- Eli Lilly and Company Selects the Alexandria Center for Science and Technology at East River Science Park as its New York City Translational Research Headquarters for ImClone Systems -

- First Large Biopharmaceutical Company to Base Research Operations in New York City -

- Press Conference Held Today with Mayor Michael R. Bloomberg -

PASADENA, Calif., July 22 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), Landlord of Choice to the Life Science Industry(R), announced today that an affiliate has entered into a long-term lease with Eli Lilly and Company as the anchor tenant at the Alexandria Center for Science and Technology at East River Science Park ("the Alexandria Center"). Lilly has leased approximately 91,000 rentable square feet, as well as an additional approximately 9,000 rentable square feet of core services space, at the Alexandria Center, which will become the new research headquarters for ImClone Systems, a wholly-owned subsidiary of Eli Lilly and Company, to be New York City's life science collaboration and translational research epicenter. Occupancy is expected in approximately June 2010.

To mark this profound milestone in the continued development of Alexandria's New York City life science cluster, Mayor Michael R. Bloomberg held a press conference today at the Alexandria Center for Science and Technology at East River Science Park, along with New York City Council Speaker Christine C. Quinn, Empire State Development Corporation Chairman and CEO-designate Dennis Mullen, Dr. John C. Lechleiter, Chairman, President and Chief Executive Officer of Eli Lilly and Company, Dr. Larry Witte, Senior Vice President of Research of ImClone Systems and Joel S. Marcus, Chairman, President and Chief Executive Officer of Alexandria Real Estate Equities, Inc., as well as many dignitaries.

ImClone Systems is a leader in the development and commercialization of novel therapeutic products in the field of oncology, such as ERBITUX((R)) (cetuximab) and a broad spectrum of innovative product candidates with potential application in multiple tumor types. Committed to building an oncology powerhouse, Eli Lilly and Company acquired ImClone Systems in November 2008 as a complement to its internal cancer research unit, Lilly Oncology. Locating translational research and development at the Alexandria Center provides ImClone Systems and Lilly Oncology with a unique and highly collaborative platform from which to access renowned medical and research institutions in New York City. Alexandria's New York City presence will leverage the Company's proprietary clustering model to recruit a broad and diverse spectrum of life science entities.