Mack-Cali Appoints Alan Bernikow As Lead Independent Director

EDISON, N.J., March 12, 2014 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE: CLI), a leading owner, manager and developer of class A office and luxury multi-family real estate throughout the Northeast, today announced that Alan S. Bernikow has been appointed to the newly created position of Lead Independent Director of the Mack-Cali Board of Directors. Mr. Bernikow has served on the Mack-Cali Board since 2004. He is currently, and will continue to be, Chairman of the Audit Committee and a member of the Executive Committee.

"We regularly review evolving corporate governance standards and determined that the establishment of the Lead Independent Director role is in the best interests of Mack-Cali and its shareholders," said William L. Mack, Chairman of the Mack-Cali Board. "We are pleased that Al is taking on this additional responsibility and believe that his strong leadership, considerable board experience and personal commitment to the Company make him ideally suited to this new position. The Board and management team will continue to benefit from his expertise and insights as we focus on creating long-term value for shareholders through the Company's ongoing strategic repositioning."

The Lead Independent Director will, among other things, preside at executive sessions of the independent directors, and will facilitate communications among and between the Board's committees and individual directors, including the Chairman and the CEO.

Alan S. Bernikow, Lead Independent Director, is Chairman of the Audit Committee and a Member of the Executive Committee of the Board of Directors of Mack-Cali Realty Corporation. Mr. Bernikow retired as Deputy Chief Executive Officer of Deloitte & Touche. He was a member of Deloitte & Touche's Executive & Management Committee. Prior to joining Touche Ross, the predecessor firm of Deloitte & Touche, Mr. Bernikow was the National Administrative Partner in Charge of all internal administration and finance for the accounting firm of J.K. Lasser & Company. A graduate from CCNY (Baruch College), Mr. Bernikow holds a Bachelor of Business Administration and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

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 owns or has interests in 279 properties, consisting of 267 office and office/flex properties totaling approximately 31 million square feet and 12 multi-family rental properties containing over 3,600 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.

Additional information on Mack-Cali Realty Corporation and the commercial real estate properties and multi-family residential communities available for lease can be found on the Company's website at 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," "potential," "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 projects 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.

SOURCE Mack-Cali Realty Corporation