Recent Lease Agreements in Hauppauge, Bohemia, Melville and Farmingdale Total 282,729 Square Feet

(MELVILLE, NEW YORK - November 20, 2000) Reckson Associates Realty Corp. (NYSE: RA) has announced a strong level of leasing activity throughout its Suffolk County industrial portfolio, with recent new leases and renewals totaling 282,729 square feet. These transactions cover Reckson properties in Hauppauge, Bohemia, Melville and Farmingdale; underscoring Reckson's ability to both attract and to retain long-time tenants.

In the largest of these transactions, Loop Loc Corp., a manufacturer of swimming pool safety covers, has leased 181,060 square feet at 390 Motor Parkway, Hauppauge. The lease represents both a company expansion and relocation within Reckson's portfolio.

Company growth prompted the move to the new location which will house executive and administrative offices as well as light manufacturing and warehouse space. Also in Hauppauge at 55 Engineers Drive, Deutsch Relays, which manufactures relay switches, is leasing 36,000 square feet for its administrative offices, manufacturing and warehouse operations. Bob Desmond of All Industrial Real Estate Corp. represented the tenant in the transaction.

Company expansion is prompting a move to Reckson's new Airport Industrial Park 2002 in Bohemia where J. M. Lynne Co, Inc. has signed a long-term lease for 48,233 square feet. The company's executive and administrative offices, as well as its manufacturing and warehousing components will be making the move from smaller quarters at another Reckson property. David Panetta of Oxford & Simpson brokered the lease agreement.

In Western Suffolk, the prominent retailer, Bed, Bath & Beyond is leasing 9,297 square feet of office space at 110 Bi-County Boulevard, Farmingdale for data processing. Robert Yaffee of United Realty was the broker for this transaction. Also at that property, Dataline Incorporated has leased 8,139 square feet for its executive and administrative offices as well as for data processing and storage.

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

Reckson's core growth strategy is focused on the suburban markets surrounding and including New York City. Since the completion of its initial public offering in May 1995, Reckson has acquired or contracted to acquire or developed approximately $2.1 billion of properties comprising approximately 16.1 million square feet of space.

Reckson Associates is one of the largest publicly-traded owners and managers of Class A suburban office and industrial properties in the New York City "Tri-State" area, with 185 properties comprised of approximately 20.6 million square feet either owned and controlled, directly or indirectly, or under contract. For additional information on Reckson Associates Realty Corp. please visit the Company's Web site at www.reckson.com.

This information contains forward-looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties in the New York metropolitan Tri-State area; interest rate levels; the availability of financing; 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.

Contact:

Mitchell Rechler
Co-Chief Operating Officer
(631) 694-6900