| Simon Property Group, Inc., a real estate investment trust (REIT), engages in the ownership, development, and management of retail real estate properties. Its real estate properties consist primarily of regional malls, Premium Outlet centers, The Mills, and community/lifestyle centers. As of December 31, 2007, the company owned or held an interest in 320 income-producing properties in the United States, which consisted of 168 regional malls, 38 Premium Outlet centers, 67 community/lifestyle centers, 37 properties acquired in the Mills acquisition, and 10 other shopping centers or outlet centers in 41 states and Puerto Rico. The company also owns interests in 4 parcels of land held for future development in the United States; 51 European shopping centers located in France, Italy, and Poland; 6 Premium Outlet centers in Japan; 1 Premium Outlet center in Mexico; and 1 Premium Outlet center in South Korea. Simon Property Group, through a joint venture arrangement, owns a 32.5% interest in five shopping centers, which are under development in China. As a REIT, the company would not be subject to federal tax to the extent that it distributes at least 90% of its taxable income to its shareholders. Simon Property Group was founded in 1960 and is headquartered in Indianapolis, Indiana. |