Press Release Details

New York, NY, March 14, 2003 -- SL Green Realty Corp. (NYSE: SLG) today reported that its Board of Directors has declared a dividend distribution of $0.465 per common share for the quarter ending March 31, 2003. The dividend is payable April 15, 2003 to shareholders of record on the close of business on March 31, 2003.

This distribution reflects the regular quarterly dividend, which is the equivalent of an annualized distribution of $1.86. Based on yesterday's closing price, the common share annualized dividend yield is 6.3%.

The Company's Board of Directors also declared a dividend distribution on the Company's Series A Preferred Stock for the quarter ending March 31, 2003, of $0.50 per share, payable April 15, 2003 to shareholders of record on the close of business on March 31, 2003.

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.