EXHIBIT 99(a)2



FOR IMMEDIATE RELEASE

                    TAUBMAN CENTERS BOARD UNANIMOUSLY REJECTS
                     SIMON PROPERTY GROUP'S INADEQUATE OFFER

BLOOMFIELD HILLS, MICH., DECEMBER 11, 2002 - Taubman Centers, Inc. (NYSE:TCO)
today announced that after careful consideration, including a thorough review
with its financial and legal advisors, its Board of Directors has unanimously
voted to reject Simon Property Group's (NYSE: SPG) $18.00 per share cash offer
as inadequate, opportunistic and clearly not in the best interests of the
Taubman Centers shareholders. Accordingly, the Board of Directors strongly
recommends that all Taubman Centers shareholders reject Simon's offer and not
tender their shares.

Robert S. Taubman, Chairman, President and Chief Executive Officer of Taubman
Centers, stated, "The Taubman Centers Board has thoroughly considered Simon's
tender offer - as it had considered the original proposal before it was made
public - and again has unanimously rejected the offer. The Board believes that
the offer is inadequate, opportunistic and does not reflect the underlying value
of the Company's assets or its growth prospects. Our collection of upscale
regional mall assets cannot be replicated. They represent the most productive
portfolio of regional malls in the public sector and have always been and will
always be highly coveted. The Company has a strong track record, has delivered
more than an 80% total return to shareholders over the past five years, and has
also achieved the sector's highest FFO (Funds From Operations) per share growth
rate for the first nine months of 2002." Mr. Taubman added: "Simon's hostile
offer is not a logical catalyst for a sale. The Board's position remains clear -
the Company is not for sale."

S. Parker Gilbert, an independent director of Taubman Centers and retired
Chairman of Morgan Stanley Group, Inc., stated, "Our Board believes that this is
not the time to sell the Company. Further, the offer put on the table by Simon
does not reflect the underlying value of the Company's assets or its growth
prospects. In recommending strongly against this offer, we have considered the
interests of all of the Company's shareholders."

In making its determination, the Taubman Centers Board of Directors received the
opinion of Goldman, Sachs & Co. that the Simon offer is inadequate, and
considered a number of additional factors, including, among others:

      -- NOW IS NOT THE TIME TO SELL. A number of the Company's properties are
      at early stages in their development cycle and are expected to generate
      increasing returns over the next few years. The Board believes that the
      Company's current stock price does not reflect the value of these assets
      or their growth potential. Moreover, the Board believes that the Company's
      organic growth strategy of concentrating on improving the quality and
      consistency of its assets, along with selective development, acquisitions
      and divestitures, is likely to yield long term returns to shareholders
      superior to the Simon offer.




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      -- THE COMPANY HAS OUTPERFORMED ITS PEERS. Taubman Centers has delivered
      more than an 80% total return to shareholders over the past five years,
      during which time the Company has outperformed the Morgan Stanley REIT
      Total Return Index (which returned 21.6%), the S&P 500 Total Return Index
      (which returned 4.3%), and many of its competitors (including Simon
      Property Group, which returned 63.3%). The Taubman Centers properties have
      the highest average sales and rents per square foot of any regional mall
      company.

      -- THE OFFER CANNOT BE COMPLETED WITHOUT THE SUPPORT OF OWNERS WHO ARE NOT
      OBLIGATED TO SELL. The Taubman family and other shareholders, with
      combined ownership and voting power representing over a third of the total
      voting power of the Company's capital stock, have indicated that they have
      no interest in pursuing a sale transaction. The affirmative vote of
      two-thirds of the Company's voting power to approve a merger, sale or
      other similar transaction has been required under the Company's charter
      since the initial public offering of Taubman Centers in 1992. The Company
      believes that the litigation brought by Simon seeking to strip certain
      Taubman Centers shareholders of their voting rights is without merit.

      -- THE OFFER IS A SIGNIFICANT WASTE OF CORPORATE ASSETS. The unsolicited
      and hostile nature of the Simon offer, coupled with its inability to be
      completed, makes it expensive, disruptive, and detrimental to both
      companies.

