CBL Names Chief Development Officer and Forms New Development Leasing Team to Facilitate Its Aggressive Development Plans.

CHATTANOOGA, Tenn. -- CBL Also Promotes Executive to Vice President - Mall Leasing

CBL & Associates Properties, Inc. (NYSE:CBL) today announced the promotion of Michael I. Lebovitz to Senior Vice President - Chief Development Officer. In his new role, he will be responsible for directing the Company's aggressive development program including new projects such as regional malls, open-air, mixed-use, lifestyle and community centers, as well as redevelopments, renovations and expansions of CBL's existing portfolio of properties. Mr. Lebovitz previously served as Senior Vice President - Mall Projects.

"We congratulate Michael on this promotion and look forward to the strong leadership and expertise he will bring to his new role," said Stephen Lebovitz, president of CBL & Associates Properties, Inc. "Michael has made significant contributions to the growth of CBL including the development of numerous regional malls from coast to coast. The cohesiveness and synergies created through this new position will greatly benefit CBL's current and future development pipeline."

In conjunction with this promotion, CBL also announced the creation of a development leasing group within the corporate leasing division. The team will be dedicated exclusively to leasing the Company's new developments, including such projects as Gulf Coast Town Center in Fort Myers, FL, Alamance Crossing in Burlington, NC, and Pearland Town Center near Houston, TX. John Waller, current Vice President - Mall Leasing, will oversee the new leasing group as Vice President - Development Leasing and will be assisted by Justice Wade, Director - Development Leasing.

Lebovitz stated, "This reorganization of the development team and the creation of the development leasing group will allow us to fully leverage our strength as one of the leading developers of retail properties in the country. While we currently have an active development program, by streamlining our organizational structure, we expect to take our development program to an even higher level of activity. In addition, we will remain at the forefront of the convergence of new retail formats in the shopping center industry. This is part of our ongoing efforts to accelerate the growth of CBL going forward to build on the success we have experienced during our first 13 years as a public company."

CBL also announced the promotion of Jan Wills to Vice President - Mall Leasing. She previously served as Regional Leasing Director and was responsible for supervising the Carolina Region, which consists of 12 malls including Coastal Grand-Myrtle Beach, which opened in March 2004. In her new role, Ms. Wills will join Howard Grody, Vice-President - Mall Leasing, to oversee the regional leasing directors for CBL's properties.

Lebovitz added, "Jan has brought new and innovative ideas to CBL in her 11 years with the company. She is steadfast in her dedication and commitment. We expect her creativity and guidance will continue to benefit our leasing team and CBL as a whole."

Below is background information about Michael Lebovitz and Jan Wills:

Michael Lebovitz - Senior Vice President - Mall Projects Promoted To Senior Vice President - Chief Development Officer

Michael I. Lebovitz served as Senior Vice President - Mall Projects of CBL since January 1997. Prior to that time, Mr. Lebovitz served as Vice President - Development and as a project manager for the Company. He joined CBL in 1988 as a project manager for CoolSprings Galleria in Nashville, Tennessee, and was promoted to Vice President in 1993. Prior to joining CBL, he was affiliated with Goldman, Sachs & Co. from 1986 to 1988. He is a member of the United States Holocaust Memorial Council, board member of Hillel, board member of United Jewish Communities, a past President of the Jewish Community Federation of Greater Chattanooga and a board member of the UC Foundation.

Jan Wills - Regional Leasing Director Promoted To Vice President - Mall Leasing

Jan Wills (formally Bass) joined CBL as a Leasing Manager in May 1995 and shortly thereafter was assigned the leasing responsibilities for Arbor Place - Douglasville Georgia, which opened in October 1999. In January 2001, Jan was promoted to Regional Leasing Director - New Malls. Her primary assignment in the New Mall area was Coastal Grand while at the same time handling the role as a Regional for the Georgia - Tennessee region. In 2003, she was reassigned as Regional Leasing Director for the Carolina's, which has continued through today.

About CBL

CBL is one of the largest and most experienced owners and developers of malls and shopping centers in the country. CBL owns, holds interests in or manages 127 properties, including 79 regional malls/open-air centers. The properties are located in 26 states and total 72.7 million square feet including 2.0 million square feet of non-owned shopping centers managed for third parties. CBL currently has ten projects under construction totaling 2.3 million square feet including Phase II of Gulf Coast Town Center in Ft. Myers, FL; two open-air shopping centers; two community centers, two associated centers and three expansions. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA and Dallas, TX. Additional information can be found at http://cblproperties.com.