtree Road and Colonial Drive, Atlanta	Kroger +	100.00%		98,553	0	0	98,553
Perimeter Village	Ashford-Dunwoody Rd	Wal-Mart Supercenter +, Cost Plus, DSW, Borders	100.00%		387,755	0	0	387,755
Publix at Princeton Lakes	Carmia Drive and Camp Creek Drive, Atlanta	Publix+	100.00%		68,389	0	0	68,389
Brookwood Square	East-West Connector at Austell Rd., Austell	Marshall’s, Staples, Home Depot	100.00%		253,448	0	0	253,448
Dallas Commons	US Highway 278 and Nathan Dean Boulevard, Dallas	Kroger + (O.B.O.)	100.00%		25,158	0	70,104	95,262

Page 26

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Reynolds Crossing	Steve Reynolds and Old North Cross Rd., Duluth	Kroger + (O.B.O.)	100.00%		45,758	0	70,225	115,983
Thompson Bridge Commons	Thompson Bridge Rd. at Mt. Vernon Rd., Gainesville	Kroger +	100.00%		78,351	0	0	78,351
Grayson Commons	Grayson Hwy at Rosebud Rd., Grayson	Kroger +	100.00%		76,611	0	0	76,611
Sandy Plains Exchange	Sandy Plains at Scufflegrit, Marietta	Publix +	100.00%		72,784	0	0	72,784
Brownsville Commons	Brownsville Road and Hiram-Lithia Springs Road, Powder Springs	Kroger + (O.B.O.)	100.00%		27,747	0	54,139	81,886
Roswell Corners	Woodstock Rd. at Hardscrabble Rd., Roswell	Staples, T.J. Maxx, Super Target + (O.B.O.)	100.00%		144,964	0	173,535	318,499
Brookwood Marketplace	Peachtree Parkway at Mathis Airport Rd., Suwannee	Office Max, Home Depot, Bed Bath & Beyond, Super Target + (O.B.O.)	100.00%		193,170	0	174,000	367,170
Georgia Total:	# of Properties:  15				1,837,245	82,345	716,003	2,635,593
Illinois
Burbank Station	S. Cicero Ave. at W. 78th St.	Babies "R" Us, Food For Less +, Office Max, Petsmart, Sports Authority	100.00%		303,566	0	0	303,566
Illinois Total:	# of Properties:  1				303,566	0	0	303,566
Kansas
Shawnee Village	Shawnee Mission Pkwy. at Quivera Rd., Shawnee	Burlington Coat Factory	100.00%		135,139	0	0	135,139
Kohl's	Wanamaker Rd. at S.W. 17th St., Topeka	Barnes & Noble, Kohl’s Department Store	100.00%		115,716	0	0	115,716
Kansas Total:	# of Properties:  2				250,855	0	0	250,855
Kentucky
Millpond Center	Boston at Man O’War, Lexington	Kroger +	100.00%		124,567	0	27,000	151,567
Regency Shopping Centre	Nicholasville Rd.& West Lowry Lane, Lexington	Kroger + (O.B.O.), T.J. Maxx, Michaels	100.00%		124,486	0	46,044	170,530
Tates Creek	Tates Creek at Man O’ War, Lexington	Kroger +, Rite Aid	100.00%		179,450	0	0	179,450
Festival at Jefferson Court	Outer Loop at Jefferson Blvd., Louisville	Kroger +, PetsMart (O.B.O.), Factory Card Outlet, AJ Wright (O.B.O.)	100.00%		168,986	0	49,410	218,396
Kentucky Total:	# of Properties:  4				597,489	0	122,454	719,943
Louisiana
Seigen Plaza	Siegen Lane at Honore Lane, Baton Rouge	Super Target + (O.B.O.), Ross Dress for Less, Conn’s, Petco	100.00%		155,490	0	194,247	349,737
Park Terrace	U.S. Hwy. 171 at Parish, DeRidder	Stage, JC Penney, Burke's Oulet (O.B.O.)	100.00%		131,127	0	22,332	153,459
Town & Country Plaza	U.S. Hwy. 190 West, Hammond	Winn Dixie +, Office Depot, CVS/pharmacy, Goody’s, Books a Million	100.00%		226,102	0	0	226,102
Manhattan Place	Manhattan Blvd. at Gretna Blvd., Harvey	Target (O.B.O.), Ross Dress for Less, Stage, K&G Fashion	100.00%		138,215	0	125,400	263,615
Ambassador Plaza	Ambassador Caffery at W. Congress, Lafayette	Albertsons + (O.B.O.), Blockbuster (O.B.O.)	100.00%		0	0	101,950	101,950
River Marketplace	Ambassador Caffery at Kaliste Saloom, Lafayette	Ross Dress for Less, Stage, Cost Plus, Super Target + (O.B.O.), Books A Million	7.80%	(1)(3)	13,142	147,100	174,700	334,942
Westwood Village	W. Congress at Bertrand, Lafayette	Stage, Graham Central Station	100.00%		141,346	0	0	141,346
14/Park Plaza	Hwy. 14 at General Doolittle, Lake Charles	Kroger +, Conn’s, Burke's Outlet, Anna's Linens, Family Dollar	100.00%		172,068	0	0	172,068
Conn's Building	Ryan at 17th St., Lake Charles	Planet Pets	100.00%		23,201	0	0	23,201
K-Mart Plaza	Ryan St., Lake Charles	Albertsons +, Kmart, Stages	50.00%	(1)(3)	107,974	107,974	0	215,948
Prien Lake Plaza	Prien Lake Rd. at Nelson Rd., Lake Charles	Target (O.B.O.), Marshall’s (O.B.O), Ross Dress for Less (O.B.O.), Bed Bath & Beyond (O.B.O)	100.00%		7,743	0	205,375	213,118
Southgate	Ryan at Eddy, Lake Charles	Market Basket +, Office Depot, Books A Million	100.00%		170,588	0	0	170,588
Danville Plaza	Louisville at 19th, Monroe	County Market +, Citi Trends, Surplus Warehouse	100.00%		141,380	0	0	141,380
Orleans Station	Paris, Robert E. Lee at Chatham, New Orleans	Vacant	100.00%		0	0	0	0
University Place	70th St. at Youree Dr., Shreveport	Super Target + (O.B.O.), Best Buy, T.J. Maxx, CVS/pharmacy, Bed Bath & Beyond	20.40%	(1)(3)	46,237	180,417	174,500	401,154
Louisiana Total:	# of Properties:  15				1,474,613	435,491	998,504	2,908,608
Maine
The Promenade	Essex at Summit, Lewiston	Staples, Flagship Cinemas	75.00%	(1)	153,776	51,258	0	205,034
Maine Total:	# of Properties:  1				153,776	51,258	0	205,034

