For Immediate Release - February 4, 2005

Best Buy Announced As 5th Anchor for Dogwood Promenade

Montgomery, Alabama - Shopping center developer Aronov Realty Management announced recently that Best Buy will join Target, Stein Mart, PetsMart and Kroger Supermarket to anchor Dogwood Promenade, a 300,000+ square foot shopping center located at the intersection of Lakeland Drive and Old Fannin Road in Flowood, Mississippi. The new Best Buy store is scheduled to open this summer.

Part of the popular nationwide chain, the new 31,000 square foot Best Buy store will offer brand-name electronics, home-office products, entertainment software, appliances and related services in a fun and friendly environment. This will be the second Best Buy location in the Jackson metro.

Dogwood Promenade is located directly across Lakeland Drive from Aronov’s Dogwood Festival Market, Mississippi’s only open-air lifestyle shopping center. Since its opening in 2001, Dogwood Festival Market has led the way for explosive retail growth in East Jackson.

“We are excited to bring Best Buy, one of America’s most sought-after retailers, to Dogwood Promenade,” stated Beau Young, Vice President with Aronov Reatly Management, Inc. “Their great new store will round-out the merchant mix we sought for Dogwood Promenade and neighboring Dogwood Festival Market, providing every possible retail category in one convenient shopping venue,” he added.

Jackson’s newest Best Buy will join a 123,700 square foot Target, a 19,100 square foot PetsMart, Jackson’s largest Kroger supermarket, and a 36,000 square foot Stein Mart at Dogwood Promenade. Other retailers will include S&K Menswear, Squire’s Formal Wear, Material Girl, Rue 21, j burran, GNC, Shoe Show, Sally Beauty Supply, Catherine’s, Dress Barn, Kay Jewelers, Backyard Burgers, Zaxby’s, Steak Escape, McDonald’s, Krispy Kreme, Bank Plus, Garfields, and Chick-fil-A. The new center is designed to meet the increased demand for retailing created by new and existing residential developments in East Jackson and Rankin County.

“Every city in the United States would love to have a Best Buy,” stated Flowood Mayor Gary Rhoads. “And we are thankful to both Aronov and Best Buy for their commitment to our market and to Best Buy for joining the great merchants at Dogwood Promenade.”

Mr. Young states that Aronov is continuing to add retailers and restaurants to the center and more announcements will be made at a later date.

Aronov is the largest privately held, full-service real estate company in the Southeast with over 100 properties, and performs acquisition, development, management, leasing and brokerage services for its portfolio and properties owned by third parties. Leasing inquires for Dogwood Promenade may be made to Gary Jones at 334/277-1000 or gary.jones@aronov.com. For more Aronov information, visit www.aronov.com.