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Dulles Town Center Announces Future Opening Of The Cheesecake Factory

Dulles, Virginia, September 8, 2006 – Lerner Enterprises, Washington, D.C.’s largest private real estate developer, announced today that they have signed a lease agreement with The Cheesecake Factory Incorporated for a 10,209-square-foot restaurant at Dulles Town Center in Loudoun County, Virginia. The new 300-seat restaurant will be located adjacent to Nordstrom and the newly added LA Fitness and Dicks Sporting Goods stores. An anticipated opening is scheduled for late 2006.

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. Lerner inked the deal after years of hearing customer requests from Dulles Town Center patrons. Loudoun County Supervisor Bruce E. Tulloch (R-Potomac District), who sits on the Loudoun Board of Supervisors’ economic development committee, was instrumental in getting the project approved.

“Loudoun is the second-fastest growing county in the nation and now boasts the country’s highest median household income,” noted Tulloch. “County residents have wanted a restaurant of this caliber for years. The addition of The Cheesecake Factory will be a huge boon to the people of this region.”

“We are very happy to be opening The Cheesecake Factory at Dulles Town Center in December 2006,” said Howard Gordon, Senior Vice President of The Cheesecake Factory Inc. “Having many loyal fans nationwide and especially in the D.C. area, we are looking forward to becoming part of the Dulles community.” Gordon also noted that Washington was The Cheesecake Factory’s first location outside of the Los Angeles market.

About The Cheesecake Factory Incorporated

The Cheesecake Factory Incorporated operates 109 upscale, casual dining restaurants under The Cheesecake Factory name that offer an extensive menu of more than 200 items with an average check of approximately $17.00. The Company also operates two bakery production facilities that produce over 50 varieties of quality cheesecakes and other baked products for the Company’s restaurants and for other leading foodservice operators, retailers and distributors. Additionally, the Company operates seven upscale, casual dining restaurants under the Grand Lux Cafe name; one self-service, limited menu “express” foodservice operations under The Cheesecake Factory Express mark inside DisneyQuest family entertainment center in Orlando, Florida; and licenses two bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe name. For more information about The Cheesecake Factory Incorporated, please visit TheCheesecakeFactory.com.

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 as well as The Spectrum at Reston Town Center and North Point Village Center in Virginia. The Lerner Family was recently named the new owners of the Washington Nationals Major League Baseball team.

About Dulles Town Center

Developed by Lerner Enterprises in Partnership with CIGNA Investments Inc., Dulles Town Center is a 554-acre master planned commercial, retail and office park. The two-level regional shopping center comprises 1.5 million square feet and includes anchor stores JCPenney, Lord & Taylor, Macy’s, Nordstrom and Sears as well as 185 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.