Mack-Cali Signs Four Leases Totaling Over 163,000 Square Feet at New Jersey Properties

05/22/2000 Category: Leasing and Development

--New Leases, Expansions and Renewals Include Cisco Systems and DLJdirect --

CRANFORD, NJ—-May 22, 2000--Mack-Cali Realty Corporation (NYSE:CLI) today announced it has signed four leases totaling over 163,000 square feet at its New Jersey properties.

--DLJdirect has leased an additional 66,177 square feet for 11 years at Harborside Financial Center in Jersey City, New Jersey. DLJdirect, an online brokerage subsidiary of Donaldson, Lufkin & Jenrette Securities Corporation, now leases a total of 270,177 square feet at Harborside as its company headquarters. Harborside Financial Center, a 1.9 million square-foot class A office complex, is 100% leased.

--Cisco Systems, the leading provider of networking options for the Internet, has leased the entire 35,973 square-foot building at 1325 Campus Parkway in Monmouth Shores Corporate Park in Wall Township, New Jersey, for five years.

--The law firm Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, P.C. has renewed its lease for 54,931 square feet for 10 years at 150 John F. Kennedy Parkway in Short Hills, New Jersey. The 247,500 square-foot class A office property is 95.9% leased.

--OHM Remediation Services Corporation, an environmental services contractor, has expanded its current lease by 6,710 square feet for a term of 10 years at 200 Horizon Drive in Horizon Center Business Park in Hamilton Township, New Jersey. OHM now leases the entire 45,770 square-foot office/flex property.

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 264 properties, primarily office and office/flex buildings, totaling approximately 28.3 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 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.