CONTACT:

Iva Pawling Matt Derby

Bennet Group PR Ala Moana Center

Phone: 808.531.6087, ext. 3 Phone: 808.946.2811 ext. 112

Cell: 808.286.3183 Cell: 808.384.7059

iva@bennetgroup.com matthew.derby@generalgrowth.com

FOR IMMEDIATE RELEASE

Wednesday, December 13, 2006

Ala Moana Center Introduces 17 New Shops and Restaurants Perfect for the Holidays

HONOLULU – Ala Moana Center announces the opening of 17 new shops and restaurants that perfectly meet the needs of shoppers this holiday season. These new merchants range from original concept stores to established, brand-name labels – some opening their doors in Hawaii for the very first time. With all these new additions, gift giving is even easier this holiday season at Ala Moana Center, where shoppers will find an array of merchandise to suit everyone on their list.

Shoppers will want to make a point to visit the newly completed retail corridor on the Mall Level, mauka side, near Macy's, where three merchants have recently joined Mani Pedi Spa and Quiznos Subs to present a variety of retail options, including:

Bonheur – Bonheur is a new concept woman's fashion apparel and accessories boutique that appeals to those who like cutting-edge fashion while leading an active lifestyle. The boutique offers an array of international designer fashion that is sold in Hawaii exclusively at Bonheur, such as Alice McCall (Australia), Maria Bonita Extra (Brazil), and JeeVice Sunglasses (France). Located on the Mall Level, mauka side, next to Patisserie La Palme D'Or.

Patisserie La Palme D'Or – This fashionably, chic cafe offers fresh specialty cakes and desserts for the discerning sweet-tooth. Located on the Mall Level, mauka side, next to Shirokiya.

W Salon – A sophisticated, new full-service salon offering top-standard hair styling services, as well as nourishing hair therapy, permanent makeup, eyelash extensions, waxing, and nail enhancements. Also, W Salon is the only place in Ala Moana Center where the premiere French line of Kerastase hair products can be found. Located on the Mall Level, mauka, next to Mani Pedi Spa.

Many more exciting new stores, restaurants and entertainment venues have opened throughout the center adding an exciting mix to Ala Moana Center's already diverse retail environment. New merchants include:

ABC Store – In its second Ala Moana Center location, ABC offers a large selection of island treasures, flavors, fragrances and souvenirs at a convenient, one-stop shop for tourists and locals alike. Located on the Street Level, next to Crabtree & Evelyn.

Aldo Shoes – Aldo carries premium fashion footwear, leather goods and accessories for men and women. With a focus on extensive detailing and craftsmanship, Aldo offers its customers quality, of-the-moment trends at affordable prices. Located on the Third Level, next to Arden B.

The Coffee Bean & Tea Leaf – The Coffee Bean & Tea Leaf, one of the fastest growing coffee franchises in Hawaii, features an assorted menu of specialty coffees and teas as well as four varieties of daily brew including their savory pre-ground coffee. Located in the Makai Market Food Court.

Damiani – Numerous celebrities, including Brad Pitt, Jennifer Aniston and Gwyneth Paltrow own pieces by Italian jeweler Damiani, and now Ala Moana Center shoppers can choose from an assortment of exclusive diamond jewelry, fine imported Italian gold, engagement rings and loose diamonds. Located on the Mall Level, next to Sephora.

Hibachi-san - Hibachi-San uses only the freshest ingredients to prepare its delicious on-site Japanese entrées. Master Chef Ming-Tsai Cherng's menu includes eight different types of Tepanyaki plates with a variety of sautéed vegetables and meats, a myriad of sushi and rolls, four different types of Oishii salads and more. Located in the Makai Market Food Court.

Jimmy Choo – One of the leading luxury brands in the world, the Jimmy Choo label is known for its collection of high-end accessories. Jimmy Choo shoes and bags are frequently worn by Hollywood's A-list celebrities on red carpets everywhere. The Ala Moana Center boutique is the first Jimmy Choo location in the state of Hawaii. Located on the Mall Level, next to Bottega Veneta.

