Taubman Centers Declares Common and Preferred Dividends

BLOOMFIELD HILLS, Mich., May 29 /PRNewswire-FirstCall/ -- The Board of Directors of Taubman Centers, Inc. today declared a regular quarterly dividend of $0.415 per share of common stock. The common dividend is payable July 21, 2008 to shareholders of record on June 30, 2008.

The Board of Directors also declared a quarterly dividend of $0.50 on its Series G Cumulative Preferred Shares , and a quarterly dividend of $0.4765625 on its Series H Cumulative Preferred Shares . The preferred dividends will be payable on June 30, 2008 to shareholders of record on June 20, 2008.

Taubman Centers, Inc., a real estate investment trust, owns, develops, acquires and operates urban and suburban shopping centers from coast to coast. The company is headquartered in Bloomfield Hills, Mich.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.