Press Release Details

New York, NY, September 13, 2002 - SL Green Realty Corp. (NYSE: SLG) today reported that its Board of Directors has declared a dividend distribution of $0.4425 per common share for the quarter ending September 30, 2002. The dividend is payable October 15, 2002 to shareholders of record on the close of business on September 30, 2002.

This distribution reflects the regular quarterly dividend, which is the equivalent of an annualized distribution of $1.77. Based on yesterday's closing price, the common share annualized dividend yield is 5.5%.

The Company's Board of Directors also declared a dividend distribution on the Company's Series A Preferred Stock for the quarter ending September 30, 2002, of $0.50 per share, payable October 15, 2002 to shareholders of record on the close of business on September 30, 2002.

The distribution reflects the regular quarterly dividend which represents an annualized distribution of $2.00 per share.

SL Green Realty Corp. is a fully-integrated, self administered and self-managed real estate investment trust (REIT) which primarily owns, manages, leases, acquires and repositions office properties in Manhattan.