Aéropostale Consortium Finalizes Acquisition

~ABG, GGP and Simon Create an Innovative Partnership to Acquire
Aéropostale and Position the Brand for Long Term Growth ~

NEW YORK & CHICAGO & INDIANAPOLIS–(BUSINESS WIRE)–Authentic Brands Group (ABG), General Growth Properties (GGP) and Simon
Property Group (SPG) finalizes the acquisition of the global
trend-focused apparel and accessories brand, Aéropostale. The consortium
includes ABG, the owner of a global portfolio of fashion, sports and
entertainment brands, GGP and SPG, two of the largest retail real estate
companies in the world.


Aéropostale offers young women, men and kids a focused selection of
active-oriented fashion and fashion basic merchandise at compelling
values. The brand will continue to be available in over 700 retail doors
around the world; more than 400 stores in the U.S. and Canada and
approximately 300 doors across Latin America, Europe, the Middle East
and Southeast Asia.

Through ABG’s proven know-how in brand building and licensing, combined
with the expertise of retail real estate specialists, GGP and SPG, there
is now a strong foundation in place for long term performance and growth.

“We are pleased to be part of this consortium that has saved thousands
of jobs and preserved a legendary American brand,” said David Simon,
Chairman and CEO, Simon Property Group. “We are encouraged by the
tremendous amount of support we have received from employees, vendors
and other landlords.”

“This consortium brings a new approach to brand development and
Aéropostale brings another facet to ABG’s fashion portfolio,” said Jamie
Salter, Chairman and CEO, ABG. “The purchase of Aéropostale propels the
retail revenue driven by ABG’s brands to over $4.5 billion USD in retail
sales worldwide. We look forward to working closely with our new
partners, General Growth Properties and Simon Property Group to continue
to grow the Aéropostale brand on a global scale.”

“Aéropostale has significant brand equity and the go-forward portfolio
of stores generates more than $1 billion in global retail sales, over
$800 million of which is from the U.S.,” said Sandeep Mathrani, CEO,
GGP. “The entity is financially secure and well capitalized and we are
very pleased that thousands of jobs will be preserved.”

About Authentic Brands Group, LLC

Authentic Brands Group is a brand development company, which builds
long-term value through the ownership of intellectual property
associated with prominent fashion, sports, celebrity and entertainment
brands. Headquartered in New York City, ABG builds brand equity by
partnering with best-in-class licensees and retailers. ABG’s global
portfolio of world-renowned brands includes Marilyn Monroe®, Mini
Marilyn®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, Michael
Jackson® *managed brand*, Juicy Couture®, Aéropostale®, Jones New York®,
Judith Leiber®, Frederick’s of Hollywood®, Adrienne Vittadini®, Taryn
Rose®, Misook®, Hickey Freeman®, Hart Schaffner Marx®, Bobby Jones®,
Spyder®, Tretorn®, Tapout®, Prince®, Airwalk®, Vision Street Wear®, and
Hind®. www.abg-nyc.com

About General Growth Properties, Inc.

General Growth Properties, Inc. is an S&P 500 company focused
exclusively on owning, managing, leasing, and redeveloping high-quality
retail properties throughout the United States. GGP is headquartered in
Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

About Simon Property Group

Simon is a global leader in retail real estate ownership, management and
development and an S&P100 company (Simon Property Group, NYSE:SPG). Our
industry-leading retail properties and investments across North America,
Europe and Asia provide shopping experiences for millions of consumers
every day and generate billions in annual retail sales. For more
information, visit simon.com.

Contacts

Authentic Brands Group
Haley Steinberg
PR and Communications
(646)
612-7439
hsteinberg@abg-nyc.com
or
General
Growth Properties
Kevin Berry
SVP Investor & Public Relations
(312)
960-5529
kevin.berry@ggp.com
or
Simon
Property Group
Tom Ward
SVP Investor Relations
(317)
685-7330
tom.ward@simon.com