Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: August 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: September 30, 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 August 31, 2009
Index
Combined Condensed Statements of Income and Comprehensive Income for the Month Ended August 31, 2009 and Cumulative Post-Petition Period Ended August 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		7
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 Combined Condensed Statement of Income and Comprehensive Income for the Month Ended August 31, 2009		11
Schedule II Schedule of Combined Condensed Balance Sheet as of August 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		20
Schedule VI Schedule of Debtors’ Operating Property Aged Tenant Accounts Receivable		30
Schedule VII Status of Mortgages Payable For Debtors		31
Schedule VIII Chapter 11 Retained Professionals Detail		34
Schedule IX Schedule of Non-Noticed and De Minimis Asset Sales		35
Schedule X Debtors Questionnaire		36

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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
	August 31, 2009			Period Ended August 31, 2009
	(In thousands, except for
	per share amounts)
Revenues:
Minimum rents	$	139,408		$	625,526
Tenant recoveries		59,626			279,399
Overage rents		3,021			10,137
Land sales		639			2,549
Other		5,686			25,376
Total revenues		208,380			942,987
Expenses:
Real estate taxes		18,580			86,907
Repairs and maintenance		15,645			65,148
Marketing		1,976			9,021
Ground and other rents		965			5,105
Other property operating costs		28,725			124,457
Land sales operations		1,427			5,766
Provision for doubtful accounts		257			8,096
Property management and other costs		11,209			35,672
General and administrative		3,752			35,686
Provisions for impairment		76			79,929
Depreciation and amortization		51,684			234,118
Total expenses		134,296			689,905
Operating income		74,084			253,082
Interest (expense) income, net		(95,806	)		(436,374	)
Loss before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(21,722	)		(183,292	)
Provision for income taxes		1,376			(1,218	)
Equity in income of Real Estate Affiliates		7,064			32,836
Reorganization items		(9,318	)		(44,133	)
Net loss		(22,600	)		(195,807	)
Allocation to noncontrolling interests		(596	)		(888	)
Net loss attributable to common stockholders	$	(23,196	)	$	(196,695	)
Basic and Diluted Loss Per Share:	$	(0.07	)	$	(0.63	)
Dividends declared per share		—			—
Comprehensive Loss, Net:
Net loss attributable to common stockholders	$	(23,196	)	$	(196,695	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		2,800			8,257
Accrued pension adjustment		180			403
Foreign currency translation		6,170			33,649
Unrealized losses on available-for-sale securities		—			87
Other comprehensive income, net		9,150			42,396
Comprehensive loss attributable to common stockholders	$	(14,046	)	$	(154,299	)

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

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

COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)

	August 31, 2009
	(Dollars in thousands)
Assets:
Investment in real estate:
Land	$	2,946,905
Buildings and equipment		19,495,558
Less accumulated depreciation		(3,970,212	)
Developments in progress		868,408
Net property and equipment		19,340,659
Investment in and loans to/from Unconsolidated Real Estate Affiliates		385,916
Investment property and property held for development and sale		1,108,401
Investment in controlled non-debtor entities		3,681,002
Net investment in real estate		24,515,978
Cash and cash equivalents		577,038
Accounts and notes receivable, net		327,906
Goodwill		211,540
Deferred expenses, net		248,870
Prepaid expenses and other assets		566,597
Total assets	$	26,447,929
Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		31,966
Deferred tax liabilities		892,277
Accounts payable and accrued expenses		708,953
Liabilities not subject to compromise		2,033,196
Liabilities subject to compromise		22,291,377
Total liabilities		24,324,573
Redeemable noncontrolling interests:
Preferred		120,756
Common		37,262
Total redeemable noncontrolling interests		158,018
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, 313,813,107 shares issued as of August 31, 2009		3,138
Additional paid-in capital		3,793,011
Retained earnings (accumulated deficit)		(1,745,279	)
Accumulated other comprehensive loss		(22,426	)
Less common stock in treasury, at cost, 1,449,939 shares as of August 31, 2009		(76,752	)
Total stockholder’s equity		1,951,692
Noncontrolling interests in consolidated real estate affiliates		13,646
Total equity		1,965,338
Total liabilities and equity	$	26,447,929

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

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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 the Monthly Operating Report filed on June 30, 2009 for the period ended May 31, 2009 (the “May MOR”). 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 May MOR. Recently, the Company filed statements of financial affairs and schedules of assets and liabilities for each Debtor entity. 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,

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

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 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 (“GAAP”) 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 the specialized accounting guidance for entities in reorganization under the Bankruptcy Code. 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, such specialized guidance provides that 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). Therefore, the interest expense and amortization of deferred finance cost related to the DIP facility, which were previously reflected as reorganization items, have been presented as interest expense.

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 (except to the extent such bearers are between taxable and non-taxable entities), 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.

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

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.

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 intercompany 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 August 31, 2009, the aggregate cumulative post-petition intercompany amounts due (to) from GGPLP were $298.5 million. In addition, as of September 22, 2009, the aggregate amount held in the combined GGPLP cash account upon which the first-lien holders have such lien rights was approximately $302.8 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:

	August 31, 2009
	(In thousands)
Below-market ground leases	$	183,585
Prepaid expenses		83,046
Real estate tax stabilization agreement		72,915
Receivables — finance leases and bonds		71,840
Special Improvement District receivable		48,596
Security and escrow deposits		44,099
Above-market tenant leases		26,768
Deferred tax		17,924
Other		17,824
Total prepaid expenses and other assets	$	566,597

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

	August 31, 2009
	(In thousands)
Utility and other security deposits	$	28,191
Operating funds — restricted		5,939
Construction/major maintenance reserves		4,236
Collateralized letters of credit and other credit support		1,907
Real estate tax escrows		455
Other miscellaneous escrows		3,371
Total security and escrow deposits	$	44,099

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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 August 31, 2009, as payment of any of such obligations are limited or precluded by the operation of Chapter 11 (see Schedule X).

