FOR IMMEDIATE RELEASE

VILLAGE AT LEESBURG ANNOUNCES CAPITAL IMPROVEMENTS

LEESBURG, Va. (October 1, 2012) – Today, the Village at Leesburg announced a capital improvement program to further enhance the vibrant, outdoor mixed use center, conveniently located at Route 7 and Crosstrail Blvd. The center-wide improvements will be ongoing and are expected to be completed this fall. A children’s play area will be installed in front of Sprint and Salon Montage in October. The playscape will feature PlayTime custom-made molded nature landscapes and characters. String lights have added a festive touch to the breezeways by Noodles & Co. and Pinkberry. The fountain area next to Travinia Italian Restaurant and in front of Faang Thai Restaurant underwent a major renovation, including adding brick to the existing seating area and adding decorative lights from a new light pole to a trellis. Other additions to the center will include enhanced wayfinding signage featuring easier directions to retailers along Village Market Blvd., between Wegmans and Cobb Theatre, parking, exits and other center focal points. “We’re really excited about all the improvements to the center,” said Scott McCarthy, general manger of Village at Leesburg. “These updates will only enhance our guests’ shopping experience at Village at Leesburg, as well as help customers find our great lineup of merchants easier.”

Village at Leesburg is a vertically-integrated, four-story village which encompasses 57 acres and features approximately 520,000 square feet of retail space, combined with 150,000 square feet of office product and 335 luxury multi-family residences. A Cypress Equities company* is developing the commercial components of the project and Kettler is developing the residential component. The Carlyle Group is the lead equity partner in the development and KLNB Retail is handling the leasing of the retail sections.

The center includes a roster of 44 retailers now open including Wegmans Food Markets, LA Fitness, Altar’d State, AT&T, Charming Charlie, Coldwater Creek, Crystal Brite Cleaners, Eggspectation, Faang Sushi & Thai Restaurant, Finnegan’s Sports Bar & Grill, Firebirds Wood Fired Grill, Flame Kabob, Frilly Frocks, Hamilton’s Sofa & Leather Gallery, Hour Eyes, Katie’s Nails & Spa, King Pinz, Leisure Fitness, Massage Envy, Neibauer Dental Care, Noodles & Company, Plow & Hearth, Potomac River Running, Salon Montage, Sleepy’s, Sprint, Swim U, The Dandelion Patch, Tiny Toes Dance Academy, Travinia Italian Kitchen, Verizon Wireless, Pinkberry, Cobb Village 12 Cinemas and Wells Fargo Bank.

About Cypress Equities

Cypress Equities companies* (Cypress) were first conceived in 1995 and have since established a national reputation synonymous with the premier development, operation and management of destination-class retail and mixed-use properties throughout the U.S. Historically, Cypress has developed and/or managed more than 12 million square feet and currently is developing and/or managing more than 7.5 million square feet of retail, office, residential and automotive real estate. Today, there are six Cypress Equities offices throughout the U.S., including Dallas (headquarters), New York, San Francisco, Chicago, Atlanta and Fort Lauderdale. Visit www.cypressequities.com for more information.

* The Cypress Equities name, logo and other marks are trademarks and service marks being licensed to independent operating companies by CE Brands, LLC. Any particular obligation, service or product is the sole responsibility of the specific entity that incurs such obligation or supplies such service or product.

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For additional information: Randa McMinn Cypress Equities 214-561-6007