Taubman

Riverstone Announced as Official Name for Songdo Shopping Center

Hong Kong, April 8, 2009 – Taubman Asia Management Limited, a subsidiary of U.S. mall REIT, Taubman Centers, Inc., today announced “Riverstone” as the official name for the shopping center under development in the Songdo International Business District (Songdo IBD), a 1,500-acre city being built in Incheon, Korea.

“We are delighted to announce ‘Riverstone’ as the official name of the shopping center at Songdo IBD in South Korea,” said Morgan Parker, President of Taubman Asia. Created as an integrated space, the two level enclosed regional shopping center designed by world famous architect, Daniel Libeskind, with interior design by Benoy, will be the first of its kind in Korea. According to Mr. Parker, “the name ‘Riverstone’ expresses the dynamic relationship between the movement of nature and the built spatial environment to create a harmony of human scale and urban activity. Like the smooth flow of water across the riverbed, customers will circulate with ease through the linked series of spaces at Riverstone. The layout of ‘Riverstone’ inspires by name, ‘river + stone’, with the mall snaking its way through the neighboring structuring and parkland (the Central Park, the Northeast Asia Trade Tower, hotel, office building and the Songdo Convensia Convention Center), defining the streetscape and perspective views. ‘Riverstone’ will become South Korea’s first international style shopping mall and as a premier shopping venue in Korea. To achieve this, Taubman Asia will integrate the essential ingredients of convenience and superior store merchandising, making ‘Riverstone’ a truly world-class destination.”

Taubman Asia is the fee developer for the 1,130,000 square feet (105,000 square meter) retail and entertainment complex, which is scheduled to open in late 2011.

The shopping hub of Songdo IBD will also feature major tenants Lotte Department Store, Tesco Homeplus hypermarket, Megabox Cinemas, a food emporium, ice rink and approximately 150 specialty stores.

About Taubman Asia

Taubman Asia is a subsidiary of Taubman Centers – a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman Centers is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman’s 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, visit www.taubman.com.

About Gale International

Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea. More information on Gale International may be found at www.galeintl.com.

About Songdo International Business District

Songdo International Business District, the "Gateway to Northeast Asia," is being developed by New York headquartered Gale International and Korea’s Posco E&C. Songdo International Business District (IBD) officially opens August 2009, as the first “new” city in the world designed and planned as an international business district. The U.S. $35 billion, 100 million square foot master-planned metropolis will include forty-five million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. When fully completed in 2015, Songdo IBD will be home to 65,000 people and 300,000 will work there. Songdo IBD is located within the Incheon Free Economic Zone.

Songdo IBD will offer every conceivable amenity including a world-class hospital, an international preparatory school, a 100-acre Central Park, a 1.1 million square foot premium retail mall and a championship 18-hole golf course, the Jack Nicklaus Golf Club Korea. Songdo IBD will be 40 percent green space, and is being designed and constructed to ensure long-term environmental sustainability, thus minimizing the city's carbon footprint. Songdo IBD was recently named a "green urbanism" pilot project by the U.S. Green Building Council.

This new metropolis will be connected to the Incheon International Airport, one of the world’s busiest, by a 7.4 mile highway bridge, and linked by subway to Seoul and its surrounding suburbs. Day travel is easy to China and Japan’s major business centers. More than one third of the world’s population lives within a three and a half hour flying radius. Additional information may be found at www.songdo.com.

CONTACTS

Pamela So Weber Shandwick, Hong Kong +852 2533 9916 pso@webershandwick.com

Phillip Anderson New Communications, Korea +82 6323 5050 phillip.anderson@newscom.co.kr

For ease of use, references in this press release to “Taubman Centers,” “Taubman Asia” or “Taubman” mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the ongoing U.S. recession, the existing global credit and financial crisis and other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Taubman Asia Announces Megabox as the Third Anchor Signed for Songdo IBD Shopping Center

Hong Kong, January 7, 2009 – Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE: TCO), today officially announced that cinema multiplex leader Megabox, has signed as the cinema operator and third anchor tenant in Songdo Shopping Center situated in the heart of the master-planned Songdo International Business District (Songdo IBD), Incheon, Korea. Songdo IBD is being developed by New York headquartered Gale International and Korea’s Posco E&C.

“This is the third major anchor signing to be completed for Songdo Shopping Center, following the announcement of Lotte Department Store back in April, and Tesco Homeplus in September,” said Morgan Parker, president of Taubman Asia, the manager and developer of Songdo Shopping Center.

“We are thrilled to secure Megabox as an anchor tenant. Megabox is widely recognized in Korea as the premier provider of big screen entertainment,” Parker said.

The Megabox multiplex at the Songdo Shopping Center will feature nine theaters with seating for approximately 1,900 patrons. One of the nine theaters will be “M Class”, Megabox’s up-market, luxury experience, featuring a large format screen and superior sound system.

“The Megabox deal is a significant milestone for this project, as it is the first lifestyle/entertainment provider for the shopping center in Songdo IBD,” added Parker. “This is in keeping with our vision of developing a leisure lifestyle and entertainment destination, in addition to a retail complex of international standards. The Megabox complex will perfectly augment the international luxury lifestyle shopping and amenities planned for the shopping center.”

