October 29, 2003

ALA MOANA CENTER CELEBRATES GLOBAL FASHION WITH WORLD FESTIVAL 2003

Luxury retail houses at Ala Moana Center unite in spectacular style

HONOLULU - Celebrating high-end fashion and cuisine from around the world, Ala Moana Center announces World Festival 2003, taking place from November 2 through November 9. Complete with fashion shows, trunk shows, celebrity appearances and product releases exclusive to Ala Moana Center, World Festival is the fashion event of the year.

World Festival 2003 is a collaborative effort of more than 25 of Ala Moana Center’s luxury retail houses, and it features exclusive merchandise releases available only in Hawaii, and only during the week-long event. Retailers such as Baccarat, Celine, Chanel, Christian Dior, Hermes and Montblanc are just some of the retailers who will be releasing limited edition specialty items. Exclusive items include: a World Festival scarf by Christian Dior; bag by Chanel; canvas tote bag by Hermes; engraved pens by Montblanc, and a coral purse by Celine. In addition to the items listed, Hermes will be unveiling a special anniversary Birken Bag, featuring diamonds in its locket - there will only be six made, and each carries a price tag of $75,300.

Visitors to Ala Moana Center will catch glimpses of the latest styles and fashions during a week of in-store events, including a celebrity appearance by world-famous Japanese supermodel Kanda Uno and special promotions by retailers such as Baccarat, Ben Bridge Jeweler/Timeworks, Bulgari, Burberry, Chanel, Christian Dior, Gucci, Fendi, Loewe, Louis Vuitton and Tiffany & Co. Special in-store events include a fashion show by Christian Dior on November 8 that unveils - direct from Paris, and for the first time in the United States - its Spring/Summer 2004 collection.

The World Festival draws to a sensational close on Sunday, November 9 with an exclusive, by invitation only gala event called, "The Red Party." In addition to savory cuisine served up by some of Hawaii’s top restaurants - including Morton’s of Chicago Steakhouse, Mariposa Restaurant, Longhi’s and Assaggio’s Ristorante Italiano - "The Red Party" features fashion galore from the top fashion houses in the world and celebrity appearances throughout the night.

"The World Festival brings together these high caliber luxury retailers in a unique fashion extravaganza," said Grant Kimura, tourism director for Ala Moana Center. "It’s a wonderful opportunity for the luxury retail houses and the Center to showcase Honolulu’s high-end fashion scene to the world."

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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