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LUXURY ON THE RISE AT THE MALL AT MILLENIA Salvatore Ferragamo and Juicy Couture Add to the Merchant Mix

5/9/2006

ORLANDO, FL (May 9, 2006) – Orlando consumers’ increasing thirst for luxury brands will be quenched by three new fashion-forward developments at The Mall at Millenia: the opening of Salvatore Ferragamo and Juicy Couture in-line stores, and the addition of women’s apparel to the existing Chanel boutique.

Juicy Couture, the powerhouse lifestyle brand, is under construction and expected to open in July. Liz Claiborne purchased Juicy Couture nearly three years ago. The acquisition helped the brand to expand from department stores to in-line stores. The Mall at Millenia is Juicy’s fifth boutique with eight to ten planned to open in the U.S. next year. The 2,571-square-foot store at the Mall at Millenia will be the first in the state of Florida. Located on the upper level near grand court, Juicy Couture will feature sophisticated, yet fun fashion for women, men and children.

Salvatore Ferragamo, one of the most prestigious and best “Made in Italy” luxury brands, is scheduled to open in the fall of 2006. The 3,534-square-foot store, located on the upper level near Neiman Marcus, will include a selection of shoes, leather goods, accessories, fragrances and apparel for women and men.

As a result of its success at The Mall at Millenia, the Chanel boutique will add women’s ready to wear to the current offering of accessories, shoes and jewelry. Chanel at The Mall at Millenia will become the third store in Florida to offer women's apparel and remains the only Chanel boutique in central Florida.

“It is always exciting to watch as our Center evolves, and the shopping experience is enhanced for our guests,” said Steven Jamieson, general manager. “Chanel’s addition of apparel broadens our depth in designer ready to wear and the addition of two internationally recognized brands is a clear example that The Mall at Millenia a unique shopping destination”.

The Forbes Company is a nationally recognized owner, developer and manager of distinctive regional shopping centers that provide exceptional retail experiences in each of their respective markets. Based in Southfield, Michigan, the developer is known for creating landmark retail properties designed with dramatic architecture, and offering environments that attract internationally recognized anchor stores with a mix of world-renowned luxury merchants and nationally successful restaurants. For more information please visit theforbescompany.com. Taubman Centers, Inc., (NYSE:TCO) is a partner with The Forbes Company in The Mall at Millenia. Taubman Centers, Inc. (NYSE: TCO), a real estate investment trust, owns, develops, acquires and operates regional shopping centers nationally. Taubman Centers currently owns and/or manages 22 urban and suburban regional and super regional shopping centers in 10 states. Taubman Centers is headquartered in Bloomfield Hills, Michigan.