INDIANAPOLIS, Feb. 6 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) today announced that its Board of Directors declared regular quarterly dividends for the Company's common and preferred stock and the preferred stock of its affiliate, SPG Properties, Inc.

The common stock dividend of $0.5050 per share will be paid on February 28, 2001 to shareholders of record on February 16, 2001.

Simon Property Group's 6.50% Series B Convertible Preferred Stock (NYSE: SPGPrB) dividend of $1.625 per share is payable April 2, 2001 to shareholders of record on March 19, 2001.

SPG Properties, Inc. Series B Cumulative Redeemable Preferred Stock (NYSE: SGVPrB) dividend of $0.546875 per share is payable April 2, 2001 to shareholders of record on March 19, 2001.

SPG Properties, Inc. 7.89% Series C Cumulative Preferred Stock dividend of $0.98625 per share is payable April 2, 2001 to shareholders of record on March 19, 2001.

Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers. It currently owns or has an interest in 251 properties containing an aggregate of 185 million square feet of gross leasable area in 36 states and five assets in Europe. Together with its affiliated management company, Simon owns or manages approximately 191 million square feet of gross leasable area in retail and mixed-use properties. Shares of Simon Property Group, Inc. are paired with beneficial interests in shares of stock of SPG Realty Consultants, Inc. Additional Simon Property Group information is available at www.shopsimon.com . SOURCE Simon Property Group

CONTACT: Investors, Shelly Doran, 317-685-7330, or Media, Billie Scott, 317-263-7148, both of Simon Property Group, Inc./