Press Release: Regency Centers Corporation
July 15, 2002
SANTA FE, N.M. and JACKSONVILLE, FL -- Security Capital Group Incorporated, an indirect wholly-owned subsidiary
of General Electric Capital Corporation, and Regency Centers Corp. (NYSE: REG) announced July 12 that Security
Capital has elected, pursuant to the terms of its Stockholders Agreement dated as of July 10, 1996, as amended,
to cancel the otherwise automatic extension of the "Standstill Period" contained therein, effective April
10, 2003. The remaining provisions of the Stockholders Agreement, which provide certain rights and protections
to Security Capital and to Regency, remain in full force and effect. In addition, the 60% share ownership limitation
imposed by Regency Center's Articles of Incorporation on Security Capital and related parties will not be affected
by cancellation of the Standstill Period. Regency and Security Capital look forward to continuing to work together.
Security Capital Group
Security Capital, an indirect wholly-owned subsidiary of General Electric Capital Corporation, is an international
real estate operating company. The principal offices of Security Capital and its majority-owned affiliates are
in Brussels, Chicago, El Paso, Houston, London, Luxembourg, New York and Santa Fe.
Regency Centers Corporation
Regency is the leading national owner, operator and developer focused on grocery-anchored, neighborhood retail
centers. Regency's total assets before depreciation exceed $3 billion. As of March 31, 2002, Regency owned 271
retail properties totaling 29.3 million square feet located in high growth markets throughout the United States.
Operating as a fully-integrated real estate company, Regency is a qualified real estate investment trust that is
self-administered and self-managed.
This press release contains certain forward-looking statements under the federal securities laws. These statements
are based on management's current expectations and are subject to uncertainty and changes in circumstances. Forward-looking
statements are not guarantees of future performance and involve certain credit risks and uncertainties, which are
difficult to predict. Actual results may be affected by changes in global, national and local economic conditions,
competitive market conditions, weather and regulatory factors, and therefore, may differ materially from what is
expressed or forecast in this press release.
SOURCE: Regency Centers Corporation