Brookfield Properties President Steve Douglas Resigns to Become CFO of General Growth

NEW YORK--(Business Wire)--
Brookfield Properties Corporation (NYSE, TSX: BPO) announced today that Steven
J. Douglas has resigned as President of the company, effective immediately, to
assume the position of Executive Vice President and Chief Financial
Officer/Director of Accounting and Finance at General Growth Properties (NYSE:
GGP).

Ric Clark, Brookfield`s Chief Executive Officer, stated, "We thank Steve for his
invaluable contributions to the success of Brookfield Properties and wish him
well as he joins General Growth which is being recapitalized by our principal
shareholder, Brookfield Asset Management."

The position of President at Brookfield Properties will remain open for the
immediate future.

Brookfield Properties Profile

Brookfield Properties owns, develops and manages premier office properties. Its
current managed portfolio is comprised of interests in 93 properties totaling 70
million square feet in the downtown cores of New York, Boston, Washington, D.C.,
Los Angeles, Houston, Toronto, Calgary and Ottawa, making it one of the largest
owners of commercial real estate in North America. Landmark assets include the
World Financial Center in Manhattan, Brookfield Place in Toronto, Bank of
America Plaza in Los Angeles and Bankers Hall in Calgary. The company`s common
shares trade on the NYSE and TSX under the symbol BPO. For more information,
visit www.brookfieldproperties.com.

Brookfield Properties Corporation
Melissa Coley, 212-417-7215
Vice President, Investor Relations and Communications
melissa.coley@brookfield.com

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