Vornado Announces Public Offering of $300 Million 5.40% Series L Cumulative Redeemable Preferred Shares

  Vornado Announces Public Offering of $300 Million 5.40% Series L Cumulative
  Redeemable Preferred Shares

Business Wire

PARAMUS, N.J. -- January 17, 2013

Vornado Realty Trust (NYSE: VNO) today announced the pricing of a public
offering of $300 million perpetual 5.40% Series L Cumulative Redeemable
Preferred Shares, at a price of $25.00 per share, pursuant to an effective
registration statement. The offering is expected to close January 25, 2013.
The Company may redeem the Series L Preferred Shares at a redemption price of
$25.00 per share on and after January 25, 2018. BofA Merrill Lynch, Citigroup,
Morgan Stanley, UBS Investment Bank and Wells Fargo Securities, acted as joint
book-running managers.

The Company has granted the underwriters an option exercisable within 30 days
to purchase up to an additional $45 million 5.40% Series L Cumulative
Redeemable Preferred Shares at a price of $25.00 per share.

The Company will use the net proceeds for general business purposes, which
will include the redemption of all of the Company’s outstanding 6.75% Series F
Cumulative Redeemable Preferred Shares and 6.75% Series H Cumulative
Redeemable Preferred Shares, with an aggregate liquidation preference of
$262.5 million, plus any accrued and unpaid dividends through the date fixed
for redemption.

The offering is being made under the Company’s shelf registration statement
filed with the Securities and Exchange Commission. A prospectus supplement
relating to the offering will be filed with the Securities and Exchange
Commission. A copy of the prospectus supplement and accompanying prospectus
relating to the offering may be obtained by contacting BofA Merrill Lynch, 222
Broadway, 7^th Floor, New York, NY 10038, Attention:Prospectus Department, or
e-mail dg.prospectus_requests@baml.com, Citigroup Global Markets Inc. at
Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220,
or by calling (800) 831-9146,  Morgan Stanley & Co. LLC, 180 Varick Street,
New York, NY 10014, Attn: Prospectus Department, or e-mail
prospectus@morganstanley.com, UBS Securities LLC, Attention: Prospectus
Department, 299 Park Avenue, New York, NY 10171, or by calling 1-877-827-6444
(ext. 561-3884) and Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd.,
NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support
or email cmclientsupport@wellsfargo.com, or by calling toll-free at

This communication shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the securities in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification.

Vornado Realty Trust is a fully-integrated equity real estate investment

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.


Vornado Realty Trust
Joseph Macnow, 201-587-1000
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