The Great Escape Theatres Opens New 14-Screen Theater at Feldman Mall Properties’ Harrisburg Mall

HARRISBURG, Pa., Nov. 19 /PRNewswire-FirstCall/ — Feldman Mall Properties, Inc. (NYSE: FMP), a real estate investment trust (REIT) exclusively focused on the renovation and repositioning of enclosed regional shopping malls, announces the grand opening of the new Great Escape Theatre at the Harrisburg Mall in Harrisburg, PA.

“We’re very excited to have the new Great Escape Theatre in Swatara Township,” said Paul Cornell, Business Administrator for Swatara Township. “The theatre is a showplace, a palace — from the marble floors to the spectacular rainbow lighting — but what’s most impressive is the picture clarity and sound. They’re just amazing. I been an avid movie-goer my entire life, and I’ve never experienced anything like it.”

Opened on November 9, 2007 by Alliance Entertainment, LLC, the new Harrisburg Great Escape 14 is one of Pennsylvania’s finest movie theatres ever built, offering 14 wall-to-wall screens and over 50,000 square feet of modern, movie-going amenities, including luxurious all-stadium seating with high-back rocking chairs featuring retractable armrests, digital picture presentation capability in all auditoriums, Dolby Digital Surround-EX(R) stereo capability, 3-D digital picture capability, a spacious lobby, the “Critics Choice” frequent movie-goers rewards program, ample parking, a lobby kiosk, internet and advance tickets.

Great Escape’s newest location is on the second level in the Harrisburg Mall at the intersection of Paxton Street and I-83. The theatre is part of the Harrisburg Mall’s expansion that includes the recently opened Bass Pro Shop and a multi-million dollar streetscape with Panera Bread, Barnes & Noble, Starbucks, a new 16,000 square foot international entertainment and dining tenant under construction.

The theater complex is the focal point of a second round of renovations at the newly expanded 1,000,000-square-foot mall. The Great Escape Theatres can also be entered along the Route 441 side of the mall, between the Hecht’s and Boscov’s anchor stores.

“This theater complex is the epitome of what we aim for at all of our mall redevelopments. The Great Escape Theatres is a very exciting addition to our continued redevelopment plans for Harrisburg Mall,” said Larry Feldman, Chairman of Feldman Mall Properties. The Company has invested upwards of $50 million in mall improvements over the past two years. “When we announced the grand re-opening of Harrisburg Mall with Bass Pro Shops and Boscov’s in 2004, we made it very clear that in order to elevate the mall to Class A status we would need to provide the Harrisburg public with additional elements of excitement. The Great Escape Theatres is guaranteed to add more than just excitement. This theater brings a level of luxury that Harrisburg theater patrons have been craving.”

Anne Ragains, President and CEO for Alliance Management, added, “At The Great Escape, we are dedicated to maintaining and exceeding the standards in state-of-the-art theaters and this is immediately evident at the Harrisburg Mall cinema.”

The Great Escape multiplex is part of an ongoing $30 million-plus addition to the Harrisburg Mall, located in the rapidly growing Swatara Township. The Mall boasts three anchor tenants including Macy’s, Boscov’s and Bass Pro Shops. Other tenants include Barnes & Noble and Panera Bread (under construction), Victoria’s Secret, New York & Co., Aeropostale, American Eagle and PacSun.

About Feldman Mall Properties

Feldman Mall Properties, Inc. acquires, renovates and repositions enclosed regional shopping malls. Feldman Mall Properties Inc.’s investment strategy is to opportunistically acquire underperforming malls and transform them into physically attractive and profitable Class A malls through comprehensive renovation and re-tenanting efforts aimed at increasing shopper traffic and tenant sales. For more information on Feldman Mall Properties Inc., visit the Company’s website at http://www.feldmanmall.com.

The Company’s portfolio, including non-owned anchor tenants, consists of seven regional malls aggregating approximately 7.0 million square feet of which the Company owns approximately 4.1 million square feet.

To receive the Company’s latest news release and other corporate documents, please contact the Company at (516) 684-1239. All releases and supplemental data can also be downloaded directly from the Feldman Mall Properties website at: http://www.feldmanmall.com.

About Alliance Entertainment, LLC

Alliance Entertainment, LLC, headquartered in New Albany, IN, was founded in 1997 and currently operates 21 locations with 237 Screens.

Forward-Looking Information

This press release contains forward-looking statements that involve risks and uncertainties regarding various matters, including, without limitation, the success of our business strategy, including our acquisition, renovation and repositioning plans; our ability to close pending acquisitions and the timing of those acquisitions; our ability to obtain required financing; our understanding of our competition; market trends; our ability to implement our repositioning plans on time and within our budgets; projected capital and renovation expenditures; demand for shop space and the success of our lease-up plans; availability and creditworthiness of current and prospective tenants; and lease rates and terms. The forward-looking statements are based on our assumptions and current expectations of future performance. These assumptions and expectations may be inaccurate or may change as a result of many possible events or factors, not all of which are known to us. If there is any inaccuracy or change, actual results may vary materially from our forward-looking statements.

SOURCE Feldman Mall Properties, Inc.

© 2007 PR Newswire. All Rights Reserved.

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