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The following is an excerpt from a 10-K SEC Filing, filed by ARVIDA JMB PARTNERS L P on 3/30/2001.
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ALP LIQUIDATING TRUST - 10-K - 20010330 - CASH_FLOW
                                             ARVIDA/JMB PARTNERS, L.P.
                                              (A LIMITED PARTNERSHIP)
                                             AND CONSOLIDATED VENTURES

                                       CONSOLIDATED STATEMENTS OF CASH FLOWS

                               FOR THE YEARS ENDED DECEMBER 31, 2000, 1999 AND 1998

                                                                2000             1999              1998
                                                            ------------     ------------      ------------
Operating activities:
  Net income . . . . . . . . . . . . . . . . . . . . .      $ 70,031,711       73,998,442        65,862,245
  Charges (credits) to net income not
   requiring (providing) cash:
    Depreciation and amortization. . . . . . . . . . .         3,189,586        3,390,613         3,709,561
    Equity in earnings of unconsolidated ventures. . .          (275,580)      (1,083,804)         (335,893)
    Provision for doubtful accounts. . . . . . . . . .            44,512           21,109            32,536
    Gain on sale of joint venture interest . . . . . .             --          (3,161,725)         (450,546)
    Gain on sale of operating properties and
      of property and equipment. . . . . . . . . . . .          (182,702)      (5,991,038)      (22,298,796)
    Inventory impairment (note 14) . . . . . . . . . .             --           1,000,000             --
    Extraordinary gain on extinguishment of debt . . .        (6,205,044)           --                --
  Changes in:
    Restricted cash. . . . . . . . . . . . . . . . . .        (9,245,214)        (462,899)         (893,155)
    Trade and other accounts receivable. . . . . . . .        23,397,815      (13,437,804)          425,322
    Real estate inventories:
      Additions to real estate inventories . . . . . .      (236,745,158)    (233,948,741)     (196,086,427)
      Cost of revenues . . . . . . . . . . . . . . . .       272,002,613      239,424,771       207,240,063
      Capitalized interest . . . . . . . . . . . . . .        (2,092,739)      (3,663,552)       (6,020,204)
      Capitalized real estate taxes. . . . . . . . . .        (2,881,709)      (1,901,589)       (2,632,163)
    Equity memberships . . . . . . . . . . . . . . . .         1,667,120          488,390         2,005,223
    Amounts due from affiliates, net . . . . . . . . .           165,107          788,527          (773,556)
    Prepaid expenses and other assets. . . . . . . . .        (3,215,119)         341,696            23,412
    Accounts payable, accrued expenses and
      other liabilities. . . . . . . . . . . . . . . .        (5,449,475)       8,612,560         3,313,431
    Deposits . . . . . . . . . . . . . . . . . . . . .         4,391,616        2,049,060         5,725,292
                                                            ------------     ------------      ------------
          Net cash provided by operating activities. .       108,597,340       66,464,016        58,846,345
                                                            ------------     ------------      ------------

                                             ARVIDA/JMB PARTNERS, L.P.
                                              (A LIMITED PARTNERSHIP)
                                             AND CONSOLIDATED VENTURES

                                 CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED



                                                                2000             1999              1998
                                                            ------------     ------------      ------------
Investing activities:
  Acquisitions of property and equipment and
    construction in progress . . . . . . . . . . . . .       (17,149,614)      (1,525,360)       (3,049,364)
  Proceeds from sales of property and equipment. . . .         1,562,045       10,445,656        30,330,922
  Joint venture distributions (contributions),
    net. . . . . . . . . . . . . . . . . . . . . . . .           319,225        1,216,560           167,931
  Proceeds from the sale of joint venture
    interests. . . . . . . . . . . . . . . . . . . . .             --           3,700,000         1,521,162
                                                            ------------     ------------      ------------

          Net cash (used in) provided by
            investing activities . . . . . . . . . . .       (15,268,344)      13,836,856        28,970,651
                                                            ------------     ------------      ------------
Financing activities:
  Proceeds from notes and long-term borrowings . . . .        11,356,785        2,327,684         8,834,318
  Repayments of notes and long-term borrowings . . . .       (27,500,000)     (18,105,287)      (40,628,521)
  Distributions to General Partner and
    Associate Limited Partners . . . . . . . . . . . .       (21,691,765)      (3,930,998)       (2,807,724)
  Distributions to Holders of Interests. . . . . . . .       (58,479,921)     (70,730,645)      (50,522,705)
                                                            ------------     ------------      ------------
          Net cash used in financing
            activities . . . . . . . . . . . . . . . .       (96,314,901)     (90,439,246)      (85,124,632)
                                                            ------------     ------------      ------------
          Increase (decrease) in cash and
            cash equivalents . . . . . . . . . . . . .        (2,985,905)     (10,138,374)        2,692,364
          Cash and cash equivalents,
            beginning of year. . . . . . . . . . . . .        71,965,185       82,103,559        79,411,195
                                                            ------------     ------------      ------------
          Cash and cash equivalents,
            end of year. . . . . . . . . . . . . . . .      $ 68,979,280       71,965,185        82,103,559
                                                            ============     ============      ============







              The accompanying notes are an integral part of these consolidated financial statements.

BROKERAGE PARTNERS