General Growth Properties Announces New Director

CHICAGO--(Business Wire)--
GENERAL GROWTH PROPERTIES, INC. today announced the appointment of Glenn J.
Rufrano to its Board of Directors.

Mr. Rufrano is currently the chief executive officer of Centro Properties Group,
a retail investment organization specializing in the ownership, management, and
development of retail shopping centers with an extensive portfolio of centers
across Australia, New Zealand and the United States, which does not compete
directly with GGP. Mr. Rufrano led Centro Properties Group through its
successful restructuring during the current credit crisis. From 2000 until its
acquisition by Centro Properties Group in April 2007, Mr. Rufrano was chief
executive officer of New Plan Excel Realty Trust, Inc., as well as a member of
that company`s board of directors. Mr. Rufrano spent 17 years as a partner at
The O`Connor Group, a diversified real estate firm.

"Glenn`s CEO and restructuring experience combined with his regional shopping
mall expertise will be invaluable to the Company as we continue to develop the
plan to emerge from bankruptcy. We are delighted to be able to strengthen our
Board with this latest addition and look forward to benefiting from his insights
and experience," said Adam Metz, chief executive officer of General Growth
Properties.

GGP Information

The Company currently has ownership interest in, or management responsibility
for, over 200 regional shopping malls in 44 states, as well as ownership in
master planned community developments and commercial office buildings. The
Company`s portfolio totals approximately 200 million square feet of retail space
and includes over 24,000 retail stores nationwide. The Company`s common stock is
trading in the pink sheets under the symbol GGWPQ. The Company and certain of
its subsidiaries filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code on April 16 and April 22, 2009. The Chapter 11
cases are being jointly administered under case number 09-11977 (ALG).

Forward Looking Statements

This press release contains forward-looking statements. Actual results may
differ materially from the results suggested by these forward-looking
statements, for a number of reasons, including, but not limited to, the impact
of our bankruptcy filing, our ability to refinance, extend or repay our near and
intermediate term debt, our substantial level of indebtedness and interest
rates, retail and credit market conditions, impairments, land sales in the
Master Planned Communities segment, the cost and success of development and
re-development projects and our ability to successfully manage our strategic and
financial review and our liquidity demands. Readers are referred to the
documents filed by General Growth Properties, Inc. with the Securities and
Exchange Commission, which further identify the important risk factors that
could cause actual results to differ materially from the forward-looking
statements in this release. The Company disclaims any obligation to update any
forward-looking statements.

General Growth Properties, Inc.
David Keating, Corporate Communications
(312) 960-6325

Copyright Business Wire 2009