SIMON PROPERTY GROUP INC /DE/ - FORM 8-K - EX-99.1 - EXHIBIT 99.1

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Exhibit 99.1

SIMON PROPERTY GROUP
Overview

The Company

Simon Property Group, Inc., ("Simon," "we," "us," "our," or the "Company") (NYSE:SPG) is a self-administered and self-managed real estate investment trust ("REIT"). Simon Property Group, L.P., or the Operating Partnership, is a majority-owned subsidiary partnership of the Company. Together, the Company and the Operating Partnership, or Simon Group, are engaged primarily in the ownership, development and management of retail real estate properties including regional malls, Premium Outlets®, The Mills®, community/lifestyle centers and international properties. At March 31, 2010, we owned or had an interest in 381 properties comprising 261 million square feet of gross leasable area in North America, Europe and Asia.

This package was prepared to provide (1) ownership information, (2) certain operational information, and (3) balance sheet information as of March 31, 2010, for the Company and the Operating Partnership.

Beginning with the first quarter of 2010, we modified the reporting of statistics for our U.S. businesses by combining the Company's regional malls and Premium Outlets. We made this change for several reasons including (1) it is more representative of Simon's enterprise performance, as combined, these portfolios represent over 86% of our net operating income, (2) the historically bright line between malls and outlets is becoming more blurred every day as many tenants are leasing space in both property types, and (3) we consolidated the back-of-house operations for our outlets into our Indianapolis infrastructure last year.

Certain statements made in this Supplemental Package may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to: our ability to meet debt service requirements, the availability and terms of financing, changes in our credit rating, changes in market rates of interest and foreign exchange rates for foreign currencies, changes in value of investments in foreign entities, the ability to hedge interest rate risk, risks associated with the acquisition, development, expansion, leasing and management of properties, general risks related to retail real estate, the liquidity of real estate investments, environmental liabilities, international, national, regional and local economic climates, changes in market rental rates, trends in the retail industry, relationships with anchor tenants, the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise, risks relating to joint venture properties, costs of common area maintenance, competitive market forces, risks related to international activities, insurance costs and coverage, terrorist activities, changes in economic and market conditions and maintenance of our status as a real estate investment trust. We discuss these and other risks and uncertainties under the heading "Risk Factors" in our annual and quarterly periodic reports filed with the SEC. We may update that discussion in our periodic reports, but otherwise we undertake no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.

SIMON PROPERTY GROUP
Overview

We hope you find this Supplemental Package beneficial. Any questions, comments or suggestions should be directed to: Shelly J. Doran, Vice President of Investor Relations-Simon Property Group, P.O. Box 7033, Indianapolis, IN 46207. Telephone: (317) 685-7330; e-mail: sdoran@simon.com

Reporting Calendar

Results for the next two quarters will be announced according to the following approximate schedule:


Second Quarter 2010		August 2, 2010
Third Quarter 2010		November 1, 2010

Stock Information

The Company's common stock and one issue of preferred stock are traded on the New York Stock Exchange under the following symbols:


Common Stock		SPG
8.375% Series J Cumulative Redeemable Preferred		SPGPrJ

All outstanding shares of the Company's 6% Series I Convertible Perpetual Preferred Stock (SPGPrI) were redeemed on April 16, 2010 (see Schedule of Preferred Stock/Units Outstanding on page 52 for additional information).

Credit Ratings


Standard & Poor's
	Corporate	A-	(CreditWatch Negative)
	Senior Unsecured	A-	(CreditWatch Negative)
	Preferred Stock	BBB	(CreditWatch Negative)
Moody's
	Senior Unsecured	A3	(Under Review—Direction Uncertain)
	Preferred Stock	Baa1	(Under Review—Direction Uncertain)
Fitch
	Senior Unsecured	A-	(Stable Outlook)
	Preferred Stock	BBB	(Stable Outlook)

Simon Property Group Ownership Structure(1)
March 31, 2010

(1): Schedule excludes Company preferred stock (see "Preferred Stock/Units Outstanding") and Operating Partnership units not convertible into common stock.
(2): This group consists of Melvin Simon & Associates, Inc., ("MSA"), wholly owned subsidiaries of MSA, the estate of Melvin Simon, Herbert Simon, David Simon, MH Holdings, Inc. and related trusts for the benefit of the preceding. MSA is owned 69.06% by the estate of Melvin Simon and 30.94% by a trust for the benefit of Herbert Simon. MH Holdings, Inc. is owned 50% by the estate of Melvin Simon and 50% by a trust for the benefit of Herbert Simon. 3,192,000 common shares and 8,000 shares of Class B common stock owned by one or more members of the group are held by voting trusts as to which Herbert Simon and David Simon are the voting trustees.
(3): The holder of Class B common stock is entitled to elect 4 of the members of the Board of Directors and also has voting rights with common stock.
(4): Other executives includes directors and executive officers of the Company, excluding David Simon and Herbert Simon.

SIMON PROPERTY GROUP
Changes in Company Common Share and Operating Partnership Unit Ownership
For the Period from December 31, 2009 through March 31, 2010



Number Outstanding at December 31, 2009		57,804,779		285,748,271
Issuance of Common Stock for Stock Option Exercises		—		13,350
Conversion of Operating Partnership Units into Common Stock		(146,843	)	146,843
Restricted Stock Awards (Stock Incentive Program)(3)		—		111,013
Conversion of Operating Partnership Preferred Units into Units		55,844		—
Conversion of Series I Preferred Stock into Common Stock		—		3,056,397
Number Outstanding at March 31, 2010		57,713,780		289,075,874
**Details for Diluted Common Shares Outstanding(4):**
Company Common Shares Outstanding at March 31, 2010				289,075,874
Number of Common Shares Issuable Assuming Conversion of:
	Series I 6% Convertible Perpetual Preferred Stock(5)			3,800,746
	Series I 6% Convertible Perpetual Preferred Units(5)			806,463
Net Number of Common Shares Issuable Assuming Exercise of Stock Options(6)				313,742
Diluted Common Shares Outstanding at March 31, 2010(4)				293,996,825

(1): Excludes units owned by the Company (shown here as Company Common Shares) and Operating Partnership units not convertible into common shares.
(2): Excludes Operating Partnership preferred units relating to Company preferred stock outstanding (see Schedule of Preferred Stock/Units Outstanding on page 52).
(3): Net of forfeitures.
(4): For FFO purposes.
(5): Conversion terms provided on page 52 of this document.
(6): Based upon the weighted average stock price for the quarter ended March 31, 2010.

SIMON PROPERTY GROUP
Selected Financial and Equity Information
As of March 31, 2010
Unaudited
(In thousands, except as noted)

	As of or for the Three Months Ended March 31,

	2010		2009
*Financial Highlights of the Company*
Total Revenue—Consolidated Properties	$	925,071	$	918,492
Net Income Attributable to Common Stockholders	$	9,373	$	106,768
Basic Earnings per Common Share (EPS)	$	0.03	$	0.45
Diluted Earnings per Common Share (EPS)	$	0.03	$	0.45
Diluted EPS as adjusted(1)	$	0.51	$	0.45
FFO of the Operating Partnership	$	325,558	$	476,832
Diluted FFO of the Operating Partnership	$	331,072	$	483,710
Basic FFO per Share (FFOPS)	$	0.95	$	1.63
Diluted FFO per Share (FFOPS)	$	0.94	$	1.61
Diluted FFOPS as adjusted(1)	$	1.41	$	1.61
Distributions per Share	$	0.60	$	0.90	(2)

(1): During the first quarter of 2010, the Company recorded a $165.6 million loss on extinguishment of debt. Reconciliations of Diluted EPS as adjusted to Diluted EPS and Diluted FFOPS as adjusted to Diluted FFOPS are as follows:

	As of or for the Three Months Ended March 31,

	2010			2009
Diluted EPS as adjusted to Diluted EPS
Diluted EPS as adjusted	$	0.51		$	0.45
Loss on Debt Extinguishment		(0.48	)		—

Diluted EPS	$	0.03		$	0.45

Diluted FFOPS as adjusted to Diluted FFOPS
Diluted FFOPS as adjusted	$	1.41		$	1.61
Loss on Debt Extinguishment		(0.47	)		—

Diluted FFOPS	$	0.94		$	1.61

(2): In the first quarter of 2009, the Company paid a common stock dividend of $0.90 per share, comprised of 10% cash and 90% shares of the Company's common stock.

