Iconic fire tower, representing the last of the construction steel,
was erected today during a special topping off ceremony

HONOLULU, Hawaii, October 26,2015 - The International Market Place management team was joined today by representatives from Queen Emma Land Company and several Hawaiian dignitaries for a 'topping off' ceremony at International Market Place. The center's 21,000 lb. iconic fire tower was crane-lifted into place just off Kalakaua Ave. after being signed by the event's special guests.

Developed by Taubman and CoastWood Capital Group, the new International Market Place will open on August 25, 2016, with approximately 75 retailers and Hawaii's first Saks Fifth Avenue.

'The excitement of this construction milestone was a great reason to bring the community together,' said Michael Fenley, general manager, International Market Place. 'The grand opening is just 10 months away so tourists and kama'aina alike will continue to see the center's extraordinary profiles take shape along Kalakaua and Kuhio in the months to come.'

Added CoastWood Capital Group President Cordell Lietz, 'Taubman and CoastWood together are watching our vision of delivering a world-class shopping destination come to life. We thank Queen Emma Land Company and the local dignitaries for joining us to mark this special occasion.'

The 79 ft. fire tower is destined to become a signature Waikiki landmark with its 13 lanterns that will illuminate the center's entry. It will be a beacon that welcomes guests to the remarkable dining collection on the third level grand lanai.

Ground was broken for the 360,000 sq. ft. International Market Place on March 3, 2014. The center will celebrate through its architecture the history and culture of Waikiki. This commemoration will include water features, lush landscaping and the iconic, century-old banyan tree.

Download photos here:https://www.flickr.com/photos/taubmancenters/albums/72157659961519619

For more information on International Market Place, visitshopinternationalmarketplace.com .

ABOUT TAUBMAN
Taubman Centers, Inc. (NYSE: TCO) is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 22 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing four properties in the U.S. and Asia totaling 4.1 million square feet. Taubman, with more than 60 years of experience in the shopping center industry, is headquartered in Bloomfield Hills, Mich., and Taubman Asia is headquartered in Hong Kong.taubman.com .

ABOUT COASTWOOD CAPITAL GROUP, LLC

CoastWood Capital Group, LLC is a specialized real estate investment firm based in San Francisco. Founded by Cordell Lietz in 2003, the company acquires, manages and develops real estate in the United States with an emphasis on retail and other property types with unique operational characteristics. CoastWood has been actively investing in Hawaii for over a decade and holds interests in several properties throughout Hawaii including Waikiki Trade Center, Kings' Shops and Queens' Marketplace.

For ease of use, references in this press release to 'Taubman Centers,' 'company,' 'Taubman' or an operating platform mean Taubman Centers, Inc. and/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 or the named operating platform.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management's current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future. Actual results may differ materially from those expected because of various risks and uncertainties. You should review the company's filings with the Securities and Exchange Commission, including 'Risk Factors' in its most recent Annual Report on Form 10-K and subsequent quarterly reports, for a discussion of such risks and uncertainties.

CONTACT:

Maria Mainville

Director, Strategic Communications

248.258.7469

mmainville@taubman.com

distributed by