Exhibit 99.1

Mack-Cali
Realty Corporation

THIRD QUARTER 2002

Supplemental Operating and Financial Data

        This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Company. Any offers to sell or solicitations of the Company shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the "10-Q") filed by the Company for the same period with the Securities and Exchange Commission (the "SEC") and all of the Company's other public filings with the SEC (the "Public Filings"). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-Q and the Public Filings. Any investors' receipt of, or access to, the information contained herein is subject to this qualification.

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INDEX

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DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

        Certain information discussed in this literature may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws, including Section 21E of the Securities Exchange Act of 1934. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements relate to, without limitation, the Company's future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "continue" or comparable terminology. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. 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. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the risks, trends and uncertainties are changes in the general economic conditions, including those affecting industries in which the Company's principal tenants compete; any failure of the general economy to recover timely from the current economic downturn; the extent of any tenant bankruptcies; the Company's ability to lease or re-lease space at current or anticipated rents; changes in the supply of and demand for office, office/flex and industrial/warehouse properties; changes in interest rate levels; changes in operating costs; the Company's ability to obtain adequate insurance, including coverage for terrorist acts; the availability of financing; and other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and Annual Reports on Form 10-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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I. COMPANY BACKGROUND

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I. COMPANY BACKGROUND

About the Company

        Mack-Cali Realty Corporation (NYSE: CLI) is one of the largest real estate investment trusts (REITs) in the United States with a total market capitalization of $4.1 billion at September 30, 2002. Mack-Cali has been involved in all aspects of commercial real estate development, management and ownership for over 50 years and has been a publicly-traded REIT since 1994. Mack-Cali owns or has interests in 262 properties, primarily class A office and office/flex buildings, totaling approximately 29.0 million square feet, serving as home to approximately 2,000 tenants. The properties are located primarily in suburban markets of the Northeast, many with adjacent, Company-controlled developable land sites able to accommodate up to 8.9 million square feet of additional commercial space.

History

        Established over 50 years ago, in 1994 the New Jersey-based firm became a publicly-traded company listed on the New York Stock Exchange under the ticker symbol CLI. Through combinations with some of the top companies in the real estate industry—most notably New Jersey-based Mack Company and Westchester, New York-based Robert Martin Company—Mack-Cali has become one of the leading real estate companies in the country.

Strategy

        Mack-Cali's strategy is to be a significant real estate owner and operator in its core, high-barriers-to-entry markets, primarily in the Northeast.

Summary
(as of September 30, 2002)

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Board of Directors

Executive Officers

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Equity Research Coverage

Company Contact Information

Mack-Cali Realty Corporation
Investor Relations Department
11 Commerce Drive
Cranford, New Jersey 07016-3599
Phone: (908) 272-8000    Web: www.mack-cali.com
Fax: (908) 272-6755    E-mail: investorrelations@mack-cali.com

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II. FINANCIAL HIGHLIGHTS

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II. FINANCIAL HIGHLIGHTS

Quarterly Summary

        Funds from operations (FFO), after adjustment for straight-lining of rents, for the quarter ended September 30, 2002 amounted to $70.5 million, or $0.98 per share, versus $64.3 million, or $0.91 per share, for the quarter ended September 30, 2001, a per share increase of 7.7 percent. For the nine months ended September 30, 2002, FFO, after adjustment for straight-lining of rents, amounted to $208.5 million, or $2.91 per share, versus $194.2 million, or $2.73 per share, for the same period last year, a per share increase of 6.6 percent.

        Cash available for distribution (CAD) for the third quarter 2002 equaled $61.6 million, or $0.86 per share, versus $53.5 million, or $0.76 per share, for the same quarter last year, a per share increase of 13.2 percent. For the nine months ended September 30, 2002, CAD equaled $179.8 million, or $2.51 per share, versus $165.3 million, or $2.33 per share, for the same period last year, an increase of 7.7 percent on a per share basis.

        Total revenues for the third quarter 2002 decreased to $143.4 million from $144.0 million for the same quarter last year, a decrease of 0.4 percent. For the nine months ended September 30, 2002, total revenues amounted to $428.0 million, a decrease of 1.3 percent over total revenues of $433.5 million for the same period last year.