SIMON PROPERTY GROUP
Selected Financial and Equity Information
As of March 31, 2010
Unaudited
(In thousands, except as noted)

		March 31, 2010		December 31, 2009

*Stockholders' Equity Information*
Limited Partner Units Outstanding at End of Period			57,714		57,805
Common Shares Outstanding at End of Period			289,076		285,748

Total Common Shares and Units Outstanding at End of Period			346,790		343,553

Weighted Average Limited Partnership Units Outstanding			57,698		57,292
Weighted Average Common Shares Outstanding:
	Basic—for purposes of EPS and FFOPS		286,125		267,055
	Diluted—for purposes of EPS		286,439		268,472
	Diluted—for purposes of FFOPS		293,917		276,100
*Simon Group's Debt Information*
Share of Consolidated Debt		$	17,607,788	$	18,354,130
Share of Joint Venture Debt			6,641,935		6,552,370

Share of Total Debt		$	24,249,723	$	24,906,500

*Simon Group's Market Capitalization*
Common Stock Price at End of Period		$	83.90	$	79.80
Common Equity Capitalization, including common operating partnership units		$	29,095,652	$	27,415,533
Preferred Equity Capitalization, including preferred operating partnership units			440,524		676,021

Total Equity Market Capitalization		$	29,536,176	$	28,091,554

Total Capitalization—Including Simon Group's Share of Total Debt		$	53,785,899	$	52,998,054

		As of or for the Three Months Ended March 31,

		2010		2009
*Miscellaneous Balance Sheet Data*
Interest Capitalized during the Period:
	Consolidated Properties	$	2,421	$	3,813
	Joint Venture Properties	$	26	$	581
	Simon Group's Share of Joint Venture Properties	$	10	$	349

On the following two pages, we present balance sheet and income statement data on a pro-rata basis reflecting our proportionate economic ownership of each asset in the Simon Group portfolio.

Basis of Presentation: The consolidated amounts shown are prepared on a consistent basis with our consolidated financial statements. The Company's Share of Joint Ventures column was derived on a property-by-property basis by applying the same percentage interests used to arrive at our share of net income during the period and applying them to all financial statement line items of each property. A similar calculation was performed for noncontrolling interests.

SIMON PROPERTY GROUP
Unaudited Pro-Rata Statement of Operations

			For the Three Months Ended March 31, 2010

			For the Three Months Ended March 31, 2010															For the Three Months Ended March 31, 2009 Our Total Share
			Consolidated			Non- Controlling Interests			Our Consolidated Share			Our Share of Joint Ventures			Our Total Share			For the Three Months Ended March 31, 2009 Our Total Share
REVENUE:
	Minimum rent		$	571,610		$	(8,618	)	$	562,992		$	195,086		$	758,078		$	746,374
	Overage rent			13,211			(51	)		13,160			12,383			25,543			20,597
	Tenant reimbursements			255,928			(5,401	)		250,527			91,915			342,442			345,125
	Management fees and other revenues			28,568			—			28,568			—			28,568			30,651
	Other income			55,754			(319	)		55,435			24,487			79,922			67,982

		Total revenue		925,071			(14,389	)		910,682			323,871			1,234,553			1,210,729

EXPENSES:
	Property operating			98,768			(2,885	)		95,883			61,116			156,999			161,425
	Depreciation and amortization			228,909			(2,088	)		226,821			97,175			323,996			352,015
	Real estate taxes			89,729			(1,488	)		88,241			26,122			114,363			112,295
	Repairs and maintenance			23,745			(718	)		23,027			11,449			34,476			32,503
	Advertising and promotion			18,836			(260	)		18,576			6,311			24,887			23,748
	Provision for credit losses			(3,451	)		93			(3,358	)		521			(2,837	)		16,798
	Home and regional office costs			17,315			—			17,315			—			17,315			26,163
	General and administrative			5,112			—			5,112			—			5,112			4,048
	Transaction expenses			3,700			—			3,700			—			3,700			—
	Other			15,492			(752	)		14,740			20,605			35,345			35,090

		Total operating expenses		498,155			(8,098	)		490,057			223,299			713,356			764,085

OPERATING INCOME				426,916			(6,291	)		420,625			100,572			521,197			446,644
Interest expense				(263,959	)		3,630			(260,329	)		(82,990	)		(343,319	)		(305,958	)
Loss on extinguishment of debt				(165,625	)		—			(165,625	)		—			(165,625	)		—
Income tax (expense) benefit of taxable REIT subsidiaries				(202	)		—			(202	)		—			(202	)		2,523
Income from unconsolidated entities				17,582			—			17,582			(17,582	)		—			—
Gain on sale or disposal of assets				6,042			—			6,042			—			6,042			—

CONSOLIDATED NET INCOME				20,754			(2,661	)		18,093			—			18,093			143,209
Net income attributable to noncontrolling interests				5,771			(2,661	)		3,110			—			3,110			29,912
Preferred dividends				5,610			—			5,610			—			5,610			6,529

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS			$	9,373		$	—		$	9,373		$	—		$	9,373		$	106,768

RECONCILIATION OF CONSOLIDATED NET INCOME TO FFO
Consolidated Net Income									$	20,754		$	—		$	20,754		$	146,248
Adjustments to Consolidated Net Income to Arrive at FFO:
	Depreciation and amortization from consolidated properties and discontinued operations									225,430			—			225,430			252,913
	Simon's share of depreciation and amortization from unconsolidated entities									—			96,879			96,879			93,378
	Income from unconsolidated entities									(17,582	)		17,582			—			—
	Gain on sale or disposal of assets									(6,042	)		—			(6,042	)		—
	Net income attributable to noncontrolling interest holders in properties									(2,663	)		—			(2,663	)		(3,039	)
	Noncontrolling interests portion of depreciation and amortization									(1,972	)		—			(1,972	)		(1,962	)
	Preferred distributions and dividends									(6,828	)		—			(6,828	)		(10,706	)

	FFO of the Operating Partnership								$	211,097		$	114,461		$	325,558		$	476,832

		Percentage of FFO of the Operating Partnership								64.84	%		35.16	%		100.00	%		100.00	%

SIMON PROPERTY GROUP
Unaudited Pro-Rata Balance Sheet

				As of March 31, 2010

				Consolidated			Non- Controlling Interests			Our Consolidated Share			Our Share of Joint Ventures			Our Total Share			As of December 31, 2009 Our Total Share
ASSETS:
	Investment properties, at cost			$	25,111,988		$	(185,930	)	$	24,926,058		$	9,359,381		$	34,285,439		$	34,426,322
		Less—accumulated depreciation			7,026,845			(88,668	)		6,938,177			1,663,015			8,601,192			8,531,014

					18,085,143			(97,262	)		17,987,881			7,696,366			25,684,247			25,895,308
	Cash and cash equivalents				3,326,642			(6,480	)		3,320,162			289,135			3,609,297			4,261,201
	Tenant receivables and accrued revenue, net				355,469			(4,518	)		350,951			133,364			484,315			541,813
	Investment in unconsolidated entities, at equity				1,418,987			—			1,418,987			(1,418,987	)		—			—
	Deferred costs and other assets				1,159,035			(2,929	)		1,156,106			192,812			1,348,918			1,341,821
	Note receivable from related party				632,000			—			632,000			—			632,000			632,000

			Total assets	$	24,977,276		$	(111,189	)	$	24,866,087		$	6,892,690		$	31,758,777		$	32,672,143

LIABILITIES:
	Mortgages and other indebtedness			$	17,883,189		$	(275,401	)	$	17,607,788		$	6,641,935		$	24,249,723		$	24,906,500
	Accounts payable, accrued expenses, intangibles, and deferred revenues				952,526			(8,779	)		943,747			318,619			1,262,366			1,323,741
	Cash distributions and losses in partnerships and joint ventures, at equity				469,453			—			469,453			(469,453	)		—			—
	Other liabilities and accrued dividends				182,488			(1,090	)		181,398			401,589			582,987			558,383

			Total liabilities		19,487,656			(285,270	)		19,202,386			6,892,690			26,095,076			26,788,624

