Mills Corp.

1300 Wilson Blvd., Suite 400

Year founded: 1994

Industry: Real Estate

Post 200 Category: Top 125 Companies

Revenue: $684.80 Million

Net Income/Loss: $232.00 Million

Earnings per share: $3.50

Dividend: $2.35

Stockholder equity: $1.25 Billion

Auditor: Ernst & Young LLP

Stock: MLS

Assets: $6.10 Billion

Market capitalization: $3.04 Billion

52-week high: 63.8 1/3/2005

52-week low: 37 5/10/2004

Chairman and CEO: Laurence C. Siegel

President: Mark Ettenger

Employees: 1150

Local employees: 550

Description: The company, a real estate investment trust (REIT), develops, owns and manages shopping centers. The company operates 39 malls, all but three in the United States.

Developments: Mills expanded its shopping center empire in August when it agreed to purchase a 50 percent interest in nine regional malls from General Motors Asset Management, a subsidiary of the Detroit automaker. The properties include Marley Station in Glen Burnie, Md., and Lakeforest Mall in Gaithersburg. The company also began sprucing up two marquee shopping centers — Potomac Mills in Prince William County and Sawgrass Mills, in Broward County, Fla. — with major renovations. The Potomac Mills project should be completed this fall. Mills recruited several new executives in 2004. Mark Ettenger, a managing director at Goldman, Sachs & Co., became president, a newly created position; Ronald Weidner, a founding partner at WestWind Capital Partners, became head of international operations; and Robert Ferguson, president and founder of Ferguson Associates, a consulting firm, became senior vice president of development. To boost its recognition with shoppers, Mills launched a television and radio advertising campaign with the slogans: "More than you're looking for" and "Where great shopping lives." Just before the Christmas holiday, Mills launched a national gift card program with Discover Financial Services Inc. The cards can be redeemed at all stores in Mills centers that accept Discover Card. But early this year, the company found itself among many tripping on the new Sarbanes-Oxley accounting requirements. Mills said in February that it would have to restate its earnings for 2002 through 2004, primarily to correct accounting related to its joint venture agreements.

Executive Compensation
President: Mark D. Ettenger
Total Cash: $2,359,934.00
Total Compensation: $7,968,602.00

Chairman and CEO: Laurence C. Siegel
Total Cash: $3,291,703.00
Total Compensation: $5,245,611.00