MAC Macerich Co

Partnership to launch new mall gift card products and marketing programs SANTA MONICA, Calif., June 30 /PRNewswire/ -- Macerich(R) (NYSE:MAC) today announced a strategic alliance with American Express, which will become the new gift card provider and marketing partner for Macerich shopping centers across the United States. Under the five-year agreement American Express will create a specially branded open loop gift card for Macerich. The partnership also includes the opportunity for marketing and promotional programs to explore new ways to effectively reach shoppers. "American Express brings us a level of quality and innovation that aligns with our own focus on delivering outstanding retail experiences for our consumers and our retail partners," said Tony Grossi, COO of Macerich. "American Express understands consumer shopping behavior and excels at marketing their products while Macerich properties offer American Express a great opportunity to reach high-quality consumers and affect their purchasing decisions. We think this is a great match." Macerich, one of the nation's leading owners, managers and developers of regional shopping centers, has properties in markets across the U.S., from Queens Center in New York City and Scottsdale Fashion Square in Arizona to Broadway Plaza in Walnut Creek, Calif. "We're thrilled to be joining with Macerich because of its proven ability to create a high-quality shopping experience that drives strong sales results for its tenants," said Stefan Happ, general manager, American Express Prepaid Cards. "This partnership makes sense on a number of levels. Macerich's portfolio of retail properties is a new channel to offer American Express Gift Cards to high-spending consumers, and we look forward to working with Macerich to deepen its relationship with shoppers." Macerich plans to introduce the new American Express gift card at its shopping centers this fall. Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The company is the sole general partner and owns an 85% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 77 million square feet of gross leaseable area consisting primarily of interests in 72 regional malls. Additional information about Macerich can be obtained from the Company's Web site at http://www.macerich.com/. American Express Company (http://www.americanexpress.com/) is a leading global payments, network and travel company founded in 1850. American Express is the nation's largest issuer of open-system gift cards. The American Express(R) Gift Card is available in denominations ranging from $25 to $500 and can be refunded if lost or stolen. Terms, conditions and purchase/replacement fees apply to Gift Cards. Note: This release contains statements that constitute forward-looking statements. Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to vary materially from those anticipated, expected or projected. Such factors include, among others, general industry, economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates and terms, interest rate fluctuations, availability and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities which could adversely affect all of the above factors. The reader is directed to the Company's various filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2006, for a discussion of such risks and uncertainties which discussion is incorporated by reference. DATASOURCE: Macerich CONTACT: Anita Walker of Macerich, +1-602-953-6550; or Rob Sherman of American Express Company, +1-212-640-6221 Web site: http://www.macerich.com/ http://www.americanexpress.com/

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