Limited partners' preferred interest in the Operating Partnership and noncontrolling redeemable interests in properties					123,859			2,570			126,429			—			126,429			128,221
Series I 6% convertible perpetual preferred stock, 19,000,000 shares authorized, 4,484,683 and 8,091,155 issued and outstanding, respectively, at liquidation value					224,234			—			224,234			—			224,234			404,558
EQUITY:
Stockholders' equity
	Capital Stock (850,000,000 total shares authorized, $.0001 par value, 238,000,000 shares of excess common stock, 100,000,000 authorized shares of preferred stock):
		Series J 8³/8% cumulative redeemable preferred stock, 1,000,000 shares authorized, 796,948 issued and outstanding, with a liquidation value of $39,847			45,622			—			45,622			—			45,622			45,704
		Common stock, $.0001 par value, 511,990,000 shares authorized, 293,080,911 and 289,866,711 issued, respectively			29			—			29			—			29			29
		Class B common stock, $.0001 par value, 10,000 shares authorized, 8,000 issued and outstanding			—			—			—			—			—			—
	Capital in excess of par value				7,704,856			—			7,704,856			—			7,704,856			7,547,959
	Accumulated deficit				(3,119,320	)		—			(3,119,320	)		—			(3,119,320	)		(2,955,671	)
	Accumulated other comprehensive loss				(27,517	)		—			(27,517	)		—			(27,517	)		(3,088	)
	Common stock held in treasury at cost, 4,013,037 and 4,126,440 shares, respectively				(167,250	)		—			(167,250	)		—			(167,250	)		(176,796	)

		Total stockholders' equity			4,436,420			—			4,436,420			—			4,436,420			4,458,137
	Noncontrolling interests				705,107			171,511			876,618			—			876,618			892,603

			Total equity		5,141,527			171,511			5,313,038			—			5,313,038			5,350,740

			Total liabilities and equity	$	24,977,276		$	(111,189	)	$	24,866,087		$	6,892,690		$	31,758,777		$	32,672,143

SIMON PROPERTY GROUP
Reconciliation of Net Income to NOI
As of March 31, 2010
(in thousands, except as noted)

Industry practice is to evaluate real estate properties on an unleveraged basis. Net Operating Income ("NOI") is a standard industry performance measure which is defined as operating income plus depreciation and amortization, both calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). We consider NOI to be a key measure of our operating performance that is not specifically defined by GAAP. We believe that NOI is helpful to investors because it is a widely recognized measure of the performance of REITs and provides a relevant basis for comparison among REITs. We also use NOI internally to measure the operating performance of our portfolio.

However, you should understand that NOI:

•: does not represent cash flow from operations as defined by GAAP,
•: should not be considered as an alternative to net income determined in accordance with GAAP as a measure of operating performance,
•: is not an alternative to cash flows as a measure of liquidity, and
•: is not indicative of cash flows from operating, investing and financing activities.

The Reconciliation of Net Income to NOI provides net income, which we believe is the most directly comparable GAAP financial measure, and reconciles the amounts to "Total NOI of the Simon Group Portfolio." This schedule also provides the change in NOI of comparable properties for the three months ended March 31, 2010.

	For the Three Months Ended March 31,

	2010			2009
Reconciliation of NOI of consolidated Properties:
Consolidated Net Income	$	20,754		$	146,248
Income tax expense (benefit) of taxable REIT subsidiaries		202			(2,523	)
Interest expense		263,959			226,036
Income from unconsolidated entities		(17,582	)		(5,545	)
Loss on extinguishment of debt		165,625			—
Gain on sale or disposal of assets		(6,042	)		—

Operating Income		426,916			364,216
Depreciation and amortization		228,909			256,337

NOI of consolidated Properties	$	655,825		$	620,553

Reconciliation of NOI of unconsolidated entities:
Net Income	$	74,113		$	50,471
Interest expense		217,163			219,151
Loss from unconsolidated entities		439			768

Operating Income		291,715			270,390
Depreciation and amortization		199,037			187,463

NOI of unconsolidated entities	$	490,752		$	457,853

Total NOI of the Simon Group Portfolio	$	1,146,577		$	1,078,406

Change in NOI from prior period		6.3	%		4.0	%
Less: Joint venture partner's share of NOI		301,384			279,747

Simon Group's Share of NOI	$	845,193		$	798,659

Change in Simon Group's Share of NOI from prior period		5.8	%		4.8	%
NOI of Comparable Properties(1)	$	861,513		$	840,232

Increase in NOI of Comparable Properties(1)		2.5	%

(1): Properties that were owned in both of the periods under comparison are referred to as comparable properties. Does not include community/lifestyle centers, properties owned by SPG-FCM (the Mills portfolio) or international properties.

SIMON PROPERTY GROUP

NOI Composition(1)

For the Three Months Ended March 31, 2010



*U.S. Portfolio NOI by State*
Florida	13.0	%
Texas	11.5	%
California	10.6	%
Massachusetts	7.3	%
New York	7.2	%
Georgia	5.2	%
Nevada	4.9	%
Indiana	4.6	%
New Jersey	4.4	%
Pennsylvania	4.2	%

Top 10 Contributors by State	72.9	%

*NOI by Asset Type*
Regional Malls and Premium Outlets	86.3	%
The Mills	4.8	%
International(2)	4.5	%
Community/Lifestyle Centers	4.2	%
Other	0.2	%

Total	100.0	%

(1): Based on Simon Group's share of total NOI and does not reflect any property, entity or corporate-level debt.
(2): International includes eight Premium Outlets in Japan and one Premium Outlet in both Mexico and South Korea, plus the shopping centers in France, Italy and Poland.

SIMON PROPERTY GROUP
Analysis of Other Income and Other Expense
As of March 31, 2010
(In thousands)

	For the Three Months Ended March 31,

	2010		2009
*Consolidated Properties*
*Other Income*
Interest Income	$	7,714	$	6,617
Lease Settlement Income		20,559		13,435
Gains on Land Sales		1,752		228
Other		25,729		24,885

Totals	$	55,754	$	45,165

*Other Expense*
Ground Rent	$	8,745	$	7,819
Professional Fees		3,034		2,858
Other		3,713		8,552

Totals	$	15,492	$	19,229

SIMON PROPERTY GROUP
U.S. Portfolio GLA
As of March 31, 2010

Type of Property

Regional Malls
	Mall Stores	58,567,568	58,237,260	38.2	%
	Freestanding	4,396,862	1,849,500	1.2	%
	Anchors	95,005,136	25,669,541	16.9	%
	Office	1,951,870	1,951,870	1.3	%

Regional Mall Total		159,921,436	87,708,171	57.6	%
Premium Outlets		17,203,325	16,988,703	11.1	%
Community/Lifestyle Centers		20,199,257	13,799,431	9.1	%
	The Mills®	22,725,732	20,210,686	13.3	%
	Mills Regional Malls	17,554,603	8,731,395	5.7	%
	Mills Community Centers	1,014,074	962,520	0.6	%

Mills Portfolio Total		41,294,409	29,904,601	19.6	%
Other(1)		5,014,942	3,983,018	2.6	%

Total U.S. Properties		243,633,369	152,383,924	100.0	%

(1): Consists of ten other shopping centers and non-Premium Outlets and four regional malls. These properties contribute 0.2% of Simon Group's share of total NOI.

SIMON PROPERTY GROUP
U.S. Operational Information(1)
As of March 31, 2010

		As of or for the Three Months Ended March 31,

		2010			2009
Total Number of Properties			202			203
Total GLA (in millions of square feet)			177.1			177.3
Occupancy(2)
	Consolidated Assets		92.8	%		92.5	%
	Unconsolidated Assets		90.7	%		91.0	%
	Total Portfolio		92.2	%		92.1	%
Comparable sales per square foot(3)
	Consolidated Assets	$	458		$	458
	Unconsolidated Assets	$	496		$	495
	Total Portfolio	$	467		$	467
Average rent per square foot(2)
	Consolidated Assets	$	37.15		$	35.59
	Unconsolidated Assets	$	43.44		$	43.32
	Total Portfolio	$	38.72		$	37.51

Historical Data:			Comparable Sales Per Square Foot(3)		Average Rent Per Square Foot(2)

12/31/09	93.4	%	$	452	$	38.47
12/31/08	93.8	%	$	480		36.69
12/31/07	94.7	%	$	495		34.67
12/31/06	94.3	%	$	475		33.14
12/31/05	94.2	%	$	448		32.36

Small Shop Leasing Activity for the for the Twelve Months Ended:

	Average Base Rent(4)

	Lease Openings		Store Closings/ Lease Expirations		Amount of Change (Referred to as "Leasing Spread")
3/31/10	$	42.82	$	40.71	$	2.11	5.2	%
12/31/09		43.24		38.32		4.92	12.8	%
9/30/09		41.78		36.35		5.43	14.9	%
6/30/09		43.73		35.68		8.05	22.6	%
3/31/09		45.18		34.83		10.35	29.7	%
12/31/08		43.93		34.96		8.97	20.4	%
12/31/07		41.41		34.84		6.57	15.9	%
12/31/06		39.78		33.26		6.52	16.4	%
12/31/05		38.53		31.95		6.58	17.1	%

(1): Represents combined results for regional malls and Premium Outlets. Does not include information for community/lifestyle centers, properties owned by SPG-FCM (the Mills portfolio) or international properties.
(2): Represents mall stores in regional malls and all owned gross leasable area in Premium Outlets.
(3): Based upon the standard definition of sales for regional malls adopted by the International Council of Shopping Centers which includes mall stores less than 10,000 square feet in regional malls and all owned gross leasable area in Premium Outlets.
(4): Represents the average base rent in effect during the period for those tenants who opened as compared to the average base rent in effect during the period for those tenants whose leases terminated or expired.

