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Cali Realty Announces Exercise of Over-Allotment Option.

CRANFORD, N.J.--(BUSINESS WIRE)--Nov. 22, 1996--Cali Realty Corporation (NYSE:CLI) today announced the exercise of the underwriter's over-allotment option of 2,287,500 shares of its common stock at $26.625 per share.

The Company completed an offering of 15,250,000 common shares at $26.625 per share on November 18, 1996. Prudential Securities Incorporated acted as the lead underwriter for the offering.

Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing leasing, management, acquisition, development, construction and tenant-related services for its portfolio. The Company owns 50 properties, primarily Class A office and office/flex buildings, totaling approximately 6.5 million square feet. All of the properties are located in New Jersey, New York and Pennsylvania.

Contact: Barry Lefkowitz

Chief Financial Officer

908/272-8000
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Publication:Business Wire
Date:Nov 22, 1996
Words:133
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