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Westfield America (NYSE: WEA) to Acquire Pirelli Site in New Haven, Connecticut

13 December 2000

Westfield America (NYSE: WEA) to Acquire Pirelli Site in New Haven, Connecticut

    NEW HAVEN, Conn., Dec. 13 Westfield America, Inc.
officials announced today that the Company has entered into a
letter of intent to purchase the 19-1/2-acre Pirelli Tire property from New
England Development and the Fusco Corporation.  In conjunction with the
purchase, all related lawsuits between the parties, including the City of New
Haven, will be dismissed.

    Westfield America, Inc. , a real estate investment trust, is
one of the nation's leading owners of regional shopping centers.  The Company
owns interests in 39 major centers, branded as Westfield Shoppingtowns.
Westfield Shoppingtowns are home to more than 5,000 specialty stores, serve
approximately 10 percent of the U.S. population and comprise 37.7 million
square feet of leasable space in California, Colorado, Connecticut, Maryland,
Missouri, New Jersey, New York, North Carolina and Washington.  For more
information, visit the website at http://www.westfieldamerica.com.