Mack-Cali Announces Lease Expansion and Extension with Merrill Lynch

12/14/2006 Category: Leasing and Development

Edison, New Jersey—December 14, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Merrill Lynch & Co., Inc. has expanded and extended its lease and will now occupy 236,350 square feet of space on a long-term basis at 101 Hudson Street in Jersey City, New Jersey.

101 Hudson Street is a 1.25 million square-foot class A waterfront office tower that is 100% leased.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "This transaction is in line with our strategy of building successful, long-term relationships with our tenants, and demonstrates the Jersey City waterfront's strong appeal to high-caliber companies such as Merrill Lynch."

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 currently owns or has interests in 301 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.3 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,500 tenants. Additional information on Mack-Cali Realty Corporation is available on the Company's website at

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the headings "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.