Page 27

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Missouri
Ballwin Plaza	Manchester Rd. at Vlasis Dr., Ballwin	Schnucks +, Michael’s, Sears	100.00%		200,915	0	0	200,915
Western Plaza	Hwy 141 at Hwy 30, Fenton	Vacant	50.00%	(1)(3)	28,267	28,267	0	56,534
Missouri Total:	# of Properties:  2				229,182	28,267	0	257,449
Nevada
Eastern Horizon	Eastern Ave. at  Horizon Ridge Pkwy., Henderson	Kmart + (O.B.O.)	100.00%		66,408	0	143,879	210,287
Best in the West	Rainbow at Lake Mead Rd., Las Vegas	Best Buy, Borders, Bed Bath & Beyond, Babies "R" Us, DSW Shoes, Office Depot, Old Navy, PetsMart, Jo-Ann Stores, The Sports Authority	100.00%		436,814	0	0	436,814
Charleston Commons	Charleston and Nellis, Las Vegas	Wal-Mart, Ross, Office Max, 99 Cents Only, PetsMart	100.00%		338,378	0	0	338,378
College Park S.C.	E. Lake Mead Blvd. at Civic Ctr. Dr., North Las Vegas	Albertsons +, Sav-On Drug, Anna's Linens	100.00%		167,654	0	0	167,654
Francisco Centre	E. Desert Inn Rd. at S. Eastern Ave., Las Vegas	Ross Dress for Less (O.B.O.), Fallas Paredes , La Bonita Grocery	100.00%		116,973	0	31,842	148,815
Mission Center	Flamingo Rd. at Maryland Pkwy, Las Vegas	Sav-On Drug (O.B.O.), Albertsons + (O.B.O.), Toys “R” Us, T.J. Maxx	100.00%		152,475	0	55,745	208,220
Paradise Marketplace	Flamingo Rd. at Sandhill, Las Vegas	Smith’s Food +, Dollar Tree	100.00%		148,713	0	0	148,713
Rainbow Plaza	Rainbow Blvd. at Charleston Blvd., Las Vegas	Albertsons +, JC Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness	100.00%		278,416	0	0	278,416
Rainbow Plaza, Phase I	Rainbow Blvd. at Charleston Blvd., Las Vegas	Albertsons +, J.C. Penney, Ultimate Electronics, Home Depot, 24 Hour Fitness	100.00%		136,369	0	0	136,369
Rancho Towne & Country	Rainbow Blvd. at Charleston Blvd., Las Vegas	Smith’s Food +	100.00%		87,367	0	0	87,367
Tropicana Beltway	Tropicana Beltway at Fort Apache Rd., Las Vegas	Lowe’s (O.B.O.), Wal-Mart Supercenter + (O.B.O.), PetsMart, Office Depot, Ross Dress for Less, 99 Cent Only, Sports Authority, Pier 1 Imports	100.00%		246,478	0	394,271	640,749
Tropicana Marketplace	Tropicana at Jones Blvd., Las Vegas	Smith’s Food +, Family Dollar	100.00%		142,728	0	0	142,728
Westland Fair North	Charleston Blvd. At Decatur Blvd., Las Vegas	Wal-Mart Supercenter +, Lowe’s, PetsMart, Office Depot, Michaels	100.00%		576,202	0	0	576,202
Nevada Total:	# of Properties:  12				2,894,975	0	625,737	3,520,712
New Mexico
Eastdale	Candelaria Rd. at Eubank Blvd., Albuquerque	Albertsons +, Family Dollar	100.00%		117,623	0	0	117,623
North Towne Plaza	Academy Rd. at Wyoming Blvd., Albuquerque	Whole Foods Market +, Borders	100.00%		104,034	0	0	104,034
Pavillions at San Mateo	I-40 at San Mateo, Albuquerque	Old Navy, Shoe Department, Circuit City, Linens ‘N Things	100.00%		195,944	0	0	195,944
Plaza at Cottonwood	Coors Bypass Blvd. at Seven Bar Loop Rd., Albuquerque	Staples, PetsMart, Wal-Mart Supercenter +(O.B.O.), Home Depot (O.B.O.)	100.00%		84,322	0	334,000	418,322
Wyoming Mall	Academy Rd. at Northeastern, Albuquerque	Wal-Mart Supercenter +	100.00%		267,886	0	0	267,886
De Vargas	N. Guadalupe at Paseo de Peralta, Santa Fe	Albertsons + (O.B.O.), Osco Drugs, Ross Dress for Less, Office Depot, Hastings, United Artists	100.00%		249,671	0	62,750	312,421
New Mexico Total:	# of Properties:  6				1,019,480	0	396,750	1,416,230
North Carolina
Capital Square	Capital Blvd. at Huntleigh Dr., Cary	Food Lion +	100.00%		143,063	0	0	143,063
Harrison Pointe	Harrison Ave. at Maynard Rd., Cary	Harris Teeter +, Staples	100.00%		130,934	0	0	130,934
High House Crossing	NC Hwy 55 at Green Level W. Rd., Cary	Harris Teeter +	100.00%		89,997	0	0	89,997
Northwoods Market	Maynard Rd. at Harrison Ave., Cary	Food Lion +	100.00%		77,802	0	0	77,802
Parkway Pointe	Cory Parkway at S. R. 1011, Cary	Food Lion +, Rite-Aid	100.00%		80,061	0	0	80,061
Chatham Crossing	US 15/501 at Plaza Dr., Chapel Hill	Lowes Food +, CVS/pharmacy	25.00%	(1)(3)	24,039	72,116	0	96,155
Cole Park Plaza	US 15/501 and Plaza Dr., Chapel Hill	Dollar General	25.00%	(1)(3)	20,564	61,694	0	82,258
Galleria	Galleria Boulevard and Sardis Road, Charlotte	Off Broadway Shoes, Wal-Mart (O.B.O.)	100.00%		120,542	0	207,602	328,144
Johnston Road Plaza	Johnston Rd. at McMullen Creek Pkwy., Charlotte	Food Lion+	100.00%		79,508	0	0	79,508
Steele Creek Crossing	York Rd. at Steele Creek Rd., Charlotte	BI-LO +, Rite-Aid	100.00%		77,301	0	0	77,301
Whitehall Commons	NWC of Hwy. 49 at I-485, Charlotte	Blockbuster, Wal-Mart Supercenter + (O.B.O.), Lowes (O.B.O.), BI-LO + (O.B.O.)	100.00%		41,976	0	402,620	444,596
Bull City Market	Broad St. at West Main St., Durham	Whole Foods Market +	100.00%		42,517	0	0	42,517
Durham Festival	Hillsborough Rd. at LaSalle St., Durham	Kroger +, Dollar General	100.00%		134,295	0	0	134,295

Page 28

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Mineral Springs Village	Mineral Springs Rd. at Wake Forest Rd., Durham	Food Lion +, Rite-Aid	100.00%		59,859	0	0	59,859
Ravenstone Commons	Hwy 98 at Sherron Rd., Durham	Food Lion +, Blockbuster	100.00%		60,424	0	0	60,424
Pinecrest Plaza	Hwy. 15-501 at Morganton Rd., Pinehurst	Food Lion +, Michael’s, Goody’s, Belk’s	100.00%		250,140	0	0	250,140
Avent Ferry	Avent Ferry Rd. at Gorman St., Raleigh	Food Lion +, Family Dollar	100.00%		111,650	0	0	111,650
Falls Pointe	Neuce Rd. at Durant Rd., Raleigh	Harris Teeter +, Kohl’s (O.B.O.)	100.00%		106,981	0	86,350	193,331
Leesville Town Centre	Leesville Rd. at Leesville Church Rd., Raleigh	Harris Teeter +, Rite-Aid	100.00%		112,576	0	0	112,576
Little Brier Creek	Little Brier Creek Lane and Brier Leaf Lane, Raliegh	Lowe's Food + (O.B.O.)	100.00%		17,209	0	45,802	63,011
Lynnwood Collection	Creedmoor Rd at Lynn Road, Raleigh	Kroger  +	100.00%		86,362	0	0	86,362
Six Forks Station	Six Forks Rd. at Strickland Rd., Raleigh	Kmart, Home Depot, Food Lion +, Bed Bath & Beyond, Borders	100.00%		473,806	0	0	473,806
Stonehenge Market	Creedmoor Rd. at Bridgeport Dr., Raleigh	Harris Teeter +, SteinMart, Eckerd’s	100.00%		188,521	0	0	188,521
Heritage Station	Forestville Rd. at Rogers Rd., Wake Forest	Harris Teeter +	100.00%		68,778	0	0	68,778
Shoppes at Caveness Farms	U.S. Highway 1 at Caveness Farms Rd., Wake Forest		100.00%		18,955	0	0	18,955
North Carolina Total:	# of Properties:  24				2,617,860	133,810	742,374	3,494,044
Oklahoma
Market Boulevard	E. Reno Ave. at N. Douglas Ave., Midwest City	Color Tyme	100.00%		35,765	0	0	35,765
Town and Country	Reno Ave at North Air Depot, Midwest City	Office Depot, Big Lots, Westlake Hardware, Sights & Sound	100.00%		135,892	0	0	135,892
Oklahoma Total:	# of Properties:  2				171,657	0	0	171,657
Oregon
Clackamas Square	SE 82nd Avenue and SE Causey Avenue, Portland	T.J. Maxx, Winco Foods + (O.B.O.)	20.00%	(1)(3)	14,828	59,311	62,600	136,739
Oak Grove Market Center	SE Mcloughlin Blvd & Oak Grove Ave	Safeway +	100.00%		97,207	0	0	97,207
Raleigh Hills Plaza	SW Beaverton-Hillsdale Hwy and SW Scholls Ferry Road, Portland	Walgreens, New Seasons Market +	20.00%	(1)(3)	7,904	31,616	0	39,520
Oregon Total:	# of Properties:  3				119,939	90,927	62,600	273,466
South Carolina
Fresh Market Shoppes	890 William Hilton Head Pkwy, Hilton Head	The Fresh Market +	25.00%	(1)(3)	21,530	64,590	0	86,120
South Carolina Total:	# of Properties:  1				21,530	64,590	0	86,120
Tennessee
Bartlett Towne Center	Bartlett Blvd. at Stage Rd., Bartlett	Kroger +, Petco,  Dollar Tree, Shoe Carnival	100.00%		179,364	0	0	179,364
Commons at Dexter Lake	Dexter at N. Germantown, Memphis	Kroger +, SteinMart, Marshall’s, Samuel's Furniture and Interior	100.00%		166,958	0	0	166,958
Commons at Dexter Lake Phase II	Dexter at N. Germantown, Memphis	Kroger +, SteinMart, Marshall’s, Samuel's Furniture and Interior	100.00%		61,538	0	0	61,538
Highland Square	Summer at Highland, Memphis	Walgreen’s	100.00%		14,490	0	0	14,490
Mendenhall Commons	South Mendenahall Rd. and Sanderlin Avenue, Memphis	Kroger +	100.00%		80,206	0	0	80,206
Summer Center	Summer Ave. at Waring Rd., Memphis	Kroger +, Ross Dress for Less	100.00%		148,708	0	0	148,708
Tennessee Total:	# of Properties:  5				651,264	0	0	651,264
Texas
Bell Plaza	45th Ave. at Bell St., Amarillo	United Supermarket +, Dollar Tree	15.00%	(1)	19,579	110,950	0	130,529
Coronado	34th St. at Wimberly Dr., Amarillo	Blockbuster	100.00%		46,829	0	0	46,829
Wolflin Village	Wolflin Ave. at Georgia St., Amarillo	Office Depot, Sheplers Western Wear #30, Talbots	100.00%		153,084	0	0	153,084
Brodie Oaks	South Lamar Blvd. at Loop 360, Austin	Hobby Lobby (O.B.O.), Toys "R" Us (O.B.O.), Sun Harvest Farm, Neiman Marcus Last Call	100.00%		226,910	0	109,032	335,942
Calder	Calder at 24th St., Beaumont	Harmony Science Academy	100.00%		34,641	0	0	34,641
North Park Plaza	Eastex Fwy. at Dowlen, Beaumont	Target (O.B.O.), Anna’s Linens, David’s Bridal, Toys “R” Us (O.B.O.)	50.00%	(1)(3)	70,036	70,036	141,329	281,401
Phelan	Phelan at 23rd St, Beaumont	Kroger + (O.B.O.)	100.00%		12,000	0	0	12,000
Phelan West	Phelan at 23rd St., Beaumont	Kroger + (O.B.O.)	66.70%	(1)(3)	15,552	7,779	58,890	82,221

