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Regal Entertainment Group and Dulles Town Center Announce Agreement to Open State-of-the-art 10-screen Cinema Featuring the Regal Premium Experience Giant Screen Presentation

Dulles, Virginia, May 22, 2012 - Lerner Enterprises of Rockville, Maryland, Washington, D.C.’s largest private real estate developer, is proud to announce that Regal Entertainment Group (NYSE: RGC), the largest and most geographically diverse theatre circuit in the United States, has signed an agreement for a 10-screen state-of-the-art cinema to open at Dulles Town Center in Dulles, Loudoun County, Virginia.  The theater will contain approximately 2,000 stadium seats, and all-digital projection for 10 screens including a giant screen presentation called the Regal Premium Experience. Groundbreaking is scheduled for later this year, with a planned opening in early 2014.

The Regal Premium Experience (RPX) presents movies the way filmmakers intended with powerful, uncompressed surround sound and bright eye-popping images in 2D and RealD 3D.  Patrons enjoy the custom-built premium environment featuring elegant and luxurious seats with high-back headrests, a giant immersive screen illuminated by high-quality digital projectors and completed with a state-of-the-art sound system for the best picture you have ever heard.

“Dulles Town Center has continually evolved and elevated our retail mix to maintain our position as the dominant shopping and dining destination for western Fairfax and Loudoun Counties” stated William J. Winterburn, Vice President of Lerner for Retail Leasing.  “By adding the Regal Dulles Town Center Stadium & RPX Theaters to our exclusive collection of lifestyle retailers and full-service restaurants, millions of shoppers will be able to shop, dine and be entertained in one premium location,” he added.

As part of the new theater project, the mall will build a 45,000 square-foot theater complex.  The theater box office will be located within the interior of the mall on the upper level immediately adjacent to a new mall entrance that will open with the theater.  The mall will be open during the entire construction process.

“Dulles Town Center is already a tremendous development with an excellent mix of best-in-class retailers and restaurants.  We are excited to become a part of this retail, restaurant and entertainment center and look forward to creating an exciting venue for our patrons,” said Russ Nunley, Vice President of Marketing and Communications for Regal Entertainment Group.

Regal Entertainment Group (NYSE: RGC) operates the largest and most geographically diverse theatre circuit in the United States, consisting of 6,580 screens in 522 theatres in 37 states and the District of Columbia as of April 26, 2012, with over 211 million attendees for the fiscal year ended December 29, 2011.

About Dulles Town Center

Dulles Town Center, located just outside Washington, D.C. in the wealthiest county in the nation – Loudoun County, Virginia – is a 554-acre master planned commercial, retail and office park in Dulles, Virginia.  Within the planned development, Dulles Town Center mall (ShopDullesTownCenter.com), developed by both Lerner Enterprises and Cigna, is a two-level super-regional shopping center comprised of approximately 1.4 million square feet of retail space.  The center is strategically situated near major employers, Fortune 500 Companies and Washington Dulles International Airport.  Dulles Town Center features a “who’s who” of exclusive retailers and restaurants that complement the affluent lifestyle of Dulles Town Center’s premium trade area.  Retailers and restaurants include a new Ann Taylor concept store, Bare Escentuals, Teavana, an Old Navy “Project One” store, P.F. Chang’s China Bistro, The Cheesecake Factory, Caché, Monsoon, Swarovski, H&M, LA Fitness, Dick’s Sporting Goods, Abercrombie & Fitch, Banana Republic, totaling approximately 185 specialty stores and 11 full-service restaurants.  Dulles Town Center is also home to the only department stores available in Loudoun County which include Nordstrom, Macy’s, Lord & Taylor, JCPenney and Sears.

About Lerner Enterprises

Lerner Enterprises (Lerner.com) of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is Washington, D.C.´s largest private real estate developer and is involved in all phases of commercial, residential, retail, hotel and mixed-use real estate.  This includes planning, development, construction, leasing, asset and property management.  Lerner has developed and currently manages more than 20 million square feet of office buildings, retail centers and residential communities.  Lerner´s retail portfolio includes such notable assets as Dulles Town Center (ShopDullesTownCenter.com), Dulles, VA; White Flint (ShopWhiteFlint.com), North Bethesda, MD; Fallsgrove Village Center (FallsgroveVillageCtr.com), Rockville, MD; Dulles 28 Centre (Dulles28Centre.com), Dulles, VA; Annapolis Harbour Center (AnnapolisHarbourCenter.com), Annapolis, MD; North Point Village Center (NorthPointVillage.com) and The Spectrum at Reston Town Center (TheSpectrumatRTC.com), both in Reston, VA; among many others.  Lerner was also the original developer of Tysons Corner Center and Tysons Galleria in Tysons Corner, VA; and Wheaton Plaza in Wheaton, MD.