Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: July 31, 2009
Federal Tax I.D. # 42-1283895
CORPORATE MONTHLY OPERATING REPORT
FOR FILING ENTITIES ONLY

I declare under penalties of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

	GENERAL GROWTH PROPERTIES, INC.
Date: August 31, 2009	by:	/s/ Edmund Hoyt
		Edmund Hoyt
		Chief Financial Officer

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

	PAGE
	NUMBER
Debtors Monthly Operating Report as of and for the Month Ended July 31, 2009
Index
Combined Condensed Statements of Income and Comprehensive Income for the Month Ended July 31, 2009 and Cumulative Post-Petition Period Ended July 31, 2009		3
Combined Condensed Balance Sheet		4
Notes to Unaudited Combined Condensed Financial Statements		5
Note 1: Chapter 11 Cases and Proceedings		5
Note 2: Basis of Presentation		5
Note 3: Summary of Significant Accounting Policies		6
Note 4: Cash and Cash Equivalents and Amounts Applicable to Debtor First-Lien Holders		7
Note 5: Certain Other Assets and Liabilities and Liabilities Subject to Compromise		8
Note 6: Rejected Contracts and Related Matters		9
Note 7: General and Administrative Expenses and Reorganization Items		10
Schedules:
Schedule I Schedule of Combining Condensed Statement of Income and Comprehensive Income for the Month Ended July 31, 2009		11
Schedule II Schedule of Combining Condensed Balance Sheet as of July 31, 2009		12
Schedule III Schedule of Payroll and Payroll Taxes		13
Schedule IV Schedule of Federal, State and Local Taxes		13
Schedule V Schedule of Total Disbursements by Debtor		18
Schedule VI Schedule of Debtors’ Operating Property Aged Tenant Accounts Receivable		25
Schedule VII Status of Mortgages Payable For Debtors		26
Schedule VIII Chapter 11 Retained Professionals Detail		29
Schedule IX Schedule of Non-Noticed and De Minimis Asset Sales		30
Schedule X Debtors Questionnaire		31

2

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

COMBINED CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)

	Month Ended			Cumulative Post-Petition
	July 31, 2009			Period Ended July 31, 2009
	(In thousands, except for
	per share amounts)
Revenues:
Minimum rents	$	138,182		$	486,118
Tenant recoveries		63,422			219,773
Overage rents		2,549			7,116
Land sales		741			1,910
Other		5,190			19,690
Total revenues		210,084			734,607
Expenses:
Real estate taxes		20,182			68,327
Repairs and maintenance		14,909			49,503
Marketing		1,923			7,045
Ground and other rents		936			4,140
Other property operating costs		29,416			95,732
Land sales operations		1,293			4,339
Provision for doubtful accounts		106			7,839
Property management and other costs		8,222			24,463
General and administrative		5,741			31,935
Provisions for impairment		66			79,853
Depreciation and amortization		52,450			182,434
Total expenses		135,244			555,610
Operating income		74,840			178,997
Interest (expense) income, net		(88,719	)		(326,222	)
Loss before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(13,879	)		(147,225	)
Provision for income taxes		(1,149	)		(2,594	)
Equity in income of Real Estate Affiliates		3,307			25,771
Reorganization items		(15,436	)		(49,162	)
Loss from continuing operations		(27,157	)		(173,210	)
Discontinued operations — gains on dispositions		—			1
Net loss		(27,157	)		(173,209	)
Allocation to noncontrolling interests		(445	)		(292	)
Net loss attributable to common stockholders	$	(27,602	)	$	(173,501	)
Basic and Diluted Loss Per Share:	$	(0.09	)	$	(0.56	)
Dividends declared per share		—			—
Comprehensive Loss, Net:
Net loss	$	(27,157	)	$	(173,209	)
Other comprehensive income:
Net unrealized gain on financial instruments		247			5,643
Accrued pension adjustment		2,083			2,351
Foreign currency translation		7,577			35,089
Unrealized losses on available-for-sale securities		—			87
Other comprehensive income		9,907			43,170
Comprehensive loss attributable to common stockholders	$	(17,250	)	$	(130,039	)

The accompanying notes are an integral part of these combined condensed financial statements.

3

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)

	July 31, 2009
	(Dollars in thousands)
Assets:
Investment in real estate:
Land	$	2,946,905
Buildings and equipment		19,491,178
Less accumulated depreciation		(3,924,535	)
Developments in progress		866,709
Net property and equipment		19,380,257
Investment in and loans to/from Unconsolidated Real Estate Affiliates		436,384
Investment property and property held for development and sale		1,105,600
Investment in controlled non-debtor entities		3,840,596
Net investment in real estate		24,762,837
Cash and cash equivalents		542,884
Accounts and notes receivable, net		327,154
Goodwill		211,540
Deferred expenses, net		253,725
Prepaid expenses and other assets		560,624
Total assets	$	26,658,764
Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		32,255
Deferred tax liabilities		892,277
Accounts payable and accrued expenses		735,168
Liabilities not subject to compromise		2,059,700
Liabilities subject to compromise		22,463,569
Total liabilities		24,523,269
Redeemable noncontrolling interests:
Preferred		120,756
Common		37,748
Total redeemable noncontrolling interests		158,504
Commitments and Contingencies		—
Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—
Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,813,646 shares issued as of July 31, 2009		3,138
Additional paid-in capital		3,792,622
Retained earnings (accumulated deficit)		(1,733,899	)
Accumulated other comprehensive loss		(21,652	)
Less common stock in treasury, at cost, 1,449,939 shares as of July 31, 2009		(76,752	)
Total stockholder’s equity		1,963,457
Noncontrolling interests in consolidated real estate affiliates		13,534
Total equity		1,976,991
Total liabilities and equity	$	26,658,764

The accompanying notes are an integral part of these combined condensed financial statements.

4

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 1 Chapter 11 Cases and Proceedings

As previously disclosed pursuant to the Monthly Operating Report filed on June 15, 2009, for the period ended April 30, 2009 (the “April MOR”), on April 16, 2009 (“the Commencement Date”), General Growth Properties, Inc. (the “Company”), GGP Limited Partnership (“GGPLP”) and certain of the Company’s domestic subsidiaries (collectively, the “April 16 Debtors”) each filed voluntary petitions for relief pursuant to Chapter 11 (“Chapter 11”) of Title 11 of the United States Code (the “Bankruptcy Code”). On April 23, 2009, an additional 28 of the Company’s domestic subsidiaries (the “April 22 Debtors”) also filed voluntary petitions for Chapter 11 relief. The 388 Debtors’ cases (collectively, the “Chapter 11 Cases”) are pending in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) and are jointly administered. The April 16 Debtors and April 22 Debtors are collectively referred to in this report as the “Debtors”. As provided by the rules and regulations governing the Chapter 11 Cases, the Company, on behalf of the Debtors, has agreed to supply to the Bankruptcy Court a monthly report detailing the combined operations for the Debtors as of and for the previous month as well as cumulatively from the Commencement Date. Such reports for each month are collectively referred to as the “Monthly Operating Reports”.

The Debtors own and operate approximately 166 regional shopping centers. A list of the Debtors and the properties affected by these Chapter 11 Cases (each an “Operating Property” and, collectively, the “Operating Properties”) is included as Annex A to the April MOR and May MOR (as defined below). As many of the parties affected by, or interested in, the Chapter 11 Cases identify a Debtor by the Operating Property that it owns and/or manages, rather than by such Debtor’s legal name, where appropriate, the Company has reported information either on a by Debtor or on an Operating Property basis. For information regarding the Chapter 11 Cases preceding the filing of this monthly operating report, please see Note 1 of each of the respective previously filed Monthly Operating Reports.

Since the Commencement Date, the Bankruptcy Court has granted various motions that allow the Company to continue to operate its business in the ordinary course without interruption during the Chapter 11 Cases covering, among other things, employee obligations, critical service providers, tax matters, insurance matters, tenant and contractor obligations, claim settlements, ordinary course property sales, cash management and cash collateral. The Debtors have retained, pursuant to Bankruptcy Court approval, legal and financial professionals to advise the Debtors on the bankruptcy proceedings and certain other professionals. From time to time, the Debtors may seek Bankruptcy Court approval for the retention of additional professionals. The Bankruptcy Court has also approved the Debtors request to enter into a post-petition financing arrangement (the “DIP Facility”), as further discussed in the Monthly Operating Report filed on June 30, 2009 for the period ended May 31, 2009 (the “May MOR”). In addition, although certain parties had filed motions to dismiss certain of the Debtors from the Chapter 11 Cases, such motions were dismissed by the Bankruptcy Court on August 11, 2009. Finally, the Bankruptcy Court has ruled that until February 26, 2010, the Debtors have the exclusive right to file a plan of reorganization and, if they do so, they have until April 23, 2010 to obtain necessary acceptances of such plan.

NOTE 2 Basis of Presentation

The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements for Chapter 11 debtors as required by the Office of the United States Trustee (the “U.S. Trustee”) and the Bankruptcy Court. As a result, only relevant financial information for the Debtors has been included in the information presented in the Monthly Operating Report. Accordingly, a significant number of legal entities owned and controlled by GGP, and the related assets, liabilities and operating results of such entities, have been excluded from this Monthly Operating Report as such entities are operating outside of the provisions of Chapter 11. The Debtors’ ownership interest in such excluded entities (the “Non-Debtors”) has been reflected as investment in controlled Non-Debtors at the Debtors’ ownership share (typically 100%). In addition, the applicable earnings/loss of such controlled Non-Debtor entities, along with the Debtors’ share of the applicable income/loss of Unconsolidated Real Estate Affiliates, has been included in the equity in income of Real Estate Affiliates. Further, in the Combined Condensed Statement of Income and Comprehensive Income, the operations for the Debtors are presented from each of their respective commencement dates forward. As a result, the unaudited financial statements contained in this Monthly Operating Report are not and will not

5

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

be consistent with the Company’s financial statement filings submitted to the United States Securities and Exchange Commission (the “SEC”) for this or any previous or future period.

