CBL Closes Long-Term Fixed-Rate Loan Secured by Fremaux Town Center

CBL & Associates Properties, Inc. (NYSE: CBL) today announced that it closed on a non-recourse $73.0 million loan secured by Fremaux Town Center in Slidell, LA. The 10-year loan bears a fixed interest rate of 3.70%. Wells Fargo served as the lender. Proceeds from the loan were used to retire two existing construction loans with an aggregate balance of $73.0 million.

“This financing demonstrates our continued strong access to capital,” said Farzana K. Mitchell, Chief Financial Officer. “Replacing the floating rate construction loans with this attractively priced long-term fixed-rate loan further enhances the strength of our balance sheet. We are pleased to have completed two major financing transactions with institutional lenders totaling $185 million within the past week.”

CBL owns the 633,000-square-foot open-air center in a 65/35 joint venture with Stirling Properties, LLC based in Covington, LA. All amounts above are reflected at 100%.

About CBL & Associates Properties, Inc.

Headquartered in Chattanooga, TN, CBL is one of the largest and most active owners and developers of malls and shopping centers in the United States. CBL owns, holds interests in or manages 147 properties, including 91 regional malls/open-air centers. The properties are located in 31 states and total 84.3 million square feet including 8.6 million square feet of non-owned shopping centers managed for third parties. Additional information can be found at cblproperties.com.

Forward-Looking Statements

Information included herein contains "forward-looking statements" within the meaning of the federal securities laws. Such statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual events, financial and otherwise, may differ materially from the events and results discussed in the forward-looking statements. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including without limitation the Company's Annual Report on Form 10-K and the "Management's Discussion and Analysis of Financial Condition and Results of Operations" included therein, for a discussion of such risks and uncertainties.

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CBL & Associates Properties, Inc.Investor Contact:Katie Reinsmidt, 423-490-8301Senior Vice President - Investor Relations and Corporate [e-mail]