In the past 18 months, Tiffany & Co., Sony Style, Tommy Bahama and Lucky Brand Jeans have opened at the Fashion Mall.

Nordstrom plans to open in the former Parisian space in the fall of 2008. Mall Manager Lea Willingham says the expansion will mean about 20 new stores.

Press Release

INDIANAPOLIS, IN (August 8, 2007) – Indianapolis’ own Simon Property Group, Inc. (NYSE:SPG), the country’s largest owner, developer and manager of high quality retail real estate, announced today a major expansion of one of the country’s most productive and fashionable retail addresses, Fashion Mall at Keystone on Indianapolis’ northside.

Plans call for approximately 150,000 square feet of first-class retail to be added to Fashion Mall at Keystone, a shopping and entertainment destination that routinely attracts a regional audience from a three-state area. Approximately 20 unique tenants will continue the high-fashion trend that has seen an unequaled collection of retailers call Fashion Mall at Keystone home. Construction is scheduled to begin in 2008.

One hundred thousand square feet will be added to a second level on the west side of the property where Nordstrom will occupy a two-level, 130,000 square foot store beginning in the fall of 2008. The food court will be moved from its present location to this second level. Attractive amenities such as skylights and indoor landscaping will welcome patrons who want to combine luxurious shopping and convenient dining.

An additional 50,000 square feet will be added on the east side of Fashion Mall at Keystone where Indiana’s only Saks is currently located. New multi-level parking decks will be constructed to accommodate the additional shopper demand.

“We’re taking a first-class retail project and taking it to the next level,” said David Simon, CEO of Simon Property Group, Inc. “This is a signature project for us and we’re thrilled to be creating this unparalleled retail environment in our hometown.”

Today’s announcement continues a gold rush of tenants eager to locate at Central Indiana’s premier retail address. Within the past 18 months, Tiffany & Company, Sony Style, Tommy Bahama and Lucky Brand Jeans have all opened doors at the Fashion Mall.

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®, The Mills®, 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 4,500 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG and has a current total market capitalization of approximately $50 billion. For further information, visit the Company's website at www.simon.com.

Source: Simon Property Group, Inc.