Page 29

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Southgate	Calder Ave. at 6th St., Beaumont	Control Fluids	100.00%		33,555	0	0	33,555
Westmont	Dowlen at Phelan, Beaumont	Talbot’s, Blockbuster	100.00%		98,071	0	0	98,071
Lone Star Pavilions	Texas at Lincoln Ave., College Station	Best Buy, Office Depot, Barnes & Noble	100.00%		106,907	0	0	106,907
Montgomery Plaza	Loop 336 West at I-45, Conroe	Academy, Conn’s, Goody’s, 99 Cents Only, Petco, Anna's Linens, Spec's	100.00%		296,837	0	0	296,837
River Pointe	I-45 at Loop 336, Conroe	Kroger + (O.B.O), Incredible Pizza (O.B.O.)	100.00%		44,792	0	144,911	189,703
Moore Plaza	S. Padre Island Dr. at Staples, Corpus Christi	Office Depot, Marshall’s, H. E. B. + (O.B.O), Target (O.B.O.), Circuit City, Old Navy, Linen’s N Things, Hobby Lobby	100.00%		371,668	0	161,909	533,577
Portairs	Ayers St. at Horne Rd., Corpus Christi	CVS/pharmacy, Family Dollar, Beall’s	100.00%		118,233	0	0	118,233
Overton Park Plaza	SW Loop 820/Interstate 20 at South Hulen St., Ft. Worth	Sports Authority, Circuit City, PetsMart, Office Depot, T.J. Maxx, Albertsons +, Home Depot (O.B.O.), Anna’s Linens	100.00%		353,302	0	110,000	463,302
Southcliff	I-20 at Grandbury Rd., Ft. Worth	Jo-Ann’s Fabrics	100.00%		115,827	0	0	115,827
Broadway	Broadway at 59th St., Galveston	Big Lots, Family Dollar	15.00%	(1)	11,172	63,305	0	74,477
Food King Place	25th St. at Avenue P, Galveston	Arlan’s +	100.00%		28,062	0	0	28,062
Galveston Place	Central City Blvd. at 61st St., Galveston	Randall’s +, Office Depot, Spec's Liquor, Palais Royal	100.00%		210,187	0	0	210,187
10/Federal	I-10 at Federal	Citi Trends, Palais Royal, Seller Bros. +	15.00%	(1)	19,871	112,601	0	132,472
Alabama-Shepherd	S. Shepherd at W. Alabama	Bookstop, PetsMart	100.00%		56,110	0	0	56,110
Bayshore Plaza	Spencer Hwy. at Burke Rd.	Fitness Connections (O.B.O.)	100.00%		35,966	0	86,000	121,966
Bellaire Boulevard	Bellaire at S. Rice	Randall’s +	100.00%		35,081	0	0	35,081
Braeswood Square	N. Braeswood at Chimney Rock	Belden’s +, Walgreen’s	100.00%		103,336	0	0	103,336
Centre at Post Oak	Westheimer at Post Oak Blvd.	Marshall’s, Barnes & Noble, Old Navy, Grand Lux Café, Comp USA	100.00%		182,070	0	0	182,070
Champions Village	F.M. 1960 at Champions Forest Dr.	Randall’s +, SteinMart, Palais Royal, Cost Plus, Barnes & Noble	100.00%		383,779	0	0	383,779
Crestview	Bissonnet at Wilcrest	Creative Connection	100.00%		8,970	0	0	8,970
Cullen Place	Cullen at Reed	C&R Beauty Supply	100.00%		7,316	0	0	7,316
Cullen Plaza	Cullen at Wilmington	Fiesta +, Family Dollar, Beauty Empire	15.00%	(1)	12,678	71,839	0	84,517
Cypress Pointe	F.M. 1960 at Cypress Station	Kroger +, Office Depot, Babies “R” Us, America's Furniture Brands (O.B.O.)	100.00%		190,704	0	96,660	287,364
Eastpark	Mesa Rd. at Tidwell	Jack in the Box, CVS, US Postal Services (O.B.O.)	100.00%		1,576	0	0	1,576
Edgebrook	Edgebrook at Gulf Fwy.	Fiesta +, Bank One, Family Dollar	15.00%	(1)	11,749	66,575	0	78,324
Fiesta Village	Quitman at Fulton	Fiesta +	15.00%	(1)	4,537	25,712	0	30,249
Fondren/West Airport	Fondren at W. Airport	Save-A-Lot +	100.00%		56,593	0	0	56,593
Glenbrook Square	Telephone Road	Kroger +, Blockbuster	15.00%	(1)	11,472	65,011	0	76,483
Griggs Road	Griggs at Cullen	Family Dollar, Modern City, Citi Trends	15.00%	(1)	12,017	68,097	0	80,114
Harrisburg Plaza	Harrisburg at Wayside	Fallas Paredes	15.00%	(1)	14,016	79,422	0	93,438
Heights Plaza	20th St. at Yale	Kroger +, Walgreen’s	100.00%		71,777	0	0	71,777
Humblewood Shopping Plaza	Eastex Fwy. at F.M. 1960	Kroger +,Conn’s, Walgreen’s, Michael's (O.B.O.), DSW (O.B.O.)	100.00%		178,837	0	99,000	277,837
I-45/Telephone Rd. Center	I-45 at Maxwell Street	Seller Bros. +, Dollar Tree, FAMSA, Falles Paredes	15.00%	(1)	25,891	146,718	0	172,609
Independence Plaza	Town East Blvd., Mesquite	Babies “R” Us, Family Dollar	100.00%		179,182	0	0	179,182
Jacinto City	Market at Baca	Seller Bros. +, CVS/pharmacy	50.00%	(1)	24,569	24,569	0	49,138
Lawndale	Lawndale at 75th St.	Family Dollar, 99 Cents Only, LaMichoacana Meat Market	15.00%	(1)	7,709	43,684	0	51,393
Little York Plaza	Little York at E. Hardy	Seller Bros. +, Fallas Paredes	15.00%	(1)	17,603	99,750	0	117,353
Lyons Avenue	Lyons at Shotwell	Fiesta +, Fallas Paredes	15.00%	(1)	10,144	57,485	0	67,629
Market at Westchase	Westheimer at Wilcrest	Whole Foods Market +	100.00%		84,084	0	0	84,084
North Main Square	Pecore at N. Main	O’Reilly Autoparts	100.00%		18,515	0	0	18,515
North Oaks	F.M. 1960 at Veterans Memorial	T.J. Maxx, Ross Dress for Less, Staples, Big Lots, DSW, Half Price Books, Anna's Linens, Hobby Lobby, Mardels	15.00%	(1)	63,078	357,439	0	420,517
North Triangle	I-45 at F.M. 1960	Steak & Ale, CiCi’s Pizza	100.00%		16,060	0	0	16,060
Northbrook Center	Northwest Fwy. at W. 34th	Randall’s +, Office Depot, Citi Trends, Anna’s Linens, Dollar Tree	100.00%		172,479	0	0	172,479
Northway	Northwest Fwy. at 34th	Conn’s, Academy, Office Max	100.00%		217,136	0	0	217,136
Northwest Crossing	N.W. Fwy. at Hollister	Target (O.B.O.), Marshall’s, Babies “R” Us, Best Buy	75.00%	(1)(3)	137,507	45,836	120,721	304,064
Oak Forest	W. 43rd at Oak Forest	Kroger +, Palais Royal, Dollar Tree	100.00%		147,674	0	0	147,674
Orchard Green	Gulfton at Renwick	Seller Bros. +, Family Dollar	100.00%		74,983	0	0	74,983
Randall's /Cypress Station	F.M. 1960 at I-45	Randalls +	100.00%		138,974	0	0	138,974
Randall's /Kings Crossing	Kingwood Dr. at Lake Houston Pkwy.	Randall’s +, CVS/pharmacy	100.00%		127,525	0	0	127,525

