Exhibit 22.1

             M A C K - C A L I   R E A L T Y   C O R P O R A T I O N

NEWS RELEASE

For Immediate Release

Contact:  Barry Lefkowitz               Darren Brandt
          Executive Vice President      Sloane & Company
          And Chief Financial Officer   (212) 446-1861
          (908) 272-8000




MACK-CALI REALTY CORPORATION ADOPTS SHAREHOLDER RIGHTS PLAN

CRANFORD, NJ, - July 2, 1999-Mack-Cali Realty Corporation (NYSE:CLI) announced
today that its Board of Directors has adopted a Shareholder Rights Plan in order
to continue to act in the best interests of the Company and its shareholders if
any hostile takeover activity should occur. The Company's adoption of the Rights
Plan was not taken in response to any known effort to acquire control of the
Company.

Over 3,000 companies have adopted shareholder rights plans, including over
two-thirds of all S&P 500 companies and one-third of publicly traded real estate
investment trusts.

"The shareholder rights plan we have put in place reinforces our commitment to
strong corporate governance and brings us in line with similar measures taken by
the business world's leading companies," commented Mitchell E. Hersh, chief
executive officer. Hersh added, "We believe this action represents a prudent
step towards protecting the investment of our shareholders and preserving the
long-term value of the Company."

To implement the Rights Plan, the Board has declared a distribution of one
right for each outstanding share of common stock to shareholders of record at
the close of business on July 6, 1999. The initial distribution of rights is
not taxable to shareholders. Each right entitles the holder to purchase


from the Company 1/1000th of a share of Series A junior participating
preferred stock at a purchase price of $100 per right, subject to adjustment.
The rights will expire on July 6, 2009, unless redeemed by the Company as
described below.

At the time of the adoption of the Rights Plan, the rights will not be
exercisable and will trade with the Company's common shares. The rights will
become exercisable if a person or group becomes the beneficial owner of 15%
or more of the then-outstanding common shares of the Company or announces an
offer to acquire 15% or more of the Company's then-outstanding common shares.

If a person or group acquires 15% or more of the Company's outstanding common
shares, then each right not owned by the acquiring person or its affiliates will
entitle its holder to purchase, at the right's then-current exercise price, the
number of common shares of the Company having a market value equal to twice the
then-current exercise price. The plan also provides that if, after the rights
become exercisable, the Company is acquired in a merger or other business
combination transaction with an acquiring person or its affiliates or sells 50%
or more of its assets or earnings power to an acquiring person or its
affiliates, each right will entitle its holder to purchase, at the right's
then-current exercise price, a number of the acquiring company's common shares
having a market value of twice the right's exercise price.

Mack-Cali will be entitled to redeem the rights at $.01 per right at any time
until the tenth day following the public announcement of the acquisition by a
person or group of 15% of the Company's common shares. The Rights Plan further
provides that the Company may, at its option, after a person or group has
acquired ownership of 15% or more of the Company's shares, exchange all or part
of the rights (other than the rights held by the acquiror) for shares of
beneficial interest of the Company at an exchange ratio of one share per right.

A summary of the Rights Plan will be mailed to all common shareholders of record
following the record date.

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 254 properties, primarily office and
office/flex buildings, totaling approximately 28.1 million square feet,
located in 12 states and the District of Columbia. The properties, which are
primarily located in the Northeast, enable the Company to provide a full
complement of real estate opportunities to its diverse base of over 2,400
tenants.

Additional information on Mack-Cali Realty Corporation is available on the
Company's Web site at http://www.mack-cali.com.

Certain information discussed in this press release may constitute
forward-looking statements within the meaning of the Federal Securities law.
Although the Company believes that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions, it can give
no assurance that its expectations will be achieved. Forward-looking
information is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected. Among those
risks, trends and uncertainties are the general economic climate; the supply
of and demand for office, office/flex and industrial/warehouse properties;
interest rate levels; 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, reports on Form 8-K, and
annual reports on Form 10-K.

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