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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000910612-07-000153.txt : 20070815
<SEC-HEADER>0000910612-07-000153.hdr.sgml : 20070815
<ACCEPTANCE-DATETIME>20070815144732
ACCESSION NUMBER:		0000910612-07-000153
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070809
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070815
DATE AS OF CHANGE:		20070815

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CBL & ASSOCIATES PROPERTIES INC
		CENTRAL INDEX KEY:			0000910612
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				621545718
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12494
		FILM NUMBER:		071059349

	BUSINESS ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421
		BUSINESS PHONE:		4238550001

	MAIL ADDRESS:	
		STREET 1:		2030 HAMILTON PLACE BVLD, SUITE 500
		STREET 2:		CBL CENTER
		CITY:			CHATTANOOGA
		STATE:			TN
		ZIP:			37421
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8kfinal.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <div style="WIDTH: 600px">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">UNITED STATES</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">Washington, D.C.</font></b><font size="2">&nbsp;</font>
            <b><font size="2">20549</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">FORM 8-K</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">CURRENT REPORT</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">PURSUANT TO SECTION 13 OR 15(d) OF THE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SECURITIES AND EXCHANGE ACT OF 1934</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Date
            of report (Date of earliest event reported):&nbsp;</font> <b><font size="2">August 9,
            2007</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="5">CBL &amp; ASSOCIATES PROPERTIES, INC.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <font size="2">(Exact Name of Registrant as Specified in its Charter)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="center">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="720" border="0">
                    <tr>
                        <td valign="top" width="231">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">Delaware</font></b></p>
                        </td>

                        <td valign="bottom" width="14">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="218">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">1-12494</font></b></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="247">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">62-1545718</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="231">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">(State or Other Jurisdiction of</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">Incorporation)</font></p>
                        </td>

                        <td valign="bottom" width="14">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="218">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">(Commission File Number)</font></p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="247">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="left">
                            <font size="2">(I.R.S. Employer Identification No.)</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="231">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="14">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="218">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="247">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">2030 Hamilton Place Blvd, Suite 500, Chattanooga, TN
                            37421-6000</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">(Address of principal executive office, including zip
                            code)</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="231">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="14">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="218">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="247">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">423.855.0001</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">(Registrant&rsquo;s telephone number, including area
                            code)</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="231">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="14">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="218">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>

                        <td valign="bottom" width="10">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="247">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <b><font size="2">N/A</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">
                            <font size="2">(Former name, former address and former fiscal year, if
                            changed since last report)</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.05in; TEXT-ALIGN: left">
            <font size="2">Check the appropriate box below if the Form 8-K filing is intended to
            simultaneously satisfy the filing obligation of the registrant under any of the
            following provisions (see General Instruction A.2. below):</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">[ ]</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Written communications pursuant to Rule 425 under the
                            Securities Act (17 CFR 230.425)</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">[ ]</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Soliciting material pursuant to Rule 14a-12 under the
                            Exchange Act (17 CFR 240.14a-12)</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">[ ]</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Pre-commencement communications pursuant to Rule
                            14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">[ ]</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Pre-commencement communications pursuant to Rule
                            13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
                        </td>
                    </tr>
                </table>
            </div>
            <!-- EEDocs PBStart-->

            <p style="PAGE-BREAK-BEFORE: always"></p>
            <!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Item
            1.01 Entry Into a Material Definitive Agreement</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.67in; TEXT-INDENT: -0.67in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">CBL &amp; Associates Properties, Inc. (&ldquo;CBL&rdquo;) announced on
            August 9, 2007, that it has entered into two definitive agreements with the Westfield
            Group (&ldquo;Westfield&rdquo;) involving four malls located in the St. Louis, MO area.
            The first agreement provides for Westfield to contribute three malls to CW Joint
            Venture, LLC (&ldquo;the JV&rdquo;), a CBL-controlled joint venture. CBL will also
            contribute six malls and three associated centers to the JV.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The second agreement provides for CBL to directly acquire the fourth
            mall, Chesterfield Mall, from Westfield. CBL will also contribute this mall to the
            JV.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The total value of the three malls to be contributed by Westfield plus
            the mall to be acquired by CBL is approximately $1.03 billion. CBL, either
            independently or through the JV, will assume total debt of approximately $460.0 million
            with a weighted average fixed interest rate of 5.73% secured by the four Westfield
            malls and will pay approximately $154.6 million in cash, consisting of $152.6 million
            to Westfield plus $2.0 million of transaction costs. In addition, Westfield will
            receive approximately $420.0 million of perpetual preferred joint venture units
            (&ldquo;PJV units&rdquo;) of the JV.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The PJV units of the JV will pay an annual preferred distribution at a
            rate of 5.0%. CBL will have the right, but not the obligation, to purchase the PJV
            units following the fifth anniversary of closing at liquidation value, plus accrued and
            unpaid distributions. CBL will be responsible for management and leasing of the
            JV&rsquo;s properties and will own all of the common units of the JV, entitling it to
            receive 100% of the JV&rsquo;s cash flow after operating expenses, PJV unit
            distributions and debt service payments.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">The transaction is expected to close within 90 days.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            &nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="531" border="0">
                    <tr>
                        <td valign="top" nowrap width="48">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="483">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">The press release announcing this transaction is
                            attached as exhibit 99.1.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="330" border="0">
                    <tr>
                        <td valign="top" nowrap width="165">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">Item 9.01</font></b></p>
                        </td>

