CBL CBL and Associates Properties Inc

CBL & Associates Properties, Inc. (NYSE: CBL) today announced a new partnership with NearbyNow, a popular search service for shopping centers that helps drive online shoppers into stores. NearbyNow�s proprietary service allows consumers to find any product, brand or sale currently available at their local CBL shopping mall using the Internet or mobile phones. CBL�s Midland Mall in Midland, Michigan went live with NearbyNow�s service on June 20, becoming the 57th shopping center in the country to become �searchable� using the NearbyNow service. NearbyNow will be rolled out to all of CBL�s 79 regional malls and open-air centers over the next year. �We are excited about forming this partnership with NearbyNow and offering our shoppers this convenient service. One of the goals of our ongoing marketing efforts is to continuously drive sales and traffic into our shopping centers,� said Stephen Lebovitz, President of CBL & Associates Properties, Inc. �This new and unique service will play an important role in capturing some of the online shoppers and turning them into in-mall shoppers. We are confident this new offering will be a success.� NearbyNow's service is easy to access from home (from the mall website) or while shopping (on a mobile phone). On the home page, consumers can select the "Product Search" button to navigate through the process. For example, by typing "shoes" in the search box, all retailers in the mall who sell shoes will be listed. A customer can click on a particular shoe, see the details and "Reserve" the product on-line for pickup at the mall. NearbyNow contacts the store, reserves the product, and sends the customer a confirming email. Shoppers can also search the mall from their mobile phone using text messaging. Each mall has a unique two letter code, such as "MI" for Midland Mall, and when shoppers text that code to 632729 (NEARBY), they can search all available products and sales, and even receive mobile-only offers. �We are excited about our partnership with CBL, one of the largest and most active developers and owners of retail destinations in the country,� said Scott Dunlap, NearbyNow CEO, �Making it easy for shoppers to find nearby products and sales works for everyone. We will continue our rapid expansion, and look forward to the addition of CBL's premier malls.� Consumers are fully exploiting multimedia channels such as the Internet and mobile phones to research purchases before buying in-store. NearbyNow is the first company to effectively deliver both a Web-based and mobile service for shopping centers and retailers to make the local mall searchable, targeting �high intent to buy� shoppers. To date, shoppers across the county have been able to go online and search over 800,000 products from specific retailers or brands in their local mall before heading out the door to shop. Shoppers have also benefited from NearbyNow�s �reserve this product,� ensuring that selected items are available and waiting at the store. Retailers and brands alike have found NearbyNow�s service provides a valuable advertising venue for reaching those �high intent to buy� shoppers, and to drive in-store sales. The ability to immediately target consumers in the 48 hours prior to purchase and drive consumers directly into stores is a powerful innovation beyond traditional print, TV, and search advertising. According to "The Web's Impact on In-Store Sales: US Cross-Channel Sales Forecast, 2006 to 2012", Forrester Research, Inc., May 8, 2007, the Internet will influence more than $1.1 trillion in in-store sales by 2012. About NearbyNow, Inc. NearbyNow, Inc. provides a unique online service that allows consumers to search all products, brands, and sales currently available at local shopping centers using the Internet or mobile phones. Working with shopping centers and retailers across the United States, NearbyNow enables consumers to easily access local information both before and during their shopping trips. The company also creates an efficient marketing tool for retailers to target nearby consumers, helping to drive sales by turning online shoppers into in-store buyers. NearbyNow is headquartered in Los Altos, CA. Additional information can be obtained by phone at (650) 947-1300 or via the Web at www.nearbynow.com. About CBL & Associates Properties, Inc. CBL is one of the largest and most active 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 2.5 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.