The accompanying combined financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities of the Debtors in the normal course of business. In particular, as each of the Debtors is currently operating as a debtor-in-possession under the provisions of Chapter 11, these combined condensed financial statements have been prepared in accordance with AICPA Statement of Position 90-7 (“SOP 90-7”), “Financial Reporting by Entities in Reorganization Under the Bankruptcy Code”, as amended. Accordingly, the Debtors’ combined financial statements do not reflect any adjustments related to the recoverability of assets and satisfaction of liabilities that might be necessary should they be unable to continue as a going concern. However, in accordance with SOP 90-7, all pre-petition liabilities subject to compromise (“LSTC” — see Note 5) have been segregated from liabilities not subject to compromise in the combined balance sheet and have been classified as LSTC, at the estimated amount of allowed claims. Interest expense related to pre-petition LSTC has been reported only to the extent that it is (i) estimated to be paid during the pendency of the Chapter 11 Cases, (ii) permitted by the Bankruptcy Court, or (iii) expected to be an allowed claim and may be paid or settled for less than the amount reported. In addition, to the extent any interest expense is unpaid, such accrued amounts may be paid or settled, in full or partially, in the form of equity and/or cash or any combination thereof. Expenses, provisions for losses resulting from the reorganization and certain other items directly related to the Chapter 11 Cases are reported separately in our combined condensed statement of operations as reorganization items (Note 7).

The unaudited financial statements for the Debtors contained in this Monthly Operating Report have been derived from the books and records of the Company. All significant intercompany balances and transactions between the Debtors have been eliminated. All intercompany balances with Non-Debtors are non-interest bearing, unsecured, payable on demand and have been reflected as a component of equity. In addition, the financial information contained in such financial statements for the Debtors is preliminary and unaudited and does not purport to show the results of operations or statements of position of the Debtors in accordance with GAAP as, primarily, only normal recurring adjustments are made for the routine monthly closing of our books. Accordingly, certain reclassifications, eliminations, accruals, valuations, reserve adjustments and disclosure items have not been prepared for the purposes of this Monthly Operating Report. If this information had been subject to the procedures performed to prepare our quarterly and annual financial information in accordance with GAAP and the rules and regulations of the SEC, we believe that the financial information could be subject to changes and such changes could be material. Therefore, there can be no assurance that the financial information contained in this Monthly Operating Report for the Debtors is complete and readers are strongly cautioned not to place undue reliance upon this or any previously submitted Monthly Operating Report.

Readers of this Monthly Operating Report should refer to the Company’s audited Consolidated Financial Statements for the year ended December 31, 2008, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 (the “Annual Report”) and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2009 (the “2009 Interim Report”), as certain footnote disclosures that would substantially duplicate those contained in our Annual Report and such 2009 Interim Report have been omitted from this Monthly Operating Report. Capitalized terms used, but not defined, in this Monthly Operating Report have the same meaning as set forth in our Annual Report or in the 2009 Interim Report.

NOTE 3 Summary of Significant Accounting Policies

See Note 2 “Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements included in our Annual Report and Note 1 “Organization” in the Notes to Consolidated Financial Statements included in our 2009 Interim Report for a summary of the accounting policies that we consider to be significant.

6

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 4 Cash and Cash Equivalents and Amounts Applicable to Debtor First-Lien Holders

In general, each of the Operating Properties collects cash receipts in a property-specific lockbox and such receipts are transferred daily to a centralized GGPLP cash management account from which cash disbursements are funded. Accordingly, none of the Debtors that directly or indirectly own specific Operating Properties disburse funds to outside parties; all such disbursements are made by GGPLP on behalf of such Debtors. Therefore, at any and all points in time, GGPLP maintains, for each Debtor, an individual net balance of all such cash transfers and disbursements made that pertain to such Debtor. This inter-company account between GGPLP and the respective Debtor is reconciled monthly. As described in Note 1, the Bankruptcy Court has approved the continuation of this centralized cash management system. Mortgage lenders to the Operating Properties were granted a lien on the centralized GGPLP cash management account. In addition, the Debtors agreed to maintain a cash reserve in such account equal to the net cash transferred from the Operating Properties subject to liens since the Commencement Date.

On July 31, 2009, the aggregate cumulative post-petition inter-company amounts due (to) from GGPLP were $245.3 million. In addition, as of August 26, 2009, the aggregate amount held in the combined GGPLP cash account upon which the first-lien holders have such lien rights was approximately $275.0 million.

All bank accounts, both property specific and centralized, are reconciled monthly. Highly-liquid investments with maturities at dates of purchase of three months or less are classified as cash equivalents. As part of the adequate protection being provided to lenders of the Operating Properties, the Debtors will continue to provide reporting information to those lenders as required by their individual loan agreements. The Debtors have agreed to provide such information to the Office of the United States Trustee on a confidential basis upon reasonable request.

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GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 5 Certain Other Assets and Liabilities and Liabilities Subject to Compromise

The following table summarizes the significant components of prepaid expenses and other assets of the Debtors:

	July 31, 2009
	(In thousands)
Below-market ground leases	$	183,850
Real estate tax stabilization agreement		73,242
Prepaid expenses		72,607
Receivables — finance leases and bonds		72,368
Special Improvement District receivable		50,360
Security and escrow deposits		49,827
Above-market tenant leases		27,607
Deferred tax		17,924
Other		12,839
Total prepaid expenses and other assets	$	560,624

The components of combined security and escrow deposits of the Debtors are summarized as follows:

	July 31, 2009
	(In thousands)
Utility and other security deposits	$	26,666
Operating funds — cash traps		10,163
Construction/major maintenance reserves		5,699
Real Estate Tax Escrows		2,262
Collateralized letters of credit and other credit support		1,907
Other miscellaneous escrows		3,130
Total security and escrow deposits	$	49,827

8

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

The following table summarizes the significant components of accounts payable and accrued expenses of the Debtors. Substantially all amounts included in the unpaid or accrued balances listed below that are considered LTSC are past due at July 31, 2009, as payment of any of such obligations are limited or precluded by the operation of Chapter 11 (see Schedule X).

	July 31, 2009
	(In thousands)
Accounts payable and accrued expenses	$	304,599
Accrued interest		256,894
Construction payable		168,654
FIN 48 liability		133,025
Accrued real estate taxes		86,352
Deferred gains/income		74,908
Hughes participation payable		70,993
Below-market tenant leases		62,447
Accrued payroll and other employee liabilities		56,911
Unapplied cash receipts		35,041
Additional purchase price for The Palazzo		26,614
FIN 47 liability		20,389
Tenant and other deposits		18,610
Insurance reserve		16,277
Nouvelle at Natick deferred revenue		13,945
Above-market ground leases		13,641
Capital lease obligations		8,065
Accounts payable to affiliates		(94,303	)
Other		40,843
Total accounts payable and accrued expenses		1,313,905
Less: amounts not subject to compromise		(735,168	)
Total accounts payable and accrued expenses subject to compromise	$	578,737

The following table summarizes the amounts of LSTC at July 31, 2009:

	(In thousands)
Mortgages and secured notes	$	15,844,393
Unsecured notes		6,040,439
Accounts payable and accrued expenses		578,737
Total liabilities subject to compromise	$	22,463,569

NOTE 6 Rejected Contracts and Related Matters

In addition to our mortgage and other debt, current liabilities and liens, the Debtors are subject to certain executory contracts. The Debtors, subject to the approval of the Bankruptcy Court, may assume or reject these contracts. Although the Debtors are considering the rejection of certain such contracts, (except for our operating property tenant leases), none have been rejected as of July 31, 2009. Claims may result if an executory contract is rejected; however, no such potential claims have been recorded or reflected at this time. As discussed in the Monthly Operating Report filed on August 10, 2009 for the period ended June 30, 2009, the Bankruptcy Court has granted the Debtors an extension of time, through and including November 12, 2009, to assume or reject any unexpired lease where a Debtor is a lessee. On August 19, 2009, the Bankruptcy Court approved the Debtors’ rejection, effective as of July 31, 2009, of an unexpired lease of office space which was no longer occupied by the Debtors.

9

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

NOTE 7 General and Administrative Expenses and Reorganization Items

General and Administrative expenses consist of the centralized costs of managing the portfolio of assets owned by the Company, which includes the Debtors. Significant subcategories of such overhead costs are listed in the following schedule:

			Cumulative Post-
	Month ended		Petition Period Ended
General and Administrative Expenses	July 31, 2009		July 31, 2009
	(In thousands)
Insider compensation	$	1,473	$	4,644
Professional fees*		3,460		24,858
Public Company expense		413		1,071
Travel and entertainment		12		59
Fees, insurance and other		383		1,303
Total general and administrative	$	5,741	$	31,935

* Routine operating professional fees only, including any fees incurred for “ordinary course professionals”; professional fees related to the Chapter 11 Cases are reported separately as a reorganization item.

Reorganization items under the bankruptcy filings are expense and income items that were incurred or realized by the Debtors as a result of the Chapter 11 Cases and are presented separately in the unaudited condensed combined statement of operations of the Debtors. These items include professional fees and similar types of expenses incurred directly related to the bankruptcy filings, loss accruals or gains or losses resulting from activities of the reorganization process, and interest earned on cash accumulated by the Debtors. Reorganization items are as follows:

				Cumulative Post-
	Month ended			Petition Period Ended
Reorganization Items income (expense)	July 31, 2009			July 31, 2009
	(In thousands)
Gains on liabilities subject to compromise (1)	$	(1,507	)	$	(3,886	)
Interest income (2)		(6	)		(13	)
U.S. Trustee fees (3)		843			1,940
Restructuring costs — Chapter 11 Retained Professionals (4)		10,984			35,427
Restructuring costs — other professional fees (5)		(415	)		1,349
Debtor In Possession deferred financing and interest expense		5,537			14,345
Total reorganization items	$	15,436		$	49,162

(1)	This amount primarily includes repudiation, rejection or termination of contracts or guarantee of obligations. At July 31, 2009, such gains reflect agreements reached with certain critical vendors (as defined in certain of the Chapter 11 pleadings), which have been ratified by the Bankruptcy Court and for which payments on an installment basis began in July, 2009.
(2)	Interest income primarily reflects amounts earned on cash accumulated as a result of the Chapter 11 Cases.
(3)	Estimate of fees due for applicable reporting periods remain subject to confirmation and review by the U.S. Trustee.
(4)	See Schedule VIII which sets forth those professionals whose retention was approved by separate order of the Bankruptcy Court.
(5)	These fees relate to costs incurred by the Debtors for services rendered by non-attorney, non-core Chapter 11 professionals. At July 31, 2009, such fees include a reclass from restructuring costs to general and administrative.

