For Immediate Release, May 10, 2004

Sears At Eastdale Mall To Undergo A Major Renovation

Montgomery, Alabama - In conjunction with Eastdale Mall’s overall expansion currently in progress, the Sears store at Eastdale Mall has just kicked-off its own remodeling project. Slated for completion on October 15, 2004 local residents can expect an easier-to-shop, brighter store that offers an expanded selection of merchandise. When the project is complete, the updated Sears store will feature a wider selection of mid-priced appliances and home fashions as well as a broader array of electronics.

To create a more welcoming environment for customers, the store is also undergoing a series of aesthetic changes, including new flooring, new lighting, new fixtures, freshly painted walls and a new exterior finish. The updated exterior will include new entrances with dramatic glass architectural accents, a new color scheme and signage graphics.

Groundbreaking for the new stores is scheduled for Summer 2004 with a projected opening of Summer 2005.

The store’s renovation will be completed in phases, by department, which will allow uninterrupted shopping for Sears customers throughout the remodel. Contemporary new interior elements include a high-tech electronics department with DVD and home movies new to the product line.

“Montgomery is a wonderful community and this remodel demonstrates Sears’ commitment to our customers and the community,” said Shirley Jenkins, store general manager. “We look forward to unveiling the changes in October.”

The Eastdale Mall store is one of more than 100 full-line stores the company will remodel this year.

“We are pleased that Sears will soon debut their brand new look at Eastdale Mall,” said Owen Aronov, President of Aronov Realty Management, Inc. who manages the mall. “Over the years, Eastdale Mall customers in the tri-county area and throughout central Alabama have very much enjoyed shopping at Sears and this extensive renovation will make their store an even more attractive place to shop. Added to the mall’s recently announced expansion, the excitement at Eastdale Mall just continues to grow,” he added.

Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2003 of $41.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, which includes approximately 870 full-line and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through sears.com, landsend.com, and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands’ End brands together — among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.

Eastdale Mall continues to be a major contributor to the River Region economy, employing more than 2,000 people. Over $200 million in annual sales is generated by the development which translates to over $12 million in city and county tax revenue. The shopping center is owned by the Aronov, Lowder and William B. Moore families and is managed and leased by Aronov Realty Management, Inc. 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.