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FORESTClTY 1 .2 FINANCIAL STABILITY City of Ramsey Town Center Proposal Forest City Enterprises, Inc. is an $1.1..7 billion NYSE-listed national real estate company. Founded in 1.920, the Company views investment management with a strategic vision that effectively manages current cash flows and creates long-term value for all stakeholders, including our shareholders, partners and communities. Throughout our 90-year history, the Company has survived and thrived through many challenging real estate and economic cycles. Forest City has been able to meet its commitments and excel despite the latest financial conditions. During 2008, Forest City opened or acquired 1.4 projects, which represent $893.8 million of cost at Forest City's pro-rata share. Also in 2008, Forest City opened retail centers in Tampa, FLj Richmond, VAj and Denver, CO totaling approximately 2.6 million SF. In Baltimore, MD, Forest City opened a 279,000 SF, state-of-the-art research office building at the Science + Technology Park at Johns Hopkins. In Albuquerque, NM, Forest City completed the first phase of a new office building for Fidelity Investments, as well as an agreement with Sandia National Laboratories to partner on the development of solar technologies. The year also saw residential properties open in Dallas, TXj Richmond, VAj Oakland, CAj and Haverhill, MA. As a testament to the Company's strength and capabilities, Forest City has been successful in completing financing transactions during an extremely tough capital markets environment. In 2008, Forest City closed on $2.3 billion in non-recourse mortgage financings, including $580 million in re-financings, $1..1. billion in development projects and acquisitions, and $643 million in loan extensions and additional funding. In May, 2009, Forest City completed a secondary common stock offering with net proceeds of approximately $329.8 million. As a public company with a variety of institutional partners, we believe in transparency and have developed an accounting and reporting system that meets the needs of all of our constituents. Forest City has worked with many partners in our history and we have the proven capability of providing timely verbal, written and financial reporting to our institutional partners. Due to our status as a publicly-traded company, our internal financial systems have been used for internal and external reporting and have very extensive and flexible capabilities to meet City of Ramsey's needs. In addition to being included herein via link, Forest City's Financial Reports (i.e. Annual Reports, SEC Filings, and Supplemental Packages) can be accessed at www.forestcity.net under the Investor Relations section. [D]