Earlier Funds

The 2001-2002 Fund. The ABR Chesapeake Fund (the "2001-2002 Fund") invested in a portfolio of 28 investments, with a total original project cost of more than $371 million. The 2001-2002 Fund was structured to consolidate, in a single portfolio of properties, the capital commitments of ABR and its shareholders, ABR's US taxable and tax-exempt investors, and ABR's non-US investors.

The 1999 Fund. The Chesapeake Property Finance Fund II (the "1999 Fund") invested in a portfolio of 31 investments, with a total original project cost of more than $281 million. The 1999 Fund was a co-investment fund substantially similar in structure to the 2001-2002 Fund, again consolidating the capital commitments of ABR and its shareholders, ABR's US taxable and tax-exempt investors, and ABR's non-US investors.

The 1998 Fund. Alex. Brown Realty Investors II Limited Partnership (the "1998 Fund") invested in a portfolio of 18 investments, with a total original project cost of more than $200 million.

The 1996 Fund. Alex. Brown Realty Investors Limited Partnership (the "1996 Fund") invested in a portfolio of 11 investments, with an original project cost of more than $76 million.

The 1994 Fund. The Chesapeake Property Finance Fund (the "1994 Fund") invested in a portfolio of six investments, with a total original project cost of $55 million. All of the assets of the 1994 Fund have been liquidated.