GGP Ggp Inc. (delisted)

General Growth Properties, Inc. (NYSE: GGP) announced another closing today as part of the staged funding of its $1.75 billion secured portfolio facility. This brings the total amount outstanding under the facility to $1.51 billion, thereby exceeding the funding level necessary to eliminate the reserve requirement and terminate any possibility that the Company would be obligated to make partial prepayments under the facility. The Company increased the initial repayment guaranty to one half of the outstanding facility in order to facilitate this funding and anticipates that this change will facilitate obtaining the total $1.75 billion under the facility. No other terms of the secured portfolio facility were modified. General Growth is one of the largest U.S.-based publicly traded Real Estate Investment Trusts (REIT) based upon market capitalization. The Company currently has ownership interest in, or management responsibility for, a portfolio of 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 and includes over 24,000 retail stores nationwide. The Company is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the Company website at http://www.ggp.com. This press release contains forward-looking statements, including information regarding our expected liquidity and future financing transactions that have not yet closed. 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 indebtedness and interest rates, market conditions, land sales in the Master Planned Communities segment, the cost and success of development and re-development projects and our ability to successfully manage growth. Readers are referred to the documents filed by General Growth Properties, Inc. with the SEC, specifically the most recent report on Forms 10-K and 10-Q, 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.