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Billabong Among Hottest Retailers Unveiled During ICSC’s Global Retail Real Estate Convention (July 14, 2008)

Grand Boulevard at Sandestin® location embodies winning store concept.

Walton County, Fla., July 14, 2008 – The International Council of Shopping Centers, Inc. (ICSC) has announced Australian-based board-sports chain Billbong as one of the winners of its 2008 "Hot Retailer" awards, an award that recognizes innovative retail concepts that are appearing in shopping centers around the world.

Nine retailers from around the world received a Hot Retailer Award this year, following a survey of the organization’s 75,000 members. The ICSC Hot Retailer Awards honor innovative or one-of-a-kind retailers. The awards were presented at a ceremony in May during RECon, ICSC’s annual retail real estate conference, in Las Vegas.

“Billabong has been setting the trends since its introduction to the surf scene in the 1970's. Staying current in a youthful environment is no easy task and Billabong strives to produce the latest looks with the highest quality,” says Frank Sims, who along with his wife Tina, owns Billabong in Grand Boulevard at Sandestin®.

This year four food-and-beverage concepts were winners: Five Guys Burgers and Fries, Pinkberry, Pollo Campero and Stir Crazy. The other winners are women’s fashion boutique Apricot Lane, Australian board-sports chain Billabong, Tesco’s U.S. convenience grocery concept Fresh & Easy, L.L.Bean and build-your-own-toy-car retailer Ridemakerz.

"ICSC is pleased to announce and award its 'Hot Retailer Award' to retailers that have worked hard to create products and services that drive customers to shopping centers around the world," said Michael P. Kercheval, ICSC's president and CEO, in a press release. "These retailers create exciting and interesting shopping experiences that contribute to the success of the shopping centers that have these stores as tenants," Kercheval added.

Australian Gordon Merchant founded Billabong in Burleigh Heads on the Gold Coast in 1973. Combining his passion for surfing with hard work, he developed his own stitching technique, which made the garments more durable, cost-effective and less labor intensive.

Since then, Billabong has continually improved every phase of its operation to become one of the world's leading manufacturers of surf wear and has expanded its product range to include board sport products such as wetsuits, watches, surfboards, snowboard outerwear and skateboarding apparel that appeals to both male and females, 12 to 20 years of age. The company's continued support, development and sponsorship of surfing, skateboarding and snowboarding events and world class athletes have contributed to Billabong market dominance and brand integrity.

Sims, who lives in Destin and is an avid surfer himself, says the Grand Boulevard store delivers something fresh and exciting to the Northwest Florida marketplace.

“Like all beach towns where there is an active surf and beach culture year-round, as well as a strong visitor presence during the warm months, a lifestyle brand like Billabong will thrive,” says Sims.

Grand Boulevard is the new shop, work, play and stay Town Center located in Beaches of South Walton along Northwest Florida’s Gulf Coast. Based on the prominent mixed-use architectural model, Grand Boulevard offers a dynamic lifestyle experience with convenient access to a multitude of exclusive shopping and dining options, entertainment, professional services, corporate offices and lodging. For more information, please call (850) 654-5929 or visit www.grandboulevard.com.

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