KATE SPADE JOINS PREMIER RETAIL LINE UP AT PIONEER PLACE

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For Immediate Release Media Contact: Sandra Rollinson Senior Marketing Manager | Pioneer Place 503.228.5800 KATE SPADE JOINS PREMIER RETAIL LINE UP AT PIONEER PLACE PORTLAND, Ore., (February 12, 2008) – Pioneer Place, Oregon’s premier fashion and luxury shopping center, today announced the addition of Kate Spade to its exclusive retail line up. The new 1,447square-foot Kate Spade store opens May 14, 2008. The boutique will carry Kate Spade’s full line, including home, paper and table top. Located on the street level of the Atrium Pavilion, this will be the first Kate Spade store in the Northwest. A limited edition tote has been designed to celebrate the opening and will be sold exclusively at the Pioneer Place boutique while supplies last. “Pioneer Place is the premier shopping destination in Oregon. The addition of Kate Spade complements our existing collection of shops and restaurants, including Oregon’s only Louis Vuitton, Tiffany & Co. and Saks Fifth Avenue,” said Robert Buchanan, senior general manager for Pioneer Place. “Our goal is to bring retailers to the property that our customers will enjoy.” About Pioneer Place Pioneer Place is the heart of downtown Portland shopping with its collection of market-exclusive luxury retailers, fashionforward boutiques and one-of-a-kind shops and restaurants. The center is anchored by Oregon’s only Saks Fifth Avenue as well as a Class A office tower. About General Growth Properties General Growth Properties, Inc. is one of the largest U.S.-based publicly traded real estate investment trusts (REIT), based upon market capitalization. Best-known for its ownership or management of more than 200 shopping malls in 45 states, General Growth is also a leading developer of master-planned communities and mixed-use properties. It has ownership interest in master-planned communities in Texas, Maryland and Nevada and in smaller mixed-use projects under development in additional locations. Its shopping center portfolio totals approximately 200 million square feet of retail space accommodating more than 24,000 retail stores nationwide. General Growth’s international portfolio includes ownership and management interest in shopping centers in Brazil and Turkey. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the company web site at http://www.ggp.com.

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