Aronov News

Aronov Brings Four Publix Supermarkets to Montgomery

For Immediate Release, April 16, 2004

Montgomery, Alabama - Aronov Realty Management today announced that it will bring a new grocery chain to the Montgomery market with the signing of Publix to four locations within the city. Each store location will be new construction featuring Publix's legendary quality and customer service. Founded in 1930, Publix Super Markets is the largest and fastest growing employee-owned super market chain in the United States, and is recognized as tops in the grocery business by an American Customer Index survey.

The store locations in Montgomery include:
-The Shoppes at Cornerstone, a new shopping center to be constructed at the corner of Taylor Road and Vaughn Road
-Zelda Place, a Publix store will be added to this shopping center on Zelda Road between Ann Street and Carter Hill Road
-Taylor Junction, a new shopping center to be constructed at the corner of Atlanta Highway and Taylor Road
-Dalraida Downs, a new shopping center to be constructed on Atlanta Highway between Perry Hill Road and the Eastern Boulevard (on the site previously occupied by K-Mart)

Groundbreaking for the new stores is scheduled for Summer 2004 with a projected opening of Summer 2005.

Jake Aronov, Chairman and CEO of Aronov Realty Management, said, "We are proud to be the developer working with Publix on their entry into Montgomery. They are one of the dominant grocery operators in the Southeast and will be a dynamic addition to our community. The four new stores will be strategically located to serve established residential areas inside the Bypass as well as the explosive growth in east Montgomery. Publix will be an exciting addition to Zelda Place, as well as an important part of the new grocery-anchored centers we will soon have underway in Montgomery."

Publix's entry into the market will bring hundreds of new jobs to the Montgomery community. Publix is listed as one of the top companies in FORTUNE's list of "100 Best Companies to Work For" (1998 - 2004).

"The announcement of Publix coming to Montgomery is a prime example of a reputable company investing in our city," stated Mayor Bobby Bright. "Not only will they be opening stores in areas of growth, they are investing in traditional neighborhoods which will further enhance the economic stability of those mature areas. The economic impact created by Publix will be important to Montgomery ."

"Publix is proud to be moving into the Montgomery community, stated Brenda Reid, Publix Super Market spokesperson. "The four new locations will bring hundreds of jobs to the community and we look forward to becoming the super market of choice in Montgomery."

Publix is one of the 10 largest-volume super market chains in the country, with 2003 retail sales of $16.8 billion. Currently, Publix operates 812 supermarkets and employs more than 123,500 people. Headquartered in Lakeland, Florida, Publix operates stores in Florida, Georgia, South Carolina, Alabama and Tennessee. For more information about Publix, visit www.publix.com.

Aronov is the largest privately-owned, fully diversified real estate company in the Southeast with over 100 properties, and performs acquisitions, development, management, leasing and brokerage services for its portfolio and property owned by third parties. Leasing inquiries for The Shoppes at Cornerstone, Zelda Place and Taylor Junction may be made to Steve Wallace at Aronov at 334-277-1000. For more information about Aronov, visit www.aronov.com.

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