CBL Announces Grand Opening of Plaza Macae in Macae, Brazil

CBL and Associates Properties, Inc. (NYSE: CBL) and Tenco Realty of Belo Horizonte, Brazil, today celebrated the official grand opening celebration of its new 243,000-square-foot shopping center, Plaza Macaé in Macaé, Brazil. CBL has a 60% interest in the center. Plaza Macaé is anchored by Lojas Americanas, C&A, Marisa, a five-screen Cine Ritz and Leader as well as over 56,000-square-feet of specialty store and restaurants. A second phase of Plaza Macaé, opening in December, will include a 68,000-square-foot Wal*Mart. The center is approximately 92% leased and committed.

Commenting on the opening, CBL & Associates Properties, Inc. President, Stephen Lebovitz, said, "The opening of Plaza Macaé is a significant milestone in CBL’s history, marking our first international development project. The property will address a growing need for quality retail in the area and will continue to benefit from the tremendous population growth the area continues to experience. With the strong momentum of Plaza Macaé, we are excited to explore additional opportunities within Brazil to conservatively enhance our international strategy.”

Macaé is a coastal city located approximately two hours north of Rio de Janeiro. The city's population has grown over 300% since 1980 to a current population of approximately 230,000 people. The growth rate over the next five years is expected to continue to outpace norms. Macaé is in the center of the booming petroleum district and is used as its support base. Oil royalties to the regional government have funded major infrastructure improvements throughout the area. Plaza Macaé is well-located approximately five minutes from the city-center on a new ring road that surrounds Macaé and is served by designated public transportation. A university is under construction across the street from the center. Plaza Macaé will be the area's first enclosed shopping center.

About Tenco Realty

Tenco Realty is a premier owner, manager, and developer of retail real estate in Brazil. The Company was founded in 1988 by Eduardo Gribel and is based in Belo Horizonte, Brazil. Tenco Realty owns and manages six retail centers in Belo Horizonte and Brasilia and has eight projects in various stages of development throughout Brazil.

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 157 properties, including 87 regional malls/open-air centers. The properties are located in 27 states and total 84.2 million square feet including 2.2 million square feet of non-owned shopping centers managed for third parties. CBL currently has thirteen projects under construction totaling 3.8 million square feet including Settlers Ridge in Pittsburgh, PA; The Pavilion at Port Orange in Port Orange, FL; Hammock Landing in West Melbourne, FL; The Promenade in D’Iberville, MS; two lifestyle/associated centers, six expansions/redevelopments, and one community center. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas, TX, and St. Louis, MO. 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.