CBL Adds 22-Year Development Veteran to Team

CBL & Associates Properties, Inc. (NYSE:CBL) today announced that Timothy S. Lowe will join the Company as senior vice president of development. Lowe will focus on regional mall, open-air and lifestyle center developments, redevelopments and expansions primarily in the Midwest and Southeast, including implementing and coordinating projects for the four St. Louis-area malls recently added to CBL’s portfolio. CBL's Chief Development Officer, Michael Lebovitz, commented, "Tim brings a wealth of knowledge and expertise in the development and redevelopment of major retail facilities that will both complement and strengthen our development team. He has had experience with a variety of retail formats and will make an invaluable addition. We look forward to his solid contribution to further enhancing our growing development program." Lowe brings more than 22 years of experience in development to CBL including most recently his position as Executive Vice President – Development at Westfield, LLC. Just a few of his career accomplishments include leading the Midwest and Mid-Atlantic development regions for Westfield with responsibility for development activity at twelve regional shopping centers. Lowe also oversaw the creation and expansion of the airport retail concession division, which included the development of successful retail and restaurant concession programs within the airport environment. Lowe will be locating in CBL’s new St. Louis regional office within Chesterfield Mall. The new regional office will be located at Chesterfield Mall, 291 Chesterfield Mall, Chesterfield, MO 63077. 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 136 properties, including 83 regional malls/open-air centers. The properties are located in 27 states and total 80.0 million square feet including 1.8 million square feet of non-owned shopping centers managed for third parties. CBL currently has fourteen projects under construction totaling 2.9 million square feet including Pearland Town Center in Houston (Pearland), TX; Settlers Ridge in Pittsburgh, PA; CBL Center II in Chattanooga, TN; two lifestyle/associated centers, and nine mall expansions/redevelopments. 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.