10

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE I
COMBINING CONDENSED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)

	Month Ended July 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands, except for per share amounts)
Revenues:
Minimum rents	$	138,529		$	(347	)	$	138,182
Tenant recoveries		63,422			—			63,422
Overage rents		2,549			—			2,549
Land sales		741			—			741
Other		5,268			(78	)		5,190
Total revenues		210,509			(425	)		210,084
Expenses:
Real estate taxes		20,182			—			20,182
Repairs and maintenance		14,909			—			14,909
Marketing		1,923			—			1,923
Ground and other rents		940			(4	)		936
Other property operating costs		29,459			(43	)		29,416
Land sales operations		1,293			—			1,293
Provision for doubtful accounts		106			—			106
Property management and other costs		8,653			(431	)		8,222
General and administrative		5,688			53			5,741
Provisions for impairment		66			—			66
Depreciation and amortization		52,450			—			52,450
Total expenses		135,669			(425	)		135,244
Operating income		74,840			—			74,840
Interest (expense) income, net		(88,918	)		199			(88,719	)
(Loss) income before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(14,078	)		199			(13,879	)
Provision for income taxes		(1,149	)		—			(1,149	)
Equity in income of Real Estate Affiliates		50			3,257			3,307
Reorganization items		(15,436	)		—			(15,436	)
Net (loss) income		(30,613	)		3,456			(27,157	)
Allocation to noncontrolling interests		(978	)		533			(445	)
Net (loss) income attributable to common stockholders	$	(31,591	)	$	3,989		$	(27,602	)
Basic and Diluted Earnings Per Share:	$	(0.10	)	$	0.01		$	(0.09	)
Comprehensive Income, Net:
Net (loss) income	$	(30,613	)	$	3,456		$	(27,157	)
Other comprehensive income:
Net unrealized gains on financial instruments		253			(6	)		247
Accrued pension adjustment		2,133			(50	)		2,083
Foreign currency translation		7,758			(181	)		7,577
Unrealized losses on available-for-sale securities		—			—			—
Other comprehensive income (loss)		10,144			(237	)		9,907
Comprehensive loss attributable to common stockholders	$	(20,469	)	$	3,219		$	(17,250	)

The accompanying notes are an integral part of these combined financial statements.

11

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE II
COMBINING CONDENSED BALANCE SHEET
(UNAUDITED)

	Month Ended July 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands)
Assets:
Investment in real estate:
Land	$	2,946,905		$	—		$	2,946,905
Buildings and equipment		19,493,451			(2,273	)		19,491,178
Less accumulated depreciation		(3,924,535	)		—			(3,924,535	)
Developments in progress		866,964			(255	)		866,709
Net property and equipment		19,382,785			(2,528	)		19,380,257
Investment in and loans to/from Unconsolidated Real Estate Affiliates		656,501			(220,117	)		436,384
Investment property and property held for development and sale		1,105,600			—			1,105,600
Investment in controlled non-debtor entities		16,441,689			(12,601,093	)		3,840,596
Net investment in real estate		37,586,575			(12,823,738	)		24,762,837
Cash and cash equivalents		526,254			16,630			542,884
Accounts and notes receivable, net		327,154			—			327,154
Goodwill		211,540			—			211,540
Deferred expenses, net		253,725			—			253,725
Prepaid expenses and other assets		586,275			(25,651	)		560,624
Total assets	$	39,491,523		$	(12,832,759	)	$	26,658,764
Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000		$	—		$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		32,255			—			32,255
Deferred tax liabilities		892,277			—			892,277
Accounts payable and accrued expenses		731,478			3,690			735,168
Total liabilities not subject to compromise		2,056,010			3,690			2,059,700
Liabilities subject to compromise		22,679,775			(216,206	)		22,463,569
Total liabilities		24,735,785			(212,516	)		24,523,269
Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		23,254			14,494			37,748
Total redeemable noncontrolling interests		144,010			14,494			158,504
Commitments and Contingencies		—			—			—
Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—			—			—
Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,813,646 shares issued as of July 31, 2009		3,138			—			3,138
Additional paid-in capital		9,576,497			(5,783,875	)		3,792,622
Retained earnings (accumulated deficit)		5,117,476			(6,851,375	)		(1,733,899	)
Accumulated other comprehensive loss		(22,165	)		513			(21,652	)
Less common stock in treasury, at cost, 1,449,939 shares as of July 31, 2009		(76,752	)		—			(76,752	)
Total stockholder’s equity		14,598,194			(12,634,737	)		1,963,457
Noncontrolling interests in consolidated real estate affiliates		13,534			—			13,534
Total equity		14,611,728			(12,634,737	)		1,976,991
Total liabilities and equity	$	39,491,523		$	(12,832,759	)	$	26,658,764

The accompanying notes are an integral part of these combined financial statements.

12

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE III
SCHEDULE OF PAYROLL AND PAYROLL TAXES
(UNAUDITED)
as of and for the month ended July 31, 2009

	Employee Payroll		Employer Payroll
Gross Wage Expense	Taxes Withheld (a)		Taxes Remitted (b)
	(In thousands)
$16,194		$3,548	$989

(a)	Employee Payroll Taxes are withheld each pay period and remitted by the Company, together with the Employer Payroll Taxes, to the appropriate tax authorities.
(b)	Gross Wages are generally paid by the Company on behalf of the Debtors every two weeks, and were last paid in this period, including withholding amounts, on July 31, 2009.

SCHEDULE IV
SCHEDULE OF FEDERAL, STATE AND LOCAL TAXES
(UNAUDITED)

			Amounts paid
	Amount accrued		Month Ended
	July 31, 2009		July 31, 2009
	(In thousands)
Federal and state income taxes	$	4,937	$	—
State and local taxes:
Property *		86,352		20,252
Sales and use		1,409		1,257
Franchise		1,864		—
Other		53		—
Total state and local taxes		89,678		21,509
Total taxes	$	94,615	$	21,509

* Additional detail on the property taxes by Operating Property is listed below.

13

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)

	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	July 31, 2009		July 31, 2009
	(In thousands)
10 COLUMBIA CORPORATE CENTER	$	—	$	135
10000 COVINGTON CROSS		—		20
10000 WEST CHARLESTON		—		45
10190 COVINGTON CROSS		—		51
1120/40 TOWN CENTER DRIVE		—		57
1160/80 TOWN CENTER DRIVE		—		56
1201/41 TOWN CENTER DRIVE		—		52
1251/81 TOWN CENTER DRIVE		—		10
1551 HILLSHIRE DRIVE		—		32
1635 VILLAGE CENTER CIRCLE		—		20
1645 VILLAGE CENTER CIRCLE		—		25
20 COLUMBIA CORPORATE CENTER		—		145
30 COLUMBIA CORPORATE CENTER		—		203
40 COLUMBIA CORPORATE CENTER		3		173
4848 OUTPARCEL		28		—
50 COLUMBIA CORPORATE CENTER		—		183
60 COLUMBIA CORPORATE CENTER		—		156
9901/21 COVINGTON CROSS		—		27
9950/80 COVINGTON CROSS		—		27
ALA MOANA CENTER		3,253		—
ALAMEDA PLAZA		106		—
ANIMAS VALLEY MALL		137		—
ARIZONA CENTER		100		—
ARIZONA CENTER ARIZONA CENTER ONE		344		—
ARIZONA CENTER ARIZONA CENTER TWO		340		—
ARIZONA CENTER CINEMA		18		—
ARIZONA CENTER GARDEN OFFICE		25		—
ARIZONA CENTER OFFICE		48		—
ARIZONA CENTER PARKING		90		—
AUGUSTA MALL		404		—
AUGUSTA MALL ANCHOR ACQ		201		—
AUSTIN BLUFFS PLAZA		29		—
BAILEY HILL		2		—
BASKIN ROBBINS		4		—
BAYSHORE MALL		40		—
BEACHWOOD PLACE		2,062		—
BELLIS FAIR		64		—
BIRCHWOOD MALL		433		—
BOISE TOWN SQUARE ANCHOR ACQ		44		—
BOISE TOWNE PLAZA		123		—
BOISE TOWNE SQUARE		1,048		—
BRASS MILL CENTER		—		1,908
BRASS MILL COMMONS		—		468
BURLINGTON TOWN CENTER		—		142
BURLINGTON TOWN CENTER OFFICE		—		26
CACHE VALLEY MALL		167		—
CACHE VALLEY MARKETPLACE		66		—
CANYON POINT		—		67
CAPITAL MALL		180		—
CENTURY PLAZA		44		—
CHAPEL HILLS MALL		728		—
CHICO MALL		46		—
CHULA VISTA CENTER		65		—
COLLIN CREEK		1,036		—
COLONY SQUARE MALL		224		—
COLUMBIA CENTER-C.A. BUILDING		—		84
COLUMBIA CENTER-EXHIBIT BLDG		—		33
COLUMBIA MALL		327		—
COLUMBIANA CENTER		893		—
CORONADO MALL		428		—
CORPORATE POINTE #2		—		25
CORPORATE POINTE #3		—		36
COTTONWOOD MALL		165		—
COTTONWOOD SQUARE		25		—
COUNTRY HILL PLAZA		79		—
CROSSING BUSINESS CENTER #6		—		30
CROSSING BUSINESS CENTER #7		—		61
CROSSROADS CENTER (MN)		242		—
DEERBROOK MALL		844		—
DEERBROOK MALL ANCHOR ACQ		39		—
DIVISION CROSSING		19		—
EAGLE RIDGE MALL		314		—
EASTRIDGE MALL (CA)		558		43
EASTRIDGE MALL (WY)		153		1
EDEN PRAIRIE CENTER		349		—
EDEN PRAIRIE CENTER ANCHOR ACQ		18		—

14

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)