SIMON PROPERTY GROUP
U.S. Lease Expirations(1)(2)
As of March 31, 2010

Year			Avg. Base Rent per Square Foot at 3/31/10

Small Shops
Month to Month Leases	991	3,229,542	$	36.90
2010 (4/1/10 - 12/31/10)	1,073	3,060,334	$	36.93
2011	3,047	8,569,460	$	33.34
2012	2,438	8,391,163	$	34.15
2013	2,171	6,738,400	$	39.19
2014	1,849	6,090,890	$	37.81
2015	1,631	5,971,987	$	39.38
2016	1,541	4,633,191	$	42.77
2017	1,537	5,157,600	$	43.70
2018	1,547	5,869,286	$	47.09
2019	1,337	5,191,539	$	45.42
2020	530	2,199,959	$	43.25
2021 and Thereafter	312	1,972,907	$	35.05
Specialty Leasing Agreements w/ terms in excess of 12 months	1,471	3,424,047	$	14.51
Anchor Tenants
2010 (4/1/10 - 12/31/10)	10	946,548	$	4.37
2011	17	1,933,210	$	4.25
2012	25	3,179,826	$	3.83
2013	29	3,768,732	$	4.51
2014	32	3,306,934	$	4.79
2015	25	3,282,178	$	2.88
2016	10	1,254,122	$	3.60
2017	4	608,377	$	2.85
2018	7	687,836	$	7.16
2019	11	1,384,187	$	4.06
2020	10	887,577	$	5.39
2021 and Thereafter	23	2,365,367	$	5.67

(1): Represents combined results for regional malls and Premium Outlets. Does not include community/lifestyle centers, properties owned by SPG-FCM (the Mills portfolio) or international properties.
(2): Does not consider the impact of renewal options that may be contained in leases.

SIMON PROPERTY GROUP
U.S. Top Tenants(1)
As of March 31, 2010

Top Small Shop Tenants (sorted by percentage of total Simon Group base minimum rent)

Tenant

The Gap, Inc.	366	4,009	1.6	%	2.9	%
Limited Brands, Inc.	332	1,865	0.8	%	2.1	%
Abercrombie & Fitch Co.	227	1,614	0.7	%	1.7	%
Foot Locker, Inc.	393	1,528	0.6	%	1.4	%
Luxottica Group S.P.A	421	797	0.3	%	1.1	%
Zale Corporation	350	377	0.2	%	1.1	%
American Eagle Outfitters, Inc.	169	958	0.4	%	1.0	%
Genesco, Inc.	419	617	0.3	%	0.9	%
Express LLC	112	985	0.4	%	0.9	%
Sterling Jewelers, Inc.	199	309	0.1	%	0.9	%

Top Anchors (sorted by percentage of total Simon Group square footage)(2)

Tenant

Macy's, Inc.	149	26,650	10.9	%	0.4	%
Sears Roebuck & Co.	120	18,213	7.5	%	0.2	%
J.C. Penney Co., Inc.	113	16,098	6.6	%	0.6	%
Dillard's Dept. Stores	75	11,586	4.8	%	0.1	%
Nordstrom, Inc.	27	4,590	1.9	%	0.1	%
Belk, Inc.	22	2,792	1.1	%	0.3	%
The Bon-Ton Stores, Inc.	22	2,180	0.9	%	0.2	%
Target Corporation	13	1,686	0.7	%	0.0	%
The Neiman Marcus Group, Inc.	10	1,265	0.5	%	0.1	%
Dick's Sporting Goods, Inc.	18	1,188	0.5	%	0.3	%
Boscov's Department Store LLC	6	1,099	0.5	%	0.0	%
Saks Incorporated	9	1,053	0.4	%	0.2	%

(1): Represents combined results for regional malls and Premium Outlets. Does not include community/lifestyle centers, properties owned by SPG-FCM (the Mills portfolio) or international properties.
(2): Includes space leased and owned by the anchor.

SIMON PROPERTY GROUP
Other U.S. Operational Information
As of March 31, 2010

	As of or for the Three Months Ended March 31,

	2010			2009
*Community/Lifestyle Centers*
Total Number of Properties		66			70
Total GLA (in millions of square feet)		20.2			20.8
Occupancy(1)		90.3	%		87.4	%
Average rent per square foot(1)	$	13.44		$	13.37
*The Mills Portfolio(2)*
*The Mills®*
Total Number of Properties		16			16
Total GLA (in millions of square feet)		22.7			22.9
Occupancy(1)		93.3	%		89.7	%
Comparable sales per square foot(3)	$	372		$	373
Average rent per square foot(1)	$	19.79		$	19.78
*Mills Regional Malls(4)*
Total Number of Properties		16			16
Total GLA (in millions of square feet)		17.6			17.5
Occupancy(5)		88.6	%		87.4	%
Comparable sales per square foot(3)	$	389		$	410
Average rent per square foot(5)	$	35.42		$	37.14

(1): For all owned gross leasable area.
(2): Excludes four community/lifestyle centers in the Mills portfolio.
(3): Based upon the standard definition of sales for regional malls adopted by the International Council of Shopping Centers which includes mall stores less than 10,000 square feet.
(4): Does not include two regional malls in Atlanta (Gwinnett Place and Town Center at Cobb) in which the Company held a 50% interest prior to the Mills acquisition.
(5): For mall stores.

SIMON PROPERTY GROUP
International Operational Information
As of March 31, 2010

	As of or for the Three Months Ended March 31,

	2010			2009
*International Properties*
*European Shopping Centers*
Total Number of Properties		53			52
Total GLA (in millions of square feet)		14.4			13.5
Occupancy		95.4	%		98.5	%
Comparable sales per square foot	€	407		€	409
Average rent per square foot	€	31.13		€	30.86
**International Premium Outlets—Japan(1)**
Total Number of Properties		8			7
Total GLA (in millions of square feet)		2.4			2.0
Occupancy		99.6	%		99.9	%
Comparable sales per square foot	¥	90,993		¥	91,492
Average rent per square foot	¥	4,731		¥	4,705

(1): Does not include Premium Outlets Punta Norte in Mexico or Yeoju Premium Outlets in South Korea.

SIMON PROPERTY GROUP
Property Listing

Regional Malls(1)

	Property Name	State	City (CBSA)