The two-level enclosed international style shopping center, designed by globally renowned architect Daniel Libeskind, with interior design by Benoy, will be the first of its kind in Korea. It is being developed as an integrated space and includes a Lotte Department Store, a Tesco Homeplus hypermarket, a Megabox multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.

About Taubman Asia Taubman Asia is a subsidiary of Taubman Centers – a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman Centers is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman’s 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, www.taubman.com.

About Megabox Loews Cineplex Entertainment and Mediaplex, an Orion Group Company, set up Megabox Cineplex, a joint venture company on November 16, 1999 and opened the biggest multiplex cinema in Asia at Coex Mall, Seoul, on May 13, 2000. KMIC Inc., a Macquarie Consortium, acquired Megabox in August 2007 and began seeking expansion into new areas.

Megabox leads in cinema marketing through innovative new systems such as membership services, different ticket prices for different show times, and has proactively met new trends to service customer demands (e.g. one-day-earlier than premiere, ticket reservation with seat choice, et al). In 2006, Megabox opened its first M Class, offering patrons the chance to view bigger screens, listen to better sound, and the variable seating options.

About Gale International Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea.

About Songdo International Business District Songdo International Business District, the "Gateway to Northeast Asia," is being developed by New York headquartered Gale International and Posco E&C. Songdo International Business District (IBD) officially opens August 2009, as the first “new” city in the world designed and planned as an international business district. The U.S. $35 billion, 100 million square foot master-planned metropolis will include forty-five million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. When fully completed in 2015, Songdo IBD will be home to 65,000 people and 300,000 will work there. Songdo IBD is located within the Incheon Free Economic Zone.

Songdo IBD will offer every conceivable amenity including a world-class hospital, an international preparatory school, a 100-acre Central Park, a 1.1 million square foot premium retail mall and a championship 18-hole golf course, the Jack Nicklaus Golf Club Korea. Songdo IBD will be 40 percent green space, and is being designed and constructed to ensure long-term environmental sustainability, thus minimizing the city's carbon footprint. Songdo IBD was named a "green urbanism" pilot project by the U.S. Green Building Council.

This new metropolis will be connected to the Incheon International Airport, one of the world’s busiest, by a 7.4 mile highway bridge, and linked by subway to Seoul and its surrounding suburbs. Day travel is easy to China and Japan’s major business centers. More than one third of the world’s population lives within a three and a half hour flying radius. Additional information can be found at www.songdo.com

CONTACTS:

Karen Mac Donald Taubman, Director, Communications 248 258 7469 kmacdonald@taubman.com

Barbara Baker Taubman, Vice President, Investor Relations 248 258 7367 bbaker@taubman.com

Pamela So Weber Shandwick, Hong Kong +852 2533 9916 pso@webershandwick.com

Phillip Anderson News Communications, Korea +82 2 6323 5050 phillip.anderson@newscom.co.kr

JungAh Lee, Megabox, +82 2 3218 9391, baby33@megabox.co.kr

For ease of use, references in this press release to “Taubman Centers,” “Taubman Asia” or “Taubman” mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Taubman Asia Announces Samsung Tesco Homeplus as Second Anchor For Korea’s Songdo IBD Shopping Center

BLOOMFIELD HILLS, Mich., Sept. 30, 2008 – Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE: TCO), today officially announced that hypermarket giant, Tesco Homeplus, has signed to be the second anchor at the shopping center at Songdo International Business District (Songdo IBD), a 1,500-acre city being constructed in Incheon, Korea. Songdo IBD is being developed by New York headquartered Gale International and Korea’s POSCO E&C in a 70/30 joint venture.

“This is the second anchor deal to be completed for Songdo Shopping Center, following the Lotte Department Store announcement in April. We are very excited to have secured another leading retailer for the project, further adding to the momentum as we move closer to creating a world class retail and lifestyle destination that will be an international landmark for Korea,” said Morgan Parker, president of Taubman Asia, the manager and developer of Songdo Shopping Center. “The two story hypermarket, which is to be built on block A1, will cover approximately 21,276sqm (230,000 sq. ft.) of gross leasable space and will add another crucial dimension to what will be a truly remarkable international shopping center,” he added.

The two-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space that includes Lotte Department Store. The shopping hub of Songdo IBD will also feature Tesco Homeplus hypermarket, a multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.

About Taubman Asia

Taubman Asia is a subsidiary of Taubman Centers – a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman Centers is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman’s 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, visit www.taubman.com.

About Samsung Tesco Homeplus

Tesco Homeplus launched in Korea with two stores in 1999. As of September 2008, the company has 75 stores throughout the country and has gone on to become one of Korea’s most respected companies with sales of nearly US$ 6.2 billion in 2007.

Homeplus leads the Korean retail industry with its innovative ‘Value Store’ concept, originating from the company's objective to offer the best value to customers. Homeplus provides customers with good quality merchandise at lower prices in the best shopping environment, unlike warehouse style retail outlets. As a result, Homeplus has achieved the highest sales growth among retailers in Korea, as well as the highest sales figures per square meter.

