Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: March 31, 2010
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: May 11, 2010	by:	/s/ Edmund Hoyt
		Edmund Hoyt
		Chief Financial Officer

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

Debtors Monthly Operating Report as of and for the Month Ended March 31, 2010

Index

Combining Condensed Statements of Income and Comprehensive Income for the Month Ended March 31, 2010 and Cumulative Post-Petition Period Ended March 31, 2010		3
Combining 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 March 31, 2010	11
Schedule II	Schedule of Combined Condensed Balance Sheet as of March 31, 2010	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	22
Schedule VI	Schedule of Debtors’ Operating Property Aged Tenant Accounts Receivable	32
Schedule VII	Status of Mortgages Payable For Debtors	33
Schedule VIII	Chapter 11 Retained Professionals Detail	36
Schedule IX	Schedule of Non-Noticed and De Minimis Asset Sales	37
Schedule X	Debtors Questionnaire	38

2

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

COMBINING CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)

	Unconfirmed Entities			Post-Confirmation Entities			Total for All Debtors			Cumulative All Debtors
	Month Ended			Month Ended			Month Ended			Post-Petition Period
	March 31, 2010			March 31, 2010			March 31, 2010			Ended March 31, 2010
	(In thousands, except for
	per share amounts)
Revenues:
Minimum rents	$	14,283		$	121,363		$	135,646		$	1,598,471
Tenant recoveries		5,229			56,891			62,120			714,281
Overage rents		207			1,934			2,141			46,159
Land sales		485			—			485			7,067
Management fees and other corporate revenues		1,010			—			1,010			9,460
Other		1,742			4,468			6,210			63,242
Total revenues		22,956			184,656			207,612			2,438,680
Expenses:
Real estate taxes		1,337			18,558			19,895			228,382
Property maintenance costs		1,470			9,247			10,717			104,145
Marketing		408			1,441			1,849			29,201
Ground and other rents		217			774			991			12,207
Other property operating costs		(8,898	)		35,219			26,321			406,197
Land sales operations		4,326			—			4,326			21,048
Provision for doubtful accounts		659			5,036			5,695			24,137
Property management and other costs		(2,586	)		9,900			7,314			90,044
General and administrative		3,660			15			3,675			51,367
Provisions for impairment		11,337			14			11,351			866,328
Depreciation and amortization		6,750			42,760			49,510			579,339
Total expenses		18,680			122,964			141,644			2,412,395
Operating income (loss)		4,276			61,692			65,968			26,285
Interest (expense) income, net		(35,560	)		(74,326	)		(109,886	)		(1,118,129	)
Loss before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(31,284	)		(12,634	)		(43,918	)		(1,091,844	)
Provision for income taxes		(3,909	)		(175	)		(4,084	)		(10,063	)
Equity in income of Real Estate Affiliates		10,723			—			10,723			81,735
Reorganization items		(49,528	)		13,545			(35,983	)		235,602
Net income (loss)		(73,998	)		736			(73,262	)		(784,570	)
Allocation to noncontrolling interests		567			—			567			6,712
Net income (loss) attributable to common stockholders	$	(73,431	)	$	736		$	(72,695	)	$	(777,858	)
Basic and Diluted Income (Loss) Per Share:	$	(0.24	)	$	0.00		$	(0.23	)	$	(2.46	)
Dividends declared per share	$	—		$	—		$	—		$	0.19
Comprehensive Income (Loss), Net:
Net income (loss) attributable to common stockholders	$	(73,431	)	$	736		$	(72,695	)	$	(777,858	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		1,500			—			1,500			19,508
Accrued pension adjustment		138			—			138			1,047
Foreign currency translation		3,432			—			3,432			43,245
Unrealized gains on available-for-sale securities		4			—			4			86
Other comprehensive income, net		5,074			—			5,074			63,886
Comprehensive income (loss) attributable to common stockholders	$	(68,357	)	$	736		$	(67,621	)	$	(713,972	)

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)

COMBINING CONDENSED
BALANCE SHEET
(UNAUDITED)

	Unconfirmed			Post-Confirmation			Combined All
	Entities as of			Entities as of			Debtors as of
	March 31, 2010			March 31, 2010			March 31, 2010
	(Dollars in thousands)
Assets:
Investment in real estate:
Land	$	744,344		$	2,162,154		$	2,906,498
Buildings and equipment		2,034,921			16,846,383			18,881,304
Less accumulated depreciation		(377,661	)		(3,502,429	)		(3,880,090	)
Developments in progress		242,362			133,114			375,476
Net property and equipment		2,643,966			15,639,222			18,283,188
Investment in and loans to/from Unconsolidated Real Estate Affiliates		373,938			6,403			380,341
Investment property and property held for development and sale		1,203,934			—			1,203,934
Investment in controlled non-debtor entities		3,933,571			58,889			3,992,460
Net investment in real estate		8,155,409			15,704,514			23,859,923
Cash and cash equivalents		500,124			6,238			506,362
Accounts and notes receivable, net		48,540			278,958			327,498
Goodwill		199,664			—			199,664
Deferred expenses, net		44,811			172,584			217,395
Prepaid expenses and other assets		263,786			294,887			558,673
Total assets	$	9,212,334		$	16,457,181		$	25,669,515
Liabilities and Equity:
Mortgages, notes and loans payable	$	400,000		$	10,777,104		$	11,177,104
Investment in and loans to/from Unconsolidated Real Estate Affiliates		33,288			—			33,288
Deferred tax liabilities		903,046			—			903,046
Accounts payable and accrued expenses		594,317			410,746			1,005,063
Liabilities not subject to compromise		1,930,651			11,187,850			13,118,501
Liabilities subject to compromise		8,455,367			2,396,983			10,852,350
Total liabilities		10,386,018			13,584,833			23,970,851
Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		116,890			—			116,890
Total redeemable noncontrolling interests		237,646			—			237,646
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, 318,761,705 shares issued as of March 31, 2010		3,188			—			3,188
Additional paid-in capital		740,235			3,013,763			3,753,998
Retained earnings (accumulated deficit)		(2,091,335	)		(141,427	)		(2,232,762	)
Accumulated other comprehensive loss		(948	)		12			(936	)
Less common stock in treasury, at cost, 1,449,939 shares as of March 31, 2010		(76,752	)		—			(76,752	)
Total stockholder’s equity		(1,425,612	)		2,872,348			1,446,736
Noncontrolling interests in consolidated real estate affiliates		14,282			—			14,282
Total equity		(1,411,330	)		2,872,348			1,461,018
Total liabilities and equity	$	9,212,334		$	16,457,181		$	25,669,515

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 Petition 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 Petition 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 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 Petition Date, the Bankruptcy Court has granted various motions that allow the Company to continue to operate its business in the ordinary course without interruption; and covering, among other things, employee obligations and incentive compensation, critical service providers, tax matters, insurance matters, tenant and contractor obligations, claim settlements, ordinary course property sales, cash management, cash collateral, alternative dispute resolution, settlement of pre-petition mechanics liens and department store transactions.

Through April 30, 2010, of the total 388 Debtors with approximately $21.83 billion of debt that filed for Chapter 11 protection, 260 Debtors (the “Track 1 Debtors”) owning 145 properties with $14.80 billion of secured mortgage loans filed consensual plans of reorganization (the “Track 1 Plans”). The effectiveness of the plans of reorganization and emergence from bankruptcy of the remaining Track 1 Debtors continued in 2010 and is expected to be completed in May 2010. The Chapter 11 Cases for the remaining Debtors (generally, GGP, GGPLP and other holding company or investment subsidiaries (the “TopCo Debtors”) which own certain individual or groups of properties and also our Oakwood operating property Debtor with a secured loan of $95.0 million, (collectively, with the TopCo Debtors, the “Remaining Debtors”)) will continue until their respective plans of reorganization are filed with the Bankruptcy Court, approved by the applicable classes of creditors and confirmed by the Bankruptcy Court.

