Paramount Group, Inc. (NYSE:PGRE) ("Paramount" or the "Company") announced today that it has signed a 121,000 square foot, 16.5 year lease with Benesch, Friedlander, Coplan & Aronoff LLP ("Benesch") at 1301 Avenue of the Americas, a 1.8 million square-foot Class A office building, located between 52^nd and 53^rd Streets in Midtown Manhattan. Of the 121,000 square feet, approximately 30,000 square feet is short term.

"We are proud to welcome Benesch to 1301 Avenue of the Americas," said Douglas Neye, Senior Vice President. "This significant commitment is a testament to the building's many appealing attributes and another example of the New York office market's resurgence. By joining our tenant roster, Benesch employees will benefit from the building's central location and its amenity offerings, including membership to the Paramount Club. This members-only club, designed for tenants across our New York portfolio, remains a unique and valuable amenity in the market. With this agreement, 1301 Avenue of the Americas is 90% leased. We look forward to a long-term partnership with Benesch."

Designed by Skidmore, Owings & Merrill, 1301 Avenue of the Americas is a stunning 45-story office tower featuring over 1.8 million square feet of Class A office space. Additionally, the building provides direct access to Rockefeller Center, with its many upscale retail shops, fine dining establishments and subway connections. The building offers its tenants an abundance of natural light along with magnificent views of Central Park and other Midtown landmarks.

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

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Wilbur Paes

Chief Operating Officer,

Chief Financial Officer & Treasurer

212-237-3122

ir@paramount-group.com

Tom Hennessy

Vice President, Business Development &

Investor Relations

212-237-3138

ir@paramount-group.com

Media:

212-492-2285

pr@paramount-group.com

Paramount Signs 121,000 Square Foot Lease at 1301 Avenue of the Americas