	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	July 31, 2009			July 31, 2009
	(In thousands)
FALLBROOK CENTER		122			—
FANEUIL HALL MARKETPLACE		—			1,016
FASHION PLACE		478			—
FASHION PLACE ANCHOR ACQ		50			—
FASHION SHOW		3			789
FOOTHILLS MALL		541			—
FORT UNION		38			—
FOUR SEASONS TOWN CENTRE MALL		1,005			—
FOX RIVER MALL		840			687
FREMONT VILLAGE		—			35
GATEWAY CROSSING SHOPPING CTR		111			—
GATEWAY MALL		80			—
GGPLP-SHARED		1,383			—
GGPLP-VICTORIA WARD		—			—
GLENBROOK SQUARE		6,914			—
GLENBROOK SQUARE ANCHOR ACQ		189			—
GRAND TETON MALL		464			—
GRAND TETON PLAZA		105			—
GRAND TRAVERSE MALL		358			—
GREENGATE MALL, INC.		—			—
GREENWOOD MALL		282			—
HALEKAUWILA BUILDING		—			—
HALSEY CROSSING		6			—
HARBORPLACE		—			1,184
HRDLC-BENSON GROUND LESES		—			46
HULEN MALL		1,170			—
JORDAN CREEK TOWN CENTER		4,709			—
KNOLLWOOD MALL		55			—
LAKESIDE MALL		98			—
LAKEVIEW SQUARE		(122	)		—
LANDMARK MALL		41			—
LANSING MALL		711			—
LINCOLNSHIRE COMMONS		439			—
LOCKPORT MALL		10			—
LYNNHAVEN MALL		232			—
MALL AT SIERRA VISTA		274			—
MALL OF LOUISIANA		2,149			—
MALL OF LOUSIANA POWER CENTER		143			—
MALL OF THE BLUFFS		2,259			—
MALL ST. MATHEWS		464			—
MALL ST. VINCENT		365			—
MARKET PLACE SHOPPING CENTER		1,795			—
MAYFAIR BANK TOWER		179			—
MAYFAIR MALL		2,590			58
MAYFAIR NORTH TOWER		188			—
MAYFAIR PROFESSIONAL		72			—
MAYFAIR-AURORA HEALTH CENTER		171			—
MONDAWMIN MALL		—			804
MORENO VALLEY MALL		81			—
NATICK-NOUVELLE AT NATICK		—			426
NEIGHBORHOOD STORES		—			7
NEWGATE MALL		420			—
NEWPARK MALL		110			—
NEWPARK MALL ANCHOR ACQ		91			—
NORTH PLAINS MALL		34			—
NORTH POINT MALL		1,444			—
NORTH STAR MALL		2,164			—
NORTH STAR MALL ANCHOR ACQ		196			—
NORTH TOWN MALL		97			—
NORTHGATE MALL		378			—
NORTHRIDGE FASHION CENTER		198			—
OAKWOOD CENTER		269			—
OAKWOOD MALL		689			574
OGLETHORPE MALL		132			—
OREM PLAZA CENTER STREET		43			—
OREM PLAZA STATE STREET		20			—
OVIEDO MARKETPLACE		519			—
OWINGS MALL		—			1,042
OXMOOR MALL		437			—
PARK CITY CENTER		2			1,031
PARK PLACE		720			35

15

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)

	Property Tax
			Amount Paid
	Amount Accrued		Month Ended
Operating Property	July 31, 2009		July 31, 2009
	(In thousands)
PARK WEST		609		—
PEACHTREE MALL		839		—
PECANLAND MALL		371		—
PECANLAND MALL ANCHOR ACQ		29		—
PIEDMONT MALL		21		—
PIERRE BOSSIER MALL		138		—
PINE RIDGE MALL		265		—
PIONEER PLACE		53		—
PIONEER PLACE LP EXPANSION		55		—
PIONEER TOWER		69		—
PIONEER TOWER GARAGE		8		—
PLAZA 800		10		—
PLAZA 9400		75		—
PRINCE KUHIO PLAZA		42		—
PROVIDENCE PLACE		17		—
PROVO PLAZA		22		—
RED CLIFFS MALL		180		—
RED CLIFFS PLAZA		36		—
REDLANDS PROMENADE		108		—
REGENCY SQUARE MALL		886		41
RIDGEDALE CENTER		295		—
RIDGLEY BUILDING		—		60
RIO WEST MALL		151		—
RIVER FALLS		1,174		—
RIVER HILLS MALL		1,704		—
RIVER POINTE PLAZA		62		—
RIVERLANDS SHOPPING CENTER		34		—
RIVERSIDE PLAZA		85		—
RIVERTOWN CROSSINGS		1,557		—
ROGUE VALLEY MALL		66		—
SAINT LOUIS GALLERIA		2,219		—
SALEM CENTER		45		—
SIKES SENTER		704		—
SILVER LAKE MALL		139		—
SOONER MALL		227		—
SOUTH STREET MARKETPLACE THEAT		159		—
SOUTHLAKE MALL		612		—
SOUTHLAND CENTER		154		—
SOUTHLAND MALL		134		—
SOUTHSHORE MALL		11		—
SOUTHWEST OFF CTR I		99		—
SOUTHWEST OFF CTR II		44		—
SOUTHWEST PLAZA		1,330		—
SPRING HILL MALL		2,440		—
ST LOUIS GALLERIA ANCH ACQ		45		—
STONESTOWN GALLERIA		298		—
STONESTOWN MEDICAL BUILDING		18		—
THE BOULEVARD MALL		—		177
THE BRIDGES AT MINT HILL		11		—
THE COMMONS AT FOOTHILLS MALL		19		—
THE CROSSROADS (MI)		736		—
THE GALLERY AT HARBORPLACE		—		937
THE GALLERY AT HARBORPLACE-GARAGE		913		—
THE GALLERY AT HARBORPLACE-OFFICE		—		916
THE GRAND CANAL SHOPPES		153		28
THE MAINE MALL		17		—

16

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IV — Continued
SCHEDULE OF PROPERTY TAXES
(UNAUDITED)

	Property Tax
				Amount Paid
	Amount Accrued			Month Ended
Operating Property	July 31, 2009			July 31, 2009
	(In thousands)
THE PINES		177			—
THE PLAZA AT FOOTHILLS MALL		44			—
THE SHOPPES AT THE PALAZZO		96			—
THE SHOPS AT FALLEN TIMBERS		1,101			809
THE SHOPS AT FOOTHILLS MALL		71			—
THE SHOPS AT SUMMERLIN CENTRE		—			81
THE VILLAGE AT REDLANDS		17			—
THE VILLAGE OF CROSS KEYS		—			391
THE WOODLANDS MALL		974			—
THE WOODLANDS MALL ANCHOR ACQ		56			—
THHC LAND (WOBU)		(23	)		—
THREE RIVERS MALL		17			—
TOWN EAST MALL		2,283			—
TRCLP		—			179
TUCSON ANCHOR ACQ		36			—
TUCSON ENTERTAINMENT PAVILION		22			—
TUCSON MALL		564			—
TWINS FALLS CROSSINGS		20			—
TYSONS GALLERIA		202			1,212
UNIVERSITY CROSSING		131			—
VALLEY HILLS MALL		283			—
VALLEY PLAZA MALL		102			—
VICTORIA WARD SHARED OPERATION		449			—
VILLAGE AT JORDAN CREEK		1,232			—
VISALIA MALL		41			—
VISTA COMMONS		—			51
VISTA RIDGE MALL		1,210			—
WASHINGTON PARK MALL		98			—
WEST VALLEY MALL		71			4
WESTWOOD MALL		147			—
WHITE MARSH MALL		—			1,648
WHITE MOUNTAIN MALL		63			—
WILLOWBROOK MALL (NJ)		2,302			—
WOODBRIDGE CENTER		—			1,643
WOODLANDS VILLAGE		71			—
YELLOWSTONE SQUARE		47			—
	$	86,352		$	20,252

17

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
South Street Seaport Limited Partnership		09-11963	$	1,440
Seaport Marketplace, LLC		09-11964		—
Seaport Marketplace Theatre, LLC		09-11965		—
Lockport L.L.C.		09-11966		6
RASCAP Realty, Ltd.		09-11967		—
Bellis Fair Partners		09-11968		571
GGP-Mint Hill L.L.C.		09-11969		—
Pines Mall Partners		09-11970		123
GGP-Grandville L.L.C.		09-11971		930
GGP-Grandville II L.L.C.		09-11972		—
GGP-Redlands Mall, L.P.		09-11973		101
La Place Shopping, L.P.		09-11974		13
GGP-Tucson Land L.L.C.		09-11975		8
Tucson Anchor Acquisition, LLC		09-11976		804
General Growth Properties, Inc.		09-11977		2
GGP Limited Partnership		09-11978		28,237
Rouse LLC		09-11979		—
GGP American Properties Inc.		09-11980		—
Caledonian Holding Company, Inc.		09-11981		—
GGPLP L.L.C.		09-11982		3
Rouse Company LP, The		09-11983		3,203
TRC Co-Issuer, Inc.		09-11984		—
Oakwood Shopping Center Limited Partnership		09-11985		439
Alameda Mall Associates		09-11986		348
Bay Shore Mall Partners		09-11987		431
Chico Mall, L.P.		09-11988		381
Lansing Mall Limited Partnership		09-11989		468
GGP-Pecanland, L.P.		09-11990		396
GGP-Pecanland II, L.P.		09-11991		—
Southland Mall, L.P.		09-11992		1,114
South Shore Partners, L.P.		09-11993		32
Price Financing Partnership, L.P.		09-11994		—
Price GP L.L.C.		09-11995		—
HHP Government Services, Limited Partnership		09-11996		23
Ho Retail Properties I Limited Partnership		09-11997		284
New Orleans Riverwalk Associates		09-11998		715
New Orleans Riverwalk Limited Partnership		09-11999		—
White Marsh General Partnership		09-12000		968
White Marsh Mall Associates		09-12001		968
White Marsh Phase II Associates		09-12002		968
Parke West, LLC		09-12003		122
GGP-Newpark L.L.C.		09-12004		348
Elk Grove Town Center, L.P.		09-12005		49
Baltimore Center Associates Limited Partnership		09-12006		2,911
Baltimore Center Garage Limited Partnership		09-12007		142
Century Plaza L.L.C.		09-12008		149
Harbor Place Associates Limited Partnership		09-12009		1,500
Price Development Company, Limited Partnership		09-12010		67
Rouse-Phoenix Theatre Limited Partnership		09-12011		6
Rouse-Arizona Retail Center Limited Partnership		09-12012		397
Rouse-Phoenix Master Limited Partnership		09-12013		—
Saint Louis Land L.L.C.		09-12014		—
Southland Center, LLC		09-12015		860
GGP-North Point Land L.L.C.		09-12016		—
Majestic Partners-Provo, LLC		09-12017		1

