PRIME RETAIL TAPS CARL CHUDNOFSKY TO LEAD MALL DIVISION

BALTIMORE, June 15, 2007 -- Prime Retail, one of the largest and most successful owners of retail centers in the country, announces today the appointment of Carl B. Chudnofsky as executive vice president, managing director of its Mall Division responsible for overseeing Prime Retail’s mall portfolio.

Chudnofsky brings more than 30 years of retail and shopping center experience to Prime Retail.  The founder and former chief executive officer of CB Ventures, Chudnofsky also served as president of the WellsPark Group where he was responsible for the management of a 50 mall portfolio. 

Earlier in his career, Chudnofsky served on the senior management team and executive board of Filene’s, a division of Federated Department Stores.  Chudnofsky was also the founder of The Mall Radio Network, a national mall music and sound provider, and currently serves as chairman.

“Carl’s business savvy, development experience and in-depth industry knowledge will be instrumental as we continue to strengthen and expand our family of mall locations throughout the country,” said Bob Brvenik, president, Prime Retail.

Chudnofsky, a Boston native and life-long Red Sox fan, is an active member of the Greater Boston community heavily involved with organizations including the National Commission of the Anti-Defamation League and Bureau of Jewish Education in Greater Boston.

A graduate of the School of Business at Northeastern University, Chudnofsky resides in Sudbury, MA, with his wife and two children.