MLS Mills Corp

The Mills Corporation (NYSE:MLS) announced that the Board of Directors has declared a cash dividend for the second quarter of $0.251 per common share. The dividend will be payable on August 1, 2006 to stockholders of record on July 21, 2006. The Board of Directors also has declared dividends on the Company's preferred stock for the period beginning May 2, 2006 and ending August 1, 2006, all payable on August 1, 2006 to stockholders of record on July 21, 2006: -- 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 Redeemable Preferred Stock (NYSE:MLS_PrF) - $16.875 per share; and -- The Mills Corporation 7.875% Series G Cumulative Redeemable Preferred Stock (NYSE:MLS_PrG) - $49.22 per share, which is equivalent to $0.4922 per depositary share. The Mills Corporation, based in Arlington, Virginia, is a developer, owner and manager of a global real estate portfolio including regional shopping malls, retail and entertainment centers, and international recreation, leisure and retail centers. The Mills portfolio currently includes 42 properties in the U.S., Canada and Europe, totaling approximately 51 million square feet of gross leasable area. In addition, The Mills is currently developing, re-developing or constructing various projects around the world. The Mills is traded on the New York Stock Exchange under the ticker: MLS. For more information, visit the company's website at 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 and The Mills Limited Partnership believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they can give no assurance that their expectations will be attained and it is possible that their actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. The words "will," "plan," "believe," "expect," "anticipate," "should," "target," "intend," and similar expressions identify forward-looking statements. The Mills Corporation and The Mills Limited Partnership undertake 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 Mills Corporation's and The Mills Limited Partnership's various filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, report on Form 10 and annual report on Form 10-K for a discussion of such risks and uncertainties.