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General Growth Properties announces executive transition plan

General Growth Properties, Inc. announced Chief Executive Officer Adam Metz and President and Chief Operating Officer Thomas Nolan have agreed to remain in their roles at GGP for up to one year following completion of the company's restructuring, expected in October 2010. During that period, Messrs. Metz and Nolan will continue to manage the final phases of the company's restructuring – including the planned equity raise – and will continue to lead GGP's financial and operational strategy. GGP's new Board of Directors, to assume its role following emergence from bankruptcy, is expected to select a long-term management team during the transition period.



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