GGP Ggp Inc. (delisted)

General Growth Properties, Inc. will celebrate the groundbreaking of Otay Ranch Town Center on Tuesday, August 30th at 9:00 a.m. A continental breakfast and groundbreaking presentation for the 860,000 sq. ft. shopping venue will take place on site, at the intersection of Eastlake and Olympic Parkways. "General Growth is pleased to be providing a cutting edge design and retail lineup for the Chula Vista community," says CEO John Bucksbaum. "Otay Ranch Town Center will be a premier entertainment destination for Southern California and remains consistent with General Growth's vision of people creating special places and experiences." The 860,000 sq. ft. open-air project will be made up of four uniquely themed areas highlighting distinct California flavors. The Garden Court will be located on the west side of the project and will feature a popular mix of traditional retailers. Center Court, enjoying the central location of Otay Ranch Town Center, will feature fashionable retailers, a food pavilion, party space, fountains, chalk garden, and a fireplace. The Entertainment Court, located on the east, will include a book store, first class restaurants and a 12-screen AMC Theatre Cineplex. Lifestyle Row, on the far west side of the property, will feature upscale lifestyle retailers. "California living is relaxed, informal and sophisticated," explained Kris Longson, vice president of Development for General Growth Properties. "Otay Ranch Town Center was designed to suit that lifestyle - providing casual sophistication for this active community." The unique pedestrian and pet-friendly design of Otay Ranch Town Center will be highlighted during the event as the community is invited to bring their canine companions. Man's Best Friend will be treated to a gourmet doggie breakfast and have the opportunity to permanently leave their paw prints in the walking paths of the lifestyle center and Otay Ranch dog park. Participants in the groundbreaking festivities will be the first to hear the initial list of retailers planning to join AMC Theatres when Otay Ranch Town Center opens on October 27, 2006. General Growth Properties, Inc. is the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has ownership interest and management responsibility for a portfolio of 210 regional shopping malls in 44 states, as well as ownership in planned community developments and commercial office buildings. The Company portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. 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.generalgrowth.com.