Press Release

Forest City-New East Baltimore Partnership Adds BioMarker Strategies as Fourth Tenant for The Science + Technology Park at Johns Hopkins

For immediate release: January 10, 2008

Baltimore, MD - The Forest City-New East Baltimore Partnership announced today that BioMarker Strategies is the latest tenant to sign on at the first of five planned life science office facilities at the Science + Technology Park at Johns Hopkins. BioMarker Strategies will locate its headquarters at 855 N. Wolfe St, adjacent to the Johns Hopkins Medical Institutions' campus.

"We are excited to welcome BioMarker Strategies to the campus," said Scott Levitan, Senior Vice President and Director of Development for the Science + Technology Park at Johns Hopkins. "Forest City-New East Baltimore Partnership and Johns Hopkins Medical Institutions value tenants like BioMarker Strategies, who we know will benefit from the physical proximity to the campus and will foster intellectual enterprise with faculty. These companies will grow with the Science + Technology Park at Johns Hopkins and the New East Baltimore community."

BioMarker Strategies joins the Johns Hopkins Institute for Basic Biomedical Sciences, the Howard Hughes Medical Institute and Cangen Biotechnologies at the 278,000-square-foot, state-of-the-art office research building, scheduled to open in April, 2008. The building will provide state-of-the-art facilities for advanced research companies and tenants, as well as offer access to the use of sophisticated research equipment located on the Johns Hopkins campus.

"We are also very pleased to be a part of the expanding biotech presence at Johns Hopkins and in Baltimore," said Scott Allocco, President of BioMarker Strategies. "This lease will give us the lab space we need to further develop our SnapPath^TM system, which will help to facilitate personalized medicine for cancer patients."

The Science + Technology Park at Johns Hopkins is one component of the transformation of the East Baltimore community that is overseen by East Baltimore Development Inc. The project will provide 850 new residential units for new and returning residents in mixed-income housing, as well as offer new life science, office and retail space. Customized technical training programs, provided by East Baltimore Development Inc., will enhance the skills of Baltimore's workforce to meet the requirements of companies locating in the Park. A new K-8 community school and open spaces are also planned.

The work being done in the New East Baltimore community is being noted by the Lincoln Institute of Land Policy as a national model for physically and economically reinvigorating core urban communities. The success of the project is a result of collaboration among the East Baltimore neighborhoods, the State of Maryland, the City of Baltimore, East Baltimore Development Inc., the Annie E. Casey Foundation, the Goldseker Foundation, Forest City-New East Baltimore Partnership and its subdevelopers. Their goal is to rebuild the community and create new opportunities within New East Baltimore.

About BioMarker Strategies
BioMarker Strategies is an early stage medical device and molecular diagnostics company that is developing the SnapPath™ solid tumor cell processing and testing system to improve the diagnosis, treatment and clinical management of cancer. The SnapPath ™ system will minimize pre-analytical variability in the analysis of solid tumor cells, while simultaneously maximizing the molecular diagnostic potential of these cells. This innovative tissue sample preparation system will improve the quality of molecular diagnostic tests and enable personalized medicine for patients with solid tumor-based cancers. BioMarker Strategies (www.biomarkerstrategies.com), which is a Maryland-based LLC, recently closed its angel investor round after raising significant initial investment capital. The company and many of its investors also participated in the 2007-2008 Maryland Biotechnology Investment Tax Credit Program.

About the Developers
The Science + Technology Park at Johns Hopkins, which is being developed by The Forest City-New East Baltimore Partnership, is part of an ambitious mixed-use development program that is being undertaken in an area of East Baltimore immediately north of the Johns Hopkins Medical Institutions. The first phase of development plans for the 31-acre Phase I area being developed by the Partnership to include the 1.1-million-square-foot Science + Technology Park, over 850 housing units for mixed-income buyers and renters, and a variety of retail services. The Partnership consists of the Forest City Science + Technology Group and Presidential Partners, LLC, a minority-business consortium of Baltimore-based developers. In addition to the development activities being undertaken by the Partnership, the overall East Baltimore redevelopment initiative will generate new job opportunities.

Presidential Partners is a consortium of award-winning developers and builders specializing in mixed-use projects. Presidential Partners includes: Banks Contracting, Lambda Development, Legacy Harrison Enterprises, and The Wilkinson Group. Presidential Partners has earned recognition for top-notch strategic planning and an enviable ability to spot and spark urban revitalization. Combined, they offer nearly a century of industry experience and innovative collaboration. www.presidentialpartnersllc.com

Forest City Science + Technology Group (www.forestcityscience.net) operates a portfolio of more than two million square feet of life science/technology office space with more than eight million square feet in the planning or development stages. Its properties are in major markets including Boston, Baltimore, Philadelphia, Chicago and Denver.

Forest City Science + Technology Group is a division of Forest City Enterprises, Inc. (NYSE: FCEA) (NYSE: FCEB), a $10 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.

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. Real estate development 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 inability to secure sufficient financing on favorable terms, construction risks, increases in commodity costs, the inability to obtain required governmental permits and authorizations, the inability to secure tenants or anchors for the project, the withdrawal of a prospective anchor or project partner, opposition from third parties, competition in the target market, economic conditions in the target market, the adverse impact of environmental matters, softening of the housing market, and other risk factors as disclosed from time to time in the Company's SEC filings, including but not limited to, the Company's annual and quarterly reports.