THE LIGHTSTONE GROUP REPORTS RETAIL LEASING ACTIVITY IS BRISK AT BROWNTOWN SHOPPING CENTER IN OLD BRIDGE, NEW JERSEY

Guests Can Expect a New Look this Year as Renovation Plans Get Underway

OLD BRIDGE, NJ, MAY 9, 2005 - The Lightstone Group, a diversified real estate company headquartered in Lakewood, New Jersey, announced that retail leasing activity is brisk at its Browntown Shopping Center, located on Route 516 in Old Bridge, New Jersey. The 86,000-square-foot center has signed on new tenants, including Wendy's Old Fashioned Hamburgers and Ralph's Famous Italian Ices, and has renewed leases with several key tenants as well. In addition, renovation plans are well underway to upgrade the center's façade and make other exciting site improvements within the year.

Jeffrey Dash, director of leasing for The Lightstone Group, spearheaded these leasing transactions, with assistance from Carolyn Cicalese of Princeton Property Realty and Samuel Kates of GK Commercial.

"We are delighted to welcome our new tenants to Browntown Shopping Center, as well as successfully retaining our existing tenants," said Dash. "As we begin to commence these exciting improvements, which will create an entirely new shopping experience for our guests, we hope to continue to attract a dynamic and sought-after tenant mix that will entice even more visitors to the center."

Leasing highlights at Browntown Shopping Center include:

	Wendy's Old Fashioned Hamburgers, the No. 3 hamburger chain by sales in the United States, began construction on its brand-new 3,500-square-foot location and is slated to open this summer.
	Ralph's Famous Italian Ices, with more than 15 locations in the New York Metro area, will be breaking ground shortly on its newest 1,000-square-foot location.
	Diva's Beauty Supply has relocated to a much larger space at Browntown Shopping Center, doubling its square footage to 2,000 square feet.
	Model Nails and Janet's Dance Centre have renewed their long-term lease commitments at the center, joining existing tenants Drug Fair and NY Sports Club.

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