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CBL Announces Anchor Redevelopment At Southpark Mall In Richmond, VA

CBL & Associates Properties, Inc. (NYSE: CBL), today announced the addition of Dick’s Sporting Goods to Southpark Mall in Richmond (Colonial Heights), VA. The existing Dillard’s location will be redeveloped into the new 56,000-square-foot store as well as a selection of specialty stores and restaurants. Construction is scheduled to begin in October with a grand opening slated for summer 2013.

“The addition of Dick’s Sporting Goods to Southpark Mall will complete the first phase of our plans to redevelop the Dillard’s location. We are also working to add a new assortment of specialty stores and restaurants to the center,” said Stephen Lebovitz, president and CEO, CBL & Associates Properties, Inc. “This redevelopment, as well as the previous addition of the Regal theater, represents our ongoing commitment to reinvest in the growth of our centers and provide shoppers with a broader range of shopping, dining and entertainment options.”

Pittsburgh, Pennsylvania-based Dick’s Sporting Goods is an authentic full-line sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel and footwear in a specialty store environment. When the store opens, shoppers will find some of the finest quality products at competitive prices for athletes and outdoor enthusiasts. Dick’s Sporting Goods offers equipment, apparel for men, women and children, as well as footwear. More information on Dick’s Sporting Goods can be found at www.dickssportinggoods.com.

About Southpark Mall

Southpark Mall is a 690,000-square-foot enclosed regional mall anchored by Macy’s, JCPenney, Sears and a Regal Cinemas Stadium 16. It is the dominant regional mall and shopping, dining and entertainment destination for the Tri-Cities area of Colonial Heights, Petersburg, Hopewell and surrounding counties along the North Carolina border. Southpark Mall features more than 80 specialty retailers including Aéropostale, The Children’s Place, American Eagle Outfitters, Bath & Body Works, rue21, Yankee Candle Company, and Victoria’s Secret. For more information on Southpark Mall visit southparkmall.com.

Businesses interested in obtaining leasing information about Southpark Mall should contact:

Bill Brindle       Regional Leasing Director       423.533.8702      

bill_brindle@cblproperties.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 United States. CBL owns, holds interests in or manages 160 properties, including 90 regional malls/open-air centers. The properties are located in 27 states and total 87.3 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. Additional information can be found at 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.



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