119 Tenants Now Under Construction At the Mall At Millenia.

Business Editors/Retail Writers

ORLANDO, Fla.--(BUSINESS WIRE)--Aug. 29, 2002

The Forbes Company and Taubman Centers, Inc. (NYSE:TCO) today announced that 119 tenants are now on site and under construction at The Mall at Millenia, a 1.2 million square foot, two-level, super-regional center opening this October 18th in Orlando, Florida. Construction is nearing completion on The Mall at Millenia's anchors, the market's first and only Neiman Marcus, Bloomingdale's and Macy's.

More than 450,000 square feet of tenant space at the Center is now under construction, representing approximately $100 million in build-out cost. Developers estimate that 3,000 additional workers will join the thousands of jobs that have been created by the department store and mall construction.

"Today's announcement exceeds our expectations. It is a tribute to the vibrancy of the Orlando market and the combined effort of The Forbes Company and Taubman Centers, Inc. team," says Nathan Forbes, partner of The Forbes Company, and managing partner of The Mall at Millenia. "This is the largest retail construction project to date in the City of Orlando," added Ken Wagner, director of permitting, City of Orlando.

Stores new to the Orlando market, under construction and announced for the first time today include J. Jill (women's apparel, accessories and footwear) and Dry Ice (children's bedroom furnishings), plus two retailers new to Florida, Inner Self (high quality women's intimate apparel and bath products) and Salon Cielo (specialty salon offering hair and spa services). Also underway and bringing a new merchandising category to the Center is Finish Line (brand-name athletic shoes and apparel for men, women and children). A complete list of tenants under construction is attached.

Tenant construction plans reveal an array of distinctive, high-quality design details, building materials, finishes and fixtures. Unusual flooring designs include a lipstick red carpet (Lancel); jewel-embedded floors (Rocks Fine Jewelry); bamboo wood (The Body Shop) and an epoxy floor depicting a smoothie (Fruit Sensations). Storefronts and entryways range from brick (Coach, Rampage) to limestone (Louis Vuitton and Hugo Boss) to granite (Na Hoku).

Store ceilings systems and materials will also be novel, such as fabric (Apple Computer) and tongue and groove pinewood (Crate & Barrel). Giorgio's of Palm Beach's one dozen Swarovski chandeliers, Finish Line's giant basketball hoop above its cash wrap, and Tommy Bahama's Feng Shui-inspired store layout exemplify the attention to detail showcased across the board in owner, anchor and tenant construction plans.

The Center will offer 150 of the world's finest stores, luxury brands and specialty retailers. In addition to its internationally recognized department stores and well-rounded tenant mix, The Mall at Millenia's dramatic architecture, soaring glass entries, end-to-end "S"-shaped skylight and innovative uses of water and technology will assure its place as a landmark property. The Center will be further distinguished by its array of superior guest-friendly amenities and services creating an atmosphere that is fresh, exciting and engaging.

The Mall at Millenia is conveniently located just minutes from every major residential and visitor hub in Orlando. The center is visible and conveniently accessed from a new I-4 interchange (Conroy Road, Exit 78); within an easy drive to most Orlando neighborhoods; only minutes from the Florida Turnpike, the Orange County Convention Center, Universal Orlando and Sea World; 10 minutes from downtown Orlando; 12 minutes from Orlando International Airport; 15 minutes from Walt Disney World Resort; and within 20 minutes to 100,000 hotel rooms.

About The Co-Developers

Co-developers, The Forbes Company and Taubman Centers, Inc. are each 50% partners in The Mall at Millenia. Based in Southfield, Mich., The Forbes Company is a nationally recognized owner, developer and manager of distinctive regional shopping centers that provide exceptional retail experiences in each of their respective markets. Taubman Centers, Inc. (NYSE:TCO), a real estate investment trust, currently owns and/or manages 29 urban and suburban regional and super-regional shopping centers in 13 states. Taubman Centers is headquartered in Bloomfield Hills, Mich.

  The following tenants and anchor stores are under construction as
              of August 29, 2002 at The Mall at Millenia

Adrienne Vittadini
Aerosoles
Alviero Martini
American Eagle
Ann Taylor
Anthropologie
Arden B.
Apple Computer
AT&T Wireless
Banana Republic
Bang & Olufsen
Barnie's Coffee & Tea
Bath & Body Works
Bebe
Bernini
Best Brand Electronics
Bloomingdale's (anchor)
Blooming Beauty
Bistro Sensations
Brighton
Brio
Brookstone
Brooks Shoes For Kids
Burberry
Cache
California Pizza Kitchen
Cartier
Casual Corner/Petite Sophisticate
Chanel
Chick-fil-a
China Town
Coach
Cole-Haan
Coco Lunette
Crabtree & Evelyn
Crate & Barrel
Discovery Channel Store
Dry Ice
EBX
Everything But Water
Express
Express for Men
Finish Line
XXI Forever
Furla
Fruit Sensations
Futuretronics
Gap
Baby Gap
Gap Body
Gap Kids
Giorgio's of Palm Beach
Godiva
Gourmet Grill
Guess
Gucci
Gymboree
Haagen Dazs
Hollister Co.
Hugo Boss
Icing
Inner Self
Japanese Weekend
J. Jill
Johnny Rockets
Kelly's Cajun Grill
Kenneth Cole
KB Toys
Kirkland's
Lacoste
Lancel
Lenscrafters
Lillie Rubin
Lindt Chocolates
Lladro
Louis Vuitton
Lucky Brand
Macy's (anchor)
Marmi
MaxStudio.com
McCormick & Schmick
Morgan de Toi
Mrs. Field's cookies
Na Hoku
Neiman Marcus (anchor)
Nori Sushi and Grill
Nine West
Oilily
Pacific Sunwear
Panera Bread
Park Promenade Jewelers
P.F. Chang's
Pottery Barn Kids
Quicksilver
Rampage
Rocks Fine Jewelry
Salon Cielo
Sharper Image
Signature Salon
Sisley
Starbucks Coffee
St. John
Southwest Grill
Sporting Eyes
Sunglass Hut
Swarovski
Talbots
Tango Grill
The Body Shop
The Cheesecake Factory
Things Remembered
Tiffany & Co.
Tommy Bahama
Unisa
United Colors of Benneton
Victoria's Secret
Walden Books
Walking Company
Wet Seal
Williams-Sonoma
Yankee Candle
Z Gallerie                                                                                                                             NEWS