	August 31, 2009
	(In thousands)
Accounts payable and accrued expenses	$	291,230
Accrued interest		280,541
Construction payable		165,876
FIN 48 liability		133,025
Accrued real estate taxes		84,181
Deferred gains/income		78,777
Hughes accrued participation		70,465
Accrued payroll and other employee liabilities		62,556
Below-market tenant leases		60,737
Unapplied cash receipts		36,226
Additional purchase price for The Palazzo		26,614
FIN 47 liability		20,513
Tenant and other deposits		18,583
Insurance reserve		16,710
Nouvelle at Natick deferred revenue		13,971
Above-market ground leases		13,610
Capital lease obligations		8,039
Derivative financial instruments		1,993
Accounts payable to affiliates		(89,511	)
Other		39,514
Total accounts payable and accrued expenses		1,333,650
Less: amounts not subject to compromise		(708,953	)
Total accounts payable and accrued expenses subject to compromise	$	624,697

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

	(In thousands)
Mortgages and secured notes	$	15,842,093
Unsecured notes		5,824,587
Accounts payable and accrued expenses		624,697
Total liabilities subject to compromise	$	22,291,377

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), only one such contract, that of an unexpired lease of office space that was no longer occupied by the Debtors, has been rejected as of August 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.

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	August 31, 2009		August 31, 2009
	(In thousands)
Insider compensation	$	1,411	$	5,751
Professional fees*		1,357		26,215
Public Company expense		355		1,425
Travel and entertainment		17		76
Fees, insurance and other		612		2,219
Total general and administrative	$	3,752	$	35,686

* This amount includes 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)	August 31, 2009			August 31, 2009
	(In thousands)
Gains on liabilities subject to compromise (1)	$	—		$	(3,886	)
Interest income (2)		(5	)		(19	)
U.S. Trustee fees (3)		345			2,285
Restructuring costs — Chapter 11 Retained Professionals (4)		7,665			42,485
Restructuring costs — other professional fees (5)		1,313			3,268
Total reorganization items	$	9,318		$	44,133

(1)	This amount primarily includes repudiation, rejection or termination of contracts or guarantee of obligations. At August 31, 2009, such gains reflect agreements reached with certain critical vendors (as defined in certain of the Chapter 11 pleadings), which have beenratified 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. Certain of the retained professionals have agreements that provide for success or completion fees that are payable upon the consummation of certain restructuring or sale transactions. These fees are not currently being accrued, but may be accrued in future months if the payment of such fees is determined to be probable.
(5)	These fees relate to costs incurred by the Debtors for services rendered by non-attorney, non-core Chapter 11 professionals.

10

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

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

	Month Ended August 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands, except for per share amounts)
Revenues:
Minimum rents	$	136,634		$	2,774		$	139,408
Tenant recoveries		59,626			—			59,626
Overage rents		3,021			—			3,021
Land sales		639			—			639
Other		5,759			(73	)		5,686
Total revenues		205,679			2,701			208,380
Expenses:
Real estate taxes		18,580			—			18,580
Repairs and maintenance		15,645			—			15,645
Marketing		1,976			—			1,976
Ground and other rents		900			65			965
Other property operating costs		28,762			(37	)		28,725
Land sales operations		1,427			—			1,427
Provision for doubtful accounts		257			—			257
Property management and other costs		8,467			2,742			11,209
General and administrative		3,821			(69	)		3,752
Provisions for impairment		76			—			76
Depreciation and amortization		51,684			—			51,684
Total expenses		131,595			2,701			134,296
Operating income		74,084			—			74,084
Interest (expense) income, net		(96,006	)		200			(95,806	)
(Loss) income before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(21,922	)		200			(21,722	)
Provision for income taxes		1,376			—			1,376
Equity in income of Real Estate Affiliates		6			7,058			7,064
Reorganization items		(9,318	)		—			(9,318	)
Net (loss) income		(29,858	)		7,258			(22,600	)
Allocation to noncontrolling interests		(960	)		364			(596	)
Net (loss) income attributable to common stockholders	$	(30,818	)	$	7,622		$	(23,196	)
Basic and Diluted Earnings Per Share:	$	(0.10	)	$	0.02		$	(0.07	)
Comprehensive (Loss) Income, Net:
Net (loss) income attributable to common stockholders	$	(30,818	)	$	7,622		$	(23,196	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		2,867			(67	)		2,800
Accrued pension adjustment		185			(5	)		180
Foreign currency translation		6,318			(148	)		6,170
Other comprehensive income (loss), net		9,370			(220	)		9,150
Comprehensive (loss) income  attributable to common stockholders	$	(21,448	)	$	7,402		$	(14,046	)

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

11

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

SCHEDULE II
COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)

	Month Ended August 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands)
Assets:
Investment in real estate:
Land	$	2,946,905		$	—		$	2,946,905
Buildings and equipment		19,495,558			—			19,495,558
Less accumulated depreciation		(3,970,212	)		—			(3,970,212	)
Developments in progress		868,667			(259	)		868,408
Net property and equipment		19,340,918			(259	)		19,340,659
Investment in and loans to/from Unconsolidated Real Estate Affiliates		606,033			(220,117	)		385,916
Investment property and property held for development and sale		1,108,401			—			1,108,401
Investment in controlled non-debtor entities		16,442,592			(12,761,590	)		3,681,002
Net investment in real estate		37,497,944			(12,981,966	)		24,515,978
Cash and cash equivalents		568,515			8,523			577,038
Accounts and notes receivable, net		327,906			—			327,906
Goodwill		211,540			—			211,540
Deferred expenses, net		248,870			—			248,870
Prepaid expenses and other assets		588,838			(22,241	)		566,597
Total assets	$	39,443,613		$	(12,995,684	)	$	26,447,929
Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000		$	—		$	400,000
Investment in and loans to/from Unconsolidated Real Estate Affiliates		31,966			—			31,966
Deferred tax liabilities		892,277			—			892,277
Accounts payable and accrued expenses		748,849			(39,896	)		708,953
Total liabilities not subject to compromise		2,073,092			(39,896	)		2,033,196
Liabilities subject to compromise		22,687,060			(395,683	)		22,291,377
Total liabilities		24,760,152			(435,579	)		24,324,573
Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		23,254			14,008			37,262
Total redeemable noncontrolling interests		144,010			14,008			158,018
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, 313,813,107 shares issued as of August 31, 2009		3,138			—			3,138
Additional paid-in capital		9,576,780			(5,783,769	)		3,793,011
Retained earnings (accumulated deficit)		5,045,595			(6,790,874	)		(1,745,279	)
Accumulated other comprehensive loss		(22,956	)		530			(22,426	)
Less common stock in treasury, at cost, 1,449,939 shares as of August 31, 2009		(76,752	)		—			(76,752	)
Total stockholder’s equity		14,525,805			(12,574,113	)		1,951,692
Noncontrolling interests in consolidated real estate affiliates		13,646			—			13,646
Total equity		14,539,451			(12,574,113	)		1,965,338
Total liabilities and equity	$	39,443,613		$	(12,995,684	)	$	26,447,929

The accompanying notes are an integral part of these combined condensed 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 August 31, 2009

	Employee Payroll	Employer Payroll
Gross Wage Expense	Taxes Withheld (a)	Taxes Remitted (b)
(In thousands)
$16,613	$3,631	$965

(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 August 28, 2009.

