FOR IMMEDIATE RELEASE

THE MERCHANDISE MART ANNOUNCES FOUR NEW CASUAL FURNISHINGS SHOWROOMS

Casual furnishings market continues to flourish within The Merchandise Mart

CHICAGO (July 20, 2004) — Merchandise Mart Properties, Inc. (MMPI) is pleased to welcome four new casual showrooms to the 16th floor of the Chicago Merchandise Mart. Gensun, the Anacara Company, Fire Stone Home Products and Accents by Shae, a division of Pacific Casual, will move into The Merchandise Mart in summer 2004, collectively occupying more than 8,000 square feet of showroom space. The addition of these high-end showrooms now brings The Mart’s residential/casual floors into 100-percent occupancy, while fulfilling retailers and designers desire to shop one location with the most products offered, and to satisfy the growing trend of living and entertaining outdoors.

“Outdoor living and entertaining is becoming more important to consumers as they are expressing more interest in this market. These new showrooms present an expanded product offering to the casual furnishings industry, including indoor/outdoor accents, outdoor fireplaces, grills and casual furniture,” said Jack Shelburne, vice president of leasing, casual and residential furnishings, MMPI. “The Merchandise Mart is proud to welcome these new showrooms and we look forward to the grand openings.”

Outdoor furniture manufacturer Gensun, formerly known as Genercon, will be in space 1645. From quality cast iron furniture to exquisite gazebos, Gensun’s amazing line of Outdoor Living products is sure to impress designers and bring new flair to The Mart’s impressive casual showroom list. Gensun’s parent company, Genercon is a veteran in the casual furnishings market and is looking forward to introducing Gensun to The Mart. Gensun is enthusiastic to provide consumers with its products and services and made its initial presentation in mid-July.

“We are greatly looking forward to our opening at The Merchandise Mart,” said Jan Trinkley, executive vice president at Gensun. “We are eager to show our dealers that we are committed to providing them with the services they deserve, and we understand that The Mart is the place to be to make business happen.”

Another new showroom to The Mart is Connecticut-based Anacara Company in space 16-130. Known nationwide for exceptional teak and wicker furniture, the showroom opened in July with “New Beginnings,” a collection of wrought aluminum furniture as well as its classic indoor wicker recreated in outdoor materials.

“Having experienced continued growth for the past 10 years as an 8th floor exhibitor at the Chicago Casual Market, we are extremely excited to have a permanent presence in the building of our industry,” said Salvatore L. Carrara, owner of Anacara Company.

Anacara Company and Fire Stone Home Products will share space 16-130 to highlight its complimentary product lines. The Fire Stone Home Products Company will present the “Fire Stone Collection” for upscale outdoor living. Fire Stone’s offerings include a variety of unique outdoor products: gas and wood burning outdoor fireplaces, gas and electric Legacy convection ranges, campfires, gas lights, outdoor islands and fireplace surrounds, fire pits and pergolas.

“We opened the new showroom in time for pre-market and were delighted with the response,” said Dan Shimek, president of Fire Stone Home Products. “We are excited for the opportunity to provide products to the casual living market that previously had limited availability.” Before creating Fire Stone Home Products, Dan Shimek, along with his brother Ron, founded Heat-N-Glo Fireplace Company in 1975, which later became part of Hearth & Home Technologies.

Lastly, indoor and outdoor accessories manufacturer, Accents by Shae, a division of Pacific Casual, will open its doors in space 1646 of The Merchandise Mart, spanning more than 2,500 square feet.  Accents by Shae will feature a variety of exquisite items that can be used both outdoors and indoors to make any look complete.  From planters and plant stands to fountains and plant trolleys, Accents by Shae can add that personal touch to any space. Also on display will be its extensive selection of old world, stone-cast pottery, as well as handmade Terra Cotta pottery from Manila, Philippines and Vietnam.
 
"Having spent a number of years in business in the casual products industry, we are thrilled to be opening our newest showroom in The Merchandise Mart this summer," said Shae Boles of Accents by Shae. "Because The Mart hosts the two largest shows for our industry–the unofficial pre-market and the Chicago Casual Market–we knew this was the best location to open our latest showroom.  We anticipate great success here."

These brand new showrooms and more will be available for viewing by the trade at the International Casual Furnishings & Accessories Market™ from Sept. 18–22, 2004. Show days and hours are from Saturday to Monday, Sept. 18–20, 8 a.m.–6 p.m.; on Tuesday, September 21, 8 a.m.–8 p.m.; and Wednesday, September 22, 8 p.m.–noon. For more information about the Chicago Casual Market show, call 800.677.6278 [MART] or go to www.merchandisemart.com and follow the Chicago Casual Market link. To exhibit, contact Whitney Gillespie, sales director, MMPI, 312.527.7581 or wgillespie@mmart.com.

PRESS INQUIRIES ONLY:

Elizabeth D. Cooley

Public Relations Manager

Merchandise Mart Properties, Inc.

Phone: 312.527.7555

E-mail: ecooley@mmart.com

Merchandise Mart Properties, Inc. (MMPI) is a trade show and property management firm, specializing in managing buildings devoted to wholesale showrooms and commercial office space. MMPI produces more than 300 trade shows, market events and conferences each year.

MMPI manages The Merchandise Mart, Chicago Apparel Center, and 33 North Dearborn in Chicago; Market Square, the Suites at Market Square, Hamilton Market, Plaza Suites, Furniture Plaza and the National Furniture Mart in High Point, N.C.; the Architects &

Designers Building in New York; the L.A. Mart in Los Angeles; and the Washington Design Center and Washington Office Center in Washington, D.C.

Vornado Realty Trust, owner of MMPI, based in New York City, is a fully integrated equity real estate investment trust. Vornado’s common shares are listed on the New York Stock Exchange and are traded under the symbol VNO.