About Gale International

Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea.

About Songdo International Business District

Songdo International Business District, the "Gateway to Northeast Asia," is being developed by New York headquartered Gale International in a 70/30 joint venture with POSCO E&C. Songdo International Business District (IBD) officially opens August 2009, as the first “new” city in the world designed and planned as an international business district. The U.S. $35 billion, 100 million square foot master-planned metropolis will include forty-five million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. When fully completed in 2015, Songdo IBD will be home to 65,000 people and 300,000 will work there. Songdo IBD is located within the Incheon Free Economic Zone. Songdo IBD will offer every conceivable amenity including a world-class hospital, an international preparatory school, a 100-acre Central Park, a 1.1 million square foot premium retail mall and a championship 18-hole golf course, the Jack Nicklaus Golf Club Korea. Songdo IBD will be 40 percent green space, and is being designed and constructed to ensure long-term environmental sustainability, thus minimizing the city's carbon footprint. Songdo IBD was recently named a "green urbanism" pilot project by the U.S. Green Building Council.

This new metropolis will be connected to the Incheon International Airport, one of the world’s busiest, by a 7.4 mile highway bridge, and linked by subway to Seoul and its surrounding suburbs. Day travel is easy to China and Japan’s major business centers. More than one third of the world’s population lives within a three and a half hour flying radius. Additional information can be found at www.songdo.com.

CONTACT:

Karen Mac Donald Taubman, Director, Communications 248 258 7469 kmacdonald@taubman.com

Barbara Baker Taubman, Vice President, Investor Relations 248 258 7367 bbaker@taubman.com

Pamela So Weber Shandwick, Hong Kong +852 2533 9916 pso@webershandwick.com

Phillip Anderson News Communications, Korea +82 2 6323 5050 phillip.anderson@newscom.co.kr

Hyewon Chang Gale International - Domestic/ROK +82 2 6260 3353 hwchang@galeintlkorea.com

Mary Lou DiNardo Gale International U.S. and International 212 909 0340 tkpr1@aol.com

For ease of use, references in this press release to “Taubman Centers,” “Taubman Asia” or “Taubman” mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Taubman Asia Unveils Luxury Flagship Stores at The Mall at Studio City, Macao

BLOOMFIELD HILLS, Mich., August 27, 2008 - Taubman Asia, a subsidiary of U.S. mall REIT Taubman Centers, Inc. (NYSE: TCO), today revealed a glimpse of what is destined to become Asia’s most luxurious shopping center, featuring an unparalleled line-up of flagship stores including A. Lange & Sohne, Alfred Dunhill, Berluti, Bulgari, Bottega Veneta, Burberry, Cartier, Chopard, Christian Dior, Dolce & Gabbana, Ermenegildo Zegna, Fendi, Franck Muller, Gucci, Miu Miu, Montblanc, Omega, Piaget, Prada, Roger Vivier, Tod’s, Van Cleef & Arpels and Versace. Additional major fashion brands have committed and are expected to be announced in the coming months.

“The Mall at Studio City will be the ultimate luxury shopping center in Asia. In one venue we have brought together all of the luxury brands in flagship formats only seen in the fashion high streets of Hong Kong, Paris, New York, Milan and Tokyo” said Morgan Parker, president, Taubman Asia. “With flagship stores, luxury retailers will have a platform where they can fully express their brand value and full range of products,” he continued.

The Mall at Studio City is the shopping center component of the US$2.5 billion Macao Studio City, which combines theatre, retail, gaming, entertainment and world-class hotels situated in a prime location on Cotai, Macao. Upon its completion in 2011, The Mall at Studio City will house a total of 140 stores within its approximately 600,000 square feet of gross leasable space.

About Taubman Asia Taubman Asia is a subsidiary of Taubman Centers – a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman Centers is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman’s 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, visit www.taubman.com.

CONTACT:
Karen Mac Donald Taubman, Director, Communications 248 258 7469 kmacdonald@taubman.com

Barbara Baker Taubman, Vice President, Investor Relations 248 258 7367 bbaker@taubman.com

Pamela So Weber Shandwick, Hong Kong +852 2533 9916 pso@webershandwick.com

For ease of use, references in this press release to “Taubman Centers,” “Taubman Asia” or “Taubman” mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Taubman Asia Announces Lotte Department Store to Anchor Songdo IBD Shopping Center

Hong Kong, April 28, 2008 – Taubman Asia Management Limited, a subsidiary of U.S. mall REIT, Taubman Centers, Inc., today officially announced that Korean retail giant, Lotte Department Store, will anchor the shopping center at Songdo International Business District (Songdo IBD), Incheon, Korea. The twelve-level flagship store, which includes two levels of parking, will be approximately 48,500sqm (521,800 sq ft).

“This represents the first anchor deal to be completed for Songdo Shopping Center, and we are proud to have secured one of Korea’s best department store operators, setting the tone for the finest shopping experience in the region,” said Morgan Parker, president of Taubman Asia, the manager and developer of Songdo Shopping Center. “The 105,000 square meter (1.1 million square foot) shopping center will combine the essential ingredients of convenience and superior store merchandising, making this a truly world-class destination,” he added.

