EASTERN ACCENTS TO OPEN NEW SHOWROOM AT THE MERCHANDISE MART

DURING THE 2005 JANUARY CHICAGO GIFT & HOME MARKET™

CHICAGO (Nov. 11, 2004) – Merchandise Mart Properties, Inc. (MMPI) is proud to announce a long-term lease agreement with Chicago-based Eastern Accents, a to-the-trade manufacturer of luxury bedding and soft home furnishings. The new showroom in space 1572 of Chicago’s Merchandise Mart will celebrate its grand opening on Jan. 21, 2005, from 3-7 p.m. during the January Chicago Gift & Home Market,™ which will be held Jan. 19-26, 2005.

“Eastern Accents has long been a staple in our Market Suites during the January and July Markets. Its products represent a wonderful balance of high style, creativity and function and has become a favorite of retailers,” said Megy Karydes, director of marketing, Chicago Gift & Home Market. “We are so very happy to welcome Eastern Accents in what is sure to be a great showroom debut this January.”

Since its inception in a Chicago loft, Eastern Accents is now a full-service bedding and accessory company offering products that reflect the style and diversity of the ever-changing arena of home décor. Its new showroom will feature a variety of the traditional style of Eastern Accents bedding and accessories and the contemporary look of its Feathersound division, as well as embroidered gift pillows called Leyla’s. Each collection features premium fabrics and trimmings with an emphasis on design and craftsmanship.

In addition, Eastern Accents has other showrooms with MMPI in the L.A. Mart® in Los Angeles, Calif., and Suites at Market Square in High Point, N.C. “We are very pleased to have expanded our relationship with MMPI,” said Ridvan Tatargil, owner of Eastern Accents. “We enjoy working with The Mart’s entire team and look forward to a long partnership.”

Chicago Gift & Home Market

The Chicago Gift & Home Market also has expanded by 100,000 square feet on floors 7 and 8 bringing the total dedicated square footage of the Market to 1,150,000. The expansion includes an even larger home section, as well as the relocation and growth of Beckman’s Handcrafted Gift Show™ Chicago to the 7th floor. The existing 8th-floor temporary exhibit space has been completely refurbished to feature an improved floor plan and updated look. The Chicago Gift & Home Market runs Jan. 19-26, 2005 (with temporary exhibitors and Beckman’s Handcrafted Gift Show Chicago held Jan. 22-25). A ribbon-cutting ceremony for the 7th and 8th floors will take place Saturday, Jan. 22 at 11 a.m. Buyers will be treated to upbeat music, complimentary mimosas and appetizers as the nearly 1,000 exhibitors are welcomed.

For more information on MMPI and the January 2005 Chicago Gift & Home Market, please visit www.merchandisemart.com. For more information on Eastern Accents, please visit www.easternaccents.com. For more information on Leyla’s, please visit www.leylas.com.

The Chicago Gift & Home Market is a trademark of Merchandise Mart Properties, Inc. (MMPI). 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 real estate investment trust. Vornado’s common shares are listed on the New York Stock Exchange and are traded under the symbol VNO. The Chicago Gift & Home Market is a trademark of MMPI.

MEDIA INQUIRIES ONLY:

Joanna Mineau

Director of Public Relations

Merchandise Mart Properties, Inc.

Phone: 312.527.7074

E-mail: jmineau@mmart.com

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