SHELTON, CT (June 28, 2004) Reckson Associates Realty Corp. (NYSE: RA) has announced that Atrium Companies, Inc., the largest, most widely recognized manufacturer and distributor of residential vinyl and aluminum windows and patio doors in North America, signed a new long-term lease totaling 78,877 square feet at Reckson's Shelton, Connecticut property, located at 710 Bridgeport Avenue.

"We are proud to have provided Atrium Companies' with an ideal workspace solution for their operational needs. Our transaction with Atrium validates our philosophy that our tenants are our first priority and we strive to meet their evolving business needs and goals," noted the Company's Westchester/Southern Connecticut Co-Directors Greg Caggainello and John Barnes.

710 Bridgeport Avenue in Shelton is one of the finest Class A industrial/flex facilities in the region, offering a centralized location surrounded by outstanding amenities, exceptional infrastructure and a prestigious tenant history. This lease transaction reaffirms the marketplace's flight to quality and Reckson Associates' position as the Landlord of Choice in Connecticut.

710 Bridgeport Avenue is a 452,414-square-foot, multi-use Class A office facility in Shelton. It is located within minutes of Merritt Parkway, I-95 and Route 8, public transportation, shopping, hotels, restaurants and entertainment. Additional tenants include Perkin Elmer Life. Joel Hausman of Colonial Realty, served as Reckson's exclusive broker in the transaction.

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 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 properties in the New York Tri-State area, with 84 properties comprised of approximately 15.3 million square feet either owned or controlled, or under contract. 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; changes in the Company's credit ratings; changes in the Company's cost of and access to capital; 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, real estate taxes, 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.

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Reckson Associates Realty Corp.
Four Landmark Square
Stamford, CT 06901
(203) 363-2500 (Phone)
(203) 328-7977 (Facsimile) Beckerman Public Relations
Contact: Greg Caggainnello, SVP, Contact: Anna Ciringione (Media)
Co-Director, Westchester/Connecticut (908) 781-6420 (phone)
John Barnes, SVP, Co-Director,
Westchester/Connecticut