Mack-Cali Signs Three Leases Totaling Over 120,000 Square Feet at New Jersey Office Properties

07/31/2000 Category: Leasing and Development

CRANFORD, NEW JERSEY--July 31, 2000--Mack-Cali Realty Corporation (NYSE:CLI) today announced it has signed three leases totaling over 120,000 square feet at three of its New Jersey office properties.

--Cap Gemini Ernst & Young U.S., a management and information technology consulting firm, has leased 23,670 square feet for five years at Mack-Cali's 100 Walnut Avenue in Clark, New Jersey, which represents an expansion of its current space. Cap Gemini Ernst & Young now occupies a total of 98,275 square feet. The 182,555 square-foot property is currently 100 percent leased.

--Xerox Corporation, a leader in document processing products, systems and services, has renewed its lease of 34,901 square feet for 10 years at Mack-Cali's 100 Overlook Center in Princeton, New Jersey. The 149,600 square-foot property is currently 100 percent leased.

--Integrated Communications, a pharmaceutical advertising and marketing company, has signed a 61,984 square-foot lease renewal at Mack-Cali's 5 Sylvan Way in Morris County Financial Center in Parsippany, New Jersey for five years. The 153,383 square-foot property is currently 96.8 percent leased.

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 267 properties, primarily office and office/flex buildings, totaling approximately 28.5 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, reports on Form 8-K, and annual reports on Form 10-K.