Mack-Cali Realty Corporation Announces Tax Treatment Of 2000 Dividends

01/09/2001 Category: Dividends

CRANFORD, NEW JERSEY -- January 9, 2001 -- Mack-Cali Realty Corporation (NYSE: CLI) today announced the tax treatment of its 2000 dividends. The Company's total distribution of $2.35 per share of Common Stock (CUSIP #554489-10-4) is to be classified for income tax purposes as follows:

------------------------------------------------------------------                         CASH      TAXABLE    TOTAL   UNRECAPTURED RECORD    PAYMENT   DISTRIBUTION  ORDINARY  CAPITAL  SECTION 1250  DATE      DATE      PER SHARE    DIVIDEND    GAIN      GAIN (*)------------------------------------------------------------------01/04/00    01/21/00    $0.5800     $0.5405   $0.0395   $0.007404/05/00    04/24/00     0.5800      0.5405    0.0395    0.007407/06/00    07/24/00     0.5800      0.5405    0.0395    0.007410/04/00    10/23/00     0.6100      0.5685    0.0415    0.0078------------------------------------------------------------------Totals                  $2.3500     $2.1900   $0.1600   $0.0300------------------------------------------------------------------

* Included in Total Capital Gain

The above includes four quarterly dividends, all of which are fully taxable. The fourth quarter 2000 distribution being made to holders of record as of January 4, 2001 is considered a 2001 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 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.2 million square feet. The properties 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, or by calling the Company's investor relations department at 908.272.8000, extension 2484.

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.