      -- THE OFFER IS HIGHLY CONDITIONAL. Simon's offer is subject to many
      conditions, resulting in significant uncertainty that the offer could or
      would be consummated. In addition, the anti-competitive nature of the
      combination proposed by Simon - which the Company believes is designed to
      further Simon's control over key markets where Simon is already highly
      dominant - raises serious antitrust concerns, creating further
      uncertainty.

      -- SIMON MISREPRESENTS FACTS TO SERVE ITS OWN ENDS. The Simon offer is
      rife with misrepresentation and mischaracterization. Simon's self-serving
      press campaign aimed at damaging the Company is hypocritical in the
      extreme. Contrary to the Taubman Centers democratic voting structure with
      exact alignment between economic ownership and voting rights, the Simon
      family has hard-wired Board seats and an absolute veto right over major
      transactions, including a sale of the company. Simon's false denials about
      these veto rights on its website and in its securities filings are
      indicative of its willingness to mislead investors. Simon has also been
      willing to mischaracterize Taubman Centers' financial performance,
      misrepresent David Simon's communications with Robert Taubman, and mislead
      about the Taubman Centers 1998 restructuring.

Mr. Taubman stated: "The Simon lawsuit is a cynical attempt to turn a state
anti-takeover statute into a hostile takeover device. The Michigan statute was
designed to stop opportunists like Simon. They are disingenuously trying to turn
the law inside out. We are confident they will not succeed."




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"Above all, the Taubman Centers assets have huge scarcity value and are becoming
more valuable every day," Mr. Taubman said. "Our new projects-- Millenia,
Dolphin Mall, Willow Bend, International Plaza and Wellington Green-- are
increasingly contributing to the company's FFO per share and are poised for
significant future cash flow growth. The Board of Directors firmly believes that
Taubman Centers has great growth prospects. We believe that Simon is pursuing
Taubman Centers because Simon lacks the ability to create its own meaningful
growth opportunities and needs to improve its portfolio of aging and tired
shopping centers by acquiring Taubman's premier properties. We are not here to
solve Simon's problems, but rather are focused on maximizing the potential of
our assets for the benefit of Taubman Centers shareholders."

The Company also announced that it had opted out of the Michigan Control Share
Acquisition Act. The Company believes that it does not need the protection of
the Michigan Control Share Acquisition Act.

Stockholders of Taubman Centers are strongly advised to read Taubman Centers'
solicitation/ recommendation statement regarding the tender offer referred to in
this press release because it contains important information. Stockholders may
obtain a free copy of the solicitation/ recommendation statement, which has been
filed by Taubman Centers with the Securities and Exchange Commission, at the
SEC's web site at www.sec.gov and at Taubman Center's website at
www.taubman.com, under Investor Relations. Stockholders may also obtain, without
charge, a copy of the solicitation/recommendation statement by directing
requests to Taubman Centers' Investor Relations Department.

Goldman, Sachs & Co. is acting as financial advisor and the law firms of
Wachtell, Lipton, Rosen & Katz; Miro, Weiner & Kramer, PC; and Honigman Miller
Schwartz and Cohn, LLP are acting as legal advisors. Taubman Centers has also
retained Innisfree M&A Incorporated to assist it in connection with
communications with shareholders with respect to the offer.

ABOUT TAUBMAN CENTERS, INC.
Taubman Centers, a real estate investment trust, owns, develops, acquires and
operates regional shopping centers nationally. Taubman Centers currently owns
and/or manages 30 urban and suburban regional and super regional shopping
centers in 13 states. The company is headquartered in Bloomfield Hills, Mich.

This press release contains forward-looking statements within the meaning of the
Securities Act of 1933 as amended. These statements reflect management's current
views with respect to future events and financial performance. Actual results
may differ materially from those expected because of various risks and
uncertainties, including, but not limited to changes in general economic and
real estate conditions including further deterioration in consumer confidence,
changes in the interest rate environment and availability of financing, and
adverse changes in the retail industry. Other risks and uncertainties are
discussed in the Company's filings with the Securities and Exchange Commission
including its most recent Annual Report on Form 10-K.

                                      # # #

Contacts:


Barbara Baker                             Joele Frank/Todd Glass
Taubman Centers, Inc.                     Joele Frank, Wilkinson Brimmer Katcher
(248) 258-7367                            (212) 355-4449




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