MELVILLE, N.Y.--(BUSINESS WIRE)--April 23, 2001--Reckson Associates Realty Corp. (NYSE: RA) announced today that the Company will be releasing first quarter 2001 earnings results on Wednesday, May 2, 2001. In addition, the Company's executive management team led by Co-CEO and President Scott Rechler, will host a conference call outlining first quarter results on Thursday, May 3, 2001 at 3:00 p.m. EST. The conference call can be accessed by dialing (800) 553-0327 (internationally (612) 332-0530). No passcode is required. The live conference call in a listen only mode will also be available through the Company's web site at www.reckson.com under the Investor Relations section with an accompanying slide show presentation outlining the Company's first quarter results.

A replay of the conference call will be available telephonically from May 3, 2001 at 7:00 p.m. EST through May 11, 2001 at 11:59 p.m. EST. The telephone number for the replay is (800) 475-6701, passcode 582728. A replay of the conference call via the Company's web site will also be available through May 11, 2001 at 11:59 p.m. EST.

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 office and industrial properties.

Reckson's core 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 188 properties comprised of approximately 21.3 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:

Reckson Associates Realty Corp.
Scott Rechler, President and Co-CEO

or

Michael Maturo, CFO
631/694-6900 (Phone)
631/622-6790 (Facsimile)