October 21, 2003

AMERICAN EAGLE OUTFITTERS SOARS INTO ALA MOANA CENTER

HONOLULU - American Eagle Outfitters -- retailer of fashion-right clothing for 20-somethings -- is landing in Ala Moana Center in mid-November. Set to open on the Center’s third level, this is the fourth American Eagle Outfitters location to open in Hawaii, joining stores in Queen Kaahumanu Center on Maui (opened August 5, 2003), Pearlridge Center (opened July 31, 2003), and Prince Kuhio Plaza in Hilo (opened July 31, 2003).

"American Eagle Outfitters brings a great product to Ala Moana," said Sharon James, regional vice president of marketing for General Growth Properties Hawaii. "They bring a style that will satisfy the fashion taste of a lot of our shoppers."

American Eagle Outfitters (NASDAQ: AEOS) is a leading lifestyle retailer that designs, markets and sells its own brand of casual, fashion-right clothing. Providing high-quality merchandise at affordable prices, the American Eagle Outfitters collection includes modern basics like jeans, surplus and graphic Ts as well as a stylish assortment of cool accessories, outerwear, footwear and swimwear. American Eagle’s Canadian subsidiary, Bluenotes/Thriftys, targets a slightly younger demographic, offering a more urban/suburban, denim-driven collection for 12-to-22 year-olds. The company currently operates 722 American Eagle stores in 49 states and the District of Columbia, 61 American Eagle stores in Canada, and 111 Bluenotes/Thriftys stores in Canada. The company also operates an Internet business, www.ae.com.

Ala Moana Center is owned and managed by General Growth Properties, Inc. General Growth Properties is the nation’s second-largest shopping center owner, developer and manager. General Growth currently has ownership interest in, or management responsibility for, a portfolio of 163 regional shopping malls in 39 states. The company portfolio totals approximately 140 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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