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

			Amounts Paid
	Amount Accrued		Month Ended
	August 31, 2009		August 31, 2009
	(In thousands)
Federal and state income taxes	$	3,380	$	—
State and local taxes:
Property *		84,181		28,643
Sales and use		1,433		473
Franchise		2,033		—
Other		59		—
Total state and local taxes		87,706		29,116
Total taxes	$	91,086	$	29,116

* 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	August 31, 2009		August 31, 2009
	(In thousands)
10 COLUMBIA CORPORATE CENTER	$	—	$	—
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		—		—
30 COLUMBIA CORPORATE CENTER		—		—
40 COLUMBIA CORPORATE CENTER		—		38
4848 OUTPARCEL		32		—
50 COLUMBIA CORPORATE CENTER		—		—
60 COLUMBIA CORPORATE CENTER		—		—
9901/21 COVINGTON CROSS		—		27
9950/80 COVINGTON CROSS		—		27
ALA MOANA BUILDING		—		258
ALA MOANA CENTER		3,038		5,352
ALA MOANA PACIFIC CENTER		—		334
ALA MOANA PLAZA		—		53
ALA MOANA-KAPIOLANI PROPERTIES		—		434
ALA MOANA-KONA STREET		—		12
ALAMEDA PLAZA		121		—
ANIMAS VALLEY MALL		156		—
ARIZONA CENTER		114		—
ARIZONA CENTER ARIZONA CENTER ONE		393		—
ARIZONA CENTER ARIZONA CENTER TWO		388		—
ARIZONA CENTER CINEMA		21		—
ARIZONA CENTER GARDEN OFFICE		29		—
ARIZONA CENTER OFFICE		55		—
ARIZONA CENTER PARKING		102		—
AUGUSTA MALL		461		—
AUGUSTA MALL ANCHOR ACQ		230		—
AUSTIN BLUFFS PLAZA		33		—
BAILEY HILL		3		—
BASKIN ROBBINS		4		—
BAYSHORE MALL		80		33
BEACHWOOD PLACE		2,387		—
BELLIS FAIR		102		—
BIRCHWOOD MALL		—		14
BOISE TOWN SQUARE ANCHOR ACQ		50		—

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	August 31, 2009		August 31, 2009
	(In thousands)
BOISE TOWNE PLAZA		140		—
BOISE TOWNE SQUARE		1,198		—
BRASS MILL CENTER		—		—
BRASS MILL COMMONS		—		—
BURLINGTON TOWN CENTER		—		142
BURLINGTON TOWN CENTER OFFICE		—		26
CACHE VALLEY MALL		191		—
CACHE VALLEY MARKETPLACE		76		—
CANYON POINT		—		67
CAPITAL MALL		205		—
CENTURY PLAZA		49		—
CHAPEL HILLS MALL		832		—
CHICO MALL		89		—
CHULA VISTA CENTER		130		—
COLLIN CREEK		1,185		—
COLONY SQUARE MALL		256		—
COLUMBIA CENTER-C.A. BUILDING		—		—
COLUMBIA CENTER-EXHIBIT BLDG		—		—
COLUMBIA MALL		374		—
COLUMBIANA CENTER		1,020		—
CORONADO MALL		489		—
CORPORATE POINTE #2		—		25
CORPORATE POINTE #3		—		36
COTTONWOOD MALL		189		—
COTTONWOOD SQUARE		28		—
COUNTRY HILL PLAZA		90		—
CROSSING BUSINESS CENTER #6		—		30
CROSSING BUSINESS CENTER #7		—		61
CROSSROADS CENTER (MN)		484		—
DEERBROOK MALL		965		—
DEERBROOK MALL ANCHOR ACQ		45		—
DIVISION CROSSING		38		—
EAGLE RIDGE MALL		359		—
EASTRIDGE MALL (CA)		684		—
EASTRIDGE MALL (WY)		175		—
EDEN PRAIRIE CENTER		698		—
EDEN PRAIRIE CENTER ANCHOR ACQ		36		—
FALLBROOK CENTER		249		—
FANEUIL HALL MARKETPLACE		—		—
FASHION PLACE		546		—

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	August 31, 2009		August 31, 2009
FASHION PLACE ANCHOR ACQ		57		—
FASHION SHOW		—		798
FOOTHILLS MALL		618		—
FORT UNION		43		—
FOUR SEASONS TOWN CENTRE MALL		—		1,672
FOX RIVER MALL		960		—
FREMONT VILLAGE		—		35
GATEWAY CROSSING SHOPPING CTR		127		—
GATEWAY MALL		160		—
GGPLP-SHARED		1,450		—
GGPLP-VICTORIA WARD		—		—
GLENBROOK SQUARE		5,198		2,317
GLENBROOK SQUARE ANCHOR ACQ		150		—
GRAND TETON MALL		530		—
GRAND TETON PLAZA		120		—
GRAND TRAVERSE MALL		—		—
GREENGATE MALL, INC.		—		—
GREENWOOD MALL		322		—
HALSEY CROSSING		13		—
HARBORPLACE		—		—
HRDLC-BENSON GROUND LESES		—		—
HULEN MALL		1,338		—
JORDAN CREEK TOWN CENTER		5,076		—
KNOLLWOOD MALL		111		—
LAKEMOOR		—		—
LAKESIDE MALL		57		1,271
LAKEVIEW SQUARE		—		617
LANDMARK MALL		81		—
LANSING MALL		78		—
LINCOLNSHIRE COMMONS		279		195
LOCKPORT MALL		20		—
LYNNHAVEN MALL		438		—
MALL AT SIERRA VISTA		314		—
MALL OF LOUISIANA		610		9
MALL OF LOUSIANA POWER CENTER		97		—
MALL OF THE BLUFFS		2,425		—
MALL ST. MATHEWS		531		—
MALL ST. VINCENT		417		—
MARKET PLACE SHOPPING CENTER		1,115		819
MAYFAIR BANK TOWER		205		—

