Cedar Income Fund Ltd - CEDR- Profile

Cedar Income Fund Ltd. The Groups principal activities are to own, operate and redevelop community and neighborhood shopping centers. The Group focuses its investment activities on community and neighborhood shopping centers, primarily located in Pennsylvania and New Jersey, anchored principally by regional and national grocery store chains. As of December 31, 2002, the Group owned seven shopping center properties. The Group operates as a REIT under applicable provisions of the Internal Revenue Code.