Edens & Avant’s Brausch Named Chair-elect of Worldwide Accounting Organization

April 10, 2008

COLUMBIA, SC – April 10, 2008 – Edens & Avant is pleased to announce John M. Brausch, Vice President – Property Operations Controller, has been named Chair-elect of the Institute of Management Accountants (IMA). With close to 65,000 members, the IMA is the world’s leading organization of accounting and finance professionals and the organization through which the Certified Management Accountant (CMA®) program is administered.

“John is a very talented and accomplished leader in his field,” commented Edens & Avant Chief Financial Officer, Jason Tompkins. “He has been key in building out Edens & Avant’s property-level accounting group and, consistent with the IMA’s charter, has positioned the group to drive significant operational value.”

A member of the IMA National Board, Brausch has served as Chair of the IMA Performance Oversight and Audit Committee and on the Governance Committee. In line with his commitment to the CMA® certification program, he currently serves as Chair of the ICMA Board of Regents, and he previously served as a Regent and as a member of the Exam Review Committee. As Chair-elect, he will chair the board’s Planning and Development Committee.

Brausch is the author of “Selling ABC, The Trials and Travails of State Tax Policy, and Who Is Accounting for the Cost of Capacity? co-written with Dr. Tom Taylor of Wake Forest University. He also is the author of Beyond ABC: Target Costing for Profit Enhancement, which won the IMA Lybrand Bronze Medal for its outstanding contribution to accounting literature. This article also was selected by the International Federation of Accountants as an Article of Merit and is included in the book, Activity Based Management in Action.

Brausch is a CMA®, CFM® and a Certified Public Accountant. He holds a Master of Business Administration degree from the University of Montana and a Bachelor of Business Administration degree from The Citadel.

About Edens & Avant

Edens & Avant develops, owns and operates community-oriented shopping places in primary markets throughout the East Coast and is one of the leading retail real estate companies in the nation. Focusing on innovative development and redevelopment together with key acquisitions in urban areas, the Company has built a portfolio of more than 130 retail centers in 14 states. Edens & Avant has Regional Headquarters in Boston, Washington, D.C., Atlanta, Miami and Columbia, S.C. (Corporate Office). For additional information about the Company and its retail real estate portfolio, please visit http://www.edensandavant.com/.