MONTGOMERY, AL, April 25 - Aronov Realty Management, Inc., a Montgomery, Alabama-based real estate developer, today broke ground for White Stone Center, a new community shopping center located in Alabaster, Alabama. The new 70,400 square foot shopping center, designed to accommodate the growing trade area, will be anchored by a 44,300 square foot Publix Super Market and will feature other national, regional and local retailers that provide a complement of everyday goods and services.

Alabaster is located in the center of Shelby County, which is one of the most dynamic growth areas of the state of Alabama. White Stone Center will be located at the intersection of Highway 119 and County Road 26. The center will serve a trade area population of nearly 40,000.

“Bringing customers back day after day for the things they want and need is what this shopping center is designed to achieve,” said John Argo, Vice President of Retail Development for Aronov. “With the addition of a new Publix to the area, along with a selection of other retailers, we believe White Stone Center will be the area' s favorite place to shop.”

Site preparation and construction for White Stone Center is now underway with a projected opening in March 2004.

“Publix Super Markets is looking forward to bringing the Publix shopping experience to Alabaster,” stated Brenda Reid, Community Affairs Manager for Publix Super Markets. “We are committed to providing excellent customer service, clean, well lit stores and fresh products every day. We want to be the super market of choice in Alabaster and will work hard to earn the business.”

Founded in 1930, Publix Super Markets is the largest and fastest-growing employee-owned supermarket chain in the United States. It is one of the 10 largest-volume supermarket chains in the country, with 2002 retail sales of $ 15.9 billion. Currently, Publix operates 755 supermarkets and employees more than 119,500 people. Headquartered in Lakeland, Florida, Publix operates stores in Florida, Georgia, South Carolina, Alabama, and Tennessee. For more information about Publix, visit www.publix.com.

White Stone Center is developed, managed and leased by Aronov Realty Management, Inc. Aronov is the largest privately-owned, fully diversified real estate company in the Southeast with over 100 properties, and performs acquisitions, development, management, leasing and brokerage services for its portfolio and property owned by third parties. Leasing inquiries for White Stone Center may be made to Craig Waters at Aronov at 334-277-1000 or craig.waters@aronov.com.

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