VNO-PRL

Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P (the Operating Partnership). It owns and operates office and retail properties with a concentration in the New York City metropolitan area. It operates through two segments: New York and Other. It also has a 32.4% interest in Alexander’s, Inc. (Alexander’s), which owns seven properties in the greater New York metropolitan area, as well as interests in other real estate and related investments. Its New York segment consists of 27.9 million square feet in 87 properties. Its Other segment consists of 3.7 million square foot theMART in Chicago, a 70% controlling interest in a three-building office complex containing 1.8 million square feet and a 25% in the Vornado Capital Partners Real Estate Fund (the Fund) and Crowne Plaza Times Square Hotel Joint Venture (the Crowne Plaza Joint Venture). The Fund has four investments.