May 2004

Joint Recycling Program Expected to Reduce Retail Waste

Indianapolis, IN— Simon Property Group, Inc announced that its business to business division, Simon Business Network®, has entered into a new strategic partnership with Waste Management, Inc. The partnership includes waste removal and management for more than 190 Simon malls and community centers nationwide. In addition to waste removal, Simon and Waste Management will work together to develop a comprehensive environmental services program.

“An enhanced recycling program is being developed as a result of our new strategic partnership with Waste Management,” stated Scott Mumphrey, President, Simon Management Group. “Not only do we see value in this new program for Simon, but also for tenants in our properties.”

The joint environmental program will benefit Simon’s retail partners who have expressed an interest in and a commitment to environmentally friendly business practices. An expanded corrugated recycling program will be the first product offering through the new Simon Business Network and Waste Management strategic partnership.

Brian Fielkow, Executive Vice President of Waste Management’s Recycle America Alliance said, “Through a collaborative effort, Waste Management and Simon Property Group have identified innovative ways to increase the amount of recyclables generated at each location. In addition, Waste Management is initiating an extensive training program at key Simon Property Group locations so that cleaning staffs are trained in practical, cost-effective material handling techniques designed to enhance the recovery of recyclables.”