Faison -- Press Room

Aberdeen, NC – February 15, 2005 – Faison’s Carolinas Retail Development department is rapidly completing construction on the 120,000 square-foot shopping center located at US Hwy. 15-501 and US 1 in Aberdeen, North Carolina.

Aberdeen Commons will replace the former Kmart shopping center that was demolished to accommodate the project and will be anchored by Best Buy, Bed Bath and Beyond, Ross Dress for Less and PETsMART. In addition, the project will have 20,000 square feet of small shop space which will include Rack Room Shoes and Panera Bread.

” We appreciate the support and efforts from the City of Aberdeen in working with us on the redevelopment of this project and are excited to bring this mix of top retailers to the marketplace.” said Bill Barnett, Managing Director of Faison’s Carolinas region. Anchor tenants are expected to open in the next thirty days, while small shop openings will occur over the next six months.

Faison Enterprises, Inc. is a privately-held real estate investment company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services. With more than 40 years in the business and holdings of approximately $1.3 billion, the Charlotte N.C. based company manages and develops properties throughout the South and Mid-Atlantic and maintains regional offices in Bethesda MD, Washington DC, Charlotte NC, Atlanta GA, Orlando and Delray Beach FL. For more information, visit www.faison.com.