CBL’s long-term growth strategy

Chattanooga, Tenn. — In an April 11 conference call, CBL & Associates Properties provided an in-depth review of its business strategy, including a number of initiatives designed to enhance shareholder value.

On the conference call, the Company outlined the following goals and objectives through a slide presentation:

Position the portfolio to produce sustained same-center net operating income (NOI) growth of 2-4%, about double the current range of 1%-2%;

Increase the percentage of Mall NOI generated from tier 1 and tier 2 assets from 78% for 2013 to more than 90% over the next several years through divestitures of lower productivity assets and investments in higher growth assets;

Proactively take advantage of opportunities to upgrade both mall shop and anchor retailers through value-added redevelopment and ongoing re-tenanting;

Maintain and enhance the strength and flexibility of the company’s balance sheet including growing the quality and size of the unencumbered asset pool and further improving key financial metrics.

A copy of the slide presentation and a transcript of the prepared remarks will be filed with the SEC and available online at cblproperties.com.

A replay of the conference call will be available through May 6, by dialing (800) 633-8284 or (402) 977-9140 and entering the confirmation number, 21708955.

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