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Taubman Northlake Mall Debut in Charlotte, N.C. Draws Thousands Eager to Explore New Options, Amenities

95% of the stores will be open by the Holidays


Thousands of enthusiastic shoppers today arrived to welcome Northlake Mall to Charlotte, N.C.

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Developed by Taubman Centers Inc. (NYSE: TCO), the 1.1-million-square-foot enclosed shopping center brings a new retail mix and new-to-the-market amenities to the area. It is Taubman's first North Carolina development.

Today's early birds -- many of them arriving more than two hours before the stores opened to the public -- enjoyed a free outdoor Community Welcome Breakfast followed by an opening ceremony in the Grand Court.

At the opening ceremony, Taubman Centers presented a $25,000 check to the American Red Cross Greater Carolinas Chapter. The funds will be used by the chapter to help disaster victims in Mecklenburg and Iredell Counties.

Located at I-77 and W.T. Harris Blvd. in Charlotte, N.C., Northlake Mall features five anchors stores -- Belk (180,000 square feet), Dillard's (180,000 square feet), Hecht's (165,000 square feet), Dick's Sporting Goods (79,000 square feet) and a 14-screen AMC movie megaplex -- plus a dynamic mix of up to 145 specialty shops and eateries.

The new shopping center also brings Charlotteans a host of amenities -- from the nation's first indoor Looney Tunes children's play area to free Internet access and a dedicated Sports Court with large-screen TVs for viewing sporting events.

The center debuted with 120 of the stores and restaurants that have announced plans to open at the shopping center. More stores will open throughout the fall and winter.

"We are pleased to be opening Northlake Mall 95% leased and committed," says Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. "By Christmas about 95% of our stores will be open. It's a true testament to the City of Charlotte and to the Northlake Mall site in particular that such a marvelous mix of retailers have chosen to be a part of this shopping center."

Taubman says he expects the new, state-of-the-art center to be a particularly strong draw for Charlotte's rapidly growing northern communities.

Taubman Centers, a real estate investment trust, owns and/or manages 23 regional and super regional shopping centers in 11 states. The company is headquartered in Bloomfield Hills, Mich. Additional information about Taubman Centers can be obtained from the company's website at .

LOONEY TUNES and all related characters and elements are trademarks of and ©Warner Bros. Entertainment Inc.(s05)

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 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 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.

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SOURCE: Taubman Centers, Inc.

CONTACT: Karen Mac Donald, Media, +1-248-258-7469, , or Barbara Baker, Investors, +1-248-258-7367, , both of Taubman Centers, Inc.

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