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Rockville, October 25, 2012

Statement by Alan H. Gottlieb, Chief Operating Officer of Lerner Enterprises

"After years of planning, we are excited to proceed on the next generation of White Flint.  Our 44-acre property will be transformed in phases into a cosmopolitan mixed-use development, that will act as the new icon of the White Flint community and the Greater Washington region.  We would like to thank our retailers, neighbors, government officials, partners and hardworking team members, who have believed in our vision of transforming White Flint into one of the largest, pedestrian-oriented mixed-use urban developments in the region, for their long-standing commitment and dedication."

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