18

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
GGP-Mall of Louisiana, L.P.		09-12018		1,303
NewPark Anchor Acquisition, LLC		09-12019		—
Parkview Office Building Limited Partnership		09-12020		231
Parkside Limited Partnership		09-12021		222
Park Square Limited Partnership		09-12022		168
Rouse SI Shopping Center, LLC		09-12023		2,054
Augusta Mall, LLC		09-12024		1,363
Burlington Town Center LLC, The		09-12025		326
Fashion Show Mall LLC		09-12026		4,501
GGP Ala Moana L.L.C.		09-12027		9,374
GGP Jordan Creek L.L.C.		09-12028		1,959
GGP Village at Jordan Creek L.L.C.		09-12029		18
GGP-Four Seasons L.L.C.		09-12030		825
Lincolnshire Commons, LLC		09-12031		176
Phase II Mall Subsidiary, LLC		09-12032		2,216
St. Cloud Mall L.L.C.		09-12033		493
Valley Hills Mall L.L.C.		09-12034		467
GGP Holding, Inc.		09-12035		33
The Rouse Company BT, LLC		09-12036		—
Rouse Company Operating Partnership LP, The		09-12037		—
10000 West Charleston Boulevard, LLC		09-12040		196
10190 Covington Cross, LLC		09-12041		92
1120/1140 Town Center Drive, LLC		09-12042		164
1160/1180 Town Center Drive, LLC		09-12043		81
1201-1281 Town Center Drive, LLC		09-12044		50
1251 Center Crossing, LLC		09-12045		—
1450 Center Crossing Drive, LLC		09-12046		20
1451 Center Crossing Drive, LLC		09-12047		13
1551 Hillshire Drive, LLC		09-12048		253
1635 Village Centre Circle, LLC		09-12049		34
1645 Village Center Circle, LLC		09-12050		36
9901-9921 Covington Cross, LLC		09-12051		59
9950-9980 Covington Cross, LLC		09-12052		22
Alameda Mall, L.L.C.		09-12053		—
Apache Mall, LLC		09-12054		288
Arizona Center Parking, LLC		09-12055		70
Augusta Mall Anchor Acquisition, LLC		09-12056		39
Augusta Mall Anchor Holding, LLC		09-12057		—
Augusta Mall Holding, LLC		09-12058		—
Austin Mall Limited Partnership		09-12059		1
Austin Mall, LLC		09-12060		—
Bakersfield Mall, Inc.		09-12061		—
Bakersfield Mall LLC		09-12062		741
Baltimore Center, LLC		09-12063		—
Bay City Mall Associates L.L.C.		09-12064		298
Bay Shore Mall II L.L.C.		09-12065		—
Bay Shore Mall, Inc.		09-12066		—
Beachwood Place Holding, LLC		09-12067		—
Beachwood Place Mall, LLC		09-12068		1,417
Benson Park Business Trust		09-12069		46
Birchwood Mall, LLC		09-12070		195
Boise Mall, LLC		09-12071		245
Boise Town Square Anchor Acquisition, LLC		09-12072		2
Boise Towne Plaza L.L.C.		09-12073		48
Boulevard Associates		09-12074		999
Boulevard Mall, Inc.		09-12075		—
Boulevard Mall I LLC		09-12076		—
Boulevard Mall II LLC		09-12077		—

19

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
BTS Properties L.L.C.		09-12078		—
Cache Valley, LLC		09-12079		81
Century Plaza, Inc.		09-12080		—
Champaign Market Place L.L.C.		09-12081		733
Chapel Hills Mall L.L.C.		09-12082		728
Chattanooga Mall, Inc.		09-12083		—
Chico Mall L.L.C.		09-12084		—
Chula Vista Center, LLC		09-12085		219
Collin Creek Anchor Acquisition, LLC		09-12086		—
Collin Creek Mall, LLC		09-12087		705
Colony Square Mall L.L.C.		09-12088		105
Columbia Mall L.L.C.		09-12089		747
Coronado Center L.L.C.		09-12090		1,187
Coronado Center Holding L.L.C.		09-12091		—
Cottonwood Mall, LLC		09-12092		11
Country Hills Plaza, LLC		09-12093		82
Deerbrook Mall, LLC		09-12094		650
DK Burlington Town Center LLC		09-12095		—
Eagle Ridge Mall, Inc.		09-12096		—
Eagle Ridge Mall, L.P.		09-12097		600
Eastridge Shopping Center L.L.C.		09-12098		1,277
Eden Prairie Anchor Building L.L.C.		09-12099		1
Eden Prairie Mall, Inc.		09-12100		—
Eden Prairie Mall L.L.C.		09-12101		687
Elk Grove Town Center L.L.C.		09-12102		—
ER Land Acquisition L.L.C.		09-12103		—
Fallbrook Square Partners Limited Partnership		09-12104		559
Fallbrook Square Partners L.L.C.		09-12105		—
Fallen Timbers Shops, LLC		09-12106		1,080
Fallen Timbers Shops II, LLC		09-12107		—
Faneuil Hall Marketplace, LLC		09-12108		2,218
Fashion Place, LLC		09-12109		931
Fashion Place Anchor Acquisition, LLC		09-12110		—
Fifty Columbia Corporate Center, LLC		09-12111		—
Forty Columbia Corporate Center, LLC		09-12112		—
Fox River Shopping Center, LLC		09-12113		1,966
Franklin Park Mall, LLC		09-12114		—
Franklin Park Mall Company, LLC		09-12115		—
Gateway Crossing L.L.C.		09-12116		72
Gateway Overlook Business Trust		09-12117		422
Gateway Overlook II Business Trust		09-12118		—
GGP Acquisition, L.L.C.		09-12119		—
GGP Ala Moana Holdings L.L.C.		09-12120		—
GGP American Holdings Inc.		09-12121		—
GGP General II, Inc.		09-12122		—
GGP Holding II, Inc.		09-12123		12
GGP Holding Services, Inc.		09-12124		—
GGP Ivanhoe II, Inc.		09-12125		—
GGP Ivanhoe IV Services, Inc.		09-12126		—
GGP Kapiolani Development L.L.C.		09-12127		31
GGP Knollwood Mall, LP		09-12128		228
GGP Natick Residence LLC		09-12129		1,748
GGP Savannah L.L.C.		09-12130		—
GGP/Homart, Inc.		09-12131		33
GGP/Homart Services, Inc.		09-12132		—
GGP-Bay City One, Inc.		09-12133		—
GGP-Brass Mill, Inc.		09-12134		3,342
GGP-Burlington L.L.C.		09-12135		—

20

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
GGP-Canal Shoppes L.L.C.		09-12136		—
GGP-Foothills L.L.C.		09-12137		281
GGP-Glenbrook L.L.C.		09-12138		1,017
GGP-Glenbrook Holding L.L.C.		09-12139		2
GGP-Grandville Land L.L.C.		09-12140		—
GGP-La Place, Inc.		09-12141		—
GGP-Lakeview Square, Inc.		09-12142		—
GGP-Lansing Mall, Inc.		09-12143		—
GGP-Maine Mall L.L.C.		09-12144		1,162
GGP-Maine Mall Holding L.L.C.		09-12145		—
GGP-Maine Mall Land L.L.C.		09-12146		—
GGP-Moreno Valley, Inc.		09-12147		906
GGP-Newgate Mall, LLC		09-12148		383
GGP-Newpark, Inc.		09-12149		—
GGP-North Point, Inc.		09-12150		1,474
GGP-Pecanland, Inc.		09-12151		—
GGP-Redlands Mall L.L.C.		09-12152		—
GGP-South Shore Partners, Inc.		09-12153		—
GGP-Steeplegate, Inc.		09-12154		817
GGP-Tucson Mall L.L.C.		09-12155		1,703
GGP-UC L.L.C.		09-12156		78
Grand Canal Shops II, LLC		09-12157		3,789
Grandville Mall II, Inc.		09-12158		—
Grandville Mall, Inc.		09-12159		—
Greengate Mall, Inc.		09-12160		—
Greenwood Mall Land, LLC		09-12161		—
Harborplace Borrower, LLC		09-12162		—
Hickory Ridge Village Center, Inc.		09-12163		—
HMF Properties, LLC		09-12164		—
Ho Retail Properties II Limited Partnership		09-12165		136
Hocker Oxmoor, LLC		09-12166		775
Hocker Oxmoor Partners, LLC		09-12167		—
Howard Hughes Canyon Pointe Q4, LLC		09-12168		57
Howard Hughes Corporation, The		09-12169		216
Howard Hughes Properties, Inc.		09-12170		450
Howard Hughes Properties, Limited Partnership		09-12171		42
Howard Hughes Properties IV, LLC		09-12172		18
Howard Hughes Properties V, LLC		09-12173		22
HRD Parking, Inc.		09-12174		5
HRD Remainder, Inc.		09-12175		1
Hulen Mall, LLC		09-12176		706
Hughes Corporation, The		09-12177		1
Kapiolani Condominium Development, LLC		09-12178		—
Kapiolani Retail, LLC		09-12179		—
Knollwood Mall, Inc.		09-12180		—
Lakeside Mall Holding, LLC		09-12181		—
Lakeside Mall Property LLC		09-12182		1,138
Lakeview Square Limited Partnership		09-12183		434
Land Trust No. 89433		09-12184		—
Land Trust No. 89434		09-12185		—
Land Trust No. FHB-TRES 200601		09-12186		—
Land Trust No. FHB-TRES 200602		09-12187		—
Landmark Mall L.L.C.		09-12188		394
Lynnhaven Holding L.L.C.		09-12189		—
Lynnhaven Mall L.L.C.		09-12190		1,438
Mall of Louisiana Holding, Inc.		09-12191		—
Mall of Louisiana Land, LP		09-12192		9
Mall of Louisiana Land Holding, LLC		09-12193		—

