Press Release

MONROE, Ohio, Aug 06, 2009 /PRNewswire-FirstCall via COMTEX/ -- Simon Property Group, Inc. (NYSE: SPG), the country's largest owner, developer and manager of high quality retail real estate announced today that its Chelsea outlet division opened Cincinnati Premium Outlets(R). Located on a 117-acre site in Monroe, north of Cincinnati, off Interstate 75 at exit 29 (Ohio 63) in Warren County, Cincinnati Premium Outlets contains 400,000 square feet of gross leasable area and 100 designer and name-brand outlet stores.

The four-day Grand Opening Celebration runs through Sunday, August 9 and features live entertainment by popular area musicians, store promotions, giveaways and more. Merchants include Adidas, BCBG Max Azria, Banana Republic, Brooks Brothers, Coach, Cole Haan, J.Crew, Kenneth Cole, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th and Tommy Hilfiger.

"Cincinnati Premium Outlets brings together an impressive collection of many of the finest brands, offering value, quality and selection all in one convenient location serving smart shoppers in the Cincinnati and Dayton markets as well as area visitors," remarked John R. Klein, CEO of Chelsea. "We are also pleased to have created hundreds of new jobs and significant economic development for the area."

Cincinnati Premium Outlets is the 51st Premium Outlet Center worldwide and the second in Ohio. Aurora Farms Premium Outlets, located in Aurora, Ohio near Cleveland, opened in 1987 and was the state's first outlet center. Chelsea's industry-leading properties include Woodbury Common Premium Outlets (New York City); Orlando Premium Outlets; Desert Hills Premium Outlets (Palm Springs, California); Las Vegas Premium Outlets; Wrentham Village Premium Outlets (Boston); Gotemba Premium Outlets (Tokyo, Japan); and Yeoju Premium Outlets (Seoul, Korea). See www.premiumoutlets.com for more information.

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 387 properties comprising 263 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 www.simon.com.

SOURCE Simon Property Group, Inc.

http://www.simon.com