-- Lease Follows Successful Repositioning of Madison Property --

SHORT HILLS, N.J., JULY 10, 2007 – RexCorp Realty LLC (“RexCorp”) has signed a long-term lease with the law firm of Edwards, Angell, Palmer and Dodge for 31,491 square feet at One Giralda Farms in Madison, New Jersey.

The firm is presently a tenant at RexCorp’s flagship 51 JFK Parkway property in Short Hills and is relocating within the Company’s portfolio to accommodate its growth and expansion. The new location will serve as the firm’s New Jersey headquarters. Edwards, Angell, Palmer & Dodge is a firm of more than 520 attorneys with nine offices in the United States and a representative office in London offering a full array of legal services to clients worldwide.

The 160,000-square-foot Class A One Giralda Farms, located within the RexCorp Giralda Farms Office Park, has recently completed a comprehensive repositioning to provide a premier multi-tenant corporate environment for the region’s most discriminating companies. The redevelopment featured the addition of an impressive grand entry with newly landscaped approach, a redesigned lobby to accommodate Concierge service, a fitness center and gourmet café as well as extensive above-ground and covered parking. The RexCorp Giralda Farms Office Park portfolio features three Class A office properties, One, Three and Seven Giralda Farms, and a two-building development site at Four Giralda Farms.

“With the completion of the repositioning, One Giralda Farms represents the new generation of high quality office property in the region. We are extremely proud to announce this prominent law firm’s relocation within our portfolio to this prestigious address,” said Todd Rechler, Senior Vice-President and Managing Director, New Jersey division. “The Edwards, Angell, Palmer and Dodge announcement truly validates our vision for the property, setting a new standard of excellence, one that continues our position as ‘Landlord of Choice’ in the Tri-State market.”

Edwards Angell, Palmer and Dodge was represented by Larry Martin of Grubb & Ellis.

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 $7 billion in assets encompassing over 20 million square feet.

RexCorp’s New Jersey portfolio features trophy assets strategically located in NJ's prime corporate locations including the premier Short Hills properties: 51 JFK Parkway, 101 JFK Parkway, and 103 JFK Parkway; Giralda Farms Office Park located in Madison along the Route 24 corridor, including One, Three and Seven Giralda Farms, three exceptional Class A properties as well as a two building, 451,431-square-foot ground-up development; and the recently completed world-class University Square, a 313,000-square-foot building located in the thriving Princeton marketplace.