Exhibit 99.1
CONTACT:   JOSEPH MACNOW
           (201) 587-8541
                                                     [ALEXANDER'S, INC. LOGO]

                                                      210 Route 4 East
                                                      Paramus, NJ 07652


FOR IMMEDIATE RELEASE - September 23, 2003
- ------------------------------------------

                       Alexander's Announces Live Webcast

        PARAMUS, NEW JERSEY.......ALEXANDER'S, INC. (New York Stock
Exchange:ALX) announces that Vornado Realty Trust (NYSE:VNO), the manager which
conducts Alexander's operations, plans to host an investor conference on
September 30, 2003 at 2:00 P.M. EDT. At the conference, information concerning
Alexander's will be presented and discussed. The conference will be Webcast live
by Vornado Realty Trust and the Webcast and materials presented at the
conference can be accessed at Vornado Realty Trust's website www.vno.com.

        A replay of the conference will be available from October 1, 2003
through November 15, 2003, at the above Website.

        Alexander's, Inc. is a real estate investment trust which has six
properties in the greater New York City metropolitan area.







        CERTAIN STATEMENTS CONTAINED OR INCORPORATED HEREIN AND IN THE INVESTOR
CONFERENCE REFERRED TO IN THIS RELEASE MAY CONSTITUTE "FORWARD-LOOKING
STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995. SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE
OR ACHIEVEMENTS OF ALEXANDER'S, INC. TO BE MATERIALLY DIFFERENT FROM ANY FUTURE
RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS. SUCH FACTORS INCLUDE, AMONG OTHERS, RISKS ASSOCIATED
WITH THE TIMING OF AND COSTS ASSOCIATED WITH PROPERTY IMPROVEMENTS, FINANCING
COMMITMENTS AND GENERAL COMPETITIVE FACTORS.

        MORE DETAILED INFORMATION ABOUT THESE AND OTHER FACTORS IS SET FORTH IN
ALEXANDER'S, INC.'S ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR ENDED
DECEMBER 31, 2002 AND IN ITS QUARTERLY REPORT ON FORM 10-Q FOR THE FISCAL
QUARTER ENDED JUNE 30, 2003. ALEXANDER'S, INC. IS UNDER NO OBLIGATION TO, AND
EXPRESSLY DISCLAIMS ANY SUCH OBLIGATION TO, UPDATE OR ALTER ITS FORWARD-LOOKING
STATEMENTS.

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