FOR IMMEDIATE RELEASE

Contact:
Melinda Medlin or Kent Landers
Thompson & Baker
(901) 767-4780

or

Andrew J. Groveman
Belz Enterprises
(901) 260-7314

Belz Enterprises inks Jillian’s as second entertainment anchor for Retail and Entertainment addition at Peabody Place.

MEMPHIS, Tennessee, June 15, 1999 -- Belz Enterprises has announced that Jillian’s, a multi-dimensional food and entertainment retailer, will anchor 55,000 square feet of the new Peabody Place Retail and Entertainment Center currently under construction in downtown Memphis.

Featuring a Sports Video Café, more than 200 electronic simulation games, a bowling alley, a dance club, private party rooms, 12 billiard tables, banquet facilities, and seven bars, Jillian’s immerses families, tourists and business travelers in an unparalleled entertainment atmosphere.

One popular venue within the club will be the Sports Video Café and Bar. Designed as a gathering place to view ball games and other popular televised events, the café and bar will include an illuminated 50-foot bar with dozens of large-screen televisions. Sports Café menu items include Buffalo wings, quesadillas, burgers, grilled tenderloin and chicken fingers.

Jillian’s Memphis also will feature the Hibachi Grill. With the slogan, "dining at its wildest," the grill contains dozens of cooking islands where chefs prepare teppanyaki-style Japanese food as rock ’n roll fills the air. In its other locations, Jillian’s has utilized the Hibachi space as a location for corporate parties.

"One of Jillian’s many strengths is its ability to cater to a wide range of clientele," said Andrew J. Groveman, senior vice president, Belz Enterprises. "From corporate events to birthday parties, something within Jillian’s diverse atmosphere is a match for almost any occasion. The club will offer event planning services for their restaurants and entertainment outlets, and can accommodate almost any size group."

In addition to the club’s restaurants, Jillian’s also will incorporate four entertainment venues throughout the facility: a bowling alley, a dance club, a billiard room and hundreds of electronic games.

Jillian’s newest creation is HI-LIFE Lanes, an over-the-top multimedia bowling experience including 16 lanes, giant video screens, a Video Disc Jockey, a $1 million theatrical light show and mega-watt sound system, and a Retro Lounge.

"Jillian’s nationally known concept of combining food, entertainment and night life into one venue introduces a new retail-entertainment mix to Memphis that is not available anywhere else in the Mid-South," Groveman said. "As we continue to announce new tenants, both the tourism and business communities grow eager for the opening of this retail-entertainment destination we are creating in downtown Memphis."

The Jillian’s concept originated in Boston in 1988 when Jillian’s Chairman and CEO Steven Foster opened the company’s first location there. Today, Jillian’s parent company, Jillian’s Entertainment Holdings, Inc., operates 24 locations throughout the United States.

Previously announced, Muvico Theaters will be Peabody Place’s largest entertainment tenant, occupying a sprawling 90,000 square feet of space. The Muvico facility will feature 21 movie auditoriums and an IMAX® 3D with IMAX® PSE (Personal Sound Environment), all set in a theme atmosphere.

Anchored by Muvico and Jillian’s, the Peabody Place Retail and Entertainment Center will be the largest entertainment and retail offering in the region. Totaling 300,000 square feet of entertainment-oriented venues, retail stores and specialty shops, the center will feature category-leading retail anchors, dozens of fashion-forward specialty retailers and a number of nationally recognized theme restaurants.

The Peabody Place Retail and Entertainment Center currently is under construction between Second and Third streets in downtown Memphis. When complete, the center will be attached to the world-renowned Peabody Hotel.

The entire Peabody Place development will contain approximately two million square feet of space, 762 hotel rooms, 201 apartments, 565,000 square feet of office space, 420,000 square feet of retail space and 3,600 parking spaces. The development is the largest mixed-used land development currently under way in the United States.

Belz Enterprises is a leading innovator in real estate development with interests throughout the South and much of the country. Belz develops, owns and manages over 25 million square feet of industrial/warehouse/distribution centers, shopping centers, office buildings, mixed-use centers and corporate campuses. The company also owns a group of premier hotels including the Peabody Hotels in Memphis and Orlando and various suburban communities.

###