1.	McCain Mall	AR	N. Little Rock	100.0	%	775,852
2.	Brea Mall	CA	Brea (Los Angeles)	100.0	%	1,319,054
3.	Coddingtown Mall	CA	Santa Rosa	50.0	%	841,558
4.	Fashion Valley	CA	San Diego	50.0	%	1,723,287
5.	Laguna Hills Mall	CA	Laguna Hills (Los Angeles)	100.0	%	866,158
6.	Santa Rosa Plaza	CA	Santa Rosa	100.0	%	692,427
7.	Shops at Mission Viejo, The	CA	Mission Viejo (Los Angeles)	100.0	%	1,149,547
8.	Stanford Shopping Center	CA	Palo Alto (San Francisco)	100.0	%	1,364,367	(7)
9.	Westminster Mall	CA	Westminster (Los Angeles)	100.0	%	1,187,818
10.	Mesa Mall(2)	CO	Grand Junction	50.0	%	882,172
11.	Town Center at Aurora	CO	Aurora (Denver)	100.0	%	1,081,531
12.	Crystal Mall	CT	Waterford	74.6	%	782,876
13.	Aventura Mall(2)	FL	Miami Beach (Miami)	33.3	%	2,099,898
14.	Avenues, The	FL	Jacksonville	25.0	%(3)	1,117,023
15.	Boynton Beach Mall	FL	Boynton Beach (Miami)	100.0	%	1,100,284
16.	Coconut Point	FL	Estero	50.0	%	1,199,873	(7)
17.	Coral Square	FL	Coral Springs (Miami)	97.2	%	941,339
18.	Cordova Mall	FL	Pensacola	100.0	%	851,723
19.	Crystal River Mall	FL	Crystal River	100.0	%	420,109
20.	Dadeland Mall	FL	Miami	50.0	%	1,487,658
21.	DeSoto Square	FL	Bradenton	100.0	%	678,069
22.	Edison Mall	FL	Fort Myers	100.0	%	1,050,989
23.	Florida Mall, The	FL	Orlando	50.0	%	1,769,303
24.	Gulf View Square	FL	Port Richey (Tampa)	100.0	%	753,564
25.	Indian River Mall	FL	Vero Beach	50.0	%	737,108
26.	Lake Square Mall	FL	Leesburg (Orlando)	50.0	%	559,088
27.	Melbourne Square	FL	Melbourne	100.0	%	665,241
28.	Miami International Mall	FL	Miami	47.8	%	1,071,588
29.	Orange Park Mall	FL	Orange Park (Jacksonville)	100.0	%	957,944
30.	Paddock Mall	FL	Ocala	100.0	%	554,033
31.	Port Charlotte Town Center	FL	Port Charlotte	80.0	%(4)	766,563
32.	Seminole Towne Center	FL	Sanford (Orlando)	45.0	%(3)	1,125,889
33.	Shops at Sunset Place, The	FL	S. Miami	37.5	%(3)	514,437
34.	St. Johns Town Center	FL	Jacksonville	50.0	%	1,221,235
35.	Town Center at Boca Raton	FL	Boca Raton (Miami)	100.0	%	1,753,683
36.	Treasure Coast Square	FL	Jensen Beach	100.0	%	878,363
37.	Tyrone Square	FL	St. Petersburg (Tampa)	100.0	%	1,095,347
38.	Gwinnett Place	GA	Duluth (Atlanta)	75.0	%	1,279,928	(7)
39.	Lenox Square	GA	Atlanta	100.0	%	1,544,024
40.	Mall of Georgia	GA	Buford (Atlanta)	100.0	%	1,759,238
41.	Northlake Mall	GA	Atlanta	100.0	%	962,133
42.	Phipps Plaza	GA	Atlanta	100.0	%	818,177
43.	Town Center at Cobb	GA	Kennesaw (Atlanta)	75.0	%	1,275,898
44.	Lindale Mall(2)	IA	Cedar Rapids	50.0	%	688,593
45.	NorthPark Mall	IA	Davenport	50.0	%	1,073,110
46.	Southern Hills Mall(2)	IA	Sioux City	50.0	%	796,680
47.	SouthRidge Mall(2)	IA	Des Moines	50.0	%	889,046
48.	Lincolnwood Town Center	IL	Lincolnwood (Chicago)	100.0	%	421,382
49.	Northfield Square Mall	IL	Bourbonnais	31.6	%(4)	530,011
50.	Northwoods Mall	IL	Peoria	100.0	%	694,316
51.	Orland Square	IL	Orland Park (Chicago)	100.0	%	1,210,127

SIMON PROPERTY GROUP
Property Listing

Regional Malls(1)

	Property Name	State	City (CBSA)

52.	River Oaks Center	IL	Calumet City (Chicago)	100.0	%	1,352,187	(7)
53.	SouthPark Mall	IL	Moline	50.0	%	1,017,107
54.	White Oaks Mall	IL	Springfield	80.7	%	929,871	(7)
55.	Castleton Square	IN	Indianapolis	100.0	%	1,381,525
56.	Circle Centre	IN	Indianapolis	14.7	%(3)	735,772
57.	College Mall	IN	Bloomington	100.0	%	636,606
58.	Eastland Mall	IN	Evansville	50.0	%	865,310
59.	Fashion Mall at Keystone, The	IN	Indianapolis	100.0	%	683,492
60.	Greenwood Park Mall	IN	Greenwood (Indianapolis)	100.0	%	1,280,173
61.	Markland Mall	IN	Kokomo	100.0	%	415,892
62.	Muncie Mall	IN	Muncie	100.0	%	635,037
63.	Tippecanoe Mall	IN	Lafayette	100.0	%	862,773
64.	University Park Mall	IN	Mishawaka	100.0	%	922,626
65.	Washington Square	IN	Indianapolis	100.0	%	963,268
66.	Towne East Square	KS	Wichita	100.0	%	1,120,581
67.	Towne West Square	KS	Wichita	100.0	%	941,485
68.	West Ridge Mall	KS	Topeka	100.0	%	992,313
69.	Prien Lake Mall	LA	Lake Charles	100.0	%	791,243
70.	Arsenal Mall	MA	Watertown (Boston)	100.0	%	450,128	(7)
71.	Atrium Mall	MA	Chestnut Hill (Boston)	49.1	%	205,605
72.	Auburn Mall	MA	Auburn	49.1	%	588,130
73.	Burlington Mall	MA	Burlington (Boston)	100.0	%	1,317,759
74.	Cape Cod Mall	MA	Hyannis	49.1	%	725,607
75.	Copley Place	MA	Boston	98.1	%	1,243,193	(7)
76.	Emerald Square	MA	North Attleboro (Providence, RI)	49.1	%	1,022,548
77.	Greendale Mall	MA	Worcester (Boston)	49.1	%	430,807	(7)
78.	Liberty Tree Mall	MA	Danvers (Boston)	49.1	%	858,302
79.	Mall at Chestnut Hill, The	MA	Chestnut Hill (Boston)	47.2	%	474,909
80.	Northshore Mall	MA	Peabody (Boston)	49.1	%	1,581,257	(7)
81.	Solomon Pond Mall	MA	Marlborough (Boston)	49.1	%	886,848
82.	South Shore Plaza	MA	Braintree (Boston)	100.0	%	1,303,073
83.	Square One Mall	MA	Saugus (Boston)	49.1	%	930,647
84.	Bowie Town Center	MD	Bowie (Washington, D.C.)	100.0	%	684,357
85.	St. Charles Towne Center	MD	Waldorf (Washington, D.C.)	100.0	%	979,905
86.	Bangor Mall	ME	Bangor	67.4	%(6)	652,722
87.	Maplewood Mall	MN	St. Paul (Minneapolis)	100.0	%	930,013
88.	Miller Hill Mall	MN	Duluth	100.0	%	805,552
89.	Battlefield Mall	MO	Springfield	100.0	%	1,198,845
90.	Independence Center	MO	Independence (Kansas City)	100.0	%	1,031,751
91.	SouthPark	NC	Charlotte	100.0	%	1,625,581
92.	Mall at Rockingham Park, The	NH	Salem (Boston)	24.6	%	1,020,083
93.	Mall of New Hampshire, The	NH	Manchester	49.1	%	811,320
94.	Pheasant Lane Mall	NH	Nashua		(5)	869,807
95.	Brunswick Square	NJ	East Brunswick (New York)	100.0	%	765,293
96.	Livingston Mall	NJ	Livingston (New York)	100.0	%	984,641
97.	Menlo Park Mall	NJ	Edison (New York)	100.0	%	1,323,005	(7)
98.	Ocean County Mall	NJ	Toms River (New York)	100.0	%	890,283
99.	Quaker Bridge Mall	NJ	Lawrenceville	38.0	%(6)	1,098,690
100.	Rockaway Townsquare	NJ	Rockaway (New York)	100.0	%	1,243,573

SIMON PROPERTY GROUP
Property Listing

Regional Malls(1)

	Property Name	State	City (CBSA)