                        <td valign="top" nowrap width="165">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <b><font size="2">Financial Statements and Exhibits</font></b></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">(a)</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Financial Statements of Businesses Acquired</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            <font size="2">Not applicable</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            &nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">(b)</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Pro Forma Financial Information</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            <font size="2">Not applicable</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">
            &nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">(c)</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Exhibits</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" width="36">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">99.1</font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">Press Release &ndash; CBL Gains Control of Four Leading
                            St. Louis Area Regional Malls in Transactions with the Westfield
                            Group</font></p>
                        </td>
                    </tr>
                </table>
            </div>
            <!-- EEDocs PBStart-->

            <p style="PAGE-BREAK-BEFORE: always"></p>
            <!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <b><font size="2">SIGNATURE</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the
            registrant has duly caused this report to be signed on its behalf by the undersigned
            hereunto duly authorized.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.5in; TEXT-INDENT: 0.5in; TEXT-ALIGN: left">
            <font size="2">CBL &amp; ASSOCIATES PROPERTIES, INC.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="459" border="0">
                    <tr>
                        <td valign="top" nowrap width="224">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="235">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <u><font size="2">/s/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John
                            N.
                            Foy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="447" border="0">
                    <tr>
                        <td valign="top" nowrap width="224">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="224">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="center">
                            <font size="2">John N. Foy</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="491" border="0">
                    <tr>
                        <td valign="top" nowrap width="191">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap align="center" width="300">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">
                            <font size="2">Vice Chairman of the Board, Chief</font></p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">
                            <font size="2">Financial Officer and Treasurer</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Date:
            August 15, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
            <!-- EEDocs PBStart--><!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
        </div>
    </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrelease.htm
<DESCRIPTION>EXHIBIT 99.1 - PRESS RELEASE
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <div style="WIDTH: 600px">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%" align="right">
            <b><font size="4">Exhibit 99.1</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: center">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: center">
            &nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: center">
            <b><font size="4">[CBL &amp; ASSOCIATES PROPERTIES INC. LETTERHEAD]</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: left">
            <font size="2">Media Contact: Deborah Gibb, Vice President - Corporate Relations,
            423.490.8315,</font>
            <font color="#0000ff"><u><font size="2">deborah_gibb@cblproperties.com</font></u></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: left">
            <font size="2">Investor Contact: Katie Reinsmidt, Director of Investor Relations,
            423.490.8301,</font>
            <font color="#0000ff"><u><font size="2">katie_reinsmidt@cblproperties.com</font></u></font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <i><b><font size="2">CBL GAINS CONTROL OF FOUR LEADING ST. LOUIS AREA REGIONAL MALLS IN
            TRANSACTIONS WITH THE WESTFIELD GROUP</font></b></i></p>

