Westfield America, Inc. Selected for Retail Component of World Trade Center

Apr 26, 2001, 01:00 ET from Westfield America, Inc.

    LOS ANGELES, April 26 /PRNewswire/ -- Westfield America officials today
 announced that the Company has reached an agreement with the Port Authority of
 New York and New Jersey to lease the retail component of the World Trade
 Center for 99 years.  Concurrently, Silverstein Properties has entered into an
 agreement for the lease of the 10 million square foot office complex.
     These agreements are the culmination of the exclusive negotiations
 announced by the Port Authority on March 19, 2001.  Westfield's net leasehold
 covers approximately 427,448 square feet of retail space ("The Mall").  The
 Mall has 75 specialty stores, restaurants and service retailers, and will be
 branded "Westfield Shoppingtown World Trade Center."  The Mall has one of the
 highest producing sales volumes in America with sales in excess of $900 per
 square foot.  It serves 40,000 office workers, 150,000 daily commuters and is
 an important business and tourism hub.
     "This is a special opportunity for us," said Westfield's CEO, Peter Lowy.
 "The World Trade Center is one of the most prominent office and retail
 complexes in the world, and we look forward to putting our management, leasing
 and development experience to work at this premier property."
     Westfield America, Inc., (NYSE:   WEA) a real estate investment trust, is
 one of the nation's leading owners of regional shopping centers.  The Company
 owns interests in 39 major shopping centers, branded as Westfield
 Shoppingtowns.  Westfield Shoppingtowns are home to more than 5,000 specialty
 stores, serve 10% of the U.S. population and comprise approximately 37.7
 million square feet of leasable space in California, Colorado, Connecticut,
 Maryland, Missouri, New Jersey, New York, North Carolina and Washington.  For
 more information, visit the website at http://www.westfieldamerica.com.
 
     Certain matters within this news release are forward-looking statements
 within the meaning of the Private Securities Litigation Reform Act of 1995 and
 as such may involve known and unknown risks, uncertainties, and other factors
 which may cause the actual results, performance or achievements to differ
 materially from estimates or expectations expressed or implied by such
 forward-looking statements.  Although the Company believes the expectations
 reflected in such forward-looking statements are based upon reasonable
 assumptions, it can give no assurance that its expectations will be attained.
 These risks are detailed from time to time in the Company's filings with the
 Securities and Exchange Commission.
 
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SOURCE Westfield America, Inc.
    LOS ANGELES, April 26 /PRNewswire/ -- Westfield America officials today
 announced that the Company has reached an agreement with the Port Authority of
 New York and New Jersey to lease the retail component of the World Trade
 Center for 99 years.  Concurrently, Silverstein Properties has entered into an
 agreement for the lease of the 10 million square foot office complex.
     These agreements are the culmination of the exclusive negotiations
 announced by the Port Authority on March 19, 2001.  Westfield's net leasehold
 covers approximately 427,448 square feet of retail space ("The Mall").  The
 Mall has 75 specialty stores, restaurants and service retailers, and will be
 branded "Westfield Shoppingtown World Trade Center."  The Mall has one of the
 highest producing sales volumes in America with sales in excess of $900 per
 square foot.  It serves 40,000 office workers, 150,000 daily commuters and is
 an important business and tourism hub.
     "This is a special opportunity for us," said Westfield's CEO, Peter Lowy.
 "The World Trade Center is one of the most prominent office and retail
 complexes in the world, and we look forward to putting our management, leasing
 and development experience to work at this premier property."
     Westfield America, Inc., (NYSE:   WEA) a real estate investment trust, is
 one of the nation's leading owners of regional shopping centers.  The Company
 owns interests in 39 major shopping centers, branded as Westfield
 Shoppingtowns.  Westfield Shoppingtowns are home to more than 5,000 specialty
 stores, serve 10% of the U.S. population and comprise approximately 37.7
 million square feet of leasable space in California, Colorado, Connecticut,
 Maryland, Missouri, New Jersey, New York, North Carolina and Washington.  For
 more information, visit the website at http://www.westfieldamerica.com.
 
     Certain matters within this news release are forward-looking statements
 within the meaning of the Private Securities Litigation Reform Act of 1995 and
 as such may involve known and unknown risks, uncertainties, and other factors
 which may cause the actual results, performance or achievements to differ
 materially from estimates or expectations expressed or implied by such
 forward-looking statements.  Although the Company believes the expectations
 reflected in such forward-looking statements are based upon reasonable
 assumptions, it can give no assurance that its expectations will be attained.
 These risks are detailed from time to time in the Company's filings with the
 Securities and Exchange Commission.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X88651340
 
 SOURCE  Westfield America, Inc.