POLIFORM USA RENEWS LEASE AND EXPANDS

TO FULL FLOOR IN A&D BUILDING

Leading Importer Creates Dramatic 17,500-Square-Foot

Flagship Showroom For Its Four Signature Brands

New York, NY (Sept. 1, 2005) – Merchandise Mart Properties, Inc., manager of the Architects & Designers Building, is pleased to announce that Poliform USA, Inc. – importer/distributor of Poliform closet and wall systems, Flexform furniture, Varenna Kitchens and TRE-Piú interior doors – will combine and expand its three current A&D showrooms into one dramatic full-floor showcase. The entire sixth floor will be turned into a new flagship showroom for Poliform’s high-profile Italian brands in the spring of 2006.

Poliform USA’s airy 17,500-square-foot sixth floor environment will offer builders, architects, interior designers and consumers a total shopping experience for contemporary furnishings that will be unique to the industry. The space will be transformed into a striking showroom where the finest Italian wall units, semi-customized closet systems, sofas and chairs, dining and bedroom furnishings, interior doors and contemporary kitchens will all be presented within one contiguous architectural space.

“Our experience in the A&D Building, which is associated with the best brands in the furnishings industry, has been very positive so we were delighted when the opportunity arose to expand our presence by taking over the over the entire sixth floor,” said David Yarom, chairman of the board of Poliform USA, Inc. “This move will enable us to consolidate our lines and create the consummate total home shopping experience for our customers. It not only will provide us with a compelling setting where our brands complement each other, but also serves as the flagship showcase for our 29 other dealer/showrooms throughout the United States and Canada.”

Katherine M. Flaherty, MMPI’s vice president, building products and special projects, said, “Poliform is a real favorite of architects, interior designers, custom developers and builders as well as discerning homeowners in the market for well-designed product. The opportunity to feature these world-class brands in a full-floor setting under the imprimatur of Poliform USA will enable everyone to experience superior quality and design in one sweeping space. This flagship showcase will create a new standard and shopping experience for the design trades and savvy consumers. We are very excited about Poliform’s expansion and long-term commitment to the A&D Building.”

ABOUT POLIFORM USA

Poliform USA is the sole United States and Canadian importer/distributor of Poliform Spa, an Italian manufacturer of high-end wardrobe systems, wall units, beds and kitchens. Collaborating with Europe’s leading industrial architects such as Paolo Piva and Carlo Colombo, the company has brought fashion, function and technology together to create unique and timeless design reflecting the personality of the contemporary homeowner. For additional information, visit the company Web site at www.poliformusa.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 developed sixth floor, the A&D Building 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:

Linda Foa

Phone: 212.644.2766

E-mail: lfoa@mmart.com