ARCHITECTS & DESIGNERS BUILDING IN MANHATTAN EXPANDS THE DESTINATION FOR LUXURY SHOPPING WITH MORE FOR THE KITCHEN AND BATH

New York, NY (Sept. XX, 2005) — Merchandise Mart Properties, Inc. (MMPI), managers of the Architects & Designers Building in east midtown Manhattan, is pleased to announce that the tenth floor of the A&D Building is now devoted exclusively to luxury kitchen and bath showrooms. The inaugural festivities for the official opening of the tenth floor will take place on Wednesday, October 19th.

“Consumer and design professionals will now have a more complete luxury kitchen and bath shopping experience in the Architects & Designers Building," said Katherine M. Flaherty, vice president, building products and special projects for MMPI. “There is no better place in New York to shop directly for the finest products for home building and renovation with more than 20 showrooms that offer the highest level of customer service."

The A&D Building has taken considerable time creating a unique and diverse shopping experience, for professionals in the design trades as well as for savvy consumers. They have made the A & D Building a must-see destination for all who seek out the latest and best in home styles and trends.

The showrooms of Allmilmo Kitchens of New York, Hastings Tile, IL Bagno Collection and Pedini Cucine will now reign on the new tenth floor. These companies represent premier and innovating manufacturers of sleek continental-styled lines. The lines of these showrooms truly create an international flavor and unparalleled resource for extraordinary kitchen & bath cabinetry, furnishings and fixtures.

The inaugural activities on October 19th will provide a first glimpse of the newest additions to the Architects & Designers Building on the tenth floor, complete with a ribbon cutting and cocktail reception. Media please R.S.V.P. to Jackie Paulsen at 312.527.7555 or jpaulsen@mmart.com.

ABOUT ALMILLMÖ

Almillmö -- die phantische kuche (“the fantastic kitchen”) -- is a 40-year-old German-based company, which installed its first kitchen in the United States over 30 years ago. It is especially known for its unique wood and lacquer cabinetry finishes including wenge, lemon tree, teak, zebrano, palisander, lacquer Makassar as well as high gloss black and olive. The company also enjoys a reputation for its flexibility in custom cabinetry sizing and its state-of-the-art interior accessorizing, such as cutlery inserts and pantry pullouts. For additional information, visit the Allmilmö Web site at www.allmilmo.com.

ABOUT HASTING TILE & IL BAGNO COLLECTION

Hastings Tile & IL Bagno Collection has traditionally represented trend-setting European lines for kitchen and bath, manufactured in ceramic, porcelain, glass, stone and other materials. The cutting-edge lines include not only the basic fixtures, but also accessories like mirrors, faucets and high-style tile. For additional information, visit the Hastings Web site at www.hastingstilebath.com.

ABOUT PEDINI CUCINE

Pedini, known for its advanced technical qualities, is credited as one of the first to develop today’s modular kitchen, including the recently introduced Integra system, which incorporates an ergonomically correct J-shaped peninsula configuration. Other noteworthy Pedini Cucine configurations include its Artika line of circular kitchen islands. Pedini has a varied assortment of wood and lacquer finishes and an ability to customize any color - from icy blue to racy orange – according to a customer’s specifications. The Pedini brand has been producing kitchens since 1956. For additional information visit the company website at: www.pedininyc.com

ABOUT THE A&D BUILDING

The Architects & Designers Building, located at 150 East 58th Street -- between Lexington and Third Avenues -- is home to the New York metro area’s largest collection of luxury showrooms for kitchen, bath and home décor products. With its newly expanded ninth and tenth floors, the A&D offers shoppers’ access to more than 30 showrooms and thousands of distinctive and exclusive products in one accessible yet exclusive place. Open Monday through Friday, 9 am to 5 pm, the building is often described as “New York’s ultimate showroom resource.” Visit www.adbuilding.com for a complete list of showrooms and information on upcoming events.

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

MEDIA INQUIRIES ONLY:

Jackie Paulsen

Director of Public Relations

Phone: 312.527.7555

E-mail: jpaulsen@mmart.com