CLEVELAND, Feb. 11 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE:FCEANYSE:andNYSE:FCEB) today celebrated the grand opening of The Village at Gulfstream Park, its newest mixed-use, open-air retail center, in Hallandale Beach, Fla. (Logo: http://www.newscom.com/cgi-bin/prnh/20080515/FRSTCTYLOGO ) The 497,000-square-foot center, adjacent to Gulfstream Park Racetrack and Casino, is South Florida's newest outdoor shopping and entertainment destination, featuring an exciting collection of fashion boutiques, home decor shops, signature restaurants, outdoor cafes and nightclubs. It is located on U.S. 1 in Hallandale Beach, Fla., less than two miles east of I-95. "We're thrilled to bring this one-of-a-kind destination, filled with exceptional shopping, international dining and exciting nightlife to residents and visitors of South Florida," said Charles A. Ratner, Forest City president and chief executive officer. "Through our partnership with Magna Entertainment, the owner and operator of Gulfstream Park, we have combined thoroughbred racing and upscale casino gaming with high-end, lifestyle-oriented shopping, dining and leisure, to create a truly unique entertainment destination. "This is also yet another example of Forest City's commitment to completing the high-quality projects in our construction pipeline and to continuing to build value for the future," Ratner added. The Village at Gulfstream Park, where 85 percent of the retail space is currently leased, will feature approximately 70 stores and 408,000 square feet of retail space, as well as 89,000 square feet of class A office space and the potential for future residential units. The grand opening weekend is the first of several phased openings for the center over the course of 2010, during which additional committed tenants will open their doors. About Forest City Forest City Enterprises, Inc., is an $11.9 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit http://www.forestcity.net/. http://www.newscom.com/cgi-bin/prnh/20080515/FRSTCTYLOGODATASOURCE: Forest City Enterprises, Inc. CONTACT: Robert O'Brien, Executive Vice President - Chief Financial Officer, +1-216-621-6060, or Jeff Linton, Vice President - Corporate Communication, +1-216-621-6060, both of Forest City Enterprises, Inc. Web Site: http://www.forestcity.net/

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