Simon Announces Comprehensive Transformation of Del Amo Fashion Center in Torrance, California

  Simon Announces Comprehensive Transformation of Del Amo Fashion Center in
                             Torrance, California

- Nordstrom to Open in 2015 As Part of Redevelopment Effort -

PR Newswire

INDIANAPOLIS, Dec. 3, 2012

INDIANAPOLIS, Dec. 3, 2012 /PRNewswire/ -- Simon Property Group, Inc. (NYSE:
SPG), the world's leading retail real estate company, is pleased to announce a
comprehensive transformational redevelopment of Del Amo Fashion Center in
Torrance, California, the iconic 2.3 million square foot super-regional
shopping center serving the upscale South Bay market of greater Los Angeles.

In conjunction with the announcement of Simon's redevelopment plans,
Seattle-based Nordstrom, Inc. (NYSE: JWN) today also announced its intention
to relocate its full-line store at South Bay Galleria to Del Amo Fashion
Center. The new Nordstrom store will be 138,000 square-feet on two levels, and
is expected to open in 2015.

Del Amo Fashion Center is owned by Simon Property Group, Inc. and
institutional investors advised by J.P. Morgan Asset Management.The
announcement of Nordstrom's arrival at Del Amo Fashion Center marks one of
many significant upgrades Simon will undertake over two years to one of the
most recognized and successful enclosed shopping malls in America.

The redevelopment will commence in spring 2013by replacing the existing food
court with a transformedgarden-inspired dining area and renovating the
interior of a portion of the north mall, which will be completed by holiday

Starting in early 2014,the redevelopment will include the demolition of the
remaining portion of the original north mall, replacing it with a new state of
the art two-level mall to connect the existing Macy's women's store with the
new Nordstrom store (to be located near the intersection of Hawthorne
Boulevard and Fashion Way).

The redevelopment will also include enhancements to the ambience of the
outdoor lifestyle village, the addition of a 1,800 car parking garage,
planting of lush landscaping, upgraded parking throughout the entire mall
property, new identity and informational signage, and improvements to
facilitate customer circulation in and around the property. Completion
ofthis workwill be timed with the grand opening of Nordstrom in 2015.

"Today's announcement by Nordstrom that they will be relocating to Del Amo
Fashion Center as a part of our redevelopment is consistent with our objective
to create dynamic retail environments for our retailers and customers," said
David Contis, President of Simon's Mall Platform. "We expect to expand the
trade area of Del Amo Fashion Center and solidify its reputation as one ofthe
nation's most successful malls."

About Simon Property Group

Simon Property Group, Inc. (NYSE: SPG) is an S&P 100 company and the largest
real estate company in the world. The Company currently owns or has an
interest in 331 retail real estate properties in North America and Asia
comprising 241 million square feet. We are headquartered in Indianapolis,
Indiana and employ approximately 5,500 people in the U.S. For more
information, visit the Simon Property Group website at

About Nordstrom

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers.
Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 240
stores in 31 states, including 117 full-line stores, 119 Nordstrom Racks, two
Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom
also serves customers through and through its catalogs.
Additionally, the Company operates in the online private sale marketplace
through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly
traded on the NYSE under the symbol JWN.

About J.P. Morgan Asset Management – Global Real Assets

J.P. Morgan Asset Management – Global Real Assets has approximately $63.2
billion in assets under management and more than 400 professionals in the
U.S., Europe and Asia, as of September 30, 2012. With a 40-plus-year history
of successful investing, J.P. Morgan Asset Management – Global Real Assets'
broad capabilities provide many of the world's most sophisticated investors
with a global platform of real estate, infrastructure, maritime/transport and
energy strategies driven by local investment talent with disciplined
investment processes consistently implemented across asset types and regions.

SOURCE Simon Property Group, Inc.

Contact: Les Morris, Simon Property Group, +1-317-263-7711,
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