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	August 31, 2009		August 31, 2009
MAYFAIR MALL		2,960		—
MAYFAIR NORTH TOWER		214		—
MAYFAIR PROFESSIONAL		82		—
MAYFAIR-AURORA HEALTH CENTER		195		—
MONDAWMIN MALL		—		—
MORENO VALLEY MALL		103		—
NATICK-NOUVELLE AT NATICK		—		—
NEIGHBORHOOD STORES		—		—
NEWGATE MALL		480		—
NEWPARK MALL		170		84
NEWPARK MALL ANCHOR ACQ		26		—
NORTH PLAINS MALL		39		—
NORTH POINT MALL		1,650		—
NORTH STAR MALL		2,473		—
NORTH STAR MALL ANCHOR ACQ		224		—
NORTH TOWN MALL		195		—
NORTHGATE MALL		432		—
NORTHRIDGE FASHION CENTER		396		—
OAKWOOD CENTER		307		—
OAKWOOD MALL		788		—
OGLETHORPE MALL		245		—
OREM PLAZA CENTER STREET		49		—
OREM PLAZA STATE STREET		23		—
OVIEDO MARKETPLACE		593		—
OWINGS MALL		—		—
OXMOOR MALL		499		—
PARK CITY CENTER		—		3,018
PARK PLACE		818		—
PARK WEST		704		—
PEACHTREE MALL		959		—
PECANLAND MALL		424		—
PECANLAND MALL ANCHOR ACQ		34		—
PIEDMONT MALL		42		—
PIERRE BOSSIER MALL		157		—
PINE RIDGE MALL		303		—
PIONEER PLACE		101		—
PIONEER PLACE LP EXPANSION		107		—
PIONEER TOWER		134		—
PIONEER TOWER GARAGE		17		—
PLAZA 800		—		30

17

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	August 31, 2009			August 31, 2009
	(In thousands)
PLAZA 9400		86			—
PRINCE KUHIO PLAZA		—			251
PROVIDENCE PLACE		33			—
PROVO PLAZA		25			—
RED CLIFFS MALL		198			—
RED CLIFFS PLAZA		40			—
REDLANDS PROMENADE		116			—
REGENCY SQUARE MALL		1,019			—
RIDGEDALE CENTER		590			—
RIDGLEY BUILDING		—			—
RIO WEST MALL		148			—
RIVER FALLS		1,237			—
RIVER HILLS MALL		1,837			—
RIVER POINTE PLAZA		71			—
RIVERLANDS SHOPPING CENTER		39			—
RIVERSIDE PLAZA		97			—
RIVERTOWN CROSSINGS		(6	)		2,298
ROGUE VALLEY MALL		132			—
SAINT LOUIS GALLERIA		2,537			—
SALEM CENTER		90			—
SIKES SENTER		805			—
SILVER LAKE MALL		159			—
SOONER MALL		260			—
SOUTH STREET MARKETPLACE THEAT		160			—
SOUTHLAKE MALL		699			—
SOUTHLAND CENTER (MI)		309			—
SOUTHLAND MALL (CA)		269			—
SOUTHSHORE MALL		22			—
SOUTHWEST OFF CTR I		113			—
SOUTHWEST OFF CTR II		50			—
SOUTHWEST PLAZA		1,519			7
SPRING HILL MALL		1,527			1,104
ST LOUIS GALLERIA ANCH ACQ		51			—
STONESTOWN GALLERIA		597			—
STONESTOWN MEDICAL BUILDING		36			—
THE BOULEVARD MALL		—			177
THE BRIDGES AT MINT HILL		13			—
THE COMMONS AT FOOTHILLS MALL		21			—
THE CROSSROADS (MI)		—			—
THE GALLERY AT HARBORPLACE		—			—

18

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	August 31, 2009		August 31, 2009
	(In thousands)
THE GALLERY AT HARBORPLACE-GARAGE		950		—
THE GALLERY AT HARBORPLACE-OFFICE		—		—
THE GRAND CANAL SHOPPES		—		464
THE MAINE MALL		21		922
THE PINES		175		—
THE PLAZA AT FOOTHILLS MALL		51		—
THE SHOPPES AT THE PALAZZO		25		250
THE SHOPS AT FALLEN TIMBERS		1,244		—
THE SHOPS AT FOOTHILLS MALL		82		—
THE SHOPS AT SUMMERLIN CENTRE		62		81
THE VILLAGE AT REDLANDS		34		—
THE VILLAGE OF CROSS KEYS		—		—
THE WOODLANDS MALL		1,178		—
THE WOODLANDS MALL ANCHOR ACQ		—		—
THHC LAND (WOBU)		—		—
THREE RIVERS MALL		34		—
TOWN EAST MALL		2,610		—
TRCLP		—		—
TUCSON ANCHOR ACQ		41		—
TUCSON ENTERTAINMENT PAVILION		25		—
TUCSON MALL		644		—
TWINS FALLS CROSSINGS		22		—
TYSONS GALLERIA		404		—
UNIVERSITY CROSSING		149		—
VALLEY HILLS MALL		324		—
VALLEY PLAZA MALL		113		91
VICTORIA WARD SHARED OPERATION		186		2,999
VILLAGE AT JORDAN CREEK		1,328		—
VISALIA MALL		76		—
VISTA COMMONS		—		51
VISTA RIDGE MALL		1,382		—
WASHINGTON PARK MALL		112		—
WEST VALLEY MALL		142		—
WESTWOOD MALL		—		—
WHITE MARSH MALL		—		—
WHITE MOUNTAIN MALL		72		—
WILLOWBROOK MALL (NJ)		150		1,746
WOODBRIDGE CENTER		—		—
WOODLANDS VILLAGE		81		—
YELLOWSTONE SQUARE		63		—
	$	84,181	$	28,643

