CONTACT: PREIT East Region Marketing Director
Debi Gilson, (215) 657-6000 x4227 Cell: (267)-767-8525 Simon Public Relations Group, Inc. Meredith Wertz (215) 545-4715 x31 Cell: (610) 745-3760

PREIT’s Holiday Sweepstakes at Nine Philadelphia Area Malls Gives Lucky Shoppers a Chance to Win $25,000, Just in Time for Gift-Giving
Pennsylvania Real Estate Investment Trust announces Holiday ’09 Unwrapped campaign PHILAELPHIA, PA – November 23, 2009 – Pennsylvania Real Estate Investment Trust (PREIT) malls — which includes Cumberland Mall, Cherry Hill Mall, Exton Square Mall, The Gallery at Market East, Moorestown Mall, Plymouth Meeting Mall, Springfield Mall, Voorhees Town Center, and Willow Grove Park —has announced its Holiday ’09 Unwrapped campaign. The campaign, which features a $25,000 Sweepstakes and value-added shopping promotions, is designed to stimulate shopping by providing consumers with excitement, unexpected value, and engagement, whether they are in one of PREIT’s malls or visiting a mall website. The campaign hallmark is a Holiday $25,000 Sweepstakes, which runs from November 27 through December 13 and gives shoppers a chance to win $25,000 cash. Shoppers redeem store receipts for a chance to enter. For every $75 spent, they get a themed chocolate bar—which, once it’s unwrapped, reveals a contest entry form on the candy packaging. An alternative form of entry is also available; complete contest rules are available at PREIT malls and their websites. Each mall will select two semi-finalists each day from its Sweepstakes entries, and will host an event in mid-December to ―unwrap‖ a single shopper finalist. Finalists unwrap three gifts to see if they have won the $25,000 cash grand prize, $1,000 cash, or another prize. All semi-finalists receive qualifier prizes. ―Shoppers deserve the promise of quality and value for their holiday shopping,‖ said Debi Gilson, PREIT’s East Region Marketing Director, ―Our retailers deliver that year-round, but PREIT wanted to give our shoppers even more than they expect this year.‖

Other elements of Holiday ’09 Unwrapped include an interactive and retooled holiday website to ―unwrap shopper stress,‖ and plenty of early-shopper benefits including a 5 am-opening, free earlymorning refreshments, entertainment and giveaways at some properties, and the Sweepstakes kick-off on Black Friday. Starting December 14, PREIT’s Holiday Gift Card Promotion rewards the purchase of three or more gift cards totaling at least $150 with an instant $10 mall gift card reward (while supplies last) through Christmas Eve. As a retail-supporter of American Express, gift cards have no fees beyond their initial purchase cost. As seasonal music echoes throughout and families disperse to find the perfect gift for one another, PREIT’s nine Philadelphia area malls are bustling with the holiday spirit. To make shopping easier this holiday season, the malls’ websites feature holiday information including interactive, festive tools such as a holiday checklist, letters to Santa, and a free e-card as well as extended mall holiday hours, Santa photos, gift cards, and mall retailer promotions. Holiday trends and tips are also featured, giving shoppers great gift ideas, holiday recipes, and suggestions for party planning, and a ―Countdown to Christmas‖ clock ticks away minute by minute, showing shoppers how much time is remaining to buy those last minute holiday gifts. PREIT, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls and community centers. Currently, the Company’s portfolio consists of 54 retail properties including 38 shopping malls, 13 community centers, and three properties under development. The Company’s properties are located in the eastern half of the United States, primarily in the Mid-Atlantic region. PREIT is headquartered in Philadelphia, Pennsylvania. The Company's website can be found at PREIT is publicly traded on the NYSE under the symbol PEI. ###

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