Contact: Erin Brock
Andrew J. Groveman
Belz Enterprises

Donn Davids Joins Belz Factory Outlet World Division
as Vice President of Leasing

VP Brings 24 Years of Real Estate, Leasing Experience

MEMPHIS, Tenn. (Apr. 16, 2003) - Belz Enterprises has hired Donn L. Davids as vice president of leasing for its Factory Outlet Division. Davids will manage tenant leasing for the company's six outlet mall locations.

With 24 years of experience in commercial real estate, Davids has broad experience in leasing for outlet and regional malls. He has directed asset management, "big box" and mall leasing, and has served a real estate broker.

"Donn's solid background in retail leasing and real estate makes him an outstanding addition to our administrative team," said Belz Enterprises senior vice president Andy Groveman. "He has the skills and knowledge to enhance the success of our Belz Factory Outlet World locations."

Most recently with Glimcher Development of Columbus, Ohio, Davids served as regional leasing manager. He oversaw the leasing and redevelopment of SuperMall, the Northwest's largest enclosed outlet mall; and the largest single mixed-use property in Oregon, Portland's Lloyd Center.

Davids is licensed as a real estate broker in Ohio. He is a member of the International Council of Shopping Centers (ICSC) and spoke at the Ohio, Michigan and Indiana ICSC Idea Exchange Round Table. He is former president of Easter Seals of Central Ohio and served on the organization's board for three years. Davids was a board member of Columbus American Youth Hostels.

About Belz Enterprises
With headquarters in Memphis, Belz Enterprises is a multi-faceted real estate company with more than 30 million square feet of developed property including more than 40 shopping complexes, ranging from community shopping centers to regional malls. Belz developed and manages Factory Outlet Worlds in Lakeland and Pigeon Forge, Tenn.; Las Vegas, Nev.; St. Augustine, Fla. and Orlando, Fla., where the company also operates the Belz Designer Outlet Centre. In 2001, the firm opened Belz Factory Outlet World-Puerto Rico, the first enclosed factory outlet mall on Puerto Rico. In addition, Belz operates the 100 Oaks Mall in Nashville, Tenn. The company also has developed and owns a group of premier hotels, including the flagship Peabody Hotels in Memphis and Orlando and the recently opened Peabody Hotel in Little Rock, Ark.