Juicy Couture – Known for its terry cloth, velour, cashmere and fleece tracksuits, the Juicy Couture collection also includes designer jeans, t-shirts, handbags, beachwear, watches, shoes, fragrances and more! Ala Moana Center's store is the first Juicy Couture boutique in the state of Hawaii. Located on the Mall Level, next to Papyrus.

Koi Koi – Koi Koi offers hungry shoppers a fresh spin on okonomiyaki – the Japanese-style pancake made with batter and bits of meat, seafood, egg and chopped vegetables. Located in the Makai Market Food Court.

Miss Sixty / Energie – The Miss Sixty and Energie trademarks have become synonymous with life, youth, action and energy; catering to the lifestyle of the fashion-forward individual. The labels are widely acclaimed for their extensive selection of jeans, which appeals to shoppers of all shapes and sizes. The line of shoes melds the most compelling elements of fashion from the '50s and '80s with futuristic materials and ultramodern details. This Miss Sixty / Energie store is the first in the state of Hawaii. Located on the Mall Level, next to Puma.

Pearl – Stop in for some of the island's best after-hours pupus, specialty drinks, live entertainment and dancing at Oahu's newest and hottest ultralounge situated near the Ho`okipa Terrace. Pearl's outstanding cocktail menu was especially created by Francesco Lafranconia, a noted Las Vegas-based master of libations. And the club's top Italian-influenced cuisine is presented by none other than chef Donato Loperfido. Open Sunday, Tuesday through Thursday from 5 p.m. to 2 a.m. and Friday through Saturday from 5 p.m. to 4 a.m. Valet parking available. Located on the Third Level, mauka, below Romano's Macaroni Grill.

Philip Rickard Honolulu – Philip Rickard Honolulu has quickly emerged as one of the premiere manufacturers of world-class Hawaiian jewelry. This elegant line of jewelry is constructed from a variety of gold and platinum, and features deep, scrolling patterns with vivid enameled names and inlays. Some of the pieces include diamonds and colored gemstones. Located on the Street Level, next to Hawaiian Times Watches.

Silver Rhino – Silver Rhino specializes in costume jewelry and accessories for men and women. Visit their store for an unmatched selection of sterling silver and stainless steel rings, earrings and necklaces. Located on the Street Level, next to Lupicia.

Theory – A New York-based label known for using stretch fabrics that offer amazing fit, comfort and beautiful silhouettes, Theory pieces are classic as well as stylish. This is the first Theory store in the state of Hawaii. Located on the Mall Level, next to Juicy Couture.

Trade Secret – Trade Secret combines a full-service salon offering innovative beauty treatments and products at affordable prices with a selection of more than 3,000 new beauty products in an all-in-one retail store and salon setting. Located on the Street Level, mauka, next to Lady Foot Locker.

For more information on new stores and restaurants at Ala Moana Center, please visit www.AlaMoanaCenter.com/whatsnew.htm .

ABOUT ALA MOANA CENTER

Ala Moana Center is the world's largest outdoor shopping center and Hawaii's premier shopping, entertainment, and dining destination with 260 stores, including nearly 70 dining options. Ala Moana Center features a diverse collection of stores including locally owned boutiques and national retailers. Visit www.AlaMoanaCenter.com for more information.

Ala Moana Center is owned and managed by General Growth Properties, Inc., the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has ownership interest and management responsibility for a portfolio of 209 regional shopping malls in 44 states, as well as ownership in planned community developments and commercial office buildings. The company portfolio totals approximately 200 million square feet of retail space and includes more than 18,000 retailers nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the company Web site at www.generalgrowth.com .

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Alyson Helwagen

Vice President

Bennet Group PR

Office: 808.531.6087, ext. 2

Cell: 808.228.2997

Fax: 808.356.0652