Simon Property Group Acquires 100% Ownership Of Upscale Outlet Centers In Grand Prairie, Texas And Livermore, California

  Simon Property Group Acquires 100% Ownership Of Upscale Outlet Centers In
                Grand Prairie, Texas And Livermore, California

PR Newswire

INDIANAPOLIS, Dec. 5, 2012

INDIANAPOLIS, Dec.5, 2012 /PRNewswire-FirstCall/ -- Simon Property Group,
Inc. ("Simon") (NYSE:SPG) announced today that it has completed the
acquisition of Paragon Outlets Grand Prairie in Grand Prairie, Texas and
Paragon Outlets Livermore Valley in Livermore, California. Simon now owns 100%
of each asset.

The 417,000 square foot Grand Prairie center, serving the Dallas-Fort Worth
metropolitan area, is home to more than 100 leading designer and name brand
outlet stores including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet
Store, Coach, Cole Haan, DKNY, Hugo Boss, Kate Spade New York, J.Crew, Michael
Kors, Nike and Tommy Hilfiger. The center opened in August of 2012 and is
100% leased.

The 512,000 square foot Livermore center, located in the affluent East Bay
area of San Francisco, is home to 130 leading designer and name brand outlet
stores including Saks Fifth Avenue OFF 5TH, Bloomingdale's The Outlet Store,
Last Call by Neiman Marcus, Armani, Barneys New York, Coach, DKNY, Elie
Tahari, Kate Spade New York, J.Crew, Lacoste, Michael Kors, Prada and Tommy
Hilfiger. The center opened in November of 2012 and is 100% leased.

Simon has assumed management responsibilities and the centers will be renamed
Grand Prairie Premium Outlets® and Livermore Valley Premium Outlets®.

"We are pleased to add these two highly productive centers to our portfolio,"
said John R. Klein, President of Simon's Premium Outlets platform. "The
projects have been very well received by merchants and shoppers, they are
wonderful additions to our business, and they will be immediately accretive to
our earnings."

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 www.simon.com.

SOURCE Simon Property Group, Inc.

Website: http://www.simon.com
Contact: Investors, Shelly Doran, +1-317-685-7330, or Media, Les Morris,
+1-317-263-7711