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Simon Property Group Announces Opening of The Domain
   - 700,000 Square Feet of Luxury Retail and Mixed-Use Debuts in Austin -

AUSTIN, Texas, March 9 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG) today announced the opening of The Domain in Austin, Texas, which combines 700,000 square feet of luxury fashion and restaurant space, 75,000 square feet of Class A office space and 390 apartments catering to Austin's growing population.

The Domain is anchored by central Texas' first Neiman Marcus and Macy's. Of The Domain's 75 retailers, more than 30 high-end retailers and restaurants will make their Austin-area debuts at the property.

Stores range from innovative home decor retailers such as Z Gallerie to fashion retailers like Lilly Pulitzer and Juicy Couture. Other exclusive retailers include Tiffany, Intermix and Louis Vuitton.

New restaurants include Kona Grill, North, Daily Grill, Jasper's, Joe DiMaggio's Italian Chophouse, Fleming's Prime Steakhouse and California Pizza Kitchen.

"The Domain is a signature statement of 'Best-in-Class' retail, restaurants and residential," said Kathleen M. Shields, senior vice president of development at Simon. "We are thrilled to deliver this project to the city of Austin."

"The response from retailers and restaurants to The Domain has been terrific," said Vicki Hanor, executive vice president of leasing at Simon. "The site and our development is a perfect fit for Austin and our retailers are very excited to be part of the project."

Simon Property Group, Inc., an S&P 500 company headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership, development and management of retail real estate, primarily regional malls, Premium Outlet Centers(R) and community/lifestyle centers. The Company's current total market capitalization is approximately $52 billion. Through its subsidiary partnership, it currently owns or has an interest in 286 properties in the United States containing an aggregate of 202 million square feet of gross leasable area in 38 states plus Puerto Rico. Simon also owns interests in 53 European shopping centers in France, Italy, and Poland; 5 Premium Outlet Centers in Japan; and one Premium Outlet Center in Mexico. Additional Simon Property Group information is available at www.simon.com. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG.

The Domain was developed by Simon Property Group, Inc. in partnership with Endeavor Real Estate Group and residential partner Columbus Realty. Austin- based Endeavor Real Estate Group is a full-service real estate company with over 100 employees focused on retail, office industrial and mixed-use developments in the Southwest Region. Since forming in 1999, Endeavor has become one of the leading real estate firms in central Texas, developing or acquiring more than 7.8 million square feet of space with an overall value of nearly $1 billion. Adding to that, the company has about 7.4 million square feet currently under development.

SOURCE Simon Property Group, Inc.

/CONTACT: Investors, Shelly Doran, +1-317-685-7330, or Media, Les Morris, +1-317-263-7711, both of Simon Property Group, Inc.

/Web site: http://www.simon.com /

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