Mack-Cali Announces Lease Renewal with The Ayco Company at Parsippany Building

03/03/2009 Category: Leasing and Development

Edison, New Jersey—March 3, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced that The Ayco Company L.P. has signed a 10-year and three-month renewal for 34,035 square feet at 8 Campus Drive in Parsippany, NJ.

The Ayco Company provides financial counseling and education services for corporate executives and employees as well as high-net-worth individuals and families.

Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "In this challenging economic environment, one of our top priorities is to maintain strong, long-lasting relationships with valued tenants. We're delighted that The Ayco Company has chosen to renew with Mack-Cali."

8 Campus Drive is a 215,265-square-foot class A office building in Mack-Cali Business Campus that is 100 percent leased. Jonathan Meisel of Jones Lang LaSalle represented the tenant, and Mack-Cali was represented in-house by Diane Chayes, vice president of leasing.

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 293 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.5 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's website at www.mack-cali.com.

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.