SL Green Announces Sale of Two Midtown Office Properties

The properties are located at 286 Madison Avenue and 290 MadisonAvenue, in the vicinity of Grand Central Station. The former is a22-story, 112,000-square-foot tower facing on 40th Street, while theother is a six-story building with approximately 37,000 rentablesquare feet. The buildings are 99.8% and 100% leased, respectively.

Andrew Mathias, Chief Investment Officer for SL Green, stated, "Wecontinue to look for opportunities to realize gains on our non-coreinvestments and recycle capital into high-quality properties that webelieve will deliver superior growth. This sale was timed to takeadvantage of the continued strength of property pricing in the GrandCentral submarket."

Richard Baxter and Ron Cohen of Cushman & Wakefield acted asexclusive agents for SL Green.

Company Profile

SL Green Realty Corp. is a self-administered and self-managed realestate investment trust, or REIT, that predominantly acquires, owns,repositions and manages a portfolio of Manhattan office properties. Asof March 31, 2006, the Company owned 29 office properties totaling18.6 million square feet. SL Green's retail space ownership totals219,200 square feet at seven properties. The Company is the onlypublicly held REIT that specializes exclusively in this niche.

To be added to the Company's distribution list or to obtain thelatest news releases and other Company information, please visit ourwebsite at www.slgreen.com or contact Investor Relations at212-216-1601.

Forward-looking Information

This press release contains forward-looking information based uponthe Company's current best judgment and expectations. Actual resultscould vary from those presented herein. The risks and uncertaintiesassociated with forward-looking information in this release includethe strength of the commercial office real estate markets in New York,competitive market conditions, unanticipated administrative costs,timing of leasing income, general and local economic conditions,interest rates, capital market conditions, tenant bankruptcies anddefaults, the availability and cost of comprehensive insurance,including coverage for terrorist acts, and other factors, which arebeyond the Company's control. We undertake no obligation to publiclyupdate or revise any of the forward-looking information. For furtherinformation, please refer to the Company's filing with the Securitiesand Exchange Commission.