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

5

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

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 Petition 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. Liabilities not subject to compromise include: (1) liabilities held by Non-Debtor and Track 1 Debtor entities that emerged; (2) liabilities incurred after the Petition Date; (3) pre-Petition Date liabilities that the Track 1 Debtors and the Remaining Debtors expect to pay in full, even though certain of these amounts may not be paid until after the applicable Debtor’s plan of reorganization is effective; and (4) liabilities related to pre-petition contracts that affirmatively have not been rejected. 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).

Unsecured liabilities not subject to compromise as of March 31, 2010 with respect to the Track 1 Debtors are reflected at the current estimate of the probable amounts to be paid. However, the amounts of such unsecured liabilities related to the associated liabilities not subject to compromise resolved or allowed by the Bankruptcy Court (and therefore paid at 100% pursuant to the Track 1 Plans) has not yet been determined. In such regard, during February 2010, payments commenced on the Track 1 Debtor claims, a process expected to continue for several months as the amounts to be allowed are confirmed by the Bankruptcy Court. With respect to secured liabilities, GAAP bankruptcy guidance provides that Track 1 Debtor mortgage loans should be recorded at their estimated Fair Value upon emergence. A cumulative discount of approximately $283.1 million was recorded on such $6.88 billion of secured debt that emerged in the first quarter of 2010, with the resulting gain classified as a reorganization item. Additional gains are expected to be recorded in the second and third quarters of 2010 with respect to mortgage loans and other debt related to the Remaining Debtors that have emerged or will emerge from bankruptcy in 2010.

Combining condensed income statement and balance sheets have been presented as of March 31, 2010 with separate columns for the segregation of entities for which plans of reorganization have been formally confirmed (“Post-Confirmation Entities”) by the Bankruptcy Court versus those that have yet to file consensual or non-consensual plans of reorganization (“Unconfirmed Entities”). This presentation does not affect the presentation of other schedules as all original Debtors are included in the presentation where denoted. As of March 31, 2010, the Post-Confirmation Entities include 258 Debtors while the Unconfirmed Entities include 130 Debtors.

6

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

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 balances are between taxable and non-taxable entities), unsecured, payable on demand and have been reflected as a component of equity. Although the March 31, 2010 information contained in this Monthly Operating Report has been prepared in conjunction with procedures performed to prepare the Company’s first quarter financial information in accordance with GAAP and the rules and regulations of the SEC, such information is unaudited and the financial information contained in this Monthly Operating Report could be subject to changes and such changes could be material. Further, for the month of March 2010, such quarter end adjustments and changes in estimates led to the reclassification of certain costs between confirmed and unconfirmed Debtors from the amounts previously recorded. Finally, with respect to the presentation of cumulative post-petition period activity, only normal recurring adjustments were made for the routine monthly closing of the Debtors’ books in the prior periods and certain reclassifications, eliminations, accruals, valuations, reserve adjustments and disclosure items may not have made for such purposes of this Monthly Operating Report. 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, 2009, which are included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009 (the “Annual Report”) and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2010 (the “2010 Interim Report”), as certain footnote disclosures that would substantially duplicate those contained in our Annual Report and such 2010 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 2010 Interim Report.

NOTE 3 Summary of Significant Accounting Policies

See Note 1 “Organization” and Note 2 “Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements included in our 2009 Annual Report and Note 1 “Organization” in the Notes to Consolidated Financial Statements included in our 2010 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. In addition, the centralized cash management system was incorporated for the Track 1 Debtors that emerged from bankruptcy into their plans of reorganization and secured mortgage loan modifications. Mortgage lenders to the Operating Properties were granted a lien on the centralized GGPLP cash management account. Finally, 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 Petition Date.

On March 31, 2010, the aggregate cumulative post-petition intercompany amounts due (to) from GGPLP with respect to Debtors that own Operating Properties with mortgage lenders possessing the lien rights on the centralized GGPLP cash management account described above, were $143.9 million. In addition, as of March 30, 2010, the aggregate cash balance held by the Debtors upon which the first-lien holders have such lien rights was approximately $147.8 million.

7

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

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.

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:

	All Debtors as of
	March 31, 2010
	(In thousands)
Below-market ground leases	$	181,735
Prepaid expenses		82,620
Security and escrow deposits		78,391
Real estate tax stabilization agreement		70,626
Receivables — finance leases and bonds		55,508
Special Improvement District receivable		48,695
Above-market tenant leases		21,554
Deferred tax, net of valuation allowances		8,035
Other		11,509
Total prepaid expenses and other assets	$	558,673

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

	All Debtors as of
	March 31, 2010
	(In thousands)
Utility and other security deposits	$	35,296
Operating funds — restricted		21,668
Real estate tax escrows		7,319
Construction/major maintenance reserves		4,688
Other miscellaneous escrows		7,511
Collateralized letters of credit and other credit support		1,909
Total security and escrow deposits	$	78,391

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 March 31, 2010, as payment of any of such obligations are limited or precluded by the operation of Chapter 11 (see Schedule X).

8

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

	All Debtors as of
	March 31, 2010
	(In thousands)
Accrued interest	$	438,752
Accounts payable and accrued expenses		363,378
Accrued payroll and other employee liabilities		134,577
Uncertain tax position liabilities		129,846
Construction payable		122,592
Deferred gains/income		75,998
Accrued real estate taxes		72,958
Hughes accrued participation		68,554
Below-market tenant leases		50,630
Unapplied cash receipts		36,628
Accounts payable to affiliates		(94,928	)
Other		189,411
Total accounts payable and accrued expenses		1,588,396
Less: amounts not subject to compromise		(1,005,063	)
Total accounts payable and accrued expenses subject to compromise	$	583,333

The following table summarizes the amounts of LSTC (see Note 2) at March 31, 2010:

	(In thousands)
Mortgages and secured notes	$	4,255,515
Unsecured notes		6,013,502
Accounts payable and accrued expenses		583,333
Total liabilities subject to compromise	$	10,852,350

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 of such contracts (except for our operating property tenant leases), no contracts have been rejected relating to the Track 1 Plan. Additional claims related to executory contracts have been recorded by the Debtors based on analysis relating to the emergence of Debtors and compliance with applicable accounting guidance.

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:

	All Debtors
			Cumulative Post-
	Month Ended		Petition Period Ended
General and Administrative Expenses	March 31, 2010		March 31, 2010
	(In thousands)
Insider compensation	$	2,094	$	13,396
Public Company expense (1)		1,353		8,360
Travel, entertainment, insurance and other		228		29,611
Total general and administrative	$	3,675	$	51,367

(1) This amount includes routine operating professional fees, including any fees incurred for “retained professionals”. Professional fees related to the Chapter 11 Cases are reported separately within reorganization items.

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 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:

	All Debtors
				Cumulative Post-
	Month Ended			Petition Period Ended
Reorganization Items (income) expense	March 31, 2010			March 31, 2010
	(In thousands)
Gains on liabilities subject to compromise — vendors (1)	$	(593	)	$	(9,730	)
Gains on liabilities subject to compromise — mortgage debt (2)		(27,980	)		(625,237	)
Interest income (3)		(1	)		(46	)
U.S. Trustee fees (4)		250			5,417
Restructuring costs — Chapter 11 Retained Professionals (5)		19,319			116,368
Restructuring costs — including other professional fees (6)		44,988			277,626
Total reorganization items	$	35,983		$	(235,602	)

(1)	This amount includes gains from repudiation, rejection or termination of contracts or guarantee of obligations. Such gains reflect agreements reached with certain critical vendors, which were authorized by the Bankruptcy Court and for which payments on an installment basis began in July 2009.
(2)	Such gains include $38.0 million, for the cumulative post-petition period ended March 31, 2010, resulting from the write off of existing Fair Value of debt adjustments for the entities that emerged from bankruptcy.
(3)	Interest income primarily reflects amounts earned on cash accumulated as a result of our Chapter 11 cases.
(4)	Estimate of fees due remain subject to confirmation and review by the Office of the United States Trustee (“U.S. Trustee”).
(5)	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 specified restructuring or sale transactions.
(6)	Restructuring costs primarily include professional fees incurred related to the bankruptcy filings and; finance costs incurred by and the write off of unamortized deferred finance costs related to the Emerged Debtors.

