Simon’s Premium Outlets Division Begins Construction of Shisui Premium Outlets

INDIANAPOLIS, April 11, 2012 /PRNewswire/ — Simon Property Group, Inc. (NYSE:
SPG), the world’s leading retail real estate company, announced today that, in
partnership with Mitsubishi Estate Co., Ltd., it began construction of Shisui
Premium Outlets® (Shisui Town, Inba District, Chiba Prefecture), the ninth
Premium Outlet Center® in Japan.

Phase I, comprising 234,000 square feet of gross leasable area, is scheduled to
open in spring 2013 with approximately 100 stores, including international
brands, Japanese brands and restaurants. Simon owns a 40% interest in the

The 49-acre site for construction of Shisui Premium Outlets® is situated
approximately one mile from the Shisui Interchange (due to open March 2013) on
the Higashi-Kanto Expressway, one hour from central Tokyo. The site is also
located 15 minutes from Narita International Airport, Japan’s largest
international hub airport, which handles approximately 34 million passengers

“We are very excited to announce development of the ninth Premium Outlet Center
in Japan,” said John R. Klein, president of Simon’s Premium Outlets. “This
location is well suited to serve Japan’s visitor market and complements our
other area centers.”

Simon’s Premium Outlets portfolio features 70 Premium Outlet Centers® including
57 in the United States, one in Puerto Rico, eight in Japan, two in Korea, one
in Malaysia and one in Mexico. Its industry-leading properties include Woodbury
Common Premium Outlets (New York City), Orlando Premium Outlets, Desert Hills
Premium Outlets (Palm Springs, California) and Las Vegas Premium Outlets.
Centers in Japan include Gotemba Premium Outlets, Sano Premium Outlets, Ami
Premium Outlets (serving Tokyo), Rinku Premium Outlets (Osaka), Kobe-Sanda
Premium Outlets (Kobe-Osaka), Sendai-Izumi Premium Outlets (Sendai), Toki
Premium Outlets (Nagoya) and Tosu Premium Outlets (Fukuoka).

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
337 retail real estate properties in North America and Asia comprising 245
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

SOURCE Simon Property Group, Inc.

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