MLS Mills Corp

The Mills Corporation (NYSE:MLS) announced the tax reporting information (Federal Form 1099) for the year 2006 distributions on its Common Stock, Series B Cumulative Redeemable Preferred Stock, Series C Cumulative Redeemable Preferred Stock, Series E Cumulative Redeemable Preferred Stock, Series F Convertible Cumulative Redeemable Preferred Stock and Series G Cumulative Redeemable Preferred Stock. The federal income tax characteristics of the 2006 distributions paid with respect to The Mills Corporation�s Common Stock are as follows: COMMON STOCK -- CUSIP #601148109 -- Ticker Symbol MLS � � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains Return of Capital � 2/1/06� $0.627500� $0.000000� $0.511477� $0.116023� $0.000000� 5/1/06� $0.251000� $0.000000� $0.204591� $0.046409� $0.000000� 8/1/06� $0.251000� $0.000000� $0.204591� $0.046409� $0.000000� Totals $1.129500� $0.000000� $0.920659� $0.208841� $0.000000� Amounts reported to Direct Stock Purchase and Dividend Reinvestment Plans may differ due to administrative costs. Participants should refer to their Form 1099 and contact Computershare at 1-800-446-2617 for further information. The taxability of the 2006 common stock dividend is not indicative of the taxability of future distributions. The federal income tax characteristics of the 2006 distributions paid with respect to The Mills Corporation�s Series B Cumulative Redeemable Preferred Stock, Series C Cumulative Redeemable Preferred Stock, Series E Cumulative Redeemable Preferred Stock, Series F Convertible Cumulative Redeemable Preferred Stock and Series G Cumulative Redeemable Preferred Stock are as follows: SERIES B PREFERRED STOCK -- CUSIP # 601148208 -- Ticker Symbol MLS_pb � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains � 2/1/06� $0.562500� $0.000000� $0.458496� $0.104004� 5/1/06� $0.562500� $0.000000� $0.458496� $0.104004� 8/1/06� $0.562500� $0.000000� $0.458496� $0.104004� Totals $1.687500� $0.000000� $1.375488� $0.312012� � SERIES C PREFERRED STOCK -- CUSIP # 601148307 -- Ticker Symbol MLS_pc � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains � 2/1/06� $0.562500� $0.000000� $0.458496� $0.104004� 5/1/06� $0.562500� $0.000000� $0.458496� $0.104004� 8/1/06� $0.562500� $0.000000� $0.458496� $0.104004� Totals $1.687500� $0.000000� $1.375488� $0.312012� � SERIES E PREFERRED STOCK -- CUSIP # 601148406 -- Ticker Symbol MLS_pe � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains � 2/1/06� $0.546875� $0.000000� $0.445760� $0.101115� 5/1/06� $0.546875� $0.000000� $0.445760� $0.101115� 8/1/06� $0.546875� $0.000000� $0.445760� $0.101115� Totals $1.640625� $0.000000� $1.337280� $0.303345� � SERIES F PREFERRED STOCK -- CUSIP # 601148604 (Restricted); # 601148703 (Registered) � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains � 2/1/06� $16.875000� $0.000000� $13.754867� $3.120133� 5/1/06� $16.875000� $0.000000� $13.754867� $3.120133� 8/1/06� $16.875000� $0.000000� $13.754867� $3.120133� Totals $50.625000� $0.000000� $41.264601� $9.360399� � SERIES G PREFERRED STOCK -- CUSIP # 601148877 -- Ticker Symbol MLS_pg � � � � � Payment Dates Distribution Per Share Ordinary Dividends Capital Gains Unrecaptured Section 1250 Gains � 2/1/06� $49.220000� $0.000000� $40.119381� $9.100619� 5/1/06� $49.220000� $0.000000� $40.119381� $9.100619� 8/1/06� $49.220000� $0.000000� $40.119381� $9.100619� Totals $147.660000� $0.000000� $120.358143� $27.301857� About The Mills Corporation The Mills Corporation, based in Chevy Chase, MD, is a developer, owner and manager of a diversified portfolio of retail destinations, including regional shopping malls and market-dominant retail and entertainment centers. It currently owns 38 properties in the United States totaling approximately 47 million square feet. The Mills is traded on the New York Stock Exchange under the ticker: MLS. For more information, visit the Company's website at www.themills.com. Statements in this press release that are not historical may be deemed forward-looking statements within the meaning of the federal securities laws. Although The Mills Corporation and The Mills Limited Partnership believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they can give no assurance that their expectations will be attained and it is possible that their actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. The words �will,� �plan,� �believe,� �expect,� �anticipate,� �should,� �target,� �intend,� and similar expressions identify forward-looking statements. The Mills Corporation and The Mills Limited Partnership undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is directed to The Mills Corporation�s and The Mills Limited Partnership�s various filings with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, report on Form 10 and annual report on Form 10-K for a discussion of such risks and uncertainties.