PIER PARK INFORMATION

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Pier Park - News and Notes
February 15, 2008

Out on the Boardwalk: Several new stores have opened today at Pier Park, Simon Property Group's new 900,000-square-foot retail and entertainment lifestyle center located in Panama City Beach, Florida. Nearly 20 stores officially opened to the public on Valentine's Day 2008, and experienced strong sales with heavy foot-traffic. Even more retailers are expected to open this weekend.

Nothing Small About It: Georgeann Smith and Brandy Lister, co-owners of tatoe tots, a children's clothing specialty shop named after Lister's godchild…said sales exceeded their expectations. "We were thrilled with the number of people who shopped in our store and shared positive feedback," said Lister. "We doubled our sales goal!"

No Tall Tales: "We had more than a 1,000 shoppers come through the doors, with more than 500 visitors within the first two hours," said Cindy Stephens, owner of Fish Tales. Fish Tales specializes in beach-themed décor and jewelry. Fish Tales kicked off their opening by serving complimentary mimosas. Stephens said that they went through 40 bottles of Champagne.

Burgers of Love…Five Guys Famous Hamburgers & Fries franchise owner Blake Geoghan and his staff had been slammed at lunch on their opening day Thursday. They ran out of seating and patrons were waiting for 30-45 minutes for a table. In fact during one 90-minute period, a lunchtime record for the chain was set. But certainly on Valentine's night, this outstanding fast casual eatery would slow up, right? Wrong. "The shocking thing," Geoghan reports, "is that we had people standing out the door at dinner, too." Geoghan and his staff had a great day. "It exceeded our wildest expectations," he said. "It was fabulous." Mayor Oberst of Panama City Beach was among the first-day diners at Five Guys.

OOM PA!!...One hundred people were waiting outside the doors of Hofbrau Beer Garden in advance of Thursday's 5 p.m. opening. Inside, staff was working feverishly to greet them. Managing partner Hans Weissgerber said it came down to the last five minutes. "There are a lot of challenges involved in getting opened," he said. But it certainly was worth it. By the end of the evening 400 people had been served and the party had raged on with group singing and dancing on the tables.

"It's nice to open the doors and be full at day one," Weissgerber said. "It's also nice to know that all of the efforts you've made to get open were appreciated by the Panama City Beach community, which seems to truly embrace and appreciate our brand of good Bavarian fun."

Opening at Pier Park today, February 15, 2008:

Bebo'z Gifts & Collectibles
Mermaid Trading Co.

More Stores Premiering in February and March at Pier Park:

Anchors:

Dillard's
JCPenney
Old Navy

Specialty Shops:

Beach Scene
Bootleg Barbeque
Candymaker
Del Sol
Gamestop
Guglielmo's Italian Restaurant
Jake at the Beach
Jimmy Buffett's Margaritaville
Massage Envy
Merle Norman Cosmetics
Payless Shoes
Ron Jon Surf Shop
Smoothie King
Southern Waters Outfitters
The Back Porch
Trader Tom's
ULTA Beauty

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 379 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 4,500 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG and has a current total market capitalization of approximately $50 billion. For further information, visit the Company’s website at www.simon.com.

Pier Park
Corner of Front Beach Road and Pier Park Drive
850-236-9974
Click here for additional information on Pier Park.

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