ALEXANDERS INC — Director's Dealing 2007

Mar 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALEXANDERS INC (ALX)
CIK: 0000003499
Period of Report: 2007-03-13

Reporting Person: FASCITELLI MICHAEL D (Director, President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-13	Common Stock	M	350000	$243.825	Acquired	350000	Direct
2007-03-13	Common Stock	D	350000	—	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-13	Stock Appreciation Right	$243.825	M	350000	Disposed	2007-03-14	Stock Appreciation Right (350000)	Direct

Footnotes

F1: Represents an exercise of Stock Appreciation Rights. Pursuant to his Stock Appreciation Rights, for each stock appreciation right, the reporting person received $144.185, which is the difference between the average of the high and low market price of Alexander's, Inc. common shares on the date of exercise and the exercise price of $243.825.