LAS VEGAS, May 18 /PRNewswire-FirstCall/ -- Taubman Centers, Inc. (NYSE: TCO) today announced it has received signed letters of intent from Nordstrom and Saks Fifth Avenue to anchor the planned Plaza Internacional shopping center in San Juan, Puerto Rico. This will be both fashion retailers' first entry on the island. (Photo: http://www.newscom.com/cgi-bin/prnh/20090518/DE18634 ) Taubman and New Century Development, Inc. of San Juan are partnering on the retail portion of the project, which is anticipated to include a hotel, casino and approximately 650,000 square feet of mall shops and restaurants, including the two department stores. "We are pleased to announce Nordstrom and Saks Fifth Avenue's intent to anchor Plaza Internacional," said Steve Kieras, Taubman Senior Vice President Development. "We believe their presence will solidify this project as the Caribbean's preferred destination for high-end retail." "We've had the pleasure of serving residents of Puerto Rico at our mainland stores over the years," said Erik Nordstrom, president of stores for Nordstrom. "We're thrilled to open our first Nordstrom store in San Juan and look forward to being a part of this community." Steve Sadove, Chairman and Chief Executive Officer of Saks Incorporated, commented, "We are very excited about bringing Saks Fifth Avenue to Puerto Rico, which is a great tourist and shopping destination. We look forward to delivering our unique, world-class selection of luxury brands and experiences to the residents of and visitors to the island." Plaza Internacional, located just minutes from the airport, will serve a trade area encompassing nearly two thirds of Puerto Rico's four million people. 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. The company's Taubman Asia subsidiary is working on retail projects in Macao, China and Incheon, South Korea. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, visit http://www.taubman.com/. Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 176 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 111 full-line stores, 61 Nordstrom Racks, two Jeffrey boutiques and two clearance stores. Nordstrom also serves customers through its online presence at http://www.nordstrom.com/ and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN. Founded in 1924 with the opening of its Fifth Avenue, New York City flagship store - which continues today as the Company's landmark store - Saks Fifth Avenue is one of the world's preeminent specialty retailers. Saks is renowned for its superlative American and international designer apparel collections; its expertly edited assortment of handbags, shoes, jewelry, cosmetics and gifts; and the first-rate fashion expertise and exemplary client service of its associates. Today, Saks Fifth Avenue operates 53 full-line stores in 25 states, 5 licensed stores in the Middle East and 1 licensed store in Mexico City, 52 Saks Fifth Avenue OFF 5TH stores, and saks.com, the company's online store. Saks Fifth Avenue's parent company, Saks Incorporated, is publicly traded on the NYSE under the symbol SKS. For ease of use, references in this press release to "Taubman Centers" 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. http://www.newscom.com/cgi-bin/prnh/20090518/DE18634 http://photoarchive.ap.org/ DATASOURCE: Taubman Centers, Inc. CONTACT: Karen Mac Donald, Director, Communications, +1-248-258-7469, , or Barbara Baker, Vice President, Investor Relations, +1-248-258-7367, , both of Taubman Centers, Inc.; or Frank Trogolo, Vice President of New Century Development, Inc., +1-787-294-2055, ; or Brooke White, Corporate Communications of Nordstrom, +1-206-373-3030, ; or Julia Bentley, Senior Vice President, Investor Relations-Communications of Saks Fifth Avenue, +1-865-981-6243, Web Site: http://www.taubman.com/

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