Mack-Cali Realty Corporation Announces Tax Treatment of 2009 Dividends

EDISON, N.J., Jan. 15  /PRNewswire-FirstCall/ -- Mack-Cali Realty Corporation (NYSE:CLI) today announced the tax treatment of its 2009 dividends.  The Company's total distribution of $1.99 per share of common stock (CUSIP #554489104) is to be classified for income tax purposes as follows:

     RECORD     PAYMENT             CASH      TAXABLE      NONDIVIDEND
       DATE        DATE    DISTRIBUTIONS     ORDINARY    DISTRIBUTIONS
                               PER SHARE    DIVIDENDS       (RETURN OF
                                                              CAPITAL)

   01/06/09    01/12/09         $0.64000     $0.59333         $0.04667
   04/03/09    04/13/09          0.45000      0.41718          0.03282
   07/06/09    07/10/09          0.45000      0.41718          0.03282
   10/05/09    10/09/09          0.45000      0.41718          0.03282
   --------    --------          -------      -------          -------
     Totals                     $1.99000     $1.84487         $0.14513
     ======                     ========     ========         ========





The Company's total distribution of $2.00 per depositary share of Series C cumulative redeemable perpetual preferred stock (CUSIP #554489302) is to be classified for income tax purposes as follows:

     RECORD     PAYMENT             CASH      TAXABLE
       DATE        DATE    DISTRIBUTIONS     ORDINARY
                               PER SHARE    DIVIDENDS

   01/06/09    01/15/09         $0.50000     $0.50000
   04/03/09    04/15/09          0.50000      0.50000
   07/06/09    07/15/09          0.50000      0.50000
   10/05/09    10/15/09          0.50000      0.50000
   --------    --------          -------      -------
     Totals                     $2.00000     $2.00000
     ======                     ========     ========




The fourth quarter 2009 distributions being made to shareholders of record as of January 6, 2010 are considered 2010 distributions for federal income tax purposes.  Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Mack-Cali Realty Corporation dividends.

Mack-Cali Realty Corporation is a fully-integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio.  Mack-Cali currently owns or has interests in 289 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.2 million square feet.  The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,100 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's Web site at http://www.mack-cali.com/.

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.  Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology.  Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested.  Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference.  The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

  Contacts:  Barry Lefkowitz                Ilene Jablonski
             Executive Vice President       Senior Director, Marketing
              and Chief Financial Officer    and Public Relations
             [phone]                 [phone]


DATASOURCE: Mack-Cali Realty Corporation



CONTACT:  Barry Lefkowitz, Executive Vice President and Chief Financial

Officer, [phone] or Ilene Jablonski, Senior Director, Marketing and

Public Relations, [phone]



Web Site:  http://www.mack-cali.com/ 

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