Page 30

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Randall's/Norchester	Grant at Jones	Vacant	100.00%		107,200	0	0	107,200
Richmond Square	Richmond Ave. at W. Loop 610	Best Buy (O.B.O.), Cost Plus	100.00%		35,623	0	58,247	93,870
River Oaks East	W. Gray at Woodhead	Kroger +	100.00%		71,265	0	0	71,265
River Oaks West	W. Gray at S. Shepherd	Talbot’s, JoS. A. Bank, Ann Taylor, Gap, Barnes & Noble	100.00%		234,198	0	0	234,198
Sheldon Forest North	North, I-10 at Sheldon	Gerland’s +, Burke’s Outlet	100.00%		22,040	0	0	22,040
Sheldon Forest South	North, I-10 at Sheldon	Family Dollar	50.00%	(1)	37,670	37,670	0	75,340
Shops at Three Corners	S. Main at Old Spanish Trail	Fiesta, Office Depot, MacFrugal, PetsMart, Ross Dress for Less, Anna’s Linens, Big Lots	70.00%	(1)	176,498	75,642	0	252,140
Southgate	W. Fuqua at Hiram Clark	Food-A-Rama +, Palais Royal, CVS/pharmacy, Family Dollar	15.00%	(1)	18,816	106,624	0	125,440
Spring Plaza	Hammerly at Campbell	Seller Bros. +, Family Dollar	15.00%	(1)	8,425	47,741	0	56,166
Steeplechase	Jones Rd. at F.M. 1960	Palais Royal, 99 Cents Only, Anna's Linens, Goodwill Industries	100.00%		194,551	0	99,950	294,501
Stella Link	Stella Link at S. Braeswood	Seller Bros.+, Spec’s Liquor Warehouse, Burke’s Outlet	100.00%		96,396	0	0	96,396
Studemont	Studewood at E. 14th St	Fiesta +	100.00%		28,466	0	0	28,466
Ten Blalock Square	I-10 at Blalock	Fiesta +	100.00%		97,217	0	0	97,217
Village Arcade	University at Kirby	Gap, Baby Gap	100.00%		57,219	0	0	57,219
Village Arcade-Phase II	University at Kirby	Talbot’s	100.00%		28,371	0	0	28,371
Village Arcade-Phase III	University at Kirby	American Eagle Outfitters, Banana Republic, Express	100.00%		106,879	0	0	106,879
Westchase Center	Westheimer at Wilcrest	Ross Dress for Less, Randall’s +, Golfsmith, Palais Royal, Target (O.B.O.), Petco	100.00%		232,994	0	99,550	332,544
Westhill Village	Westheimer at Hillcroft	Ross Dress for Less, Office Depot, 99 Cents Only, Anna’s Linens	100.00%		130,562	0	0	130,562
Killeen Marketplace	3200 E. Central Texas Expressway, Killeen	Best Buy, Ross Dress for Less, Staples, Home Depot (O.B.O.)	100.00%		115,203	0	135,934	251,137
Cedar Bayou	Bayou Rd., La Marque	Dollar General, La Marque Fire Dept. (O.B.O)	100.00%		14,873	0	30,688	45,561
North Creek Plaza	Del Mar Blvd. at Hwy. I-35, Laredo	Old Navy, Bed Bath & Beyond, Best Buy, Target (O.B.O.), H.E.B. + (O.B.O.), Marshall’s	100.00%		242,293	0	206,463	448,756
Plantation Centre	Del Mar Blvd. at McPherson Rd., Laredo	H.E.B. +, Blockbuster	100.00%		134,919	0	0	134,919
League City Plaza	I-45 at F.M. 518, League City	Kroger +, Spec’s Liquor Warehouse	15.00%	(1)	19,048	107,942	0	126,990
Central Plaza	Loop 289 at Slide Rd., Lubbock	Bed Bath & Beyond, Old Navy, Staples	100.00%		151,196	0	0	151,196
Town and Country	4th St. at University, Lubbock	Hasting’s Records & Books	100.00%		30,743	0	0	30,743
Angelina Village	Hwy. 59 at Loop 287, Lufkin	Kmart, Ashley Furniture, Conn's	100.00%		256,940	0	0	256,940
Las Tiendas Plaza	Expressway 83 at McColl Rd., McAllen	Target (O.B.O.), Mervyn’s (O.B.O.), Academy, Conn’s, Ross Dress for Less, Marshall’s, Office Depot	50.00%	(1)(3)	143,968	143,968	242,132	530,067
Northcross	N. 10th St. at Nolana Loop, McAllen	Barnes & Noble	50.00%	(1)(3)	38,196	38,196	0	76,391
Old Navy Building	1815 10th Street, McAllen	Old Navy	50.00%	(1)(3)	7,500	7,500	0	15,000
South 10th St. HEB	S. 10th St. at Houston St., McAllen	H. E. B. +	50.00%	(1)(3)	51,851	51,851	0	103,702
Custer Park	SWC Custer Road at Parker Road, Plano	Kroger + (O.B.O), Dollar General	100.00%		115,484	0	65,084	180,568
Pitman Corners	Custer Road at West 15th, Plano	Albertsons +, Tuesday Morning	100.00%		192,283	0	0	192,283
Preston Shepard Place	Preston Rd. at Park Blvd.	SteinMart, Old Navy, Office Depot, Marshalls, Babies "R" Us, Borders	20.00%	(1)(3)	72,667	290,670	0	363,337
Gillham Circle	Gillham Circle at Thomas, Port Arthur	Family Dollar	100.00%		33,134	0	0	33,134
Starr Plaza	U.S. Hwy. 83 at Bridge St., Rio Grande City	H. E. B.+, Beall’s, Dollar General	50.00%	(1)(3)	88,406	88,406	0	176,812
Rockwall	I-30 at Market Center Street, Rockwall	Office Max, Petco, Ross Dress for Less, Old Navy, Linens ‘N Things, Michael’s	100.00%		209,051	0	0	209,051
Rose-Rich	U.S. Hwy. 90A at Lane Dr., Rosenberg	Family Dollar, Palais Royal	100.00%		103,385	0	0	103,385
Lake Pointe Market Center	Dalrock Rd. at Lakeview Pkwy., Rowlett	Tom Thumb + (O.B.O.), Walgreen’s (O.B.O.)	100.00%		42,860	0	81,176	124,036
Boswell Towne Center	Highway 287 at Bailey Boswell Rd., Saginaw	Albertsons + (O.B.O)	100.00%		26,088	0	61,747	87,835
Fiesta Trails	I-10 at DeZavala Rd., San Antonio	H. E. B. + (O.B.O), Target (O.B.O.), Barnes & Noble, Act III Theatres, Marshall’s, Office Max, SteinMart, Petco, Anna’s Linens	100.00%		312,370	0	176,000	488,370
Oak Park Village	Nacogdoches at New Braunfels, San Antonio	H. E. B. +	100.00%		64,287	0	0	64,287
Parliament Square	W. Ave. at Blanco, San Antonio	Bernina New Home Sewing Center	100.00%		64,950	0	0	64,950
Parliament Square II	W. Ave. at Blanco, San Antonio	Incredible Pizza	100.00%		54,541	0	0	54,541
Thousand Oaks	Thousand Oaks Dr. at Jones Maltsberger Rd., San Antonio	H. E. B. +, Beall’s, Tuesday Morning	15.00%	(1)	24,432	138,450	0	162,882
Valley View	West Ave. at Blanco Rd., San Antonio	Marshall’s, Blockbuster, Dollar Tree	100.00%		89,859	0	0	89,859

