August 23, 2012

News Release: General Growth Properties, Inc.

CHICAGO, Aug. 23, 2012 /PRNewswire/ -- General Growth Properties, Inc. (NYSE:GGP) issued the following statement in response to a Schedule 13D Amendment filed today with the Securities and Exchange Commission by Pershing Square Capital Management:

The GGP Board of Directors and its management team are committed to acting in the best interests of the Company and all its shareholders, and we regularly engage with all our shareholders.  We will carefully review Pershing Square's letter.

About GGP
General Growth Properties, Inc. is a fully integrated, self-managed and self-administered real estate investment trust focused on owning, managing, leasing, and redeveloping regional malls throughout the United States and Brazil. GGP currently owns, or has an interest in, 149 regional shopping malls comprising approximately 141 million square feet of gross leasable area. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.  For further information please visit the GGP website at www.ggp.com.

Investors:

Media:

Kevin Berry, Vice President of Investor Relations

David Keating, Vice President of Corporate Communications

kevin.berry@ggp.com

david.keating@ggp.com

(312) 960-5529

(312) 960-6325

SOURCE General Growth Properties, Inc.

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