19

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
			Month Ended
Legal Entity	Case Number		August 31, 2009
			(In thousands)
South Street Seaport Limited Partnership		09-11963	$	1,370
Seaport Marketplace, LLC		09-11964		—
Seaport Marketplace Theatre, LLC		09-11965		4
Lockport L.L.C.		09-11966		21
RASCAP Realty, Ltd.		09-11967		—
Bellis Fair Partners		09-11968		877
GGP-Mint Hill L.L.C.		09-11969		—
Pines Mall Partners		09-11970		142
GGP-Grandville L.L.C.		09-11971		3,457
GGP-Grandville II L.L.C.		09-11972		—
GGP-Redlands Mall, L.P.		09-11973		121
La Place Shopping, L.P.		09-11974		13
GGP-Tucson Land L.L.C.		09-11975		2
Tucson Anchor Acquisition, LLC		09-11976		121
General Growth Properties, Inc.		09-11977		78
GGP Limited Partnership		09-11978		40,509
Rouse LLC		09-11979		—
GGP American Properties Inc.		09-11980		—
Caledonian Holding Company, Inc.		09-11981		—
GGPLP L.L.C.		09-11982		1
Rouse Company LP, The		09-11983		2,072
TRC Co-Issuer, Inc.		09-11984		—
Oakwood Shopping Center Limited Partnership		09-11985		408
Alameda Mall Associates		09-11986		497
Bay Shore Mall Partners		09-11987		498
Chico Mall, L.P.		09-11988		301
Lansing Mall Limited Partnership		09-11989		436
GGP-Pecanland, L.P.		09-11990		424
GGP-Pecanland II, L.P.		09-11991		—
Southland Mall, L.P.		09-11992		675
South Shore Partners, L.P.		09-11993		6
Price Financing Partnership, L.P.		09-11994		—
Price GP L.L.C.		09-11995		—
HHP Government Services, Limited Partnership		09-11996		1,061
Ho Retail Properties I Limited Partnership		09-11997		492
New Orleans Riverwalk Associates		09-11998		419
New Orleans Riverwalk Limited Partnership		09-11999		—
White Marsh General Partnership		09-12000		375
White Marsh Mall Associates		09-12001		375
White Marsh Phase II Associates		09-12002		375

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
			Month Ended
Legal Entity	Case Number		August 31, 2009
			(In thousands)
Parke West, LLC		09-12003		258
GGP-Newpark L.L.C.		09-12004		497
Elk Grove Town Center, L.P.		09-12005		46
Baltimore Center Associates Limited Partnership		09-12006		999
Baltimore Center Garage Limited Partnership		09-12007		115
Century Plaza L.L.C.		09-12008		119
Harbor Place Associates Limited Partnership		09-12009		325
Price Development Company, Limited Partnership		09-12010		129
Rouse-Phoenix Theatre Limited Partnership		09-12011		3
Rouse-Arizona Retail Center Limited Partnership		09-12012		550
Rouse-Phoenix Master Limited Partnership		09-12013		—
Saint Louis Land L.L.C.		09-12014		—
Southland Center, LLC		09-12015		1,030
GGP-North Point Land L.L.C.		09-12016		—
Majestic Partners-Provo, LLC		09-12017		1
GGP-Mall of Louisiana, L.P.		09-12018		1,284
NewPark Anchor Acquisition, LLC		09-12019		—
Parkview Office Building Limited Partnership		09-12020		101
Parkside Limited Partnership		09-12021		66
Park Square Limited Partnership		09-12022		102
Rouse SI Shopping Center, LLC		09-12023		3,059
Augusta Mall, LLC		09-12024		1,590
Burlington Town Center LLC, The		09-12025		462
Fashion Show Mall LLC		09-12026		5,663
GGP Ala Moana L.L.C.		09-12027		15,779
GGP Jordan Creek L.L.C.		09-12028		1,242
GGP Village at Jordan Creek L.L.C.		09-12029		25
GGP-Four Seasons L.L.C.		09-12030		2,486
Lincolnshire Commons, LLC		09-12031		362
Phase II Mall Subsidiary, LLC		09-12032		2,316
St. Cloud Mall L.L.C.		09-12033		521
Valley Hills Mall L.L.C.		09-12034		536
GGP Holding, Inc.		09-12035		25
The Rouse Company BT, LLC		09-12036		—
Rouse Company Operating Partnership LP, The		09-12037		—
10000 West Charleston Boulevard, LLC		09-12040		230
10190 Covington Cross, LLC		09-12041		62
1120/1140 Town Center Drive, LLC		09-12042		130
1160/1180 Town Center Drive, LLC		09-12043		79
1201-1281 Town Center Drive, LLC		09-12044		80
1251 Center Crossing, LLC		09-12045		—

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
1450 Center Crossing Drive, LLC	09-12046		44
1451 Center Crossing Drive, LLC	09-12047		70
1551 Hillshire Drive, LLC	09-12048		33
1635 Village Centre Circle, LLC	09-12049		32
1645 Village Center Circle, LLC	09-12050		74
9901-9921 Covington Cross, LLC	09-12051		34
9950-9980 Covington Cross, LLC	09-12052		36
Alameda Mall, L.L.C.	09-12053		—
Apache Mall, LLC	09-12054		278
Arizona Center Parking, LLC	09-12055		57
Augusta Mall Anchor Acquisition, LLC	09-12056		10
Augusta Mall Anchor Holding, LLC	09-12057		—
Augusta Mall Holding, LLC	09-12058		—
Austin Mall Limited Partnership	09-12059		—
Austin Mall, LLC	09-12060		—
Bakersfield Mall, Inc.	09-12061		—
Bakersfield Mall LLC	09-12062		734
Baltimore Center, LLC	09-12063		—
Bay City Mall Associates L.L.C.	09-12064		254
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		1,578
Benson Park Business Trust	09-12069		—
Birchwood Mall, LLC	09-12070		239
Boise Mall, LLC	09-12071		255
Boise Town Square Anchor Acquisition, LLC	09-12072		1
Boise Towne Plaza L.L.C.	09-12073		50
Boulevard Associates	09-12074		962
Boulevard Mall, Inc.	09-12075		—
Boulevard Mall I LLC	09-12076		—
Boulevard Mall II LLC	09-12077		—
BTS Properties L.L.C.	09-12078		—
Cache Valley, LLC	09-12079		87
Century Plaza, Inc.	09-12080		—
Champaign Market Place L.L.C.	09-12081		1,623
Chapel Hills Mall L.L.C.	09-12082		756
Chattanooga Mall, Inc.	09-12083		—
Chico Mall L.L.C.	09-12084		—
Chula Vista Center, LLC	09-12085		228