Page 31

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Market at Town Center	Town Center Blvd., Sugar Land	Old Navy, Home Goods, Marshall’s, Linens ‘N Things, DSW Shoe Warehouse, Ross Dress for Less,	100.00%		375,820	0	0	375,820
New Boston Road	New Boston at Summerhill, Texarkana	Rehkopf’s Grocery +, Salvation Army	100.00%		97,000	0	0	97,000
Island Market Place	6th St. at 9th Ave., Texas City	Food King +	100.00%		27,277	0	0	27,277
Palmer Plaza	F.M. 1764 at 34th St., Texas City	Randall’s +, Big Lots (O.B.O.), Dollar Tree	100.00%		96,526	0	99,980	196,506
Broadway	S. Broadway at W. 9th St., Tyler	SteinMart	100.00%		60,400	0	0	60,400
Crossroads	I-10 at N. Main, Vidor	Market Basket +, Beall’s, Baskin’s, Burke’s Outlet	100.00%		115,692	0	0	115,692
Texas Total:	# of Properties:  103				10,386,444	2,651,468	2,485,403	15,523,313
Utah
Alpine Valley Center	Main St. at State St., American Fork	Super Target + (O.B.O.), Old Navy, Pier 1 Imports, Dollar Tree, Office Depot	33.30%	(1)(3)	30,382	60,772	133,500	224,654
Taylorsville Town Center	West 4700 South at Redwood Rd., Taylorsville	Albertsons + (O.B.O.),Rite Aid	100.00%		94,157	0	40,057	134,214
West Jordan Town Center	West 7000 South at S. Redwood Rd., West Jordan	Albertsons + , Office Depot, Target (O.B.O.), Petco, Party City	100.00%		182,099	0	122,800	304,899
Utah Total:	# of Properties:  3				306,638	60,772	296,357	663,767
Washington
Mukilteo Speedway Center	Mukilteo Speedway, Lincoln Way, and Highway 99, Lynnwood	Food Emporium +, Bartell Drugs	20.00%	(1)(3)	18,055	72,218	0	90,273
Meridian Town Center	Meridian Avenue East and 132nd Street East, Puyallup	Jo-Ann Fabric & Craft Store, Safeway + (O.B.O)	20.00%	(1)(3)	15,533	62,133	65,346	143,012
South Hill Center	43rd Avenue Southwest and Meridian Street South, Puyallup	Best Buy, Bed Bath & Beyond, Ross	20.00%	(1)(3)	26,804	107,216	0	134,020
Rainer Square Plaza	Rainer Avenue South and South Charleston Street, Seattle	Safeway +	20.00%	(1)(3)	21,485	85,938	0	107,423
Washington Total:	# of Properties:  4				81,877	327,505	65,346	474,728
Industrial
Operating Properties
California
Siempre Viva Business Park	Siempre Viva Rd. at Kerns St., San Diego	Hitachi Transport, UPS Supply Chain Solutions, Inc., Bose Corp., NYK Logistics, Eaton Corporation	20.00%	(1)(3)	145,353	581,413	0	726,766
California Total:	# of Properties:  1				145,353	581,413	0	726,766
Florida
Lakeland Industrial Center	I-4 at County Rd., Lakeland	Rooms to Go, Amware Pallet Services, Publix, LaSalle Bristol	100.00%		600,000	0	0	600,000
Lakeland Interestate Industrial Park I	Interstate Drive and Kathleen Rd., Lakeland	Carolina Logistics Services, Inc., Acuity Specialty Products Group, Inc., Sunrise Medical HHG, Inc.	100.00%		168,400	0	0	168,400
1801 Massaro	1801 Massaro Blvd., Tampa	MiTek Industries, Inc.	100.00%		159,000	0	0	159,000
Hopewell Industrial Center	Old Hopewell Boulevard and U.S. Highway 301, Tampa	Parts Depot, Inc., American Tire Distributors	100.00%		224,483	0	0	224,483
Tampa East Industrial Portfolio	1841 Massaro Blvd., Tampa	General Electric, Hughes Supply, Interline Brands, GE Polymershapes	100.00%		512,923	0	0	512,923
Florida Total:	# of Properties:  5				1,664,806	0	0	1,664,806
Georgia
Atlanta Industrial Park	Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta	Target Container Co., Sanderson Industries, Inc., Recall Secure Destruction Services, Inc., Georgia Aquarium, Inc.	100.00%		120,200	0	0	120,200
Atlanta Industrial Park II & VI	Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta	Target Container Co., Sanderson Industries, Inc., Recall Secure Destruction Services, Inc., Georgia Aquarium, Inc.	100.00%		382,100	0	0	382,100
Atlanta Industrial Parkway	Atlanta Industrial Pkwy. at Atlanta Industrial Dr., Atlanta	Target Container Co., Sanderson Industries, Inc., Recall Secure Destruction Services, Inc., Georgia Aquarium, Inc.	100.00%		50,000	0	0	50,000
Riverview Distribution Center	Fulton Industrial Blvd. at Camp Creek Parkway	CHEP USA	100.00%		265,200	0	0	265,200
Sears Logistics	3700 Southside Industrial Way, Atlanta	Sears Logistics Services, Inc.	20.00%	(1)(3)	80,511	322,043	0	402,554

