The Mills Corporation Declares Dividends for Common, Preferred Stock

The Mills Corporation (NYSE:MLS) announced that the
Board of Directors has declared a cash dividend for the second quarter
of $0.251 per common share. The dividend will be payable on August 1,
2006 to stockholders of record on July 21, 2006.
   The Board of Directors also has declared dividends on the
Company's preferred stock for the period beginning May 2, 2006 and
ending August 1, 2006, all payable on August 1, 2006 to stockholders
of record on July 21, 2006:

   --  The Mills Corporation 9% Series B Cumulative Redeemable
        Preferred Stock (NYSE:MLS_PrB) - $0.5625 per share;

   --  The Mills Corporation 9% Series C Cumulative Redeemable
        Preferred Stock (NYSE:MLS_PrC) - $0.5625 per share;

   --  The Mills Corporation 8.75% Series E Cumulative Redeemable
        Preferred Stock (NYSE:MLS_PrE) - $0.546875 per share;

   --  The Mills Corporation 6.75 % Series F Convertible Cumulative
        Redeemable Preferred Stock (NYSE:MLS_PrF) - $16.875 per share;
        and

   --  The Mills Corporation 7.875% Series G Cumulative Redeemable
        Preferred Stock (NYSE:MLS_PrG) - $49.22 per share, which is
        equivalent to $0.4922 per depositary share.

   The Mills Corporation, based in Arlington, Virginia, is a
developer, owner and manager of a global real estate portfolio
including regional shopping malls, retail and entertainment centers,
and international recreation, leisure and retail centers. The Mills
portfolio currently includes 42 properties in the U.S., Canada and
Europe, totaling approximately 51 million square feet of gross
leasable area. In addition, The Mills is currently developing,
re-developing or constructing various projects around the world. The
Mills is traded on the New York Stock Exchange under the ticker: MLS.
For more information, visit the company's website at www.themills.com.

   Statements in this press release that are not historical may be
deemed forward-looking statements within the meaning of the federal
securities laws. Although The Mills Corporation and The Mills Limited
Partnership believe the expectations reflected in any forward-looking
statements are based on reasonable assumptions, they can give no
assurance that their expectations will be attained and it is possible
that their actual results may differ materially from those indicated
by these forward-looking statements due to a variety of risks and
uncertainties. The words "will," "plan," "believe," "expect,"
"anticipate," "should," "target," "intend," and similar expressions
identify forward-looking statements. The Mills Corporation and The
Mills Limited Partnership undertake no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The reader is directed to The
Mills Corporation's and The Mills Limited Partnership's various
filings with the Securities and Exchange Commission, including
quarterly reports on Form 10-Q, reports on Form 8-K, report on Form 10
and annual report on Form 10-K for a discussion of such risks and
uncertainties.