BLOOMFIELD HILLS, Mich., Jan. 12 /PRNewswire-FirstCall/ -- Taubman Centers, Inc. (NYSE: TCO) announced today the tax allocations of the 2008 dividend distributions on its common shares and on its 8% Series G and 7.625% Series H Cumulative Redeemable Preferred Shares.

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The 2008 distributions paid with respect to Taubman Centers, Inc. Common Stock (NYSE:TCO/Cusip no. 876664103) are as follows:




    Declar-  Record   Payable  Gross   Ordinary  Return 15% Rate  Unrecaptured
    ation     Date     Date   Distrib- Dividend   of    Long Term    Sec. 1250
    Date                       ution   Percent  Capital  Capital     Capital
                                                Percent   Gain        Gain
                                                         Percent     Percent
    02/27/08 03/31/08 04/21/08 0.41500 80.2670426% 0%  18.1402924%  1.5926650%
    05/29/08 06/30/08 07/21/08 0.41500 80.2670426% 0%  18.1402924%  1.5926650%
    09/03/08 09/30/08 10/20/08 0.41500 80.2670426% 0%  18.1402924%  1.5926650%
    12/10/08 12/31/08 01/20/09 0.41500 80.2670426% 0%  18.1402924%  1.5926650%
      2008 TOTALS PER SHARE    1.66000 80.2670426% 0%  18.1402924%  1.5926650%

-- Amounts reported to Direct Share Purchase and Dividend Reinvestment Plan participants will differ due to administrative costs. Participants should refer to their Form 1099, which will be mailed in late January, and contact BNY Mellon Shareowner's Services at (888) 877-2889 for further information.

-- For 2008, Taubman Centers, Inc. had no distributions to common stock holders allocable as qualified dividends.

-- The distribution to be paid on January 20, 2009 is taxable in 2008.

-- Taxability of the 2008 common dividend is not indicative of the taxability of future dividends.

The 2008 distributions paid with respect to Taubman Centers, Inc. Series G Preferred Stock (NYSE:TCO PrG/Cusip no. 876664301) are as follows:




    Declar-  Record   Payable  Gross   Ordinary  Return 15% Rate  Unrecaptured
    ation     Date     Date   Distrib- Dividend   of    Long Term    Sec. 1250
    Date                       ution   Percent  Capital  Capital     Capital
                                                Percent   Gain        Gain
                                                         Percent     Percent
    02/27/08 03/20/08 03/31/08 0.50000 80.2670426% 0%  18.1402924%  1.5926650%
    05/29/08 06/20/08 06/30/08 0.50000 80.2670426% 0%  18.1402924%  1.5926650%
    09/03/08 09/19/08 09/30/08 0.50000 80.2670426% 0%  18.1402924%  1.5926650%
    12/10/08 12/19/08 12/31/08 0.50000 80.2670426% 0%  18.1402924%  1.5926650%
      2008 TOTALS PER SHARE    2.00000 80.2670426% 0%  18.1402924%  1.5926650%

-- For 2008, Taubman Centers, Inc. had no distributions to Series G Preferred Stock holders allocable as qualified dividends.

-- Taxability of the 2008 dividend to Series G Preferred Stock holders is not indicative of the taxability of future dividends.

The 2008 distributions paid with respect to Taubman Centers, Inc. Series H Preferred Stock (NYSE:TCO PrH/Cusip no. 876664400) are as follows:




    Declar-  Record   Payable  Gross     Ordinary Return 15% Rate Unrecaptured
    ation    Date     Date     Distrib-  Dividend   of    Long Term  Sec. 1250
    Date                       ution     Percent  Capital  Capital    Capital
                                                  Percent   Gain       Gain
                                                          Percent     Percent
    02/27/08 03/20/08 03/31/08 0.4765625 80.2670426% 0% 18.1402924% 1.5926650%
    05/29/08 06/20/08 06/30/08 0.4765625 80.2670426% 0% 18.1402924% 1.5926650%
    09/03/08 09/19/08 09/30/08 0.4765625 80.2670426% 0% 18.1402924% 1.5926650%
    12/10/08 12/19/08 12/31/08 0.4765625 80.2670426% 0% 18.1402924% 1.5926650%
      2008 TOTALS PER SHARE    1.9062500 80.2670426% 0% 18.1402924% 1.5926650%

-- For 2008, Taubman Centers, Inc. had no distributions to Series H Preferred Stock holders allocable as qualified dividends.

-- Taxability of the 2008 dividend to Series H Preferred Stock holders is not indicative of the taxability of future dividends.

For additional information, please refer to the Taubman Centers, Inc. website, www.taubman.com or call Mark Godek, Director of Tax Compliance at (248) 258-7667.

Taubman Centers is a real estate investment trust engaged in the development and management of regional and super regional shopping centers. Taubman's 24 U.S. owned and/or managed properties, the most productive in the industry, serve major markets from coast to coast. The company's Taubman Asia subsidiary is developing retail projects in Macao, China and Incheon, South Korea. Taubman Centers is headquartered in Bloomfield Hills, Michigan. For more information about Taubman, visit www.taubman.com.

For ease of use, references in this press release to "Taubman Centers" or "Taubman" mean Taubman Centers, Inc. or one or more of a number of separate, affiliated entities. Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself.

SOURCE Taubman Centers, Inc.