The shares of the Class B Common Stock will stop trading on the New York Stock Exchange at the close of business on that day. Shares of Class A Common Stock issuable upon exchange of the Class B Common Stock will trade on the New York Stock Exchange under the existing Class A Common Stock symbol RA.

Reckson's board has declared a final cash dividend on the company's Class B holders of record on Nov. 25 in the amount of $.1758 per share, payable on Jan. 12, 2004. This payment will cover the period from Nov. 1 through Nov. 25 and is based on the current quarterly Class B Common Stock dividend rate of $.6471 per share.

A month ago, Reckson, in an effort to focus on class A office properties, said it was selling its 5.9 million-sf Long Island industrial portfolio to Rechler Equity Partners, a company formed and directed by Donald, Roger, Mitchell and Gregg Rechler, for approximately $315.5 million in cash and other consideration. The REIT also reconstituted its board to consist of six independent directors and two inside directors.