Cali enhanced its dominance in top markets like Jersey City and expanded its reach into a promising new market, suburban Philadelphia.

"Our success in becoming a super- regional REIT stems from a focused, calculated strategy acquisition of high-quality properties in promising markets." Thomas A. Rizk President and Chief Executive Officer

Nineteen ninety-six was a year of explosive growth for Cali Realty Corporation. This impressive growth was the result of a calculated, focused strategy that Cali envisioned when it became a publicly-traded REIT in 1994. Cali's strategy has been to acquire and develop high-quality properties in strong markets where it is or can become the dominant player. Against any measure, Cali successfully implemented this strategy in 1996. By year-end, the Company had increased the size of its portfolio by 82%, from 3.9 million square feet to 7.1 million square feet. With its January 1997 acquisition of the Robert Martin Company, Cali's portfolio today is approximately 11.4 million square feet of space, comprised of 123 properties. By property type, Cali's portfolio consists of primarily eight million square feet of Class A office space, three million square feet of office/flex space, 400,000 square feet of industrial/warehouse space, and 453 multi-family residential units. Cali enhanced its dominance in top markets like Jersey City and expanded its reach into a promising new market, suburban Philadelphia. The Robert Martin transaction provided Cali with an immediate, dominant position in Westchester County, New York, as well as a presence in Fairfield County, Connecticut.