Exhibit 10.7.8


      Summary Description of October 26, 2005 Compensation Committee Action
                    Setting 2006 Executive Base Salary Levels

     On October 26, 2005, the  Compensation  Committee of the Board of Directors
of CBL & Associates  Properties,  Inc. (the "Company") approved 2006 Base Salary
levels for the Company's  officers and members of senior  management,  including
setting the following 2006 Base Salary levels for those  individuals who qualify
as "named  executive  officers" of the Company  (pursuant  to Item  402(a)(3) of
Securities and Exchange Commission Regulation S-K):


         Name:                             Title:               2006 Base Salary

                                                              
Charles B. Lebovitz       Chairman of the Board and                 $558,802
                          Chief Executive Officer

John N. Foy               Vice Chairman of the Board, Chief         $486,320
                          Financial Officer and Treasurer

Stephen D. Lebovitz       Director, President and Secretary         $475,000

Eric P. Snyder            Senior Vice President and                 $446,000
                          Director of Corporate Leasing

Augustus N. Stephas       Senior Vice President - Accounting        $456,600
                          and Controller


In the case of Charles B. Lebovitz,  John N. Foy and Stephen D. Lebovitz,  these
adjusted  base  salaries  were approved to take effect as of January 1, 2006. In
the case of Mr.  Stephas,  the effective  date is February 28, 2006,  and in the
case of Mr. Snyder, the effective date is September 15, 2006.

Each of Charles B. Lebovitz,  John N. Foy and Stephen D. Lebovit are parties to
deferred compensation agreements issued under the Company's Amended and Restated
Stock  Incentive  Plan, as amended,  pursuant to which the amounts  representing
annual  increases  over their  base  salaries  since 1995 are paid in  quarterly
installments in the form of the Company's Common Stock rather than cash.