(MELVILLE, NEW YORK August 18, 2000) Reckson Associates Realty Corp. has announced several sizable transactions within the Company's industrial properties on Long Island, reflecting Reckson's commitment to tenant satisfaction and the current health of the Long Island industrial real estate market. Recent transactions include several sizable renewals at Reckson industrial properties in Melville, Hauppauge and Bohemia.

Robotic Visions Systems, Inc., a manufacturer of semi-conductors, renewed their lease for 65,421 square feet at 425 Rabro Drive in Hauppauge. This transaction covers the entire building. Mark Silver of Insignia/ESG served as the broker.

Elsewhere in Hauppauge, A & Z Pharmaceutical, Inc., a vitamin manufacturer, renewed their lease for 13,606 square feet at 180 Oser Avenue. Time Sharing Resources, Inc., a provider of computer data services, renewed their 8,180 square feet at 400 Oser Avenue. Also at that location, Ronco Paper Product Corporation renewed for 6,000 square feet and Citadel Data Corp, Inc. renewed for 3,950 square feet. At 30 Oser Avenue, Controlotron Corporation, renewed their lease for 9,000 square feet they occupy for their manufacturing and warehousing of computer equipment. In that same building, NBG Technologies, a bicycle manufacturer, renewed for 24,000 square feet. And, at 40 Oser Avenue, Listec Video Corp. renewed for 3,000 square feet.

In Melville, Bi-Lo Distributors, a distributor of health and beauty products, renewed their lease for 42,336 square feet at 5 Hub Drive. In Central Islip, Sir Industries, Inc., a distributor of light bulbs, renewed their 6,640 square feet at 208 Blydenburgh Road.

Other industrial renewals occurred at Reckson's properties in Bohemia. NAI, Inc. (North Atlantic Instruments), a distributor of electronic products, retained their 20,827 square feet at 170 Wilbur Place in Bohemia. In that same building, Taztek Industries, Inc., renewed their lease for 7,553 square feet, represented by Chuck Tabone of Newmark Realty. Also in Bohemia, R.F. Power Components, Inc., a distributor of computer products, renewed for 11,903 square feet, plus leased an additional 3,800 square feet for a total of 15,703 square feet.

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.

Contact:

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