CBL CBL and Associates Properties Inc

CBL & Associates Properties, Inc. (NYSE:�CBL) today announced that four regional malls will undergo renovations in 2007 including Brookfield Square in Milwaukee (Brookfield), WI; Georgia Square in Athens, GA; Honey Creek Mall in Terre Haute, IN; and Mall del Norte in Laredo, TX. The renovations will bring design improvements to the properties such as remodeled entrances, enhanced interior lighting and new interior d�cor and flooring for a total cost of more than $49 million. The remodeling projects will begin in the first quarter and Georgia Square, Honey Creek Mall and Mall del Norte will be completed in the fourth quarter of 2007. Brookfield Square is scheduled for completion in September 2008. �CBL knows the importance of renovating our properties in order to accommodate changing customer and retailer preferences and trends. We are committed to upgrading our malls in order to continue to provide our customers with new amenities and a comfortable and convenient shopping environment,� said Stephen Lebovitz, president of CBL & Associates Properties, Inc. �The renovations will strengthen each mall�s dominant position in its market area. These remodeling projects will also facilitate future expansions, the addition of lifestyle elements as well as attract additional junior anchor stores and new specialty retailers and quality restaurants to the malls.� The renovation projects will also include ceiling enhancements, dramatic graphic packages including interior and exterior signage, improved soft seating areas and food court renovations with new furniture at many of the malls. In addition to these improvements, several of the shopping centers will add state-of-the-art security systems, upgrade vertical transportation with larger elevators and additional escalators, and resurface and reconfigure parking lots. Lebovitz added, �We are constantly looking at the latest developments in architectural design in order to incorporate them into our renovation plans. Our goal is to make our malls both visually appealing as well as creating a unique and friendly environment for our shoppers.� CBL completed seven renovations in 2006 including CoolSprings Galleria in Nashville, TN; Madison Square in Huntsville, AL; Chapel Hill Mall in Akron, OH, Harford Mall in Baltimore, MD, Park Plaza in Little Rock, AR; Wausau Center in Wausau, WI; and Northpark Mall in Joplin, MO. About Brookfield Square Brookfield Square is a 1.1 million square-foot market dominant mall located at the intersection of I-94 and Moorland Rd. (SR A-17) in Milwaukee (Brookfield), WI. The regional mall features four anchors including Barnes & Noble, Boston Store, JCPenney and Sears, as well as more than 110 stores and dining options. More information can be found by visiting shopbrookfieldsquaremall.com. About Georgia Square Georgia Square is an approximately 675,000 square-foot regional mall anchored by Belk, JCPenney, Macy�s and Sears. The mall features more than 100 specialty stores and eateries. The mall is conveniently located at the intersection of Atlanta Highway (US 29 and 78) and Huntington Road in Athens, GA. Visit georgiasquaremall.com for additional information. About Honey Creek Mall Honey Creek Mall is an approximately 681,000 square-foot regional mall anchored by Elder-Beerman, JCPenney, Macy's and Sears. The mall features more than 90 stores, services and eateries including Gap, American Eagle Outfitters, Foot Locker and Bath & Body Works. Honey Creek Mall is located off I-70 East; Exit 7 (US 41 South) in Terre Haute. Visit honeycreekmall.com for additional information. About Mall del Norte Mall del Norte is a 1.2 million square-foot regional mall anchored by Bealls, Circuit City, Dillard's, JCPenney, Joe Brand, Macy's, Mervyn's, Sears and a soon-to-be 16-screen Cinemark Theatre. The mall features more than 160 specialty stores and restaurants such as Bebe, Bebe Sport, Deutsch & Deutsch, Guess?, Hollister Co., Sharper Image and more. Mall del Norte is conveniently located off I-35 at Exit 3A in Laredo, TX. For more information, visit malldelnorte.com. About CBL & Associates Properties, Inc. 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 130 properties, including 79 regional malls/open-air centers. The properties are located in 27 states and total 74.0 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has thirteen projects under construction totaling 2.3 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; Alamance Crossing in Burlington, NC; three lifestyle/associated centers; seven mall expansions, and a community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, and Dallas, TX. Additional information can be found at cblproperties.com.