Company Century Realty Trust

Century Realty Trust (the Trust) is engaged in the ownership of income producing real properties, which consist of 13 apartment complexes, one restaurant property, three commercial properties and various parcels of undeveloped land, which are situated adjacent to rental properties owned by the Trust. The Trust's investment options, in addition to direct equity ownership, include the control of real estate through the use of operating partnerships. Five of the Trust's 13 apartment properties are owned by operating partnerships. The Trust's rental income is derived from short-term leases of units in its various buildings. The residential properties and two of the three commercial properties are managed under agreements with independent property management firms.