Fourth Quarter NJ transactions in excess of 128,000 square feet of Class-A space, recording over 400,000 square feet in transactions during 2007

SHORT HILLS, NJ – DEC. 17, 2007 – RexCorp Realty LLC (“RexCorp”) reported a strong fourth quarter for new leases and renewals in its New Jersey Division. The Company reported that leases and renewals for this period exceeded 128,000 square feet throughout its northern New Jersey holdings. In 2007, RexCorp recorded in excess of over 400,000 square feet of leasing activity in the New Jersey Division, reflecting its market position as one of the leading office landlords in the New York Metropolitan area.

“RexCorp continues to remain focused on tenant satisfaction, throughout all of our Class A properties,” said Todd Rechler, Senior Executive Vice President and Managing Director, New Jersey Division and Managing Director RexCorp Construction and Development LLC. “RexCorp’s significant rate of tenant retention and strong leasing activity within our growing portfolio continues to enable our company to outperform the local New Jersey marketplace.”

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

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

At Executive Hill Office Park in West Orange:

• Henry H. Kessler Foundation, Inc. Two leases for the Foundation were completed at the park. The broker representing the tenant for the Kessler expansion was John O’Hearn of the Sitar Company.
• Collaborative Consulting LLC., professional consulting services. Barbara Gross of Sheldon Gross Realty Inc. represented the tenant on the lease.

In Morristown, at 44 Whippany Road:

• Life Extension Institute, the nation’s largest provider of physical examination and preventative health care services. Frank Gallo of Core Plus Properties represented the tenant.

At 3 University Plaza, Hackensack:

• IT solutions provider, Ness USA, Inc., Richard Baumstein of Cushman & Wakefield of New Jersey represented the tenant.
• Evermetal, Inc., an international metal trading company. William Lee of Weichert Realtors represented the tenant.

In Parsippany, 99 & 119 Cherry Hill Road:.

• Engineering and construction firm CH2M Hill. Gregg Najarian of Studley represented the tenant.
• Axiom Healthcare Communications LLC, an innovator in the world of pharmaceutical sales training and medical education. John Cunningham of GVA Williams represented the tenant on the lease.
• York Insurance Services Group, Inc., a leading insurance services provider. Todd Smith of the Acclaim Group, LLC, represented the tenant.
• H2M Group, an engineering and architectural services company. Jerry Guerra and Jason Scaramucci from Paragon Group and John Cunningham from GVA Williams represented the tenant.

At 400 Forge Way in Rockaway:

• Fette America Inc., a pharmaceutical technology company. Remy P. de Varenne, Jr., of CB Richard Ellis represented the tenant on the lease.

RexCorp’s portfolio of Class A office properties continue to attract a high quality tenant roster. New and existing tenants recognize the value inherent in the superior building architecture, strategic locations, amenity packages and Rexcorp’s dedication to service.

Executive Hill Office Park is a four-building 400,000 square foot Class A office complex 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 located next to the Marriott Courtyard and the Essex Green Shopping Center.

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.

Cherry Hill Office Park in Parsippany is a twin building 188,974 square-foot office park situated on one of the township’s park-like properties with a pond. With easy accessibility to Routes 80 and 46, the buildings offer many tenant amenities including on-site café and conference room.

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 of the George Washington Bridge, near Routes 4 and 17, and the Garden State Parkway.

400 Forge Way in Rockaway is a 73,000 square-foot office/flex building located on a sprawling four-building campus overlooking a pond.

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 70 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.