            <p style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">
            <i><b><font size="2">CBL to Dominate St. Louis Market with New and Existing Mall
            Portfolio</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">CHATTANOOGA, Tenn. (August 9, 2007) &ndash; CBL &amp; Associates
            Properties, Inc. (NYSE: CBL) today announced that it has entered into two separate
            agreements with the Westfield Group (ASX: WDC), involving four St. Louis, MO-area
            malls. The first agreement will provide for Westfield Group (&ldquo;Westfield&rdquo;)
            to contribute three St. Louis-area regional malls to a CBL-controlled investment
            vehicle, CW Joint Venture, LLC (&ldquo;CW JV&rdquo;). CBL will contribute six of their
            existing wholly owned malls and three associated centers to the joint venture (see
            below for additional information).</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">The second agreement provides for CBL to acquire a fourth regional mall
            from Westfield, Chesterfield Mall. In conjunction with this acquisition, CBL will
            assume a $140.0 million non-recourse loan secured by Chesterfield Mall that bears
            interest at a fixed rate of 5.74%.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">The three St. Louis-area malls to be contributed to the joint venture by
            Westfield include West County Center in Des Peres, Mid Rivers Mall in St. Peters, and
            South County Center in Mehlville. These malls, together with Chesterfield Mall, have a
            total estimated gross value of approximately $1.03 billion. In establishing the value
            of these four malls, the properties will be capped at a 6.2% weighted average cap rate
            based on net operating income in-place at the time of contribution, after a management
            fee and a structural reserve. CBL&rsquo;s five-year projections indicate an estimated
            annual increase of 20-30 basis points to the initial yield on investment.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">CBL&rsquo;s President, Stephen Lebovitz, commented on the transaction,
            &ldquo;We are delighted to enter into this agreement with Westfield. These transactions
            will provide CBL with four premier shopping centers within the rapidly expanding
            suburbs of St. Louis. The combination of these four malls and our existing St. Clair
            Square provides us with a dominant platform in the St. Louis market to maximize leasing
            results, management synergies, and redevelopment opportunities. These well-performing
            assets are positioned for accelerating future growth and we are excited to capitalize
            on their potential.&rdquo;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">The joint venture will assume approximately $320.0 million of debt with
            an average fixed interest rate of 5.72% secured by the three malls being contributed by
            Westfield &ndash; West County Center, Mid-Rivers Mall, and South County Center.
            Westfield will receive approximately $420.0 million of perpetual preferred joint
            venture units (&ldquo;PJV units&rdquo;) of CW JV. CBL will have the right, but not the
            obligation, to purchase the PJV units following the fifth anniversary of closing at
            liquidation value, plus accrued and unpaid distributions. Westfield will be entitled to
            receive a 5.0% annual preferred distribution on approximately $420.0 million of PJV
            units.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">CBL will be responsible for management and leasing of the properties and
            will receive 100% of the property cash flow, after PJV unit distributions and debt
            service payments. CBL expects the transaction to close within 90 days and
            estimates</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="356" border="0">
                    <tr>
                        <td valign="top" nowrap width="289">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="67">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">-MORE-</font></p>
                        </td>
                    </tr>
                </table>
            </div>
            <!-- EEDocs PBStart-->

