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Mack-Cali Announces New Lease With Leading Insurance Provider At Harborside Financial Center

EDISON, N.J., April 2, 2012 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE: CLI) today announced that Tower Insurance Company of New York has signed a new 10-year, 11-month 76,892-square-foot lease at Harborside Financial Center in Jersey City.

Tower Insurance Company, one of the largest providers of property and casualty insurance products and services in the country, will occupy space at Harborside Plaza 2, a 761,200-square-foot class A office building. Harborside Financial Center is a "city within a city," comprised of five state-of-the-art class A office buildings totaling 3.1 million square feet, retail shops, a variety of dining options, planned luxury multi-family rental towers, and land—providing an ideal development opportunity. The complex is currently 97.3 percent leased. The tenant was represented in the transaction by Mark Ravesloot, Scott Sloves, and David Opper, all of CB Richard Ellis.

Mitchell E. Hersh, Mack- Cali president and chief executive officer, commented, "We are delighted to welcome Tower Insurance Company to our portfolio of class A office properties. 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."         

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 277 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.2 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,000 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," "potential," "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.

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