Article: Lightstone and Prime Retail Amend Merger Agreement.

Prime Retail, Inc. (the "Company") (BULLETIN BOARD: PMRE, PMREP, PMREO) and The Lightstone Group, LLC ("Lightstone"), a New Jersey-based real estate company, announced today that they amended the merger agreement (the "Merger Agreement") entered into on July 8, 2003 between Prime Outlets Acquisition Company, LLC (the "Buyer"), a Delaware limited liability company which is an affiliate of Lightstone, and the Company, which provides for the Company to be merged with the Buyer (the "Acquisition").

The amendment increases the aggregate consideration payable to the Company's shareholders and unit holders from $115,000,000 to $115,514,000 and reflects a revised ...

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