The double-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space and will include a department store, a hypermarket, a multiplex cinema, a food court, an ice rink, and approximately 150 specialty stores.

About Taubman Asia Taubman Asia is a subsidiary of Taubman Centers, Inc. – a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman has led the US shopping center industry for over 50 years. Today, Taubman Centers, Inc. (NYSE: TCO), a real estate investment trust, owns and/or manages the most consistent and productive regional mall portfolio in the US including 24 regional and super regional shopping centers in 11 US states. Taubman Asia is headquartered in Hong Kong. Additional information about Taubman Centers, Inc. can be obtained from the company’s website at www.taubman.com

About Lotte Department Store Lotte Department Store is the retail subsidiary of the Lotte Group, founded in 1979 and headquartered in Sogong-dong Jung-gu, Seoul, Korea. Formerly known as Lotte Shopping Co., the Company operates its business mainly through two segments: department stores and hypermarkets. Lotte department stores and Lotte hypermarkets offer fashion clothes, accessories, F&B, electric products and luxury goods. In addition, the Company operates supermarkets, cinemas and shopping malls, as well as global F&B businesses and directly imports international fashion brands. The Company has 25 department stores, 56 hypermarkets, 82 supermarkets and 41 cinemas in Korea as of April 28, 2008. Since 1982 the business has been managed by Takashimaya of Japan.

About Songdo International Business District Sondgo International Business District, the "Gateway to Northeast Asia," is being developed by Gale International in a 70/30 joint venture with POSCO E&C. Songdo International Business District (IBD) will be the first “new” city in the world designed and planned as an international business district. The US$30 billion, 100 million square foot master-planned metropolis will include fifty million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. When fully completed in 2014, Songdo IBD will be home to 65,000 people and 300,000 will work there. Songdo IBD is located within the Incheon Free Economic Zone.

Songdo IBD will offer every conceivable amenity including a world-class hospital, an international preparatory school, museums, a 100-acre Central Park, a 1.1 million square foot premium retail mall and the Jack Nicklaus Golf Club Korea. This new metropolis will be connected to the Incheon International Airport, one of the world’s busiest, by a 7.4 mile highway bridge, and linked by subway to Seoul. Day travel is easy to China and Japan’s major business centers. More than one third of the world’s population lives within a three and a half hour flying radius. Additional information can be found at www.songdo.com.

About Gale International Gale International is a premier international real estate investment and development company with headquarters in New York and offices in Boston; Irvine, California; Seoul and Songdo, South Korea.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the filings of Taubman Centers, Inc. with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Taubman Invests in The Mall at Studio City

Bloomfield Hills, Mich., February 1, 2008 - - Taubman Centers, Inc. announced today Taubman Asia is acquiring a 25 percent interest in The Mall at Studio City, the retail component of Macao Studio City, a major mixed use project currently under construction on the Cotai Strip in Macao, China.  In addition, Taubman Asia entered into long-term agreements to perform development, management and leasing services for the shopping center.

Taubman will fund an initial cash payment of US$54 million.  Taubman’s total investment in the project (including the initial payment, allocation of construction debt and additional payments anticipated in years two and five after opening) is expected to be approximately US$200 million, with an anticipated after tax return of about 10 percent, net of local Macao taxes.  The company’s investment is in a joint venture with Cyber One Agents Limited, the developer of Macao Studio City, and will be accounted for under the equity method.

Taubman’s payment will be placed into escrow subject to the following conditions:  eSun shareholder approval (the vote of which is expected in approximately 90 days) and the execution and delivery of loan documents in a sufficient amount, (along with equity) to build the project, expected to occur within the first half of 2008. 

Since its groundbreaking on January 10, 2007, Macao Studio City has welcomed other brands including the Ritz-Carlton, W Hotels, Marriott, Asian style icon, David Tang and Playboy Enterprises, to the more than US$2 billion project, offering international visitors, business travelers and corporate customers a unique leisure and entertainment experience.

The Mall at Studio City will include approximately 140 stores, including the ultimate collection of world-class luxury brands, many in flagship formats. The beautifully designed two-level shopping center with more than 600,000 square feet of leasable area will be accessible from all components of the integrated resort. Macao Studio City is strategically located Where Cotai Begins™, next to the Lotus Bridge immigration checkpoint, linking the complex directly to Zhuhai’s Hengqin Island.

“We are thrilled with the support and commitment Taubman Asia is receiving from the global retail community for The Mall at Studio City.  We are confident that we will deliver the best shopping experience in the region when we open,” said Morgan Parker, President of Taubman Asia.

“Macao is fast developing into one of the most exciting travel destinations in the world with a diverse tourist offering,” said Peter Lam, co-chairman of Macao Studio City.  “And shopping is one of the favorite activities of Asian travelers. Taubman’s expertise, combined with Macao Studio City’s in-depth knowledge of Asian customers, will undoubtedly make The Mall at Studio City the top choice for the millions of travelers who visit Macao.” 

