ROSELAND, N.J., JULY 10, 2007 - The Gale Real Estate Services Company, a subsidiary of Mack-Cali Realty Corporation (NYSE: CLI), has announced plans for a new spec office building to be developed in The Center of Morris County campus in Parsippany, N.J. One Jefferson Road will consist of a three-story Class-A office building encompassing 100,000 square feet of headquarters- quality space. The spec office building will commence construction in August 2007, and be ready for tenant occupancy in the third quarter of 2008.

One Jefferson Road follows the successful 100 Kimball Drive development, where Gale recently announced a long-term lease with Deloitte & Touche USA for 160,000 square feet. When the development of 100 Kimball Drive was delivered in April 2007, the 175,000 square-foot building was the first spec office building developed in Morris County in several years.

The Gale Real Estate Services Company is managing and leasing One Jefferson Road on behalf of the ownership group, which is comprised of a joint venture partnership with a commingled fund advised by JP Morgan Investment Management, The Hampshire Companies and Mack-Cali Realty Corporation. The Gale Construction Company, LLC, will construct the building on behalf of the ownership.

Mark Yeager, president of Gale Real Estate Services Company, commented, "We are very pleased to be announcing the start of another new spec building and what will be the final development site in The Center of Morris County campus. One Jefferson Road comes on the heels of the success of our 100 Kimball Drive spec development and reflects our venture's confidence in the strength of the Morris County marketplace. With virtually no new development activity occurring in the region, we are confident that One Jefferson Road will help meet the market's demand for quality new space in the region."

"The Hampshire Companies remains committed to building Class-A headquarters quality office space in the New Jersey marketplace," said Norman A. Feinstein, executive managing director of The Hampshire Companies. "We take pride in our ability to anticipate tenants' needs and read the overall market in order to always be one step ahead of the curve. Morris County provides excellent demographics for a building of this caliber and we anticipate continued success."

The architectural firm Rotwein & Blake of Livingston, N.J., designed One Jefferson Road. The distinctive granite and smoked glass building offers tenants the high-end image suitable for a headquarters location with such details as mahogany accents and polished granite flooring in the building's lobby. The spec building also includes 45' x 30' column spacing; flexible fiber optic connectivity for voice, data, video and high-speed Internet transmissions; and a dedicated telecommunications room on each floor. The building will offer 400 parking spaces. The Sheraton Parsippany Hotel, a 383-room full service hotel, and the 140-unit Sierra Suites are adjacent to the campus, and a vast selection of restaurants and shops are nearby on Route 46.

The 90-acre, four-building Center of Morris County campus, developed and managed by the Gale Real Estate Services Company, is one of the region's most successful office parks. In addition to Deloitte & Touche, other notable tenants at the campus include State Farm Insurance, Novartis Consumer Healthcare, and Kelly Drye and Warren. Located at the intersection of Interstates 80 and 287, One Jefferson Road offers easy access to points throughout Northern and Central New Jersey, including Newark Liberty International Airport, as well as New York City.

About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments in order to consistently outperform the market. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com.

About Mack-Cali Realty Corporation
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 currently owns or has interests in 302 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.8 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 tenants. Additional information on Mack-Cali Realty Corporation is available on the company's web site at www.mack-cali.com.

About Gale Real Estate Services Company, LLC
A subsidiary of Mack-Cali Realty Corporation, Gale Real Estate Services Company offers value enhancement and client service encompassing investment/development, marketing/ leasing, asset management, construction, property/facility management, and corporate advisory services, financing, and asset disposition. For more information contact The Gale Real Estate Services Company's Roseland, New Jersey headquarters at 973-577-2500 or visit www.thegalecompany.com.

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Contact Information:

Andrea Harvey
Beckerman Public Relations
(908) 781-6420

or

Virginia Sobol
Mack-Cali Realty Corporation
(732) 590-1000