Prime Retail Announces New Ground-Up Project North of Atlanta

Site to Offer Nearly Half-Million Square Feet of Retail Space

BALTIMORE, MD, PRNewswire/ -- Prime Retail, a leading outlet shopping center developer, announces the development of a 450,000 square foot outlet center in Holly Springs, Ga., set to open in 2010.

Prime Outlets -- Holly Springs will be located approximately 30 miles north of Atlanta in Cherokee County on Interstate 575 and will serve the metro Atlanta region.

An estimated $120 million project, Prime Outlets -- Holly Springs will house approximately 120 stores. The project is expected to bring approximately 2,000 jobs to the area. (Photo at left shows Prime Outlets San Marcos, TX)

"The Atlanta market ranked off the charts when measured against the criteria we use to determine the potential success of an outlet project," explained Robert Brvenik, (top right photo) president of Prime Retail.

According to the U.S. Census Bureau, the Metro Atlanta region led the nation in population growth between 2000 and 2006, with more than 150,000 people moving to the region each year.

"The need is there for a new, well-tenanted, outlet shopping destination that will provide access to a compelling mix of top designer and brand-name stores that offer shoppers dramatic savings off regular retail prices," Brvenik adds.

Prime Retail's new project joins recent ground-up development announcements for the company, including the 485,000 square foot Prime Outlets -- Grand Prairie, set to serve the Dallas-Fort Worth region, and Prime Outlets -- Livermore, the 485,000 square foot project in the San Francisco Bay area.

(Photo at right shows Prime Outlets St. Augustine, FL)

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 more than eight 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 Prime Outlets 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.

(Bottom left photo shows Prime Outlets Hagerstown, MD)

For more information, please visit http://www.primeretail.com/.

CONTACTS:

Gretchen Ramsey, +1-609-397-4242, ext. 117, Cell,+1-215-337-1899, gramsey@oxfordcommunications.com, or

Sue Helondovitch,+1-609-397-4242, ext. 176, Cell, +1-908-930-6509, shelondovitch@oxfordcommunications.com,

both of Oxford Communications. Web site: http://www.primeretail.com/