        Net income for the third quarter 2002 equaled $34.2 million, or $0.59 per share, versus $24.0 million, or $0.43 per share, for the same quarter last year, a per share increase of 37.2 percent. For the nine months ended September 30, 2002, net income equaled $109.9 million, or $1.91 per share, versus $98.4 million, or $1.74 per share, for the same period last year, an increase of 9.8 percent on a per share basis.

        All per share amounts presented above are on a diluted basis; basic per share information is included in the accompanying financial tables.

        The Company had 57,669,818 shares of common stock, 7,814,806 common operating partnership units and 215,894 $1,000-face-value preferred operating partnership units outstanding as of quarter end. The outstanding preferred units are convertible into 6,230,707 common operating partnership units. Assuming conversion of all preferred units into common units, the Company had a total of 71,715,331 shares/common units outstanding at September 30, 2002.

        As of September 30, 2002, the Company had total indebtedness of approximately $1.8 billion, with a weighted average annual interest rate of 7.0 percent. Mack-Cali had a total market capitalization of $4.1 billion and a debt-to-undepreciated assets ratio of 41.5 percent at September 30, 2002. The Company had an interest coverage ratio of 3.8 times for the quarter ended September 30, 2002.

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        The following is a summary of the Company's recent activity:

Acquisitions

        During the quarter, the Company acquired two office properties, aggregating 143,417 square feet, for approximately $16.7 million, as follows:

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The Company acquired a 75,668 square-foot condominium interest in 3 Skyline Drive, a 113,098 square-foot office building located in Hawthorne, New York, for approximately $9.3 million; and



•

In August, the Company acquired 25 Commerce Drive, a 67,749 square-foot office building located in Cranford, New Jersey, for approximately $7.4 million.

More recently, on November 1, the Company acquired 1633 Littleton Road, a 57,722 square-foot office building located in Parsippany, New Jersey, for approximately $11.4 million.

Development

        A summary of the Company's development projects at its Harborside Financial Center, located on the Hudson River Waterfront in Jersey City, New Jersey, is as follows:

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Harborside Plaza 5, a 34-story, 980,000 square-foot class A office tower with a 1,270-car parking garage pedestal, commenced initial operations in September. The property is approximately 58 percent leased (which includes a lease with a tenant for 68,000 square feet, or 6.9 percent of the property, for which the tenant has informed the Company that it is experiencing financial difficulties and has failed to meet certain monetary obligations under the lease, including the payment of rent);



•

Harborside Plaza 10, a 19-story, 575,000 square-foot class A office building, commenced initial operations in September. The property is 100 percent leased to Charles Schwab & Co., Inc.; and



•

Hyatt Regency South Pier Hotel, a 350-room luxury hotel that was built on the south pier of Harborside through a joint venture between Mack-Cali and Hyatt, commenced initial operations in July.

Property Sales

        During the quarter, in July, the Company exited Florida by selling One Mack-Cali Center, a 297,429 square-foot office building located in Tampa, for approximately $23.7 million.

        More recently, in October, the Company exited another non-core market by selling its remaining three office properties in Arizona, aggregating 416,967 square feet, for approximately $43.0 million.

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Financing Activity

        In September, the Company raised its quarterly dividend by 1.6 percent to $0.63 per share ($2.52 per share on an annualized basis), effective for the quarter ended September 30, 2002. This increase represented the eighth consecutive year in which the Company has increased its quarterly dividend.

        Also in September, the Company's operating partnership, Mack-Cali Realty, L.P., refinanced its unsecured revolving credit facility with a group of 14 lender banks, arranged by J.P. Morgan Securities, Inc. and Fleet Securities, Inc. The $600 million unsecured facility, which is expandable to $800 million, carries an interest rate equal to LIBOR plus 70 basis points, representing a reduction of 10 basis points from the previous facility. The interest rate is subject to adjustment, on a sliding scale, based upon a change in the partnership's unsecured debt ratings. The credit facility, which also carries a facility fee of 20 basis points, has a three-year term with a one-year extension option.

