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CBL Announces Farzana Mitchell Appointed Chief Financial Officer

The Board of Directors of CBL & Associates Properties, Inc. (NYSE: CBL), today announced that Farzana Mitchell has succeeded John Foy as Chief Financial Officer. Foy will remain in the near term as executive Vice Chairman to provide continuity through this important transition. In addition, the Board announced that Katie Reinsmidt has been promoted to the new position of Senior Vice President – Investor Relations and Corporate Investments.

CBL’s Vice Chairman John N. Foy commented, “I am proud to have played a key role in the growth of CBL over the years. Farzana and I have led the Company’s financing activities since she joined CBL 12 years ago, and I have always been impressed by her insight and creativity. I am confident that with her expert guidance, CBL will continue to achieve great success.”

“We are pleased to recognize Farzana’s leadership, work-ethic and vision with this promotion to Chief Financial Officer,” said Stephen Lebovitz, president & chief executive officer. “Farzana and John have worked together to execute the Company’s financial strategy and we are certain that her expertise will prove to be valuable going forward. Since joining CBL in 2000, Farzana’s business acumen and deep financial knowledge have been an important resource as most recently exemplified by the formation of the TIAA-CREF joint venture relationship. We are certain that Farzana will make significant contributions to CBL’s ongoing success. CBL has a very bright future and we are confident that we have strong and capable leadership in place to guide our financial growth.”

Lebovitz added, “We are also excited to promote Katie to Senior Vice President – Investor Relations and Corporate Investments. Since joining the Company in 2004, Katie has assumed progressive levels of responsibility, becoming a key contributor in CBL’s major transactional and capital markets activity. She is very well-respected throughout Wall Street, and we are pleased to recognize her many accomplishments with this promotion.”

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