Portfolio Records 86,215 in New, Renewed and Expanded Leases

Highlights Include Lend America and Signature Bank Transactions

Uniondale, NY – May 14, 2008 - Continuing to set the standard for Long Island’s commercial real estate market, RexCorp Realty LLC (“RexCorp”) began 2008 with an active quarter of leasing transactions. Throughout its exceptional Long Island portfolio, the company inked 86,215 square feet in new, renewed or expanded leases over the first quarter.

“We continue to see confidence in the market and in our portfolio as evidenced by the completion of multiple transactions at our properties,” said Kenneth Bauer, Executive Vice President and Director of Leasing at RexCorp Realty. “Our prime Class A properties and our commitment to attentive management provide RexCorp with key competitive advantages.”

Leasing highlights in Melville include:

Lend America, a national mortgage lender, signed at 520 Broadhollow Road for 57,633 square feet. Rich Caputi of Whitman Realty Group represented the tenant.

Signature Bank, a commercial bank servicing clients throughout the New York metropolitan area, relocated within RexCorp Executive Park, from 58 South Service Road to 68 South Service Road, expanding to 17,584 square feet. Ted Stratigos and Joseph Fabrizi of Cushman & Wakefield represented the tenant in this relocation and expansion transaction.

“RexCorp Executive Park in Melville defines tenants’ flight to both quality and tenant-oriented service,” Mr. Bauer said. “With the completion of the Signature Bank lease, the park is 100 percent occupied with 12-blue chip tenants at 58 South Service Road and nine tenants at 68 South Service Road.”

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 $3.5 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.