CHATTANOOGA, Tenn. and LANCASTER, Pa. (September 22, 2006) – CBL & Associates Properties, Inc. (NYSE: CBL) and High Real Estate Group, LLC today held the official groundbreaking ceremony for York Town Center in York (Springettsbury Township), PA.  Christmas Tree Shops and On The Border are the latest retailer and restaurant to join the 291,000-square-foot shopping center development.  York Town Center will also feature Dick's Sporting Goods, Best Buy, Ross Dress for Less, Bed Bath & Beyond, Staples, an additional anchor and 84,000 square feet of small shops and outparcels, including such retailers and restaurants as Ulta Cosmetics, Chili's, and Longhorn Steakhouse.  The center is currently 90% leased and committed and a grand opening celebration is planned for September 2007.

"York Town Center's premier location, right next to our market dominant mall, York Galleria, has been advantageous in attracting some outstanding big box and small shop retailers.  The center will further solidify the York shopping complex as the retail hub of the market area," said Mark Mancuso, CBL & Associates Properties, Inc., senior vice president of development.  "This day marks the beginning of the second successful development with our joint venture partner High Real Estate Group.  CBL will continue to pursue partnerships like this that bring together our proven development, leasing and management expertise with a new and exciting retail destination." 

Located on 32 acres across from CBL's 771,000-square-foot York Galleria Mall at the intersection of State Route 24 (Mt. Zion Road) and U.S. Route 30, York Town Center will create more than 1,000 jobs and is expected to generate more than $6.5 million in new annual state and local tax revenue.   

H. Stephen Evans, managing director of High Real Estate Group's retail division, commented, "York Town Center is High Real Estate Group's second major retail project since its diversification into retail development.  We are pleased with our selection of CBL, a leading national shopping center developer, as our partner in bringing this great new retail experience to the shoppers of York.  In addition, York Town Center will provide substantial transportation improvements which will greatly help the flow of traffic in this dominant shopping district in growing Springettsbury Township."

Persons interested in learning more about leasing space should contact Lewis Hilton, leasing manager, CBL & Associates Properties, Inc., CBL Center, Suite 500, 2030 Hamilton Place Blvd., Chattanooga, TN 37421, telephone 800-333-7310, ext. 354, E-mail lewis_hilton@cblproperties.com, or Dan Backer, assistant project manager, Watermill Center, Suite 395, 800 South Street, Waltham, MA 02453-1436, telephone 888-258-0766, E-mail dan_backer@cblproperties.com, or David Locke, project manager, david_locke@cblproperties.com.  For outparcel information, please contact Tom Reddy, assistant director of peripheral property, telephone 800-333-7310, ext. 266, E-mail tom_reddy@cblproperties.com.

About High Real Estate Group, LLC
High Real Estate Group, LLC, based in Lancaster, PA, is a full-service real estate organization providing development, industrial/commercial brokerage, asset and property management, corporate real estate service, strategic planning and consultation, appraisals, construction services, architecture, hospitality services, and investments.  With offices and properties throughout the eastern United States, the company owns and manages more than nine million square feet of industrial/commercial, retail, multi-family, and hotel properties.  More information is available by visiting highrealestategroup.com.

About CBL & Associates Properties, Inc.
Including York Galleria, CBL owns and manages four regional malls in Pennsylvania including Westmoreland Mall in Pittsburgh (Greensburg), Monroeville Mall in Pittsburgh (Monroeville), and Stroud Mall in Stroudsburg, as well as two associated centers.

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 126 properties, including 79 regional malls/open-air centers. The properties are located in 26 states and total 72.7 million square feet including 1.6 million square feet of non-owned shopping centers managed for third parties. Including York Town Center, CBL currently has eleven projects under construction totaling 2.8 million square feet.  Other projects include Phase II of Gulf Coast Town Center in Ft. Myers, FL; two open-air shopping centers; two community centers, three associated/lifestyle centers and two mall expansions. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, and Dallas, TX. Additional information can be found at cblproperties.com.

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