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 March 31, 2010
							Combined
	Debtors			Eliminations			All Debtors
	(In thousands, except for per share amounts)
Revenues:
Minimum rents	$	135,655		$	(9	)	$	135,646
Tenant recoveries		62,120			—			62,120
Overage rents		2,141			—			2,141
Land sales		485			—			485
Management fees and other corporate revenues		1,010			—			1,010
Other		6,210			—			6,210
Total revenues		207,621			(9	)		207,612
Expenses:
Real estate taxes		19,895			—			19,895
Property maintenance costs		10,717			—			10,717
Marketing		1,849			—			1,849
Ground and other rents		987			4			991
Other property operating costs		26,359			(38	)		26,321
Land sales operations		4,326			—			4,326
Provision for doubtful accounts		5,695			—			5,695
Property management and other costs		7,276			38			7,314
General and administrative		3,688			(13	)		3,675
Provisions for impairment		11,351			—			11,351
Depreciation and amortization		49,510			—			49,510
Total expenses		141,653			(9	)		141,644
Operating income		65,968			—			65,968
Interest (expense) income, net		(109,886	)		—			(109,886	)
(Loss) income before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(43,918	)		—			(43,918	)
Provision for income taxes		(4,084	)		—			(4,084	)
Equity in income of Real Estate Affiliates		(560	)		11,283			10,723
Reorganization items		(35,983	)		—			(35,983	)
Net income		(84,545	)		11,283			(73,262	)
Allocation to noncontrolling interests		(860	)		1,427			567
Net income attributable to common stockholders	$	(85,405	)	$	12,710		$	(73,695	)
Basic and Diluted Earnings Per Share:	$	(0.27	)	$	0.04		$	(0.23	)
Comprehensive Income (Loss), Net:
Net income attributable to common stockholders	$	(85,405	)	$	12,710		$	(72,695	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		1,535			(35	)		1,500
Accrued pension adjustment		141			(3	)		138
Foreign currency translation		3,512			(80	)		3,432
Unrealized gains on available-for-sale securities		4			—			4
Other comprehensive income (loss), net		5,192			(118	)		5,074
Comprehensive loss attributable to common stockholders	$	(80,213	)	$	12,592		$	(67,621	)

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 March 31, 2010
							Combined All
	Debtors			Eliminations			Debtors
				(In thousands)
Assets:
Investment in real estate:
Land	$	2,906,498		$	—		$	2,906,498
Buildings and equipment		18,881,304			—			18,881,304
Less accumulated depreciation		(3,880,090	)		—			(3,880,090	)
Developments in progress		450,696			(75,220	)		375,476
Net property and equipment		18,358,408			(75,220	)		18,283,188
Investment in and loans to/from Unconsolidated Real Estate Affiliates		600,458			(220,117	)		380,341
Investment property and property held for development and sale		1,128,976			74,958			1,203,934
Investment in controlled non-debtor entities		15,885,938			(11,893,478	)		3,992,460
Net investment in real estate		35,973,780			(12,113,857	)		23,859,923
Cash and cash equivalents		497,789			8,573			506,362
Accounts and notes receivable, net		327,498			—			327,498
Goodwill		199,664			—			199,664
Deferred expenses, net		217,395			—			217,395
Prepaid expenses and other assets		584,367			(25,694	)		558,673
Total assets	$	37,800,493		$	(12,130,978	)	$	25,669,515
Liabilities and Equity:
Mortgages, notes and loans payable	$	11,177,104		$	—		$	11,177,104
Investment in and loans to/from Unconsolidated Real Estate Affiliates		33,288			—			33,288
Deferred tax liabilities		903,046			—			903,046
Accounts payable and accrued expenses		1,035,879			(30,816	)		1,005,063
Total liabilities not subject to compromise		13,149,317			(30,816	)		13,118,501
Liabilities subject to compromise		11,191,448			(339,098	)		10,852,350
Total liabilities		24,340,765			(369,914	)		23,970,851
Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		116,907			(17	)		116,890
Total redeemable noncontrolling interests		237,663			(17	)		237,646
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, 318,761,705 shares issued as of March 31, 2010		3,188			—			3,188
Additional paid-in capital		9,538,423			(5,784,425	)		3,753,998
Retained earnings (accumulated deficit)		3,743,877			(5,976,639	)		(2,232,762	)
Accumulated other comprehensive loss		(953	)		17			(936	)
Less common stock in treasury, at cost, 1,449,939 shares as of March 31, 2010		(76,752	)		—			(76,752	)
Total stockholder’s equity		13,207,783			(11,761,047	)		1,446,736
Noncontrolling interests in consolidated real estate affiliates		14,282			—			14,282
Total equity		13,222,065			(11,761,047	)		1,461,018
Total liabilities and equity	$	37,800,493		$	(12,130,978	)	$	25,669,515

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 March 31, 2010

Gross Wage	Employee Payroll	Employer Payroll
Expense	Taxes Withheld (a)	Taxes Remitted (b)
	(In thousands)
$52,889	$16,010	$3,671

(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 March 26, 2010.
(c)	Includes approximately $37.8 million of discretionary bonuses (approved by the Bankruptcy Court) to the employees of the Company.

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

			Amounts Paid
	Amount Accrued		Month Ended
	March 31, 2010		March 31, 2010
	(In thousands)
Federal and state income taxes	$	2,315	$	760
State and local taxes:
Property *		72,958		8,273
Sales and use		1,580		1,303
Franchise		2,253		262
Other		737		96
Total state and local taxes		77,528		9,934
Total taxes	$	79,843	$	10,694

* 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	March 31, 2010		March 31, 2010
	(In thousands)
10 COLUMBIA CORPORATE CENTER	$	—	$	—
10000 COVINGTON CROSS		—		—
10000 WEST CHARLESTON		—		—
10190 COVINGTON CROSS		—		—
1120/40 TOWN CENTER DRIVE		—		—
1160/80 TOWN CENTER DRIVE		—		—
1201/41 TOWN CENTER DRIVE		—		—
1240 ALA MOANA BLVD		—		—
1251/81 TOWN CENTER DRIVE		—		—
1551 HILLSHIRE DRIVE		—		8
1635 VILLAGE CENTER CIRCLE		—		—
1645 VILLAGE CENTER CIRCLE		—		—
20 COLUMBIA CORPORATE CENTER		—		—
30 COLUMBIA CORPORATE CENTER		—		—
306 KAMANI STREET		—		—
324 KAMAUNI STREET		—		—
330 KAMANI STREET		—		—
40 COLUMBIA CORPORATE CENTER		—		—
404 WARD AVENUE		—		—
420 WARD AVENUE		—		—
4848 OUTPARCEL		33		—
50 COLUMBIA CORPORATE CENTER		—		—
506 AHUI STREET		6		—
532 AHUI STREET BUILDING		—		—
60 COLUMBIA CORPORATE CENTER		—		—
801 HALEKAUWILA STREET		—		—
834 POHUKAINA ST.		—		—
837 HALEKAUWILA STREET		—		—
849/863 HALEKAUWILA STREET		—		—
900 HALEKAUWILA STREET		—		—
955 KAWAIAHAO STREET		—		—
955 WAIMANU STREET		—		—
956 KAWAIAAHAO (PARK LOT)		—		—
956 QUEEN STREET		7		—
9901/21 COVINGTON CROSS		—		—
9950/80 COVINGTON CROSS		—		—
AAA HAWAII, INC.		—		—
AHUI BUILDING		—		—
ALA MOANA BUILDING		—		—
ALA MOANA CENTER		2,401		—

