CBL & ASSOCIATES PROPERTIES INC — Director's Dealing 2012

May 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CBL & ASSOCIATES PROPERTIES INC (CBL)
CIK: 0000910612
Period of Report: 2012-05-01

Reporting Person: Grody Howard B. (Sr. VP - Leasing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-01	Common Stock	J	5.32	$18.7956	Acquired	17832.6587	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10	Indirect
Common Stock	10	Indirect

Footnotes

F1: The shares were acquired via the Company's Employee Stock Purchase Plan.