EDISON, NJ – The board of directors of Mack-Cali Realty Corp. has voted to declare a cash dividend of $0.64 per common share, indicating an annual rate of $2.56 per common share, for the period April 1, 2007 through June 30, 2007. The dividend will be paid on July 16, 2007 to shareholders of record as of July 5, 2007.

The REIT’s board has also declared a cash dividend on the company’s 8% Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock) equal to $0.50 per depositary share for the period April 15, 2007 through July 14, 2007. The dividend will similarly be paid on July 16, 2007 to shareholders of record as of July 5, 2007.

Mack-Cali currently owns or has interests in 302 properties, primarily office and office/flex buildings in the Northeast, totaling 34.8 million sf. The company has a roster of approximately 2,200 tenants.

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