(TARRYTOWN, NEW YORK-October 3, 2000) Reckson Associates Realty Corp. has announced that Pangea, and Advanced Telecom, Inc. have joined the prestigious list of tenants at Reckson Metro Center, 360 Hamilton Avenue, in White Plains. Pangea, a telecommunications company, occupies 10,507 square feet on the first floor and Advanced Telecom has signed a lease agreement for 5,814 square feet on the 4th bringing the leased and occupied rate for the building to 82%. The 380,000 square foot Reckson Metro Center has consistently attracted top name tenants in the eight months since its grand opening following Reckson's $50 million value creation project. Reckson Metro Center serves as Reckson's flagship property in Westchester within the Company's Class A portfolio, the largest in the County, of 29 properties totaling 3.6 million square feet.

Pangea, a new provider of fiber optic systems in northern Europe and Scandinavia will establish its executive offices at Reckson Metro Center, noted Matt Carlson, Vice President. Carlson has said that the company is pleased to locate within a building that offers such an impressive list of features. He commented that the location also served as a strong selling point, as did the building's many amenities. Rich Novak of McCarthy O'Callaghan represented the tenant in this transaction.

Advanced Telecom, Inc., a premier service provider of voice communication systems for commercial call-in centers, specializes in the financial, healthcare utility, telecommunications and transportation industries. Advanced Telecom, previously based in Santa Rosa, California, selected the building because of White Plains' proximity to Manhattan and the skilled local workforce to help grow its business. Ed Kuilkowski of Aries, Deitch & Endelson, Inc. represented the tenant in the transaction.

Pangea and Advanced Telecom, Inc. join a tenant roster that includes Heineken, Prudential Insurance Company, Redi Corporation, Merrill Lynch, Pierce, Fenner & Smith, Inc.(Private Banking Group); Gelco Information Network, Inc.; NorthEast Optic Network, Inc. (NEON); and CMGI Solutions, Inc.

"Reckson Metro Center is a winning combination, a state-of-the-art property in a prime location, the market has responded tremendously to this technologically advanced over-amenitized building. Including the above transactions Reckson Metro Center has captured more than 40% of the first six months leasing activity in White Plains," said Salvatore Campofranco, Managing Director of Reckson's Westchester region. "We're pleased to see three more prominent tenants join our roster, and know Reckson will continue to be the "Landlord of Choice" for growth companies in the region."

After more than 10 years of standing vacant, Reckson Metro Center has been recreated from the inside out through Reckson's $50 million dollar value creation project, which included $15 million earmarked for construction and renovation. That extensive project gave the building such features as a sophisticated new streetscape utilizing three tones of granite and arched accents, and serving as an anchor to the 12-story reflective glass tower that rises above it.

The new lobby, incorporates incredible finishes and sophisticated designs, as well as an interactive multi-media data center for visitors. The list of other amenities at Reckson Metro Center include meeting rooms equipped with global video conferencing, high-speed Internet access, a teleconferencing auditorium with seating for 140, a private VIP boardroom. Tenants can also benefit from concierge services, 24-hour access, excellent broad bandwidth and riser capacity, a state-of-the-art energy management system, full-service health club, cafe and executive dining in two distinct areas.

Reckson Metro Center provides tenants with a prime location, in the heart of White Plains' Central Business District, within walking distance of entertainment, dining, arts and shopping opportunities. To enhance Metro Center's accessibility, Reckson will offer tenants private shuttle service to the Trans Center.

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 15.8 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 20.3 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:

Salvatore Campofranco
Managing Director, Westchester Division
(914) 332-0600

Mitchell Rechler

Co-Chief Operating Officer

(631) 694-6900