The District at Tustin Legacy will be a Class A lifestyle and power retail center containing both ‘big box’ and lifestyle components with a complete set of high quality amenities intended to function as the leading retail/entertainment element within the larger Tustin Legacy project. . The central lifestyle component of the project will contain over 250,000 square feet anchored by a state-of-theart 14 screen megaplex movie theater complex with at least 3,000 stadium type seats and restaurants, bistros, cafes, entertainment and retail uses. Free standing retail and dining pads will be located adjacent to the lifestyle component. The second component of the project will include large in-line commercial stores to be located along a portion of the Jamboree Road and Tustin Ranch Road frontages of the project site. The third component of the project is designed for more regional power uses and will be anchored by Costco and two other large retailers. Escrow is expected to close on the first phase of The District at Tustin Legacy in December 2004 with the scheduled opening of the first phase in April 2006.

Jamboree Road adjacent to The District at Tustin Legacy averages up to 70,000 vehicle trips daily. Due to trip volumes in the vicinity and the site’s visibility, the retail center will have a regional draw and will also locally attract customers from Tustin, Irvine, Newport Beach, Costa Mesa, and Santa Ana. It is also expected that those working in the adjacent Irvine Business Complex will contribute to a great deal of the center’s day time activity.

The development is a venture between Vestar Development Company and Kimco Realty Corporation. Vestar Development Company is one of the leading privately held real estate companies in the western United States and specializes in the development and management of open-air retail centers. Vestar builds and manages entertainment-retail complexes, power and "lifestyle" centers of varying size and scale that serve as destination attractions because of their unique sense of place. Vestar has a history and reputation of developing highly success destination centers that are not only unique but dominate the markets in which they are located. Vestar recently developed the Desert Ridge Marketplace in Phoenix, an award winning and highly praised lifestyle and power center used by Vestar and the City as benchmark to bring a similar experience to Tustin and Orange County.

Kimco, which will serve as a financial partner in the project is a publicly-traded real estate investment trust and is one of the largest owners and operators of neighborhood and community shopping centers in North America.

In approving the project, Mayor Kawashima speaking on behalf of the Tustin City Council stated, "The District will be a unique and exciting retail center that will be a cornerstone for Tustin Legacy. We are delighted with the developer’s commitment to this project and their proven ability to develop quality destination centers. Vestar retail centers have become the focal point of any market they enter. We expect The District at Tustin Legacy will be one the most successful retail centers in the County."

For further information on the Tustin Legacy project, please visit the Tustin Legacy web site at http://www.tustinlegacy.com . For further information on Vestar Development Company, visit their web site at http://www.vestar.com .