Mack-Cali Realty Corporation Announces Tax Treatment of 1999 Dividends

01/18/2000 Category: Dividends

CRANFORD, NEW JERSEY -- January 18, 2000 -- Mack-Cali Realty Corporation (NYSE: CLI) today announced the tax treatment of its 1999 dividends. The CompanyĆ­s total distribution of $2.23 per share of Common Stock (CUSIP #554489-10-4) is to be classified for income tax purposes as follows:


01/06/99 1/26/99 $0.5500 $0.5402 $0.0098 $0.0049
04/06/99 4/23/99 0.5500 0.5402 0.0098 0.0049
07/06/99 7/23/99 0.5500 0.5402 0.0098 0.0049
10/05/99 10/22/99 0.5800 0.5694 0.0106 0.0053

Totals $2.2300 $2.1900 $0.0400 $0.0200

* Included in Total Capital Gain

The above includes four quarterly dividends, all of which are fully taxable. The fourth quarter 1999 distribution being made to holders of record as of January 4, 2000 is considered a 2000 distribution for federal income tax purposes. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Mack-Cali Realty Corporation dividends.

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 258 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

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 different 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 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 on Form 8-K, and annual reports on Form 10-L.