--Trophy Properties with Optimal Amenities Continue to Draw Tenants --

SHORT HILLS, N.J., APR. 15, 2008 – RexCorp Realty LLC’s (“RexCorp”) reports strong first quarter leasing and renewal activity in 2008.

“While New Jersey’s commercial real estate marketplace is showing signs of caution in certain sectors, RexCorp’s Class-A office properties throughout the state continue to attract tenants seeking the highest levels of amenities and services in premier office environments,” said Todd Rechler, President of RexCorp’s New Jersey division and RexCorp Construction and Development LLC. “In an environment like this, we have historically been a beneficiary of the flight to quality trend at RexCorp.”

RexCorp’s recent office leasing/renewal activities include:

Life Extension Institute, Inc. renewed and expanded its lease by 7,932 square feet at 44 Whippany Road in Morristown, New Jersey. Core Plus Properties LLC was the broker who handled the transaction. 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.

Healthlogix, LLC, leased 6,223 square feet at 99 Cherry Hill Road in Parsippany, New Jersey. Jones Lang LaSalle represented the tenant. Cherry Hill Office Park 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.

The Partnership for Children of Essex, Inc. leased 5,717 square feet of office space at 200 Executive Drive in West Orange, New Jersey. ILV Group was the broker representing The Partnership for Children of Essex, Inc. 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.

Armada Health Care LLC leased 5,512-square-foot of office at 51 JFK Parkway in Short Hills, New Jersey. Newmark Associates, Inc represented the tenant. 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.

Evermetal, Inc. added an additional 2,511 square feet to their existing lease at 3 University Plaza in Hackensack, New Jersey. At the same building, Nagano & Morita CPA signed a new lease and Action International Realty Corp represented the tenant. 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.

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 11.2 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.