MELVILLE, New York--(BUSINESS WIRE)--Feb. 28, 2001--Reckson Associates Realty Corp. (NYSE: RA) announced today that the Company will be releasing fourth quarter 2000 earnings results on Monday, March 5, 2001.

In addition, the Company's executive management team, led by Co-CEO and President Scott Rechler, will host a conference call outlining fourth quarter results on March 5, 2001 at 3:00 p.m. EST. The conference call can be accessed by dialing (800) 230-1096 (internationally (612) 288-0340). 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 fourth quarter results.

A replay of the conference call will be available telephonically from March 5, 2001 at 7:00 p.m. EST through March 12, 2001 at 11:59 p.m. EST. The telephone number for the replay is (800) 475-6701, passcode 570410. A replay of the conference call via the Company's web site will also be available through March 12, 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.

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 Tri-State area; interest rate levels; downturns in rental rate levels in the company's markets; 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. Reckson is subject to the reporting requirements of the Securities and Exchange Commission and undertakes no responsibility to update information contained in this press release.

CONTACT:

Reckson Associates Realty Corp., Melville
Scott Rechler, President and Co-CEO
Michael Maturo, CFO
631/694-6900
Fax: 631/622-6790