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	March 31, 2010		March 31, 2010
	(In thousands)
ALA MOANA PACIFIC CENTER		—		—
ALA MOANA PLAZA		—		—
ALA MOANA TOWER		—		—
ALA MOANA-KAPIOLANI PROPERTIES		—		—
ALA MOANA-KONA STREET		—		—
ALAMEDA PLAZA		133		—
ANIMAS VALLEY MALL		172		—
APACHE MALL		429		—
ARIZONA CENTER		46		—
ARIZONA CENTER ARIZONA CENTER ONE		135		—
ARIZONA CENTER ARIZONA CENTER TWO		164		—
ARIZONA CENTER CINEMA		29		—
ARIZONA CENTER GARDEN OFFICE		14		—
ARIZONA CENTER OFFICE		30		—
ARIZONA CENTER PARKING		51		—
AUGUSTA MALL		185		—
AUGUSTA MALL ANCHOR ACQ		90		—
AUSTIN BLUFFS PLAZA		41		—
BAILEY HILL		—		—
BASKIN ROBBINS		5		—
BAY CITY MALL		—		—
BAYSHORE MALL		120		—
BEACHWOOD PLACE		2,895		—
BELLIS FAIR		109		—
BIRCHWOOD MALL		191		—
BOISE TOWN SQUARE ANCHOR ACQ		63		—
BOISE TOWNE PLAZA		173		—
BOISE TOWNE SQUARE		1,487		—
BRASS MILL CENTER		—		—
BRASS MILL COMMONS		—		—
BURLINGTON TOWN CENTER		—		147
BURLINGTON TOWN CENTER OFFICE		—		26
CACHE VALLEY MALL		64		—
CACHE VALLEY MARKETPLACE		28		—
CANYON POINT		—		—
CAPITAL MALL		74		—
CENTURY PLAZA		36		—
CHAPEL HILLS MALL		895		—
CHICO MALL		142		—
CHULA VISTA CENTER		201		—

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	March 31, 2010		March 31, 2010
	(In thousands)
COLLIN CREEK		469		—
COLONY SQUARE MALL		287		190
COLUMBIA CENTER-C.A. BUILDING		—		—
COLUMBIA CENTER-EXHIBIT BLDG		—		—
COLUMBIA MALL		134		—
COLUMBIANA CENTER		378		76
CORONADO MALL		579		—
CORPORATE POINTE #2		—		—
CORPORATE POINTE #3		—		—
COTTONWOOD MALL		73		—
COTTONWOOD SQUARE		11		—
COUNTRY HILL PLAZA		35		—
CROSSING BUSINESS CENTER #6		—		—
CROSSING BUSINESS CENTER #7		—		—
CROSSROADS CENTER (MN)		765		—
DEERBROOK MALL		383		—
DEERBROOK MALL ANCHOR ACQ		18		—
DIVISION CROSSING		—		—
EAGLE RIDGE MALL		135		—
EASTRIDGE MALL (CA)		447		—
EASTRIDGE MALL (WY)		202		—
EDEN PRAIRIE CENTER		983		—
EDEN PRAIRIE CENTER ANCHOR ACQ		57		—
ELK GROVE PROMENADE		350		—
FALLBROOK CENTER		375		—
FANEUIL HALL MARKETPLACE		—		—
FASHION PLACE		309		—
FASHION PLACE ANCHOR ACQ		23		—
FASHION SHOW		—		—
FOOTHILLS MALL		689		—
FORT UNION		17		—
FOUR SEASONS TOWN CENTRE MALL		431		—
FOX RIVER MALL		1,088		—
FREMONT VILLAGE		—		—
GATEWAY CROSSING SHOPPING CTR		50		—
GATEWAY MALL		—		—
GGP-FEASIBILITY COMPANY		—		—
GGPLP-SHARED		900		—
GGPLP-VICTORIA WARD		—		—
GLENBROOK SQUARE		5,835		—

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	March 31, 2010		March 31, 2010
	(In thousands)
GLENBROOK SQUARE ANCHOR ACQ		164		—
GRAND TETON MALL		620		—
GRAND TETON PLAZA		133		—
GRAND TRAVERSE MALL		157		—
GREENGATE MALL, INC.		—		—
GREENWOOD MALL		122		—
HALEKAUWILA BUILDING		10		—
HALSEY CROSSING		—		—
HARBORPLACE		—		—
COLUMBIA HRD BENSON LEASES		—		—
HULEN MALL		527		—
JORDAN CREEK TOWN CENTER		3,252		2,632
KAMANI BUILDING		—		—
KENDALL TOWN CENTER		221		—
KLING TRUST (CLIFFORD ET AL)		—		—
KNOLLWOOD MALL		154		—
LAKEMOOR		—		—
LAKESIDE MALL		—		—
LAKEVIEW SQUARE		217		—
LANDMARK MALL		122		—
LANSING MALL		297		—
LINCOLNSHIRE COMMONS		530		—
LOCKPORT MALL		—		—
LYNNHAVEN MALL		654		—
MALL AT SIERRA VISTA		330		—
MALL OF LOUISIANA		308		—
MALL OF LOUSIANA POWER CENTER		38		—
MALL OF THE BLUFFS		1,620		672
MALL ST. MATHEWS		196		—
MALL ST. VINCENT		156		—
MARKET PLACE SHOPPING CENTER		2,111		—
MAYFAIR BANK TOWER		183		—
MAYFAIR MALL		2,650		1,880
MAYFAIR NORTH TOWER		192		—
MAYFAIR PROFESSIONAL		73		—
MAYFAIR-AURORA HEALTH CENTER		174		—
MCKELLAR, DAVID GARTH		—		—
MORENO VALLEY MALL		172		—
NATICK-NOUVELLE AT NATICK		—		—
NEIGHBORHOOD STORES		—		—

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	March 31, 2010		March 31, 2010
	(In thousands)
NEWGATE MALL		186		—
NEWPARK MALL		201		—
NEWPARK MALL ANCHOR ACQ		39		—
NORTH PLAINS MALL		45		—
NORTH POINT MALL		614		—
NORTH STAR MALL		2,672		—
NORTH STAR MALL ANCHOR ACQ		297		—
NORTH TOWN MALL		283		—
NORTHGATE MALL		165		—
NORTHRIDGE FASHION CENTER		594		15
OAKWOOD CENTER		114		—
OAKWOOD MALL		911		—
OGLETHORPE MALL		345		—
OREM PLAZA CENTER STREET		18		—
OREM PLAZA STATE STREET		9		—
OVIEDO MARKETPLACE		169		—
OWINGS MALL		—		—
OXMOOR MALL		188		—
PARK CITY CENTER		—		1,999
PARK PLACE		869		—
PARK WEST		744		—
PEACHTREE MALL		370		—
PECANLAND MALL		161		—
PECANLAND MALL ANCHOR ACQ		13		—
PIEDMONT MALL		57		—
PIERRE BOSSIER MALL		59		—
PINE RIDGE MALL		335		—
PIONEER PLACE		—		—
PIONEER PLACE LP EXPANSION		—		—
PIONEER TOWER		—		—
PIONEER TOWER GARAGE		—		—
PLAZA 800		—		—
PLAZA 9400		38		—
POHUKAINA CENTER		—		—
POHUKAINA COURT		—		—
PRICE NT CORP		—		—
PRINCE KUHIO PLAZA		—		—
PROVIDENCE PLACE		—		—
PROVO PLAZA		11		—
RED CLIFFS MALL		53		—

