This excerpt taken from the LXP 8-K filed Mar 20, 2006.


Lexington operates its business in accordance with the highest ethical standards and in compliance with laws. Lexington places the highest value on the integrity of each of its employees, executive officers, trustees and representatives. All employees, executive officers and trustees must respect and obey the laws of the jurisdictions in which Lexington operates and the rules and regulations applicable to Lexington’s business. Although not all employees, executive officers and trustees are expected to know the details of these laws, rules and regulations, it is important to know enough to determine when to seek advice from an Appropriate Lexington Representative. Compliance with the law does not replace the need to act with the highest honest and ethical standards.

To promote compliance with laws, rules, regulations and the policies of Lexington, including insider trading rules, other securities laws, and anti-discrimination and anti-harassment laws and policies, Lexington has established various compliance policies and procedures and, where appropriate, may conduct information and training sessions.


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