CBL and Benchmark Develop Hammock Landing in West Melbourn…

Hammock Landing NEWS RELEASE Contact: Katie Reinsmidt, Director of Corporate Communications & Investor Relations, 423.490.8301, katie_reinsmidt@cblproperties.com CBL AND BENCHMARK PARTNER TO DEVELOP HAMMOCK LANDING IN WEST MELBOURNE, FL Construction has Commenced for a Spring 2009 Opening CHATTANOOGA, TN. and AMHERST, NY (February 1, 2008) –CBL & Associates Properties, Inc. (NYSE: CBL) and The Benchmark Group today announced the development of Hammock Landing, a 750,000-square-foot open-air shopping center to be built in West Melbourne, FL. The center will be anchored by Marshall’s, Linens ‘n Things, Michael’s, and Petco, as well as two major anchors and will offer shoppers a great selection with more than 120,000 square feet of small shops and restaurants. Construction on the project has started with a grand opening planned for spring 2009. “We’re delighted to partner again with The Benchmark Group on this exciting new project in a dynamic and growing area in Florida,” said Stephen Lebovitz, president of CBL & Associates Properties. “Hammock Landing will provide much-needed retailers to an underserved area on Florida’s east coast.” Hammock Landing will be located on 78 acres at the northwest intersection of I-95 and Palm Bay Road, one of the most heavily trafficked interchanges in Brevard County. Construction for the expansion of Palm Bay Road to six lanes is expected to begin this month. In addition to the 41,000 cars per day ...