FOR IMMEDIATE RELEASE

SWEET DEAL FOR HAMPTON INN AT PEABODY PLACE

Candy Bouquet and Fat City Beignets Now Open at Hampton Inn

MEMPHIS, Tennessee (June 16, 2003) - The two newest shops off of Third and Peabody at the Hampton Inn at Peabody Place have a common ingredient in their recipes for success - sugar.

Candy Bouquet and Fat City Beignets have opened recently in the Hampton Inn in downtown Memphis. The two new sweet shops offer a variety of treats for hotel guests, downtown workers and Peabody Place Entertainment & Retail Center shoppers.

"The addition of Candy Bouquet and Fat City Beignets complements the variety of shops, dining and entertainment at Peabody Place," said Andy Groveman, senior vice president of Belz Enterprises. "These delightful new stores add to the dynamic growth and vitality of downtown Memphis."

Candy Bouquet specializes in making and delivering colorful bouquets of candy for all occasions. Bouquets are promoted as a gift-giving alternative to flowers. Frances Turner manages the family-owned franchise, one of than 600 stores in 45 countries. In addition to her saccharine arrangements, Turner stocks a wide variety of specialty candy including praline, turtles and a line of boxed chocolates for individual purchase. Candy Bouquet also will feature nostalgic candy that can take shoppers back to sweet childhood days.

Open in Memphis since October 2001, Candy Bouquet recently moved to the downtown location to enhance its visibility. "As we expand our business, we are excited to be located in the most vibrant part of the city - Peabody Place," said Turner of the new location. Candy Bouquet is currently open Monday through Thursday from 11 a.m. to 6 p.m.; Friday and Saturday 11 a.m. to midnight; Sunday afternoon. For more information or to order a candy bouquet, call (901) 529-8669 or visit www.candybouquetofmemphis.com

After six years as a child psychologist in Mississippi, Abraham Bravo and his wife came to Memphis to open Fat City Beignets. The shop is open long hours to accommodate Memphians' cravings for the sugar coated French doughnuts from breakfast to late night. A native of New Orleans, which is the home of the sugary indulgence, Bravo has perfected the art of beignet making. His recipe is the result of a trial-and-error quest for perfection.

"Finding the right recipe for Fat City Beignets took a lot of practice," Bravo said. "I tried nine recipes before settling on this one. We won't serve anything less than the perfect beignet."

In addition to beignets, Fat City Beignets has a full menu of both hot and cold po-boy sandwiches made on genuine Gambino's bread shipped fresh from New Orleans. The shop offers coffees and beverages, daily lunch specials and catering in downtown Memphis. Fat City Beignets opens daily at 8 a.m. The store closes Monday at 5:00 p.m.; Tuesday at 7:00 p.m.; Wednesday and Thursday at 10:00 p.m.; Friday and Saturday at 3:30 a.m.; and Sunday at 2:00 p.m. For more information, call (901) 526-9775.

About Belz Enterprises

With headquarters in Memphis, Belz Enterprises is a multi-faceted real estate company with more than 30 million square feet of developed property including more than 40 shopping complexes, ranging from community shopping centers to regional malls. Belz developed and manages Factory Outlet Worlds in Lakeland and Pigeon Forge, Tenn.; Las Vegas, Nev.; St. Augustine, Fla. and Orlando, Fla., where the company also operates the Belz Designer Outlet Centre. In 2001, the firm opened Belz Factory Outlet World-Puerto Rico, the first enclosed factory outlet mall on Puerto Rico. In addition, Belz operates the 100 Oaks Mall in Nashville, Tenn. The company also has developed and owns a group of premier hotels, including the flagship Peabody Hotels in Memphis and Orlando and the recently opened Peabody Hotel n Little Rock, Ark.