Notes: Dec. 23, 2014 -- Vornado Realty Trust announced today that its Board of Trustees approved the spin-off of its subsidiary, Urban Edge Properties (UE), by way of a distribution of all of UE's outstanding common shares to Vornado's common shareholders and to the holders of common limited partnership units of Vornado Realty L.P. (VRLP). Following the distribution, UE will be an independent, publicly-traded company listed on the NYSE under the symbol UE will begin to trade Regular Way on January 16, 2015. Until then it will trade on the NYSE as When Issued. Vornado common shares will continue to trade on the NYSE under the ticker symbol VNO. The distribution of UE common shares is expected to occur on January 15, 2015. Each Vornado common shareholder will be entitled to receive one UE common share for every two Vornado common shares held as of the close of business on January 7, 2015. Vornado and each of the other limited partners of VRLP will be entitled to receive one UE common share for every two common limited partnership units in VRLP held as of the close of business on the Record Date.