MACK-CALI REALTY CORPORATION
CALCULATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS

(DOLLAR AMOUNTS IN THOUSANDS)

Mack-Cali Realty Corporation's ratios of earnings to combined fixed charges and preferred stock dividends for each of the five years ended December 31, 2008 were as follows:

		For the Year Ended December 31,

		2008			2007			2006			2005			2004
EARNINGS:
ADD:
	Income from continuing operations before minority interest and equity in earnings from unconsolidated joint ventures	$	104,631		$	94,530		$	110,138		$	92,051		$	107,277
	Fixed charges (see calculation below)		134,178			132,609			142,648			128,966			129,854
	Distributed income of unconsolidated joint ventures		5,784			1,875			2,302			—			1,411
SUBTRACT:
	Capitalized interest		(5,799	)		(5,101	)		(6,058	)		(5,518	)		(3,920	)
	Preference security dividend requirements of consolidated subsidiaries		—			—			—			(3,909	)		(15,636	)
TOTAL EARNINGS:		$	238,794		$	223,913		$	249,030		$	211,590		$	218,986

FIXED CHARGES:
Interest expense (includes amortization of deferred financing costs)		$	128,145		$	127,287		$	136,357		$	119,337		$	110,104
Capitalized interest			5,799			5,101			6,058			5,518			3,920
Interest portion (33 percent) of ground rents on land leases			234			221			233			202			194
Preferred security dividend requirements of consolidated subsidiaries			—			—			—			3,909			15,636
TOTAL FIXED CHARGES:		$	134,178		$	132,609		$	142,648		$	128,966		$	129,854
Preferred stock dividends		$	2,000		$	2,000			2,000			2,000			2,000
TOTAL COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:		$	136,178		$	134,609		$	144,648		$	130,966		$	131,854
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS:			1.8			1.7			1.7			1.6			1.7