General Growth Announces Tax Reporting Information for 2000 Common And Preferred Share Distributions

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General Growth Announces Tax Reporting Information for 2000 Common And Preferred Share Distributions

		GENERAL GROWTH PROPERTIES LOGO General Growth Properties logo. (PR NewsFoto)[AS] CHICAGO, IL USA

    CHICAGO, Jan. 11 /PRNewswire/ -- General Growth Properties, Inc.
(NYSE: GGP) announced the tax reporting information (Federal Form 1099) for
the year 2000 distributions on its common shares and its Preferred Income
Equity Redeemable Stock, Series A ("PIERS") Depository Shares.
    (Photo:  http://www.newscom.com/cgi-bin/prnh/19990208/CGM015 )
    The 2000 distributions paid with respect to General Growth Properties,
Inc. Common Stock (NYSE CUSIP no. 370021107) are as follows:


    Declaration   Record        Payment       Total      Taxable As
Return of
       Dates      Dates          Dates    Distributions   Ordinary    Capital
                                            Per Share     Dividend    Portion

    12/14/99     01/06/00      01/31/00       $0.51         $.47        $0.04
    03/22/00     04/06/00      04/28/00       $0.51         $.47        $0.04
    06/14/00     07/06/00      07/31/00       $0.51         $.47        $0.04
    09/19/00     10/05/00      10/31/00       $0.51         $.47        $0.04

    TOTALS                                    $2.04        $1.88        $0.16
    PERCENTAGES                                100%        92.16%       7.84%

    Amounts reported to GGP Dividend Reinvestment and Stock Purchase Plan
participants will differ due to administrative costs.  Participants should
refer to their Form 1099 which will be mailed in late January and contact
ChaseMellon Shareholder Services at 888-395-8037 for further information.
Taxability of the 2000 common stock distributions is not indicative of the
taxability of future distributions.
    The 2000 distributions paid with respect to General Growth Properties,
Inc. Preferred Income Equity Redeemable Stock, Series A ("PIERS") Depository
Shares. (NYSE CUSIP no. 370021206) are as follows:

    Declaration         Record        Payment          Total       Taxable As
       Dates             Dates         Dates       Distributions     Ordinary
                                                     Per Share       Dividend

    12/14/99           01/06/00       01/14/00        $0.4531         $0.4531
    03/22/00           04/06/00       04/14/00        $0.4531         $0.4531
    06/14/00           07/06/00       07/14/00        $0.4531         $0.4531
    09/19/00           10/05/00       10/13/00        $0.4531         $0.4531

    TOTALS                                            $1.8124         $1.8124

    Taxability of the 2000 preferred distributions is not indicative of the
taxability of future distributions.

    For additional information, please call Rick Dennert at 312-960-5205.

    General Growth Properties is one of the oldest and most experienced
shopping center owners, developers and managers in the United States. It
currently has ownership interests in, or management responsibilities for, 137
shopping malls in 37 states, encompassing more than 116 million square feet.
For more information, visit the company websites at http://www.generalgrowth.com or
http://www.mallibu.com .

SOURCE General Growth Properties, Inc.

http://www.generalgrowth.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/19990208/CGM015
PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
Company News On-Call:

http://www.prnewswire.com/comp/110740.html or fax,
800-758-5804, ext. 110740
CONTACT:
Rick Dennert of General Growth Properties,
312-960-5205