Hersh staying focused at Mack releases 3Q results.

Mack-Cali Realty Corporation has reported its results for the third quarter 2005.

Net income available to common shareholders for the third quarter 2005 equaled $20.6 million, or $0.33 per share, versus $28.1 million, or $0.46 per share, for the same quarter last year.

For

Funds from operations (FFO) available to common shareholders for the quarter ended September 30, 2005 amounted to $66.7 million, or $0.88 per share, versus $69.7 million, or $0.93 per share, for the quarter ended September 30, 2004. For the nine months ended September 30, 2005, FFO available to common shareholders amounted to $205.2 million, or $2.71 per share, versus $202.2 million, or $2.70 per share, for the same period last year.

Total revenues for the third quarter 2005 increased 10.8 percent to $164.0 million as compared to $148.0 million for the same quarter last year.

For the nine months ended September 30, 2005, total revenues amounted to $480.9 million, an increase of 11.9 percent over total revenues of $429.8 million for the same period last year.

Mitchell E. Hersh, president and chief executive officer of the REIT, commented, "We continue to remain focused on executing our strategic plan of enhancing our Northeast presence, securing long-term leases with high-caliber tenants, and strengthening our balance sheet so we are well-poised to capitalize on the recovering economy."

In September, Mack-Cali's operating partnership, Mack-Cali Realty, L.P., extended and modified its unsecured revolving credit facility with a group of 23 lender banks. The $600 million unsecured facility, which is expandable to $800 million, was extended for an additional two years and now matures in November 2009.

In September, the Company's Board of Directors declared a cash dividend of $0.63 per common share (indicating an annual rate of $2.52 per common share) for the third quarter 2005, which was paid on October 17, 2005 to shareholders of record as of October 5, 2005.

The Board also declared a cash dividend on its 8 percent Series C cumulative redeemable perpetual preferred stock.

Mack-Cali's consolidated in-service portfolio was 90 percent leased at September 30, 2005, unchanged from June 30, 2005.