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NEIMAN MARCUS, NORDSTROM, SAKS FIFTH AVENUE COMING TO THE MALL AT SHORT HILLS

 NEIMAN MARCUS, NORDSTROM, SAKS FIFTH AVENUE
 COMING TO THE MALL AT SHORT HILLS
 SHORT HILLS, N.J., May 28 /PRNewswire/ -- Neiman Marcus, Nordstrom and Saks Fifth Avenue will be joining Bloomingdale's and Abraham & Straus as anchor stores in The Mall at Short Hills. The tree new anchors are planning to open for business in the fall of 1995, along with an additional 100,000 square feet of new mall shops.
 "The addition of these distinguished retailers reaffirms the Mall at Short Hills' position as one of the nation's premier shopping destinations," said William S. Taubman, senior vice president of The Taubman Company, the center's developers and managers. The mall is owned by a joint venture of Taubman interests and Newark-based Prudential Insurance Company of America.
 Demolition of the center's B. Altman and Bonwit Teller stores-closed since December 1989 and May 1990, respectively -- is scheduled to begin next spring to make way for a late 1993 or early 1994 construction start. The 130,000 sq. ft. (approx.) Neiman's, 170,000 sq. ft. (approx.) Nordstrom, and the new mall shops will be built in the area of the old B. Altmans store. Saks will build a 100,000 sq. ft. (approx.) store near the vacated Bonwit Teller location.
 "The opportunity to redevelop these valuable anchor locations enables us to strengthen the center for the '90s and beyond," said Taubman. "These exciting new retail offerings effectively address the service and merchandise needs of our customers, and we're confident our construction objectives can be met with little or no inconvenience to our shoppers."
 The mall's expansion will be completed within current zoning requirements. The Taubman Company plans to file for final site plan approval with Millburn Township's Planning Board this fall.
 Attending today's press conference at the center was Millburn Township Mayor Frank W. Long. Mayor Long welcomed the new retailers to Short Hills and praised the business expansion for "reinforcing and enhancing one of our community's most important assets."
 Representing The Prudential, Brian Strum, CEO of development and retail for the company's real estate investment arm, said, "As the original owner and developer of the property, we are very excited about having these truly pre-eminent retailers join us. The mall has always been the location of choice for area shoppers. Now it will become an irresistible magnet."
 Commenting for Dallas-based Neiman Marcus, executive vice president- administration Lawrence Elkin said, "This will be an important new market for Neiman Marcus. We're excited by the opportunity to be part of what will be the area's leading up-scale retail development."
 For Seattle-based Nordstrom, the Short Hills store will be their fourth in New Jersey. Cody Kondo, Nordstrom vice president, Northeast Region, said, "We are proud to be part of this powerful renovation plan. The geographical area that The Mall at Short Hills serves is extremely attractive to us, and we look forward to serving customers there."
 "Saks Fifth Avenue is embarking on an exciting expansion program which includes opening new stores and repositioning a number of existing stores," said Melvin Jacobs, Saks' chairman and chief executive officer. "At Short Hills, we will be able to offer our customers in this market an exciting new shopping environment."
 The Mall at Short Hills, located at the intersection of Route 24 and John F. Kennedy Parkway, was originally developed in the early 1950s by Prudential. The pioneering open-air center featured free standing Bonwit Teller, B. Altman and Bloomingdale's stores.
 In the mid-1970s Taubman joined with Prudential in redeveloping the property into an enclosed regional mall, adding Abraham & Straus. Today, the mall offers a unique collection of over 140 retailers from around the world.
 -0- 5/28/92
 /CONTACT: Ilonka Leonard of The Mall at Short Hills, 201-376-7350/ CO: The Mall at Short Hills ST: New Jersey IN: REA SU:


PS-LR -- NY091 -- 4983 05/28/92 17:45 EDT
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Date:May 28, 1992
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