“AMERICAN IDOL’S” PAULA ABDUL MAKES GUEST APPEARANCE AT L.A. MART®’s

“TAKIN’ IT TO THE BEACH” GIFT FOR LIFE BENEFIT ON JULY 23, 2005

Award-winning recording artist and choreographer to welcome guests at L.A. Mart’s 4th Annual

American Foundation for AIDS Research (amfAR) fundraiser during the

July 2005 Gift & Home Furnishings Market

LOS ANGELES (July 5, 2005) – L.A. Mart® and Merchandise Mart Properties, Inc. (MMPI) are proud to announce that Paula Abdul, star of FOX TV’s primetime hit “American Idol,” will make a special guest appearance to help celebrate this year’s Gift for Life event Saturday, July 23, 2005, from 6-10 p.m., at the

L.A. Mart.

Much-admired as the “heart and soul” of the record-breaking reality series, Abdul – the multi-faceted, highly respected artist and entertainer – will bring her unique charm and popularity to the fundraiser, making “Takin’ it to the Beach” the must-attend Market event for the gift and home furnishings industries.

“We are ecstatic that Paula has agreed to lend her support to our fundraising efforts for amfAR,” said Gerry Seibel, vice president and general manager, L.A. Mart. “Her extraordinary talent and genuine appeal as a performer and humanitarian will guarantee strong attendance, advancing our cause for those living with HIV and AIDS.”

A highlight of L.A. Mart’s eight-day July Gift & Home Furnishings Market,Takin’ it to the Beach” will bring together more than 500 retail buyers, interior designers, showroom owners and managers, and VIP guests for some good times, hot sounds, cool libations and fabulous food ... in a humanitarian effort to help those living with HIV and AIDS.

With cash sponsorship commitments already exceeding last year’s level, L.A. Mart’s fourth annual event is continuing to establish the event as Gift for Life’s second-highest grossing event nationally. L.A. Mart’s GFL fundraiser has raised more than $75,000 to date. An anticipated $100,000 cumulative projection is anticipated at the close of this year’s party.

ABOUT PAULA ABDUL

As an artist who has been equally recognized, awarded and celebrated “in front of the camera” as well as “behind the camera,” Abdul enjoys an extraordinary music career exemplified by worldwide album sales exceeding 30 million records, two No. 1 albums, six No. 1 singles, a Grammy Award, seven MTV Awards, two Emmy Awards, two People’s Choice Awards and two Kid’s Choice Awards. Abdul has also been honored with her star on Hollywood Boulevard and was inducted into Nickelodeon’s Kid’s Choice Hall of Fame.

Currently, Abdul is receiving acclaim as one of the celebrity judges on “American Idol.” Contestants and TV viewers alike have given Abdul high praise for her positive feedback to the hopeful young singers. Behind the camera, Abdul is known as one of the most gifted and recognized choreographers in the industry of film, television, video, stage and live tours.

ABOUT GIFT FOR LIFE

Gift for Life is a volunteer group of professionals from the gift and home industries who are making a difference by raising funds for the American Foundation for AIDS Research (amfAR), the leading U.S. nonprofit organization dedicated to the support of AIDS research, AIDS prevention, treatment education and the advocacy of sound AIDS-related public policy. For more information, call 212.806.1657.

Individual tickets for “Takin’ it to the Beach” are $20 each and may be purchased during the July 2005 L.A. Mart Gift & Home Furnishings Market. For advance ticket or sponsorship sales, call the L.A. Mart at 800.LAMART.4. For more information about “Takin’ It To the Beach” or the L.A. Mart, please visit www.lamart.com (click on “L.A. Mart” under “Properties”).

ABOUT L.A. MART

The L.A. Mart is the pre-eminent center for gift and home furnishings products in the Western United States for the retail and design trade industries. With nearly 300 showrooms encompassing 724,000 square feet of showroom space, the L.A. Mart is dedicated to showcasing a wide array of lifestyle merchandise including gifts, fine furniture and home décor, decorative accessories, tabletop, stationery, collectibles, holiday ideas, gourmet foods, floral, linens, paper products, bath & body items, apparel, children’s giftware and handcrafted products.

The L.A. Mart is centrally located in the heart of the Furniture & Decorative Arts District at 1933 S. Broadway, Los Angeles, Calif., 90007, at the corner of Broadway and Washington Boulevard.

The L.A. Mart is a registered trademark of MMPI. The Gift & Home Furnishings Market is a trademark of MMPI.

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, 350 W. Mart 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 and 7 W New York 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.

MEDIA INQUIRIES ONLY:

Joanna Mineau

Managing Director of Public Relations

Merchandise Mart Properties, Inc. (MMPI)

Phone: 312.527.7074

E-mail: jmineau@mmart.com

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