Mack-Cali Announces New Lease with Aetna at Princeton Building

03/20/2008 Category: Leasing and Development

Edison, New Jersey—March 20, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Aetna Life Insurance Company has signed a new seven-year lease for 41,766 square feet at 3 Independence Way in Princeton, New Jersey.

The 111,300 square-foot class A office building, located at Princeton Corporate Center, is 88.3 percent leased. Aetna (NYSE: AET) is a diversified health care benefits company.

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 Aetna to our Princeton portfolio and look forward to serving its long-term office space needs."

Jonathan Meisel of Jones Lang LaSalle Americas, Inc. represented the tenant. Mack-Cali was represented in-house by Jack Colasurdo, senior director of leasing, and Erin Moran, leasing associate.

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.