Friday, August 23

Newest X Games Skatepark to Open

Press Release

Arlington, Va. – August 23, 2002 - ESPN and The Mills Corporation (NYSE: MLS) today announced that the grand opening date of the X Games Skatepark at Franklin Mills in Philadelphia, Pa. is on Monday, August 26th.

At a recent preview event held at the Skatepark, X Games athletes Fabiola da Silva (Aggressive In-line Skate), Omar Hassan (Skateboard) and Philadelphia native Kerry Getz (Skateboard), as well as several members of the action sports industry had an opportunity to see the park first-hand. The feedback from the event is the park is a fantastic addition to the Philadelphia area for action sports enthusiasts.

The 40,000-square-foot center will be the first of its kind in the Philadelphia region and will offer public facilities for skateboarding, bicycle motocross (BMX) and in-line skating. The indoor skatepark will feature 25 skate, board and bike ramps for athletes of all levels as well as a six-foot half pipe with sub box and wall ride.

The opening of the newest X Games Skatepark was timed to coincide with the conclusion of X Games VIII that were held August 15-19 at Philadelphia's First Union Complex. More than 221,000 people attended this year's X Games.

"Opening the latest X Games Skatepark in Franklin Mills allows the thrill of the X Games to remain in Philadelphia year round," said Scott Gugliemino, Director of --more-- Programming and Acquisitions, ESPN. "We are overjoyed to provide athletes of all skill levels with a place to learn and practice."

SKATEPARKS TO HOST EXHIBITIONS

The X Games Skateparks will feature a large screen television for X Games' viewing parties; a lounge for skaters and riders; and a major retail outlet with an extensive collection of action sports merchandise, including clothes, equipment, footwear, video games and more.

"Franklin Mills welcomes the X Games Skatepark to the center. I am certain that the skatepark will quickly prove to be a great addition to our entertainment and retail offerings," said Richard Kenwood, CSM, General Manager of Franklin Mills. "We anticipate great success with the skatepark and look forward to possibly hosting X Games-related events in the future."

The relationship between ESPN and The Mills spawned the first ESPN X Games Skatepark at Discover Mills in Atlanta, Ga., which opened last November. Recently, the Skatepark at Discover Mills hosted the EXPN Invitational, a qualifier for the X Games. Last year, ESPN and The Mills announced a licensing agreement to build state-of-the-art public skateparks at several additional Mills centers.

Day-to-day operations of the facility at Franklin Mills will be handled by Burroughs & Chapin Company, Inc., a Myrtle Beach based, privately held company that is a leader in the fields of entertainment, property development and property management. For information on the skatepark, including hours and more, call 215-632-1500.

Franklin Mills features over 200 outlet, retail, manufacturer direct and entertainment venues. Over 19 million visitors per year experience the unique "Shoppertainment" --more-- offered by Franklin Mills making it the top tourist destination in Pennsylvania. Visitors can shop at Nordstrom Rack, Off 5th Saks Fifth Avenue Outlet, Last Call from Neiman Marcus as well as enjoy family fun at Jillian's Entertainment Complex and AMC Theater. Franklin Mills is located just off Interstate 95 at Woodhaven Road.

ESPN's X Games franchise includes the Winter X Games, X Games, International X Games Qualifiers, The ESPN Action Sports and Music Awards, EXPN.com, EXPN 2Day, The Tony Hawk Gigantic Skatepark Tour and the newly announced X Games Global Championships.

The Mills Corporation is a self-managed real estate investment trust (REIT) based in Arlington, Va., that owns, develops, leases, manages and markets a portfolio of 13 market dominant retail and entertainment destinations (12 Mills and one Block) totaling approximately 18 million square feet in 11 states. Currently, the company has five projects under construction and/or development in the United States and two internationally: Toronto, Canada and Madrid, Spain. The company's Internet address is www.millscorp.com. ###