21

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
Mall of the Bluffs, LLC		09-12194		142
Mall St. Matthews Company, LLC		09-12195		—
Mall St. Vincent, Inc.		09-12196		—
Mall St. Vincent, L.P.		09-12197		378
Mayfair Mall, LLC		09-12198		1,027
MSAB Holdings, Inc.		09-12199		—
MSAB Holdings L.L.C.		09-12200		—
MSM Property L.L.C.		09-12201		923
Natick Retail, LLC		09-12202		—
Newgate Mall Land Acquisition, LLC		09-12203		—
NewPark Mall L.L.C.		09-12204		—
North Plains Mall, LLC		09-12205		24
North Star Anchor Acquisition, LLC		09-12206		1
North Star Mall, LLC		09-12207		1,292
North Town Mall, LLC		09-12208		315
Northgate Mall L.L.C.		09-12209		371
NSMJV, LLC		09-12210		—
Oakwood Hills Mall, LLC		09-12211		768
Oglethorpe Mall L.L.C.		09-12212		851
Oklahoma Mall L.L.C.		09-12213		—
OM Borrower, LLC		09-12214		—
One Willow Company, LLC		09-12215		—
Orem Plaza Center Street, LLC		09-12216		—
Owings Mills Limited Partnership		09-12217		1,318
Park Mall, Inc.		09-12218		—
Park Mall L.L.C.		09-12219		1,137
PDC Community Centers L.L.C.		09-12220		224
PDC-Eastridge Mall L.L.C.		09-12221		663
PDC-Red Cliffs Mall L.L.C.		09-12222		150
Peachtree Mall L.L.C.		09-12223		587
Pecanland Anchor Acquisition, LLC		09-12224		—
Piedmont Mall, LLC		09-12225		312
Pierre Bossier Mall, LLC		09-12226		144
Pine Ridge Mall L.L.C.		09-12227		202
Pioneer Office Limited Partnership		09-12228		511
Pioneer Place Limited Partnership		09-12229		367
Price Development TRS, Inc.		09-12230		—
Price-ASG L.L.C.		09-12231		401
Prince Kuhio Plaza, Inc.		09-12232		—
Providence Place Holdings, LLC		09-12233		—
Redlands Land Acquisition Company L.L.C.		09-12234		—
Redlands Land Acquisition Company, L.P.		09-12235		—
Redlands Land Holding L.L.C.		09-12236		1
Ridgedale Center, LLC		09-12237		1,135
Rio West L.L.C.		09-12238		170
River Falls Mall, LLC		09-12239		48
River Hills Land, LLC		09-12240		—
River Hills Mall, LLC		09-12241		609
Rogue Valley Mall L.L.C.		09-12242		380
Rogue Valley Mall Holding L.L.C.		09-12243		—
The Rouse Company at Owings Mills, LLC		09-12244		—
Rouse Company of Florida, LLC, The		09-12245		—
The Rouse Company of Louisiana, LLC		09-12246		—
The Rouse Company of Michigan, LLC		09-12247		—
The Rouse Company of Minnesota, LLC		09-12248		—
The Rouse Company of Ohio, LLC		09-12249		—
Rouse F.S., LLC		09-12250		—
Rouse Office Management of Arizona, LLC		09-12251		—

22

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
Rouse Providence LLC		09-12252		2,727
Rouse Ridgedale, LLC		09-12253		—
Rouse Ridgedale Holding, LLC		09-12254		—
Rouse Southland, LLC		09-12255		—
Rouse-Arizona Center, LLC		09-12256		—
Rouse-Fairwood Development Corporation		09-12257		—
Rouse-New Orleans, LLC		09-12258		—
Rouse-Oakwood Shopping Center, LLC		09-12259		—
Rouse-Orlando, LLC		09-12260		540
Rouse-Phoenix Cinema, LLC		09-12261		—
Rouse-Phoenix Corporate Center Limited Partnership		09-12262		184
Rouse-Phoenix Development Company, LLC		09-12263		—
Rouse-Portland, LLC		09-12264		—
RS Properties Inc.		09-12265		1,285
Saint Louis Galleria L.L.C.		09-12266		1,462
Saint Louis Galleria Anchor Acquisition, LLC		09-12267		1
Saint Louis Galleria Holding L.L.C.		09-12268		—
Sierra Vista Mall, LLC		09-12269		115
Sikes Senter, LLC		09-12270		419
Silver Lake Mall, LLC		09-12271		66
Sixty Columbia Corporate Center, LLC		09-12272		—
Sooner Fashion Mall L.L.C.		09-12273		426
Southlake Mall L.L.C.		09-12274		825
Southland Center Holding, LLC		09-12275		—
Southland Mall, Inc.		09-12276		—
Southwest Denver Land L.L.C.		09-12277		—
Southwest Plaza L.L.C.		09-12278		301
Spring Hill Mall L.L.C.		09-12279		257
St. Cloud Land L.L.C.		09-12280		—
St. Cloud Mall Holding L.L.C.		09-12281		—
Stonestown Shopping Center L.L.C.		09-12282		—
Stonestown Shopping Center, L.P.		09-12283		1,510
Summerlin Centre, LLC		09-12284		20
Summerlin Corporation		09-12285		—
Three Rivers Mall L.L.C.		09-12286		179
Three Willow Company, LLC		09-12287		—
Town East Mall, LLC		09-12288		848
Tracy Mall, Inc.		09-12289		—
Tracy Mall Partners, L.P.		09-12290		382
Tracy Mall Partners I L.L.C.		09-12291		—
Tracy Mall Partners II, L.P.		09-12292		—
TRC Willow, LLC		09-12293		—
TV Investment, LLC		09-12294		—
Two Arizona Center, LLC		09-12295		122
Two Willow Company, LLC		09-12296		—
Tysons Galleria L.L.C.		09-12297		2,723
U.K.-American Properties, Inc.		09-12298		1,358
Valley Hills Mall, Inc.		09-12299		—
Valley Plaza Anchor Acquisition, LLC		09-12300		—
VCK Business Trust		09-12301		595
Victoria Ward Center L.L.C.		09-12302		158
Victoria Ward Entertainment Center L.L.C.		09-12303		271
Victoria Ward, Limited		09-12304		1,284
Victoria Ward Services, Inc.		09-12305		—
Village of Cross Keys, LLC, The		09-12306		37
Visalia Mall L.L.C.		09-12307		—
Vista Commons, LLC		09-12308		38
Visalia Mall, L.P.		09-12309		237

23

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE V — Continued
SCHEDULE OF TOTAL DISBURSEMENTS BY DEBTOR
(UNAUDITED)

			Disbursements
Legal Entity	Case Number		July 31, 2009
			(In thousands)
Vista Ridge Mall, LLC		09-12310		1,035
VW Condominium Development, LLC		09-12311		—
Ward Gateway-Industrial-Village, LLC		09-12312		134
Ward Plaza-Warehouse, LLC		09-12313		290
Weeping Willow RNA, LLC		09-12314		—
West Kendall Holdings, LLC		09-12315		489
Westwood Mall, LLC		09-12316		214
White Marsh Mall, LLC		09-12317		—
White Mountain Mall, LLC		09-12318		41
Willow SPE, LLC		09-12319		—
Willowbrook II, LLC		09-12320		—
Willowbrook Mall, LLC		09-12321		2,386
Woodbridge Center Property, LLC		09-12322		2,992
Woodlands Mall Associates, LLC, The		09-12323		1,531
10000 Covington Cross, LLC		09-12324		23
10 CCC Business Trust		09-12457		157
20 CCC Business Trust		09-12458		173
30 CCC Business Trust		09-12459		252
Capital Mall L.L.C.		09-12462		281
GGP-Columbiana Trust		09-12464		133
GGP-Gateway Mall L.L.C.		09-12467		441
Grand Traverse Mall Partners, LP		09-12469		692
Greenwood Mall L.L.C.		09-12471		600
Kalamazoo Mall L.L.C.		09-12472		557
Lancaster Trust		09-12473		973
Mondawmin Business Trust		09-12474		1,379
Running Brook Business Trust		09-12475		8
Town Center East Business Trust		09-12476		206
Burlington Town Center II LLC		09-12477		—
GGP-Mall of Louisiana, Inc.		09-12478		—
Stonestown Shopping Center Holding L.L.C.		09-12479		—
Capital Mall, Inc.		09-12480		—
GGP-Gateway Mall, Inc.		09-12481		—
GGP-Mall of Louisiana II, L.P.		09-12482		—
Grand Traverse Mall Holding, Inc.		09-12483		—
Greenwood Mall, Inc.		09-12484		—
Kalamazoo Mall, Inc.		09-12485		—
Parcit-IIP Lancaster Venture		09-12486		—
Parcity L.L.C.		09-12487		—
Parcity Trust		09-12488		—
Park City Holding, Inc.		09-12489		—
PC Lancaster L.L.C.		09-12490		—
PC Lancaster Trust		09-12491		—
			$	166,383

24

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VI
SCHEDULE OF DEBTORS’ OPERATING PROPERTY
AGED TENANT ACCOUNTS RECEIVABLE
(UNAUDITED)

	July 31, 2009
	(In thousands)
Current	$	(23,951)	*
31 — 60 days		9,279
61 — 90 days		942
91 — 120 days		7,529
Over 120 days		53,788
Gross Amount	$	47,587

* In general, reflects tenant rents paid in advance.

