FCY Forest City Enterprises Senior Note

RANCHO CUCAMONGA, Calif., Aug. 26 /PRNewswire/ -- Victoria Gardens makes a big catch with the addition of Southern California's first Bass Pro Shops Outdoor World, the premier destination outdoor retailer, it was announced today by developer Forest City California. Construction of the 180,000- square-foot store is scheduled to begin in the next six months and is anticipated to open for business in 2007. "We are very excited to bring Southern California's first Bass Pro Shops Outdoor World to Victoria Gardens," said Mike Wethington, general manager, Victoria Gardens. "This adds another element of quality retail to Victoria Gardens and reflects the area residents' celebration of outdoor living in a style embraced by Bass Pro Shops." Regarded as part museum, part art gallery, part education, conservation and entertainment center, the Bass Pro Shops at Victoria Gardens will offer the same signature features of other Bass Pro Shops Outdoor World stores nationwide. Approximately 70 percent of the facility will house a huge selection of fishing, hunting, camping, and marine items, plus clothing, gift and footwear departments. The store will also feature the complete line of world-famous Tracker(R) and Nitro(R) boats in an expansive showroom and boat service center. Each Bass Pro Shops store is unique in its architectural design, and the Victoria Gardens store promises to be an eye-opener as well. In addition to its rustic interior and lodge-style exterior, the store will include features such as fishing demonstrations from an indoor aquarium stocked with native fish, an outdoor education area, a variety of eco-islands, and a prominent fauna and flora element. The Bass Pro Shops at Victoria Gardens is projected to generate more than $1 million a year in sales tax revenue for the city of Rancho Cucamonga and provide up to 300 jobs for local residents. The Rancho Cucamonga location is expected to draw shoppers from the large number of Inland Empire residents, as well as patrons from throughout southern California and beyond, partly due to the store's prime location at the I-15 and I-210 freeways and because of the high concentration of hunters and anglers in California. "This is an exciting moment in the ongoing development of Victoria Gardens and Rancho Cucamonga," commented Bill Alexander, mayor, City of Rancho Cucamonga. "The ability to attract a prestigious national retailer like Bass Pro Shops further validates the City's appeal as a premier business location." Headquartered in Springfield, Missouri, Bass Pro Shops currently has 27 locations in 17 states across the United States and one location in Canada. The stores attract over 75 million visitors a year. For more information on Bass Pro Shops stores, products and events, visit their web site http://www.basspro.com/. Victoria Gardens is a 1.3-million-square-foot, open-air, regional lifestyle center mixing high-end retail, fine restaurants, entertainment venues, cafes, professional offices, housing, and civic and cultural services situated within twelve blocks. The center offers countless experiences with more than 120 upscale shopping establishments arranged in three sectors, each with a distinct retail focus taking the concept of lifestyle centers to the next level. It was developed by Forest City California, a Los Angeles-based real estate developer since 1969 and Lewis Retail Centers, based in Upland, California, a member of the Lewis Group of Companies, which is one of the nation's largest privately held real estate organizations. Forest City California is a division of Forest City Enterprises, Inc. (NYSE:FCY), a $7.4 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, acquisition and management of mixed-use projects, retail centers, apartment communities, office buildings and land development projects throughout the United States. DATASOURCE: Forest City California CONTACT: Nancy McCann of Forest City California, +1-216-416-3004, or ; or Leslie Resnik of Liggett-Stashtower PR, +1-216-373-8314, or , for Forest City California Web site: http://www.basspro.com/

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