Taubman Centers, Inc. (TCO) operates as a self-administered and self-managed real estate investment trust (REIT). The Taubman Realty Group Limited Partnership (TRG) is a majority-owned partnership subsidiary of TCO, which owns direct or indirect interests in all of the Company’s real estate properties. The Company owns, leases, develops, acquires, disposes of and operates regional and super-regional shopping centers. Its portfolio as of December 31, 2008, included 23 urban and suburban regional and super-regional shopping centers in ten states. Revenues generated by the centers is leasing to mall tenants (including temporary tenants and specialty retailers), which represents approximately 90% of revenues.