Simon Completes Court-Ordered Mall Sale

Simon Property Group Inc., Indianapolis, has announced the completion of a court-ordered sale of its 27.5% partnership interest in Mall of America to Triple Five of Minnesota Inc. and has indicated its intent to pursue its appeal of the court decision.Simon said it has not recorded a contribution to net income or funds from operations for Mall of America, located in Bloomington, Minn., since the court's decision in September 2003. It said it will recognize no additional gain or loss from the sale. The real estate investment trust said it has appealed the court order to the Eighth Circuit Court of Appeals and will "vigorously pursue" that process. The REIT said it will continue to manage the mall through its subsidiary management company under the terms of its existing contract. The company can be found online at http://www.simon.com.