General Growth Properties, Inc. - Six New Forever 21 Stores Slated to Open in GGP Malls Across the Country

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Six New Forever 21 Stores Slated to Open in GGP Malls Across the Country

Six GGP Forever 21 locations will be larger in square footage than average Forever 21 stores

CHICAGO, Aug 31, 2009 (BUSINESS WIRE) -- General Growth Properties, Inc. today announced it has signed deals with fashion retailer Forever 21 for six new stores at GGP malls serving the five metropolitan areas of Houston, San Antonio, Louisville, Las Vegas and Birmingham.

Celebrated by many style-conscious shoppers, Forever 21 is the source for the most current fashions at the greatest value. The six locations total 580,000 square feet of space and all are planned to open in 2010. These Forever 21 locations are larger in square footage than average Forever 21 stores, offering a larger selection of apparel and merchandise.

BAYBROOK MALL (Friendswood, TX)
Baybrook Mall is a 1.2 million-square-foot super regional mall located 18 miles from downtown Houston.

THE WOODLANDS MALL (The Woodlands, TX)
This 1.3 million-square-foot mall near Houston boasts six sit-down restaurants, in addition to more than 200 top name retailers.

NORTH STAR MALL (San Antonio, TX)
North Star Mall is conveniently situated in the heart of San Antonio, with more than 200 specialty retailers and restaurants.

MALL ST. MATTHEWS (Louisville, KY)
With 1.1 million square feet, Mall St. Matthews boasts more than 30 retailers unique to the market, including Aeropostale, Ann Taylor Loft, Arhaus, Aveda, bebe and many others.

FASHION SHOW (Las Vegas, NV)
Fashion Show is the largest shopping destination on Las Vegas Boulevard with six flagship department stores.

RIVERCHASE GALLERIA (Birmingham, AL)
More than 150 retailers and restaurants in this 1.5-million-square-foot shopping center serve the Birmingham, Alabama area.

"When our customers visit GGP shopping centers, we want them to discover an ever-improving mix of shopping and entertainment experiences," said Adam Metz, chief executive officer of General Growth Properties, Inc. "Our partnership with Forever 21 gives us a chance to introduce an extremely popular retailer who is a market leader at combining great fashions with realistic prices. Today, that is just what people are looking for."

Forever 21's latest Fashion Department Store concept is based on its strong brand foundation of the latest fashion at affordable prices. Headquartered in Los Angeles, Forever 21 has built a consumer franchise over the past 25 years that is known for offering the hottest fashion trends at a great value. Forever 21's model of fast fashion works by keeping the store exciting with fresh merchandise offerings brought in daily.

Forever 21, Inc.

"We are very pleased to open six new fashion department stores in strong GGP malls so that we can offer more merchandise categories having the fashion and affordability that is Forever 21. We are also pleased to be adding jobs at this challenging time," said Don Chang, founder and CEO.

The retailer operates hundreds of stores in the United States, with international operations in Canada, Japan, Korea, the Middle East and Southeast Asia.

GENERAL GROWTH PROPERTIES, INC.

GGP currently has ownership interest in, or management responsibility for, more than 200 regional shopping malls in 44 states, as well as ownership in master planned community developments and commercial office buildings. The Company's portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. GGP's common stock is trading in the pink sheets under the symbol GGWPQ. For more information, please visit www.ggp.com.

SOURCE: General Growth Properties, Inc.

General Growth Properties, Inc.
David Keating, Corporate Communications, (312) 960-6325

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