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Simon Property Group, Inc. (ticker: SPG, exchange: New York Stock Exchange (.N)) News Release - 2-May-2001

More Than 165 Simon Malls Nationwide to Host 'The More You Give The More Kids Grow' Campaign to Benefit Youth Programs

INDIANAPOLIS, May 2 /PRNewswire/ -- More than 165 Simon Property Group (NYSE: SPG) malls in 36 states nationwide will host "The More You Give The More Kids Grow" campaign to benefit local youth programs as part of a national partnership between the Simon Youth Foundation, a not-for-profit organization that provides educational and career development opportunities for youth, and The Salvation Army, one of the largest charitable and service organizations in the world.

"The More you Give The More Kids Grow" is a landmark campaign for The Salvation Army as the organization's first-ever spring campaign, as well as the first campaign involving a national partnership with another not-for- profit organization.

"The Salvation Army shares the Simon Youth Foundation's commitment to helping young people reach their potential," said Lt. Colonel Tom Jones, National Community Relations and Development Secretary for The Salvation Army. "By working together, these two partners will be able to generate awareness for the many challenges facing today's youth, as well as to help raise the funds necessary to provide youth with important educational, economic and personal development opportunities."

The campaign, featuring bright yellow watering collection cans, kicks off on May 2 and will continue through May 16 with the exception of Sundays. All proceeds raised during the campaign will benefit community programs offered by The Salvation Army and the Simon Youth Foundation, including The Salvation Army's daycare, summer camps, social programs and family counseling programs, among others, as well as the Simon Youth Foundation's Education Resource Centers at Simon malls, and a nationwide Community Scholarship Program.

"Simon Property Group has had a rewarding relationship with The Salvation Army for many years," said Deborah J. Simon, Sr. Vice President of Simon Property Group and Chairperson of the Simon Youth Foundation. "In this first- ever partnership between the Simon Youth Foundation and The Salvation Army, we have the opportunity to extend that relationship and to reinforce the fact that 'need knows no season.'"

The Salvation Army has more than 9,000 centers of operation in local communities nationwide and all charitable contributions go directly to support local programs within the region they were received. In addition to supporting youth and offering opportunities to underprivileged children, The Salvation Army provides food for the hungry, companionship to the elderly and ill, clothing and shelter to the homeless, relief for disaster victims, assistance for the disabled, and many more services to assist those in need.

The Salvation Army is an evangelical part of the universal Christian church. One of the largest charitable and service organizations in the world, The Salvation Army has been in existence since 1865, supporting those in need without discrimination. Those wishing to make donations to other Salvation Army programs can call their local Salvation Army, call 1-800-SAL-ARMY for assistance in finding the nearest Salvation Army center of operation, or visit www.salvationarmyusa.org .

The Simon Youth Foundation, a 501(c)(3) not-for-profit organization, fosters economic and career development in youth through the implementation of focused and appropriate educational initiatives and programs including Education Resource Centers, Community Education Programs and Scholarship Programs. The Foundation was established in August 1998 by Simon Property Group, the nation's largest mall owner and operator, and the Simon family. For more information regarding Simon Youth Foundation visit the company's corporate website at www.shopsimon.com .

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SOURCE Simon Property Group

CONTACT: Billie J. Scott of Simon Property Group, 317-263-7148; or Eve Pidgeon of Burson-Marsteller for The Salvation Army, 313-583-8481/