BELK, CHEDDAR'S CASUAL CAFE TO JOIN JCPENNEY, SAM MOON AS INITIAL RETAILERS IN ALLIANCE TOWN CENTER IN FORT WORTH, TEXAS

Fort Worth, Texas — Trademark Property Company and Hillwood have reached an agreement with Belk, Inc., the nation’s largest privately owned department store company, and Cheddar’s Casual Cafe to join JCPenney and Sam Moon at Alliance Town Center. The 300-acre Alliance Town Center is located along the east side of Interstate 35W between Heritage Trace Parkway and North Tarrant Parkway in Fort Worth, Texas.

Cheddar’s, along with JCPenney, will open in Fall 2006. Belk and Sam Moon will open in Fall 2007. Alliance Town Center also includes plans for the development of a 73-acre HCA medical campus.

Alliance Town Center will include the first Belk store in Tarrant or Dallas county, the first Cheddar’s in Fort Worth, one of the first of JCPenney’s stand-alone prototypes, and Sam Moon’s first stores in Tarrant County. The JCPenney, currently under construction, has expanded to 103,000 square feet to add several name brand product lines, including Sephora.

In addition Alliance Town Center is immediately connected by hike and bike trails to adjacent residential areas.

The planned 96,000-square-foot Belk store will be the company’s tenth location in Texas.

“We’re excited and pleased to open a new Belk store to serve Fort Worth and Northeast Tarrant County,” said Tim Belk, chairman and CEO, Belk, Inc. “The store’s design, merchandise offerings and customer services are being planned to meet the shopping needs of this area. We will offer focused assortments of the leading brands of apparel, cosmetics, accessories and home merchandise for the whole family. The new store will feature the latest in interior design, floor layout, lighting, merchandise presentation and décor in order to provide a convenient and enjoyable shopping experience for our customers. Belk has an outstanding reputation for providing customers with the best in fashion, value, quality and prompt, friendly service. We look forward to continuing this tradition in Fort Worth.”

Cheddar’s, which began in Arlington, Texas in 1979, has 23 locations in Texas and eight in the Dallas-Fort Worth area. The company will build a 7,800 square-foot restaurant with visibility from Interstate 35W.

“Cheddar’s is looking forward to having its first Fort Worth store in the Alliance Town Center,” said Greg Good, chief operating officer of Cheddar’s. “We expect to have one of the highest customer counts of any restaurant in the Metroplex.”

Phase I of Alliance Town Center includes 600,000 square feet of retail space, anchored by JCPenney, Belk and Sam Moon. Active negotiations are ongoing with additional major anchors, several junior anchors that will occupy an additional 240,000 square feet, as well as restaurants and small retailers. Future phases will include a grocery-anchored center and a town center component with specialty retail integrated with office or residential space.

“Alliance Town Center has achieved tremendous momentum as it is now recognized as the prime retail location along Interstate 35W in north Fort Worth,” said Terry Montesi, president and CEO of Trademark Property Company. “Our expectation is to have 1 million square feet of retail committed to Alliance Town Center by the end of next year.”

Alliance Town Center will provide a multi-use, village-like setting in the 17,000-acre AllianceTexas development. The town center ultimately will house more than 2 million square feet of retail, office, residential, and entertainment space, along with the medical campus. The plan is consistent with the city of Fort Worth’s increased focus on multiple uses within new developments.

The development is at the heart of one of the fastest growing residential areas in North Texas, with a 15 percent annual growth rate and more than 40,000 single-family lots either recently developed or platted within 12 minutes of the site.

“Alliance Town Center stands out because it will offer an outstanding retail mix and atmosphere,” said Darrell Lake, senior vice president of Hillwood Properties. “The store concepts are all new to this area, while the inclusion of the medical campus and the trail connection to the nearby neighborhoods is what makes this project truly unique.”

Alliance Town Center will tie into more than 15 miles of existing hike and bike trails in Hillwood’s nearby Heritage and Park Glen communities. The hilltop location of Alliance Town Center also will offer restaurant patrons a dynamic view of the downtown Fort Worth skyline.

Based in Dallas, Cheddar’s Casual Cafe operates 52 company-owned and franchised stores across the country. Its restaurants are recognized for its homemade food and the loyalty and customer service of its employees. Cheddar’s provides made-from-scratch food in an upscale dining atmosphere at an astonishing value. Cheddar’s restaurants average 7,800 square feet and seat approximately 250 diners.

Charlotte, N.C.-based Belk, Inc. operates 277 fashion department stores in 16 states. The company was founded in 1888 by William Henry Belk in Monroe, N.C. and continues to operate under the third generation of Belk family leadership. Belk employs approximately 23,000 associates in its stores, corporate and division offices and distribution center.

In addition to name-brand apparel, cosmetics and home furnishings, Belk offers exclusive private brand merchandise, including Madison Studio ladies sportswear, handbags and shoes; Kim Rogers jewelry; Lyle & Scott men’s sportswear; Red Camel apparel for young men; Nursery Rhyme and J. Khaki apparel for children; and Biltmore Estate For Your Home and Home Accents home merchandise.

Alliance Town Center is a partnership between Fort Worth-based Trademark Property Company and Fort Worth-based Hillwood. Stan Lottridge and Aaron Ashmore of UCR are handling the leasing of Alliance Town Center for the partnership.

The 17,000-acre AllianceTexas development consists of the commerce centers of Alliance, the corporate campuses and golf courses of Circle T Ranch and the high-tech mixed-use community of Heritage. AllianceTexas now houses more than 5,200 single-family homes and 140 companies that have built 25 million square feet and created 24,000 jobs. The development lies within four cities: Fort Worth, Roanoke, Haslet and Westlake and two counties: Tarrant and Denton.

Founded in 1991, Fort Worth-based Trademark Property Co. has developed or redeveloped nearly 5 million square feet of retail and mixed-use space. Trademark has become one of the premier outdoor retail and mixed-use developers in the country. For information on exceptional retail and mixed-use properties from Trademark, visit www.trademarkproperty.com.

Hillwood, a Perot company, is ranked as one of the Top 10 commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company is recognized for its high-profile projects and public-private ventures that bring tremendous value to its customers and partners. In addition to AllianceTexas, Hillwood is best known for its development of the $420-million American Airlines Center and Victory district near downtown Dallas and the 2,000-acre AllianceCalifornia development in San Bernardino.

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Media Contacts:

Steve Pernotto

Executive Vice President

Belk, Inc.

(704) 426-1890

[email protected]

Cheddar’s Custom Cafe

Rick Payne

(214) 596-6707

[email protected]

Terry Montesi