CBL & Associates Properties, Inc. : CBL Announces Michaels To Join The Forum At Granview In Madison, MS

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CBL ANNOUNCES MICHAELS TO JOIN
THE FORUM AT GRANDVIEW IN MADISON, MS

CHATTANOOGA, Tenn. (January 13, 2012) - CBL & Associates Properties, Inc. (NYSE: CBL), today announced that Michaels would join the second phase of The Forum at Grandview, a community center in Madison, MS. Construction for the 83,000-square-foot second phase is currently underway. In addition to Michaels, anchors will include ULTA, Homegoods, and PETCO as well as 14,000-square-feet of specialty stores. The opening of phase II is scheduled for summer 2012.

Justice Wade, vice president - development leasing and peripheral property for CBL & Associates Properties, Inc., said, "Michaels will be a great addition to the Forum at Grandview. The growing selection of national retailers is creating a buzz in the market. We look forward to announcing even more great new stores in the near future."

Michaels Stores, Inc. is North America's largest specialty retailer of arts, crafts, framing, floral, wall décor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. For more information visit www.michaels.com.

The Forum at Grandview is situated on 54 acres along I-55 (Exit 108) adjacent to Malco Grandview Theater and Miskelly Furniture. The 110,000-square-foot phase I opened 100% leased in fall 2010 anchored by Best Buy, Dick's Sporting Goods and Stein Mart. Corner Bakery, a fast casual restaurant, opened on the periphery of the property in December. The surrounding trade area has been largely underserved by retail on this north/south corridor between Jackson, MS and Memphis, TN. The project is a joint venture of CBL and The Mattiace Company.

Persons interested in learning more about leasing space should contact the following representatives:

Specialty Shops:
Lewis Hilton
senior leasing manager - development leasing
423-490-8354
[e-mail]

Peripheral Property:
Robert Snetman
senior director - peripheral property
423-490-8333
[e-mail]

About The Mattiace Company
Mattiace Properties has been headquartered in Jackson, MS for almost 30 years and has developed approximately 2 million square feet of retail and office in the Jackson Metropolitan Area. Mattiace owns and operates retail and mixed use properties in Mississippi, Tennessee and Louisiana..

About CBL & Associates Properties, Inc
CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 159 properties, including 87 regional malls/open-air centers. The properties are located in 26 states and total 86.3 million square feet including 3.6 million square feet of non-owned shopping centers managed for third parties. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St. Louis, MO..