FOR IMMEDIATE RELEASE: January 21, 2010

FOR IMMEDIATE RELEASE: January 21, 2010

MEDIA CONTACT:

Sheryl Craig or Donald Wilson

310-899-2900

or

Deborah Blackford

714-280-8765

NOTE: Renderings Available

CRAIG REALTY GROUP ANNOUNCES EXPANSION FOR L.A.’S ONLY OUTLETSHOPPING CENTER, CITADEL OUTLETS

Expansion Creates New Jobs, Top Brand Stores,

Multi-Level Parking Structure

City of Commerce, California – Despite challenges in the local and national economy, Citadel Outlets, Los Angeles’ only outlet shopping center, announces it will expand the existing 276,210 sq. ft. shopping center by opening an additional 157,000 sq. ft. by December 2010. Owned and operated by Craig Realty Group, a Southern California retail based developer.

The Phase III Expansion will be an outstanding opportunity for Los Angeles area employment. Throughout the year-long construction project, Citadel Outlets envisions an estimated 1,000 new construction jobs will be createdwith an additional 297 retail jobs available upon the opening of the 35 additional new stores. New stores include “wow” tenants Gap Outlet, Under Armour, Esprit, Adidas and Columbia Sportswear.

Given the continued success of the outlet center, including a 6% increase in traffic for 2009 versus 2008, Craig Realty Group feels that this is the perfect time to add 57% more square footage to the existing center. Citadel Outlets will open 35 new stores as part of the expansion as well as a new multi-level parking structure. An estimated 200 new parking spaces will be available to customers, located along Hoefner Avenue. The 35 store development will connect existing retailers Tommy Hilfiger Company Store to Kitchen Collection.

Working closely with the City of Commerce, Citadel Outlets is committed to a revitalization of the area through the Phase III expansion. Since 2003, Craig Realty Group and Citadel Outlets have built a mutually beneficial partnership with the City of Commerce. Together, they added Phase II of the popular outlet center, eight high-definition LED billboards andmodernized the existing buildings and Food Court.In 2006, they restored the historic Assyrian wall that adorns Interstate 5.

“The Citadel Outlets Phase III expansion is a significant opportunity for jobs, and we are proud to be part of the redevelopment of this area as a whole,” said Steve Craig, Managing Partner, Craig Realty Group. “The City of Commerce is an extraordinarily great partner and progressive city. Our new phase will not only add new longtime jobs to the community, but will allow us to become an even greater contributor to the City’s revival.”

All parties involved with the expansion are excited for the project, including the creation of additional jobs and revenue through property and sales taxes.“In these difficult economic times, especially for the construction industry, it is a great feeling to be able to put hundreds of people back to work,” says Jim Stowell, President, J.A. Stowell, Construction, Inc., a Southern California based general contractor for the expansion who was retained to oversee the construction.

David Bickerton, Project Manager, Bickerton Iron Works, Inc. states, “We worked closely with Craig Realty Group to secure 25 local jobs versus sending the jobs offshore and are pleased to have been selected for this project. Because Citadel Outlets has hired a local steel fabricator like ours, we believe this is a strong indicator of better times to come in our trade area.”

About Citadel Outlets: Only in Los Angeles is it possible to drive to an Assyrian palace to buy blue jeans, jewelry, and leather goods. It’s wall-to-wall shopping with over 85 top brand-name stores and restaurants. Citadel Outlets completed an expansion in November 2005 adding 35 more stores to the tenant mix. The center now features brand-name stores including Kenneth Cole, Banana Republic Factory Store, Justice for Girls, BCBG, Calvin Klein, Guess Factory Store, Tommy Hilfiger, Puma, Ann Taylor Factory Store and Old Navy. Dining options were also enhanced with the addition of Ruby’s Diner.L.A.’s answer to outlet shopping, Citadel Outlets has come a long way since its historical facade was erected 80 years ago. Starting off as a tire factory - the largest tire manufacturing facility on the West coast – Citadel Outlets has transformed into a 742,000-square-foot mixed-use commercial property, featuring a 201-room Doubletree Hotel, four multi-tenant office buildings and Los Angeles' only outlet shopping center. Citadel Outlets and Office Park, located 10 minutes southeast of downtown Los Angeles on Interstate-5 at Atlantic Boulevard North, is owned and managed by Craig Realty Group.

Craig Realty Group is a shopping center development firm founded by Steven L. Craig and is based in Newport Beach, California. The firm specializes in upscale factory outlet centers. The company currently owns and operates Outlets at Anthem in Phoenix, Arizona; Cabazon Outlets located near Palm Springs, California; Citadel Outlets in Los Angeles, California; Outlets at Conroe located near Houston, Texas; Outlets at Hillsboro south of Dallas/Fort Worth; Outlets at Castle Rock located south of Denver, Colorado; Outlets at Loveland located north of Denver, Colorado; Outlets at Silverthorne located west of Denver, Colorado; Outlets at Vicksburg in Vicksburg, Mississippi and Woodburn Company Stores located near Portland, Oregon. Craig Realty Group also manages Lake Elsinore Outlets located in Lake Elsinore, California. The company is currently developing Plaza San Clemente in San Clemente, California, a 650,000 square foot mixed-use project, Sussex Commons Lifestyle Outlets in Frankford Township, New Jersey, Outlets at Traverse Mountain in Lehi, Utah, Chicagoland Outlets at Country Club Hills located 25 miles southeast of downtown Chicago, Illinois, and Lifestyle Outlets at Manteca, a joint venture project in California’s central valley. Craig previously developed Carlsbad Company Stores, which was sold to an east coast developer, and FranciacortaOutletVillage in Brescia, Italy. Craig was also responsible for the development of Desert Hills Premium Outlets in Cabazon, one of the largest and most successful manufacturer outlet centers in the world and was instrumental in developing Camarillo Premium Outlets in Camarillo, California. For more information about the company, visit Realty Group was the highest bidder for the Orange County Fairgrounds and is currently in the process of working with the State to finalize the acquisition of the 150-acre landmark property. For more information about the company, visit