(MELVILLE, NEW YORK, November 4, 2003) Reckson Associates Realty Corp. (NYSE: RA) has signed Jackson Lewis LLP to a 20,052 square-foot long term lease at Reckson Executive Park (REP), bringing the 277,081 square-foot Melville office facility to 90 percent occupancy. The leading employment law firm joins the prestigious tenant roster Reckson Associates has already assembled at the campus including Salomon Smith Barney, Zurich Insurance, Hain Celestial Group, Inc., and OSI Pharmaceuticals, Inc., among others. The near fully leased corporate park represents Reckson Associates' ability to attract quality companies by offering world-class office environments and state-of-the-art amenities at its facilities.

We are pleased to welcome Jackson Lewis to Reckson Executive Park and to achieve 90 percent occupancy on a speculative project in such a short time, commented Ken Bauer, SVP Leasing for Reckson's Long Island division. Our success at Reckson Executive Park, in an otherwise challenging leasing climate, is reflective of our world-class office environments coupled with our strong relationships with the brokerage community. That combination has resulted in our market leadership position at Reckson Associates.

Brian D. Lee of CB Richard Ellis' Long Island office served as broker.

Reckson Executive Park, which is located at 58 South Service Road, offers a first-class office environment in a 33.5-acre campus-style office park, surrounded by 100 acres of passive parkland. Amenities include: smart-built-technology, an auditorium and high-tech conference/training facility, restaurant/café, and a state-of-the-art fitness center. In addition, the property has over 2,100 parking spaces with additional underground parking.

Reckson Executive Park's prime location sits on the border of Nassau and Suffolk County and is located within the premier Melville business corridor. The new park's location provides immediate east and westbound access to the Expressway at Exit 48, and is convenient to hotels, restaurants and retail.

For over 40 years, Jackson Lewis has placed a high premium on preventive strategies and positive solutions in the practice of workplace law. With offices in major cities throughout the U.S. Jackson Lewis combines a national perspective with an awareness of local business environments.

Reckson Associates Realty Corp. is a self-administered and self-managed real estate investment trust (REIT) specializing in the acquisition, leasing, financing, management and development of Class A office and industrial properties.

Reckson's core growth strategy is focused on the markets surrounding and including New York City. The Company is one of the largest publicly traded owners, managers and developers of Class A office and industrial properties in the New York Tri-State area, with 182 properties comprised of approximately 20.7 million square feet either owned or controlled. For additional information on Reckson Associates Realty Corp., please visit the Company's web site at www.reckson.com.

Certain matters discussed herein, including guidance concerning the Company's future performance, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, forward-looking statements are not guarantees of results and no assurance can be given that the expected results will be delivered. Such forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those expected. Among those risks, trends and uncertainties are the general economic climate, including the conditions affecting industries in which our principal tenants compete; financial condition of our tenants; changes in the supply of and demand for office properties in the New York Tri-State area; changes in interest rate levels; downturns in rental rate levels in our markets and our ability to lease or re-lease space in a timely manner at current or anticipated rental rate levels; the availability of financing to us or our tenants; changes in operating costs, including utility, security and insurance costs; repayment of debt owed to the Company by third parties (including FrontLine Capital Group); risks associated with joint ventures; liability for uninsured losses or environmental matters; and other risks associated with the development and acquisition of properties, including risks that development may not be completed on schedule, that the tenants will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors that could impact Reckson, reference is made to Reckson's filings with the Securities and Exchange Commission. Reckson undertakes no responsibility to update or supplement information contained in this press release.

Reckson Associates Realty Corp.
225 Broadhollow Road
Melville, NY 11747
(631) 694-6900 (Phone)
(631) 622-6790 (Facsimile)
Contact: Ken Bauer SVP Leasing
Long Island 631-622-6655

Beckerman Public Relations
Contact: Mira Matic
908-781-6420
mira@beckermanpr.com