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CHATTANOOGA, TN-CBL & Associates Properties Inc. said Wednesday its board has approved a two-for-one stock split. The split will be effected in the form of a stock dividend.The stock split will increase CBL’s outstanding common shares 31.47 million to 62.94 million and Operating Partnership Units from 25.63 million to approximately 51.26 million. The record date for the stock split is June 1. The distribution date is June 15, 2005. The increase was approved at the company’s annual meeting of shareholders held on May 9, 2005.CBL & Associates Properties Inc. is the fourth largest mall REIT in North America and the largest owner of malls and shopping centers in the Southeast ranked by GLA. CBL owns, holds interests in or manages 167 properties, including 70 enclosed regional malls. The properties are located in 29 states and total 73.5 million sf including 2 million sf of non-owned shopping centers managed for third parties.

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