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
Collin Creek Anchor Acquisition, LLC	09-12086		—
Collin Creek Mall, LLC	09-12087		662
Colony Square Mall L.L.C.	09-12088		304
Columbia Mall L.L.C.	09-12089		746
Coronado Center L.L.C.	09-12090		1,115
Coronado Center Holding L.L.C.	09-12091		—
Cottonwood Mall, LLC	09-12092		18
Country Hills Plaza, LLC	09-12093		79
Deerbrook Mall, LLC	09-12094		547
DK Burlington Town Center LLC	09-12095		—
Eagle Ridge Mall, Inc.	09-12096		—
Eagle Ridge Mall, L.P.	09-12097		455
Eastridge Shopping Center L.L.C.	09-12098		1,342
Eden Prairie Anchor Building L.L.C.	09-12099		—
Eden Prairie Mall, Inc.	09-12100		—
Eden Prairie Mall L.L.C.	09-12101		680
Elk Grove Town Center L.L.C.	09-12102		—
ER Land Acquisition L.L.C.	09-12103		—
Fallbrook Square Partners Limited Partnership	09-12104		522
Fallbrook Square Partners L.L.C.	09-12105		—
Fallen Timbers Shops, LLC	09-12106		149
Fallen Timbers Shops II, LLC	09-12107		—
Faneuil Hall Marketplace, LLC	09-12108		1,276
Fashion Place, LLC	09-12109		1,216
Fashion Place Anchor Acquisition, LLC	09-12110		2
Fifty Columbia Corporate Center, LLC	09-12111		—
Forty Columbia Corporate Center, LLC	09-12112		—
Fox River Shopping Center, LLC	09-12113		1,236
Franklin Park Mall, LLC	09-12114		—
Franklin Park Mall Company, LLC	09-12115		—
Gateway Crossing L.L.C.	09-12116		68
Gateway Overlook Business Trust	09-12117		439
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		—
GGP Holding Services, Inc.	09-12124		—
GGP Ivanhoe II, Inc.	09-12125		—

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
GGP Ivanhoe IV Services, Inc.	09-12126		—
GGP Kapiolani Development L.L.C.	09-12127		465
GGP Knollwood Mall, LP	09-12128		292
GGP Natick Residence LLC	09-12129		631
GGP Savannah L.L.C.	09-12130		—
GGP/Homart, Inc.	09-12131		396
GGP/Homart Services, Inc.	09-12132		—
GGP-Bay City One, Inc.	09-12133		—
GGP-Brass Mill, Inc.	09-12134		1,006
GGP-Burlington L.L.C.	09-12135		—
GGP-Canal Shoppes L.L.C.	09-12136		—
GGP-Foothills L.L.C.	09-12137		209
GGP-Glenbrook L.L.C.	09-12138		3,323
GGP-Glenbrook Holding L.L.C.	09-12139		1
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		2,370
GGP-Maine Mall Holding L.L.C.	09-12145		—
GGP-Maine Mall Land L.L.C.	09-12146		—
GGP-Moreno Valley, Inc.	09-12147		1,158
GGP-Newgate Mall, LLC	09-12148		335
GGP-Newpark, Inc.	09-12149		—
GGP-North Point, Inc.	09-12150		1,590
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		102
GGP-Tucson Mall L.L.C.	09-12155		1,012
GGP-UC L.L.C.	09-12156		76
Grand Canal Shops II, LLC	09-12157		3,246
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		146

24

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
Hocker Oxmoor, LLC	09-12166		482
Hocker Oxmoor Partners, LLC	09-12167		—
Howard Hughes Canyon Pointe Q4, LLC	09-12168		131
Howard Hughes Corporation, The	09-12169		3,696
Howard Hughes Properties, Inc.	09-12170		1,472
Howard Hughes Properties, Limited Partnership	09-12171		23
Howard Hughes Properties IV, LLC	09-12172		31
Howard Hughes Properties V, LLC	09-12173		43
HRD Parking, Inc.	09-12174		27
HRD Remainder, Inc.	09-12175		—
Hulen Mall, LLC	09-12176		784
Hughes Corporation, The	09-12177		—
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		2,590
Lakeview Square Limited Partnership	09-12183		1,011
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		350
Lynnhaven Holding L.L.C.	09-12189		—
Lynnhaven Mall L.L.C.	09-12190		1,367
Mall of Louisiana Holding, Inc.	09-12191		—
Mall of Louisiana Land, LP	09-12192		2
Mall of Louisiana Land Holding, LLC	09-12193		—
Mall of the Bluffs, LLC	09-12194		140
Mall St. Matthews Company, LLC	09-12195		—
Mall St. Vincent, Inc.	09-12196		—
Mall St. Vincent, L.P.	09-12197		435
Mayfair Mall, LLC	09-12198		2,261
MSAB Holdings, Inc.	09-12199		—
MSAB Holdings L.L.C.	09-12200		—
MSM Property L.L.C.	09-12201		856
Natick Retail, LLC	09-12202		9
Newgate Mall Land Acquisition, LLC	09-12203		—
NewPark Mall L.L.C.	09-12204		—
North Plains Mall, LLC	09-12205		20
North Star Anchor Acquisition, LLC	09-12206		22

25

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
North Star Mall, LLC	09-12207		1,318
North Town Mall, LLC	09-12208		253
Northgate Mall L.L.C.	09-12209		338
NSMJV, LLC	09-12210		—
Oakwood Hills Mall, LLC	09-12211		142
Oglethorpe Mall L.L.C.	09-12212		868
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		211
Park Mall, Inc.	09-12218		—
Park Mall L.L.C.	09-12219		1,338
PDC Community Centers L.L.C.	09-12220		198
PDC-Eastridge Mall L.L.C.	09-12221		370
PDC-Red Cliffs Mall L.L.C.	09-12222		155
Peachtree Mall L.L.C.	09-12223		544
Pecanland Anchor Acquisition, LLC	09-12224		—
Piedmont Mall, LLC	09-12225		308
Pierre Bossier Mall, LLC	09-12226		188
Pine Ridge Mall L.L.C.	09-12227		190
Pioneer Office Limited Partnership	09-12228		152
Pioneer Place Limited Partnership	09-12229		270
Price Development TRS, Inc.	09-12230		—
Price-ASG L.L.C.	09-12231		366
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		—
Ridgedale Center, LLC	09-12237		1,104
Rio West L.L.C.	09-12238		139
River Falls Mall, LLC	09-12239		40
River Hills Land, LLC	09-12240		—
River Hills Mall, LLC	09-12241		665
Rogue Valley Mall L.L.C.	09-12242		281
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		10
The Rouse Company of Louisiana, LLC	09-12246		—
The Rouse Company of Michigan, LLC	09-12247		—

