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Press Release

Neiman Marcus is Coming to Town Center at Boca

INDIANAPOLIS, Jan. 9 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG) announced today that Neiman Marcus is joining the outstanding retail lineup at Town Center at Boca in Boca Raton, Florida. The legendary Dallas-based retailer is scheduled to occupy about 130,000 square feet and will join Bloomingdale's, Burdines, Nordstrom, Saks, and Sears as anchors. Neiman Marcus will take over space previously occupied by Lord and Taylor, a division of the May Department Stores Company.

"We are very pleased to be able to join such a strong retail lineup at Town Center at Boca," according to Wayne Hussey, senior vice president of properties for Neiman Marcus. "Florida has been an incredibly strong growth market for Neiman Marcus over the past five years, and our entry into Town Center at Boca fills a very important void on the East Coast of Florida."

Neiman Marcus is scheduled to open in the fall of 2005 at Town Center at Boca. The shopping center was built in 1980 and acquired by SPG in 1998.

"We're thrilled to welcome Neiman Marcus to Town Center at Boca," said Richard S. Sokolov, president and chief operating officer of SPG. "They are an ideal fit for our Town Center customer who expects nothing less than extraordinary merchandise and service."

The Neiman Marcus Group, Inc. includes the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Chef's Catalog brand names. Information about the Company can be accessed at .

Simon Property Group, Inc. (NYSE: SPG), headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership and management of income-producing properties, primarily regional malls and community shopping centers. Through its subsidiary partnerships, it currently owns or has an interest in 245 properties containing an aggregate of 190 million square feet of gross leasable area in 37 states, as well as ownership interests in other real estate assets in the United States. The Company holds interests in 47 assets in Europe (in France, Italy and Poland) and Canada. Additional Simon Property Group information is available at .

SOURCE Simon Property Group, Inc.

CONTACT: Les Morris of Simon Property Group, +1-317-263-7711; or Mark E.
Schaaf of Neiman Marcus, +1-214-573-5635/