ROBUST LEASING ACTIVITY REPORTED BY REXCORP AT ITS WESTCHESTER OFFICE PORTFOLIO

Transactions total over 76,000 square feet

White Plains, NY – June 15, 2007 – RexCorp Realty LLC (“RexCorp”), today announced 19 leasing transactions throughout its dynamic Westchester office portfolio over the past two months totaling in excess of 76,000 square feet. Both RexCorp Platinum Mile and RexCorp Tarrytown Corporate Center boast this flurry of new leases as well as early renewals and expansions by long-term, prominent tenants.

Strong Leasing Activity Totaling 58,500 Square Feet Continue at Newly Repositioned Platinum Mile

The Platinum Mile portfolio, whose multi-million dollar capital improvement and repositioning program was recently finalized, is a jewel in the RexCorp Westchester property portfolio. Its prominence as one of Westchester’s leading office parks coupled with the excellence of RexCorp property management has resulted in strong and sustained interest of both new and existing tenants.

Tarrytown Corporate Center Maintains Buoyant Leasing Velocity with 18,250 Square Feet in Deals

RexCorp’s Tarrytown Corporate Center also exemplifies RexCorp’s core ideology of providing tenants with the best possible workplaces, services and amenities. Tarrytown Corporate Center, located near the parkways and major transportation arteries including the I-287 and Route 119 corridors offers a full array of desirable amenities and services and is next to a Sheraton and a Marriott Hotel, the latter featuring a four-star restaurant.

“While RexCorp’s enviable Class A Westchester office properties are magnets for business leaders from all over the metro-area, we expect to see an even greater acceleration of this trend as New York City office rents continue on their current trajectory,” commented Joseph Caruso, Senior Vice President, Leasing, responsible for RexCorp’s Platinum Mile.

Concurring, Joel F. Cardillo, Senior Vice President, Westchester/Connecticut Division and responsible for RexCorp’s Tarrytown Corporate Center commented, “RexCorp’s name is synonymous with high quality service and property management and our reputation as ‘Landlord of Choice’ coupled with the striking physical lay-out and design of our office properties means that RexCorp will always be selected first by businesses that demand the very best in office and headquarters facilities.”

Highlights of recent new leases, as well as expansions and renewals include:

At Platinum Mile:

o National Health Promotion Associates, Inc signed a new lease at 711 Westchester Avenue;
o Prominent investment management firm, Alpine Woods L.P. renewed the lease, and expanded its offices at 2500 Westchester Avenue;
o US subsidiary of Japanese FUWA Metals signed a new lease at 707 Westchester Avenue;
o Uniglobe Kisco, Inc., specialist in plastics and electronic products also signed a new lease at 707 Westchester Avenue;
o Zinman Accounting & Financial Consulting signed a new lease at 110 Corporate Park Drive. The firm was represented by Coldwell Banker Commercial’s Tony DiCamillo;
o The American Diabetes Association signed a new lease at 110 Corporate Drive. Budd Wiesenberg of CBRE represented the tenant in this transaction;
o Wachovia Securities, Inc, represented by CBRE’s Paul King, signed a new lease at 2500 Westchester Avenue;
o IT professional services and consulting firm, Rose International Inc., signed a new lease at 106 Corporate Park Drive. The firm was represented by Michael Norris of Colliers ABR;
o Ground water and environmental services consulting firm, Leggette Brashears & Graham Inc., renewed its lease at 110 Corporate Park Drive. Tim Donahue of Jones, Lang, LaSalle represented the tenant in this transaction;
o Long term tenant, Henry Shaw, CPA, P.C. renewed its lease at 106 Corporate Park Drive.

At Tarrytown Corporate Center:

o Consumer product testing company, CRG Global, Inc. signed a new lease at 560 White Plains Road;
o Zurich American Insurance signed a new lease at 560 White Plains Road; Gregg Espagh of Equis Group represented the tenant in this transaction;
o Long term tenant, The Gordon Group, renewed the lease at 505 White Plains Road;
o Information and content service distribution provider, Infodesk, renewed the lease on its office space at 660 White Plains Road;
o Wildwood & Holt, Inc. an independent employee benefits consulting firm and long-term RexCorp tenant has renewed its lease and expanded its offices at 660 White Plains Road;
o Parking ticket outsourcing services company, Complus Data Innovations, Inc, expanded its offices at 560 White Plains Road.

About RexCorp

RexCorp Realty LLC, (“RexCorp”) is a fully integrated private real estate company with expertise in investment management, development, design, construction, leasing, financing and asset management.

RexCorp’s core growth strategy is focused on the markets surrounding New York City. The Company is one of the largest owners, managers, and developers in the New York Tri-State Area with approximately $3 billion in assets, with over 70 properties comprised of approximately 11 million square feet, and approximately $3.5 billion in development projects. RexCorp, along with predecessor entities, has owned, managed and developed approximately $6 billion in assets encompassing over 20 million square feet. For more information on RexCorp, please visit the Company’s web site at www.rexcorprealty.com.