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	March 31, 2010		March 31, 2010
	(In thousands)
RED CLIFFS PLAZA		15		—
REDLANDS PROMENADE		24		—
REGENCY SQUARE MALL		340		—
RIDGEDALE CENTER		927		—
RIDGLEY BUILDING		—		—
RIO WEST MALL		159		—
RIVER FALLS		984		—
RIVER HILLS MALL		1,760		—
RIVER POINTE PLAZA		25		—
RIVERLANDS SHOPPING CENTER		15		—
RIVERSIDE PLAZA		39		—
RIVERTOWN CROSSINGS		625		—
RIVERWALK MARKETPLACE		—		—
ROGUE VALLEY MALL		—		—
SAINT LOUIS GALLERIA		996		—
SALEM CENTER		—		—
SEAPORT MARKETPLACE, INC.		—		—
SIKES SENTER		332		—
SILVER LAKE MALL		158		—
SOONER MALL		103		202
SOUTH STREET MARKETPLACE THEAT		165		—
SOUTHLAKE MALL		281		—
SOUTHLAND CENTER (MI)		—		8
SOUTHLAND MALL (CA)		414		—
SOUTHSHORE MALL		33		—
SOUTHWEST OFF CTR I		126		—
SOUTHWEST OFF CTR II		39		—
SOUTHWEST PLAZA		1,718		—
SPRING HILL MALL		2,893		—
ST LOUIS GALLERIA ANCH ACQ		20		—
STEEPLEGATE MALL		—		392
STONESTOWN GALLERIA		909		—
STONESTOWN MEDICAL BUILDING		55		—
TESORO CORPORATION		—		—
THE BOULEVARD MALL		—		—
THE BRIDGES AT MINT HILL		5		—
THE COMMONS AT FOOTHILLS MALL		24		—
THE CROSSROADS (MI)		328		—
THE GALLERY AT HARBORPLACE		—		—
THE GALLERY AT HARBORPLACE-GARAGE		1,206		—
THE GALLERY AT HARBORPLACE-OFFICE		—		—
THE GRAND CANAL SHOPPES		—		—
THE MAINE MALL		—		13

19

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	March 31, 2010		March 31, 2010
	(In thousands)
THE PINES		123		—
THE PLAZA AT FOOTHILLS MALL		57		—
THE SHOPPES AT THE PALAZZO		—		—
THE SHOPS AT FALLEN TIMBERS		1,356		9
THE SHOPS AT FOOTHILLS MALL		91		—
THE SHOPS AT SUMMERLIN CENTRE		—		—
THE VILLAGE AT REDLANDS		50		—
THE VILLAGE OF CROSS KEYS		—		—
THE WOODLANDS MALL		418		—
THE WOODLANDS MALL ANCHOR ACQ		23		—
THHC LAND (WOBU)		—		—
THREE RIVERS MALL		52		—
TOWN EAST MALL		918		—
TRCLP		—		—
TUCSON ANCHOR ACQ		48		—
TUCSON ENTERTAINMENT PAVILION		28		—
TUCSON MALL		700		—
TWINS FALLS CROSSINGS		25		—
TYSONS GALLERIA		627		—
UNIVERSITY CROSSING		63		—
VALLEY HILLS MALL		607		—
VALLEY PLAZA MALL		295		—
VICTORIA WARD SHARED OPERATION		—		—
VILLAGE AT JORDAN CREEK		854		—
VISALIA MALL		111		—
VISTA COMMONS		—		—
VISTA RIDGE MALL		544		—
VML MAINT SHOP		—		—
VWL-GROUND LEASE PROP.		1		—
WARD CENTERS		—		—
WARD ENTERTAINMENT CENTER		—		—
WARD GATEWAY CENTER		122		—
WARD INDUSTRIAL CENTER		—		—
WARD PLAZA		—		—
WARD VILLAGE		98		—
WARD VILLAGE SHOPS		26		—
WARD WAREHOUSE		—		—
WASHINGTON PARK MALL		42		—
WEST VALLEY MALL		198		—
WESTWOOD MALL		65		—

20

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	March 31, 2010		March 31, 2010
	(In thousands)
WHITE MARSH MALL		—		—
WHITE MOUNTAIN MALL		81		—
WILLOWBROOK MALL (NJ)		60		4
WOODBRIDGE CENTER		—		—
WOODLANDS VILLAGE		80		—
YELLOWSTONE SQUARE		62		—
	$	72,958	$	8,273

21

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		March 31, 2010
			(In thousands)
South Street Seaport Limited Partnership		09-11963	$	1,053
Seaport Marketplace, LLC		09-11964		—
Seaport Marketplace Theatre, LLC		09-11965		7
Lockport L.L.C.		09-11966		75
RASCAP Realty, Ltd.		09-11967		—
Bellis Fair Partners		09-11968		764
GGP-Mint Hill L.L.C.		09-11969		—
Pines Mall Partners		09-11970		112
GGP-Grandville L.L.C.		09-11971		1,390
GGP-Grandville II L.L.C.		09-11972		—
GGP-Redlands Mall, L.P.		09-11973		58
La Place Shopping, L.P.		09-11974		15
GGP-Tucson Land L.L.C.		09-11975		4
Tucson Anchor Acquisition, LLC		09-11976		979
General Growth Properties, Inc.		09-11977		—
GGP Limited Partnership		09-11978		136,264
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		11,589
TRC Co-Issuer, Inc.		09-11984		—
Oakwood Shopping Center Limited Partnership		09-11985		309
Alameda Mall Associates		09-11986		400
Bay Shore Mall Partners		09-11987		1,073
Chico Mall, L.P.		09-11988		447
Lansing Mall Limited Partnership		09-11989		559
GGP-Pecanland, L.P.		09-11990		634
GGP-Pecanland II, L.P.		09-11991		—
Southland Mall, L.P.		09-11992		864
South Shore Partners, L.P.		09-11993		29
Price Financing Partnership, L.P.		09-11994		—
Price GP L.L.C.		09-11995		—
HHP Government Services, Limited Partnership		09-11996		—
Ho Retail Properties I Limited Partnership		09-11997		555
New Orleans Riverwalk Associates		09-11998		356
New Orleans Riverwalk Limited Partnership		09-11999		—
White Marsh General Partnership		09-12000		529
White Marsh Mall Associates		09-12001		529
White Marsh Phase II Associates		09-12002		529

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		March 31, 2010
			(In thousands)
Parke West, LLC		09-12003		82
GGP-Newpark L.L.C.		09-12004		400
Elk Grove Town Center, L.P.		09-12005		19
Baltimore Center Associates Limited Partnership		09-12006		1,098
Baltimore Center Garage Limited Partnership		09-12007		131
Century Plaza L.L.C.		09-12008		65
Harbor Place Associates Limited Partnership		09-12009		789
Price Development Company, Limited Partnership		09-12010		83
Rouse-Phoenix Theatre Limited Partnership		09-12011		3
Rouse-Arizona Retail Center Limited Partnership		09-12012		330
Rouse-Phoenix Master Limited Partnership		09-12013		—
Saint Louis Land L.L.C.		09-12014		—
Southland Center, LLC		09-12015		966
GGP-North Point Land L.L.C.		09-12016		—
Majestic Partners-Provo, LLC		09-12017		1
GGP-Mall of Louisiana, L.P.		09-12018		1,425
NewPark Anchor Acquisition, LLC		09-12019		—
Parkview Office Building Limited Partnership		09-12020		118
Parkside Limited Partnership		09-12021		79
Park Square Limited Partnership		09-12022		56
Rouse SI Shopping Center, LLC		09-12023		3,463
Augusta Mall, LLC		09-12024		1,434
Burlington Town Center LLC, The		09-12025		542
Fashion Show Mall LLC		09-12026		4,040
GGP Ala Moana L.L.C.		09-12027		14,053
GGP Jordan Creek L.L.C.		09-12028		4,342
GGP Village at Jordan Creek L.L.C.		09-12029		36
GGP-Four Seasons L.L.C.		09-12030		1,136
Lincolnshire Commons, LLC		09-12031		234
Phase II Mall Subsidiary, LLC		09-12032		1,892
St. Cloud Mall L.L.C.		09-12033		826
Valley Hills Mall L.L.C.		09-12034		585
GGP Holding, Inc.		09-12035		217
The Rouse Company BT, LLC		09-12036		—
Rouse Company Operating Partnership LP, The		09-12037		—
10000 West Charleston Boulevard, LLC		09-12040		177
10190 Covington Cross, LLC		09-12041		38
1120/1140 Town Center Drive, LLC		09-12042		55
1160/1180 Town Center Drive, LLC		09-12043		37
1201-1281 Town Center Drive, LLC		09-12044		40