Page 32

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
SouthPark 3075	Anvil Block Rd and SouthPark Blvd, Atlanta	American Tire Distributors	100.00%		234,525	0	0	234,525
Southside Industrial Parkway	Southside Industrial Pkwy at Jonesboro Rd., Atlanta	Lowe Supply, Inc., Mission Produce, Masco Contractor Services	100.00%		72,000	0	0	72,000
Westlake 125	Camp Creek Parkway and Westlake Parkway, Atlanta	Maxwell Chase Technologies, LLC, Nissei ASB Company, Berlin Packaging	100.00%		154,464	0	0	154,464
Kennesaw 75	3850-3900 Kennesaw Prkwy, Kennesaw	Clorox Services Company, Builders Specialties, LLC	100.00%		178,467	0	0	178,467
6485 Crescent Drive	I-85 at Jimmy Carter Blvd., Norcross	Zurn, Pax Industries, Inc., Prime Choice Properties, Inc.	20.00%	(1)(3)	72,092	288,368	0	360,460
Georgia Total:	# of Properties:  8				1,609,559	610,411	0	2,219,970
Tennessee
Crowfarn Drive Warehouse	Crowfarn Dr. at Getwell Rd., Memphis	Diamond Comic Distributors, Inc, Acorn International	20.00%	(1)(3)	31,770	127,079	0	158,849
Outland Business Center	Outland Center Dr., Memphis	Vistar Corporation, TricorBraun, Quest Communications Corporation, Kuehne & Nagel, Inc., Concentra	20.00%	(1)(3)	82,028	328,110	0	410,138
Southpoint I & II	Pleasant Hill Rd. at Shelby Dr., Memphis	AF Services, Sunnywood Products, Inc., Constar	100.00%		570,940	0	0	570,940
Tennessee Total:	# of Properties:  3				684,738	455,189	0	1,139,927
Texas
Midpoint I-20 Distribution Center	New York Avenue and Arbrook Boulevard, Arlington	DHL, INX International	100.00%		253,165	0	0	253,165
Randol Mill Place	Randol Mill Road, Arlington	American Institute of Intradermal Cosmetics, Protech Electronics, Inc.	100.00%		54,639	0	0	54,639
Braker 2 Business Center	Kramer Ln. at Metric Blvd., Austin	Home Team Pest Defense, MJC Electronics Corporation	100.00%		27,359	0	0	27,359
Corporate Center Park I and II	Putnam Dr. at Research Blvd., Austin	Phoenix – Lamar Corp, Apria Healthcare, Inc., Walgreen Co.	100.00%		119,452	0	0	119,452
Oak Hills Industrial Park	Industrial Oaks Blvd., Austin	Terracon, Inc., Honeywell	100.00%		89,858	0	0	89,858
Rutland 10 Business Center	Metric Blvd. At Centimeter Circle, Austin	Media Event Concepts,  Inc., Technowood, Inc., Aramark, Liant Manufacturing	100.00%		54,000	0	0	54,000
Southpark A,B,C	East St. Elmo Rd. at Woodward St., Austin	HJV Associates, Inc., EZ Corp, Inc.	100.00%		78,276	0	0	78,276
Southpoint Service Center	Burleson at Promontory Point Dr., Austin	Browning Construction Co., Ltd.,	100.00%		57,667	0	0	57,667
Wells  Branch Corporate Center	Wells Branch Pkwy., Austin	RDA Promart, Allstate Insurance	100.00%		59,144	0	0	59,144
1625 Diplomat Drive	SWC Diplomat Dr. at McDaniel Dr., Carrollton	Rooftop Systems, Inc.	100.00%		106,140	0	0	106,140
Midway Business Center	Midway at Boyington, Carrollton	ProSource, Luxury of Leather	100.00%		141,246	0	0	141,246
Manana Office Center	I-35 at Manana, Dallas	Omega Environmental Technologies, Dave & Busters, B&B Graphics Finishing Services	100.00%		223,128	0	0	223,128
Newkirk Service Center	Newkirk near N.W. Hwy., Dallas	Applied Industrial Technologies, AWC	100.00%		105,892	0	0	105,892
Northeast Crossing Office/Service Center	East N.W. Hwy. at Shiloh, Dallas	Capital Title, Garland Surgery Center	100.00%		78,700	0	0	78,700
Northwest Crossing Office/Service Center	N.W. Hwy. at Walton Walker, Dallas	Corporate Care, Magnum Cable Corp.	100.00%		126,984	0	0	126,984
Redbird Distribution Center	Joseph Hardin Drive, Dallas	Consolidated Container Company; Texwood Industries, L.P.	100.00%		110,839	0	0	110,839
Regal Distribution Center	Leston Avenue, Dallas	Parkland Health & Hosp System, BKM Total Office of Texas, L.P., Global Industries Southwest	100.00%		202,559	0	0	202,559
Space Center Industrial Park	Pulaski St. at Irving Blvd., Dallas	Weir’s Furniture Village, Inc., Facility Interiors, Inc.	100.00%		264,582	0	0	264,582
McGraw Hill Distribution Center	420 E. Danieldale Rd, DeSoto	McGraw Hill Companies, Inc.	100.00%		417,938	0	0	417,938
610 and 11th St. Warehouse	Loop 610 at 11th St.	Iron Mountain, Luxury Motors	20.00%	(1)(3)	48,728	194,914	0	243,642
610 and 11th St. Warehouse	Loop 610 at 11th St.	Prefco Corp.	100.00%		104,975	0	0	104,975
610/288 Business Park	Cannon Street	Palmer Logistics	20.00%	(1)(3)	59,085	236,341	0	295,426
Beltway 8 Business Park	Beltway 8 at Petersham Dr.	Terminix, Carrier Sales and Distribution, Odwalla, Inc.	100.00%		157,498	0	0	157,498
Blankenship Building	Kempwood Drive	Classic Printers	100.00%		59,729	0	0	59,729
Brookhollow Business Center	Dacoma at Directors Row	Surgeon's Management, Houston Digital Instruments, Pioneer Contract Services	100.00%		133,553	0	0	133,553
Central Park Northwest VI	Central Pkwy. at Dacoma	Houston Metallurgical Lab, Inc., Desktop Digital Prining, Inc.	100.00%		175,348	0	0	175,348
Central Park Northwest VII	Central Pkwy. at Dacoma	Lucent Technologies, Inc., Houston Graduate School of Theology	100.00%		103,602	0	0	103,602
Crosspoint Warehouse	Crosspoint	Foam Enterprises, LLC.	100.00%		72,505	0	0	72,505
Houston Cold Storage Warehouse	7080 Express Lane	Houston Central Industries, Inc.	100.00%		128,752	0	0	128,752
Jester Plaza Office Service Center	West T.C. Jester	Corporate Care of Houston, Milwaukee Electric Tool Corporation	100.00%		100,605	0	0	100,605

