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Taubman Files Shelf Registration

BLOOMFIELD HILLS, Mich., Nov. 26 /PRNewswire/ -- Taubman Centers Inc. (NYSE: TCO) today announced the filing of an equity shelf registration with the Securities and Exchange Commission for future primary offerings by the company.

Taubman Centers Inc., a real estate investment trust, is the managing general partner of The Taubman Realty Group Limited Partnership (TRG), which owns, develops, acquires and operates regional shopping centers nationally.

When the registration statement becomes effective, Taubman Centers may offer from time to time common shares and warrants to purchase common shares with an aggregate offering price of up to $250 million. Prices and terms will be determined at the time of the offerings. "Taubman Centers' Board of Directors has not authorized an offering under the registration statement; however, we anticipate that we will use the net proceeds from any offering to acquire additional newly issued interests in TRG. TRG will use the cash received for general partnership purposes, including the repayment of debt," said Robert S. Taubman, president and chief executive officer.

Although a registration statement relating to these securities has been filed with the Securities and Exchange Commission, it has not yet been declared effective by the Commission. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. At such time as the company engages in any offering of the securities, a prospectus and related prospectus supplement may be obtained from Barbara Baker, director of investor relations, 200 East Long Lake Road, Bloomfield Hills, Michigan 48304.

Taubman Centers' portfolio includes 20 urban and suburban regional and super regional shopping centers in 11 states. The company is headquartered in Bloomfield Hills, Michigan.

SOURCE Taubman Centers Inc.
 -0- 11/26/96

/CONTACT: Christopher J. Tennyson, 810-258-7519, or Barbara K. Baker, 810-258-7367, both of Taubman Centers/


CO: Taubman Centers Inc. ST: Michigan IN: SU:

SC -- DETU002 -- 4252 11/26/96 09:48 EST
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Publication:PR Newswire
Date:Nov 26, 1996
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