            <p style="PAGE-BREAK-BEFORE: always"></p>
            <!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><i><font size="2">CBL
            Announces Transactions With Westfield Group</font></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Page
            2</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">August
            9, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">that the transaction will generate approximately $0.05 per share of
            funds from operations for the first twelve months of operation following the
            transaction close.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <u><i><b><font size="2">About The St. Louis Malls</font></b></i></u>
            <font size="2">&nbsp;</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">West County Center ~ St. Louis (Des Peres), MO:</font></b>
            <font size="2">West County Center is a 1.3-million-square-foot mall anchored by the
            state&rsquo;s only Nordstrom as well as Macy&rsquo;s and JCPenney. In addition, an
            anchor position formerly occupied by Lord &amp; Taylor is slated for redevelopment into
            an open-air lifestyle addition. The mall is located on 51.0 acres with excellent
            accessibility at the intersection of I-270 and Manchester Road (Hwy 100). West County
            Center was originally built in 1969 and underwent a $230 million redevelopment in 2002
            adding Nordstrom, three parking structures and a new food court in the process. The
            mall offers premier shops and restaurants including Apple, Sephora, Kate Spade,
            H&amp;M, Elephant Bar and many more. The mall was 93% occupied at December 31, 2006,
            and produced 2006 sales of $462 per square foot.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Mid Rivers Mall ~ St. Peters, MO:</font></b> <font size="2">Mid
            Rivers Mall is a two-story enclosed regional mall located west of St. Louis in the
            rapidly expanding city of St. Peters, MO. The 1.0-million-square-foot mall is the only
            mall in the primary St. Charles County trade area, the fastest growing county in the
            state. The center is located on 79.0 acres along I-70 and is anchored by Macy&rsquo;s,
            Dillard&rsquo;s, JCPenney, Sears, and a 14-screen Wehrenberg Theater. Originally opened
            in 1987, the mall was last renovated in 1996. At December 31, 2006, the mall was 82%
            occupied and produced 2006 sales per square foot of $360.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">South County Center ~ St. Louis (Mehlville), MO:</font></b>
            <font size="2">South County Center is located in the densely populated southwest St.
            Louis suburb of Mehlville. The 1.0-million-square-foot mall is anchored by
            Macy&rsquo;s, Dillard&rsquo;s, JCPenney, and Sears. The mall is well situated on 69.0
            acres along I-255, just east of the I-255, I-55, and I-270 junction. The mall opened in
            1963 and was last renovated and expanded in 2002. At December 31, 2006, the mall was
            85% occupied and produced sales of $370 per square foot in 2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Chesterfield Mall ~ St. Louis (Chesterfield), MO:</font></b>
            <font size="2">Chesterfield Mall is located west of the City of St. Louis at the
            intersection of 40/64 and Clarkson Road in the affluent and growing suburb of
            Chesterfield. The 1.3-million-square-foot, multi-level enclosed regional shopping
            center is anchored by Macy&rsquo;s, Dillard&rsquo;s, and Sears. Chesterfield Mall was
            originally built in 1976 and underwent an extensive $71 million redevelopment and
            renovation in 2006. A state-of-the-art 14-screen AMC Theater and Cheesecake Factory
            were added during the redevelopment as well as a number of additional retail stores and
            restaurants and major upgrades to the mall interior, signage and entrances.
            Chesterfield Mall&rsquo;s strong retail line-up includes Pottery Barn, Swarovski,
            Sephora, H&amp;M, and Williams Sonoma. The mall was 81% occupied at December 31, 2006,
            and produced sales of $317 per square foot in 2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <u><i><b><font size="2">About CBL&rsquo;s Mall Contribution</font></b></i></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">St. Clair Square ~ Fairview Heights, IL:</font></b>
            <font size="2">St. Clair Square is a super-regional mall located east of the Missouri
            River from St. Louis in Fairview Heights, IL and is the only mall serving south and
            southwest Illinois. The 1.1-million-square-foot shopping center has high visibility
            along Highway 64, the area&rsquo;s primary east/west thoroughfare. The mall was
            originally built in 1974 and was last renovated in 2004. The shopping center provides
            more than 290,000 square feet of retail shops and restaurants including J. Bucks
            Restaurant, Abercrombie &amp; Fitch, Aeropostale, C.J. Banks, Build-A-Bear Workshop and
            Bath &amp; Body Works. St. Clair Square generated sales in 2006 of $416 per square foot
            and was 100% occupied at year-end.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Chapel Hill Mall ~ Akron, OH:</font></b> <font size="2">The
            860,000-square-foot Chapel Hill Mall is located in an upscale suburb of Akron,
            OH</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="373" border="0">
                    <tr>
                        <td valign="top" nowrap width="306">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            &nbsp;</p>
                        </td>

                        <td valign="top" nowrap width="67">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">
                            <font size="2">-MORE-</font></p>
                        </td>
                    </tr>
                </table>
            </div>
            <!-- EEDocs PBStart-->