Page 33

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Kempwood Industrial	Kempwood Dr. at Blankenship Dr.	Pioneer Contract Services, Veritas	20.00%	(1)(3)	43,898	175,591	0	219,489
Kempwood Industrial	Kempwood Dr. at Blankenship Dr.	Pioneer Contract Services	100.00%		113,218	0	0	113,218
Lathrop Warehouse	Lathrop St. at Larimer St.	United D.C., Inc.	20.00%	(1)(3)	50,378	201,512	0	251,890
Navigation Business Park	Navigation at N. York	Packwell, Inc.	20.00%	(1)(3)	47,664	190,657	0	238,321
Northway Park II	Loop 610 East at Homestead	Jet Lube, Inc.	20.00%	(1)(3)	60,697	242,786	0	303,483
Railwood F	Market at U.S. 90	Shell Oil Company	20.00%	(1)(3)	60,000	240,000	0	300,000
Railwood Industrial Park	Mesa at U.S. 90	Bison Building Materials, Ltd., DSC Logistics	20.00%	(1)(3)	99,531	398,125	0	497,656
Railwood Industrial Park	Mesa at U.S. 90	SIG Southwest, Global Stainless Supply, Inc., Meridian IQ	100.00%		402,680	0	0	402,680
South Loop Business Park	S. Loop at Long Dr.	Plastic Plus Awards, Lumber Liquidators	50.00%	(1)(3)	46,225	46,225	0	92,450
Southport Business Park 5	South Loop 610	International Surface Preparation Group, Inc., Sandvik, Inc.	100.00%		160,653	0	0	160,653
Southwest Park II Service Center	Rockley Road	Bioassay Laboratory, Inc.	100.00%		67,700	0	0	67,700
Stonecrest Business Center	Wilcrest at Fallstone	Aztec Facility Services, Inc.	100.00%		110,641	0	0	110,641
Town & Country Commerce Center	I-10 at Beltway 8	Arizona Tile, Seitel	100.00%		206,000	0	0	206,000
West 10 Business Center II	Wirt Rd. at I-10	Summers Group, Inc.	100.00%		82,658	0	0	82,658
West Loop Commerce Center	W. Loop N. at I-10	Inter-Tel Technologies	100.00%		34,256	0	0	34,256
West-10 Business Center	Wirt Rd. at I-10	Aaron’s Office Furniture	100.00%		102,087	0	0	102,087
Westgate Service Center	Park Row Drive at Whiteback Dr.	Welltec, Inc.,Wood Group, 3M, Columbia Analytical Services, Inc.	100.00%		119,786	0	0	119,786
Freeport Commerce Center	Sterling Street and Statesman Drive, Irving	McGraw Hill Companies, Inc., TKS (U.S.A.), Inc., Air Tiger Express	100.00%		50,590	0	0	50,590
Central Plano Business Park	Klein Rd. at Plano Pkwy., Plano	CK Management, Inc., Minarik Corp.	100.00%		137,785	0	0	137,785
Jupiter Service Center	Jupiter near Plano Pkwy., Plano	Interceramic Tile, Gemaire Distributors	100.00%		78,480	0	0	78,480
Sherman Plaza Business Park	Sherman at Phillips, Richardson	Leggett & Platt, Inc., The Volkswagen Store	100.00%		101,137	0	0	101,137
Interwest Business Park	Alamo Downs Parkway, San Antonio	All-American Sports, Gell Service Company, Inc., Goodman Manufacturing Company, L.P.	100.00%		219,245	0	0	219,245
Isom Business Park	919-981 Isom Road, San Antonio	Gate Gourmet, Wells Fargo Bank	100.00%		175,200	0	0	175,200
O'Connor Road Business Park	O’Connor Road, San Antonio	Ingersoll Rand , TD Industries	100.00%		150,091	0	0	150,091
Freeport Business Center	13215 N. Promenade Blvd., Stafford	Fairfield Industries, Yokagawa, Gurwitch Industries	100.00%		251,385	0	0	251,385
Texas Total:	# of Properties:  50				6,687,933	1,926,151	0	8,614,084
Virginia
Enterchange at Northlake A	11900-11998 North Lakeridge Parkway, Ashland	Owens & Minor, VSE Corporation, FedEx Ground	100.00%		215,077	0	0	215,077
Enterchange at Northlake C	North Lakeridge Parkway & Northlake Park Dr, Ashland	Handleman Company, International Paper, Owens & Minor	20.00%	(1)(3)	58,623	234,492	0	293,115
Enterchange at Meadowville	2101 Bermuda Hundred Dr, Chester	Vacant	20.00%	(1)(3)	45,362	181,447	0	226,809
Enterchange at Walthall A & B	1900-1998 Ruffin Mill Rd, Colonial Heights	Mazda Motors of America, Inc.,  Xymid LLC, Central National-Gottesman, Inc.	20.00%	(1)(3)	121,356	485,424	0	606,780
Enterchange at Walthall C	1936-1962 Ruffin Mill Rd, Colonial Heights	PSS World Medical, Hill Phoenix	20.00%	(1)(3)	52,384	209,538	0	261,922
Enterchange at Walthall D	1700-1798 Ruffin Mill Rd, Colonial Heights	Recall, Jim's Formal Wear	100.00%		214,758	0	0	214,758
Interport Business Center A	4800-4890 Eubank Road, Richmond	Anderson News, LLC, HD Business LLC, Wyeth	20.00%	(1)(3)	89,482	357,930	0	447,412
Interport Business Center B	4700-4790 Eubank Road, Richmond	Mid South Building Supply, Inc., Alcoa, EGL Eagle Global Logistics, LP	20.00%	(1)(3)	23,600	94,400	0	118,000
Interport Business Center C	5300-5390 Laburnum Ave, Richmond	Sears Home Improvement Products, Inc., Ferguson	20.00%	(1)(3)	10,977	43,908	0	54,885
Virginia Total:	# of Properties:  9				831,619	1,607,139	0	2,438,758
Other
Operating Properties
Arizona
Arcadia Biltmore Plaza	Campbell Ave. at North 36th St., Phoenix	Endurance Rehab, Weingarten Realty Regional Office	100.00%		13,879	0	0	13,879
Arizona Total:	# of Properties:  1				13,879	0	0	13,879
Texas
1919 North Loop West	Hacket Drive at West Loop 610 North	State of Texas, Weingarten Realty Regional Office	100.00%		132,978	0	0	132,978
Citadel Plaza	Citadel Plaza Dr.	Weingarten Realty Investors Corporate Office	100.00%		13,460	0	0	13,460

Page 34

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Texas Total:	# of Properties:  2				146,438	0	0	146,438
Total Operating Properties	# of Properties:  381				47,052,877	11,885,976	9,661,963	68,600,812
New Development
Arizona
Gladden Farms	Lon Adams Rd at Tangerine Farms Rd		50.00%	(1)(2)	5,842	5,842	108,000	119,685
Mohave Crossroads	Bullhead Parkway at State Route 95, Bullhead City		100.00%	(2)	139,035	0	197,360	336,395
Raintree Ranch	Ray Road at Price Road, Chandler		100.00%	(2)	128,106	0	0	128,106
The Shoppes at Parkwood Ranch	Southern Avenue and Signal Butte Road, Mesa		100.00%	(2)	69,300	0	0	69,300
Arizona Total:	# of Properties: 4				342,283	5,842	305,360	653,486
California
Jess Ranch Marketplace	Bear Valley Road at Jess Ranch Parkway, Apple Valley		50.00%	(1)(2)(3)	98,108	98,108	93,696	289,911
Jess Ranch Phase III	Bear Valley Road at Jess Ranch Parkway, Apple Valley		50.00%	(1)(2)(3)	71,250	71,250	0	142,500
California Total:	# of Properties: 2				169,358	169,358	93,696	432,411
Colorado
River Point at Sheridan	Highway 77 and Highway 88, Sheridan		50.00%	(1)(2)(3)	23,669	23,669	327,000	374,338
The Gardens on Havana	Mississippi at Havana, Aurora		50.00%	(1)(2)	1,388	1,388	142,500	145,276
Colorado Total:	# of Properties: 2				25,057	25,057	469,500	519,614
Florida
Clermont Landing	U.S. 27 & Steve's Road		55.00%	(1)(2)	38,191	31,247	104,175	173,613
Colonial Landing	East Colonial Dr. at Maguire Boulevard, Orlando		50.00%	(1)(2)	131,634	131,634	0	263,267
Curry Ford	Young Pines and Curry Ford Rd, Orange County		100.00%	(2)	0	0	0	0
Palm Coast Center	State Road 100 & Belle Terre Parkway, Palm Coast		50.00%	(1)(2)	71,542	71,542	179,476	322,561
Phillips Crossing	Interstate 4 and Sand Lake Road, Orlando		100.00%	(2)	112,373	0	0	112,373
Phillips Landing	Turkey Lake Rd., Orlando		100.00%	(2)	38,910	0	219,815	258,725
Florida Total:	# of Properties: 6				392,650	234,423	503,466	1,130,539
Georgia
South Fulton Town Center	NWC South Fulton Parkway @ Hwy 92, Union City		50.00%	(1)(2)	1,300	1,300	176,000	178,601
Georgia Total:	# of Properties: 1				1,300	1,300	176,000	178,601
Nevada
Decatur 215	Decatur at 215		50.00%	(1)(2)	1,250	1,250	132,362	134,862
Nevada Total:	# of Properties: 1				1,250	1,250	132,362	134,862
North Carolina
Southern Pines	U.S. 15-501 and Bruce Wood Rd, Southern Pines		100.00%	(2)	0	0	0	0
Surf City Crossing	Highway 17 and Highway 210, Surf City		75.00%	(1)(2)	36,567	12,189	0	48,756
Waterford Village	US Hwy 17 & US Hwy 74/76, Leland		75.00%	(1)(2)	49,105	16,368	0	65,473
North Carolina Total:	# of Properties: 3				85,672	28,557	0	114,229
Tennessee
Ridgeway Trace	Memphis		100.00%	(2)	0	0	137,740	137,740