        In accordance with the Company's Share Repurchase Program, during the third quarter, the Company purchased 54,000 shares of its outstanding common stock for an aggregate cost of approximately $1.7 million, representing an average price of $30.97 per share. Thus far in 2002, the Company purchased 186,700 shares of its outstanding common stock for an aggregate cost of approximately $5.8 million, representing an average price of $30.84 per share.

Leasing Information

        Mack-Cali's consolidated in-service portfolio was 93.0 percent leased at September 30, 2002, compared to 93.9 percent at June 30, 2002.

        For the quarter ended September 30, 2002, the Company executed 190 leases totaling 1,338,585 square feet, consisting of 1,048,271 square feet of office space, 229,083 square feet of office/flex space and 61,231 square feet of industrial/warehouse space. Of these totals, 346,564 square feet were for new leases and 992,021 square feet were for lease renewals and other tenant retention transactions.

        Highlights of the quarter's leasing transactions include:

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BT Harborside Urban Renewal Corporation, a division of Deutsche Bank, a global banking and securities firm, signed a lease renewal through December 31, 2004 for 385,000 square feet at Harborside Financial Center Plaza One in Jersey City, New Jersey. The 400,000 square-foot building is 100 percent leased;



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Cendant Mortgage Corporation, a wholly-owned subsidiary of Cendant Corporation, renewed its lease for 74,472 square feet for five years at 228 Strawbridge Drive in Moorestown, New Jersey. Cendant Mortgage leases the entire building, which is located in Moorestown Corporate Center;



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Fabrication Enterprises, Inc., a supplier of physical and occupational therapy products, signed a new ten-year lease for 20,500 square feet at 3 Westchester Plaza in Elmsford, New York. The 93,500 square-foot office/flex property, located in Cross Westchester Executive Park, is 94.6 percent leased;



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Aeropostale, Inc., a retail apparel company, signed new leases for 20,000 square feet for an average term of 5.8 years at 201 Willowbrook Boulevard in Wayne, New Jersey. The 178,329 square-foot property is 61.2 percent leased;



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McCarthy, Fingar, Donovan, Drazen & Smith, L.L.P., a law firm, signed a renewal for 20,000 square feet for seven years at 11 Martine Avenue in White Plains, New York. Located at Westchester Financial Center, the 180,000 square-foot class A office property is 100 percent leased; and



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The Medicines Company, a developer of pharmaceutical products, signed a new ten-year lease for 16,779 square feet at 8 Campus Drive in Parsippany, New Jersey. The 215,265 square-foot class A office property is 86.2 percent leased.

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Key Financial Data

(a)

Includes preferred units on a converted basis into common units.

(b)

Calculated based on weighted average common shares outstanding, assuming redemption of operating partnership common units into common shares.

(c)

Calculated based on shares and units included in basic per share/unit computation, plus dilutive Common Stock Equivalents (i.e. convertible preferred units, options and warrants).

(d)

Includes preferred units on a converted basis into common units and minority interests in partially-owned properties.

(e)

Funds from Operations ("FFO") is calculated in accordance with the National Association of Real Estate Investment Trusts (NAREIT) definition, as published in October 1999, after adjustment for straight-lining of rents and non-recurring charges.

(f)

Cash Available for Distribution ("CAD") is defined as funds from operations, after adjustment for straight-lining of rents and non-recurring charges, minus non-incremental revenue generating tenant improvements, non-incremental revenue generating leasing commissions and recurring capital expenditures.

(g)

Reflects square feet leased at the Company's consolidated in-service portfolio, excluding in-service development properties in lease-up.

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Same Store Results and Analysis
(dollars in thousands)

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Unconsolidated Joint Ventures Summary
(dollars in thousands)

Breakdown of Unconsolidated Joint Ventures

(a)

The joint venture also has a parking lot operation on adjacent land.

(b)

Property consists of a three-story theater and retail complex.

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Unconsolidated Joint Venture Financial Information

        The following is a summary of the financial position of the unconsolidated joint ventures in which the Company had investment interests as of September 30, 2002 and December 31, 2001:

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        The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the three month ended September 30, 2002 and 2001:

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        The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the nine months ended September 30, 2002 and 2001: