Supplemental Financial Information September 30, 2007 (Unaudited) Table of Contents Page No. Corporate Profile 1 Statements of Consolidated Income 2 Consolidated Balance Sheets 3 Statements of Consolidated Income at Prorata Share 4 Consolidated Balance Sheets at Prorata Share 5 Summary Operating Data 6 - 7 Funds from Operations Dividends General and Administrative Expenses Net Operating Income Rentals Interest Expense Fee Income From Joint Ventures Property Joint Venture Reporting 8 - 11 Financial Statements of Unconsolidated Joint Ventures at 100% Financial Statements of Unconsolidated Joint Ventures at Prorata Share Investments in Real Estate Joint Ventures Mortgage Debt Information for Real Estate Joint Ventures Summary Balance Sheet Information 12 Common Share Data Capitalization Capital Availability Credit Ratings Debt Information 13 - 14 Outstanding Balance Summary Fixed vs Variable Rate Debt Secured vs Unsecured Debt Coverage Ratios Weighted Average Interest Rates Schedule of Maturities Other Information 15 - 16 Tenant Diversification Lease Expirations Leasing Production Average Minimum Rent per Square Foot Occupancy Property Information 17 - 37 Property Investment Summary Acquisition Summary Disposition Summary New Development Summary Total Operating Income at Prorata Share by Geographic Region Average Base Rents Property Listing This supplemental financial information package contains historical information of the Company. Certain information contained in this Supplemental Financial Information package includes certain forward-looking statements reflecting Weingarten Realty Investors’ expectations in the near term that involve a number of risks and uncertainties; however, many factors may materially affect the actual results, including demand for our properties, changes in rental and occupancy rates, changes in property operating costs, interest rate fluctuations, and changes in local and general economic conditions. Accordingly, there is no assurance that WRI’s expectations will be realized. Corporate Profile Weingarten Realty Investors is an unincorporated trust organized under the Texas Real Estate Investment Trust Act that, through its predecessor entity, began the ownership and development of shopping centers and other commercial real estate in 1948. As of September 30, 2007, we owned or operated under long-term leases, interests in 383 developed income-producing properties and 37 properties that are in various stages of development (including 10 which are income-producing), which are located in 23 states that span the United States from coast to coast. Included in the portfolio are 342 shopping centers, 75 industrial projects, and 3 other operating properties. Our interests in these properties aggregated approximately 50.2 million square feet of leasable area. Our properties were 95.1% leased as of September 30, 2007, and historically our portfolio occupancy rate has never been below 90%. Corporate Office 2600 Citadel Plaza Drive P. O. Box 924133 Houston, TX 77292-4133 713-866-6000 www.weingarten.com Regional Offices Atlanta, GA Austin, TX Dallas, TX Ft. Lauderdale, FL Las Vegas, NV Los Angeles, CA Orlando, FL Phoenix, AZ Raleigh, NC Sacramento, CA Seattle, WA Stock Listings New York Stock Exchange: Common Shares WRI Series D Preferred Shares WRI-PD Series E Preferred Shares WRI-PE Series F Preferred Shares WRI-PF Page 1 Weingarten Realty Investors Statements of Consolidated Income (in thousands, except per share amounts) (as reported) Three Months Ended Nine Months Ended September 30, September 30, Twelve Months Ended December 31, 2007 2006 2007 2006 2006 2005 2004 2003 Revenues: Rentals $ 152,045 $ 137,749 $ 436,353 $ 394,277 $ 533,279 $ 483,449 $ 434,321 $ 356,357 Other 4,565 1,294 9,766 4,719 6,926 6,236 8,252 6,645 Total 156,610 139,043 446,119 398,996 540,205 489,685 442,573 363,002 Expenses: Depreciation and amortization 33,882 30,886 98,042 89,834 121,769 111,296 98,877 78,271 Operating 28,156 23,000 76,534 61,636 88,543 73,595 69,009 56,319 Ad valorem taxes 20,163 18,857 53,195 49,319 62,804 56,355 49,855 40,656 General and administrative 6,537 5,497 19,650 16,500 23,801 17,379 16,122 13,820 Impairment loss 3,550 Total 88,738 78,240 247,421 217,289 296,917 258,625 237,413 189,066 Operating Income 67,872 60,803 198,698 181,707 243,288 231,060 205,160 173,936 Interest Expense (38,536) (37,384) (110,384) (105,920) (145,652) (129,448) (116,243) (90,214) Interest and Other Income 2,082 2,787 6,838 4,818 9,044 2,860 1,389 1,562 Loss on Redemption of Preferred Shares (3,566) (2,739) Equity in Earnings of Joint Ventures, net (a) 4,893 2,253 12,513 10,866 14,655 6,610 5,384 4,681 Income Allocated to Minority Interests (3,003) (1,676) (7,678) (4,977) (6,414) (6,060) (4,928) (2,723) Gain on Sale of Properties 986 26,871 3,010 26,974 22,493 22,306 1,562 667 Gain on Land and Merchant Development Sales 4,199 4,504 8,150 6,180 7,166 804 Provision for Income Taxes (930) (1,253) (1,933) (1,401) (1,366) Income From Continuing Operations 37,563 56,905 109,214 118,247 143,214 128,132 88,758 85,170 Operating Income From Discontinued Operations 416 3,456 2,527 13,796 16,302 26,062 27,740 25,073 Gain on Sale of Properties From Discontinued Operations 6,284 45,388 59,684 118,581 145,494 65,459 24,883 6,037 Income From Discontinued Operations 6,700 48,844 62,211 132,377 161,796 91,521 52,623 31,110 Net Income 44,263 105,749 171,425 250,624 305,010 219,653 141,381 116,280 Preferred Share Dividends (5,982) (2,526) (16,485) (7,576) (10,101) (10,101) (7,470) (15,912) Redemption Cost of Series A Preferred Shares (2,488) Net Income Available to Common Shareholders $ 38,281 $ 103,223 $ 154,940 $ 243,048 $ 294,909 $ 209,552 $ 133,911 $ 97,880 Net Income Per Common Share - Basic $ 0.45 $ 1.19 $ 1.80 $ 2.75 $ 3.36 $ 2.35 $ 1.55 $ 1.24 Net Income Per Common Share - Diluted $ 0.44 $ 1.15 $ 1.77 $ 2.67 $ 3.27 $ 2.31 $ 1.54 $ 1.24 (a) See Page 8 for the Company's prorata share of the operating results of its unconsolidated joint ventures. Page 2 Weingarten Realty Investors Consolidated Balance Sheets (in thousands, except per share amounts) (as reported) September 30, December 31, 2007 2006 ASSETS Property $ 4,852,683 $ 4,445,888 Accumulated Depreciation (750,676) (707,005) Property Held for Sale 6,012 Property - net 4,108,019 3,738,883 Investment in Real Estate Joint Ventures (a) 297,397 203,839 Total 4,405,416 3,942,722 Notes Receivable from Real Estate Joint Ventures and Partnerships 61,537 3,971 Unamortized Debt and Lease Costs 115,208 112,873 Accrued Rent and Accounts Receivable (net of allowance for doubtful accounts of $7,868 in 2007 and $5,995 in 2006) 77,811 78,893 Cash and Cash Equivalents 59,815 71,003 Restricted Deposits and Mortgage Escrows 28,991 94,466 Other 135,644 71,612 Total $ 4,884,422 $ 4,375,540 LIABILITIES AND SHAREHOLDERS' EQUITY Debt $ 3,055,545 $ 2,942,692 Accounts Payable and Accrued Expenses 139,496 132,821 Other 85,906 86,566 Total 3,280,947 3,162,079 Minority Interest 96,710 87,680 Commitments and Contingencies Shareholders' Equity: Preferred Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 10,000 6.75% Series D cumulative redeemable preferred shares of beneficial interest; 100 shares issued and outstanding in 2007 and 2006; liquidation preference $75,000 3 3 6.95% Series E cumulative redeemable preferred shares of beneficial interest; 29 shares issued and outstanding in 2007; and 2006; liquidation preference $72,500 1 1 6.5% Series F cumulative redeemable preferred shares of beneficial interest; 80 shares issued and outstanding in 2007; liquidation preference $200,000 2 Variable-rate Series G cumulative redeemable preferred shares of beneficial interest, 80 shares issued and outstanding in 2007; liquidation preference $200,000 2 Common Shares of Beneficial Interest - par value, $.03 per share; shares authorized: 150,000; shares issued and outstanding: 85,063 in 2007 and 85,765 in 2006 2,563 2,582 Additional Paid in Capital 1,489,303 1,136,481 Net Income in Excess of (Less Than) Accumulated Dividends 26,479 (786) Accumulated Other Comprehensive Loss (11,588) (12,500) Shareholders' Equity 1,506,765 1,125,781 Total $ 4,884,422 $ 4,375,540 (a) This represents the Company's investment of its unconsolidated joint ventures. See page 8 for additional information. Page 3 Weingarten Realty Investors Statements of Consolidated Income at Prorata Share (in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, Twelve Months Ended December 31, 2007 2006 2007 2006 2006 2005 2004 2003 Revenues: Rentals $ 161,082 $ 140,208 $ 459,129 $ 400,426 $ 543,190 $ 488,426 $ 436,600 $ 357,373 Other 4,353 1,767 9,832 5,397 7,710 6,412 8,012 6,825 Total 165,435 141,975 468,961 405,823 550,900 494,838 444,612 364,198 Expenses: Depreciation and amortization 36,171 31,255 103,446 90,715 123,480 111,548 98,770 76,796 Operating 28,815 23,315 78,085 62,081 88,828 73,538 69,025 56,279 Ad valorem taxes 21,129 19,100 55,845 49,811 63,449 56,772 49,999 40,888 General and administrative 6,565 5,510 19,746 16,537 23,902 17,436 16,125 13,821 Impairment loss 3,550 Total 92,680 79,180 257,122 219,144 299,659 259,294 237,469 187,784 Operating Income 72,755 62,795 211,839 186,679 251,241 235,544 207,143 176,414 Interest Expense (40,055) (37,700) (114,574) (106,081) (146,428) (128,558) (114,586) (89,917) Interest and Other Income 3,378 3,129 10,011 5,765 10,686 3,635 2,553 3,615 Loss on Redemption of Preferred Shares (3,566) (2,739) Income Allocated to Minority Interests (1,155)