Simon Property Group’s initial public offering closed in December of 1993 at a price of $22.25 per share. Simon Property Group‘s common stock trades on the New York Stock Exchange under the ticker symbol "SPG."

A REIT is a corporation or business trust that combines the capital of many investors to acquire or provide financing for all forms of real estate. A REIT serves much like a mutual fund for real estate in that retail investors obtain the benefit of a diversified portfolio under professional management. Its shares are freely traded, usually on a major stock exchange.
A REIT generally does not pay corporate income tax to the Internal Revenue Service, which is a unique feature shared only with mutual funds. Nearly all of a REIT's income can be distributed to shareholders, and there is no double taxation of the income to the shareholder.
Simon Property Group is a REIT specializing in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.

The Company considers Funds from Operations ("FFO") a key measure of its operating performance that is not specifically defined by GAAP and believes that FFO is helpful to investors because it is a widely recognized measure of the performance of REITs and provides a relevant basis for comparison among REITs. The Company also uses this measure internally to measure the operating performance of the portfolio. The Company's computation of FFO may not be comparable to FFO reported by other REITs.

The Company determines FFO based upon the definition set forth by the National Association of Real Estate Investment Trusts ("NAREIT"). The Company determines FFO to be our share of consolidated net income computed in accordance with GAAP, excluding real estate related depreciation and amortization, excluding gains and losses from extraordinary items, excluding gains and losses from the sales of previously depreciated operating properties, plus the allocable portion of FFO of unconsolidated joint ventures based upon economic ownership interest, and all determined on a consistent basis in accordance with GAAP.

The Company has adopted NAREIT's clarification of the definition of FFO that requires it to include the effects of nonrecurring items not classified as extraordinary, cumulative effect of accounting changes, or a gain or loss resulting from the sale of previously depreciated operating properties. We include in FFO gains and losses realized from the sale of land, outlot buildings, marketable and non-marketable securities, and investment holdings of non-retail real estate. However, you should understand that FFO does not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income determined in accordance with GAAP as a measure of operating performance, and is not an alternative to cash flows as a measure of liquidity.

Series J 8.375% Cumulative Redeemable, ticker: SPGPrJ
Distributions: Payable quarterly in the amount of $1.046875 per share on or about the last day of March, June, September and December. Annual dividend = $4.1875. Liquidation preference = $50 per share.

Senior unsecured debt is rated A- (Stable Outlook) by Standard & Poor’s, A3 (Stable Outlook) by Moody’s and A- (Stable Outlook) by Fitch. Preferred stock is rated BBB (Stable Outlook) by Standard & Poor’s, Baa1 (Stable Outlook) by Moody’s and BBB (Stable Outlook) by Fitch. Standard & Poor’s corporate rating for Simon Property Group is A- (Stable Outlook).

Simon Property Group offers an Shareowner Services Program for present shareholders of record which allows them to enroll in dividend reinvestment or to make changes to their dividend reinvestment. You can find additional information on this Web site on the Shareowner Services Program page.

You can find historical stock prices on the Price Lookup page.

Holders of Simon Property Group's common and preferred stock receive 1099s. Holders of Simon Property Group's limited partnership units receive K-1s. The company is required to mail 1099s to shareholders by January 31st and K-1s by July 15th.

To be the preeminent developer, owner and manager of retail real estate. To create and continually enhance stockholder value through the ownership of a high quality portfolio of premier properties and a commitment to our employees, our customers, our retailer and business partners and the communities in which we operate.

These documents are located on this Website in the Financial Information section. You may also contact:
Simon Property Group, Investor Relations
P.O. Box 7033
Indianapolis, IN 46207
Telephone: 317.636.1600
Click here to contact investor relations.

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