The Mills Corporation Declares Dividends for Common, Preferred Stock

The Mills Corporation Declares Dividends for Common, Preferred Stock

    Business Editors

    ARLINGTON, Va.--(BUSINESS WIRE)--Jan. 3, 2005--The Mills Corporation (NYSE:MLS) announced that on December 1, 2004, the Board of Directors declared a cash dividend for the fourth quarter of $0.595 per common share. The dividend will be payable on February 1, 2005 to stockholders of record on January 21, 2005.
    Also, on December 1, 2004, the Board of Directors declared dividends on The Mills Corporation's issues of preferred stock for the period beginning on November 2, 2004 and ending February 1, 2005, all payable on February 1, 2005 to stockholders of record on January 21, 2005:

--	The Mills Corporation 9% Series B Cumulative Redeemable Preferred Stock (NYSE:MLS_PrB) - $0.5625 per share
--	The Mills Corporation 9% Series C Cumulative Redeemable Preferred Stock (NYSE:MLS_PrC) - $0.5625 per share
--	The Mills Corporation 8.75% Series E Cumulative Redeemable Preferred Stock (NYSE:MLS_PrE) - $0.546875 per share
--	The Mills Corporation 6.75% Series F Convertible Cumulative Preferred Stock - $16.875 per share

    The Mills Corporation is a self-managed real estate investment trust (REIT) based in Arlington, Virginia that owns, develops, leases, manages and markets a portfolio of 38 retail and entertainment destinations totaling approximately 47 million square feet. Currently, the Company has six projects under construction or development around the world. The Company's Internet address is www.themills.com.

    Statements in this press release that are not historical may be deemed forward-looking statements within the meaning of the federal securities laws. Although The Mills Corporation believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained and it is possible that our actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. The Mills Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K for a discussion of such risks and uncertainties.

--30--RM/ph*

CONTACT: The Mills Corporation, Arlington Investor Relations Noam Saxonhouse, 703-526-5093 or Corporate Communications David Douglass, 703-526-5252

KEYWORD: VIRGINIA INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION BANKING DIVIDEND SOURCE: The Mills Corporation

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