- 46,000 Square Foot Store to Debut in Spring of 2006 -

INDIANAPOLIS, April 14 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG), America's largest owner, developer and manager of high quality retail real estate announced today that Barneys New York will open a flagship store at its Copley Place in Boston, Massachusetts. The two-level, 46,000 square foot store is scheduled to open in the spring of 2006. It represents Barneys New York's first new flagship store in over 11 years.

Allen Kaplan, senior vice president of leasing at Simon said, "We're thrilled that Barneys is going to locate a flagship store at Copley Place. Their arrival reinforces Copley Place as the premier luxury shopping destination in the Boston market." Copley Place is one of the nation's most productive malls with sales per square foot of $800.

Simon also announced today that Barneys agreed to extend its lease for its store at The Mall at Chestnut Hill in Newton, MA. Barneys has operated at that location since 1989 in a 6,200 square foot store.

Simon Property Group, Inc., headquartered in Indianapolis, Indiana, 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 shopping centers. The Company's current total market capitalization is approximately $36 billion. Through its subsidiary partnerships, it currently owns or has an interest in 296 properties in the United States containing an aggregate of 203 million square feet of gross leasable area in 40 states plus Puerto Rico. Simon also holds interests in 51 European shopping centers in France, Italy, Poland and Portugal; 5 Premium Outlet(R) centers in Japan; one Premium Outlet(R) center in Mexico; and one shopping center in Canada. Additional Simon Property Group information is available at http://www.simon.com .

SOURCE Simon Property Group, Inc.

/CONTACT: Les Morris of Simon Property Group, +1-317-263-7711/ /Web site: http://www.simon.com /
(SPG)