From the Company's impact on property acquisitions to

its recognized management expertise, Cali continues to pride

itself on being at the forefront of the industry.


Nineteen ninety-six clearly demonstrated Cali's position as an industry leader. From the Company's impact on property acquisitions to its recognized management expertise, Cali continues to pride itself on being at the forefront of the industry.

Since becoming New Jersey's first publicly-traded office REIT, the Company has both hastened and defined the dynamics of the state's commercial real estate market. Due to its ability to quickly access significant capital via the financial markets, Cali has increased the size, certainty and speed of real estate transactions. This in turn has raised the industry's expectations and provided Cali with further competitive advantages, as indicated by its acquisitions activity in 1996.

Public Outreach

From giving an expert opinion to The New York Times to posting its 10-K on the Internet, Cali continues to demonstrate its commitment to open communications with its key shareholders, tenants and real estate brokers. In 1996, Cali Realty Corporation and its executives were cited in hundreds of newspaper and magazine articles, gave numerous public speeches, inaugurated a new tenant newsletter, and entered cyberspace with a site on the World Wide Web.

By accessing Cali's Web site at http://www.calirealty.com, shareholders and others can get instant information on Cali's acquisition activity, property portfolio, financial reports and other Company news.

Specific Web site applications include:

• Shareholder information with an SEC/Edgar database link for financial reports, a list of analysts covering Cali, current stock price, and the annual report.

• Up-to-date press releases on acquisitions, earnings, dividends and other Company activities.

• Brief history of the Company.

• Portfolio information including property photographs, maps and floor plans.

• The Company's acquisition record since its initial public offering.

• E-mail contact forms for additional information on leasing, acquisitions and investor relations.