25

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII
STATUS OF MORTGAGES PAYABLE FOR DEBTORS

						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			July 31, 2009		Month ended July 31 (b)
						(Dollars in thousands)
Fixed Rate Loans
Secured Asset Loans:
10000 West Charleston		3/1/2011		7.88	%	$	21,772	$	143
1160/80 Town Center		7/15/2013		6.99	%		8,803		51
Ala Moana A1		9/1/2011		5.52	%		750,000		3,566
Ala Moana A2		9/1/2011		5.65	%		750,000		3,650
Augusta Mall		11/11/2011		5.49	%		175,000		827
Baltimore Center Garage Ltd Partnership		6/1/2018		6.05	%		16,092		81
Bay City		12/2/2013		5.30	%		24,120		110
Bayshore		9/1/2011		7.13	%		31,005		184
Beachwood Place		4/7/2011		5.60	%		240,164		1,158
Bellis Fair		2/15/2016		7.34	%		61,586		377
Boise Towne Plaza		7/9/2010		4.70	%		10,921		44
Boise Towne Square		2/10/2011		6.64	%		70,738		404
Brass Mill		4/11/2014		4.55	%		123,593		484
Burlington		7/1/2010		5.03	%		26,000		113
Burlington 2 (b)		7/1/2010		6.30	%		5,500		30
Capital		4/1/2011		7.28	%		20,291		127
Chapel Hills		10/11/2010		5.04	%		115,653		501
Chico Mall		2/11/2009		4.74	%		57,203		233
Collin Creek Mall		7/11/2011		6.78	%		66,997		391
Columbia Mall (MO)		2/1/2013		6.05	%		90,000		469
Coronado		6/7/2010		5.08	%		168,798		738
Corporate Pointe 2 (10650 W. Charleston)		9/11/2012		6.83	%		4,526		27
Corporate Pointe 3 (10750 W. Charleston)		9/11/2012		6.83	%		4,526		27
Country Hills		6/1/2016		6.04	%		13,526		70
Crossroads Center (MN)		7/30/2010		4.73	%		84,306		343
Deerbrook		3/2/2009		3.46	%		73,964		220
Eagle Ridge		10/12/2015		5.41	%		47,578		222
Eastridge (CA)		9/1/2011		5.79	%		170,000		847
Eastridge (WY )		12/5/2011		5.08	%		39,162		171
Eden Prairie		4/1/2011		4.67	%		79,828		321
Fallbrook		6/3/2013		6.14	%		85,000		449
Faneuil Hall		4/1/2013		5.57	%		94,122		451
Fashion Place		10/5/2010		5.30	%		144,483		660
Four Seasons		12/11/2013		5.60	%		100,429		484
Fox River		12/3/2012		5.96	%		195,000		1,001
Gallery at Harborplace 1 (Baltimore Center Land, Garage & Office)		12/1/2010		7.89	%		49,387		336
Gallery at Harborplace 2 (Baltimore Center Land, Garage & Office)		12/1/2010		7.03	%		3,200		19
Gallery at Harborplace 3 (Baltimore Center Land, Garage & Office)		12/1/2010		7.49	%		5,100		33
Gallery at Harborplace 4 (Baltimore Center Land, Garage & Office)		12/1/2010		7.93	%		2,200		15
Gallery at Harborplace 5 (Baltimore Center Land, Garage & Office)		12/1/2010		8.89	%		4,705		36
Gateway		4/1/2011		7.28	%		39,767		249
Gateway Overlook		3/1/2013		5.78	%		55,000		274
Glenbrook		7/1/2010		4.91	%		177,235		750
Grand Canal Shoppes		5/1/2009		4.78	%		393,754		1,621
Grand Traverse		10/1/2012		5.02	%		85,302		368
Greenwood		4/1/2011		7.28	%		44,647		280
Harborplace		10/5/2012		5.79	%		50,000		249
Homart I (b)		2/28/2013		5.95	%		245,115		1,256
Hulen Mall		12/7/2011		5.03	%		113,021		490
Ivanhoe Capital (b)		12/3/2012		5.74	%		93,713		463
Jordan Creek		3/2/2009		4.57	%		185,950		731
JP Comm Jr. Gateway Crossing		7/9/2010		4.70	%		15,234		62
JP Comm Jr. Univ. Crossing		7/9/2010		4.70	%		11,373		46
JP Comm Sr. Austin Bluffs		4/9/2009		4.40	%		2,288		9
JP Comm Sr. Division Crossing		4/9/2009		4.40	%		5,273		20
JP Comm Sr. Fort Union		4/9/2009		4.40	%		2,753		10
JP Comm Sr. Halsey Crossing		4/9/2009		4.40	%		2,581		10
JP Comm Sr. Orem Plaza Center St		4/9/2009		4.40	%		2,460		9
JP Comm Sr. Orem Plaza State St		4/9/2009		4.40	%		1,523		6
JP Comm Sr. Riverpointe Plaza		4/9/2009		4.40	%		3,811		14
JP Comm Sr. Riverside Plaza		4/9/2009		4.40	%		5,454		21
JP Comm Sr. Woodlands Village		4/9/2009		4.40	%		6,968		26
Knollwood		10/12/2015		5.35	%		39,942		184
Lakeside Mall		12/1/2009		4.28	%		180,302		665
Lakeview Square		3/1/2016		5.81	%		41,334		207
Lansing I		1/15/2010		9.35	%		24,144		194
Lincolnshire Commons		4/1/2013		5.98	%		28,000		144

26

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS

						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			July 31, 2009		Month ended July 31 (b)
						(Dollars in thousands)
Lynnhaven		7/6/2010		5.05	%		236,988		1,031
Maine		6/11/2010		4.84	%		216,295		901
Mall of Louisiana Mezz (b)		4/1/2011		6.40	%		62,343		344
Mall of Louisiana Note A		4/1/2011		5.46	%		118,469		557
Mall of Louisiana Note B		4/1/2011		5.92	%		54,362		277
Mall St Matthews Ltd Partnership		1/4/2010		4.81	%		144,565		598
Mall St Vincent		7/7/2014		6.30	%		49,000		266
Market Place		2/1/2013		6.05	%		106,000		552
Moreno Valley		9/11/2013		5.96	%		87,402		448
Newgate		10/1/2010		4.84	%		40,991		171
Newpark		2/1/2011		7.45	%		68,201		438
North Point		3/1/2011		5.48	%		215,691		1,018
North Star		1/4/2010		4.43	%		232,570		887
Northgate		9/1/2016		5.88	%		45,025		228
Northridge Fashion		7/1/2011		7.24	%		126,403		763
Oglethorpe		7/2/2012		4.89	%		141,375		595
Oviedo		5/7/2012		5.12	%		51,819		228
Oxmoor		6/3/2013		6.85	%		56,922		336
Park City Note A		10/1/2010		4.74	%		120,029		490
Park City Note B		10/1/2010		7.10	%		29,206		178
Park Place		1/11/2010		5.15	%		176,443		782
Peachtree		6/1/2010		5.08	%		89,590		392
Pecanland		3/1/2010		4.28	%		57,838		213
Piedmont		9/6/2016		5.98	%		33,911		175
Pine Ridge		12/5/2011		5.08	%		26,404		116
Pioneer Place Limited Partners Land		4/27/2010		10.00	%		335		3
Prince Kuhio		4/1/2009		3.45	%		37,826		112
Providence Place 2		3/11/2010		5.03	%		258,525		1,119
Providence Place 3 (b)		3/11/2010		5.12	%		59,529		262
Providence Place 4 (b)		3/11/2010		5.93	%		39,044		200
Providence Place Pilot A1		7/1/2016		7.75	%		25,121		162
Providence Place Pilot A2		6/30/2028		7.75	%		22,253		144
Red Cliffs		12/5/2011		5.08	%		25,095		110
Regency Square		7/1/2010		3.59	%		93,790		290
Ridgedale		4/1/2010		4.86	%		178,194		746
River Hills		6/3/2013		6.14	%		80,000		423
RiverTown Junior Loan (b)		7/1/2011		9.15	%		15,788		120
RiverTown Senior Loan		7/1/2011		7.29	%		102,111		620
Rogue Valley		12/31/2010		7.85	%		26,347		178
Sikes Senter		6/1/2012		5.20	%		61,381		275
Sooner Fashion		6/3/2013		6.14	%		60,000		317
Southlake		12/5/2017		6.44	%		100,000		554
Southland		3/2/2009		3.62	%		81,477		254
Southland (RSE)		3/5/2010		4.97	%		108,788		466
St. Louis Galleria		7/5/2010		4.86	%		237,412		993
Staten Island 1		10/1/2010		5.09	%		85,000		373
Staten Island 2		10/1/2010		8.15	%		70,616		496
Staten Island 3		10/1/2010		5.61	%		125,000		584
Steeplegate		7/31/2009		4.94	%		77,889		331
Stonestown Note A		9/1/2011		5.55	%		155,600		744
Stonestown Note B		9/1/2011		6.04	%		60,000		312
Stonestown Mezz (b)		9/1/2011		6.18	%		57,400		306
The Boulevard		7/1/2013		4.27	%		107,630		396
The Crossroads (MI)		6/1/2009		7.40	%		39,791		254
The Woodlands Note A		6/13/2011		5.91	%		185,000		942
The Woodlands Note B		6/13/2011		5.91	%		55,000		280
Three Rivers		12/5/2011		5.08	%		21,497		94
Town East		4/13/2009		3.46	%		105,182		314
Tucson Mall		10/11/2033		4.26	%		119,627		439
Tysons Galleria		9/12/2011		5.72	%		255,000		1,257
Valley Hills		3/5/2014		4.73	%		56,851		231
Valley Plaza		7/11/2012		3.90	%		95,268		320
Victoria Ward (Village/Industrial/Gateway)		10/1/2011		5.61	%		88,500		428
Victoria Ward (Warehouse/Plaza)		10/6/2011		5.52	%		68,500		326
Village of Cross Keys		7/31/2009		7.04	%		10,257		60
Visalia		1/11/2010		3.78	%		41,595		135
Vista Ridge		4/11/2011		6.87	%		80,351		460
Ward Centre & Ward Entertainment		1/4/2010		4.33	%		58,294		217
Washington Park		4/1/2014		5.35	%		12,099		56
West Valley		4/1/2010		3.43	%		56,436		167
White Marsh		9/1/2012		5.62	%		187,000		876
Willowbrook Mall		7/1/2011		6.82	%		158,587		932
Woodbridge Corporation		6/1/2009		4.24	%		207,934		760

