Reckson Associates and OfficePower Announce the Completion of a Long-T

Reckson Associates and OfficePower Announce the Completion of a Long-Term Lease for Distributed Generation at 1350 Avenue of the Americas

    Business Editors/Real Estate Writers/Energy Writers

    NORWALK, Conn.--(BUSINESS WIRE)--Jan. 10, 2005--

Distributed Generation Agreement for Major New York City Office Building
    Reckson Associates Realty Corp. (NYSE:RA) and OfficePower, L.L.C. announce the completion of a long-term lease agreement for OfficePower to install, own and operate a 720 kW distributed generation plant at 1350 Avenue of the Americas in Manhattan. Using state-of-the-art, environmentally friendly, micro-turbines and cogeneration equipment, OfficePower's installation will meet a substantial portion of the building's ongoing power and thermal load requirements. Importantly, this system will operate both in parallel with Con Edison's distribution network and independent of it during grid outages.
    "This plant, combined with other planned capital projects at the property, will allow us to offer our tenants increased power reliability to meet their growing demands," stated Matt Duthie, Senior Vice President and Director of Operations of Reckson's New York City Office.
    "This installation will provide clean, reliable power that will allow Reckson to efficiently upgrade the quality of its building while helping to reduce peak load requirements on the city's electrical distribution network and significantly decreasing harmful emissions in the Midtown area," said Bob Jannino, President of OfficePower.
    Owned and managed by Reckson, 1350 Avenue of the Americas is a 35 story, 547,000 square foot, first class office building located in Midtown between 54th and 55th Streets. The building has state-of-the-future building access controls, a wide range of floor plates and a host of other tenant amenities. The building's major tenants include such notable companies as Metro Goldwyn Mayer, Harper Collins, Burberry and Remy Martin Amerique.

    Reckson Associates Realty Corp. is a self-administered and self-managed real estate investment trust (REIT) specializing in the acquisition, leasing, financing, management and development of Class A office properties.
    Reckson's core growth strategy is focused on the markets surrounding and including New York City. The Company is one of the largest publicly traded owners, managers and developers of Class A office properties in the New York Tri-State area, with 85 properties comprised of approximately 15.4 million square feet either owned or controlled, or under contract. For additional information on Reckson Associates Realty Corp., please visit the Company's web site at www.reckson.com.

    OfficePower, L.L.C. is a leading provider of on-site power and cogeneration services to multi-tenant office buildings. Headquartered in Norwalk, CONN, the company owns, installs and manages distributed generation plants that provide low emission, high quality, reliable electricity and heating and cooling to both Downtown and Suburban office properties at no capital cost to building owners. For additional information on OfficePower, L.L.C., please visit OfficePower's web site at www.officepowerllc.com.

    EDITOR'S NOTE: Interviews with Joel R. Wilton, CEO, and Robert W. Jannino, President, are available.

--30--JC/ny*

CONTACT: OfficePower, L.L.C. Joel R. Wilson, 203-852-0620 Ext 107 jrw@officepowerllc.com Robert W. Jannino, 203-852-0620 Ext 109 rwj@officepowerllc.com or Juliette Weiland & Co. Public Relations Juliette Weiland, 203-834-1359 jweiland@optonline.net

KEYWORD: CONNECTICUT NEW YORK INDUSTRY KEYWORD: ENERGY UTILITIES REAL ESTATE BUILDING/CONSTRUCTION MARKETING AGREEMENTS SOURCE: OfficePower, L.L.C.

Copyright Business Wire 2004