            <p style="PAGE-BREAK-BEFORE: always"></p>
            <!-- EEDocs PBEnd-->

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><i><font size="2">CBL
            Announces Transactions With Westfield Group</font></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Page
            3</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">August
            9, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <font size="2">and serves a trade area that includes two of Ohio&rsquo;s largest
            universities. Originally built in 1966, Chapel Hill Mall underwent a multi-million
            dollar enhancement in 1995, including the addition of a 23,000-square-foot Carousel
            Food Court that features Akron&rsquo;s only full-size indoor operable carousel. Chapel
            Hill Mall was most recently renovated in 2006. The one-story mall is located on 80.0
            acres at the southwest intersection of Howe and Brittain Roads with access to State
            Route 8 approximately one mile to the west. Chapel Hill Mall provides shoppers with
            over 300,000 square feet of shops and restaurants as well as anchors JCPenney,
            Macy&rsquo;s, and Sears. Chapel Hill Mall was 89% occupied at year-end with average
            mall shop sales of $297 per square foot in 2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Greenbrier Mall ~ Chesapeake, VA:</font></b>
            <font size="2">Greenbrier Mall is an 890,000-square-foot, two-story mall located on
            approximately 107.0 acres of land in the southeast corner of Greenbrier Parkway and
            I-64. Anchored by Dillard's, Macy&rsquo;s JCPenney and Sears, Greenbrier Mall also
            offers shoppers more than 304,000 square feet of small shop retailers and restaurants.
            The mall underwent a full interior renovation in fall 2003 with updates to entrances,
            mall signage, flooring, lighting and other improvements. Centrally located off I-64,
            Greenbrier Mall serves the densely populated cities of Chesapeake and Virginia Beach as
            well as the northeastern counties of North Carolina and the Outer Banks. Greenbrier
            Mall was 96% occupied at year-end with average mall shop sales of $363 per square foot
            in 2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Mall of Acadiana ~ Lafayette, LA:</font></b> <font size="2">The Mall
            of Acadiana is considered Southern Louisiana's premier shopping destination, offering
            shoppers more than 100 retail stores and restaurants including Chico's, Ann Taylor,
            Talbot's, Coldwater Creek, Banana Republic, Hollister, Nine West, and many more.
            Anchored by Dillard's, Macy&rsquo;s, Sears and JCPenney, the 1.0-million-square-foot,
            single-level mall includes approximately 307,000 square feet of in-line small shop
            space. The property is located on approximately 73.0 acres and is situated at the
            intersection of US 167 and Ambassador Caffrey Parkway, approximately five miles south
            of Interstate 10. Originally built in 1979, the mall was last renovated in 2004. The
            mall was 98% occupied at year-end and produced sales per square foot of $440 in
            2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Park Plaza ~ Little Rock, AR:</font></b> <font size="2">The
            547,000-square-foot Park Plaza Mall is strategically located in an established
            residential and commercial area. Originally built in 1959, Park Plaza Mall underwent a
            redevelopment in 1988 that transformed the open-air center into an enclosed regional
            mall. The mall was most recently renovated in 2006. The three-level mall is located on
            22.5 acres at the intersection of two major thoroughfares, Markham Street and
            University Avenue, less than one half mile from I-630. Headquartered in Little Rock,
            Dillard's anchors Park Plaza Mall with two flagship department stores including a
            198,000-square-foot store on the west and an 86,300-square-foot location on the east
            side of the center. Park Plaza Mall was 91% occupied at year-end, with average mall
            shop sales of $487 per square foot in 2006.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
            <b><font size="2">Westmoreland Mall ~ Pittsburgh (Greensburg), PA:</font></b>
            <font size="2">Westmoreland Mall is Westmoreland County&rsquo;s premier shopping
            destination with more than 1.0 million square feet of retail, dining and entertainment.
            Serving one of western Pennsylvania&rsquo;s fastest growing townships, Hempfield
            Township, the mall&rsquo;s trade area encompasses 17 school districts plus six colleges
            and universities. The mall is conveniently located on approximately 105 acres at the
            intersection of US Route 30 East and Donahue Road. Originally built in 1977 the mall
            was last renovated in 2002. Macy&rsquo;s, The Bon-Ton, Sears, JCPenney, Steve &amp;
            Barry&rsquo;s University Sportswear and a 15-screen Carmike Theater anchor the shopping
            center. In 2006 Westmoreland Mall generated sales of $327 per square foot and was 98%
            occupied at year-end.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; LINE-HEIGHT: 120%; TEXT-ALIGN: justify">
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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><i><font size="2">CBL
            Announces Transactions With Westfield Group</font></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Page
            4</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">August
            9, 2007</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">About The Westfield Group</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">The
            Westfield Group (ASX: WDC) is the 9th largest entity member of the Australian
            Securities Exchange/S&amp;P 200 Index. Operating on a global platform, the Group is an
            internally managed, vertically integrated shopping center group, undertaking ownership,
            development, design, construction, funds and asset management, property management,
            leasing and marketing employing in excess of 4,000 staff worldwide. The Group has
            interests in an investment portfolio of 119 shopping centres valued in excess of A$58.4
            billion (US$49.7 billion) located in Australia, the United States, New Zealand and the
            United Kingdom.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><b><font size="2">About CBL&amp; Associates Properties, Inc.</font></b></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2">CBL
            is one of the largest and most active owners and developers of malls and shopping
            centers in the United States. CBL owns, holds interests in or manages 132 properties,
            including 80 regional malls/open-air centers. The properties are located in 27 states
            and total 75.2 million square feet including 2.2 million square feet of non-owned
            shopping centers managed for third parties. CBL currently has thirteen projects under
            construction totaling 1.8 million square feet including Pearland Town Center in Houston
            (Pearland), TX; CBL Center II in Chattanooga, TN; two lifestyle/associated centers,
            eight mall expansions/redevelopments, and one community center. Headquartered in
            Chattanooga, TN, CBL has regional offices in Boston (Waltham), MA, and Dallas, TX.
            Additional information can be found at cblproperties.com.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">
            <i><font size="1">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.</font></i></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"></p>

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