“With The Mall at Studio City, we are bringing Taubman's unparalleled 58-year retail development, leasing and management expertise to one of the world’s most exciting marketplaces. Retail sales in Macao continue to register strong growth, with the most recent reports available recording 37% growth in the third quarter of 2007 when compared with the same period in 2006. Outstanding categories include time pieces and jewelry which enjoyed sales growth of more than 50% and adult apparel which grew at a rate of over 40% year on year,” said Morgan Parker. “We are creating a world-class shopping venue that will leverage this growth, delight customers, generate strong sales for retailers and provide excellent returns to our shareholders.”

Live and taped entertainment production activities will be brought to the floor level of the shopping center, creating the ambience of “feel like a star” among visitors in The Mall at Studio City, as they watch celebrities being filmed and get a chance to participate in some of the productions as interactive audience members.  

“This entertainment-infused retail environment is unique to Macao Studio City,” added David Friedman, co-chairman and co-chief executive officer of Macao Studio City. “Whether
it’s shopping, world-class hospitality offered by our four hotels, or glamorous nightlife options, including the Playboy Mansion Macao, fine-dining, cool lounges and live entertainment, all the offerings at Macao Studio City are anchored together to deliver the ultimate experience to our customers.”  

“Taubman’s investment in The Mall at Studio City reinforces our vision to be the place in Macao where super brands meet. The commitment of Taubman and our other partners will ensure that Macao Studio City will be the must-see, must-stay and must-return destination for visitors of Macao,” said Ambrose Cheung, co-chief executive officer of Macao Studio City.

 

About Taubman Centers/Taubman Asia

Taubman Asia is a subsidiary of Taubman Centers, Inc. (NYSE: TCO), a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities. Taubman Asia is headquartered in Hong Kong.

 

Taubman has been a pioneer of the U.S. shopping center industry for over 50 years. Today, Taubman Centers owns and/or manages the most consistent and productive regional mall portfolio in the U.S. including 24 regional and super regional shopping centers in 11 U.S. states. Taubman Centers is headquartered in Bloomfield Hills, Mich. U.S.A. For more information, please visit www.taubman.com.

 

About Macao Studio City

Macao Studio City is being developed by Cyber One Agents Limited, a joint venture between New Cotai, LLC and East Asia Satellite Television Holdings, a subsidiary of Hong Kong-based eSun Holdings (“eSun”; stock code: 571). Singapore’s CapitaLand owns 33.3 per cent of East Asia Satellite Television Holdings while eSun Holdings owns the remaining 66.7 per cent.

 

eSun Holdings is one of Asia’s leading media and entertainment companies and an associate company of Lai Sun Development (“LSD”; stock code: 488), a leading hotel and property developer. Both companies are part of Hong Kong’s Lai Sun Group.

 

New Cotai, LLC is a consortium of US-based investors, including the co-chairman and co-CEO of Macao Studio City, David Friedman. Mr. Friedman is a veteran resort and gaming developer who led Las Vegas Sands’ entry into Macao, and funds managed by Silver Point Capital, L.P., a private US-based investment firm, and Oaktree Capital Management, LLC, a global independent investment management firm.

 

CapitaLand is one of the largest listed real estate companies in Asia. Headquartered in Singapore, the multinational company's core businesses in real estate, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East. The company's real estate and hospitality portfolio spans more than 100 cities in over 20 countries. CapitaLand also leverages on its significant real estate asset base, financial skills and market knowledge to develop real estate financial products and services in Singapore and the region.

Contact Information

                        Barbara K. Baker                              Pamela So

                        Vice President, Investor Relations      Weber Shandwick, Hong Kong

                        +1 248 258-7367                                 +852 2533 9916

                        bbaker@taubman.com                             pso@webershanwick.com

 

                        Karen MacDonald                            Jacqueline Wu

                        Director, Communications                 Macao Studio City

                        +1 248 258-7469                                 +852 3760 2626

                        kmacdonald@taubman.com                     Fax: +852 3760 2673

                        www.taubman.com                                 Jacqueline.wu@macaostudiocity.com

 

Jane Ong

Burson-Marsteller

+852 2963 5672

Fax: +852 2856 1101

Jane.ong@bm.com

 

Taubman Asia Selected Macao Studio City Retail Partner

Executives Participate in Project Groundbreaking

Hong Kong, January 10, 2007 - - Taubman Asia announced that it has been selected as the preferred retail partner for Macao Studio City, Asia’s first leisure resort property combining theatre, television and film production facilities, retail, gaming, entertainment and world-class hotels located on prime land on the Cotai Strip of Macao. Today, Robert S. Taubman, Taubman Centers chairman, president and chief executive officer and Morgan B. Parker, president of Taubman Asia, participated in a ground breaking ceremony for the project.

Macao Studio City is being developed by Cyber One Agents Limited, a joint venture between Hong Kong-based eSun Holdings (through its subsidiary, East Asia Satellite Television Holdings) and New Cotai LLC.

eSun Holdings is one of Asia’s leading media and entertainment companies and an associate company of Lai Sun Development, a leading hotel and property developer. Both companies are part of Hong Kong’s Lai Sun Group. Singapore’s CapitaLand is a shareholder with eSun Holdings in East Asia Satellite Television Holdings owning 33.3 per cent of that venture.

