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Dulles Town Center Announces Opening Of The Cheesecake Factory And
LA Fitness

Dulles, Virginia, December 7, 2006 – Lerner Enterprises, Washington, D.C.’s largest private real estate developer, announces the opening of The Cheesecake Factory and LA Fitness at Dulles Town Center in Dulles, Virginia.  The 1.4 million square foot mall is a joint venture development between Lerner and CIGNA.

“We are delighted to add The Cheesecake Factory and LA Fitness, two of the most distinguished companies in their respective industry, to an already impressive and growing roster of tenants” stated Arthur N. Fuccillo, Senior Executive Vice President/Development and Construction for Lerner Enterprises.  “Demand for retail of this caliber is expected by Loudoun County’s residents, ranked as the wealthiest county in the nation.  High-end retailers continue to express a strong interest in Dulles Town Center and we are proud to introduce them to such a deserving market” added Mr. Fuccillo.

The Cheesecake Factory is a unique, upscale casual-dining restaurant offering more than 200 menu selections and 50 types of cheesecakes and desserts.  The Dulles Town Center location will mark the sixth D.C. area location for The Cheesecake Factory, a highly sought-after retail tenant whose 2005 sales exceeded $1.1 billion.

LA Fitness is an Irvine, California-based health club chain with approximately 160 locations in 20 markets throughout the United States.  Its new facility at Dulles Town Center boasts more than 80 pieces of state-of-the-art cardio equipment, a basketball court, racquetball courts, an indoor lap pool and separate aerobics and stationary bike studios.  It also offers more than 50 classes a week encompassing such diverse interests as Pilates and yoga for a variety of fitness levels as well as personal training and on-site childcare.  The Dulles location is the company’s first in the Washington metropolitan region and is part of a national expansion plan.

About Lerner Enterprises

Lerner Enterprises, founded by Theodore N. Lerner, is Washington, D.C.’s largest private real estate developer. Based in North Bethesda, Maryland, the company is involved in all phases of commercial and residential real estate, including planning, development, construction, leasing, asset management and property management.  Lerner Enterprises has developed and currently manages through Lerner Corporation, its leasing and management affiliate more than 15 million square feet of office, retail and residential space. Lerner retail projects include White Flint, Annapolis Harbour Center, Fallsgrove Village Center and Towne Plaza in Maryland; Washington Square at Connecticut Avenue and L Street, NW in downtown Washington, as well as The Spectrum at Reston Town Center, Dulles 28 Centre and North Point Village Center in Virginia.  Lerner’s completed developments in Dulles Town Center include Dulles Town Center, a 1.4 million sq. ft. super-regional mall; Remington at Dulles Town Center and Parc Dulles at Dulles Town Center, two luxury Class A+ apartment communities; a 157-room Courtyard by Marriott; 21000 Atlantic Boulevard, a 185,000 sq. ft. award-winning office building; 45745 Nokes Boulevard, a 95,000 sq. ft. office/flex building; and Colonnade at Dulles Town Center, a 156 townhome development.  The Lerner Family was recently named the new owners of the Washington Nationals Baseball Club.

About Dulles Town Center

Developed by Lerner Enterprises, Dulles Town Center is a 554-acre master planned commercial, retail and office park in Dulles, Virginia.  Dulles Town Center Mall, a joint venture development with Cigna Investments, is a two-level regional shopping center comprised of 1.4 million square feet that includes JCPenney, Lord & Taylor, Macy’s, Nordstrom, Dick’s Sporting Goods, LA Fitness and Sears as well as 185 specialty stores and restaurants. The project is located at the intersection of Virginia Routes 7 and 28 in Dulles, Virginia, in burgeoning Loudoun County.  More information on this premier retail property can be found at ShopDullesTownCenter.com.