Dillard's Will Open in Rayzor Ranch Town Center in North Texas

Located in a community that includes the University of North Texas and Texas Woman's University, Rayzor Ranch Town Center has gained important momentum since RED purchased the property in mid 2010. Dillard's had been named in early plans for the shopping center; however these plans were shelved in 2008 as retailers and developers retrenched amidst global economic challenges. RED has injected new energy into the Rayzor Ranch retail developments, and the Dillard's announcement is the first of many more expected retail names for the Town Center project.

More about Rayzor Ranch

In all, the master-planned community will include retail, residential, office, hotel, medical and entertainment uses in one, cohesive pedestrian-friendly urban village. Rayzor Ranch will offer the largest super-regional retail development between Dallas andOklahoma City.

About Dillard's

Dillard's, Inc. (DDS: NYSE) is one of the nation's largest fashion apparel, cosmetics and home furnishing retailers. The Company's stores operate with one name, Dillard's, and span 29 states. Dillard's stores offer a broad selection of merchandise, including products sourced and marketed under Dillard's exclusive brand names.

About RED

A wholly integrated commercial real estate company, RED maximizes asset value and performance for its high-quality retail and mixed-use portfolio that comprises 35 properties totaling more than 17 million square feet in 11 states. RED is a preferred partner for national retailers and investors, as well as for third-party property owners who turn to RED for its expertise in remerchandising and repositioning properties to improve profitability and appeal. A privately held company headquartered in Phoenix, RED builds on its development capabilities and is an active acquirer of existing properties.

<< Page 1