Taubman Asia Announces Samsung Tesco Homeplus as Second Anchor for Korea's Songdo IBD Shopping Center

BLOOMFIELD HILLS, MI, Sept. 30 /PRNewswire-FirstCall/ -- Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE:TCO), today officially announced that hypermarket giant, Tesco Homeplus, has signed to be the second anchor at the shopping center (top right photo) at Songdo International Business District (Songdo IBD), a 1,500-acre city being constructed in Incheon, Korea.

Songdo IBD is being developed by New York headquartered Gale International and Korea's POSCO E&C in a 70/30 joint venture

"This is the second anchor deal to be completed for Songdo Shopping Center, following the Lotte Department Store announcement in April.

"We are very excited to have secured another leading retailer for the project, further adding to the momentum as we move closer to creating a world class retail and lifestyle destination that will be an international landmark for Korea," said Morgan Parker, (middle left photo) president of Taubman Asia, the manager and developer of Songdo Shopping Center.

"The two story hypermarket, which is to be built on block A1, will cover approximately 21,276sqm (230,000 sq. ft.) of gross leasable space and will add another crucial dimension to what will be a truly remarkable international shopping center," he added.

The two-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space that includes Lotte Department Store. (middle right photo)

The shopping hub of Songdo IBD will also feature Tesco Homeplus hypermarket, a multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.

CONTACTS: Barbara Baker, Vice President, Investor Relations,+1-248-258-7367, bbaker@taubman.com,

Karen Mac Donald, Director,Communications, +1-248-258-7469, kmacdonald@taubman.com,

both of TaubmanCenters, Inc.;

Pamela So, Weber Shandwick, Hong Kong, +852-2533-9916, pso@webershandwick.com;

Phillip Anderson, News Communications, Korea,+82-2-6323-5050, phillip.anderson@newscom.co.kr;

Hyewon Chang, GaleInternational - Domestic-ROK, +82-2-6260-3353, hwchang@galeintlkorea.com,

MaryLou DiNardo, Gale International-U.S. and International, +1-212-909-0340,tkpr1@aol.comWeb site: http://www.taubman.com/http://www.songdo.com/