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CBL & Associates Properties Announces 2013 Renovation Program

CBL & Associates Properties, Inc. (NYSE: CBL), today announced that in 2013 it will complete multi-million dollar renovations at three market-dominant CBL Malls. Projects are scheduled for completion this year at Friendly Center in Greensboro, NC; Greenbrier Mall in Chesapeake, VA; and The Mall of Acadiana in Lafayette, LA. CBL makes it a priority to reinvest in its portfolio of dominant regional malls, enhancing their appeal to both retailers and shoppers.

“Renovating our malls is an ongoing priority for CBL,” said Stephen Lebovitz, president and CEO. “These enhancements ensure that each mall remains a top shopping destination, attracting great new retail and restaurant names and creating a shopping experience that consumers will enjoy.”

The Mall of Acadiana will receive contemporary design improvements, including updated entrances, paint, new interior décor and graphics, upgraded restrooms, remodeled food court, new landscaping, as well as new amenities, including soft seating areas. Friendly Center’s renovation will include updated walkway canopies and landscaping. Greenbrier Mall will receive new upper-level carpet, paint, restroom upgrades, landscaping improvements, as well as a newly designed food court including new tables and chairs.

About Friendly Center

Friendly Center and The Shops at Friendly Center is a complete lifestyle shopping, dining and entertainment experience featuring Anthropologie, Apple, Ann Taylor, Banana Republic, Brooks Brothers, Chico’s, J.Crew, LOFT, Soma Intimates, White House|Black Market, and restaurants including BRAVO! Cucina Italiana and Fleming’s Prime Steakhouse & Wine Bar. The complex, which boasts over 1.3 million square feet, is anchored by Belk, Macy’s, Sears, The Grande Cinema, Barnes & Noble Booksellers, Old Navy, Harris Teeter and REI. Friendly Center is located in Greensboro, the heart of North Carolina which is enjoying a rise in upscale downtown living. The area also benefits from seven local colleges and universities with more than 55,000 college students. For more information, please visit www.FriendlyCenter.com and www.TheShopsatFriendly.com.

About The Mall of Acadiana

The Mall of Acadiana is the premier shopping mall in Lafayette, Louisiana with almost one million-square feet of leasable area. The center is anchored by Dillard’s, Macy’s, JCPenney and Sears and features more than 100 specialty retailers including American Eagle Outfitters, Banana Republic, Coldwater Creek, Forever 21, Sephora, and Talbots. The city of Lafayette is strategically located in southern Louisiana along two major expressways, I-10 and I-49. The area hosts more than one million tourists each year and ranks high in the nation for percentage of income spent on retail sales. The Mall of Acadiana serves more than 15 million shoppers annually. Additional information can be found at www.MallofAcadiana.com

About Greenbrier Mall

Greenbrier Mall is an almost 900,000 square foot enclosed, two-level regional shopping center located in Chesapeake, VA. It is anchored by Dillard’s, Macy’s, JCPenney and Sears and features more than 120 specialty stores including Aéropostale, American Eagle Outfitters, Bath & Body Works, Hot Topic, Justice, Lane Bryant, New York & Company, The Limited, and Victoria’s Secret. Greenbrier Mall is centrally located off I-64 and serves the densely-populated cities of Chesapeake and Virginia Beach as well as the northeastern counties of North Carolina and the Outer Banks. Six major colleges are located within 15 miles of Greenbrier Mall with annual enrollments of more than 75,000 students. More information can be found by visiting www.greenbriermall.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 163 properties, including 95 regional malls/open-air centers. The properties are located in 27 states and total 91.8 million square feet including 9.4 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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