NEW YORK, June 5 /PRNewswire/ -- SL Green Realty Corp. (NYSE: SLG)
announced today that it has closed on the purchase of 440 Ninth Avenue, and
has assigned to a third party its contract to acquire the property located at
38 East 30th Street.  The purchase of both Manhattan buildings, as well as
that of 116 Nassau Street in downtown Brooklyn -- from affiliates of Murray
Hill Properties -- were announced last April.  Offers for the assignment of
the contract for the Brooklyn property are being solicited.  It is expected
that the Company will accept an offer for assignment by the end of June.
    The 18-story, 340,000 square foot building at 440 Ninth Avenue was
purchased for approximately $32 million in cash, which was provided from the
Company's recent secondary offering.  It is situated at 35th Street and Ninth
Avenue, in the heart of the redeveloping Pennsylvania Station area.  The
building is currently 75% leased, with major tenants including Duane Reade,
Holmes Protection and Self-Help Community Services, Incorporated.
    The 12-story, 91,000 square foot building at 38 East 30th Street is
located in the Park Avenue South/Flatiron District.  The building initially
contracted for purchase by SL Green was sold to Brook LLC by an assignment of
its purchase contract.
    The 100,000 square foot, 7-story building at 116 Nassau Street is located
in the heart of downtown Brooklyn, equidistant from the entrances to the
Brooklyn and Manhattan Bridges, which provides for immediate access to
Manhattan's Financial District and the FDR Drive.  The property is presently
100% leased by two tenants -- The Board of Education of the City of New York
and Federation Employment Guidance Services.
    Subsequent to the acquisition, SL Green's portfolio consists of 16
properties, encompassing approximately 5.4 million rentable square feet.
    SL Green Realty is a fully integrated, self-administered and self-managed
real estate investment trust ("REIT") which primarily owns, manages, leases,
acquires and repositions Class B office properties in Manhattan.

    This press release contains forward-looking information based upon the
Company's current best judgment and expectations.  Actual results could vary
from those presented herein.  The risks and uncertainties associated with the
forward-looking information include the strength of the commercial office real
estate market, competitive market conditions, general economic growth,
interest rates and capital market conditions.  For further information, please
refer to the Company's filings with the Securities and Exchange Commission.

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