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April 11, 2004

Shopping Paradise Found
The Woodlands Mall Expansion To Officially Open May 19, 2004


The much anticipated "lifestyle" expansion at the Woodlands Mall will officially open on Wednesday, May 19, 2004! The expansion, which adds 150,000 square feet of outdoor streetscape retail and restaurants, includes Ann Taylor Loft, ANTHROPOLOGIE, Barnes and Noble Booksellers, Brio Tuscan Grille, Flemings Steakhouse and Wine Bar, Janie and Jack, Mikasa, Panera Bread Bakery & Cafe, P.F. Chang's China Bistro, Pottery Barn, Pottery Barn Kids, Rockfish Seafood Grill, The Cheesecake Factory, Urban Outfitters, White House/Black Market, and Williams-Sonoma. The expansion will connect The Woodlands Mall to The Woodlands Waterway - a linear park more than a mile long where shoppers will be able to stroll, ride a water taxi, or take a trolley to exciting shops and entertainment. In addition, the project includes 37,000 square feet of Class A office space. It is the first of its kind in the Houston area and a first for General Growth Properties.

"The new expansion features the exceptional retailers and environment shoppers expect from an urban shopping experience right here in The Woodlands," comments Jill Liccioni, Senior General Manager, The Woodlands Mall. In short - Shopping Paradise Found! Streetscape retail is a growing trend in the shopping center industry. Combining it with an existing enclosed mall and a stellar lineup of restaurants adds a depth of experience that is rarely found in a suburban shopping center, creating a special shopping/dining/entertainment experience. As such, ANTHROPOLOGIE and Janie and Jack have chosen The Woodlands Mall as their first suburban locations in the Houston market. Brio Tuscan Grille chose the project as its first location in Texas! The Woodlands Mall is also the first location in the United States to have both Urban Outfitters and ANTHROPOLGIE in the same mall.

A Grand Opening celebration themed around "Shopping Paradise" will be held May 19 - 23, 2004. A special Purchase With Purchase offer will offer shoppers a luxurious Spa Robe for $20 with a qualifying purchase. All proceeds will benefit the Children's Miracle Network. Shoppers will also enjoy free entertainment ranging from music to children's entertainers as well as special "experience" retailers such as caricature artists and balloon sculpture artists throughout the center. "Experience Shopping Paradise" themed prizes will be given away each day of the celebration. Shoppers will also experience the center's new amenities for the first time, including family restrooms, lounge seating, new food court furnishings, an outdoor patio dining area, a lush water feature, and expanded customer services including restaurant seating assistance.


About General Growth Properties

THE WOODLANDS MALL is owned and managed by General Growth Properties, Inc. General Growth Properties is the country's second largest shopping center owner, manager and developer. General Growth currently has ownership interest in, or management responsibility for, a portfolio of 172 regional shopping malls in 41 states. The company portfolio totals approximately 148-million square feet of retail space and includes over 16,000 retailers nationwide. A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP. For more information on General Growth Properties and its portfolio of malls, please visit the company web site at www.generalgrowth.com


About The Merchants…

Ann Taylor Loft: A women's apparel and accessory brand that offers the updates classic style of Ann Taylor with a more relaxed sensibility. Offering dresses, separates, career wear, accessories, sleepwear, and sportswear, Loft is a favorite among professional woman and caters to the active professional lifestyle.

ANTHROPOLOGIE: Founded in 1992, Anthropologie is run by a small group of people dedicated to bringing the best of other cultures into our own. Stores include apparel, home, accessories, and gifts. Buyers spend well over half the year traveling through Europe, India and the Far East, combing through flea markets, antique shops and estate sales for inspiration. Once a design is developed, it is carefully reproduced in limited quantities for customers. Everything in the store is exclusive to Anthropologie and unconditionally guaranteed.

Barnes and Noble Booksellers: The nation's largest bookseller, Barnes and Noble employs 40,000 booksellers in 800 stores in 49 states. Founder Leonard Riggio saw bookstores as community centers; places "where people could be and become." Everything from the design of the stores to the selection of titles to the training of booksellers reflects this philosophy. Barnes and Noble offers extensive title selection, in-store cafes, and exceptional children's sections!

Brio Tuscan Grille: Brio brings the pleasures of the Tuscan country villa to the American city. This food at Brio is all simply prepared using the finest and freshest ingredients. The menu emphasis is on prime steaks and chops, homemade pasta specialties, and flatbreads prepared in an authentic Italian wood-burning oven. Brio's villa-like interior features arched colonnades, hand-crafted Italian mosaics, Venetian plaster walls and marble countertops. Brio has among the highest average unit sales in the industry and was voted the 2002 "Hot Concepts" winner (Nation's Restaurant News).

Fleming's Steakhouse and Wine Bar: Fleming's is an exciting new steakhouse concept designed to stand as an ongoing celebration of the best in food, wine, and the company of friends and family. The menu features the finest in prime beef, augmented by a variety of chops, fish, chicken, generous salads, inventive side orders and indulgent desserts. The innovative wine list offers some of the finest wines in the world, over 100 of them available by the glass. The whole Fleming's experience is devoted to the stylish and lively pleasures of contemporary dining.

