Exhbit 99.1

                 [CBL & ASSOCIATES PROPERTIES, INC. LETTERHEAD]




Contact:   Katie Knight
           Director, Investor Relations
           (423) 855-0001


          CBL & ASSOCIATES PROPERTIES ANNOUNCES TWO-FOR-ONE STOCK SPLIT

CHATTANOOGA,  Tenn. (May 11, 2005) CBL & Associates Properties, Inc. (NYSE: CBL)
announced  today that its Board of Directors  has approved a  two-for-one  stock
split of the  Company's  common  stock.  The stock split will be affected in the
form of a 100% stock dividend.  The record date for the stock split will be June
1,  2005,  with a  distribution  date of June 15,  2005.  The stock  split  will
increase the Company's outstanding common shares and Operating Partnership Units
from  approximately  31,469,000 and 25,630,000 to  approximately  62,938,000 and
51,260,000, respectively.

     The  Company  sought  approval  from  its   shareholders  to  increase  the
authorized  shares of the common stock under the Company's  amended and restated
certificate of incorporation to 180 million from 95 million, in order to provide
a  sufficient  pool from which to issue the stock  dividend.  The  increase  was
approved at the Annual Meeting of Shareholders held on May 9, 2005.

     CBL & Associates Properties,  Inc. is the fourth largest mall REIT in North
America and the largest  owner of malls and  shopping  centers in the  Southeast
ranked by GLA. CBL owns, holds interests in or manages 167 properties, including
70 enclosed  regional  malls.  The properties are located in 29 states and total
73.5 million square feet including 2.0 million square feet of non-owned shopping
centers  managed  for third  parties.  CBL  currently  has nine  projects  under
construction  totaling  approximately  1.5 million  square  feet.  The  projects
include two open-air  shopping  centers  located in Ft.  Myers,  FL, and Memphis
(Southaven,  MS), TN, one associated  center,  three community centers and three
expansions.  In  addition to its office in  Chattanooga,  TN, CBL has a regional
office  in  Boston  (Waltham),  MA.  Additional  information  can  be  found  at
cblproperties.com

     Information  included herein contains  "forward-looking  statements" within
the meaning of the federal  securities  laws.  Such  statements  are  inherently
subject  to risks and  uncertainties,  many of which  cannot be  predicted  with
accuracy  and some of which  might not even be  anticipated.  Future  events and
actual events,  financial and otherwise,  may differ  materially from the events
and results discussed in the forward-looking  statements. The reader is directed
to the Company's  various  filings with the Securities and Exchange  Commission,
including  without  limitation the Company's  Annual Report on Form 10-K and the
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations"  incorporated by reference  therein,  for a discussion of such risks
and uncertainties.