(MELVILLE, NEW YORK June 6, 2003) Reckson Associates Realty Corp. is pleased to announce the appointment of Carlton G. Wenz as Vice President of Office Leasing for its Long Island Division. An industry veteran with more than 10 years' experience in commercial real estate on Long Island, Mr. Wenz will be working directly with Ken Bauer, Senior Vice President of Leasing in managing the Division's portfolio of 4.1 million square feet.

Prior to joining Reckson Associates, Mr. Wenz most recently served as Senior Director, Brokerage Services Group, for Cushman & Wakefield. Mr. Wenz specialized in tenant representation, representing many prestigious well-known companies in leasing transactions, including First Data Corp., General Motors, Northrup Grumman, Verizon, L-3 Communications, IVAX Corporation, Estee Lauder, AT&T, Drake Bakeries, and SONY Music. In 2000, Mr. Wenz was awarded Reckson Associates' Deal of the Year Award for a leasing transaction totaling 128,000 square feet. Since 1998, he has successfully completed 444,000 square feet of transactions within the Reckson portfolio.

Carlton Wenz is a true professional and is extremely knowledgeable with the Long Island marketplace. His familiarity with the Long Island Reckson portfolio and his strong relationships with the brokerage and business community make him an ideal part of our team, stated Mitchell Rechler, Co- President of Reckson Associates. He understands the requirements of the corporate tenant and has a thorough knowledge of acquisitions, marketing and strategic portfolio management. We are extremely excited to welcome him to the Company.

Mr. Wenz obtained his Bachelor of Science degree from St. John's University and is a member of their esteemed alumni society. He is a resident of Wantagh, New York, where he and his wife, Diane, are raising three children.

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 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 and industrial properties in the New York Tri-State area, with 178 properties comprised of approximately 20.3 million square feet either owned or controlled. For additional information on Reckson Associates Realty Corp., please visit the Company's web site at www.reckson.com.

Certain matters discussed herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations (including the Company's ability to maintain its current dividend level) 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 and industrial/R&D properties in the New York Tri-State area; changes in interest rate levels; 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, 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.

Contact:
Mitchell Rechler
Co-President
Reckson Associates Realty Corp.
(631) 694-6900