New Cotai LLC is a consortium of US-based investors including David Friedman, a veteran resort and gaming developer who led Las Vegas Sands’ entry into Macao, and the private US-based investment firms, Silver Point Capital, L.P., and Oaktree Capital Management, LLC.

Taubman Asia has signed a term sheet to acquire a minority position in the retail component of Macao Studio City. In addition, Taubman will provide development, leasing and management services for the retail portion of the project. This is subject to definitive agreements to be completed in the first half of 2007.

“Macao is poised to become Asia’s number one tourist destination, with the region’s most recognizable hotels, casinos, convention centers and entertainment venues,” said Mr. Parker. “We are pleased to be working on a project of this magnitude with such esteemed partners.”

“We are pleased to involve Taubman Asia in this project,” said Mr. Peter Lam, co-chairman of Macao Studio City. “Taubman brings critical experience in the design, development and management of world-class retail destinations.”

Located on a peninsula that is a 45 minute ferry ride from Hong Kong, Macao is a Special Administration Region (SAR) of China with its own legislative government, similar to Hong Kong. This year, Macao is expected to overtake Las Vegas and become the world’s number one location for gaming revenues, which comprise 50 percent of Macao’s GDP. With 100 million people living within a 3 hour drive/ferry of Macao and 1 billion people living within a 3 hour flight, Macao is poised to become Asia’s number one tourist destination. Non-gaming spending in Macao is expected to increase over time as Macao evolves following the Las Vegas supply-driven model, and the critical mass of integrated resort offerings under development encourages leisure and convention/exhibition travelers to lengthen their visits.

About Taubman Asia
Taubman Asia is a subsidiary of Taubman Centers, Inc. a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman has been a pioneer of the U.S. shopping center industry for 50 years. Today, Taubman Centers (NYSE: TCO) owns and/or manages the most consistent and productive regional mall portfolio in the U.S. including 23 regional and super regional shopping centers in 11 US states. Taubman Asia is headquartered in Hong Kong. Additional information about Taubman Centers can be obtained from the company's website, www.taubman.com.

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Contact Information

Karen MacDonald Director, Communications
Taubman Centers, Inc.
Tel: +1 248- 258-7469
kmacdonald@taubman.com

Barbara Baker Vice President, Investor Relations
Taubman Centers, Inc.
+1 248- 258-7367
bbaker@taubman.com

Taubman and Gordon Group Secure Luxury-Retail Designer Peter Marino for Harrah's-Keppel Singapore Integrated Resort Bid

February 15, 2006; Taubman Asia and Gordon Group today announced the appointment of celebrated luxury-retail designer Peter Marino to design the retail component of the Harrah's Entertainment and Keppel Land's Marina Bay Integrated Resort Bid in Singapore. Peter Marino is the world's leading designer of luxury-retail stores. His projects include the flagship stores for Louis Vuitton, Chanel, Christian Dior, Fendi and Giorgio Armani in Tokyo, New York, Paris and Hong Kong.

This unique first-time collaboration between Taubman/Gordon, global leaders in casino-related retail projects, and Peter Marino will create a retail concept enticing the world's premium retailers and patrons.

"We invited Peter Marino to join our team as his expertise in designing world-class, cutting-edge luxury retail stores is unparalleled. We know Marino's designs will capture the attention of retailers worldwide, secure their interest in being part of the integrated resort and deliver to Singapore the ultimate retail experience," said Morgan Parker, President, Taubman Asia.

"We are delighted to work with Taubman/Gordon and their partners on this exciting bid that will further boost Singapore as a leading shopping destination. Having designed independent flagship stores for luxury retailers throughout the world, the Singapore Integrated Resort presents us with an unprecedented opportunity to create multiple flagship stores housing the world's top luxury fashion brands within one unified shopping and entertainment environment," said Peter Marino.

"Peter Marino adds a completely new level of expertise to our Marina Bay project team," said Richard Mirman, senior vice president for development, Harrah's Entertainment. "He brings a brand cache to the retail sector that is unequalled. Peter's vision will translate into an unsurpassed retail experience for the Marina Bay project."

Harrah's Entertainment and Keppel Land have entered into a Memorandum of Understanding to form a joint venture to bid for the Singapore Integrated Resort, which includes plans for Taubman/Gordon to develop a large-scale retail destination, designed by Peter Marino, comprising a collection of flagship luxury fashion stores and restaurants. The retail development is expected to act as a spine to the entire integrated resort including the casino, hotel, convention centre and museum. Harrah's and Keppel expect to submit their bid by March 29, and completion of the Singapore Integrated Resort is dependent on receipt of all necessary regulatory approvals, including the awarding of the project to the planned joint venture.

Taubman Centers, Inc. has 50 years experience in the retail industry and was recently selected as the retail advisor for MGM MIRAGE Project CityCenter - the largest private development in the United States - located on the Strip in Las Vegas.

