May 24, 2004

NORDSTROM COMING TO ALA MOANA CENTER

HONOLULU, HI – Ala Moana Center, one of the world’s most successful retail venues, announced today it will open Hawaii’s first Nordstrom full-line store. Nordstrom first started serving customers in Hawaii over three decades ago through leased shoe departments at a local retailer. Later, the company opened Nordstrom Shoes and the Nordstrom Rack.  It will join a stellar line-up of international brands and some of Hawaii’s top local retailers and most popular restaurants.

 “Nordstrom has set the standard for retail excellence, something our shoppers have come to expect from Ala Moana Center,” said Dwight Yoshimura, senior vice president of management of General Growth Properties.  “Our customers have told us for quite some time they would like to see a Nordstrom in Ala Moana Center.  We’re excited we can now provide it for them.  The Nordstrom addition is keeping with our vision of people creating special places and experiences for our shoppers.”

The Nordstrom store will highlight a multi-million dollar expansion at Ala Moana Center, expected to begin in 2005.   Fashion leaders such as Chanel, Macy’s, Louis Vuitton, Gucci, Cartier, Tiffany, Hermes, Fendi and Neiman Marcus are just a small list of the nearly 250 stores that make Ala Moana Center one of the world’s most visited and profitable shopping centers. 

“We’re looking forward to finally getting the opportunity to serve long-time customers in Hawaii with a full-line store at Ala Moana Center,” said Blake Nordstrom, president of Nordstrom, Inc.  “We’re thrilled with the opportunity to join such a quality group of retailers at one of the world’s best shopping and entertainment destinations.”

ABOUT NORDSTROM
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 149 US stores located in 27 states.  Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 93 full-line stores, 49 Nordstrom Racks, five Façonnable boutiques, one free-standing shoe store, and one clearance store.  Nordstrom also operates 31 international Façonnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs.  Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.

ABOUT GENERAL GROWTH PROPERTIES
Ala Moana Center is owned and managed by General Growth Properties, the country's second largest shopping center owner, developer and manager.  General Growth currently has ownership interest in, or management responsibility for, a portfolio of 177 regional shopping malls in 41 states. The company portfolio totals approximately 153-million square feet of retail space and includes over 16,000 retailers nationwide.  A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP. For more information on General Growth Properties and its portfolio of malls, please visit the company Web site at www.generalgrowth.com.

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