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		March 31, 2010
			(In thousands)
1251 Center Crossing, LLC		09-12045		—
1450 Center Crossing Drive, LLC		09-12046		14
1451 Center Crossing Drive, LLC		09-12047		11
1551 Hillshire Drive, LLC		09-12048		127
1635 Village Centre Circle, LLC		09-12049		24
1645 Village Center Circle, LLC		09-12050		26
9901-9921 Covington Cross, LLC		09-12051		8
9950-9980 Covington Cross, LLC		09-12052		15
Alameda Mall, L.L.C.		09-12053		—
Apache Mall, LLC		09-12054		269
Arizona Center Parking, LLC		09-12055		87
Augusta Mall Anchor Acquisition, LLC		09-12056		7
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		1,308
Baltimore Center, LLC		09-12063		—
Bay City Mall Associates L.L.C.		09-12064		185
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		1,437
Benson Park Business Trust		09-12069		—
Birchwood Mall, LLC		09-12070		201
Boise Mall, LLC		09-12071		1,240
Boise Town Square Anchor Acquisition, LLC		09-12072		6
Boise Towne Plaza L.L.C.		09-12073		76
Boulevard Associates		09-12074		1,272
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		61
Century Plaza, Inc.		09-12080		—
Champaign Market Place L.L.C.		09-12081		834
Chapel Hills Mall L.L.C.		09-12082		934
Chattanooga Mall, Inc.		09-12083		—
Chico Mall L.L.C.		09-12084		—

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		March 31, 2010
			(In thousands)
Chula Vista Center, LLC		09-12085		211
Collin Creek Anchor Acquisition, LLC		09-12086		—
Collin Creek Mall, LLC		09-12087		987
Colony Square Mall L.L.C.		09-12088		318
Columbia Mall L.L.C.		09-12089		826
Coronado Center L.L.C.		09-12090		1,463
Coronado Center Holding L.L.C.		09-12091		—
Cottonwood Mall, LLC		09-12092		35
Country Hills Plaza, LLC		09-12093		82
Deerbrook Mall, LLC		09-12094		706
DK Burlington Town Center LLC		09-12095		—
Eagle Ridge Mall, Inc.		09-12096		—
Eagle Ridge Mall, L.P.		09-12097		294
Eastridge Shopping Center L.L.C.		09-12098		1,528
Eden Prairie Anchor Building L.L.C.		09-12099		1
Eden Prairie Mall, Inc.		09-12100		—
Eden Prairie Mall L.L.C.		09-12101		1,296
Elk Grove Town Center L.L.C.		09-12102		—
ER Land Acquisition L.L.C.		09-12103		—
Fallbrook Square Partners Limited Partnership		09-12104		943
Fallbrook Square Partners L.L.C.		09-12105		—
Fallen Timbers Shops, LLC		09-12106		387
Fallen Timbers Shops II, LLC		09-12107		—
Faneuil Hall Marketplace, LLC		09-12108		1,336
Fashion Place, LLC		09-12109		1,504
Fashion Place Anchor Acquisition, LLC		09-12110		8
Fifty Columbia Corporate Center, LLC		09-12111		—
Forty Columbia Corporate Center, LLC		09-12112		—
Fox River Shopping Center, LLC		09-12113		1,634
Franklin Park Mall, LLC		09-12114		—
Franklin Park Mall Company, LLC		09-12115		—
Gateway Crossing L.L.C.		09-12116		100
Gateway Overlook Business Trust		09-12117		1,075
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		17
GGP Holding Services, Inc.		09-12124		—

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		March 31, 2010
			(In thousands)
GGP Ivanhoe II, Inc.		09-12125		—
GGP Ivanhoe IV Services, Inc.		09-12126		6
GGP Kapiolani Development L.L.C.		09-12127		58
GGP Knollwood Mall, LP		09-12128		345
GGP Natick Residence LLC		09-12129		422
GGP Savannah L.L.C.		09-12130		—
GGP/Homart, Inc.		09-12131		101
GGP/Homart Services, Inc.		09-12132		—
GGP-Bay City One, Inc.		09-12133		—
GGP-Brass Mill, Inc.		09-12134		1,429
GGP-Burlington L.L.C.		09-12135		—
GGP-Canal Shoppes L.L.C.		09-12136		—
GGP-Foothills L.L.C.		09-12137		208
GGP-Glenbrook L.L.C.		09-12138		1,381
GGP-Glenbrook Holding L.L.C.		09-12139		3
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		1,676
GGP-Maine Mall Holding L.L.C.		09-12145		—
GGP-Maine Mall Land L.L.C.		09-12146		—
GGP-Moreno Valley, Inc.		09-12147		1,298
GGP-Newgate Mall, LLC		09-12148		367
GGP-Newpark, Inc.		09-12149		—
GGP-North Point, Inc.		09-12150		1,633
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		1,013
GGP-Tucson Mall L.L.C.		09-12155		1,259
GGP-UC L.L.C.		09-12156		101
Grand Canal Shops II, LLC		09-12157		3,746
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		—

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		March 31, 2010
			(In thousands)
Ho Retail Properties II Limited Partnership		09-12165		144
Hocker Oxmoor, LLC		09-12166		720
Hocker Oxmoor Partners, LLC		09-12167		—
Howard Hughes Canyon Pointe Q4, LLC		09-12168		66
Howard Hughes Corporation, The		09-12169		5,270
Howard Hughes Properties, Inc.		09-12170		2,376
Howard Hughes Properties, Limited Partnership		09-12171		36
Howard Hughes Properties IV, LLC		09-12172		17
Howard Hughes Properties V, LLC		09-12173		17
HRD Parking, Inc.		09-12174		65
HRD Remainder, Inc.		09-12175		—
Hulen Mall, LLC		09-12176		1,030
Hughes Corporation, The		09-12177		—
Kapiolani Condominium Development, LLC		09-12178		6
Kapiolani Retail, LLC		09-12179		—
Knollwood Mall, Inc.		09-12180		—
Lakeside Mall Holding, LLC		09-12181		—
Lakeside Mall Property LLC		09-12182		1,397
Lakeview Square Limited Partnership		09-12183		397
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		490
Lynnhaven Holding L.L.C.		09-12189		—
Lynnhaven Mall L.L.C.		09-12190		1,998
Mall of Louisiana Holding, Inc.		09-12191		—
Mall of Louisiana Land, LP		09-12192		5
Mall of Louisiana Land Holding, LLC		09-12193		—
Mall of the Bluffs, LLC		09-12194		857
Mall St. Matthews Company, LLC		09-12195		—
Mall St. Vincent, Inc.		09-12196		—
Mall St. Vincent, L.P.		09-12197		143
Mayfair Mall, LLC		09-12198		3,048
MSAB Holdings, Inc.		09-12199		—
MSAB Holdings L.L.C.		09-12200		—
MSM Property L.L.C.		09-12201		1,244
Natick Retail, LLC		09-12202		—
Newgate Mall Land Acquisition, LLC		09-12203		—
NewPark Mall L.L.C.		09-12204		—

