The Mills Corporation (TMC), a real estate investment trust (REIT),engages in the development, redevelopment, leasing, financing, management, and marketing of retail properties. TMC’S portfolio consists of retail and entertainment super-regional shopping centers, conventional regional shopping centers, and retail and entertainment centers. As of July 14, 2005, the company owned 42 properties located in the United States, Canada, and Europe. The company has elected to be taxed as a real estate investment trust (REIT) under the Internal Revenue Code. The company would not be taxed on the portion of its income, which is distributed to shareholders, provided it distributes at least 90% of its taxable income. TMC was incorporated in 1991 and is headquartered in Arlington, Virginia.