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SL Green offers exchange option for holders of senior notes due 2017

SL GreenRealty Corp. said holders may exchange during the fourth quartertheir 3.00% exchangeable senior notes due 2017 that were issued by SL GreenOperating Partnership LP.

The notes exchange option comes amid the closing of SLGreen's common stock at or above 130% of the exchange price for at least 20trading days within a 30-day consecutive trading period ending Sept. 30.

SL Green added that it adjusted the exchange rate for thenotes to 12.5697 common shares per $1,000 principal amount of the notes,effective Sept. 28. The adjustment is a requirement of the company'sdeclaration of a common stock dividend.

Reckson Operating Partnership LP is the guarantor for thenotes.