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Press Releases

Date	Title
7/31/98	Vornado's Board of Trustees declares a quarterly dividend on Common Shares of $.40 per share.
7/29/98	Vornado purchased $50 million of Capital Trust's 8.25% Step-Up Convertible Trust Securities.
7/24/98	Vornado acquired 770 Broadway, a 1,000,000 sq. ft. Manhattan office building.
7/2/98	Vornado acquired 60% of the assets of Carmar Group, consisting of five cold storage distribution warehouses in the midwest and southeast United States.
6/15/98	Vornado acquired 60% of the assets of Freezer Services,Inc., consisting of nine cold storage warehouses in the central United States.
6/12/98	Vornado's Board of Trustees declares a quarterly dividend on Preferred Shares.
6/2/98	Vornado entered into an agreement to acquire the leasehold interest in 888 Seventh Avenue and simultaneously acquired 40 Fulton Street.
5/21/98	Vornado entered into an agreement to acquire 60% of the assets of the Carmar Group cold storage warehouse business.
5/7/98	Vornado's operating results for the three months ended March 31, 1998.
5/4/98	Vornado acquired an additional 40% interest in the Hotel Pennsylvania, increasing its ownership to 80%.