Mack-Cali Announces New Lease at Harborside Financial Center

07/24/2008 Category: Leasing and Development

Arch Insurance Company Leases Over 106,000 Square Feet at Harborside Financial Center
in Jersey City

Edison, New Jersey—July 24, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Arch Insurance Company has leased 106,815 square feet at Harborside Financial Center Plaza 3 on the Jersey City waterfront. The lease carries a term of 15 years.

Arch Insurance Company, a division of Arch Capital Group Ltd., is a provider of property, casualty and specialty insurance. Harborside Financial Center is a mixed-use complex with five class A office buildings totaling 3.1 million square feet. The office buildings are 99.6% leased.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "This transaction demonstrates Mack-Cali's ability to attract high-caliber businesses to our class A properties. We are pleased to welcome Arch." He added, "Harborside Financial Center continues to be an attractive office location for leading businesses due to its abundant amenities, excellent transportation access, and significant financial benefits."

Mark Ravesloot, Paul M. Jacobs, Colin Reilly, Scott Sloves, David Opper and Michael Monahan of CB Richard Ellis represented the tenant in the transaction.

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 294 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.7 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 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," "plan," "should," "expect," "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 heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.