FOR IMMEDIATE RELEASE

BELZ FACTORY OUTLET WORLD – PIGEON FORGE HOSTS SPRING TENT SALE AND FUNDRAISER

Belz to Donate $1,500 to the Pigeon Forge Middle School

(Pigeon Forge, TN) April 30, 2002 — Belz Factory Outlet World – Pigeon Forge will host a Spring Tent Sale and Fundraiser from Friday, May 24th through Monday, May 27th.

Underneath a massive tent in the mall parking lot, shoppers will find specially-marked down merchandise that cannot be found inside. Participating stores include Mad Hatter, Hushpuppies, Carter's, Burlington Brands, Royal Doulton, Buster Brown, Fullerbrush and Angel's Dolls & Gifts.

Belz Factory Outlet World – Pigeon Forge will also donate $1,500 to the Pigeon Forge Middle School for the purchase of educational supplies.

"We hope shoppers will benefit from all the great savings underneath the tent while supporting the students of Pigeon Forge Middle School," said Andrew J. Groveman, President of the Factory Outlet Division of Belz Enterprises.

In celebration of Memorial Day, Belz Factory Outlet World – Pigeon Forge, located at 2655 Teaster Lane, will be open from 10 a.m. to 9 p.m. Sunday and 9 a.m. to 7 p.m. on Monday. Store hours are 9 a.m. to 9 p.m. Tuesday through Saturday.

With headquarters in Memphis, Belz Enterprises is a multi-faceted real estate company with more than 25 million square feet of developed property including over 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 has also developed and owns a group of premier hotels, including the flagship Peabody Hotels in Memphis and Orlando.