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Nets Sports & Entertainment, Onexim extend forbearance agreement

CLEVELAND, Ohio -- August 12, 2015 -- Forest City Enterprises, Inc. (NYSE: FCEA and FCEB) announced today that Nets Sports & Entertainment (NS&E) and Onexim have agreed to extend a forbearance agreement related to payment of capital calls and related fees for the Brooklyn Nets, through September 8. The agreement was originally set to expire August 12.

NS&E is the consolidated subsidiary through which Forest City holds its ownership interests in the Nets and the Barclays Center arena. NS&E owns 20 percent of the Nets and 55 percent of Barclays Center. Forest City, in turn, owns approximately 62 percent of NS&E with the balance owned by minority partners.

About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real estate company with $10.3 billion in consolidated assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the United States. For more information, visit

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