27

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS

						Total Debt Balance			Interest Expense
Property	Maturity Date		Rate (a)			July 31, 2009			Month ended July 31 (b)
						(Dollars in thousands)
Unsecured Asset Loans:
GGPLP/GGPLPLLC Exchangable Debt (b)		4/15/2012		3.98	%		1,550,000			5,312
Public Indenture — Company Debt (b)		9/17/2012		7.20	%		400,000			2,400
Public Indenture — Senior Bond (b)		3/16/2009		3.63	%		395,000			1,193
Public Indenture 100 (b)		11/26/2013		5.38	%		100,000			448
Public Indenture 350 (b)		11/26/2013		5.38	%		350,000			1,568
Public Indenture Senior Note (b)		4/30/2009		8.00	%		200,000			1,333
Rouse Senior Notes (b)		5/1/2013		6.75	%		800,000			4,500
Fixed Rate Debt							16,529,984			75,947
Variable Rate Loans
Secured Asset Loans:
Bank Note — Animas Valley		7/11/2013		2.56	%		35,054			77
Bank Note — Birchwood Mall		7/11/2013		2.56	%		44,308			98
Bank Note — Cache Valley		7/11/2013		2.56	%		28,043			62
Bank Note — Colony Square		7/11/2013		2.56	%		25,239			56
Bank Note — Columbiana		7/11/2013		2.56	%		105,441			232
Bank Note — Fallen Timbers		7/11/2013		2.56	%		42,401			93
Bank Note — Foothills		7/11/2013		2.56	%		50,758			112
Bank Note — Grand Teton		7/11/2013		2.56	%		48,795			108
Bank Note — Mall at Sierra Vista		7/11/2013		2.56	%		23,556			52
Bank Note — Mall of the Bluffs		7/11/2013		2.56	%		35,951			79
Bank Note — Mayfair		7/11/2013		2.56	%		274,932			606
Bank Note — Mondawmin		7/11/2013		2.56	%		84,689			187
Bank Note — North Plains		7/11/2013		2.56	%		10,656			23
Bank Note — North Town Mall		7/11/2013		2.56	%		114,976			253
Bank Note — Oakwood		7/11/2013		2.56	%		75,772			167
Bank Note — Owings Mills		7/11/2013		2.56	%		53,281			117
Bank Note — Pierre Bossiere		7/11/2013		2.56	%		40,382			89
Bank Note — Pioneer Place		7/11/2013		2.56	%		156,764			345
Bank Note — Salem Center		7/11/2013		2.56	%		41,728			92
Bank Note — Silver Lake Mall		7/11/2013		2.56	%		18,228			40
Bank Note — Southwest Plaza		7/11/2013		2.56	%		96,187			212
Bank Note — Spring Hill		7/11/2013		2.56	%		68,088			150
Bank Note — Westwood Mall		7/11/2013		2.56	%		24,117			53
Bank Note — White Mountain		7/11/2013		2.56	%		10,656			23
Fashion Show		3/15/2009		6.31	%		645,918			3,510
Oakwood Center		3/16/2009		1.80	%		95,000			147
Palazzo		3/15/2009		6.31	%		249,623			1,356
Unsecured Asset Loans:
DIP (c)		3/16/2011		13.50	%		400,000			4,650
GGPLP/GGPLPLLC Revolver (b)		2/24/2010		1.56	%		590,000			792
GGPLP/GGPLPLLC Senior Term (b)		2/24/2010		1.56	%		1,987,500			2,668
TRUPS (b)(d)		4/30/2036		2.49	%		206,200			442
Variable Rate Debt							5,684,243			16,891
Total Filing Entity Debt						$	22,214,227	(e)	$	92,838

(a)	Reflects the variable contract rate as of July 31, 2009.
(b)	All amounts for current period were paid as scheduled, except where noted (b).
(c)	Loan obtained in May 2009.
(d)	Junior subordinated notes of GGPLP purchased by GGP Capital Trust I, a Non-Debtor Delaware statutory trust and wholly-owned subsidiary of GGPLP, with proceeds from the sale of trust preferred securities.
(e)	Excludes liabilities to special improvement districts, discount on GGPLP/GGPLPLLC Exchangable Debt and purchase accounting mark-to-market adjustments.

28

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE VIII
CHAPTER 11 RETAINED PROFESSIONALS DETAIL

	Period Expense		Cash Paid		Expense		Cash Paid
	Month ended		Month ended		Cumulative Post-Petition		Cumulative Post-Petition
Name	July 31, 2009		July 31, 2009		period Ended July 31, 2009		period Ended July 31, 2009
	(In thousands)
Akin Gump Strauss Hauer & Feld, LLP	$	2,100	$	—	$	6,221	$	—
AlixPartners, LLP		1,215		—		4,284		—
Assessment Technologies		29		—		29		—
Baker & Daniels LLP		—		—		—		—
Bracewell Giuliani		186		—		186		—
Calvo & Clark LLP		—		—		—		—
Cushman & Wakefield		537		—		537		—
Deloitte & Touche LLP		1,049		—		1,862		—
Deloitte Tax LLP		172		—		172		—
Epiq Solutions		—		—		—		—
Ernst & Young LLP		244		—		244		—
FTI Consulting		234		—		702		—
Grant Thornton		10		—		10		—
Hewitt Associates		355		—		355		—
Jenner & Block		—		—		308		—
Kutzman Carson Consultants LLC		536		—		2,621		—
Kirkland & Ellis LLP		1,658		1,951		5,735		1,951
Miller Buckfire & Co LLC		329		—		1,043		—
PricewaterhouseCoopers		16		—		16		—
Silverstein & Pomerantz LLP		—		—		—		—
Weil, Gotshal & Manges LLP		3,535		—		13,136		29
Total	$	12,205	$	1,951	$	37,461	$	1,980
Professional Fees Summary (See Note 7)
Restructuring Costs	$	10,984	$	1,951	$	35,427	$	1,980
General & Administrative		1,221		—		2,034		—
Total	$	12,205	$	1,951	$	37,461	$	1,980

29

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)

SCHEDULE IX
Non-Noticed Asset Conveyances
and Authorized De Minimis Sales for
the Month Ended July 30, 2009

Debtor	Property	Date and Transaction Description	Counterparty	Consideration
				(In thousands)
GGP Kapiolani Development LLC	Ala Moana (Honolulu, HI)	7/16/2009 — Water pipeline easement	City of County of Honolulu and Board of Water Supply	$	—
GGP-Maine Mall L.L.C.	The Maine Mall (South Portland, ME)	7/24/2009 — License for recreational trail	South Portland Land Trust Inc.		—
GGP Natick Residence LLC	Condominium Unit- 52 Silver Hill Lane #23 (Natick, MA)	7/30/2009- Condominium Unit Sale	Christopher F. Geoff		131
GGP Natick Residence LLC	Condominium Unit- 10 Village Hill Lane #1 (Natick, MA)	7/30/2009- Condominium Unit Sale	Jenna L. Gorzynski		126
GGP Natick Residence LLC	Condominium Unit- 2 Village Way #5 (Natick, MA)	7/30/2009- Condominium Unit Sale	Melissa L. Paradis		126
GGP Natick Residence LLC	Condominium Unit- 34 Silver Hill Lane #5 (Natick, MA)	7/30/2009- Condominium Unit Sale	Ashleen R. Ryan		125
GGP Natick Residence LLC	Condominium Unit- 18 Walden drive #12 (Natick, MA)	7/30/2009- Condominium Unit Sale	Dianne J. Whalen		156
GGP Natick Residence LLC	Condominium Unit- 3 Thoreau Court #11 (Natick, MA)	7/31/2009- Condominium Unit Sale	Kathryn J. Sullivan		115
GGP Natick Residence LLC	Condominium Unit- 15 Village Hill Lane #5 (Natick, MA)	7/31/2009- Condominium Unit Sale	Michael M. Landers		115
GGP Natick Residence LLC	Condominium Unit- 3 Village Rock Lane #5 (Natick, MA)	7/31/2009- Condominium Unit Sale	Michael A. Franciose		115
GGP Natick Residence LLC	Condominium Unit- 10 Squire Court #6 (Natick, MA)	7/31/2009- Condominium Unit Sale	Irna Svinolobova		125
Howard Hughes Properties, Inc	Summerlin (Las Vegas, NV)	7/24/2009- Right of Entry to maintain communication and electrical facilities	Nevada Power Company, d/b/a NV Energy		—
Spring Hill Mall, L.L.C.	Spring Hill Mall (West Dundee, IL)	6/30/2009 — Easement to install and maintain lighting fixtures required by the City of West Dundee along Elm Avenue/Ring Road	Wal-Mart Real Estate Business Trust		—
Victoria Ward Center LLC	Ward Center (Honolulu, HI)	7/16/2009 — Traffic signal and pedestrian access easements	City and County of Honolulu		—
Victoria Ward, Limited	Victoria Ward Property (Honolulu, HI)	7/15/2009 — Easement for electrical transformers	Hawaii Electric Company		29
GGP Homart, Inc.	Southwest Corner Hennepin Drive and Essington Road (Joliet, IL)	7/30/2009 — The City of Joliet presented a proposal, in lieu of condemnation, to purchase a portion of the property and acquire easements needed for highway construction. This is last parcel of property owned by Debtor at this location. Significant portions of the property are encumbered by a drainage ditch and the property is not developable. Debtor determined that the best course of action was to convey the entire parcel to the City to eliminate future maintenance responsibilities and potential liability	City of Joliet		17

30

GENERAL GROWTH PROPERTIES, INC.
Combined Debtors Monthly Operating Report
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: July 2009
SCHEDULE X
DEBTORS QUESTIONNAIRE*

		Yes			No
1	Have any assets been sold or transferred outside the normal course of business this reporting period?					X
2	Have any funds been disbursed from any account other than a debtor in possession account this reporting period?					X
3	Is the Debtor delinquent in the timely filing of any post-petition tax returns?					X
4	Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?					X
5	Is the Debtor delinquent in paying any insurance premium payment?					X
6	Have any payments been made on pre-petition liabilities this reporting period?		X	(1)
7	Are any post petition receivables (accounts, notes or loans) due from related parties?		X	(2)
8	Are any post petition payroll taxes past due?					X
9	Are any post petition State or Federal income taxes past due?					X
10	Are any post petition real estate taxes past due?					X
11	Are any other post petition taxes past due?					X
12	Have any pre-petition taxes been paid during this reporting period?		X	(3)
13	Are any amounts owed to post petition creditors delinquent?					X
14	Are any wage payments past due?					X
15	Have any post petition loans been received by the Debtor from any party?		X	(4)
16	Is the Debtor delinquent in paying any U.S. Trustee fees?					X
17	Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?					X
18	Have the owners or shareholders received any compensation outside of the normal course of business?					X

*	Unless otherwise indicated, answer is for the combined group of Debtors (see Note 1).
(1)	An aggregate of $8.3 million has been paid by or on behalf of the Debtors with respect to pre-petition liabilities as approved by the Bankruptcy Court. Such disbursements have been for employee salaries, commissions and reimbursements, taxes to government entities and for other services rendered pre-petition.
(2)	There was not a significant change in the aggregate Debtors intercompany accounts with affiliated Non-Debtors as of July 31, 2009 compared to June 30, 2009.
(3)	Included in the amounts reported in (1) above are payments of taxes of $1.2 million.
(4)	As previously described in Note 6 of Monthly Operating Report filed on June 30, 2009 for the period ended May 31, 2009, which description is incorporated into this response by reference, the DIP Term Loan of $400 million was funded on May 15, 2009.

31