101.	Cottonwood Mall	NM	Albuquerque	100.0	%	1,040,713
102.	Forum Shops at Caesars, The	NV	Las Vegas	100.0	%	645,149
103.	Chautauqua Mall	NY	Lakewood	100.0	%	425,291
104.	Jefferson Valley Mall	NY	Yorktown Heights (New York)	100.0	%	580,265
105.	Roosevelt Field	NY	Garden City (New York)	100.0	%	2,227,043	(7)
106.	Smith Haven Mall	NY	Lake Grove (New York)	25.0	%	1,287,415
107.	Walt Whitman Mall	NY	Huntington Station (New York)	100.0	%	1,027,520
108.	Westchester, The	NY	White Plains (New York)	40.0	%	827,390	(7)
109.	Great Lakes Mall	OH	Mentor (Cleveland)	100.0	%	1,234,687	(7)
110.	Lima Mall	OH	Lima	100.0	%	737,690
111.	Richmond Town Square	OH	Richmond Heights (Cleveland)	100.0	%	1,015,451
112.	Southern Park Mall	OH	Youngstown	100.0	%	1,189,723
113.	Summit Mall	OH	Akron	100.0	%	770,293
114.	Upper Valley Mall	OH	Springfield	100.0	%	739,804
115.	Penn Square Mall	OK	Oklahoma City	94.5	%	1,050,669
116.	Woodland Hills Mall	OK	Tulsa	94.5	%	1,092,032
117.	Century III Mall	PA	West Mifflin (Pittsburgh)	100.0	%	1,225,375	(7)
118.	Granite Run Mall	PA	Media (Philadelphia)	50.0	%	1,032,551
119.	King of Prussia Mall	PA	King of Prussia (Philadelphia)	12.4	%(6)	2,615,477	(7)
120.	Lehigh Valley Mall	PA	Whitehall	37.6	%(6)	1,169,065	(7)
121.	Montgomery Mall	PA	North Wales (Philadelphia)	60.0	%(6)	1,147,484
122.	Oxford Valley Mall	PA	Langhorne (Philadelphia)	65.0	%(6)	1,332,185	(7)
123.	Ross Park Mall	PA	Pittsburgh	100.0	%	1,207,923
124.	South Hills Village	PA	Pittsburgh	100.0	%	1,141,179	(7)
125.	Springfield Mall(2)	PA	Springfield (Philadelphia)	38.0	%(6)	589,275
126.	Plaza Carolina	PR	Carolina (San Juan)	100.0	%	1,077,393	(7)
127.	Anderson Mall	SC	Anderson	100.0	%	671,885
128.	Haywood Mall	SC	Greenville	100.0	%	1,231,161
129.	Empire Mall(2)	SD	Sioux Falls	50.0	%	1,073,985
130.	Rushmore Mall(2)	SD	Rapid City	50.0	%	834,897
131.	Knoxville Center	TN	Knoxville	100.0	%	978,166	(7)
132.	Oak Court Mall	TN	Memphis	100.0	%	848,967	(7)
133.	West Town Mall	TN	Knoxville	50.0	%	1,336,669
134.	Wolfchase Galleria	TN	Memphis	94.5	%	1,152,526
135.	Barton Creek Square	TX	Austin	100.0	%	1,429,571
136.	Broadway Square	TX	Tyler	100.0	%	627,953
137.	Cielo Vista Mall	TX	El Paso	100.0	%	1,242,926
138.	Domain, The	TX	Austin	100.0	%	1,090,690	(7)
139.	Firewheel Town Center	TX	Garland (Dallas)	100.0	%	1,004,241	(7)
140.	Galleria, The	TX	Houston	31.5	%	2,298,426
141.	Ingram Park Mall	TX	San Antonio	100.0	%	1,125,731
142.	Irving Mall	TX	Irving (Dallas)	100.0	%	1,052,994
143.	La Plaza Mall	TX	McAllen	100.0	%	1,199,803
144.	Lakeline Mall	TX	Cedar Park (Austin)	100.0	%	1,097,944
145.	Longview Mall	TX	Longview	100.0	%	638,588
146.	Midland Park Mall	TX	Midland	100.0	%	617,576
147.	North East Mall	TX	Hurst (Dallas)	100.0	%	1,670,146
148.	Rolling Oaks Mall	TX	San Antonio	100.0	%	883,401	(7)
149.	Sunland Park Mall	TX	El Paso	100.0	%	917,642

SIMON PROPERTY GROUP
Property Listing

Regional Malls(1)

	Property Name	State	City (CBSA)

150.	Valle Vista Mall	TX	Harlingen	100.0	%	651,102
151.	Apple Blossom Mall	VA	Winchester	49.1	%	439,862
152.	Charlottesville Fashion Square	VA	Charlottesville	100.0	%	569,861
153.	Chesapeake Square	VA	Chesapeake (Virginia Beach)	75.0	%(4)	792,687
154.	Fashion Centre at Pentagon City, The	VA	Arlington (Washington, DC)	42.5	%	989,006	(7)
155.	Valley Mall	VA	Harrisonburg	50.0	%	506,279
156.	Virginia Center Commons	VA	Glen Allen	100.0	%	785,406
157.	Columbia Center	WA	Kennewick	100.0	%	768,418
158.	Northgate Mall	WA	Seattle	100.0	%	1,058,557
159.	Tacoma Mall	WA	Tacoma (Seattle)	100.0	%	1,253,094
160.	Bay Park Square	WI	Green Bay	100.0	%	710,904
161.	Forest Mall	WI	Fond Du Lac	100.0	%	500,174

	Total Regional Mall GLA					159,921,436

Premium Outlets

	Property Name	State	City (Metro Area Served)

1.	Camarillo Premium Outlets	CA	Camarillo (Los Angeles)	100.0	%	673,913
2.	Carlsbad Premium Outlets	CA	Carlsbad (San Diego)	100.0	%	288,045
3.	Desert Hills Premium Outlets	CA	Cabazon (Palm Springs)	100.0	%	501,733
4.	Folsom Premium Outlets	CA	Folsom (Sacramento)	100.0	%	296,035
5.	Gilroy Premium Outlets	CA	Gilroy (San Jose)	100.0	%	577,906
6.	Las Americas Premium Outlets	CA	San Diego	100.0	%	560,873
7.	Napa Premium Outlets	CA	Napa	100.0	%	179,392
8.	Petaluma Village Premium Outlets	CA	Petaluma	100.0	%	195,953
9.	Vacaville Premium Outlets	CA	Vacaville	100.0	%	437,523
10.	Clinton Crossing Premium Outlets	CT	Clinton	100.0	%	276,173
11.	Orlando Premium Outlets	FL	Orlando	100.0	%	549,534
12.	St. Augustine Premium Outlets	FL	St. Augustine (Jacksonsville)	100.0	%	328,557
13.	North Georgia Premium Outlets	GA	Dawsonville (Atlanta)	100.0	%	538,348
14.	Waikele Premium Outlets	HI	Waipahu (Honolulu)	100.0	%	209,937
15.	Chicago Premium Outlets	IL	Aurora (Chicago)	100.0	%	437,367
16.	Edinburgh Premium Outlets	IN	Edinburgh (Indianapolis)	100.0	%	377,814
17.	Lighthouse Place Premium Outlets	IN	Michigan City	100.0	%	454,325
18.	Wrentham Village Premium Outlets	MA	Wrentham (Boston)	100.0	%	636,002
19.	Kittery Premium Outlets	ME	Kittery	100.0	%	264,543
20.	Albertville Premium Outlets	MN	Albertville (Minneapolis)	100.0	%	429,563
21.	Osage Beach Premium Outlets	MO	Osage Beach	100.0	%	393,099
22.	Carolina Premium Outlets	NC	Smithfield	100.0	%	438,978
23.	Jackson Premium Outlets	NJ	Jackson (New York)	100.0	%	285,719
24.	Jersey Shore Premium Outlets	NJ	Tinton Falls (New York)	100.0	%	434,391
25.	Liberty Village Premium Outlets	NJ	Flemington (New York)	100.0	%	164,266
26.	Las Vegas Outlet Center	NV	Las Vegas	100.0	%	469,047
27.	Las Vegas Premium Outlets	NV	Las Vegas	100.0	%	538,681

SIMON PROPERTY GROUP
Property Listing

Premium Outlets

	Property Name	State	City (CBSA)

28.	Waterloo Premium Outlets	NY	Waterloo	100.0	%	417,558
29.	Woodbury Common Premium Outlets	NY	Central Valley (New York)	100.0	%	844,730
30.	Aurora Farms Premium Outlets	OH	Aurora (Cleveland)	100.0	%	300,446
31.	Cincinnati Premium Outlets	OH	Monroe (Cincinnati)	100.0	%	398,792
32.	Columbia Gorge Premium Outlets	OR	Troutdale (Portland)	100.0	%	163,884
33.	Philadelphia Premium Outlets	PA	Limerick (Philadelphia)	100.0	%	549,106
34.	The Crossings Premium Outlets	PA	Tannersville	100.0	%	411,196
35.	Allen Premium Outlets	TX	Allen (Dallas)	100.0	%	441,543
36.	Houston Premium Outlets	TX	Cypress (Houston)	100.0	%	425,482
37.	Rio Grande Valley Premium Outlets	TX	Mercedes (McAllen)	100.0	%	584,790
38.	Round Rock Premium Outlets	TX	Round Rock (Austin)	100.0	%	488,902
39.	Leesburg Corner Premium Outlets	VA	Leesburg (Washington D.C.)	100.0	%	517,711
40.	Seattle Premium Outlets	WA	Tulalip (Seattle)	100.0	%	443,796
41.	Johnson Creek Premium Outlets	WI	Johnson Creek	100.0	%	277,672

