$300-millioncash tender offer announced earlier this month, and hasaccepted for purchase the $100.3-million principal amount of its7.25% senior unsecured notes, due March 15, 2009. The tender offerwas rolled out by the company's Mack-Cali Realty LP, and the notesaccepted for present amount to approximately 33.4% of theoutstanding notes.

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"The consideration to be paid for each $1,000-principal amountof notes accepted for payment will be $1,000 for notes validlytendered and not withdrawn at or prior to the expiration time,"reads a statement issued by the company. "In addition, eachtendering holder…will be paid accrued and unpaid interest…from thelast interest payment date up to but not including the paymentdate. The aggregate consideration…including accrued and unpaidinterest is expected to be approximately $101.5 million."

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JP Morgan Securities Inc. was the dealer manager for the tenderoffer, and payment for the purchased notes is slated for thisweek.

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