Time Warner Center Grand Opening to Celebrate New York City's Newest Landmark

February 4, 2004

The Related Companies, Time Warner and Apollo Real Estate Advisors to Host February 4th Preview Gala for Columbus Circle Development

New York - Time Warner Center, the new 2.8 million square foot complex at Columbus Circle, celebrates its grand opening with a black-tie gala event hosted by The Related Companies, Time Warner, and Apollo Real Estate Advisors on Wednesday, February 4th.

The event, to be held within Time Warner Center's soaring 150 foot high Great Room, will feature live performances by Cirque du Soleil, Jewel, Marc Anthony and the Jazz at Lincoln Center orchestra and will be hosted by The Daily Show's Jon Stewart and CNN's Paula Zahn. The evening will offer VIP and celebrity attendees an advanced taste of the complex's extraordinary selection of food and cocktails, as well as a preview of its multi-level retail component known as The Shops at Columbus Circle.

Announcing the event, Stephen M. Ross, chairman and CEO of The Related Companies, one of the project's development partners, stated, "We are thrilled to open the doors to the Time Warner Center and to celebrate its emergence as New York City's new landmark for the 21st Century. Located in one of Manhattan's most prominent locations, Columbus Circle, this development offers unparalleled Central Park views combined with a dynamic mix of commercial, residential, retail and entertainment components."

William L. Mack, a development partner and a co-founder and managing partner of Apollo Real Estate Advisors, LP, continued, "The successful completion of this project is testament to the continued vitality of New York and to the future of the city's newest cultural and lifestyle destination. We are confident that the success of this project will continue to draw the attention and support of the world's business, retail and residential communities for years to come."

Open to the public beginning February 5th, The Shops and The Restaurant Collection will consist of retail, food and beverage, and entertainment programming totaling 350,000 square feet of leasable space. Together with Jazz at Lincoln Center's three performance halls, this world-class destination provides New York's Westside with 500,000 square feet of dynamic restaurant, retail and entertainment uses.

The complex's seven level unique mix of over 40 luxury and specialty retailers along with five world-class restaurants and a park view "one of a kind" luxury bar, will offer visitors to this destination an impressive shopping and dining experience. Major retailers to open at The Shops include Hugo Boss; Joseph Abboud; A

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