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News and Information Article
INDIANAPOLIS, May 12 /-FirstCall/ -- Simon Property Group,
Inc. (NYSE: SPG) today announced that its Board of Directors has authorized
a common stock repurchase program under which the Company may purchase up
to $250 million of its common stock over the next twelve months as market
conditions warrant. The shares may be repurchased in the open market or in
privately negotiated transactions. This program replaces the common stock
repurchase program which the Board authorized in May, 2005.
Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is
a real estate investment trust engaged in the ownership, development and
management of retail real estate, primarily regional malls, Premium
Outlet(R) centers and community/lifestyle centers. The Companys current
total market capitalization is approximately $42 billion. Through its
subsidiary partnership, it currently owns or has an interest in 285
properties in the United States containing an aggregate of 200 million
square feet of gross leasable area in 39 states plus Puerto Rico. Simon
also owns interests in 51 European shopping centers in France, Italy, and
Poland; 5 Premium Outlet centers in Japan; and one Premium Outlet center in
Mexico. Additional Simon Property Group information is available at
http://www.simon.com .
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