Prime Outlets - Williamsburg Reveals Expanded Center:
115,000 SF, 25 New Stores

WILLIAMSBURG, Va., April 11, 2008 /PRNewswire via COMTEX/ -- Prime Retail, one of the largest developers of outlet centers in the country, will unveil a 115,000 square foot, $55 million expansion, to include 25 new top designer and brand- name stores and a 300-seat food court, at Prime Outlets - Williamsburg on Friday, April 18 at 11:00 a.m. With a total gross leasable area of 456,922 square feet, the region's largest outlet shopping destination will now offer shoppers 120 stores.

Located on Richmond Road, four miles from I-64, Prime Outlets - Williamsburg serves the Williamsburg, Richmond and Norfolk metro markets. The shopping center will celebrate the public grand opening of its newly expanded property with local officials and its construction partners at a ribbon cutting and tree planting ceremony beginning at 11:00 a.m.

Adidas Factory Outlet, American Eagle Outfitters, Burberry, COACH Factory, kate spade, Kenneth Cole, Juicy Couture, Lucky Brand Jeans, PUMA, Skechers, Tommy Bahama and True Religion Brand Jeans will join leading brands such as BCBGMAXAZRIA Factory Store, Calvin Klein, Michael Kors, Nike, Polo Ralph Lauren and Under Armour at Prime Outlets - Williamsburg.

According to Prime Retail's Senior Vice President of Marketing Karen Fluharty, the expansion project at Prime Outlets - Williamsburg represents the company's commitment to create large, well-tenanted outlet centers throughout its portfolio.

"We are enhancing the shopping experience for both regional shoppers and tourists alike at Prime Outlets - Williamsburg. Our goal is to offer a large and compelling mix of leading designer and brand name stores that offer shoppers everyday savings of up to 65 percent off regular retail prices in major markets throughout the U.S."

In addition, the expansion at Prime Outlets - Williamsburg was designed to comply with federal requirements for "green building." Construction elements including the largest pervious concrete paving project in the U.S., eco-conscious storm water management, rain water recycling irrigation and reduced water consumption will qualify the property for LEED certification (Leadership in Energy and Environmental Design).

Prime Outlets - Williamsburg's public grand opening weekend schedule of events include:

    -- A complimentary, limited-edition Prime Outlets - Williamsburg "Green is
       Gorgeous" canvas tote bag for the first 500 shoppers visiting Guest
       Services located in the food court on Friday, April 18.
    -- Special merchant discounts and offers during extended grand opening
       weekend shopping hours from Friday, April 18 through Sunday, April 20.
    -- The chance to win Prime Outlets - Williamsburg's Ultimate Shop and Stay
       Sweepstakes worth $1,000.

About Prime Outlets - Williamsburg

Prime Outlets - Williamsburg is located at 5715 Richmond Road in Williamsburg, Virginia. The newly expanded 456,922 square foot outlet center offers everyday savings of 25 to 65 percent off full retail prices and features an exciting collection of brand name retailers including Polo Ralph Lauren, Michael Kors, BCBGMAXAZRIA Factory Store, Under Armour, Coach, Gymboree, Calvin Klein, Waterford Wedgwood and Nike. Shopping center hours along with a complete list of new stores can be found on http://www.primeoutlets.com.

About Prime Retail

Headquartered in Baltimore, Md., Prime Retail is the parent company of Prime Outlets and one of the largest and most successful owners of retail centers in the U.S. Spanning approximately 15 million square feet throughout major United States markets and Puerto Rico, Prime Retail recently added top designer and brand name stores including Giorgio Armani General Store, Gucci, Michael Kors, Polo Ralph Lauren Factory Store, Salvatore Ferragamo Company Store, Zegna Outlet and many more to its portfolio. The company owns and operates 21 well-known outlet centers in markets including Orlando, San Marcos, Texas, Williamsburg, Va., and Grove City, Pa. Adding nearly two million square feet over the next several years, Prime Retail is positioned to become the leading retail outlet company in the industry. For more information, please visit http://www.primeretail.com.