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		March 31, 2010
			(In thousands)
North Plains Mall, LLC		09-12205		16
North Star Anchor Acquisition, LLC		09-12206		62
North Star Mall, LLC		09-12207		1,860
North Town Mall, LLC		09-12208		305
Northgate Mall L.L.C.		09-12209		526
NSMJV, LLC		09-12210		—
Oakwood Hills Mall, LLC		09-12211		181
Oglethorpe Mall L.L.C.		09-12212		1,050
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		383
Park Mall, Inc.		09-12218		—
Park Mall L.L.C.		09-12219		1,367
PDC Community Centers L.L.C.		09-12220		485
PDC-Eastridge Mall L.L.C.		09-12221		395
PDC-Red Cliffs Mall L.L.C.		09-12222		212
Peachtree Mall L.L.C.		09-12223		847
Pecanland Anchor Acquisition, LLC		09-12224		—
Piedmont Mall, LLC		09-12225		186
Pierre Bossier Mall, LLC		09-12226		151
Pine Ridge Mall L.L.C.		09-12227		238
Pioneer Office Limited Partnership		09-12228		265
Pioneer Place Limited Partnership		09-12229		311
Price Development TRS, Inc.		09-12230		—
Price-ASG L.L.C.		09-12231		386
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		2,409
Rio West L.L.C.		09-12238		136
River Falls Mall, LLC		09-12239		74
River Hills Land, LLC		09-12240		—
River Hills Mall, LLC		09-12241		696
Rogue Valley Mall L.L.C.		09-12242		318
Rogue Valley Mall Holding L.L.C.		09-12243		—
The Rouse Company at Owings Mills, LLC		09-12244		—

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		March 31, 2010
			(In thousands)
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		—
Rouse Providence LLC		09-12252		1,304
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		1
Rouse-New Orleans, LLC		09-12258		—
Rouse-Oakwood Shopping Center, LLC		09-12259		—
Rouse-Orlando, LLC		09-12260		230
Rouse-Phoenix Cinema, LLC		09-12261		—
Rouse-Phoenix Corporate Center Limited Partnership		09-12262		182
Rouse-Phoenix Development Company, LLC		09-12263		—
Rouse-Portland, LLC		09-12264		—
RS Properties Inc.		09-12265		994
Saint Louis Galleria L.L.C.		09-12266		1,897
Saint Louis Galleria Anchor Acquisition, LLC		09-12267		2,504
Saint Louis Galleria Holding L.L.C.		09-12268		—
Sierra Vista Mall, LLC		09-12269		138
Sikes Senter, LLC		09-12270		523
Silver Lake Mall, LLC		09-12271		59
Sixty Columbia Corporate Center, LLC		09-12272		—
Sooner Fashion Mall L.L.C.		09-12273		713
Southlake Mall L.L.C.		09-12274		946
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		190
Spring Hill Mall L.L.C.		09-12279		236
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		1,524
Summerlin Centre, LLC		09-12284		1,514

29

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		March 31, 2010
			(In thousands)
Summerlin Corporation		09-12285		—
Three Rivers Mall L.L.C.		09-12286		229
Three Willow Company, LLC		09-12287		—
Town East Mall, LLC		09-12288		1,950
Tracy Mall, Inc.		09-12289		—
Tracy Mall Partners, L.P.		09-12290		752
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		61
Two Willow Company, LLC		09-12296		—
Tysons Galleria L.L.C.		09-12297		2,369
U.K.-American Properties, Inc.		09-12298		1,598
Valley Hills Mall, Inc.		09-12299		—
Valley Plaza Anchor Acquisition, LLC		09-12300		—
VCK Business Trust		09-12301		545
Victoria Ward Center L.L.C.		09-12302		386
Victoria Ward Entertainment Center L.L.C.		09-12303		147
Victoria Ward, Limited		09-12304		1,505
Victoria Ward Services, Inc.		09-12305		—
Village of Cross Keys, LLC, The		09-12306		148
Visalia Mall L.L.C.		09-12307		—
Vista Commons, LLC		09-12308		44
Visalia Mall, L.P.		09-12309		536
Vista Ridge Mall, LLC		09-12310		978
VW Condominium Development, LLC		09-12311		—
Ward Gateway-Industrial-Village, LLC		09-12312		186
Ward Plaza-Warehouse, LLC		09-12313		223
Weeping Willow RNA, LLC		09-12314		—
West Kendall Holdings, LLC		09-12315		514
Westwood Mall, LLC		09-12316		101
White Marsh Mall, LLC		09-12317		—
White Mountain Mall, LLC		09-12318		54
Willow SPE, LLC		09-12319		—
Willowbrook II, LLC		09-12320		—
Willowbrook Mall, LLC		09-12321		1,920
Woodbridge Center Property, LLC		09-12322		2,241
Woodlands Mall Associates, LLC, The		09-12323		1,990
10000 Covington Cross, LLC		09-12324		4

30

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		March 31, 2010
			(In thousands)
10 CCC Business Trust		09-12457		44
20 CCC Business Trust		09-12458		66
30 CCC Business Trust		09-12459		81
Capital Mall L.L.C.		09-12462		256
GGP-Columbiana Trust		09-12464		235
GGP-Gateway Mall L.L.C.		09-12467		550
Grand Traverse Mall Partners, LP		09-12469		705
Greenwood Mall L.L.C.		09-12471		599
Kalamazoo Mall L.L.C.		09-12472		572
Lancaster Trust		09-12473		3,485
Mondawmin Business Trust		09-12474		916
Running Brook Business Trust		09-12475		2
Town Center East Business Trust		09-12476		59
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		—
			$	307,046

31

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)

	March 31, 2010
	(In thousands)
Current	$	(32,758)	*
31 - 60 days		6,679
61 - 90 days		5,786
91 - 120 days		4,558
Over 120 days		46,313
Gross Amount	$	30,578

* In general, reflects tenant rents paid in advance.

32

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

SCHEDULE VII
STATUS OF MORTGAGES PAYABLE FOR DEBTORS
(UNAUDITED)

