CLEVELAND, Aug. 10 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. today announced major tenant signings in the Company's Pittsburgh-area office properties.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080515/FRSTCTYLOGO )

Direct Energy Business will make Liberty Center its new headquarters and has signed a lease for approximately 52,300 square feet of space. Direct Energy Business, a Direct Energy company, is one of North America's largest commercial retail energy suppliers. Liberty Center is a 526,000-square-foot complex adjacent to the Pittsburgh Convention Center and incorporates the 616-room Westin Convention Center Hotel and the 27-story Federated Investors office tower.

Yellow Submarine Marketing Communications, Inc., a consumer, entertainment and retail ad agency, has signed a lease for approximately 13,100 square feet of space in the Bessemer Court building at the Station Square mixed-use development. Station Square is a historic redevelopment area along 1.2 miles of Pittsburgh's riverfront and includes office, hotel, retail, entertainment and hospitality components.

In addition, the Company also has re-signed another existing tenant to space in the Commerce Court office building at Station Square.

"We're honored to welcome these new and renewing tenants to our Pittsburgh-area properties," said Charles A. Ratner, Forest City president and chief executive officer. "These signings reflect the vitality of the Pittsburgh market as well as the quality of our area properties. They also are further evidence of the strength of our office portfolio nationwide, which continues to perform well, even under current economic and market conditions."

About Forest City

Forest City Enterprises, Inc., is an $11.7 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit www.forestcity.net.

Safe Harbor Language

Statements made in this news release that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. The Company's actual results could differ materially from those expressed or implied in such forward-looking statements due to various risks, uncertainties and other factors. Risks and factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact of current market conditions on our liquidity, ability to finance or refinance projects and repay our debt, general real estate investment and development risks, vacancies in our properties, further downturns in the housing market, competition, illiquidity of real estate investments, bankruptcy or defaults of tenants, anchor store consolidations or closings, international activities, the impact of terrorist acts, risks associated with an investment in a professional sports team, our substantial debt leverage and the ability to obtain and service debt, the impact of restrictions imposed by our credit facility and senior debt, exposure to hedging agreements, the level and volatility of interest rates, the continued availability of tax-exempt government financing, the impact of credit rating downgrades, effects of uninsured or underinsured losses, environmental liabilities, conflicts of interest, risks associated with developing and managing properties in partnership with others, the ability to maintain effective internal controls, compliance with governmental regulations, volatility in the market price of our publicly traded securities, litigation risks, as well as other risks listed from time to time in the Company's SEC filings, including but not limited to, the Company's annual and quarterly reports.

SOURCE Forest City Enterprises, Inc.