CBL CBL and Associates Properties Inc

CBL & Associates Properties, Inc. (NYSE: CBL) today announced that its Board of Directors has declared a regular quarterly cash dividend for the Company's Common Stock of $0.4575 per share for the quarter ending June 30, 2006. The dividend, which equates to an annual rate of $1.83 per share, is payable on July 14, 2006, to shareholders of record as of June 30, 2006. The Board declared a quarterly cash dividend of $1.09375 per share for the quarter ending June 30, 2006, for the Company's 8.75% Series B Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $4.375 per share, is payable on June 30, 2006, to shareholders of record as of June 16, 2006. The Board declared a quarterly cash dividend of $0.484375 per depositary share for the quarter ending June 30, 2006, for the Company's 7.75% Series C Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.9375 per depositary share, is payable on June 30, 2006, to shareholders of record as of June 16, 2006. The Board also declared a quarterly cash dividend of $0.4609375 per depositary share for the quarter ending June 30, 2006, for the Company's 7.375% Series D Cumulative Redeemable Preferred Stock. The dividend, which equates to an annual dividend payment of $1.84375 per depositary share, is payable on June 30, 2006, to shareholders of record as of June 16, 2006. 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 127 properties, including 79 regional malls/open-air centers. The properties are located in 26 states and total 72.7 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has ten projects under construction totaling 2.3 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; two open-air shopping centers; two community centers, two associated centers and three expansions. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA and Dallas, TX. Additional information can be found at http://cblproperties.com.