Feldman Mall Properties, Inc. Announcements

NEW YORK, May 21 /PRNewswire-FirstCall/ -- Feldman Mall Properties, Inc. (Pink Sheets: FMLP) made the following announcements:

Northgate Mall

The court appointed receiver, Douglas Wilson Companies ("Receiver"), and the Company's subsidiary, Feldman Equity Management LLC ("FEMLLC"), have entered into a Management Agreement, pursuant to which FEMLLC will provide professional real estate management services to the Receiver in connection with its operation of the Northgate Mall.  The terms are substantially the same as those between FMP Northgate LLC and FEMLLC prior to the appointment of the Receiver.

Stratford Square Mall

The Company's subsidiary, FMP Stratford LLC, has succeeded in extending the maturity date of the $104,500,000 first mortgage loan encumbering Stratford Square Mall to May 9, 2011.

About Feldman Mall Properties, Inc.

The Company's shares of common stock are quoted on Pink OTC Markets, a privately-owned company formerly known as Pink Sheets, which operates Pink Quote.  The Company's portfolio, including non-owned anchor tenants, now consists of two regional malls aggregating approximately 2.065 million square feet, excluding Northgate Mall.  For more information on Feldman Mall Properties Inc., visit the Company website at www.feldmanmall.com.

SOURCE Feldman Mall Properties, Inc.