Contacts:
Brenda Maysonet
CKPR
(407) 541-0807
bmaysone@ckpr.biz
or
Andrew J. Groveman
Belz Enterprises
(901) 260-7278

BELZ’ ELLIS HONORED WITH DEVELOPERS OF OUTLET CENTERS’ FIRST LIFETIME ACHIEVEMENT AWARD

MEMPHIS, Tenn. (March 21, 2004) – Belz Enterprises’ Special Projects Director, John Ellis, was recently honored with the Developers of Outlet Centers’ (DOC) first Lifetime Achievement Award during a luncheon in conjunction with the “Caucus near Secaucus” leasing convention in New Jersey.

“For nearly 26 years, John has been an invaluable asset to our factory outlet division’s growth,” said Andrew J. Groveman, president of Belz’ Factory Outlet division. “Our company and the factory outlet industry as a whole have benefited enormously from his leadership, vision and devotion.”

Known affectionately as the “Mayor of the Outlet Industry,” Ellis was instrumental in Belz’ efforts to open the nation’s first newly constructed factory outlet mall in Lakeland, Tenn. in 1979. In addition, he is considered a major contributor in the founding of the current concept of factory outlet retailing. Throughout his illustrious 25-year career with Belz Enterprises, Ellis has been involved in the development and leasing of more than five million square feet of retail outlets in 21 locations across the country.

While accepting his lifetime achievement award, Ellis shared his learned wisdom and explained that to succeed, one should: have a sincere interest in others and encourage their success, be fair, be kind and always keep business dealings visible and straight forward.

Ellis was founder and president of DOC, and served on Value Retail News’ (VRN) Advisory Board from 1990-1994. Among his numerous industry awards are the VRN Founders Award and the DOC’s Founders and Leadership Award, both received in 1992. He has also served as a lecturer and contributing writer for many industry publications.

About Belz Enterprises

Headquartered in Memphis, Tennessee, Belz is a leading innovator in real estate development with interests throughout the Southern United States, including Peabody Place Entertainment and Retail Center at 150 Peabody Place. Belz develops, owns and/or manages more than 30 million square feet of industrial/warehouse/distribution centers, shopping centers, office buildings, mixed-use centers and corporate campuses. The company also owns a group of premier hotels, including The Peabody Hotels in Memphis, Orlando and Little Rock. Additional information about Belz is available at www.belz.com.