CLEVELAND--(BUSINESS WIRE)--Sept. 7, 2006--Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB):

    TO: Interested analysts, brokers, and investors

    FROM: Forest City Enterprises

    RE: Forest City Enterprises' Semi-Annual Earnings Conference

Forest City Enterprises announced its fiscal second quarter and first six months financial results for 2006 today September 7, 2006, and will be conducting a conference call, Tuesday, September 12, 2006 at 11:00 A.M. ET.

You are invited to dial into the conference call with Charles A. Ratner, President and Chief Executive Officer.

The conference call is scheduled for 11:00 A.M. ET, Tuesday, September 12, 2006. To participate, please dial 1-800-299-7928, using access code 61430063, approximately five minutes before the scheduled time of the conference call and tell the operator you wish to join the Forest City Semi-Annual Earnings Conference Call. The live broadcast will also be available on-line at Forest City's Website - www.forestcity.net.

We hope you will be able to join us for this call, but if you are unable to participate, the call will be replayed from September 12, 2006, 5:00 P.M. ET to October 12, 2006, 11:59 P.M. ET. The number to hear the teleconference replay is 1-888-286-8010 and the access code for the replay is 16877735. Webcast replay will be available from September 12 to October 12 on the Forest City website - forestcity.net.

If you have questions, or if you have trouble joining the conference call, please call AnnMarie Fenske at Forest City Enterprises, 216-621-6060.

    CONTACT: Forest City Enterprises, Inc.
             AnnMarie Fenske, 216-621-6060
             On the Web - www.forestcity.net

    SOURCE: Forest City Enterprises, Inc.