	Total U.S. Premium Outlets GLA					17,203,325

	Total Regional Mall and U.S. Premium Outlets GLA					177,124,761

FOOTNOTES:

(1): Does not include the regional malls in the Mills portfolio.
(2): This property is managed by a third party.
(3): The Operating Partnership's direct and indirect interests in some of the properties held as joint venture interests are subject to preferences on distributions in favor of other partners or the Operating Partnership.
(4): The Operating Partnership receives substantially all the economic benefit of the property due to a preference or advance.
(5): The Operating Partnership owns a mortgage note that encumbers Pheasant Lane Mall that entitles it to 100% of the economics of this property.
(6): The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.
(7): Includes office space as follows:
Arsenal Mall—52,847 sq. ft.
Century III Mall—30,032 sq. ft.
Copley Place—867,301 sq. ft.
Fashion Centre at Pentagon City, The—169,089 sq. ft.
Firewheel Town Center—74,999 sq. ft.
Great Lakes Mall—2,051 sq. ft.
Greendale Mall—119,860 sq. ft.
Gwinnett Place—32,603 sq. ft.
King of Prussia Mall—13,150 sq. ft.
Lehigh Valley Mall—11,754 sq. ft.
Menlo Park Mall—52,424 sq. ft.
Northshore Mall—12,367 sq. ft.
Knoxville Center—1,455 sq. ft.
Oak Court Mall—126,583 sq. ft.
Oxford Valley Mall—110,324 sq. ft.
Plaza Carolina—28,436 sq. ft.
River Oaks Center—116,912 sq. ft.
Rolling Oaks Mall—6,383 sq. ft.
Roosevelt Field—1,610 sq. ft.
South Hills Village—4,361 sq. ft.
Stanford Shopping Center—5,748 sq. ft.
The Domain—92,954 sq. ft.
The Westchester—820 sq. ft.
White Oaks Mall—17,807 sq. ft.

SIMON PROPERTY GROUP
Property Listing

Community/Lifestyle Centers(1)

	Property Name	State	City (CBSA)

1.	Plaza at Buckland Hills, The	CT	Manchester	41.3	%(3)	335,589
2.	Gaitway Plaza	FL	Ocala	32.2	%(3)	208,755
3.	Highland Lakes Center	FL	Orlando	100.0	%	492,321
4.	Indian River Commons	FL	Vero Beach	50.0	%	255,942
5.	Pier Park	FL	Panama City Beach	100.0	%	815,657
6.	Royal Eagle Plaza	FL	Coral Springs (Miami)	42.0	%(3)	199,059
7.	Terrace at The Florida Mall	FL	Orlando	100.0	%	346,693
8.	Waterford Lakes Town Center	FL	Orlando	100.0	%	949,678
9.	West Town Corners	FL	Altamonte Springs (Orlando)	32.2	%(3)	385,643
10.	Westland Park Plaza	FL	Orange Park (Jacksonville)	32.2	%(3)	163,254
11.	Mall of Georgia Crossing	GA	Buford (Atlanta)	100.0	%	440,670
12.	Bloomingdale Court	IL	Bloomingdale (Chicago)	100.0	%	630,359
13.	Countryside Plaza	IL	Countryside (Chicago)	100.0	%	403,756
14.	Crystal Court	IL	Crystal Lake (Chicago)	37.9	%(3)	278,978
15.	Forest Plaza	IL	Rockford	100.0	%	428,039
16.	Lake Plaza	IL	Waukegan (Chicago)	100.0	%	215,568
17.	Lake View Plaza	IL	Orland Park (Chicago)	100.0	%	367,843
18.	Lincoln Crossing	IL	O'Fallon (St. Louis)	100.0	%	243,326
19.	Matteson Plaza	IL	Matteson (Chicago)	100.0	%	270,892
20.	North Ridge Plaza	IL	Joliet (Chicago)	100.0	%	305,070
21.	White Oaks Plaza	IL	Springfield	100.0	%	391,474
22.	Willow Knolls Court	IL	Peoria	35.7	%(3)	382,377
23.	Clay Terrace	IN	Carmel (Indianapolis)	50.0	%	503,706
24.	Eastland Convenience Center	IN	Evansville	50.0	%	175,639
25.	Greenwood Plus	IN	Greenwood (Indianapolis)	100.0	%	155,319
26.	Hamilton Town Center	IN	Noblesville (Indianapolis)	50.0	%	655,490
27.	Keystone Shoppes	IN	Indianapolis	100.0	%	29,140
28.	Markland Plaza	IN	Kokomo	100.0	%	90,527
29.	Muncie Plaza	IN	Muncie	100.0	%	172,621
30.	New Castle Plaza	IN	New Castle	100.0	%	91,648
31.	Northwood Plaza	IN	Fort Wayne	100.0	%	208,076
32.	Teal Plaza	IN	Lafayette	100.0	%	101,087
33.	Tippecanoe Plaza	IN	Lafayette	100.0	%	90,522
34.	University Center	IN	Mishawaka	100.0	%	150,524
35.	Village Park Plaza	IN	Carmel (Indianapolis)	35.7	%(3)	549,623
36.	Washington Plaza	IN	Indianapolis	100.0	%	50,107
37.	West Ridge Plaza	KS	Topeka	100.0	%	254,519
38.	St. Charles Towne Plaza	MD	Waldorf (Washington, D.C.)	100.0	%	394,509
39.	Regency Plaza	MO	St. Charles (St. Louis)	100.0	%	287,473
40.	Ridgewood Court	MS	Jackson	35.7	%(3)	369,500
41.	Dare Centre	NC	Kill Devil Hills	100.0	%	168,707
42.	MacGregor Village	NC	Cary	100.0	%	144,042
43.	North Ridge Shopping Center	NC	Raleigh	100.0	%	166,667
44.	Rockaway Commons	NJ	Rockaway (New York)	100.0	%	149,335
45.	Rockaway Town Plaza	NJ	Rockaway (New York)	100.0	%	459,241
46.	Cobblestone Court	NY	Victor	35.7	%(3)	265,477

SIMON PROPERTY GROUP
Property Listing

Community/Lifestyle Centers(1)

	Property Name	State	City (CBSA)

47.	Great Lakes Plaza	OH	Mentor (Cleveland)	100.0	%	164,154
48.	Lima Center	OH	Lima	100.0	%	236,878
49.	DeKalb Plaza	PA	King of Prussia (Philadelphia)	50.3	%(4)	101,742
50.	Henderson Square	PA	King of Prussia (Philadelphia)	76.0	%(4)	107,383
51.	Lincoln Plaza	PA	King of Prussia (Philadelphia)	65.0	%(4)	267,965
52.	Whitehall Mall	PA	Whitehall	38.0	%(4)	588,566
53.	Charles Towne Square	SC	Charleston	100.0	%	71,794
54.	Empire East(2)	SD	Sioux Falls	50.0	%	297,278
55.	Arboretum at Great Hills	TX	Austin	100.0	%	206,452
56.	Gateway Shopping Center	TX	Austin	100.0	%	512,955
57.	Ingram Plaza	TX	San Antonio	100.0	%	111,518
58.	Lakeline Plaza	TX	Cedar Park (Austin)	100.0	%	387,430
59.	Palms Crossing	TX	McAllen	100.0	%	337,249
60.	Richardson Square	TX	Richardson (Dallas)	100.0	%	517,265
61.	Shops at Arbor Walk, The	TX	Austin	100.0	%	442,585
62.	Shops at North East Mall, The	TX	Hurst (Dallas)	100.0	%	365,008
63.	Wolf Ranch Town Center	TX	Georgetown (Austin)	100.0	%	626,251
64.	Chesapeake Center	VA	Chesapeake (Virginia Beach)	100.0	%	305,935
65.	Fairfax Court	VA	Fairfax (Washington, D.C.)	41.3	%(3)	254,302
66.	Martinsville Plaza	VA	Martinsville	100.0	%	102,105

	Total Community/Lifestyle Center GLA					20,199,257

FOOTNOTES:

(1): Does not include the community centers in Mills portfolio.
(2): This property is managed by a third party.
(3): Outside partner receives substantially all of the economic benefit due to a partner preference.
(4): The Operating Partnership's indirect ownership interest is through an approximately 76% ownership interest in Kravco Simon Investments.

