PROCEDURES TO ACCESS 2002 YEAR-END TAX INFORMATION FOR REAL ESTATE INVESTMENT TRUSTS

[15357] November 15, 2002 TO: ACCOUNTING/TREASURERS MEMBERS No. 46-02 BANK AND TRUST ADVISORY COMMITTEE No. 13-02 BROKER/DEALER ADVISORY COMMITTEE No. 45-02 CLOSED-END INVESTMENT COMPANY MEMBERS No. 59-02 OPERATIONS MEMBERS No. 32-02 TAX MEMBERS No. 47-02 TRANSFER AGENT ADVISORY COMMITTEE No. 98-02 RE: PROCEDURES TO ACCESS 2002 YEAR-END TAX INFORMATION FOR REAL ESTATE INVESTMENT TRUSTS This memorandum describes the procedures for Institute members that are regulated investment companies (“RICs”) to access 2002 year-end tax information for real estate investment trusts (“REITs”). The Institute previously distributed the uniform file formats to be used by RICs when reporting year-end tax information to brokers and banks. As in prior years, these formats are available on the Institute’s members-only internet home page at http://members.ici.org (“ICINet”).1 The procedures for RICs to access REIT year-end tax information have not changed from last year. ICI member firms on the attached 2002 REIT Year-End Tax Information Password Distribution List will receive an e-mail from Wall Street Concepts (“WSC”) that contains a password.2 This password will enable the recipient to access 2002 REIT year-end tax information on a free internet home page maintained by WSC on behalf of the National Association of Real Estate Investment Trusts (“NAREIT”). A detailed letter prepared by WSC with instructions for accessing its REIT internet home page is attached. If an ICI member firm has not received a password from WSC by the close of business on Friday, November 29th, 2002, the firm should send a password request by e-mail to feuerstein@wsc.com, with a copy to the Institute’s Ezella Wynn (ewynn@ici.org). 1 Those Institute members who have not been issued an ICINet password may receive one by accessing ICINet and completing the ICINet enrollment form. 2 WSC generally will not provide passwords to ICI member firms that are banks, brokers or direct clients of WSC. 2 ICI member firms also may access 2002 REIT year-end tax information on a free internet home page maintained by NAREIT at www.nareit.com.3 No password is required to access the NAREIT internet home page. NAREIT expects to begin posting 2002 REIT year-end tax information after January 17, 2003. Please provide any additions, deletions or corrections to the 2002 REIT Year-End Tax Information Password Distribution List directly to WSC (feuerstein@wsc.com), with a copy to the Institute’s Ezella Wynn (ewynn@ici.org). The Institute will post any changes to the list on ICINet. Specific questions regarding the uniform file layouts for use by RICs in reporting year- end tax information to banks and brokers may be directed to the Institute’s Justine Phoenix (justine@ici.org or 202/326-5850). Deanna J. Flores Associate Counsel Note: Not all recipients receive the attachments. To obtain copies of the attachments, please visit our members website (http://members.ici.org) and search for memo 15357, or call the ICI Library at (202) 326-8304 and request the attachments for memo 15357. Attachment no. 1 (in .pdf format) 3 To access 2002 REIT year-end tax information, log onto www.nareit.com and choose, in order, (1) the “Latest News and General Information” option, (2) “Research and Statistics” option, and (3) “Annual 1099 Data” option. NAREIT will update 2002 REIT year-end tax information on its internet home page as new information becomes available.