-- Recent transactions total over 136,000 square feet of Class-A space --

SHORT HILLS, NJ – OCT. 1, 2007 -- RexCorp Realty LLC (“RexCorp”) reported a strong 2nd and 3rd quarter for new leases and renewals despite a challenging real estate marketplace. The company reports that leases and renewals for this period exceeded 136,000 square feet of Class A office space throughout the northern New Jersey market.

“RexCorp’s portfolio of Class A properties remains extremely desirable to prospective tenants throughout the state of New Jersey,” said Todd Rechler, Senior Executive Vice President and Managing Director, New Jersey Division and Managing Director RexCorp Construction and Development LLC. “RexCorp is committed to investing in New Jersey and to remaining the ‘landlord of choice’ in the state by providing first class working environments in the most strategic locations. Our strong recent performance reflects the flight to quality by Corporate America and we remain well positioned in this climate.”

The recent transactions were completed at eight of RexCorp’s signature properties, 51 JFK Parkway in Short Hills, 119 and 99 Cherry Hill Road in Parsippany, 3 University Place in Hackensack, 44 Whippany Road in Morristown, Executive Hill Office Park in West Orange, 72 Eagle Rock Avenue in East Hanover, and 400 Forge Way in Rockaway.

The completed transactions include:
51 JFK Parkway in Short Hills, which is recognized as one of the premier suburban office buildings in the tri-state region, offers tenants a total of 251,051 square feet spanning five floors. Located directly across from The Short Hills Mall and next to the Short Hills Hilton, the only five-star hotel in New Jersey, the property is convenient to major highways including Route 24, 78, the Garden State Parkway and New Jersey Turnpike.

• Wachovia Global Securities Leasing, f/k/a Metropolitan West Financial, Inc., a firm specializing in third-party agent securities lending and short-term fixed-income asset management, renewed and expanded their lease to a total of 8,684 square feet.
• Stephen Ng Financial Group LLC, is a professional financial planning firm working exclusively with mature senior investors in the areas of investment strategy, annuity advice, long-term care planning, tax and estate planning, leased 3,412 square feet. Michael Tesser of Newmark Knight Frank represented the tenant on this lease.

In Parsippany, 119 Cherry Hill Road is a 95,724 square-foot, three-story building situated on one of the township’s park-like properties with a pond. With easy accessibility to Routes 80 and 46, the office building offers many tenant amenities including on-site café and conference room.

• Validus Pharmaceuticals Inc., a full service pharmaceutical company based in Parsippany, leased 4,326 square feet. The company markets Marplan® as well as other products that have potential in the treatment of central nervous system diseases. Rich Madison of Newmark Knight Frank represented the tenant on the lease.
• American Medical Association, the largest association of doctors and medical students in the U.S., renewed 7,227 square feet. The AMA was represented by Charles Dillon of The Staubach Company.

Also in Parsippany is 99 Cherry Hill Road, a three-story, 93,250 square-foot office building situated in a park-like setting with a pond. This property is located at the interchange of Route #80 and convenient to all major highways. Tenant amenities include café and conference room

• New Agency Partners, LLC, an independent insurance agency specializing in commercial and private property and casualty products, employee benefits, and life, disability and long-term care insurance, leased 8,195 square feet.

3 University Plaza is a 219,794 square-foot, six-floor building located in Hackensack, the municipal seat of Bergen County. The building is within 10 minutes from the George Washington Bridge, near Routes 4 and 17, and the Garden State Parkway.

• Clermont Specialty Managers, LTD, the underwriting arm of Admiral Indemnity Co. and Clermont Insurance Co with headquarters in Hackensack, relocated from the second to the sixth floor in an expanded space totaling 15,363 square feet. Mark Siegler of Colliers Houston & Co. represented the tenant.
• Reinauer Realty Corporation, a commercial real estate brokerage, property management and consulting company renewed 994 square feet.

In Morristown, 44 Whippany Road is a 220,000 square-foot Class A office building overlooking a serene pond set amid meticulously landscaped park-like surroundings. Tenants are served with first-class amenities including an on-site café, dramatic three-story atrium lobby, security access and ample parking. This property is easily accessible to Interstate 287, the Morristown Airport, shopping and restaurants.

• CIT Group, a leading global finance company with approximately $81 billion in managed assets, renewed its lease for 48,774 square feet.

Executive Hill Office Park is comprised of 400,000 square feet of offices throughout four buildings situated in West Orange overlooking Route 280. With its array of amenities, which include a health club, conference room, full service café and shuttle services, this building continues to attract new tenants. The office park is near the Marriott Courtyard and next to the Essex Green Shopping Center.

• Patient Care Medical Services, Inc., providers of in-home skilled nursing and physical therapy in the Essex County area, leased 7,546 square feet. Gregg Najarian of Studley represented the tenant on this lease.

In East Hanover, 72 Eagle Rock Avenue is a 144,500 square-foot office building spanning three floors. This building, located with convenient access to Routes 280, 80 and 46, presents a two-story atrium lobby featuring imported marble finishes and extensive millwork.

• Callahan & Fusco, LLC, a full-service law firm specializing in corporate litigation and law, civil litigation, special education and education law, and construction law and liens, leased 7,256 square feet. Richard Baumstein of Cushman & Wakefield represented the tenant on the lease. 400 Forge Way in Rockaway is a 73,000 square-foot office building located on a sprawling campus of four buildings overlooking a pond.
• Snyder’s of Hanover, America’s Pretzel Bakery since 1909, leased 24,000 square feet. Frank Kobola of Colliers Houston & Co. represented the tenant on the lease.

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.