GGP Finances $1.2 Billion Of Property-Level Debt

               GGP Finances $1.2 Billion Of Property-Level Debt

INTEREST RATE DECREASES FROM 4.62% TO 3.65%

PR Newswire

CHICAGO, Nov. 14, 2012

CHICAGO, Nov. 14, 2012 /PRNewswire/ -- General Growth Properties, Inc.
(NYSE:GGP) ("GGP" or the "Company") today announced $1.2 billion of
property-level financings. The new loans have a weighted average interest rate
and term of 3.65% and 8.4 years, respectively, as compared to a rate of 4.62%
and a remaining term-to-maturity of approximately one year for the prior
loans. The transactions generated approximately $545 million of net proceeds.
Information regarding each transaction is provided below:

                                   Prior Loan Terms                  New Loan Terms
                         Financing         Balance Interest Maturity         Balance Interest Maturity
Mall        Location     Date      Balance at GGP  Rate(a)  Date     Balance at GGP  Rate(a)  Date
                                           Share                             Share
                                   (in millions)                     (in millions)
Newgate     Ogden, UT    November  $38     $38     4.84%    April    $58     $58     3.69%    June
Mall                     2012                               2014                              2020
Fashion     Murray, UT   November  132     132     5.30%    April    227     227     3.64%    June
Place                    2012                               2014                              2020
Town East   Mesquite, TX November  95      95      3.46%    January  160     160     3.56%    June
Mall                     2012                               2014                              2020
Tucson Mall Tucson, AZ   November  111     111     4.26%    January  246     246     4.01%    June
                         2012                               2014                              2020
Visalia     Visalia, CA  November  36      36      3.78%    January  74      74      3.71%    June
Mall                     2012                               2014                              2020
Coastland   Naples, FL   November  -       -       -        -        130     130     3.76%    November
Center                   2012                                                                 2022
Bridgewater Bridgewater, November  124     43      5.27%    January  300     105     3.34%    November
Commons     NJ           2012                               2013                              2022
                         Grand     $536    $455    4.62%             $1,195  $1,000  3.65%
                         Totals

(a) Grand Total interest rate calculated based on total loan balance.

During 2012, the Company has completed 32 financings totaling approximately
$7.9 billion ($7.0 billion at share) of property-level financings generating
approximately $1.4 billion of net proceeds. As a result of these transactions,
the average interest rate decreased 110 basis points from 5.30% to 4.20%. The
Company has no further property-level debt maturing in 2012.

As previously disclosed, the Company has called for early redemption of its
6.75% unsecured notes due May 2013 (approximately $600 million). The
redemption will occur on December 3, 2012, at the "Make Whole Price", as
defined in the applicable indenture.

General Growth Properties, Inc.

General Growth Properties, Inc. is a fully integrated, self-managed and
self-administered real estate investment trust focused on owning, managing,
leasing, and redeveloping regional malls throughout the United States and
Brazil. GGP currently owns or has an interest in, 144 regional shopping malls
comprising approximately 136 million square feet of gross leasable area. GGP
is headquartered in Chicago, Illinois, and publicly traded on the NYSE under
the symbol GGP. For further information please visit www.ggp.com .

Investor Relations Contact:            Media Contact:
Kevin Berry David Keating
VP Investor Relations                 VP Corporate Communications
(312) 960-5529              (312) 960-6325
kevin.berry@ggp.com                  david.keating@ggp.com

SOURCE General Growth Properties, Inc.

Website: http://www.ggp.com
 
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