ROSELAND, N.J., JAN. 14, 2008 - The Gale Real Estate Services Company, a subsidiary of Mack-Cali Realty Corporation (NYSE:CLI), announced that it has agreed to develop a new 200,000 square-foot class A office building for sanofi-aventis (NYSE: SNY). The building will represent an expansion to the pharmaceutical company's North American headquarters at 55 Corporate Drive in Bridgewater, New Jersey.

Sanofi-aventis presently occupies the entire 670,000 square-foot headquarters facility at 55 Corporate Drive. The new building will be utilized to accommodate ongoing business requirements for the company within the Bridgewater area.

"We are extremely pleased to announce this significant transaction with sanofi-aventis and to be assisting the local Bridgewater community in retaining its position as a mecca for Fortune 500 corporations," said Mark Yeager, president of the Gale Real Estate Services Company. "This announcement reflects Gale's track record of establishing long term relationships with our tenants, and our capacity and demonstrated expertise to respond to their ongoing real estate needs."

In 2004, 55 Corporate Drive was acquired from AT&T Corporation by a joint venture consisting of The Gale Company, SL Green Realty Corp. (NYSE: SLG), and Principal Real Estate Investors. The three-building, 150-acre complex is situated at the crossroads of Route 206 and Interstates 287 and 78. Sanofi-aventis took occupancy of the complex for its North American headquarters in mid-2006.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali Realty Corporation and chairman and chief executive officer of the Gale Real Estate Services Company, stated, "This development is an excellent example of the kind of relationship-driven growth opportunities we anticipated when Mack-Cali and Gale joined forces. We look forward to being a part of this exciting project."

Robert Donnelly, vice chairman of Cushman & Wakefield of New Jersey, and Jeffrey Zell, president and chairman of JM Zell Partners, advised sanofi-aventis in the transaction.

About Gale Real Estate Services Company
A subsidiary of Mack-Cali Realty Corporation, Gale Real Estate Services Company offers value enhancement and client service encompassing investment/development, marketing/leasing, asset management, construction, property/facility management, and corporate advisory services, financing, and asset disposition. Additional information on Gale Real Estate Services Company is available on the company's Web site at www.thegalecompany.com.

###

Contact Information:

Vickie Bello
Beckerman Public Relations
(908) 781-6420