Cadillac Named 'Official Vehicle of Phipps Plaza'

Deal Positions Mall as Major Marketing Platform for Luxury Auto Brand

INDIANAPOLIS, July 21 -- Simon Property Group , the nation's largest owner, developer, manager and marketer of retail real estate, announced today a strategic alliance between Phipps Plaza, Atlanta's premier upscale shopping destination, and General Motors' Cadillac division. The program, which will utilize Atlanta as a test market, promises to combine the similarities and strengths of two national premium brands into one of the most notable marketing alliances in their respective industries. In addition, the arrangement provides Cadillac with an innovative platform to reach new customers within its targeted demographic, while injecting tangible benefits into its customer retention program.

The alliance is multi-pronged -- by naming Cadillac the "Official Vehicle of Phipps Plaza," the brand will use the shopping center as an interactive stage to highlight its full line of redesigned luxury vehicles, complete with product specialists staffing the displays. Phipps Plaza's highly trafficked valet service, run by Atlanta-based AmeriPark, will be renamed the "Cadillac Valet," supported by exterior promotional signage and a hand-picked Cadillac valet team outfitted in custom Cadillac attire. The valet service, a much- coveted perk at Phipps Plaza, will now be complimentary for all mall patrons arriving in a Cadillac. Finally, these initiatives will be reinforced through lifestyle content with a series of exclusive, invitation-only events created by Cadillac and hosted by Phipps Plaza retailers.

Additional elements supporting the alliance involve seasonal opportunities for Cadillac, such as its sponsorship of Phipps Plaza's renowned Santa and the surrounding holiday set.

"Cadillac's commitment to bold, breakthrough products with world-class performance naturally suits the sophisticated luxury and style of Phipps Plaza," said John Orth, Cadillac Regional Marketing Manager. "Partnering with Phipps Plaza and Simon Property Group provides a unique and creative venue to reach out to existing Cadillac owners and introduce our great vehicles to new consumers. This alliance allows us to take traditional assets and partner with an untapped venue."

"Simon Brand Ventures' positioning of Phipps Plaza as one of the premier shopping destinations in the country was key in establishing the center as a viable marketing medium for an automobile brand that is synonymous with the same level of prestige," said Stewart Stockdale, Chief Marketing Officer of Simon Property Group and President of Simon Brand Ventures, the business-to- consumer arm of Simon Property Group. "What Phipps Plaza and Simon's national network of top-tier shopping centers have to offer major marketers goes well beyond the opportunities offered through traditional mediums. We're pleased that a brand like Cadillac had the foresight to recognize this as an opportunity to provide unprecedented value to its current and potential customers," he added.

About Phipps Plaza/Simon Property Group

Phipps Plaza is owned and operated by Simon Property Group, Inc. Headquartered in Indianapolis, Indiana, Simon Property Group is a real estate investment trust engaged in the ownership, development and management of retail real estate, primarily regional malls, Premium Outlet(R) centers and community/lifestyle centers. The Company's current total market capitalization is approximately $39 billion. Through its subsidiary partnership, it currently owns or has an interest in 294 properties in the United States containing an aggregate of 201 million square feet of gross leasable area in 40 states plus Puerto Rico. Simon also holds interests in 52 European shopping centers in France, Italy, Poland and Portugal; 5 Premium Outlet centers in Japan; one Premium Outlet center in Mexico; and one shopping center in Canada. Additional Simon Property Group information is available at http://www.simon.com/ .

About Cadillac/GM

Cadillac is a division of General Motors . General Motors, the world's largest vehicle manufacturer, designs, builds and markets cars and trucks worldwide, and has been the global automotive sales leader since 1931. Cadillac products include CTS sport sedan, SRX luxury utility, STS performance luxury sedan, DTS luxury sedan, XLR luxury roadster, Escalade a family of large luxury SUVs and the high-performance V-Series (CTS-V, STS-V, XLR-V) three cars that go 0-60 in under five seconds. More information on Cadillac can be found at http://www.cadillac.com/