Event Held at RexCorp’s Newly Completed Class-A University Square, Princeton

SHORT HILLS, NJ, SEPT. 19, 2007 -- RexCorp Realty LLC (“RexCorp”) hosted an informational business gathering for the region’s top corporate real estate directors to discuss the state of the real estate market at a private preview of its University Square property in Princeton on Tuesday, September 18, 2007. The property was selected as a showcase for the Summit as representative of the finest “next generation” office property.

Among the distinguished officials in attendance were David E. Nuse, Director of the Real Estate Development Division of The New Jersey Economic Development Authority, James W. Hughes, Ph.D., Dean, Edward J. Bloustein School of Planning and Public Policy at Rutgers University, the executive management of RexCorp, the owners and developers of University Square. The audience was comprised of leading real estate executives from those Fortune 100 companies who operate within the greater Princeton region.

“Congratulations to RexCorp and all those who took part in designing and developing this impressive building,” said David Nuse, Director of the Real Estate Development Division of The New Jersey Economic Development Authority. “As we move forward with Governor Corzine’s strategic plan to grow the state’s economy through the Office of Economic Growth, we are continuing to support the kinds of programs and services that attract new businesses to facilities like this one and retain and grow those businesses that have already chosen to locate in New Jersey.”

“New Jersey still has a powerful leading-edge, knowledge-based economy comprising more than 4.1 million jobs. However, it has been growing very slowly,” said Dean Hughes. “Its future will be determined by the maintenance of its high quality labor force and quality of life, while at the same time reducing the high costs of doing business in the state.”

The trophy office building is a 313,000 square-foot Class A office building strategically located at US Highway #1 and Alexander Road. RexCorp developed the five-story spec office building, which was designed to incorporate the advanced business requirements and amenities required by discriminating Fortune 500 companies. The building features a dramatic two-story lobby with rich cherry wood paneling and granite detail; state-of-the-art communications, technology and connectivity; teleconferencing and training facilities; concierge service, health club, saunas and a cafeteria for more than sixty.

“We are very pleased to celebrate the official opening of University Square,” stated Todd Rechler, Senior Executive Vice President and Managing Director, New Jersey Divison and Managing Director RexCorp Construction and Development LLC. “University Square continues our Company’s proud legacy of developing properties of true distinction that feature exceptional design, high-end amenities and quality finishes. We are confident that with the building now ready for tenant viewing and occupancy, the strong level of interest we have seen throughout the last year will translate into a rapid and successful leasing campaign.”

GVA Williams New Jersey is leading the leasing assignment for the newly completed property, which has seen a tremendous amount of interest from brokers and prospective tenants since the project broke ground. “Every aspect of University Square has been meticulously planned to incorporate the advanced business requirements and amenities that today’s Fortune 500 companies desire and have come to expect,” said GVA Williams President David Simson, who is heading the leasing efforts. “There is simply no other new building in Princeton to rival the level of detail, quality finishes and infrastructure of University Square.”

About New Jersey Economic Development Authority
The New Jersey Economic Development Authority is a self-supporting, independent state agency whose mission is to stimulate business development, job creation and community revitalization throughout the State. EDA provides assistance through financing, real estate economic development and technical support programs.

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 69 properties comprised of over 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.

RexCorp’s New Jersey portfolio features trophy assets strategically located in NJ's prime corporate locations including: 51 JFK Parkway, 101 JFK Parkway, and 103 JFK Parkway, all located within the premier Short Hills office market, and the Class-A Route 24 corridor properties, including: One Giralda Farms, Three Giralda Farms, Seven Giralda Farms, and Giralda Farms Office Park, a two-building, 451,431-square-foot ground-up development that offers an additional expansion opportunity of up to 1.25 million square feet of additional new space. The latest addition to the RexCorp portfolio is the recently completed world-class University Square property, a 313,000-square-foot building located in the thriving Princeton marketplace.