Alexander’s Completes Sale of Kings Plaza Mall for $751 Million and Declares Special Long-Term Capital Gain Dividend of

  Alexander’s Completes Sale of Kings Plaza Mall for $751 Million and Declares
  Special Long-Term Capital Gain Dividend of $122.00 Per Share

Business Wire

PARAMUS, N.J. -- December 01, 2012

ALEXANDER’S, INC. (New York Stock Exchange: ALX) announced today that it has
completed the previously announced sale of the KingsPlaza Mall, Brooklyn, New
York to The Macerich Company (NYSE: MAC), for $751 million. Net proceeds from
the sale were approximately $479 million after repaying the existing loan and
closing costs.

The financial statement gain is approximately $600 million and the tax gain is
approximately $624 million.

Alexander’s Board of Directors has declared a special long-term capital gain
dividend of $624 million, or $122.00 per share payable on December 20, 2012 to
stockholders of record on December 10, 2012. The Company has been informed by
the New York Stock Exchange that, in accordance with its rules, THE
EX-DIVIDEND DATE IS EXPECTED TO BE DECEMBER 21, 2012. ACCORDINGLY,
STOCKHOLDERS WHO SELL THEIR SHARES ON OR BEFORE DECEMBER 20, 2012 WILL NOT BE
ENTITLED TO RECEIVE THE SPECIAL DIVIDEND.

Alexander’s, Inc. is a real estate investment trust that has sixproperties in
the greater NewYork City metropolitan area.

Certain statements contained herein may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, risks
associated with the timing of and costs associated with property improvements,
financing commitments and general competitive factors.

Contact:

Alexander’s, Inc.
JOSEPH MACNOW, 201-587-8541