26

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
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		—
Rouse Providence LLC	09-12252		4,324
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		425
Rouse-Phoenix Cinema, LLC	09-12261		—
Rouse-Phoenix Corporate Center Limited Partnership	09-12262		227
Rouse-Phoenix Development Company, LLC	09-12263		—
Rouse-Portland, LLC	09-12264		—
RS Properties Inc.	09-12265		854
Saint Louis Galleria L.L.C.	09-12266		1,517
Saint Louis Galleria Anchor Acquisition, LLC	09-12267		54
Saint Louis Galleria Holding L.L.C.	09-12268		—
Sierra Vista Mall, LLC	09-12269		55
Sikes Senter, LLC	09-12270		513
Silver Lake Mall, LLC	09-12271		29
Sixty Columbia Corporate Center, LLC	09-12272		—
Sooner Fashion Mall L.L.C.	09-12273		464
Southlake Mall L.L.C.	09-12274		880
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		252
Spring Hill Mall L.L.C.	09-12279		1,324
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		1,601
Summerlin Centre, LLC	09-12284		218
Summerlin Corporation	09-12285		—
Three Rivers Mall L.L.C.	09-12286		127
Three Willow Company, LLC	09-12287		—
Town East Mall, LLC	09-12288		846

27

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
Tracy Mall, Inc.	09-12289		—
Tracy Mall Partners, L.P.	09-12290		366
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		94
Two Willow Company, LLC	09-12296		—
Tysons Galleria L.L.C.	09-12297		1,638
U.K.-American Properties, Inc.	09-12298		1,123
Valley Hills Mall, Inc.	09-12299		—
Valley Plaza Anchor Acquisition, LLC	09-12300		—
VCK Business Trust	09-12301		349
Victoria Ward Center L.L.C.	09-12302		792
Victoria Ward Entertainment Center L.L.C.	09-12303		116
Victoria Ward, Limited	09-12304		4,245
Victoria Ward Services, Inc.	09-12305		—
Village of Cross Keys, LLC, The	09-12306		46
Visalia Mall L.L.C.	09-12307		—
Vista Commons, LLC	09-12308		67
Visalia Mall, L.P.	09-12309		281
Vista Ridge Mall, LLC	09-12310		920
VW Condominium Development, LLC	09-12311		—
Ward Gateway-Industrial-Village, LLC	09-12312		117
Ward Plaza-Warehouse, LLC	09-12313		203
Weeping Willow RNA, LLC	09-12314		—
West Kendall Holdings, LLC	09-12315		348
Westwood Mall, LLC	09-12316		117
White Marsh Mall, LLC	09-12317		—
White Mountain Mall, LLC	09-12318		42
Willow SPE, LLC	09-12319		—
Willowbrook II, LLC	09-12320		—
Willowbrook Mall, LLC	09-12321		2,533
Woodbridge Center Property, LLC	09-12322		1,179
Woodlands Mall Associates, LLC, The	09-12323		1,496
10000 Covington Cross, LLC	09-12324		39
10 CCC Business Trust	09-12457		35
20 CCC Business Trust	09-12458		64
30 CCC Business Trust	09-12459		60
Capital Mall L.L.C.	09-12462		264
GGP-Columbiana Trust	09-12464		193

28

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
		Month Ended
Legal Entity	Case Number	August 31, 2009
		(In thousands)
GGP-Gateway Mall L.L.C.	09-12467		450
Grand Traverse Mall Partners, LP	09-12469		667
Greenwood Mall L.L.C.	09-12471		361
Kalamazoo Mall L.L.C.	09-12472		413
Lancaster Trust	09-12473		3,978
Mondawmin Business Trust	09-12474		390
Running Brook Business Trust	09-12475		—
Town Center East Business Trust	09-12476		35
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		—
		$	191,982

29

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)

	August 31, 2009
	(In thousands)
Current	$	(25,307	)*
31 – 60 days		390
61 – 90 days		8,101
91 – 120 days		5,072
Over 120 days		49,452
Gross Amount	$	37,708

* In general, reflects tenant rents paid in advance.

30

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

SCHEDULE VII
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)

						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			August 31, 2009		Month ended August 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 (*)		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 (*)		2/28/2013		5.95	%		245,115		1,256
Hulen Mall		12/7/2011		5.03	%		113,021		490
Ivanhoe Capital (*)		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		192
Lincolnshire Commons		4/1/2013		5.98	%		28,000		144

31

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

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)

						Total Debt Balance		Interest Expense
Property	Maturity Date		Rate (a)			August 31, 2009		Month ended August 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 (*)		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	%		338		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 (*)		3/11/2010		5.12	%		59,529		262
Providence Place 4 (*)		3/11/2010		5.93	%		39,044		200
Providence Place Pilot A1		7/1/2016		7.75	%		23,754		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 (*)		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		367
Staten Island 2		10/1/2010		8.15	%		70,616		489
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 (*)		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

32

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

SCHEDULE VII — Continued
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)

