Press Release

Simon Property Group, Inc. (the "Company") (NYSE: SPG) today announced 2010 year-end tax reporting information.

    Simon Property Group, Inc. Common Stock
    CUSIP 828806109
    Ticker Symbol:  SPG

                      Record    Record    Record    Record            % of
                        2/16      5/14      8/17     11/16           Annual
    Dividend
    Dates           Pmt 2/26  Pmt 5/28  Pmt 8/31  Pmt 11/30  Totals   Total
                     --------  --------  -------- ---------  ------   -----

    Total
     Distribution
     per Share        $0.60     $0.60     $0.60     $0.80    $2.60

    Taxable
     Ordinary
     Dividends      $0.322946 $0.322946 $0.322946 $0.430594 $1.399432 53.82%

    Qualified
     Dividends      $0.000000 $0.000000 $0.000000 $0.000000 $0.000000
    (included in
    Taxable Ordinary
     Dividends)

    Total Capital
     Gain
     Distribution   $0.238083 $0.238083 $0.238083 $0.317444 $1.031693 39.68%

    Unrecaptured
     Sec. 1250
     Gain           $0.054266 $0.054266 $0.054266 $0.072355 $0.235153
    (included in
     Total Capital
      Gain
      Distribution)

    Nondividend
     Distributions  $0.038971 $0.038971 $0.038971 $0.051962 $0.168875  6.50%

    Simon Property Group, Inc. 6.0% Series I Convertible Perpetual Preferred
    Stock
    CUSIP 828806802
    Ticker Symbol:  SPGPrI


                                 Record                  % of
                                   2/16                 Annual
    Dividend Dates             Pmt 2/26     Totals       Total
                               --------     ------       -----

    Total Distribution per
     Share                    $0.750000     $0.750000

    Taxable Ordinary
     Dividends                $0.452396     $0.452396    60.32%

    Qualified Dividends       $0.000000     $0.000000
    (included in
    Taxable Ordinary
     Dividends)

    Total Capital Gain
     Distribution             $0.297604     $0.297604    39.68%

    Unrecaptured Sec. 1250
     Gain                     $0.067833     $0.067833
    (included in
     Total Capital Gain
      Distribution)

    Nondividend
     Distributions            $0.000000     $0.000000      0.0%

    Simon Property Group, Inc. 8.375% Series J Cumulative Redeemable Preferred
    Stock
    CUSIP 828806885
    Ticker Symbol:  SPGPrJ

                       Record    Record    Record    Record           % of
                         3/17      6/16      9/16     12/17          Annual
    Dividend
     Dates           Pmt 3/31  Pmt 6/30  Pmt 9/30 Pmt 12/31  Totals   Total
                     --------  --------  -------- ---------  ------   -----

    Total
     Distribution
     per Share      $1.046875 $1.046875 $1.046875 $1.046875 $4.187500

    Taxable
     Ordinary
     Dividends      $0.631469 $0.631469 $0.631469 $0.631469 $2.525876 60.32%

    Qualified
     Dividends      $0.000000 $0.000000 $0.000000 $0.000000 $0.000000
    (included in
    Taxable Ordinary
     Dividends)

    Total Capital
     Gain
     Distribution   $0.415406 $0.415406 $0.415406 $0.415406 $1.661624 39.68%

    Unrecaptured
     Sec. 1250
     Gain           $0.094683 $0.094683 $0.094683 $0.094683 $0.378732
    (included in
     Total Capital
      Gain
      Distribution)

    Nondividend
     Distributions  $0.000000 $0.000000 $0.000000 $0.000000 $0.000000  0.0%

Should you need additional information, please call Shelly Doran at 317.685.7330.

    THIS INFORMATION REPRESENTS (check one):

    X   FINAL INCOME ALLOCATIONS
        ESTIMATED INCOME ALLOCATIONS

About Simon Property Group

Simon Property Group, Inc. is an S&P 500 company and the largest real estate company in the U.S. The Company currently owns or has an interest in 393 retail real estate properties comprising 264 million square feet of gross leasable area in North America, Europe and Asia. Simon Property Group is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. The Company's common stock is publicly traded on the NYSE under the symbol SPG. For further information, visit the Simon Property Group website at www.simon.com.

SOURCE Simon Property Group, Inc.