FOR IMMEDIATE RELEASE

Close To 6 Million People Visited 100 Oaks Mall In First Half Of ’98

Attendance 40% Ahead of Last Year

Memphis, Tenn. (August 14, 1998) -- Located in the center of Nashville, Belz Enterprises’ 100 Oaks Mall is doing better than ever. 100 Oaks Mall has captured not just the hearts of “Nashvillians” and shoppers from the region, but tourists as well, with the addition of crowd pleasers such as the Regal Hollywood 27 Cinema and Mars Music Store. The mall reports that close to six million shoppers visited during the first six months of this year, an increase of 40% over comparable 1997 figures.
    “We attribute this increase in traffic to the designer brand stores and excellent values that can be found at 100 Oaks Mall, its central location, and the addition of several new stores and entertainment components,” says Andrew J. Groveman, Senior Vice President of Belz Enterprises, commenting on data from the company’s just released Mid-Year 1998 Shoppers Index which monitors traffic at the mall.
    100 Oaks Mall, the 750,000-square-foot mall that features more than 40 stores, attracted 5,964,688 shoppers in the first half of 1998 -- an impressive 40% increase over the 4,272,067 shoppers tallied in the 1997 index.
    Recent crowd drawing additions to 100 Oaks include one of the hottest musical instruments and retail chains in the country, Mars Music Store, which opened a 40,000-square-foot mega store at the mall in July. Another huge crowd pleaser is the Regal Hollywood 27 Cinema, a 107,000-square-foot, 27-screen mega-plex theater, the largest theater east of the Rockies. The facility features all-stadium seating as well as a state-of-the-art digital sound system comprised of the Digital Theater System (DTS), Dolby Digital and Sony Dynamic Digital Sound (SDD).
    Current anchor stores include Off 5th -Saks Fifth Avenue, Reebok, TJ Maxx, JC Penney, the Burlington Coat Factory, among many others.
    100 Oaks Mall was built by Belz Enterprises in 1967 as the second enclosed mall in the Southeast and the first shopping mall in Tennessee.
    With headquarters in Memphis, Tenn., Belz Enterprises is also a leading developer and manager of factory outlet malls nationwide. In addition to 100 Oaks Mall, Belz owns and manages Factory Outlet Worlds in Lakeland and Pigeon Forge, Tenn., Las Vegas, and Orlando, Fla. Belz Enterprises is also developing a factory outlet mall in St. Augustine, Fla. and Puerto Rico, and “Festival Bay at International Drive”, a lifestyle retail complex in Orlando. The company has also developed and owns a group of premier hotels, including the flagship Peabody Hotels in Memphis and Orlando.
    Belz is a multi-faceted real estate company with more than 25 million square feet of developed property including more than 40 shopping complexes, ranging from community shopping centers to regional malls, as well as industrial/warehouse/distribution facilities and developments, office parks and corporate campuses, hotels.

 
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