Janie and Jack: The newest addition to The Gymboree Corporation's family of specialty retail brands, Janie and Jack offers distinctive, finely crafted clothing and accessories for babies sizes Preemie to 3T, in addition to personalized customer service and gift packaging. The Gymboree Corporation operates over 600 Gymboree® retail stores in the United States, Canada, and Europe as well as an online store at gymboree.com, and offers directed parent-child developmental play programs at over 500 franchised and company-operated centers in the United States and 24 other countries.

Mikasa: Mikasa is proud to have long been recognized as the leader in tabletop fashion in dinnerware, crystal stemware, barware, flatware and decorative accessories. Quality and great design are synonymous with the Mikasa brand. The world's finest tabletop designers, working with the best factories, and using the most advanced technology in the industry, create products that are not only beautiful and well-made, but suitably priced for everyone's lifestyle.

Panera Bread Bakery & Cafe: Panera Bread bakery & Café was established in 1981 and currently operates 602 bakery-cafes in 35 states. Panera Bread freshly bakes more bread each day than any bakery-cafe concept in the country. Panera Bread bakery-cafes showcase the art and craft of bread making, and serves made-to-order sandwiches, tossed-to-order salads and soup served in bread bowls. Panera Bread is widely recognized for driving the nationwide trend for specialty breads. As reported by the Wall Street Journal, Panera Bread scored the highest level of customer loyalty among quick-casual restaurants, according to research conducted by TNS Intersearch.

P.F. Chang's China Bistro: Fresh, contemporary and consistently outstanding are the trademarks of P.F. Chang's China Bistro. Founded in 1993, P.F. Chang's is a restaurant that has been embraced by diners across the country. The P.F. Chang's experience is a unique combination of Chinese cuisine, attentive service, wine, and tempting desserts all served in a stylish, high-energy bistro. P.F. Chang's is committed to providing guests with an exceptional dining experience every time they walk through the doors. Whether creating custom sauces tableside, guiding guests through the menu or suggesting dishes to enhance a meal, friendly, knowledgeable service staff and attention to detail are a winning combination.

Pottery Barn: Pottery Barn began in 1949 as a single store in Lower Manhattan, and is founded on the idea that home furnishings should be exceptional in comfort, style and quality. In-house designers draw their inspiration from time-honored models in America and around the world to create unique collections at an excellent value. All of Pottery Barn's products are exclusive to their catalogs, web site and stores. Pottery Barn Associates are dedicated to providing customers with an outstanding level of service, knowledge and assistance and strive to exceed customer expectations whenever possible.

Pottery Barn Kids: Pottery Barn Kids provides casual furnishings and textiles designed to delight and inspire the imagination. As a chip off the old block, our collection has inherited Pottery Barn's comfortable, well- designed aesthetic. And every Pottery Barn Kids' design is guided by a careful regard for child safety standards. The first Pottery Barn Kids catalog was launched in January 1999, and an enthusiastic response from customers led to the opening of retail stores in September 2000. All of Pottery Barn Kids' products are exclusive to the website, catalogs and stores.

Rockfish Seafood Grill: Rockfish is a casual, neighborhood restaurant company based in Dallas, Texas. Rockfish offers fresh, delicious tasting seafood at reasonable prices and are open every day for lunch and dinner. Restaurants are comfortable and relaxed. Whether surrounded by the pine of a mountain fly-fishing lodge or the sleek look reminiscent of a mahogany and chrome trimmed speedboat, guests are enthusiastic about our open kitchens, distinctive menu, creative chefs, and knowledgeable wait staff. The range of menu choices keeps diners coming back for more. Visitors are encouraged to experiment with all Rockfish has to offer and given lot of choices-from how their selection is prepared to a rotating medley of specials posted daily on chalkboards.

The Cheesecake Factory: The Cheesecake Factory serves much more than just cheesecake! When customers walk through the front doors they know they are in for something special! With French limestone floors and decorative columns, hand-painted fabrics, contemporary lighting and an abundance of cherry wood, the lavish decor is just the beginning… The Cheesecake Factory is a unique, upscale casual dining restaurant offering more than 200 menu selections including Appetizers, Pizza, Pasta, Seafood, Steaks, Salads, Sandwiches, and more. The menu also features specialty dishes like Chicken Madeira, Miso Salmon, Cajun Jambalaya Pasta, and The Factory Burger. Save room for dessert! Try one of 50 delicious cheesecakes and desserts such as White Chocolate Raspberry Truffle® Cheesecake or the new Godiva Chocolate Cheesecake with a cappuccino or espresso.

Urban Outfitters: Urban Outfitters specializes in "hip" trend apparel for the college aged shoppers, offering women's, men's, and apartment fashions that are fashion forward with an urban flavor. Also a favorite with teen shoppers, Urban Outfitters is staffed with associates on the cutting edge of the latest trends.

White House/Black Market: This unique specialty store features women's clothing, lingerie, accessories, jewelry and gifts exclusively in black, with accents of the latest trend colors, and white, with several variations. The clothing is decidedly feminine, as is the décor and atmosphere of the stores. Some things in life are better in black and white!

Williams-Sonoma: The first Williams-Sonoma store opened in 1956 selling a small array of cookwear imported from France. Since then the brand has expanded to hundreds of products from around the world sold at more than 200 stores nation-wide. Known for a dedication to customer service and a strong commitment to quality, Williams-Sonoma offers cookwear, kitchen basics, kitchen appliances, gourmet packaged foods, bakewear, dished, glasswear, utensils, cookbooks, and anything else found in the gourmet kitchen.


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