Press Release


Joseph Macnow
(201) 587-1000
July 31, 2008
Vornado Declares Quarterly Dividends On Preferred Shares

     PARAMUS, NEW JERSEY......VORNADO REALTY TRUST (NYSE:VNO) today announced that its Board of Trustees has declared the following quarterly preferred dividends:

Series A Convertible    $ .8125000 per share 
Series E Cumulative Redeemable    $ .4375000 per share 
Series F and H Cumulative Redeemable    $ .4218750 per share 
Series G and I Cumulative Redeemable    $ .4140625 per share 


     In each case, dividends are payable on October 1, 2008 to shareholders of record on September 15, 2008.

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