Simon Property Group Announces $500 Million Increase in Revolving Corporate Credit Facility

Simon Property Group Announces $500 Million Increase in Revolving Corporate Credit Facility

Borrowing Capacity of Facility Increased to $3.5 Billion

INDIANAPOLIS , Oct. 4 /PRNewswire-FirstCall/ — Simon Property Group, Inc. (the “Company”) (NYSE: SPG) today announced that it has successfully implemented the $500 million accordion feature in its existing unsecured corporate credit facility, thereby increasing the Company’s revolving borrowing capacity from $3.0 billion to $3.5 billion . The expanded credit facility includes a larger $875 million multi-currency tranche for Euro, Yen and Sterling borrowings. The facility will mature in January 2010 and contains a one-year extension at the Company’s sole option. The base interest rate on the Company’s facility is currently LIBOR plus 37.5 basis points.

“There was strong interest in the $500 million facility increase, with lender commitments received from 26 institutions aggregating over $1.1 billion ” said David Simon , Chief Executive Officer. “We believe that this facility expansion further enhances our financial flexibility and are pleased with the magnitude of lenders participating in the accordion – 48 institutions are now included in our corporate revolver.

About Simon Property Group

Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers(R), The Mills(R), community/lifestyle centers and international properties. It currently owns or has an interest in 379 properties comprising 258 million square feet of gross leasable area in North America , Europe and Asia. The Company is headquartered in Indianapolis , Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company’s website at .

SOURCE Simon Property Group, Inc.

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