Forever 21 and XXI Stores Expand at Taubman Centers

BLOOMFIELD HILLS, Mich., April 22 /PRNewswire-FirstCall/ -- Taubman Centers, Inc. (NYSE: TCO) announced today the launch of major expansions of the trendy and budget-friendly Forever 21 and XXI stores at five of the company's U.S. shopping centers.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080428/CLM116LOGO  )

"Forever 21 has been one of the hottest retailers in the U.S. over the last several years and we are very excited to announce these significant space expansions. We were one of the first developers to embrace this company and expand them throughout our industry leading portfolio. We were also the first developer to do the large format Forever 21's in our shopping centers," said David Weinert, Taubman’s senior vice president, leasing.

Forever 21 and XXI Forever stores will build new, larger in-line spaces at Beverly Center in Los Angeles, CA; Sunvalley Shopping Center in Concord, CA; Dolphin Mall in Miami, FL; Great Lakes Crossing in Auburn Hills, MI. and Twelve Oaks Mall in Novi, MI. Offerings of affiliated stores For Love 21 and Heritage 1981 will in some cases be incorporated into the new stores, which will feature an expanded array of fashion-forward women's and men's clothing and accessories at value prices. Construction of the new stores begins soon, with scheduled openings from July of this year through early 2011.

Forever 21 Executive Vice President Larry Meyer shares in this excitement and says, "We are very pleased to open five new fashion stores in strong Taubman malls so that we can offer more merchandise categories having the fashion and affordability that is Forever 21. We are also pleased to be adding new jobs during this challenging economic time."

Forever 21, Inc., headquartered in Los Angeles, is a specialty retailer of women's and men's clothing and accessories, known for offering the hottest and most current fashion trends at a great value to consumers. Forever 21's model of fast fashion works by keeping the store exciting with fresh merchandise offerings brought in daily. The retailer operates over 480 stores in the United States, with international operations in Canada, Korea and Japan. For more information please visit: Forever21.com

Taubman Centers is a real estate investment trust engaged in the development, leasing and management of regional and super regional shopping centers. Taubman's 26 U.S. owned, leased and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Mich. and its Taubman Asia subsidiary is headquartered in Hong Kong. Founded in 1950, Taubman celebrates its 60th anniversary in 2010. For more information about Taubman, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers", "company" or "Taubman" mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the continuing impacts of the U.S. recession and global credit environment, other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

SOURCE Taubman Centers, Inc.