Taubman Centers, Inc. and Gordon Group Holdings are currently working with Harrah's Entertainment on the $175 million project known as The Forum Shops at Caesars in Atlantic City, formerly The Pier at Caesars. The project is set to open in Atlantic City in late spring 2006, and will be home to more than 100 high-end retailers from Gucci and Louis Vuitton to Hugo Boss, Burberry and Tiffany & Co., and more than 10 restaurants.

About Taubman Asia

Taubman Asia is a global leader of the shopping centre industry. The company focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubmanbs strong retail planning, design and operational capabilities. Taubman has led the US shopping centre industry for 50 years. Today, Taubman manages the most consistent and productive regional mall portfolio in the US including 22 regional and super regional shopping centers in 11 US states. Taubman Asia is headquartered in Hong Kong. Additional information about Taubman Centers (NYSE:TCO) can be obtained from the company's website www.taubman.com

About Gordon Group Holdings, LLC

Headquartered in Greenwich, Connecticut, Gordon Group Holdings, LLC, is recognized as a leader in developing specialty retail and entertainment destinations in the country. Gordon Group's unique retail and entertainment projects include co-development of The Forum Shops at Caesars Palace in Las Vegas, The Forum Shops at Caesars in Atlantic City, Mohegan Sun Casino in Uncasville, Bridgemarket in New York City, San Francisco Center, and The Beverly Center in Los Angeles with Taubman Centers, Inc. Currently the firm is in pre-development of Lac Mirabel, a 330 acre mixed use project north of Montreal, Canada.

About Harrah's Entertainment, Inc.

Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment through its operating subsidiaries. Since its beginning in Reno, Nevada 68 years ago, Harrah's has grown through development of new properties, expansions and acquisitions. Harrah's Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

Peter Marino Architect Website: http://www.petermarinoarchitect.com/

Media Contacts:

Nea Ferrier / Pamela So Weber Shandwick in Hong Kong T: +852 2533 9985 / 9916 e: nferrier@webershandwick.com pso@webershandwick.com

Taubman Forms Taubman Asia; Morgan Parker to Lead Asian Initiative

BLOOMFIELD HILLS, Mich., April 11 /PRNewswire-FirstCall/ -- Taubman Centers (NYSE: TCO) today announced the formation of Taubman Asia which will be the platform for Taubman's future expansion into the Asia-Pacific region. Taubman Asia will be headquartered in Hong Kong and will seek projects that leverage Taubman Centers' strong retail planning, design and operational capabilities.

Morgan Parker Brings Leadership Skills and Experience to Taubman Asia.

Taubman Asia will be led by Morgan Parker, president, who brings a critical set of skills and experiences to the role. Formerly a vice president of Morgan Stanley, Mr. Parker was based in Tokyo where he oversaw Morgan Stanley Real Estate Fund's (MSREF) retail investment and management businesses in Asia. He also served as president of Promena Retail Properties, a wholly owned subsidiary of MSREF that specializes in retail asset and property management in Japan. Prior to joining Morgan Stanley, Mr. Parker had seven years experience with Lend Lease and Macquarie Bank in Asia. During this time he was responsible for a variety of real estate investment, development, management and advisory initiatives. Mr. Parker has led businesses and completed projects in China, Korea, Japan, Taiwan, Singapore, and Indonesia. He is a native of Australia and holds a law degree from Bond University, Australia.

"I am looking forward to creating value for Taubman's investors in Asia," said Mr. Parker. "These are dynamic growing economies where there is significant opportunity for profitable retail real estate investment. We are well-positioned to take advantage of this tremendous economic and consumer growth with world-class retail capabilities and the prospect of collaborating with experienced and innovative partners."

Taubman Asia, along with MSREF, is currently evaluating opportunities in the region, including the previously announced New Songdo City project in Incheon, South Korea.

"With the formation of Taubman Asia, we have created a platform to augment our domestic development opportunities to provide incremental growth," said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. "We are fortunate to have a dynamic and experienced Pan-Asian real estate professional like Morgan Parker to head this organization. We believe that Taubman Asia provides a platform for growth that will extend our expertise, while maintaining our successful U.S. business activities."

Taubman Centers, a real estate investment trust, owns and/or manages 22 regional and super regional shopping centers in 10 states. In addition, two centers are under construction. Northlake Mall (Charlotte, N.C.) is scheduled to open September 15, 2005 and The Pier at Caesars (Atlantic City, N.J.) is scheduled to open in early 2006. The company is headquartered in Bloomfield Hills, Mich. Additional information about Taubman Centers can be obtained from the company's website at http://www.taubman.com .

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 as amended. These statements reflect management's current views with respect to future events and financial performance. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to changes in general economic and real estate conditions, changes in the interest rate environment and availability of financing, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

SOURCE Taubman Centers, Inc.

