Framingham/Natick Retail NewsCenter

Neiman Marcus To Open At Natick Mall

Title: Neiman Marcus To Open At Natick Mall

Author: Press Release

Publication: Press Release

Date of Publication: July 1st, 2004

Corresponding Retail Development: Natick Collection 2007 Expansion

Corresponding Town: Natick

Web Site Link: http://www.generalgrowth.com/company/PressRelease.asp?id=237

Text:

Chicago, Illinois, July 1, 2004 – General Growth Properties, Inc. (NYSE: GGP), owner and manager of Natick Mall (Natick, MA—Boston), announced today it has signed Dallas-based fashion specialty retailer Neiman Marcus as an anchor to the mall’s 550,000 square foot expansion. Neiman Marcus will join Nordstrom in the expansion.

“The partnership between Natick Mall and Neiman Marcus is ideal—we’re both committed to offering top-of-the-line merchandise and superior customer service,” said Bob Michaels, president of General Growth Properties. “Retailers such as Neiman Marcus and Nordstrom will solidify Natick Mall as the premier shopping destination in the Greater Boston area. We’re devoted to providing a total shopping experience for our customers through unique retail concepts, popular restaurants, and entertainment.”

The Neiman Marcus Natick store will be a two-level, 100,000 square foot building, scheduled to open in spring 2007.

“The Boston market has been a very successful one for Neiman Marcus, such that we have been seeking out a viable second store location for a number of years,” said Wayne Hussey, senior vice president of properties for Neiman Marcus. “We are very pleased to be partnering with General Growth and joining a very strong retail lineup at Natick Mall. A Neiman Marcus store in Natick Mall will clearly provide our customers with an exciting shopping alternative in the Boston area.”

ABOUT NEIMAN MARCUS The Neiman Marcus Group, Inc. (NYSE: NMG.A, NMG.B), includes the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Chef’s Catalog brand names. Information about the Company can be accessed at www.neimanmarcusgroup.com.

ABOUT NATICK MALL This 1.2 million square foot shopping destination is located within the western suburbs of Boston and is easily accessible from Routes 9 and 30 and the Massachusetts Turnpike. Its sales exceed twice the national average, serving 17 million shoppers a year. The introduction of luxury/higher-end merchandise with the addition of Neiman Marcus and Nordstrom will better serve customers looking for specific products or stores that are only available to them by driving longer distances. Also planned as part of the 550,000 square foot addition is the inclusion of specialty shops and boutiques and five nationally recognized signature restaurants. To enhance the expansion, two luxury condominium towers are also proposed as part of the project.

The Natick Mall expansion is currently undergoing local Planning Board review in Natick and is expected to begin groundbreaking on the former Wonder Bread bakery site (adjacent to the current Natick Mall) this summer. The opening of the completed new addition is expected in the spring of 2007.

Natick Mall is owned and managed by General Growth Properties, Inc., the country’s second largest shopping center owner, developer and manager. General Growth Properties currently has ownership interests in, or management responsibility for, a portfolio of 177 regional shopping malls in 41 states. The company portfolio totals more than 153 million square feet of retail space and includes over 16,000 retailers. A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP. For more information on General Growth Properties and its portfolio of malls, please visit the company Web site at www.generalgrowth.com.