塔博曼华夏柏欣新闻稿

TAUBMAN TO ACQUIRE CHINESE RETAIL
PROPERTY CONSULTANCY, TCBL

New company Taubman TCBL well-positioned to capture retail real estate opportunities in China

BEIJING, August 8, 2011 - - Taubman Centers, Inc. (NYSE: TCO)
and TCBL Consulting Limited today announced a definitive agreement whereby Taubman Asia is acquiring a 90% controlling interest in TCBL, a leading Beijing-based retail real estate consultancy with
more than 200 staff across seven offices in mainland China. The
new company, Taubman TCBL, will combine the local insights and network of TCBL with the global industry expertise and reputation of Taubman Centers.

Founded in Bloomfield Hills, Michigan, Taubman Centers has been a pioneer and leader in creating extraordinary retail environments for shoppers, retailers, communities, and investors over its 61-year history. Its portfolio of shopping malls is the most productive in
the US, with sales per square foot averaging US$600 for the trailing 12 months ended June 30, 2011. Through its Taubman Asia subsidiary, which is based in Hong Kong, it is extending the company’s retail real estate expertise to international markets such as China.

Under the terms of the agreement, the total consideration for the transaction is US$24 million, subject to final closing adjustments.
The transaction has been approved by the board of directors of each company and is expected to close by October 2011, subject to government approval and necessary registration.

After the acquisition, the new company will be named Taubman TCBL with its China headquarters to remain located in Beijing. René Tremblay, president of Taubman Asia, will serve as chairman of Taubman TCBL, while Thomas Tam – currently TCBL’s joint
managing director – will be appointed president and CEO of
Taubman TCBL. Lawrence Wu, current joint managing director of TCBL, will join the Taubman TCBL board. Taubman TCBL will serve as a platform through which Taubman’s future investments in
mainland China will be made, giving Taubman Asia a 90% ownership interest in these investments.

“China is fast developing into one of the world’s leading consumer markets, with exciting and diverse retail opportunities,” said Mr. Tremblay. “Our investment in TCBL is a unique opportunity for
Taubman to accelerate investment in the Chinese market, creating further value for our retailers and investors.

“Taubman’s 61-year heritage and track record in developing and managing high-qualityshopping centers, along with TCBL’s in-depth knowledge and understanding of the Chinese market, position
Taubman TCBL as the preferred partner of choice in retail property
development in mainland China. We are optimistic that we will
have an announcement in China in the next 12 months,” added
Mr. Tremblay.

“We welcome this opportunity to partner with Taubman and its
commitment to developing and contributing to our rapidly growing business in China, said Mr. Tam. “Our team and clients will benefit greatly from Taubman’s global network of retailers, industry
knowledge, leadership, and development experience.”

About TCBL

Established in 2005, TCBL Consulting Limited provides retail-focused real estate consulting services to property developers, retailers and institutional investors in planning, research, leasing, marketing, operations, asset management and investment services in China. The
company has been undergoing rapid expansion in parallel with the vigorous development of China’s retail property market, with over 200 staff currently in its seven offices in China, including Beijing, Chengdu, Chongqing, Guangzhou, Shanghai, Shenzhen and Shenyang.
TCBL’s international client base includes JP Morgan Asset Management Real Assets (Asia) Ltd., Pramerica, Grosvenor, Aetos, Morgan Stanley Real Estate Fund (MSREF), and Angelo Gordon & Co., to name just a few. For further information, visit www.tcbl.com.cn.

About Taubman Asia

Taubman Asia, headquartered in Hong Kong, was formed in 2005 and provides leasing and management services for IFC Mall in Yeouido, Seoul, South Korea. Taubman Asia is engaged in projects that leverage Taubman’s strong retail planning, design and operational capabilities.

About Taubman Centers

Taubman Centers is a real estate investment trust engaged in the development, leasing and management of regional and super regional shopping centers. Taubman's 26 U.S. owned, leased and/or managed properties, the most productive in the industry, serve major markets
from coast to coast. Taubman Centers is headquartered in Bloomfield Hills, Michigan and its Taubman Asia subsidiary is headquartered in Hong Kong. For more information about Taubman, visit www.taubman.com.

References in this press release to “Taubman Centers,” “Taubman Asia, “company” or “Taubman” mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities. Business is
actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements,

Taubman To Acquire Chinese Retail Property Consultancy TCBL/3
even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the continuing impacts of the U.S. recession and global credit environment, other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, unique risks related to opportunities in Asia, and adverse changes in the retail industry. Other risks and uncertainties are discussed in the company's filings with the Securities and Exchange Commission including its most recent Annual Report on Form 10-K.

CONTACT:
Karen Mac Donald Taubman, Director, Communications 1-248-258-7469 kmacdonald@taubman.com
Barbara BakerTaubman, Vice President, Investor Relations 1-248-258-7367 bbaker@taubman.com
Pamela So Weber Shandwick 852-2533-9916 pso@webershandwick.com