Movie News

Muvico To Develop 16-Screen Megaplex At Boynton Beach Mall

INDIANAPOLIS, IN (September 23, 2004) - Simon Property Group, Inc. (NYSE:SPG) and Muvico Theaters, Inc. announced today that Muvico Theaters will build a 16-screen megaplex theater at Simon's Boynton Beach Mall in central Palm Beach County. Located on Congress Avenue between Boynton Beach Blvd. and Gateway Blvd. in Boynton Beach, the 1.2 million-square-foot mall features anchors Burdines, Dillard's, JC Penney and Sears and approximately 160 small shops and restaurants.

Muvico's 16-screen movie theater—consisting of 78,000 square feet—will feature its signature blend of exciting themed architecture and the same innovative amenities and services that have long-ranked high among its current movie-goers throughout Florida, Maryland and Tennessee. In addition to stadium seating and wall-to-wall screens, Muvico auditoriums feature 24-inch wide reclining seats and 46" row spacing to offer enough room to walk between aisles and Dolby digital sound.

With a total seating capacity projected at approximately 3,800 seats, this megaplex will also offer valet parking and the ability to buy and print reserved seat movie tickets on-line at www.muvico.com. Muvico’s expanded concession menu will provide not just soda, popcorn and candy, but also freshly prepared lite meals such as crispy chicken breasts, fresh baked pizza, and popcorn shrimp plus curly fries and ice cream.

“The city of Boynton Beach has had a long and successful relationship with Simon Property Group at our Boynton Beach Mall,” said Jerry Taylor, mayor of the city of Boynton Beach. “We are looking forward to a new movie venue at Boynton Beach Mall for our citizens and visitors. This will greatly enhance the business activity at the mall and surrounding businesses.”

" We very much look forward to expanding our premier movie-going experience within the Palm Beach County community," said Hamid Hashemi, president of Muvico Theaters. "Designed for movie-goers of all ages, the new theater will feature grand themed architecture, innovative amenities and state-of-the-art presentation technology underscored by our award-winning guest service, all in perfect concert with Simon's visionary approach for its prime Boynton Beach property.”

For parents, Muvico takes amenities one step further: its exclusive on-site children's playroom that is supervised by teachers and assistants returns spontaneity to movie-going parents who want to relax and enjoy a film hassle-free without a frantic—and often unsuccessful—“last-minute” search for an at-home babysitter. The playroom features a fun, “kid friendly” themed environment that includes such amenities as a computer zone, a reading corner, an arts and crafts space, a science area, a free play spot and assorted play activity areas.

“This Muvico theater megaplex will be a great addition to Boynton Beach Mall,” said John Albright, vice president of development at Simon Property Group. “We’re delighted to welcome a company with the stature of Muvico into this project.”

Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership, development and management of income-producing properties, primarily regional malls and community shopping centers. Through its subsidiary partnerships, it currently owns or has an interest in 244 properties in North America containing an aggregate of 188 million square feet of gross leasable area in 37 states plus Canada and Puerto Rico. The Company also holds interests in 48 assets in Europe (in France, Italy, Poland and Portugal). In June 2004, Simon Property Group announced the acquisition of Chelsea Property Group (NYSE: CPG), which will add 60 Premium Outlets? and other shopping centers containing 16.7 million square feet in 31 states and Japan. The transaction is subject to approval by Chelsea's shareholders, as well as customary closing conditions, and is expected to close in October. Additional Simon Property Group information is available at www.simon.com.

Fort Lauderdale-based Muvico Theaters currently operates 12 theaters with 233 screens in Florida, Maryland and Tennessee with 126 additional screens in various stages of development across the southeastern and mid-Atlantic United States