Mack-Cali Realty Corporation Declares Second Quarter Cash Dividend

Business Wire, June 17, 1999

CRANFORD, N.J.--(BUSINESS WIRE)--June 17, 1999--

Mack-Cali Realty Corporation (NYSE:CLI) today announced that its Board of Directors has declared a second quarter cash dividend of $0.55 per share (indicating an annual rate of $2.20 per share) for the period April 1, 1999 through June 30, 1999. The dividend will be paid on July 23, 1999 to shareholders of record as of July 6, 1999.

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 254 properties, primarily office and office/flex buildings, totaling approximately 28.1 million square feet located in 12 states and the District of Columbia. The properties, which are primarily located in the Northeast, enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,400 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's Web site at http://www.mack-cali.com.