CHICAGO, Aug. 7 /PRNewswire-FirstCall/ -- General Growth Properties, Inc.
(NYSE: GGP), today announced the appointment of three new directors to its
current Board of Directors. "It is with great pleasure that I make this
announcement today," stated Matthew Bucksbaum, Chairman of GGP. "We have
worked long and hard on identifying the best candidates available and I am
confident that these new board members will continue to build upon the past
successes of General Growth," he added.
Shareholders recently elected John T. Riordan to the GGP Board at the
Company's annual meeting held May 7, 2003. Mr. Riordan was most recently Vice
Chairman of the International Council of Shopping Centers (ICSC) and was also
Chairman of the Center for Real Estate of the Massachusetts Institute of
Technology (MIT). He first joined ICSC in 1982 and served as President and
CEO from 1986-2001. Mr. Riordan retired from ICSC and MIT in July 2003.
Newly appointed by the GGP Board of Directors on August 5, 2003 is Frank
S. Ptak, Vice Chairman of publicly held Illinois Tool Works, Inc. (ITW). Mr.
Ptak joined ITW in 1975 and held a variety of positions prior to his election
as Vice Chairman in 1996. Prior to joining ITW Mr. Ptak served as a senior
auditor for Arthur Young & Co.
Additionally on August 5, 2003, the GGP Board of Directors also appointed
Bernard Freibaum, Executive Vice President and Chief Financial Officer of GGP.
Since joining GGP in 1993, Mr. Freibaum has been a member of the executive
management team. Prior to joining GGP Mr. Freibaum, an attorney and a CPA,
accumulated 20 years of diverse experience in real estate and professional
services.
General Growth Properties is the country's second largest shopping center
owner, developer and manager of regional shopping malls. General Growth
currently has ownership interest in, or management responsibility for, a
portfolio of 162 regional shopping malls in 39 states. The company portfolio
totals approximately 142 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
http://www.generalgrowth.com .
SOURCE General Growth Properties, Inc.
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http://www.generalgrowth.com
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CONTACT:
John Bucksbaum of General Growth Properties,
+1-312-960-5005
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