CBL & Associates Properties Announces Tax Reporting Information for 2012 Common and Preferred Share Distributions

  CBL & Associates Properties Announces Tax Reporting Information for 2012
  Common and Preferred Share Distributions

Business Wire

CHATTANOOGA, Tenn. -- January 25, 2013

CBL & Associates Properties, Inc. (NYSE: CBL) today announced the tax
reporting (Federal 1099) information for the 2012 distributions on its Common,
Series C Preferred, Series D Preferred and Series E Preferred shares.

The income tax treatment for the 2012 distributions for CBL & Associates
Properties, Inc., Common Stock CUSIP#124830-10-0 traded on the NYSE under
ticker symbol "CBL" is as follows:

                                                                                            
                                                      Distribution Type (Form 1099-DIV Box)
                                                                      Return of       Total       Unrecap.
                                                      Ordinary
                                                                      Capital /       Long-Term   Sec. 1250
Declaration   Record     Payable      Distributions   Taxable
                                                                     Non-Dividend   Capital     Gain ^
Dates         Dates      Dates        Per Share       Dividend                                    (1)
                                                                      Distributions   Gain
                                                      (Box 1a)                                    (Box 2b)
                                                                      (Box 3)         (Box 2a)
02/24/12      03/30/12   04/17/12     $ 0.2200000     $ 0.2200000     $   -           $ -         $ -
06/01/12      06/30/12   07/17/12     $ 0.2200000     $ 0.2200000     $   -           $ -         $ -
08/30/12      09/28/12   10/16/12     $ 0.2200000     $ 0.2200000     $   -           $ -         $ -
11/28/12      12/28/12   01/16/13     $ 0.1748773   $ 0.1748773   $   -         $ -       $ -     
                         Totals       $ 0.8348773   $ 0.8348773   $   -         $ -       $ -     
                         Percentage     100.000   %     100.000   %       0.000  %      0.000 %     0.000 %
                                                                                                  
^(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term Capital Gain
(Box 2a).


Pursuant to Internal Revenue Code requirements, of the $0.22 per share
dividend declared on November 28, 2012 and paid January 16, 2013, $0.1748773
per share is taxable in 2012 and $.0451227 per share will be reported and is
taxable in 2013.

No Alternative Minimum Taxable Income (“AMTI”) adjustment is included in the
current year for the recipients of distributions on the Common shares.

The income tax treatment for the 2012 distributions for CBL & Associates
Properties, Inc., depositary shares representing 1/10^th of a share of the
7.75% Series C Preferred Stock, CUSIP # 124830-50-6 on the NYSE traded under
ticker symbol "CBLPrC" is as follows:

                                                 
                                                      Distribution Type (Form 1099-DIV Box)
                                                                      Total       Unrecap.
                                                      Ordinary
                                                                      Long-Term   Sec. 1250
Declaration   Record     Payable      Distributions   Taxable
                                                                     Capital    Gain ^
Dates         Dates      Dates        Per Share       Dividend                    (1)
                                                                      Gain
                                                      (Box 1a)                    (Box 2b)
                                                                      (Box 2a)
02/24/12      03/14/12   03/30/12     $  0.484375     $ 0.484375      $ -         $ -
06/01/12      06/15/12   06/29/12     $  0.484375     $ 0.484375      $ -         $ -
08/30/12      09/14/12   09/28/12     $  0.484375   $ 0.484375    $ -       $ -     
                         Totals       $  1.453125   $ 1.4531250   $ -       $ -     
                         Percentage      100.000  %     100.000   %     0.000 %     0.000 %
                                                                                  
^(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term
Capital Gain (Box 2a).


No AMTI adjustment is included in the current year for the recipients of
distributions on the Series C Preferred shares.

On November 5, 2012, CBL completed the redemption of all 460,000 outstanding
shares of 7.75% Series C Cumulative Redeemable Preferred Stock (“Series C
Share”) and all outstanding depositary shares each representing 1/10^th of a
share of a Series C Share for a total Redemption Price of $25.19375 per
depositary share ($251.9375 per Series C Share).

The income tax treatment for the 2012 distributions for CBL & Associates
Properties, Inc., depositary shares representing 1/10^th of a share of the
7.375% Series D Preferred Stock, CUSIP # 124830-60-5 on the NYSE traded under
ticker symbol "CBLPrD" is as follows:

                                                 
                                                      Distribution Type (Form 1099-DIV Box)
                                                                      Total       Unrecap.
                                                      Ordinary
                                                                      Long-Term   Sec. 1250
Declaration   Record     Payable      Distributions   Taxable
                                                                     Capital    Gain ^
Dates         Dates      Dates        Per Share       Dividend                    (1)
                                                                      Gain
                                                      (Box 1a)                    (Box 2b)
                                                                      (Box 2a)
02/24/12      03/14/12   03/30/12     $ 0.4609375     $ 0.4609375     $ -         $ -
06/01/12      06/15/12   06/29/12     $ 0.4609375     $ 0.4609375     $ -         $ -
08/30/12      09/14/12   09/28/12     $ 0.4609375     $ 0.4609375     $ -         $ -
11/28/12      12/14/12   12/31/12     $ 0.4609375   $ 0.4609375   $ -       $ -     
                         Totals       $ 1.8437500   $ 1.8437500   $ -       $ -     
                         Percentage     100.000   %     100.000   %     0.000 %     0.000 %
                                                                                  
^(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term
Capital Gain (Box 2a).


No AMTI adjustment is included in the current year for the recipients of
distributions on the Series D Preferred shares.

The income tax treatment for the 2012 distributions for CBL & Associates
Properties, Inc., depositary shares representing 1/10^th of a share of the
6.625% Series E Preferred Stock, CUSIP # 124830-80-3 on the NYSE traded under
ticker symbol "CBLPrE" is as follows:

                                                 
                                                      Distribution Type (Form 1099-DIV Box)
                                                                      Total       Unrecap.
                                                      Ordinary
                                                                      Long-Term   Sec. 1250
Declaration   Record     Payable      Distributions   Taxable
                                                                     Capital    Gain ^
Dates         Dates      Dates        Per Share       Dividend                    (1)
                                                                      Gain
                                                      (Box 1a)                    (Box 2b)
                                                                      (Box 2a)
11/28/12      12/14/12   12/31/12     $ 0.3910600   $ 0.3910600   $ -       $ -     
                         Totals       $ 0.3910600   $ 0.3910600   $ -       $ -     
                         Percentage     100.000   %     100.000   %     0.000 %     0.000 %
                                                                                  
^(1) Amount reported as Unrecaptured Sec. 1250 Gain (Box 2b) is included in Total Long-Term
Capital Gain (Box 2a).


No AMTI adjustment is included in the current year for the recipients of
distributions on the Series E Preferred shares.

None of the dividends above represent “qualified dividend income” and,
therefore, are not eligible for reduced rates.

This information represents FINAL income allocations.

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.

Contact:

CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
katie_reinsmidt@cblproperties.com
 
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