Simon Opens Toronto Outlet Center

Indianapolis-based Simon Property Group Inc. (NYSE: SPG) has opened its first Premium Outlet Centre in Canada. The company says the development includes 90 outlet stores.

Haton Hills, Ontario — Simon Property Group, Inc. (NYSE: SPG), a global leader in retail real estate, announced today that, in a 50/50 partnership with Calloway Real Estate Investment Trust (“Calloway”), it has opened Toronto Premium Outlets, an upscale outlet shopping centre serving Greater Toronto and the first Premium Outlet Centre in Canada.

Located in the Town of Halton Hills on Highway 401 at Trafalgar Road adjacent to Highways 401 and 407, the first phase of Toronto Premium Outlets comprises 358,000 square feet with 90 outlet stores. The center features high-quality designer and name brands, many of whom will be opening their initial outlet store in Canada, including: Hudson's Bay Outlet*, Banana Republic, Bench, Bose, Brooks Brothers, Coach, Cole Haan*, Columbia Sportswear*, DKNY, Dynamite, Eddie Bauer, Gap Outlet, Garage, Guess, Icebreaker*, J.Crew, Kate Spade New York*, Lucky Brand Jeans, Michael Kors, Polo Ralph Lauren*, Restoration Hardware*, Ted Baker London*, True Religion and Zumiez. *Represents first outlet store in Canada for retailer.

“We are very pleased to announce the opening of Toronto Premium Outlets,” said John R. Klein, President of Simon's Premium Outlets platform. “The collection of brands and the contemporary environment will provide an upscale shopping experience while offering significant savings to area residents and visitors. We welcome Canadian shoppers at many of our properties in the United States and we are pleased to also serve these valued consumers closer to home.”

“Calloway's investment in Toronto Premium Outlets is consistent with our vision to provide value-oriented shopping for Canadian consumers,” said Huw Thomas, CEO of Calloway. “We wish to thank the Town of Halton Hills and the Region of Halton for working so cooperatively with us to ensure a successful Grand Opening for our tenants.”

Residents and visitors are invited to attend the four-day Grand Opening Celebration which runs through Sunday, August 4 and features live entertainment by popular area musicians, in-store promotions, giveaways and more.

Simon's Premium Outlets portfolio features 79 Premium Outlet Centres including 64 in the United States, one in Puerto Rico, nine in Japan, two in South Korea, and one each in Canada, Malaysia and Mexico. Premium Outlet Centres in the United States are located primarily in or near major metropolitan markets such as New York, Los Angeles, Boston and Chicago and visitor markets such as Orlando and Palm Springs. Leading properties include Woodbury Common Premium Outlets (near New York City), Orlando Premium Outlets (Florida), Desert Hills Premium Outlets (Palm Springs, California) and Las Vegas Premium Outlets (Nevada).

About Simon Property Group

Simon Property Group, Inc. (NYSE: SPG) is an S&P 100 company and a global leader in the retail real estate industry. The Company currently owns or has an interest in 326 retail real estate properties in North America and Asia comprising 241 million square feet. We are headquartered in Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more information, visit the Simon Property Group website at www.simon.com.

About Calloway

Calloway is one of Canada's largest real estate investment trusts with an enterprise value of approximately $6 billion. It owns and manages approximately 26 million square feet in 115 value-oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants. Calloway's vision is to provide a value-oriented shopping experience to Canadian consumers. For more information on Calloway, visit www.callowayreit.com.

Source: Simon Property Group