                                                                    Exhibit 99.1

                [LETTERHEAD OF CBL & ASSOCIATES PROPERTIES., INC]


CBL Closes on Acquisition of Three-Mall Portfolio for $516.9 Million Page 2
November 17, 2005



Investor Contact: Katie Reinsmidt           Media Contact: Deborah Gibb
                  Director of Investor                     Director of Corporate
                    Relations                              Relations
                  (423) 490-8301                           (423) 490-8315

         CBL & ASSOCIATES PROPERTIES CLOSES ON ACQUISITION OF THREE-MALL
                          PORTFOLIO FOR $516.9 MILLION

CHATTANOOGA,  Tenn.  (November  17,  2005) - CBL & Associates  Properties,  Inc.
(NYSE: CBL) today announced that it has closed on the acquisition of three malls
from a group of investors  advised by Eastdil Realty Company.  CBL has purchased
Oak Park Mall in Overland Park (Kansas City), KS; Hickory Point Mall in Forsyth,
IL;  and  Eastland  Mall  in  Bloomington,  IL,  for a  total  consideration  of
approximately $516.9 million, including estimated closing costs.

     The Company financed the acquisitions using approximately $94.25 million of
cash,  assumption of new long-term,  fixed-rate  non-recourse mortgage debt, and
the issuance of $54.4  million in Special  Common Units (SCUs) of the  Company's
Operating  Partnership.  The SCUs were  issued at a value of $47.50 per unit and
are exchangeable on a one-for-one basis with the Company's common stock.

     Concurrent  with the  transaction  close,  CBL  assumed a total of  $368.25
million in three new 10-year non-recourse mortgage loans secured individually by
each of the three properties at an interest rate of 5.85%. The new loans include
a $275.70 million  non-recourse  loan secured by Oak Park Mall in Overland Park,
KS, a $59.40 million  non-recourse loan secured by Eastland Mall in Bloomington,
IL, and a $33.15 million  non-recourse loan secured by Hickory Point in Forsyth,
IL. The loans secured by Oak Park Mall and Eastland Mall are interest only.

     Oak Park Mall is the leading shopping, dining and entertainment destination
in the greater Kansas City area,  and is located near  Interstates 35 and 435 on
West 95th Street at Quivira in Overland  Park,  KS. The City of Overland Park is
one of Kansas City's fastest growing  suburbs with the five-year  growth average
approaching  10.0% and average  income levels 38.0% above the national  average.
The 1.5-million-square-foot,  two-level,  super-regional mall is currently 96.8%
occupied and provides  shoppers with  approximately  470,000 square feet of mall
shop retailers, including Ann Taylor, Aveda, Banana Republic, Crabtree & Evelyn,
J. Crew, and many more.  Originally built in 1974, the mall was expanded in 1998
and fully  renovated in 2001.  Average mall shop sales were $455 per square foot
in 2004. The mall is anchored by Dillard's North,  Dillard's  South,  Nordstrom,
JCPenney,  and The Jones  Store.  Oak Park Mall is a popular  entertainment  and
dining  destination  for Overland Park  residents,  boasting a Rain Forest Cafe,
Mimi's  Cafe,  Outback  Steakhouse,  Ruby  Tuesday's,  T.G.I.  Friday's,  and  a
freestanding AMC Theater.

     Eastland  Mall is located at the  intersection  of  Business  I-55 and East
Empire Street in the rapidly expanding city of Bloomington,  IL.  Bloomington is
located in central Illinois, approximately 130 miles southwest of Chicago and is
home to two major  universities  and three hospitals.  The  737,000-square-foot,
single-level  mall was built in 1967 and most  recently  renovated in 2000.  The
mall is anchored by  Bergner's,  Famous Barr,  Kohl's,  JCPenney,  and Sears and
offers more than  225,000  square  feet of mall shop  retailers.  Eastland  mall
produced mall shop sales of $322 per square foot in 2004 and is currently  85.8%
occupied.

<PAGE>
CBL Closes on Acquisition of THree-Mall Portfolio for $516.9 Million
Page 2
November 17, 2005

     Hickory  Point Mall is located in Forsyth  (Decatur),  IL, near US Route 51
and  Interstate  72.  Decatur serves as the medical and financial hub to a broad
agricultural trade area. Originally built in 1977, the 743,000-square-foot  mall
was last  renovated in 2000.  Hickory  Point's five anchors  include  Bergner's,
JCPenney,  Kohl's,  Sears,  and Von Maur.  The mall  includes  more than 243,000
square feet of mall shops, which produced $201 in sales per square foot in 2004.
Hickory Point is currently 68.0% occupied.

     CBL is one of the largest and most  experienced  owners and  developers  of
malls and  shopping  centers in the  country.  CBL owns,  holds  interests in or
manages 131  properties,  including  79  regional  malls/open-air  centers.  The
properties are located in 26 states and total 73.7 million square feet including
2.0 million square feet of non-owned shopping centers managed for third parties.
CBL currently has nine projects under  construction  totaling 1.9 million square
feet including Phase II of Gulf Coast Town Center in Ft. Myers,  FL, an open-air
shopping center located in Stillwater,  OK, two community centers, an associated
center, and four expansions.  In addition to its office in Chattanooga,  TN, CBL
has a regional office in Boston  (Waltham),  MA.  Additional  information can be
found at cblproperties.com.

     Information  included herein contains  "forward-looking  statements" within
the meaning of the federal  securities  laws.  Such  statements  are  inherently
subject  to risks and  uncertainties,  many of which  cannot be  predicted  with
accuracy  and some of which  might not even be  anticipated.  Future  events and
actual events,  financial and otherwise,  may differ  materially from the events
and results discussed in the forward-looking  statements. The reader is directed
to the Company's  various  filings with the Securities and Exchange  Commission,
including  without  limitation the Company's  Annual Report on Form 10-K and the
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  incorporated by reference  therein,  for a discussion of such risks
and uncertainties.



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