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Borders Books and music to open fourth Manhattan store

Borders Books and Music will open its fourth Manhattan store this fall in the new 2.1 million-square-foot AOL Time Warner Center on Manhattan's West Side at Columbus Circle. Borders will occupy 26,000 square feet of The Shops at Columbus Circle, a seven-story segment of the AOL Time Warner Center that will feature 350,000 square feet of retail. Co-tenants will include Whole Foods, A/X Armani Exchange, Cole Haan and Hugo Boss. The complex will house Jazz at Lincoln Center, a performing arts facility with three main performance venues.

"The AOL Time Warner Center offers Borders the amazing synergy of numerous upscale retailers," said Tami Heim, president of Borders. "With this store, we'll be able to serve Borders shoppers in midtown Manhattan, the Upper West Side and in the Central Park area. With the addition of Dean and Deluca, New York's premier food emporium, operating the cafe, our customers will be able to experience rich, distinctive coffees, fresh breads, pastries, sandwiches, and other gourmet foods and gift items. The center is sure to be one of the most exciting shopping environments in the nation and Borders looks forward to serving customers there."

"We view this Borders store as a significant anchor to our center that will be sure to draw an incredible amount of customer traffic on a daily basis," said Mitchell Friedel, senior vice president and director of leasing for Related Urban Development, a division of The Related Companies. "It serves as a valuable addition, not only the general public, but also for the occupants of our office, hotel and residential venues."

Borders currently operates two existing Manhattan stores at 461 Park Ave. and at Kip's Bay. The retailer also announced last October the planned opening of a new store at 100 Broadway in Lower Manhattan this spring. The Broadway store will also feature a Dean and Deluca cafe and replaces the World Trade Center location that was destroyed in the September 11 attacks.

"This is a natural fit," said Dean and Deluca's President and CEO, Dane Neller. "Both companies are passionate about offering superior products, service and merchandizing, and we are excited to be part of Borders' New York expansion."

Borders is an industry leader in selection, customer service and convenience. Borders stores offer up to 200,000 book, music, DVD and periodical titles, as well as cutting-edge service technology through Title Sleuth(tm), self-service computer stations located throughout the store. Title Sleuth allows Borders customers to easily determine if a particular book CD or movie is in stock at the store they are visiting or at a nearby Borders location and offers access to more than 15 million used, out-of-print and hard-to-find titles worldwide.

For Borders.com and Amazon.com shoppers, "In-Store Express Pick Up" service combines the ease of ordering online with the convenience of paying for their purchase and picking it up the same day. Exploring contemporary books and CDs by innovative authors and artists is easy with Borders' "Original Voices" program - featuring the works of more than 200 contemporary authors and illustrators from around the world in the categories of fiction, non-fiction, young adult and children's picture books throughout the year.

For those unsure of what they're looking for, Borders' "We Recommend" titles and reviews are displayed throughout the store and knowledgeable booksellers are happy to suggest titles well suited to each customer. In the multimedia section, Borders B-Listening(tm) lets customers preview nearly every CD in store and view trailers of DVDs.

In addition, Borders' experienced buying staff recommends music and movie titles everyone should have in their personal libraries through in-store "Borders Essentials" lists.

 

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About Borders Group Borders Group is a leading global retailer of books, music, video and other information and entertainment items with stores in the United States, United Kingdom, Australia, New Zealand, Singapore, and the commonwealth of Puerto Rico. A FORTUNE 500 company headquartered in Ann Arbor, Mich., Borders Group employs 32,000 worldwide and operates over 410 Borders domestic superstores, 33 international Borders stores, 37 Books etc. locations and approximately 775 Waldenbooks stores. Teamed with Amazon.com, the company also offers online shopping through Borders.com (www.borders.com) and Waldenbooks.com (www.waldenbooks.com). More detailed information on the company is available at www.bordersgroupinc.com. Information on Borders stores is available through www.bordersstores.com.

About AOL Time Warner Center Scheduled for completion in Fall 2003, the 2.1-million square-foot mixed-use complex currently under construction on Columbus Circle will be New York City's new landmark for the 21st Century. The complex, designed by David M. Childs of Skidmore, Owings and Merrill, is being developed by The Related Companies, L.P. and Apollo Real Estate Advisors, L.P. The project will feature the new world headquarters of AOL Time Warner, a Jazz at Lincoln Center performing arts facility with 3 main performance venues (totaling 1,970 seats), rehearsal and recording studios and classrooms, The Shops at Columbus Circle featuring luxury and specialty retail shops and fine dining, the One Central Park residential condominiums containing 191 luxury apartments, a 251 room five-star Mandarin Oriental, New York, 200,000 square feet of state-of-the-art Class A office space, and a 504 stall valet parking garage.

About Dean and Deluca Dean and Deluca is a specialty retailer of gourmet foods, premium wines and high-end kitchenware with twelve retail stores and cafes in select U.S. markets, a consumer and corporate gift catalogue, and an e-commerce site, www.deandeluca.com. Dean and Deluca also markets its private label products to other retailers and wholesalers throughout the world. New store openings in 2003 include a food emporium at Madison Avenue and 85th Street, two cafes at Borders' 100 Broadway and AOL Time Warner Center locations, and a flagship market in Tokyo through a licensing agreement with Itochu Corporation.

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