News Releases

* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.

Grand Opening of "LaLa terrace Minami Senju" Set for April 8, 2004
The Third Shopping Complex of the Mitsui Lifestyle Park Series

February 17, 2004
Mitsui Fudosan Co., Ltd.

Mitsui Fudosan Co., Ltd. announces the grand opening of LaLa terrace Minami Senju, set for Thursday April 8, 2004. The facility will house 31 tenants. LaLa terrace Minami Senju is the third of the Mitsui Lifestyle Park series, new concept shopping developments for the neighborhood areas.

The Minami Senju area is undergoing major redevelopment and has significant potential as a commercial area, with a rising population centered on younger families headed by couples in their 30s and 40s. The complex is aimed at contributing to building a new image and tapping the potential of Minami Senju as a relaxation/gathering point.

The complex is an open mall evokes a casual European-style cityscape. The design motif offers a Donau ambiance of forests, water, and music. This theme was especially picked because Donaustadt in Vienna Austria is the sister city of Arakawa Ward.

Among the major tenants are Livre Keisei, which focuses on fresh foods, Yuzawaya, which handles craft/clothes-making items, and Natural Hills Daiso, a variety shop.

Fashion tenants offer brands geared toward a casual, upscale lifestyle. The main stores slotted for this area include Rite-on, a retailer of family casual wear, ABC-Mart, a seller of shoes, GFC, specializing in ladies fashion, and Odetto, which specializes in lingerie.

Among the 11 slotted eateries are the bakery/café mon favori, Okayuya Kayu Kayu, specializing in Chinese food and okayu (rice porridge), and Sanbiki no Kobuta (Three Little Pigs), serving teppanyaki cuisine (meat roasted on a hot plate).

Other tenants include a childcare room, MaMa's Eye, an English learning center for children, and Hair Studio Click, a beauty salon. As such, the tenants are all geared toward the lifestyle park concept, which aims to offer convenience in daily life as well as innovative and superior-quality consumer solutions. Among the 31 total tenants are two new-format shops and two stores making their debuts in the Kanto area.

The complex will also proactively sponsor and host community events, making it more than just a shopping center, but a place of relaxation and the focus of activity for the people of the community. The facility will be managed by Lalaport Co., Ltd., (wholly owned subsidiary of Mitsui Fudosan).

Located in urban residential areas, the Mitsui Lifestyle Park concept was developed to provide the local population with more convenient daily lives as well as new and better consumer choices. Specifically, stores that meet a variety of consumer needs characterize the complex, which is designed to attract people to the anchor tenant—a food supermarket—while offering a balance of multiple specialty stores, including retailers, eateries, and service providers. More than simply a shopping center, the complexes are envisaged as the meeting place for the local community.

TREAGE Shirahata (Fujisawa-shi, Kanagawa), the first complex developed under the lifestyle park concept, was opened in April 2003. The second—LALA Garden Tsukuba (Tsukuba-shi, Ibaraki)—is scheduled for opening on March 19, 2004.

The opening of LaLa terrace Minami Senju and LALA Garden Tsukuba provides a model image for the respective "terrace" and "garden" style facilities, as well as helps develop the LaLa brand of Mitsui Lifestyle Park.

<Attachment 1 >

Lala Garden Terrace Minami Senju Facilities Overview

1. Site Area
Address 7-2 Minami Senju 4-Chome, Arakawa-ku, Tokyo
Access Four-minute walk from Minami Senju Station (subway Hibiya Line and JR Joban Line)
Area 14,098m2
Land Owner Arakawa-ku, Urban Development Corporation

2. Facilities
Floor area 13,385 m2
Leased area 9,241 m2
Construction Two-story steel frame
Tenants 31
Parking 250 cars (129 on ground level and 121 on roof level)

3. Scheduled opening
April 8, 2004 (Thursday)

4. Design/construction
Basic design MTM International
Environmental Design Semba Co., Ltd.
Design/Construction Asanuma Corporation

5. Construction Period
Approx. 8 months

6. Business Terms
Commercial-use land lease-holding (20 years)

7. Total project expense
Approx. ・1.4 billion

8. Customer traffic forecast
Approx. 4 million annually

9. Projected retail sales
Approx. ・yen8 billion annually

<Attachment 2 > Location map

wide area

narrow area

<Attachment 3> Exterior Photo

<Attachment 4 > Logo Design