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GGP Finances $1.2 Billion Of Property-Level Debt

INTEREST RATE DECREASES FROM 4.62% TO 3.65%

CHICAGO, Nov. 14, 2012 /PRNewswire/ -- General Growth Properties, Inc. (NYSE: GGP) ("GGP" or the "Company") today announced $1.2 billion of property-level financings. The new loans have a weighted average interest rate and term of 3.65% and 8.4 years, respectively, as compared to a rate of 4.62% and a remaining term-to-maturity of approximately one year for the prior loans. The transactions generated approximately $545 million of net proceeds. Information regarding each transaction is provided below:

			Prior Loan Terms				New Loan Terms
Mall	Location	Financing Date	Balance	Balance at GGP Share	Interest Rate(a)	Maturity Date	Balance	Balance at GGP Share	Interest Rate(a)	Maturity Date
			(in millions)				(in millions)
Newgate Mall	Ogden, UT	November 2012	$38	$38	4.84%	April 2014	$58	$58	3.69%	June 2020
Fashion Place	Murray, UT	November 2012	132	132	5.30%	April 2014	227	227	3.64%	June 2020
Town East Mall	Mesquite, TX	November 2012	95	95	3.46%	January 2014	160	160	3.56%	June 2020
Tucson Mall	Tucson, AZ	November 2012	111	111	4.26%	January 2014	246	246	4.01%	June 2020
Visalia Mall	Visalia, CA	November 2012	36	36	3.78%	January 2014	74	74	3.71%	June 2020
Coastland Center	Naples, FL	November 2012	-	-	-	-	130	130	3.76%	November 2022
Bridgewater Commons	Bridgewater, NJ	November 2012	124	43	5.27%	January 2013	300	105	3.34%	November 2022
		Grand Totals	$536	$455	4.62%		$1,195	$1,000	3.65%

(a) Grand Total interest rate calculated based on total loan balance.

During 2012, the Company has completed 32 financings totaling approximately $7.9 billion ($7.0 billion at share) of property-level financings generating approximately $1.4 billion of net proceeds. As a result of these transactions, the average interest rate decreased 110 basis points from 5.30% to 4.20%. The Company has no further property-level debt maturing in 2012.

As previously disclosed, the Company has called for early redemption of its 6.75% unsecured notes due May 2013 (approximately $600 million). The redemption will occur on December 3, 2012, at the "Make Whole Price", as defined in the applicable indenture.

General Growth Properties, Inc.

General Growth Properties, Inc. is a fully integrated, self-managed and self-administered real estate investment trust focused on owning, managing, leasing, and redeveloping regional malls throughout the United States and Brazil. GGP currently owns or has an interest in, 144 regional shopping malls comprising approximately 136 million square feet of gross leasable area. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP. For further information please visit www.ggp.com .

Investor Relations Contact:	Media Contact:
Kevin Berry	David Keating
VP Investor Relations	VP Corporate Communications
(312) 960-5529	(312) 960-6325
kevin.berry@ggp.com	david.keating@ggp.com