CBL CBL and Associates Properties Inc

CBL & Associates Properties, Inc. (NYSE:CBL) today announced the development of Cobblestone Village at Palm Coast, in Palm Coast, FL. Belk fashion department store and Lowe�s will anchor the 278,000-square-foot retail destination. The center will also feature a select group of specialty retailers. Construction is under way for a planned grand opening in October. The center is 88% leased and committed. �We are excited about bringing Cobblestone Village at Palm Coast to this growing market,� said Stephen Lebovitz, president of CBL & Associates Properties. �We have worked closely with the community to protect the natural beauty and wildlife of the surrounding area. The result will be a strong project that will provide much-needed retail to this growing market.� Cobblestone Village at Palm Coast will be located on 54 acres at the southwest corner of Interstate 95 and Palm Coast Parkway, in the heart of Flagler County, the fastest growing county in the United States, according to the U.S. Census Bureau. In addition to the incredible growth, the average household income in the center�s primary trade area is projected to grow nearly 13% by 2010. Artech Design Group, Chattanooga, has designed the project to feature broad sidewalks, lush landscaping and Mediterranean-style architecture that will put a fresh twist on the community center format. Ample parking surrounds both anchors and the main street, creating a convenient, attractive addition to this growing community. About CBL & Associates Properties, Inc. CBL recently celebrated the opening of Gulf Coast Town Center, a 1.7 million-square-foot shopping destination in Fort Myers, FL. CBL also owns and manages three additional regional malls in the state including Volusia Mall in Daytona Beach, Panama City Mall in Panama City and Lakeshore Mall in Sebring, plus one associated center. 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 131 properties, including 79 regional malls/open-air centers. The properties are located in 27 states and total 74.3 million square feet including 2.2 million square feet of non-owned shopping centers managed for third parties. CBL currently has fourteen projects under construction totaling 2.6 million square feet including Pearland Town Center in Houston (Pearland), TX; Alamance Crossing in Burlington, NC; CBL Center II in Chattanooga, TN; two lifestyle/associated centers, eight mall expansions/redevelopments, and one community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, and Dallas, TX. 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.