Released: April 11, 2005

Contact Information

Karen MacDonald Director, Communications
Taubman Centers, Inc.
Tel: (248) 258-7469
Fax:(248) 258-7697
kmacdonald@taubman.com

Barbara Baker Vice President, Investor Relations
Taubman Centers, Inc.
(248) 258-7367
bbaker@taubman.com

Taubman Centers Announces Korean Development Discussions With Morgan Stanley and Gale International

Taubman Centers Announces Korean Development Discussions With Morgan Stanley and Gale International

Representatives to Attend New Songdo City Groundbreaking Nov. 11

BLOOMFIELD HILLS, Mich., Nov 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- Taubman Centers (NYSE: TCO) today announced that it has entered into discussions and signed a letter of interest with Morgan Stanley Real Estate Funds and Gale International. This outlines the process to form a company to exclusively develop the retail components of New Songdo City, Incheon, South Korea.

Upon final agreement, the new company would be granted an exclusive right to invest in and act as the managing general partner for a retail joint venture entity to be formed in 2005. If no final agreement is reached, the letter of interest will terminate automatically.

"We are pleased to be announcing the involvement of such well-recognized firms as Taubman Centers and Morgan Stanley in New Songdo City," said John B. Hynes, Gale International president and chief executive officer. "Taubman is the leading developer of high quality retail environments in the U.S. and Morgan Stanley has a proven record of investing in successful real estate projects around the world."

"We are delighted to be invited to participate in this exciting project," said Robert S. Taubman, Taubman Centers chairman, president and chief executive officer. "We hope to be in the position to move forward with the next steps over the next few months."

"We are excited to be part of New Songdo City and by the opportunity to jointly invest in the retail components of this project with two great organizations that are both long standing clients and partners of Morgan Stanley," said KS Sonny Kalsi, managing director and head of Morgan Stanley Real Estate in Asia.

New Songdo City is one of the largest, mixed-use development projects ever undertaken and is being developed by Gale International and POSCO E&C, jointly known as NSC Development Company. New Songdo City, the first ever U.S./Korea real estate venture, has been designated a Free Economic Zone (FEZ) which provides significant tax incentives for corporations and residents. Its website is http://www.newsongdocity.com .

Gale International and POSCO E&C's plan envisions New Songdo City to be built on 1,500 acres of reclaimed land along Incheon's waterfront at a cost of $20 billion. The city is expected to include fifty million square feet of office space, thirty million square feet of residential space, ten million square feet of retail, five million square feet of hotel space and ten million square feet of public space. Harvard University affiliate, Harvard Medical International, has been engaged as a development partner for medical facilities. The schools are being planned in conjunction with the Harvard Advisory Group. A consortium of six leading IT companies: Microsoft Corp, Hewlett-Packard, Sun Microsystems, YoungWoo & Associates, LG CNS and KT Corp. are providing technical support to the city. Plans also include a wide range of cultural and recreational amenities to be available, including a Jack Nicklaus golf course.

Gale International is an arm of The Gale Company, one of the world's largest privately held real estate companies. The Gale Company, headquartered in Florham Park, New Jersey, has offices in New York, Boston, Los Angeles, London and South Korea. Its services include asset management, investment, leasing, construction and property and facility management.

Gale International is the master developer of New Songdo City, the first ever U.S./Korea real estate venture. New Songdo City, the "Gateway to Northeast Asia," has been designated a Free Economic Zone (FEZ) which provides significant tax incentives for corporations and residents.

Morgan Stanley is a global financial services firm and a market leader in securities, asset management and credit services. With more than 600 offices in 27 countries, Morgan Stanley connects people, ideas and capital to help clients achieve their financial aspirations. The Morgan Stanley Real Estate Funds are Morgan Stanley sponsored equity funds within the firm's Real Estate Investing Group. MSREF pursues real estate investments worldwide. Since 1991, Morgan Stanley has been one of the most active real estate investors in the world acquiring approximately US$35 billion of assets globally.

Taubman Centers, Inc., a real estate investment trust, owns, develops, acquires and operates regional shopping centers across the U.S. Taubman Centers currently owns and/or manages 22 regional and super regional shopping centers in 10 states. In addition, Northlake Mall (Charlotte, N.C.) is under construction and will open September 15, 2005. Taubman Centers' website is http://www.taubman.com .

This press release contains forward-looking statements within the meaning of the Securities Act of 1933 as amended. These statements reflect management's current views with respect to future events and financial performance, and include descriptions of current plans of Gale International with respect to New Songdo City. Actual results may differ materially from those expected because of various risks and uncertainties, including but not limited to changes in general economic and real estate conditions internationally, political risk, availability of financing, adverse changes in the retail industry, and inability to reach a definitive agreement. Other risks and uncertainties are discussed in the Company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

Released: April 11, 2005

Contact Information

Karen MacDonald
Director, Communications Taubman Centers, Inc.
Tel: (248) 258-7469
Fax:(248) 258-7697
kmacdonald@taubman.com

Barbara Baker
Vice President, Investor Relations Taubman Centers, Inc.
(248) 258-7367
bbaker@taubman.com

Morgan Parker of Morgan Stanley 81 3 5424-6093
morgan.parker@morganstanley.com

Mary Lou DiNardo of Gale Media Relations
1-212-572-0767
tkpr1@aol.com