Empire State Building's Sustainability Retrofit Program Achieves Target With ENERGY STAR Rating of 90

Iconic Landmark Receives ENERGY STAR Recognition from the Environmental Protection Agency

NEW YORK, May 27, 2010 - The ground-breaking energy efficiency work at the Empire State Building
has achieved a milestone on its journey for sustainability leadership in the
commercial real estate community by receiving an ENERGY STAR rating of 90
from the United States Environmental Protection Agency. The designation for
the Empire State Building signifies that the property's energy performance is
in the top tenth percentile of all commercial office buildings, new and old,
across the nation. An ENERGY STAR rating of 90 was a stated objective in the
iconic property's overall sustainability retrofit initiative launched in
April 2009.

ENERGY STAR is a governmental recognition program that offers
organizations access to resources that help evaluate their building's energy
performance, reduce energy usage and lessen their overall carbon footprint.
To obtain a certificate, a number of structural and energy output goals must
be met and verified by a licensed engineer. Only buildings with a rating of
75 points or above (out of 100), are eligible for certification.

Anthony E. Malkin of Malkin Holdings which directs the operation of the
international icon on behalf of building owner Empire State Building Company
stated, "Receiving an ENERGY STAR rating of 90 out of 100 is a significant
accomplishment for any building, and an especially groundbreaking
accomplishment for our Pre-War Trophy Empire State Building." He added, "With
the building's overall energy efficiency retrofit project still in progress,
we may see a higher number when all of the initiatives are completed."

In April 2009, President Bill Clinton, New York City Mayor Michael
Bloomberg, and the Empire State Building partnership team consisting of the
Clinton Climate Initiative, Johnson Controls, Jones Lang LaSalle, and the
Rocky Mountain Institute announced details of an energy retrofit as part of a
US$550 million upgrade program. The overall project is aimed at reinventing
the iconic landmark by restoring and recreating its Art Deco grandeur and
adding state-of-the-art enhancements, while at the same time reducing energy
consumption, operating costs and carbon emissions. Most importantly, the work
pioneered by the team is a replicable model for similar projects around the
world.

Upon completion in 2013, the US$20 million sustainability retrofit is
expected to reduce energy consumption by more than 38 percent and will save
the building over US$4.4 million per year. Achieving a high ENERGY STAR rating
was one of the initial goals outlined by the ESB management team, and was
accomplished in less than 13 months.

The retrofit is comprised of eight key initiatives:

    1. Window Light Retrofit: Refurbishment of approximately 6,500
       thermopane glass windows, using existing glass and sashes to create
       triple-glazed insulated panels with new components that dramatically
       reduce both summer heat load and winter heat loss.

    2. Radiator Insulation Retrofit: Added insulation behind radiators to
       reduce heat loss and more efficiently heat the building perimeter.

    3. Tenant Lighting, Daylighting and Plug Upgrades:
       Introduction of improved lighting designs, daylighting controls, and
       plug load occupancy sensors in common areas and tenant spaces to
       reduce electricity costs and cooling loads.

    4. Air Handler Replacements: Replacement of air handling units with
       variable frequency drive fans to allow increased energy efficiency in
       operation while improving comfort for individual tenants.

    5. Chiller Plant Retrofit: Reuse of existing chiller shells
       while removing and replacing "guts" to improve chiller efficiency and
       controllability, including the introduction of variable frequency
       drives.

    6. Whole-Building Control System Upgrade: Upgrade of existing building
       control system to optimize HVAC operation as well as provide more
       detailed sub-metering information.

    7. Ventilation Control Upgrade: Introduction of demand control ventilation
       in occupied spaces to improve air quality and reduce energy required to
       condition outside air.

    8. Tenant Energy Management Systems: Introduction of individualized,
       web-based power usage systems for each tenant to allow more efficient
       management of power usage.

In addition to ENERGY STAR certification, the work at the Empire State
Building would qualify under current standards for LEED-EB Gold certification
from the United States Green Building Council.

About the Empire State Building

Soaring 1,454 feet above Midtown Manhattan, the Empire State Building is
the "World's Most Famous Office Building." With new investments in
infrastructure, public areas and amenities, the Empire State Building has
attracted first-rate tenants in a diverse array of industries from around the
world. The skyscraper's robust broadcasting technology supports all major
television and FM radio stations in the New York metropolitan market. The
Empire State Building was named America's favorite building in a poll
conducted by the American Institute of Architects. The Empire State Building
Observatory is one of the world's most beloved attractions and is the
region's #1 tourist destination. For more information on the Empire State
Building, please visit www.esbnyc.com.

    Contact: Edelman Public Relations,
    Daniel Hernandez Lyon, +1-212-277-3738, daniel.hernandez@edelman.com

Edelman Public Relations, Daniel Hernandez Lyon, +1-212-277-3738, daniel.hernandez at edelman.com