ROSS 'DRESS FOR LESS' CELEBRATES GRAND OPENING AT 100 OAKS MALL

Nashville, Tenn. (May 24, 2004) – Ross 'Dress for Less', an off-price retailer of name-brand and designer merchandise for the entire family, has chosen 100 Oaks Mall as the location for its first Nashville store. A grand opening will be held to celebrate on Saturday, May 29.

"We are excited to offer our customers the great value and savings that are synonymous with the Ross brand," said Andrew J. Groveman, senior vice president of Belz, owner and developer of 100 Oaks Mall. "The addition of the first Ross 'Dress for Less' in the city of Nashville is of great significance to 100 Oaks Mall."

The new Ross 'Dress for Less' store will occupy over 30,000 square feet of space and offer first-quality, in-season, name-brand and designer apparel, accessories and footwear for the entire family at everyday savings of 20 to 60 percent off department and specialty store prices. In addition, the same savings can be found at Ross on a wide variety of merchandise for the home.

About Ross
Ross Stores, Inc. began in 1982 with six stores in the San Francisco Bay Area. The chain grew through the 1990s, with about 70 percent of the company's business in California, Texas and Florida. The company has recently added Tennessee, Louisiana and Alabama to its market reach. At the end of 2003, there were 568 Ross 'Dress for Less' stores in 25 states and Guam.

About Belz
With headquarters in Memphis, Tenn., Belz is a multi-faceted real estate company with over 30 million square feet of developed property, including more than 40 shopping complexes, including Belz Factory Outlet Worlds in Pigeon Forge, Tenn.; Puerto Rico; Orlando, Fla.; and St. Augustine, Fla. For more information, please visit www.belz.com.