CBL & Associates Properties, Inc. and Stirling Properties Announce Dillard’s to Anchor Phase II of Fremaux Town Center in

  CBL & Associates Properties, Inc. and Stirling Properties Announce Dillard’s
  to Anchor Phase II of Fremaux Town Center in Slidell, LA

              Construction is Underway on Phase I of the Project

Business Wire

CHATTANOOGA, Tenn. & COVINGTON, La. -- May 10, 2013

CBL & Associates Properties, Inc., (NYSE: CBL) and Stirling Properties today
announced that Dillard’s (Dillard’s, Inc. NYSE: DDS) will anchor the
fashion-oriented Phase II of Fremaux Town Center in Slidell, Louisiana.

Phase I of the project is currently under construction with approximately
330,000 square feet anchored by Kohl’s, Dick’s Sporting Goods, Michael’s,
T.J.Maxx, and Best Buy. Phase II will include up to 320,000 square feet of
additional retail space. The grand opening for Phase I is scheduled for March
2014, with construction on Phase II set to begin around that same time with an
opening in spring 2015.

“With construction underway on Phase I, we are pleased to welcome a key
department store such as Dillard’s to Phase II,” said Michael Lebovitz, CBL’s
executive vice president – development and administration. “The traction we
are receiving from retailers for both phases is a testament to the strength of
the market and its increasing demand for retail.”

“Fremaux Town Center has tremendous momentum at this stage and we are thrilled
with Dillard’s decision to join the project,” said Townsend Underhill,
Stirling Properties’ senior vice president of development. “Upon completion of
both phases we believe this project will be the premiere retail property in
the Slidell market and something that local residents can be very proud of.”

Dillard’s will open a single-level, 126,000-square-foot store featuring a
large selection of fashion apparel, cosmetics and home merchandise tailored
specifically to the tastes and preferences of Dillard’s Slidell-area
customers. These assortments will reflect the Company's strong commitment to
provide shoppers with more choices in premium brands, including Dillard’s
exclusive- label merchandise. Dillard’s at Fremaux Town Center will feature
the Company’s latest advances in store design and presentation.

Dillard’s Chief Executive Officer, William Dillard, II, stated, “We are
pleased to announce our commitment to Fremaux Town Center. We enjoy a strong
relationship with our Slidell area customers and we are looking forward to
serving them at an even higher level. CBL and Stirling Properties are building
a premier destination center and we are happy to be part of it.”

Fremaux Town Center Phase I is currently more than 70% leased with committed
retailers such as Dick’s Sporting Goods, Michaels, Kohl’s, PetSmart, T.J.Maxx,
LongHorn Steakhouse, dressbarn, ULTA Beauty, Lane Bryant, Rack Room Shoes,
Best Buy and Versona Accessories. Fremaux Town Center will be located on more
than 80 acres at the southwest corner of Interstate 10 and Fremaux Avenue in
Slidell, LA. Slidell is the largest municipality in St. Tammany Parish on the
northern shore of Lake Pontchartrain near the city of New Orleans. The area
has experienced significant growth following Hurricane Katrina. With its
interstate location and high-visibility, Fremaux Town Center is expected to
become a regional destination. Stirling is leading the development of the
project and CBL and Stirling are jointly leasing and marketing the center.

For leasing information, please contact Ryan Pecot by telephone at
337.572.0246 or by email at rpecot@stirlingprop.com or Rodney Gordon by
telephone at 423.553.8704 or by email at rodney_gordon@cblproperties.com.

For information on available outparcels, please contact Ryan Pecot or Robert
Snetman by telephone at 423.490.8333 or by email at
robert_snetman@cblproperties.com

About Dillard’s, Inc.

Dillard’s, Inc. ranks among the nation’s largest fashion apparel and home
furnishings retailers with annual revenues exceeding $6.5 billion. The Company
focuses on delivering maximum fashion and value to its shoppers by offering
compelling apparel and home selections complemented by exceptional customer
care. Dillard’s stores offer a broad selection of merchandise and feature
products from both national and exclusive brand sources. The Company operates
283 Dillard’s locations and 18 clearance centers spanning 29 states. For more
information about Dillard’s, please visit www.dillards.com.

About Stirling Properties

A member of the Retail Brokers Network, Stirling Properties is a regional real
estate firm offering comprehensive services in development; commercial
brokerage; property and asset management; investment sales; and property owner
and tenant representation. Stirling Properties’ portfolio includes over 14
million square feet of managed property and 60 million square feet of
commercial properties for sale or lease. With offices located in Jackson,
Mississippi; Baton Rouge, Lafayette, New Orleans, Metairie, Covington,
Hammond, and Shreveport/Bossier City in Louisiana, Stirling is one of the
largest real estate firms in the Gulf South. Connect with Stirling Properties
on the web at www.stirlingproperties.com, “like” us at
facebook.com/stirlingproperties, follow us @StirlingProp on
twitter.com/StirlingProp or subscribe to our Stirling Insights blog.

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
158 properties, including 96 regional malls/open-air centers. The properties
are located in 31 states and total 92.7 million square feet including 10.5
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 atcblproperties.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