For more information: Molly Parrish/ Kristin Cowart, KCPR, 404.233.3993 [email protected] / [email protected] Cell Phones: 404.713.3788/404.695.0310 Les Morris, Simon Property Group, 317.263.7711 [email protected] Cell Phone: 317.201.0978 Pier Park Welcomes More Dining and Shopping Choices! - Popular New Eateries and Stores Set to Open This Week - PANAMA CITY BEACH, Fla. (March 3, 2008)- Pier Park options continue to grow as many anticipated restaurants and shops plan to open this week in the 900,000-square-foot retail and entertainment lifestyle center. New tenants scheduled to open include Dillard’s, JCPenney, Jimmy Buffett’s Margaritaville, Southern Waters Outfitters, Smoothie King, Trader Tom’s and ULTA Beauty. Jimmy Buffett’s Margaritaville, Dillard’s, JCPenney and ULTA Beauty will celebrate with the following events: Dillard’s, March 5-9: Grand Opening Weekend Location: Between Front Beach Road and US 98 **This is a sample of the special events during the celebration** • The "Lucky Key Event" offers the first 500 customers each day a key that could unlock one of many prize giveaways valued at more than $20,000, including a $1,000 Dillard's shopping spree. • Tote Bag Giveaway- Receive a limited edition Dillard’s tote bag with any regular price $100 purchase. Pick up your tote bag at the Prize Validation Table. One per person, please, while supplies last. • Clarins Beauty Break- Treat yourself to a Clarins Beauty Break, 15 minutes of hands-on services. Plus, receive two Discovery size products with any Clarins purchase of $75 or more. Spend $150 or more, and you will also receive a Clarins Color Palette. Jimmy Buffett’s Margaritaville, March 5: Grand Opening Location: Intersection of Front Beach Road and Pier Park Drive • 10:30 a.m.- Ribbon-cutting ceremony. • 11 a.m.- Doors open to the public. JCPenney, March 7: Grand Opening Location: Near Town Center and Boardwalk on Stingray Drive • 8:45 a.m.- Ribbon-cutting ceremony at the store’s main entrance. • Customers can register to win great prizes, including a $1,000 JCPenney gift card, as well as one of 500 $100 gift cards to be used toward any JCPenney purchase. ULTA Beauty, March 7—Grand Opening Location: Near Target on Starfish Street • Doors open at 9 a.m. • ULTA store is offering free makeovers, hair consultations and Murad skincare consultations. • ULTA is giving away gift certificates to the first 100 customers. -More- -Page 2 of 2- Simon Property Group, Inc. (NYSE:SPG), the country’s largest owner, developer and manager of high quality retail real estate, will celebrate even more store openings throughout March at Pier Park, including Guglielmo’s Italian Restaurant, Massage Envy, Payless Shoes and Verizon. The following Pier Park stores will be open as of March 8, 2008: (*Bold face indicates tenants are scheduled to premiere this week*) Alltel Wireless Marble Slab Creamery Back Porch Seafood House Margaritaville Beach Scene Merle Norman Cosmetics Studio Bebo’z Mermaid Trading Co. Bootleg Barbeque No Regrets Stationary and Gifts Buffalo Wild Wings Panera Bread Camille’s Sidewalk Café Quizno's Sub Candy Maker Red Brick Pizza Del Sol Ron Jon Surf Shop Dillard’s Smoothie King Emerald Coast Photography Southern Waters Outfitters Fish Tales Starbucks Five Guys Famous Hamburgers & Fries Sunglass World GNC Target Hofbrau Beer Garden tatoe tots Jake at the Beach The Grand 16 Theatres JCPenney Trader Tom’s Kilwin's Chocolates & Ice Cream ULTA Beauty LongHorn Steakhouse Unique Boutique by Irene & Co. Developed by Simon Property Group and comprising nearly 900,000 square feet, the open-air regional lifestyle center is anchored by Target, Dillard's, JCPenney, The Grand 16 Theatres, BORDERS and Old Navy. Pier Park is also comprised of fashion and specialty retailers, including exciting new-to-market choices such as Caché, Hollister Co., JoS. A. Bank, Lane Bryant, Ron Jon Surf Shop and ULTA Beauty. In addition, the center embraces many unique dining options such as Jimmy Buffett's Margaritaville, Hofbrau Beer Garden, Back Porch Seafood House, Bootleg Barbeque, Longhorn Steakhouse, Panera Bread, Reggae J’s Island Grill and many more. Shoppers can also enjoy movies at The Grand 16 Theatres, which features stadium seating, digital sound, advance ticketing over the Internet, three concession areas, a specialty café and game room. For more information about Pier Park, please visit www.simon.com. Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers®, The Mills®, community/lifestyle centers and international properties. It currently owns or has an interest in 380 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at www.simon.com. ### .