Phillips Edison and Company (PECO) has been an excellent steward of its investors' capital. PECO's Family of Funds has provided unique opportunities to invest with one of the nation's leading private real estate operating companies in the top-performing real estate sector of anchored retail centers. Opportunities exist for value creation, typically through the turnaround of under-performing assets or ground-up development. Phillips Edison excels at value creation by employing a superior operating platform with a national presence.

Since inception, investors have committed more than $770 million of equity in PECO's Family of Funds, including:

PECO Opportunity Fund (Fund I), formed in 2000, raised $20 million from more than 125 accredited investors. Fund I was used to acquire a portfolio of 14 value-added, anchored community shopping centers.

PECO Opportunity Fund II (A), formed in 2002, raised $30 million from more than 200 accredited investors. Over 85% of the Fund I investors recommitted to Fund II.

PECO Opportunity Fund II (B), formed in 2003, raised $30 million in conjunction with the acquisition of AEGIS Realty, a public REIT, for $180 million. Fund II was used to acquire a portfolio of 33 value-added, anchored community shopping centers.

Phillips Edison Convertible Debt, formed in 2004, raised $44 million from 50 accredited investors to provide capital for the consolidation of Phillips Edison Limited Partnership and future acquisition.

Phillips Edison Shopping Center Fund III, formed in 2005 with Deutsche Bank as the placement agent, raised $275 million from domestic and international institutional investors, including Phillips Edison's investment of $23 million as a limited partner. Fund III was used to acquire a billion-dollar portfolio of 116 value-added, anchored community shopping centers, encompassing over 12 million square feet.

Phillips Edison Strategic Investment Fund I, formed in 2007 with PECO Capital as the placement agent, raised $70 million of equity from 173 accredited investors, including $14 million committed by Phillips Edison and Phillips Edison Associates. The Strategic Investment Fund I is targeting distressed developments and loans to acquire retail and mixed-use assets of 150,000 square feet or more, as well as development joint ventures in strategic growth markets.

Phillips Edison Shopping Center Fund IV, formed in 2008 with PECO Capital as the placement agent, raised $301 million from domestic and international institutional investors, including Phillips Edison's investment of $25 million as a limited partner. Fund IV is aquiring value-added anchored community shopping centers.

New in 2010: Phillips Edison will be raising Strategic Investment Fund II targeting $100 million.

SIGRID CAMPBELL
VICE PRESIDENT, PECO CAPITAL
(513) 619-5051
scampbell@phillipsedison.com

NICOLE METHENA
DIRECTOR, PECO CAPITAL
(513) 619-5047
nmethena@phillipsedison.com