Macerich Declares Its Quarterly Dividend

SANTA MONICA, Calif., July 31 /PRNewswire-FirstCall/ -- The Board of
Directors of The Macerich Company (NYSE: MAC) declared a dividend of $0.80 per
share of common stock to stockholders of record on August 21, 2008. In
addition, Macerich declared a dividend of $0.80 per share on its Series A
Cumulative Preferred Stock. The dividends are payable on September 8, 2008.
Based on today's closing stock price the dividend represents an annualized
dividend yield of 5.78%.
Macerich is a fully integrated self-managed and self-administered real
estate investment trust, which focuses on the acquisition, leasing,
management, development and redevelopment of regional malls throughout the
United States. The company is the sole general partner and owns an 86%
ownership interest in The Macerich Partnership, L.P. Macerich now owns
approximately 77 million square feet of gross leaseable area consisting
primarily of interests in 72 regional malls. Additional information about
Macerich can be obtained from the Company's Web site at
http://www.macerich.com.
SOURCE The Macerich Company

Arthur Coppola, President and Chief Executive Officer, or Thomas O'Hern,
Executive Vice President and Chief Financial Officer, +1-310-394-6000