CBL CBL and Associates Properties Inc

CBL & Associates Properties, Inc. (NYSE:CBL) today announced the development of Milford Marketplace, a 112,000-square-foot lifestyle center in Milford, Connecticut. The retail destination will be anchored by a 30,000-square-foot national upscale supermarket and will also feature a fabulous collection of specialty retailers including Ann Taylor LOFT, Coldwater Creek, Chico's, White House | Black Market, J. Jill, Jos A. Bank, Blue Tulip, Tengda Asian Bistro and People's Bank. Construction is scheduled to begin next month and a grand opening is planned for the summer of 2007. Milford Marketplace is already more than 70% leased and committed. Stephen Lebovitz, president of CBL & Associates Properties, noted, "The development of new lifestyle centers across the country is a natural extension of our long history of regional mall and shopping center development. We have been very active in adding lifestyle elements to our existing properties as well as pursuing lifestyle center opportunities in select markets. The outstanding collection of retailers at Milford Marketplace will make this latest addition to our lifestyle center portfolio a resounding success. The significant amount of pre-leasing at Milford Marketplace attests to the ideal location and strong demographics of the Milford market. We look forward to beginning construction and the opening of this first-class retail destination." Milford Marketplace will also offer shoppers a unique shopping experience with Main Street style architecture and extensive landscaping in an open-air pedestrian-friendly environment. The lifestyle center will feature two-story facade themed buildings, adding a distinct character to the center. Curbside parking will provide customers with easy and convenient access to the shops. Milford Marketplace is the latest development of CBL's Boston regional office. The lifestyle center will be located on 13 acres at the intersection of Boston Post Road (Route 1) and Woodruff Road. The center's architects are Allevato Architects Inc. of Franklin, MA. EMJ Corporation of Chattanooga, TN, will serve as the general contractor. About CBL CBL is one of the largest and most experienced owners and developers of malls and shopping centers in the country. CBL owns, holds interests in or manages 132 properties, including 79 regional malls/open-air centers. The properties are located in 27 states and total 74.2 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has nine projects under construction totaling 2.1 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; two open-air shopping centers; a community center, two associated centers and three expansions. In addition to its two regional offices in Boston (Waltham), MA and Dallas, TX, CBL's corporate office is located in Chattanooga, TN. Additional information can be found at http://cblproperties.com. Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" incorporated by reference therein, for a discussion of such risks and uncertainties.