SIMON PROPERTY GROUP
Property Listing

The Mills Portfolio

	Property Name	State	City (CBSA)

	The Mills®
1.	Arizona Mills	AZ	Tempe (Phoenix)	25.0	%	1,244,646
2.	Arundel Mills	MD	Hanover (Baltimore)	29.6	%	1,293,052
3.	Colorado Mills	CO	Lakewood (Denver)	18.8	%(1)	1,098,098
4.	Concord Mills	NC	Concord (Charlotte)	29.6	%(1)	1,333,938
5.	Discover Mills	GA	Lawrenceville (Atlanta)	25.0	%(1)	1,183,084
6.	Franklin Mills	PA	Philadelphia	50.0	%	1,742,849
7.	Grapevine Mills	TX	Grapevine (Dallas)	29.6	%	1,777,431
8.	Great Mall	CA	Milpitas (San Jose)	50.0	%	1,354,862
9.	Gurnee Mills	IL	Gurnee (Chicago)	50.0	%	1,810,747
10.	Katy Mills	TX	Katy (Houston)	31.3	%(1)	1,554,944
11.	Ontario Mills	CA	Ontario (Riverside)	25.0	%	1,479,501
12.	Opry Mills	TN	Nashville	50.0	%	1,159,517
13.	Potomac Mills	VA	Prince William (Washington, D.C.)	50.0	%	1,540,056
14.	Sawgrass Mills	FL	Sunrise (Miami)	50.0	%	2,257,261
15.	St. Louis Mills	MO	Hazelwood (St. Louis)	25.0	%(1)	1,174,876
16.	The Block at Orange	CA	Orange (Los Angeles)	25.0	%	720,870

	Subtotal The Mills GLA®					22,725,732
	Regional Malls(3)
17.	Briarwood Mall	MI	Ann Arbor	25.0	%	970,562
18.	Del Amo Fashion Center	CA	Torrance (Los Angeles)	25.0	%(1)	2,381,172	(2)
19.	Dover Mall	DE	Dover	34.1	%	885,966
20.	Esplanade, The	LA	Kenner (New Orleans)	50.0	%	899,436
21.	Falls, The	FL	Miami	25.0	%	807,275
22.	Galleria at White Plains, The	NY	White Plains (New York)	50.0	%	863,293
23.	Hilltop Mall	CA	Richmond (San Francisco)	25.0	%	1,077,067
24.	Lakeforest Mall	MD	Gaithersburg (Washington, D.C.)	25.0	%	1,046,321
25.	Mall at Tuttle Crossing, The	OH	Dublin (Columbus)	25.0	%	1,107,688
26.	Marley Station	MD	Glen Burnie (Baltimore)	25.0	%	1,069,133
27.	Meadowood Mall	NV	Reno	25.0	%	876,502	(2)
28.	Northpark Mall	MS	Ridgeland	50.0	%	955,846
29.	Shops at Riverside, The	NJ	Hackensack (New York)	50.0	%	762,197
30.	Southdale Center	MN	Edina (Minneapolis)	50.0	%	1,338,880	(2)
31.	Southridge Mall	WI	Greendale (Milwaukee)	50.0	%	1,212,117
32.	Stoneridge Shopping Center	CA	Pleasanton (San Francisco)	25.0	%	1,301,148

	Subtotal Regional Malls GLA					17,554,603
	Community Centers
33.	Denver West Village	CO	Lakewood (Denver)	18.8	%	310,160
34.	Arundel Mills Marketplace	MD	Hanover (Baltimore)	29.6	%	101,613
35.	Concord Mills Marketplace	NC	Concord (Charlotte)	50.0	%	230,683
36.	Liberty Plaza	PA	Philadelphia	50.0	%	371,618

	Subtotal Community Centers GLA					1,014,074

	Total Mills Properties GLA					41,294,409

(1): The Operating Partnership's direct and indirect interests in some of the properties held as joint venture interests are subject to preferences on distributions in favor of other partners or the Operating Partnership.
(2): Includes office space as follows:
Del Amo Fashion Center—114,413 sq. ft.
Meadowood Mall—6,013 sq. ft.
Southdale Center—20,295 sq. ft.
(3): Does not include two regional malls in Atlanta (Gwinnett Place and Town Center at Cobb) in which we already held a 50% interest prior to the Mills acquisition.

SIMON PROPERTY GROUP
Property Listing

International Properties

	Property Name	City (Metropolitan area)

	FRANCE
1.	Bay 2	Torcy (Paris)	50.0	%	576,800
2.	Bay 1	Torcy (Paris)	50.0	%	348,900
3.	Bel'Est	Bagnolet (Paris)	17.5	%	173,100
4.	Villabé A6	Villabé (Paris)	7.5	%	284,300
5.	Wasquehal	Wasquehal (Lille)	50.0	%	254,700

	Subtotal France GLA				1,637,800
	ITALY
	Ancona:
6.	Ancona	Ancona	49.0	%(3)	165,200
7.	Senigallia	Senigallia (Ancona)	49.0	%	82,800
	Ascoli Piceno:
8.	Grottammare	Grottammare (Ascoli Piceno)	49.0	%	94,800
9.	Porto Sant'Elpidio	Porto Sant'Elpidio (Ascoli Piceno)	49.0	%	162,300
	Bari:
10.	Casamassima	Casamassima (Bari)	49.0	%	547,800
11.	Modugno	Modugno (Bari)	49.0	%	143,500
	Bergamo:
12.	Bergamo	Bergamo	49.0	%(3)	119,900
	Brescia:
13.	Concesio	Concesio (Brescia)	49.0	%(3)	117,500
14.	Mazzano	Mazzano (Brescia)	49.0	%(2)	230,700
	Brindisi:
15.	Mesagne	Mesagne (Brindisi)	49.0	%	228,600
	Cagliari:
16.	Marconi	Marconi (Cagliari)	49.0	%(3)	193,400
17.	Santa Gilla	Santa Gilla (Cagliari)	49.0	%(2)	190,700
	Catania:
18.	Catania	Catania	24.0	%	641,700
19.	La Rena	La Rena (Catania)	49.0	%	146,200
20.	Misterbianco	Misterbianco (Catania)	49.0	%(3)	99,300
	Lecco:
21.	Merate	Merate (Lecco)	49.0	%(3)	162,000
	Milan (Milano):
22.	Cesano Boscone	Cescano Boscone (Milano)	49.0	%(3)	283,900
23.	Cinisello	Cinisello (Milano)	49.0	%	375,600
24.	Nerviano	Nerviano (Milano)	49.0	%(3)	111,600
25.	Rescaldina	Rescaldina (Milano)	49.0	%	377,100
26.	Vimodrone	Vimodrone (Milano)	49.0	%	190,600
	Monza:
27.	Monza	Monza	49.0	%(3)	211,700
	Naples (Napoli):
28.	Argine	Argine (Napoli)	24.0	%	296,200
29.	Giugliano	Giugliano (Napoli)	49.0	%(5)	754,500
30.	Mugnano di Napoli	Mugnano (Napoli)	49.0	%(3)	192,900
31.	Pompei	Pompei (Napoli)	49.0	%	91,400
32.	Vulcano Buono	Nola (Napoli)	22.1	%	876,000

SIMON PROPERTY GROUP
Property Listing

International Properties

	Property Name	City (Metropolitan area)

	Olbia:
33.	Olbia	Olbia	49.0	%(3)	207,600
	Padova:
34.	Padova	Padova	49.0	%	105,800
	Palermo:
35.	Palermo	Palermo	49.0	%	82,900
	Pesaro:
36.	Fano	Fano (Pesaro)	49.0	%	112,300
	Pescara:
37.	Cepagatti	Cepagatti (Pescara)	49.0	%	269,800
38.	Pescara	Pescara	49.0	%	161,500
	Piacenza:
39.	San Rocco al Porto	San Rocco al Porto (Piacenza)	49.0	%	179,200
	Rome (Roma):
40.	Casalbertone	Roma	49.0	%(3)	147,600
41.	Collatina	Collatina (Roma)	49.0	%	63,600
42.	Porta Di Roma	Roma	19.6	%	1,255,400
	Sassari:
43.	Predda Niedda	Predda Niedda (Sassari)	49.0	%(2)	233,700

SIMON PROPERTY GROUP INC /DE/ - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - April 30, 2010

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