Taubman Centers Announces Taxable Allocations of 2008 Common and Preferred Share...

Taubman Centers Announces Taxable Allocations of 2008 Common and Preferred
Share Dividend Distributions

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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080428/CLM116LOGO )
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.

Barbara Baker, Vice President, Investor Relations of Taubman, +1-248-258-7367,
bbaker@taubman.com