GGP Ggp Inc. (delisted)

General Growth Properties, Inc. (NYSE:GGP) announced today it has signed an agreement to obtain control over nine department store locations from Federated Department Stores, Inc. totaling approximately 1.4-million square feet of retail space. The following locations are included in the sale agreement: -- FILENE'S (The Maine Mall - Portland, ME) - main store; 125,000 square feet; opened in 1983; -- FILENE'S (The Maine Mall - Portland, ME) - men's/home; 41,000 square feet; opened in 1983; -- MACY'S (Natick Mall - Natick, MA) - 211,000 square feet; opened in 1994; -- MACY'S (Montclair Plaza - Montclair, CA) - 147,000 square feet; opened in 1968; -- MACY'S (North Star Mall - San Antonio, TX) - 178,000 square feet; opened in 1997; -- MACY'S (Stonebriar Centre - Frisco, TX) - 210,000 square feet; opened in 2000; -- MACY'S (Tucson Mall - Tucson, AZ) - 138,000 square feet; opened in 1982; -- ROBINSONS-MAY (Valley Plaza Shopping Center - Bakersfield, CA) - 124,000 square feet; opened in 1988; -- STRAWBRIDGE'S (Christiana Mall - Newark, DE) - 214,000 square feet; opened in 1978 "This acquisition is a great opportunity for General Growth to continue advancing our VISION of 'People Creating Special Places and Experiences'," said John Bucksbaum, chief executive officer of General Growth Properties. "These store locations are prime real estate for us to transform them into retail and entertainment destinations. We can replace them with another exciting department store or we could transform the space into a collection of retail shops and restaurants. The opportunities are endless." The remaining locations where there is overlap are expected to be transferred directly from Federated to other retailers. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to, the retail market, tenant occupancy and tenant bankruptcies, the level of the Company's indebtedness and interest rates and the Company's ability to successfully manage its growth. Readers are referred to the documents filed by General Growth Properties, Inc. with the SEC, specifically the most recent report on Form 10-K, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. The Company disclaims any obligation to update any forward-looking statements. ABOUT GENERAL GROWTH PROPERTIES General Growth Properties, Inc. is the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 44 states, as well as ownership in planned community developments and commercial office buildings. The 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.