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Stock Trading History of Millspaugh M Laurence Iii

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Millspaugh M Laurence Iii since year 2005. The trader's CIK number is 1238608. At the time of this reporting, Millspaugh M Laurence Iii is the Vice President-Acquis. & Dev. of Saul Centers Inc (stock ticker symbol BFS).

Stock purchases, sales, and option exercises reported by *Millspaugh M Laurence Iii* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2006-03-28	BFS	Saul Centers Inc	Option Exercise	4,000	24.91	99,640
2006-03-28	BFS	Saul Centers Inc	Sale	4,000	42.52	170,080
2006-03-09	BFS	Saul Centers Inc	Sale	3,500	40.44	141,547
2006-03-09	BFS	Saul Centers Inc	Option Exercise	3,500	24.91	87,185

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Millspaugh M Laurence Iii (Vice President-Acquis. & Dev. of Saul Centers Inc at the time of this reporting) see the Securities and Exchange Commission (SEC) website.