Westchester portfolio records approximately 100,000 SF of leasing transactions

White Plains, NY – April 17, 2008 – RexCorp Realty LLC (“RexCorp”), the leading real estate operating company in the New York Tri-State region, began 2008 with a robust first quarter. RexCorp recorded approximately 100,000 square feet in leasing activity with both new and existing tenants at its Class A Westchester office portfolio, including the newly repositioned 1.4 million square-foot, 14-building Platinum Mile and the 710,000 square-foot Tarrytown Corporate Center.

Following the completion of its multi-million dollar capital improvement program, the Platinum Mile continues to attract prominent businesses, making it Westchester’s most desired corporate address. Its combination of superlative location and amenities drew Banco do Brasil, S.A., the largest financial institution in Brazil, to the recently revitalized 709 Westchester Avenue. The bank, which maintains offices in 22 countries, signed a new, long-term lease for 15,186 square feet. Jonathan Schindler and Aron Schreier of Colliers ABR represented the tenant in the transaction.

In excess of 60,000 SF of new, renewed and expanded leases were signed at the Platinum Mile during the period. In addition to Banco do Brasil, new leases included:

• Hitachi Metals America, a wholly-owned subsidiary of Tokyo-based Hitachi Metals, Ltd., signed a new 10,646 square-foot lease at 701 Westchester Avenue. Philip Luria of Austin Corporate Properties represented the tenant in this transaction.
• Friedlander Group, Inc., the market leader in Worker’s Compensation services for retailers, wholesalers, restaurants, hotels and motels in New York state, signed a new 5-year 6,816 square-foot lease at 2500 Westchester Avenue. Glenn Walsh of Cushman & Wakefield represented the tenant in this transaction.
• Metropolitan Life Insurance Co. expanded its presence with a new 4,958 square-foot lease at 707 Westchester Avenue. Gerard Hallock of Jones Lang LaSalle represented the tenant in this transaction.

Tarrytown Corporate Center continues to draw and retain tenants, with over 27,400 SF in leasing transactions completed during Q1, led by Datacap, a leading provider of document capture and forms processing software solutions to organizations worldwide.

• Datacap renewed its five-year, 10,079 square-foot lease at 660 White Plains Road as well as expanded its offices at the property with an additional 1,662 square feet.
• Bayer Corp, a leading science and technology company and long-term Tarrytown Corporate Center tenant, expanded its offices at 555 White Plains Road furthering its commitment to the park. Brad Armstrong of Equis represented the tenant in the transaction.
• Spar Marketing Force, a diversified marketing services company, signed a new 5,607 square-foot lease at 560 White Plains Road. Craig Ruoff of Rakow Commercial represented the tenant in the transaction.

Tarrytown Corporate Center features an unparalleled location near major parkways and transportation arteries including I-287 and Route 119 as well as a Sheraton and Marriott Hotel, and major local retail centers. Favored amenities within the high-design office park include concierge service, onsite conference rooms, cafeterias, restaurants and retail.

“We thank our new and existing tenants for helping to make us ‘Landlord of Choice’ for leading corporations located in Westchester,” said Joseph Caruso, RexCorp’s Senior Vice President who heads up leasing at the Platinum Mile. “The strong leasing activity amid a slowing economy during the first quarter reflects the underlying power of RexCorp’s long-term commitment to the Westchester’s commercial real estate market.”

Joel F. Cardillo, RexCorp Senior Vice President responsible for the Tarrytown Corporate Center, said: “RexCorp remains dedicated to offering high-quality service and property management for a growing number of the region’s leading businesses as tenants.’’

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 11.2 million square feet, and approximately $3 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.