Profile: The Macerich Company (MAC.N)

The Macerich Company is involved in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The Company is the sole general partner of, and owns a majority of the ownership interests in, The Macerich Partnership, L.P(the Operating Partnership). During the year ended December 31, 2008, the Operating Partnership owned or had an ownership interest in 72 regional shopping centers and 20 community shopping centers aggregating approximately 76 million square feet of gross leasable area. The Company is a self-administered and self-managed real estate investment trust (REIT), and conducts all of its operations through the Operating Partnership and the Company’s management companies, Macerich Property Management Company, LLC, Macerich Management Company, Westcor Partners, L.L.C., a single member Arizona limited liability company, Macerich Westcor Management LLC, Westcor Partners of Colorado, LLC, MACW Mall Management, Inc. and MACW Property Management, LLC.

On January 10, 2008, the Company, in a 50/50 joint venture, acquired The Shops at North Bridge, a 680,933 square foot urban shopping center in Chicago, Illinois. The 74 Regional Shopping Centers in the Company’s portfolio average approximately 952,000 square feet of gross leasable area and range in size from 2.2 million square feet of gross leasable area at Tysons Corner Center to 323,455 square feet of gross leasable area at Panorama Mall. The Company’s 20 Community Shopping Centers have an average of approximately 323,505 square feet of gross leasable area. During 2008, the Company acquired Boscov's store and the Mervyn's stores.