STEVEN ROTH Chairman of the Board Managing Partner, Interstate Properties MICHAEL D. FASCITELLI President ROBERT P. KOGOD DAVID M. MANDELBAUM Partner, Interstate Properties STANLEY SIMON* Principal, Stanley Simon and Associates, Management and Financial Consultants ROBERT H. SMITH Chairman of Charles E. Smith Commercial Realty, a division of Vornado Realty Trust RONALD G. TARGAN* President, Malt Products Corporation RICHARD R. WEST* Dean Emeritus, Leonard N. Stern School of Business, New York University RUSSELL B. WIGHT, JR. Partner, Interstate Properties   * Members of the Audit Committee     STEVEN ROTH Chairman of the Board and Chief Executive Officer MICHAEL D. FASCITELLI President MELVYN H. BLUM Executive Vice President– Development ANTHONY COSSENTINO Acting Chief Executive Officer and Senior Vice President– Chief Financial Officer Temperature Controlled Logistics MICHELLE FELMAN Executive Vice President– Acquisitions DAVID R. GREENBAUM President of the New York Office Division CHRISTOPHER KENNEDY President of the Merchandise Mart Division JOSEPH MACNOW Executive Vice President– Finance and Administration and Chief Financial Officer SANDEEP MATHRANI Executive Vice President– Retail Real Estate Division MITCHELL N. SCHEAR President of Charles E. Smith Commercial Realty, a division of Vornado Realty Trust WENDY SILVERSTEIN Executive Vice President– Capital Markets EXECUTIVE OFFICES 888 Seventh Avenue New York, New York 10019 INDEPENDENT AUDITORS Deloitte & Touche LLP Parsippany, New Jersey GENERAL COUNSEL Sullivan & Cromwell New York, New York TRANSFER AGENT AND REGISTRAR Wachovia Bank, N.A. Charlotte, North Carolina REPORT 10-K Shareholders may obtain a copy of the Company's annual report on Form 10-K as filed with the Securities and Exchange Commission free of charge (except for exhibits), by writing to the Secretary, Vornado Realty Trust, 888 Seventh Avenue, New York, New York 10019; or, visit the Company's website at www.vno.com and refer to the Company's SEC Filings. ANNUAL MEETING The annual meeting of shareholders of Vornado Realty Trust, will be held at 12:30 PM on Thursday, May 27, 2004 at the Marriott Hotel, Interstate 80 and the Garden State Parkway, Saddle Brook, New Jersey 07663.