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Press Release

Cali Realty Corporation Declares Second Quarter Cash Dividend


CRANFORD, NJ--June 19, 1995--Cali Realty Corporation, a real estate investment trust (NYSE:CLI), today announced its second quarter cash dividend of $0.4038 per share (an indicated annual rate of $1.615 per share) for the period April 1, 1995 through June 30, 1995. The dividend will be paid on July 21, 1995 to shareholders of record as of July 6, 1995.

Cali Realty Corporation owns and manages approximately 2.65 million square feet of commercial office space and a 327 unit residential property in Northern and Central New Jersey and Rockland County New York.




Barry Lefkowitz

Executive Vice President and Chief Financial Officer

Mack-Cali Realty Corporation

T: 732.590.1000

blefkowitz@mack-cali.com

or

Ilene Jablonski

Vice President of Marketing

Mack-Cali Realty Corporation

T: 732.590.1000

ijablonski@mack-cali.com

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