AT FELDMAN MALL PROPERTIES: FOR JAMES W. SIGHT: Thomas Wirth 8500 College Blvd., President and Chief Executive Officer Overland Park, Kansas 66210

Exhibit 99.1

FOR FURTHER INFORMATION

AT XXXXXXX MALL PROPERTIES:		FOR XXXXX X. SIGHT:
Xxxxxx Xxxxx		0000 Xxxxxxx Xxxx.,
President and Chief Executive Officer		Overland Park, Kansas 66210
(000) 000-0000		(000) 000-0000

XXXXXXX MALL PROPERTIES, INC. AND
XXXXX X. SIGHT REACH AGREEMENT
REGARDING BOARD NOMINATION

Great Neck, NY and Shawnee Mission, KS, May 5, 2008 — Xxxxxxx Mall Properties, Inc. (NYSE: FMP) and Xxxxx X. Xxxxx today announced that they have reached an agreement relating to the Xxxxxxx Mall Properties 2008 Annual Meeting of Stockholders. Mr. Xxxxx beneficially owns 880,500 shares of FMP common stock, representing approximately 6.8% of FMP’s outstanding shares.

Under the terms of the agreement, which will be filed as an exhibit to a report on Form 8-K to be filed by Xxxxxxx Mall Properties, Mr. Xxxxx has withdrawn his purported nomination of three persons for election to the Xxxxxxx Mall Properties’ Board of Directors and will not solicit proxies in connection with FMP’s 2008 Annual Meeting. In addition, Mr. Xxxxx has agreed to vote his shares in support of all of the candidates nominated by the Board of Xxxxxxx Mall Properties for election as directors at the 2008 Annual Meeting. Mr. Xxxxx also has agreed to comply with certain standstill provisions for a period commencing on the date of the agreement and ending on the date that is 150 days before the first anniversary of the date of the proxy statement mailed to the stockholders of Xxxxxxx Mall Properties in connection with its 2008 Annual Meeting of Stockholders, subject to the express understanding that these provisions will not restrict him from soliciting proxies or taking other actions in respect of the 2009 annual meeting of stockholders. Xxxxxxx Mall Properties has agreed that its Board will nominate Mr. Xxxxx for election as a director at the 2008 Annual Meeting of Stockholders.

Xxxxxxx Mall Properties, Inc. (the “Company”) plans to file with the SEC and mail to its stockholders a definitive proxy statement (the “2008 Proxy Statement”) relating to its 2008 annual meeting of stockholders, which is currently scheduled for May 28, 2008. The Company, its directors and certain of its officers may be deemed, under the SEC’s rules, to be participants in a solicitation of proxies from its stockholders in connection with the 2008 annual meeting of stockholders. Information regarding those directors and officers and their respective interests will be provided in the 2008 Proxy Statement. Investors should read the 2008 Proxy Statement when it becomes available because it will contain

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Xxxxxxx Mall Properties, Inc.
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important information. Investors will be able to obtain the 2008 Proxy Statement, after it’s filed, for free at the SEC’s website at xxx.xxx.xxx.

About Xxxxxxx Mall Properties, Inc.

Xxxxxxx Mall Properties, Inc. acquires, renovates and repositions enclosed regional shopping malls. Xxxxxxx Mall Properties Inc.’s investment strategy is to opportunistically acquire underperforming malls and transform them into physically attractive and profitable Class A or near Class A malls through comprehensive renovation and re-tenanting efforts aimed at increasing shopper traffic and tenant sales. The Company’s portfolio, including non-owned anchor tenants, consists of seven regional malls aggregating approximately 6.8 million square feet. For more information on Xxxxxxx Mall Properties Inc., visit the Company’s website at xxx.xxxxxxxxxxx.xxx.

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