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Steve Kieras to Head Taubman Development
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01/16/2005

BLOOMFIELD HILLS, Mich., July 9 Taubman Centers,Inc. (NYSE: TCO) today announced the appointment of Steve Kieras as senior vice president, development. Kieras, a 14-year veteran of the Taubman development department, will assume his new responsibilities September 1, with the full transition to be completed by the end of the year.

Kieras succeeds John Simon, who is retiring from the company to pursue other interests after 27 years of service, including nine years as head of the development department. During his distinguished career at Taubman, Simon contributed to the development and expansion of over 20 centers and recently completed a major reorganization of the development group to streamline the predevelopment process. He leaves the company with a strong pipeline of new projects.

"The hallmark of our company has always been innovative major retail development," said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. "Steve has outstanding and proven skills and is one of our most capable executives. I am confident that he will build on our tradition of creating first class shopping centers."

A native of Chicago, Kieras graduated from Northwestern University where he majored in environmental engineering. Later, he earned an M.B.A. from the University of Michigan. He gained six years experience at the U.S. Environmental Protection Agency and nine years of experience developing a variety of commercial, residential and resort projects before joining the Taubman organization in 1990 as director, development. Kieras was named vice president, development in 1998 and was promoted to group vice president,development in 2001. His accomplishments at Taubman include serving as project leader for many of Taubman's recent developments including MacArthur Center (Norfolk, Va.), which opened in 1999, The Mall at Millenia (Orlando, Fla.), which opened in 2002, Stony Point Fashion Park (Richmond, Va.), which
opened September 2003, and Northlake Mall (Charlotte, N.C.) which is currently under construction and opens September 15, 2005. During his career at Taubman, he has also contributed significantly to the company's predevelopment efforts.

"Developing successful shopping venues requires ision, skill and perseverance," said Kieras. "With the best team in the business, I am confident that we will continue to deliver high quality, high return opportunities to fuel the company's external growth. I'm looking forward to leading this effort."

Simon has agreed to a consulting arrangement with Taubman through December 31, 2006. In addition he has agreed to a non-compete provision through January 15, 2008.

Taubman Centers Inc., a real estate investment trust, owns, develops, acquires and operates regional shopping centers nationally. Taubman Centers currently owns and/or manages 31 urban and suburban regional and super regional shopping centers in 13 states. Taubman Centers is headquartered in Bloomfield Hills, Mich.
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