Mack-Cali Realty Corporation Announces Finalization of Proxy Materials for Notification of Annual Meeting

08/08/2000 Category: Financial

CRANFORD, NEW JERSEY — August 8, 2000 — Mack-Cali Realty Corporation (NYSE: CLI) today announced that the Company intends to mail its Definitive Proxy Statement pursuant to Section 14(a) of the Securities Exchange Act of 1934, and Proxy Card on Friday, August 11, 2000 for shareholder voting.

All shareholders of record, as of July 24, 2000, are entitled to vote at the Annual Meeting of Stockholders being held on Monday, September 11, 2000 at 3:00 p.m. Eastern Time, at The Marriott at Glenpointe, 100 Frank W. Burr Boulevard in Teaneck, New Jersey.

The following measures will be voted on at the Annual Meeting:

-- To elect five persons to the Board of Directors of the Company, each to serve a three-year term or until their respective successors are elected and qualified.

-- To consider and vote upon a proposal to ratify the appointment of PricewaterhouseCoopers LLP, independent accountants, as the Company's independent accountants for the ensuing year.

-- To consider and vote upon a proposal to approve and adopt the 2000 Employee Stock Option Plan.

-- To consider and vote upon a proposal to approve and adopt the 2000 Director Stock Option Plan.

Mack-Cali Realty Corporation is a fully-integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 266 properties, primarily office and office/flex buildings, totaling approximately 28.4 million square feet, located in 12 states and the District of Columbia. The properties, which are primarily located in the Northeast, enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,400 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's website at http://www.mack-cali.com.

Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Federal Securities law. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office, office/flex and industrial/warehouse properties; interest rate levels; the availability of financing; and other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, and annual reports on Form 10-K.