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Press Release

Mack-Cali Realty Corporation Announces Second Quarter 2001 Earnings Call

Conference Call August 9, 2001 11:00 A.M. Eastern Time

Mack-Cali Realty Corporation (NYSE: CLI) will release its second quarter 2001 earnings results before the opening of the market on Thursday, August 9, 2001 and will also host a conference call with management at 11:00 a.m. Eastern Time.

You may listen to the live conference call via the Internet by going to the Mack-Cali website at http://www.mack-cali.com, and clicking on the Second Quarter earnings announcement link which, will take you to a site that will provide online instructions to access the call.

The live conference call is also accessible via telephone access by dialing 719.457.2637, and identifying yourself as a participant on the Mack-Cali Realty second quarter earnings conference call.

It is recommended that you log-on or dial-in to the call approximately 10 minutes prior to the scheduled start time.

If you are unable to participate in the conference call at its scheduled time, a rebroadcast of the live call and online instructions to access the replay will be available from 2:00 p.m. EST on August 9, 2001 through midnight EST on August 23, 2001 on the home page of Mack-Cali's website — http://www.mack-cali.com. A replay of the live call will also be accessible via telephone beginning at 2:00 p.m. EST through midnight EST on August 16, 2001 by dialing 719.457.0820, and using the pass code, 451563.

If you have any questions, please contact the Investor Relations Department at 908.272.8000, extension 2484.

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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