(in thousands, except per share amounts)

                                                                                           Cali Group
						          Cali Realty Corp. Consolidated    Combined
                                                         ________________________________  ___________
				                             Year Ended      Aug.31, 1994  Jan.1, 1994
					                      December 31,	   to	      to
REVENUES                                                1996       1995   Dec.31, 1994  Aug.30, 1994 
____________________________________________________________________________________________________
Base rents	                                         $76,922     $50,808	 $13,805    $26,653
Escalations and recoveries from tenants	                  14,429       9,504	   2,523      5,557
Parking and other	                                   2,204       1,702	     434      1,121
Interest income	                                           1,917	 321	      79        306
____________________________________________________________________________________________________
	Total revenues	                                  95,472      62,335	  16,841      33,637
____________________________________________________________________________________________________



EXPENSES
____________________________________________________________________________________________________
Real estate taxes                    	                   9,395       5,856	   1,680      3,282
Utilities		                                   8,138       6,330       1,522      3,354
Operating services	                                  12,129       8,519	   2,038      4,519     
General and administrative	                           5,800       3,712       1,079      2,288
Depreciation and amortization	                          15,812      12,111	   3,764      5,454
Interest expense	                                  12,677       8,661	   1,768     13,608
Ground rent                                                  -      	 -           -          589
Participation agreement settlement	                     -           -           -          653
____________________________________________________________________________________________________
	Total expenses	                                  63,951      45,189	  11,851     33,747
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Income (loss) before gain on sale of rental property,
	minority interest and extraordinary item	  31,521      17,146       4,990      (110)
Gain on sale of rental property	                           5,658     	 -   -    -
____________________________________________________________________________________________________
Income (loss) before minority interest
	and extraordinary item	                          37,179      17,146	   4,990      (110)
Minority interest	                                   4,760       3,508	   1,051       -
____________________________________________________________________________________________________
Income (loss) before extraordinary item	                  32,419      13,638       3,939      (110)
Extraordinary items - (loss) gain
	(net of minority interest's share of $86 in 1996)   (475)	 -	     -	     11,864
____________________________________________________________________________________________________
Net income	                                         $31,944     $13,638      $3,939    $11,754
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Net income per common share:
Income before extraordinary item -
	loss on early retirement of debt	         $1.76       $1.23	  $0.38
Extraordinary item - loss on early retirement of debt	  (0.03)        -	   -
________________________________________________________________________________________
Net income per common share	                         $1.73       $1.23	  $0.38
_________________________________________________________________________________________
Dividends declared per common share	                 $1.75       $1.66	  $0.54
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Weighted average common shares outstanding	         18,461      11,122	  10,500
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