National Amusements and WS Development Celebrate Groundbreaking at Legacy Place

Business Wire, April 10, 2008

675,000 Square Foot Retail Destination Will Feature Leading Anchors, Restaurants, Fashion and Entertainment Tenants

DEDHAM, Mass. -- National Amusements and WS Development today held a groundbreaking ceremony to mark the beginning of construction at Legacy Place, a 675,000 square foot open-air shopping destination featuring a contemporary blend of over 60 of the nation's leading fashion, restaurant and entertainment tenants. Located at the intersection of Route 1 and I-95 in Dedham, MA, Legacy Place will also be home to the new world headquarters for National Amusements.

"This is a very significant day for the Redstone family as we start a new era in our long and memorable history of serving the Dedham community," said Shari Redstone, president, National Amusements. "The name Legacy Place is indicative of how important this project is to our family, and with the fourth generation of the family joining in the business, it is indeed a legacy. I look forward to working with our family, friends and partners at WS Development to bring a new era of shopping and entertainment to the region."

"I am pleased to be part of such an exciting project, and proud to be part of this family legacy," said Brandon Korff, manager corporate development for National Amusements, Shari Redstone's son, and 4th generation of the Redstone family to join the company.

"We're thrilled to work with National Amusements and begin construction on this phenomenal project," said Jeremy Sclar, president, WS Development. "We've spent years thinking, planning, designing, and redesigning to achieve the right architecture, the best tenants, and the most enjoyable experience for the visitor. When it opens, we believe Legacy Place will not only be one of the best shopping and entertainment destinations in New England, but in the entire country."

Legacy Place is packed with powerful anchors, including a 60,000 square foot Whole Foods Market; a 30,000 square foot, two-level L.L.Bean store; one of the nation's top book, music, and movie sellers, Borders; and, offering billiards, bowling, food, and fun, one of Boston's best entertainment venues, Kings.

Also anchoring Legacy Place is Showcase Cinema de Lux, National Amusements' high-end entertainment concept that is designed to enhance luxury and comfort, and leading the way in transforming the movie going experience. The 15-screen theatre will include National Amusements' new premium, reserved-seating concept called Lux Level, which features in-seat dining; and the intimate Lux Level Lounge where patrons can relax before or after the show and enjoy appetizers and beverages, including signature cocktails.

Legacy Place will also have the most exciting mix of tenants found anywhere in Greater Boston. Great restaurants such as Legal Sea Foods, P.F. Chang's China Bistro, Yardhouse, Aquitaine, Ruth's Chris Steak House, and Daily Grill will blend with more than 60 specialty stores. Among these include Anthropologie, Victoria's Secret/Pink, Lucy, Glee, b.good, Banana Republic, National Jean Company, Gap, Bath & Body Works, Levi's, Finale, Clarks, Lucky Brand Jeans, nau, Company C, Green Tangerine Day Spa & Salon, Urban Outfitters, Stil Hus, Stride Rite, Free People, Au Bon Pain, and lululemon athletica.

The architectural design and planning for Legacy Place is the work of Prellwitz Chilinski Associates/PCA of Cambridge, MA (www.prellwitzchilinski.com). The architect for the cinema and for National Amusements' headquarters is spg3 of Philadelphia.

Legacy Place is scheduled to open Summer 2009. For more information, visit legacyplacededham.com

ABOUT NATIONAL AMUSEMENTS

National Amusements, Inc., is a world leader in the motion picture exhibition industry operating more than 1,500 screens in the U.S., U.K., Latin America and Russia. National Amusements delivers a superior entertainment experience in theaters around the world under its Showcase, Multiplex, Cinema de Lux, and KinoStar brands. Based in Dedham, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation.

ABOUT WS DEVELOPMENT

Based in Chestnut Hill, MA, WS Development is one of the largest privately owned retail development firms in the country. Since 1981, WS Development has been a leader in the acquisition, development, management and redevelopment of retail and mixed-use properties. Its diverse portfolio consists of lifestyle centers, power centers, and neighborhood centers, and comprises more than 80 properties in six states totaling over 16 million square feet of retail space. In addition, WS Development has over nine million square feet of retail space under development. For more information, visit www.wsdevelopment.com