FALCON FINL INVT TR

CUSIP: 306032103 Class: COM

TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA's Holding History (CIK: 0000315038)

Note: Option positions (PUT/CALL) are excluded.

Q4 2004

Shares 413,873 Value ($000) $2,897 Avg Close — Range —

Q3 2004

Shares 400,000 Value ($000) $3,236 Avg Close — Range —

Q2 2004

Shares 400,000 Value ($000) $3,120 Avg Close — Range —

Q1 2004

Shares 400,000 Value ($000) $3,716 Avg Close — Range —

Q4 2003

Shares 400,000 Value ($000) $3,920 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2004	413,873	$2,897	—	—
Q3 2004	400,000	$3,236	—	—
Q2 2004	400,000	$3,120	—	—
Q1 2004	400,000	$3,716	—	—
Q4 2003	400,000	$3,920	—	—