Page 35

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Tennessee Total:	# of Properties: 1				0	0	137,740	137,740
Texas
Claywood Industrial Park	Clay at Hollister		100.00%	(2)	390,141	0	0	390,141
Gateway Station	I-35W and McAlister Rd., Burleson		70.00%	(1)(2)	21,000	9,000	0	30,000
Horne Street Market	I-30 & Horne Street, Fort Worth		100.00%	(2)	0	0	0	0
Market at Nolana	Nolana Ave and 29th St., McAllen		50.00%	(1)(2)(3)	14,624	14,624	203,818	233,067
Market at Sharyland Place	U.S. Expressway 83 and Shary Road, Mission		50.00%	(1)(2)(3)	45,706	45,706	320,000	411,412
North Sharyland Towne Crossing	Shary Rd. at North Hwy. 83, Mission		50.00%	(1)(2)(3)	0	0	0	0
North Towne Plaza	U.S. 77 and 83 at SHFM 802, Brownsville		75.00%	(1)(2)	0	0	117,000	117,000
Railwood G	Mesa at U.S. 90		50.00%	(1)(2)(3)	105,425	105,425	0	210,850
Sharyland Towne Crossing	Shary Rd. at Hwy. 83, Mission		50.00%	(1)(2)(3)	172,234	172,234	131,909	476,376
Stevens Ranch	NEC SH 211 and Potranco Road, San Antonio		50.00%	(1)(2)	0	0	0	0
Tomball Marketplace	FM 2920 and Future 249, Tomball		100.00%	(2)	0	0	85,000	85,000
Westover Square	151 and Ingram, San Antonio		66.70%	(1)(2)	0	0	0	0
Westwood Center	Culebra Road and Westwood Loop, San Antonio		100.00%	(2)	5,000	0	0	5,000
Texas Total:	# of Properties: 13				754,130	346,989	857,727	1,958,846
Utah
300 West Retail Center	Paxton Ave and 400 West St		31.80%		0	0	0	0
Utah Total:	# of Properties: 1				0	0	0	0
Washington
Village at Liberty Lake	E. Country Vista Dr. at N. Liberty Rd., Liberty Lake		50.00%	(1)(2)(3)	0	0	132,874	132,874
Washington Total:	# of Properties: 1				0	0	132,874	132,874
Total New Developments	# of Properties: 35				1,771,700	812,776	2,808,725	5,393,202
Unimproved Land
Arizona
Bullhead Parkway at State Route 95, Bullhead City								7,185
Arizona Total:								7,185
Louisiana
U.S. Highway 171 at Parish, DeRidder								462,000
70th St. at Mansfield Rd., Shrevesport								41,704
Louisiana Total:								503,704
North Carolina
Creedmoor (Highway 50) and Crabtree Valley Avenue, Raleigh								576,000
U.S. Highway 1 at Caveness Farms Rd., Wake Forest								3,380,000
North Carolina Total:								3,956,000
Texas
Rock Prairie Rd. at Hwy. 6, College Station								2,590,000
River Pointe Drive at Interstate 45, Conroe								118,483
Leslie Rd. at Bandera Rd., Helotes								75,000
Bissonnet at Wilcrest, Houston								84,629
Citadel Plaza at 610 North Loop, Houston								137,000
East Orem								122,000
Kirkwood at Dashwood Drive, Houston								322,000
Mesa Road at Tidwell, Houston								35,898

Page 36

Weingarten Realty Investors
Property Listing at March 31, 2008
					Gross Leasable Area
			WRI			Joint	Owned
			Owned	Foot	WRI	Venture	by
Center	Location	Anchors	%	Notes	Owned	Share	Other	Total
Northwest Freeway at Gessner, Houston								340,456
West Little York at Interstate 45, Houston								161,000
West Loop North at Interstate 10, Houston								145,000
Shaver at Southmore, Pasadena								17,000
9th Ave. at 25th St., Port Arthur								243,000
Highway 3 at Highway 1765, Texas City								201,000
Texas Total:								4,592,466
Total Unimproved Land								9,059,355

Page 37

Weingarten Realty Investors
Condensed Consolidated Statements of Income at Prorata Share
(in thousands, except per share amounts)
Important Note: We are discontinuing the production and distribution of financial statements prepared on a prorata basis.
They will not appear in this supplemental package in any future quarters.
	Three Months Ended
	March 31,						Twelve Months Ended December 31,
	2008			2007			2007			2006			2005			2004
Revenues:
Rentals	$	160,199		$	146,097		$	614,413		$	538,188		$	483,558		$	432,121
Other		2,706			2,141			13,786			7,611			6,395			7,962
Total		162,905			148,238			628,199			545,799			489,953			440,083
Expenses:
Depreciation and amortization		45,221			32,892			139,545			122,475			110,530			97,964
Operating		27,484			23,243			108,193			87,764			72,611			68,116
Ad valorem taxes		19,212			16,925			71,732			62,958			56,274			49,578
General and administrative		6,887			6,619			27,180			23,902			17,436			16,125
Impairment loss																	3,200
Total		98,804			79,679			346,650			297,099			256,851			234,983
Operating Income		64,101			68,559			281,549			248,700			233,102			205,100
Interest Expense		(35,269	)		(37,172	)		(153,577	)		(146,150	)		(128,270	)		(114,485	)
Interest and Other Income		1,404			2,756			12,543			10,686			3,635			2,553
Loss on Redemption of Preferred Shares																	(3,566	)
Income Allocated to Minority Interests		(1,194	)		(1,106	)		(5,155	)		(5,453	)		(5,218	)		(3,990	)
Gain on Sale of Properties		26			2,089			6,255			26,549			22,102			1,460
Gain on Land and Merchant Development Sales		667			666			15,973			8,274			889
(Provision) Benefit for Income Taxes		(749	)		9			(4,076	)		(1,366	)
Income From Continuing Operations		28,986			35,801			153,512			141,240			126,240			87,072
Operating Income From Discontinued Operations		265			2,728			4,626			18,263			27,954			29,426
Gain on Sale of Properties From Discontinued Operations		8,143			12,856			79,879			145,507			65,459			24,883
Income From Discontinued Operations		8,408			15,584			84,505			163,770			93,413			54,309
Net Income		37,394			51,385			238,017			305,010			219,653			141,381
Preferred Share Dividends		(8,618	)		(4,728	)		(25,375	)		(10,101	)		(10,101	)		(7,470	)
Net Income Available to Common Shareholders	$	28,776		$	46,657		$	212,642		$	294,909		$	209,552		$	133,911
Net Income Per Common Share - Basic	$	0.34		$	0.54		$	2.49		$	3.36		$	2.35		$	1.55
Net Income Per Common Share - Diluted	$	0.34		$	0.53		$	2.44		$	3.27		$	2.31		$	1.54
Note:
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.
The Condensed Consolidated Statements of Income at Prorata Share include the real estate operations of joint ventures and partnerships at WRI's ownership percentages ranging from 7.8% to 81% except for the operations of down-reit partnerships, which are included at 100%.

Page 38

Weingarten Realty Investors
Consolidated Balance Sheets at Prorata Share
(in thousands, except per share amounts)
Important Note: We are discontinuing the production and distribution of financial statements prepared on a prorata bais. They will not appear in this supplemental package in any future quarters.
	March 31,			December 31,
	2008			2007
ASSETS
Property	$	5,209,452		$	5,287,823
Accumulated Depreciation		(757,136	)		(788,141	)
Property Held for Sale, net		7,590
Property, net		4,459,906			4,499,682
Notes Receivable from Real Estate Joint Ventures and Partnerships		114,714			88,804
Unamortized Debt and Lease Costs		125,984			130,255
Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $10,397 in 2008 and $10,055 in 2007)		98,018			102,527
Cash and Cash Equivalents		66,165			71,550
Restricted Deposits and Mortgage Escrows		30,120			56,331
Other		180,369			143,960
Total	$	5,075,276		$	5,093,109
LIABILITIES AND SHAREHOLDERS' EQUITY
Debt	$	3,160,646		$	3,242,349
Accounts Payable and Accrued Expenses		126,492			166,694
Other		209,613			149,938
Total		3,496,751			3,558,981
Minority Interest		126,810			64,163
Commitments and Contingencies
Shareholders' Equity:
Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000
6.75% Series D cumulative redeemable preferred shares of beneficial interest;  100 shares issued and outstanding in 2008 and 2007;  liquidation preference $75,000		3			3
6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2008 and 2007;  liquidation preference $72,500		1			1
6.5% Series F cumulative redeemable preferred shares of beneficial interest; 80 shares issued and outstanding in 2008 and 2007; liquidation preference $200,000		2			2
Variable-rate Series G cumulative redeemable preferred shares of beneficial interest, 80 shares issued and outstanding in 2008 and 2007; liquidation preference $200,000		2			2
Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 83,933 in 2008 and 85,146 in 2007		2,528			2,565
Treasury Shares of Beneficial Interest - par value, $.03 per share; 1,370 shares outstanding in 2007					(41	)
Accumulated Additional Paid-In Capital		1,444,180			1,442,027
Net Income in Excess of Accumulated Dividends		27,459			42,739
Accumulated Other Comprehensive Loss		(22,460	)		(17,333	)
Shareholders' Equity		1,451,715			1,469,965
Total	$	5,075,276		$	5,093,109
Note:
Prorata financial information is not, and is not intended to be, a presentation in accordance with generally accepted accounting principles.
The Consolidated Balance Sheets at Prorata Share include the real estate operations of joint ventures and partnerships at WRI's ownership percentages ranging from 7.8% to 81% except for the operations of down-reit partnerships, which are included at 100%.

Page 39