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Press Release

Mack-Cali to Announce First Quarter 2001 Earnings Results

Conference Call Scheduled for May 10, 2001 at 11:00 AM EST

Mack-Cali Realty Corporation (NYSE: CLI) will release its first quarter 2001 earnings results before the opening of the market on Thursday, May 10, 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 1st 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 719.457.2629, and identifying yourself as a participant on the Mack-Cali Realty first 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, there will be a rebroadcast, immediately following the live call on the home page of Mack-Cali's website -- http://www.mack-cali.com, and will be available through midnight on May 24, 2001 -- follow the online instructions to access the replay. Beginning at 2:00 p.m. Eastern Time on May 10, 2001, through midnight Eastern Time on May17, you may also access a replay of the live call by dialing 719.457.0820, and using the pass code, 575360.

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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