Horizon Group Properties and CBL & Associates Properties, Inc. Accelerated Grand Opening Date for The Outlet Shoppes at Atlanta

  Horizon Group Properties and CBL & Associates Properties, Inc. Accelerated
             Grand Opening Date for The Outlet Shoppes at Atlanta

Horizon & CBL Announce Thirty New Stores Joining the Project

PR Newswire

ATLANTA, Dec. 21, 2012

ATLANTA, Dec. 21, 2012 /PRNewswire/ --Horizon Group Properties, Inc. (OTC:
HGPI.PK) and CBL & Associates Properties, Inc. (NYSE: CBL) today announced
that the Grand Opening date of the new outlet center located in the North
Atlanta suburb of Woodstock, GA. will be one month earlier than previously
scheduled. The 370,000 square foot initial phase of the center, to be named
The Outlet Shoppes at Atlanta, is now scheduled to open July 18, 2013; it was
originally planned to open in August .

(Photo: http://photos.prnewswire.com/prnh/20121221/DE33848 )

The center will feature the best-known brands and designer outlets, including
Nike, Saks Fifth Avenue OFF 5TH, Bose, Brooks Brothers, Columbia Sportswear,
Cole Haan, White House|Black Market, Guess, Fossil, Michael Kors, Under
Armour, and Talbots . Thirty new stores were announced today including:

  oAeropostale
  oAsics
  oBerry & Berry Yogurt
  oBose
  oCharley's Steakery
  oCharlotte Russe
  oClaire's
  oColumbia Sportswear
  oDress Barn
  oFox
  oGold Toe
  oGymboree
  oHaggar
  oJos. A. Bank
  oJourneys
  oKay Jewelers
  oKitchen Collection
  oLove Culture
  oLucky Brand
  oMaidenform
  oMotherhood Maternity
  oOshKosh B'Gosh
  oP.S.From Aeropostale
  oSbarro
  oSunglass Hut
  oTaqueria Tsunami
  oUltra Diamonds
  oWaterford Wedgwood
  oWilsons Leather
  oZumiez

"Strong tenant demand, ongoing support from the City of Woodstock officials
and the speed of the construction permit the accelerated opening date of the
center," said Gary J. Skoien, Horizon's president and CEO. "The development
and operation of the center will generate both substantial economic activity
in and tax revenue for the City of Woodstock and Cherokee County. "We
appreciate the efforts of the City and County officials who helped make this
development a reality,"

"The sustained demand we are receiving from retailers interested in joining in
The Outlet Shoppes at Atlanta demonstrates the tremendous strength of the
project," commented Michael Lebovitz, executive vice president – development &
administration for CBL & Associates Properties, Inc. "The outstanding retail
names we have already signed up will deliver a shopping experience that
everyone in the family can enjoy. We are looking forward to the early opening
next July."

The center is located north of Atlanta at the newly-constructed exit off I-575
at Ridgewalk Parkway in Woodstock. More than 112,000 cars pass the site
daily. The center is convenient to travelers on Interstates 75, 85 and 20 and
is expected to draw over four million visitors annually from a three-state
area.

Designed in a shopper-friendly configuration, the center will feature covered
walkways and landscaped courtyards to maximize the comfort and convenience of
shoppers. Its design blends traditional architecture with lively features
including a children's play area.A center court complete with fountains and a
fireplace will create a festive atmosphere for shoppers and visitors to the
center. The site can accommodate an additional 30,000 square feet of outlet
shops and also features seven out-lots for restaurants, service business and
other retail uses.

When completed, the center is projected to generate more than $130 million in
annual sales and $3 million of sales and property taxes for the City of
Woodstock. The development and operation of the center is expected to
generate a total of $34 million in taxes for the benefit of the City of
Woodstock, Cherokee County and its school district over the next ten years.

The Outlet Shoppes at Atlanta is a joint venture of CBL & Associates
Properties, Inc. and Horizon Group Properties, Inc. Horizon and CBL are
co-developers of the project; Horizon is responsible for leasing and managing
the center.

View the full fact sheet and press release about The Outlet Shoppes at
Atlanta:
http://www.horizongroup.com/post/sections/4/Files/OpeningDateAnnouncementTheOutletShoppesatAtlantags.pdf

About Horizon Group Properties, Inc.

Based in Norton Shores, Michigan with executive offices in Rosemont, Illinois,
Horizon Group Properties, Inc. is a leading owner and developer of factory
outlet shopping centers in the United States and Asia and is the developer of
a master planned community in suburban Chicago. For more information, please
visit www.horizongroup.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 interest in or manages
162 properties, including 93 regional malls/open-air centers. The properties
are located in 27 states and total 92.9 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.

SOURCE Horizon Group Properties, Inc.

Website: http://www.horizongroup.com
Contact: Gina Slechta, SCMD, Vice President of Marketing, +1-402-991-0875,
marketing@horizongroup.com
 
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