						Total Debt Balance			Interest Expense
Property	Maturity Date		Rate (a)			August 31, 2009			Month ended August 31 (b)
						(Dollars in thousands)
Unsecured Asset Loans:
GGPLP/GGPLPLLC Exchangable Debt (*)		4/15/2012		3.98	%		1,550,000			5,141
Public Indenture — Company Debt (*)		9/17/2012		7.20	%		400,000			2,400
Public Indenture — Senior Bond (*)		3/16/2009		3.63	%		395,000			1,193
Public Indenture 100 (*)		11/26/2013		5.38	%		100,000			448
Public Indenture 350 (*)		11/26/2013		5.38	%		350,000			1,568
Public Indenture Senior Note (*)		4/30/2009		8.00	%		200,000			1,333
Rouse Senior Notes (*)		5/1/2013		6.75	%		800,000			4,500
Fixed Rate Debt							16,528,620			75,761
Variable Rate Loans
Secured Asset Loans:
Bank Note — Animas Valley		7/11/2013		2.53	%		35,054			76
Bank Note — Birchwood Mall		7/11/2013		2.53	%		44,308			97
Bank Note — Cache Valley		7/11/2013		2.53	%		28,043			61
Bank Note — Colony Square		7/11/2013		2.53	%		25,239			55
Bank Note — Columbiana		7/11/2013		2.53	%		105,441			230
Bank Note — Fallen Timbers		7/11/2013		2.53	%		42,401			92
Bank Note — Foothills		7/11/2013		2.53	%		50,758			111
Bank Note — Grand Teton		7/11/2013		2.53	%		48,795			106
Bank Note — Mall at Sierra Vista		7/11/2013		2.53	%		23,556			51
Bank Note — Mall of the Bluffs		7/11/2013		2.53	%		35,951			78
Bank Note — Mayfair		7/11/2013		2.53	%		274,932			599
Bank Note — Mondawmin		7/11/2013		2.53	%		84,689			185
Bank Note — North Plains		7/11/2013		2.53	%		10,656			23
Bank Note — North Town Mall		7/11/2013		2.53	%		114,976			251
Bank Note — Oakwood		7/11/2013		2.53	%		75,772			165
Bank Note — Owings Mills		7/11/2013		2.53	%		53,281			116
Bank Note — Pierre Bossiere		7/11/2013		2.53	%		40,382			88
Bank Note — Pioneer Place		7/11/2013		2.53	%		156,764			342
Bank Note — Salem Center		7/11/2013		2.53	%		41,728			91
Bank Note — Silver Lake Mall		7/11/2013		2.53	%		18,228			40
Bank Note — Southwest Plaza		7/11/2013		2.53	%		96,187			210
Bank Note — Spring Hill		7/11/2013		2.53	%		68,088			148
Bank Note — Westwood Mall		7/11/2013		2.53	%		24,117			53
Bank Note — White Mountain		7/11/2013		2.53	%		10,656			23
Fashion Show		3/15/2009		6.28	%		645,918			3,494
Oakwood Center		3/16/2009		1.78	%		95,000			152
Palazzo		3/15/2009		6.28	%		249,623			1,350
Unsecured Asset Loans:
DIP (c)		3/16/2011		13.50	%		400,000			4,650
GGPLP/GGPLPLLC Revolver (*)		2/24/2010		1.53	%		590,000			780
GGPLP/GGPLPLLC Senior Term (*)		2/24/2010		1.53	%		1,987,500			2,628
TRUPS (*)(d)		4/30/2036		1.94	%		206,200			345
Variable Rate Debt							5,684,243			16,690
Total Filing Entity Debt						$	22,212,863	(e)	$	92,451

(a)	Reflects the variable contract rate as of August 31, 2009.
(b)	All amounts for current period were paid as scheduled, except where noted (*).
(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.

33

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

SCHEDULE VIII
CHAPTER 11 RETAINED PROFESSIONALS DETAIL
(UNAUDITED)

	Period Expense		Cash Paid		Expense		Cash Paid
	Month ended		Month ended		Cumulative Post-Petition		Cumulative Post-Petition
Name	August 31, 2009		August 31, 2009		period Ended August 31, 2009		period Ended August 31, 2009
	(In thousands)
Akin Gump Strauss Hauer & Feld, LLP	$	1,047	$	1,630	$	7,268	$	1,630
AlixPartners, LLP		1,159		1,502		5,443		1,502
Assessment Technologies		19		—		48		—
Baker & Daniels LLP		—		—		—		—
Bracewell Giuliani		54		—		240		—
Calvo & Clark LLP		—		—		—		—
Cushman & Wakefield		157		—		694		16
Deloitte & Touche LLP		352		—		2,214		79
Deloitte Tax LLP		44		2		216		65
Epiq Solutions		—		—		—		—
Ernst & Young LLP		71		—		315		219
FTI Consulting		691		—		1,393		—
Grant Thornton		3		—		13		103
Hewitt Associates		104		—		459		—
Jenner & Block		627		248		935		248
Kutzman Carson Consultants LLC		533		—		3,154		—
Kirkland & Ellis LLP		3,316		—		9,051		1,951
Miller Buckfire & Co LLC		241		325		1,284		325
PricewaterhouseCoopers		5		—		21		—
Silverstein & Pomerantz LLP		—		—		—		—
Weil, Gotshal & Manges LLP		364		3,883		13,500		3,883
Total	$	8,787	$	7,590	$	46,248	$	10,021
Professional Fees Summary (See Note 7)
Restructuring Costs	$	7,665	$	7,340	$	42,485	$	9,307
General & Administrative		1,122		250		3,763		714
Total	$	8,787	$	7,590	$	46,248	$	10,021

34

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

SCHEDULE IX
NON-NOTICED ASSET CONVEYENCES
AND AUTHORIZED DE MINIMUS SALES FOR
THE MONTH ENDED AUGUST 31, 2009

Debtor	Property	Date and Transaction Description	Counterparty	Consideration
				(In thousands)
GGP Natick Residence LLC	Condominium Unit - 3	8/04/2009 Condominium Unit Sale	Joseph and Suzanna Law	$	124
	Village Way #5, Natick, MA
GGP Natick Residence LLC	Condominium Unit - 38	8/13/2009 Condominium Unit Sale	Michelle Cromwell		124
	Silver Hill #1, Natick, MA
GGP Natick Residence LLC	Condominium Unit - 11	8/26/2009 Condominium Unit Sale	Robin Chamberlain		115
	Village Rock Lane #22
	Natick, MA
GGP Natick Residence LLC	Condominium Unit - 4	8/28/2009 Condominium Unit Sale	Lindsay Tlumaki		115
	Village Rock Lane #24
	Natick, MA
GGP Natick Residence LLC	Condominium Unit - 26	8/27/2009 Condominium Unit Sale	Mathew Goodwin		129
	Walden Drive #3, Natick, MA

35

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

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 $11.8 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)	The net change in the aggregate Debtors intercompany accounts with affiliated non-debtors for the period was an increase in the amounts due to Non-Debtors of $8.5 million.
(3)	Included in the amounts reported in (1) above are payments of taxes of $1.0 million.
(4)	As previously described in Note 6 of the May MOR, which description is incorporated into this response by reference, the DIP Term Loan of $400 million was funded on May 15, 2009.

36