CBL Malls to Launch New CBL Select Gift Card

Gift givers who are looking for a versatile, multi-use gift card backed by American Express will be able to purchase them through CBL Malls beginning October 1^st. The CBL Select Gift Cards will replace the current CBL Malls Gift Card, which has been offered since 2004. (Multimedia available: http://www.cblproperties.com/cbl.nsf/cblselectgiftcard.gif).

"The gift card industry has evolved and gift card providers are looking for opportunities to differentiate themselves and offer shoppers convenience and versatility for their gift card purchases. As a result, CBL & Associates Properties, Inc. will continue their partnership with American Express and will offer shoppers the new CBL Select Gift Card,” said Barb Faucette -vice president of corporate mall marketing for CBL & Associates Management, Inc.

Previously, CBL Malls Gift Cards were only redeemable at retailers and restaurants that were located at a CBL property and that accepted American Express. The new CBL Select Gift Card will be redeemable at any location that accepts American Express. In addition, the new CBL Select Gift Card will not have any monthly service fees deducted over the life of the card – a first for this type of program. "It’s important to listen to your guests and to adapt accordingly to their buying needs. The ability to do so is what sustains longevity and economic growth during increasingly competitive times. CBL believes this new CBL Select Gift Card will provide shoppers more convenience and more shopping choices,” explained Faucette.

About American Express

American Express Company is a diversified worldwide travel, network and financial services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking. For more information, visit americanexpress.com.

About CBL & Associates Properties, Inc. (NYSE: CBL)

CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 161 properties, including 89 regional malls/open-air centers. The properties are located in 27 states and total 86.8 million square feet including 2.7 million square feet of non-owned shopping centers managed for third parties. CBL currently has three projects under construction totaling 1.8 million square feet including Settlers Ridge in Pittsburgh, PA; The Pavilion at Port Orange in Port Orange, FL; and The Promenade in D’Iberville (Biloxi/Gulfport), MS. Headquartered in Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, Dallas, TX, and St. Louis, MO. Additional information can be found at cblproperties.com.