								Interest Expense
						Total Debt Balance		Month Ended
Property	Maturity Date		Rate (a)			March 31, 2010		March 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		1/13/2017		6.99	%		8,320		48
Ala Moana A1		6/30/2018		5.60	%		1,183,198		5,708
Ala Moana A2		6/30/2018		5.52	%		298,991		1,422
Augusta Mall		11/10/2017		5.49	%		174,422		824
Baltimore Center Garage Ltd Partnership		6/1/2018		6.05	%		14,853		75
Bay City		12/2/2013		5.30	%		23,745		108
Bayshore		8/31/2016		7.13	%		30,473		181
Beachwood Place		4/7/2011		5.60	%		240,164		1,158
Bellis Fair		2/14/2018		7.34	%		59,826		366
Boise Towne Plaza		7/9/2015		4.70	%		10,704		43
Boise Towne Square		8/11/2017		6.64	%		69,489		397
Brass Mill		4/10/2016		4.55	%		120,142		471
Burlington		7/1/2015		5.03	%		25,906		112
Burlington 2 (*)		7/1/2010		6.30	%		5,500		30
Capital		10/1/2014		7.28	%		19,975		125
Chapel Hills		10/11/2010		5.04	%		113,785		493
Chico Mall		2/11/2009		4.74	%		55,913		228
Collin Creek Mall		7/9/2016		6.78	%		65,884		384
Columbia Mall (MO)		5/3/2017		6.05	%		89,807		468
Coronado		12/6/2016		5.08	%		166,028		726
Corporate Pointe 2 (10650 W. Charleston)		3/12/2016		6.83	%		4,458		26
Corporate Pointe 3 (10750 W. Charleston)		3/12/2016		6.83	%		4,458		26
Country Hills		6/1/2016		6.04	%		13,352		69
Crossroads Center (MN)		1/30/2014		4.73	%		82,754		337
Deerbrook		1/1/2014		3.46	%		71,202		212
Eagle Ridge		10/12/2015		5.41	%		46,942		218
Eastridge (CA)		8/31/2017		5.79	%		169,620		845
Eastridge (WY )		12/4/2016		5.08	%		38,497		168
Eden Prairie		9/30/2014		4.67	%		78,311		315
Fallbrook		1/3/2018		6.14	%		84,820		448
Faneuil Hall		9/30/2016		5.57	%		92,788		445
Fashion Place		4/5/2014		5.30	%		142,255		649
Four Seasons		6/11/2017		5.60	%		97,950		472
Fox River		9/3/2016		5.96	%		194,400		998
Gallery at Harborplace 1 (Baltimore Center Land, Garage & Office)		6/1/2014		7.89	%		63,659		434
Gateway		10/1/2014		7.28	%		39,148		245
Gateway Overlook		8/30/2016		5.78	%		54,877		273
Glenbrook		12/30/2016		4.91	%		174,262		737
Grand Canal Shoppes		5/1/2014		4.78	%		386,487		1,591
Grand Traverse		10/1/2012		5.02	%		83,919		362
Greenwood		10/1/2014		7.28	%		43,952		276
Harborplace		4/5/2016		5.79	%		49,844		249
Homart I (*)		2/28/2013		5.95	%		245,115		1,256
Hulen Mall		6/7/2015		5.03	%		111,085		481
Ivanhoe Capital (*)		12/03/12		5.74	%		93,713		463
Jordan Creek		3/2/2014		4.57	%		182,227		716
JP Comm Jr. Gateway Crossing		1/7/2014		4.70	%		14,931		60
JP Comm Jr. Univ. Crossing		1/7/2014		4.70	%		11,147		45
JP Comm Sr. Austin Bluffs		1/1/2014		4.40	%		2,219		8
JP Comm Sr. Division Crossing		1/1/2014		4.40	%		5,114		19
JP Comm Sr. Fort Union		1/1/2014		4.40	%		2,670		10
JP Comm Sr. Halsey Crossing		1/1/2014		4.40	%		2,503		9
JP Comm Sr. Orem Plaza Center St		1/1/2014		4.40	%		2,386		9
JP Comm Sr. Orem Plaza State St		1/1/2014		4.40	%		1,477		6
JP Comm Sr. Riverpointe Plaza		1/1/2014		4.40	%		3,696		14
JP Comm Sr. Riverside Plaza		1/1/2014		4.40	%		5,290		20
JP Comm Sr. Woodlands Village		1/1/2014		4.40	%		6,758		26
Knollwood		10/10/2017		5.35	%		39,332		181
Lakeside Mall		6/1/2016		4.28	%		176,810		652
Lakeview Square		3/1/2016		5.81	%		40,771		204
Lansing I		1/1/2014		9.35	%		23,081		183
Lincolnshire Commons		9/30/2016		5.98	%		27,939		144
Lynnhaven		7/6/2015		5.05	%		233,105		1,014
Maine		12/10/2016		4.84	%		212,597		885
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

33

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)

								Interest Expense
						Total Debt Balance		Month Ended
Property	Maturity Date		Rate (a)			March 31, 2010		March 31 (b)
						(Dollars in thousands)
Mall of Louisiana Note B		4/1/2011		5.92	%		54,362		277
Mall St Matthews Ltd Partnership		1/1/2014		4.81	%		142,008		588
Mall St Vincent		7/7/2014		6.30	%		49,000		266
Market Place		5/3/2017		6.05	%		105,773		551
Moreno Valley		9/11/2013		5.96	%		86,432		443
Newgate		4/1/2014		4.84	%		40,207		168
Newpark		8/2/2014		7.45	%		67,143		431
North Point		2/29/2016		5.48	%		212,567		1,004
North Star		1/4/2015		4.43	%		228,174		870
Northgate		9/1/2016		5.88	%		44,440		225
Northridge Fashion		12/30/2014		7.24	%		124,232		750
Oglethorpe		7/2/2015		4.89	%		138,994		585
Oviedo		5/7/2012		5.12	%		51,066		225
Oxmoor		12/2/2016		6.85	%		56,128		331
Park City Note A		4/1/2014		4.74	%		117,695		480
Park City Note B		4/1/2014		7.10	%		28,827		176
Park Place		1/11/2015		5.15	%		173,397		769
Peachtree		6/1/2015		5.08	%		88,121		385
Pecanland		1/1/2014		4.28	%		56,159		207
Piedmont		9/6/2016		5.98	%		33,478		172
Pine Ridge		12/4/2016		5.08	%		25,956		114
Prince Kuhio		1/1/2014		3.45	%		36,885		110
Providence Place 2		3/11/2015		5.03	%		249,276		1,079
Providence Place 3 (*)		3/11/2015		5.12	%		52,514		231
Providence Place 4 (*)		3/11/2015		5.93	%		34,447		176
Providence Place Pilot A1		7/1/2016		7.75	%		22,338		144
Providence Place Pilot A2		6/30/2028		7.75	%		23,116		149
Red Cliffs		12/4/2016		5.08	%		24,669		108
Regency Square		7/1/2015		3.59	%		91,588		283
Ridgedale		9/30/2016		4.86	%		175,127		733
River Hills		1/3/2018		6.14	%		79,831		422
RiverTown Junior Loan (*)		12/30/2014		9.15	%		15,579		119
RiverTown Senior Loan		12/30/2014		7.29	%		100,369		610
Rogue Valley		7/1/2014		7.85	%		25,966		176
Sikes Senter		6/1/2017		5.20	%		60,395		270
Sooner Fashion		1/3/2018		6.14	%		59,873		316
Southlake		12/1/2019		6.44	%		99,799		553
Southland		1/1/2014		3.62	%		79,325		247
Southland (RSE)		3/5/2010		4.97	%		106,940		458
St. Louis Galleria		1/3/2017		4.86	%		233,390		976
Staten Island 1		10/1/2015		5.09	%		85,000		367
Staten Island 2		10/1/2015		8.15	%		68,672		475
Staten Island 3		10/1/2015		5.61	%		125,000		584
Steeplegate		8/1/2014		4.94	%		76,505		326
Stonestown Note A		9/1/2011		5.85	%		155,600		784
Stonestown Note B		9/1/2011		5.65	%		60,000		292
Stonestown Mezz (*)		9/1/2011		5.79	%		57,400		286
The Boulevard		7/1/2018		4.27	%		105,345		388
The Crossroads (MI)		1/1/2014		7.40	%		39,074		249
The Woodlands Note A		6/12/2016		5.91	%		184,436		939
The Woodlands Note B		6/12/2016		5.91	%		54,832		279
Three Rivers		12/4/2016		5.08	%		21,132		92
Town East		1/1/2014		3.46	%		102,775		306
Tucson Mall		1/1/2014		4.26	%		114,758		421
Tucson Mall — Hyper Am		1/1/2014		4.26	%		3,916		14
Tysons Galleria		9/11/2017		5.72	%		254,194		1,253
Valley Hills		3/4/2016		4.73	%		55,775		227
Valley Plaza		1/10/2016		3.90	%		93,129		313
Victoria Ward (Village/Industrial/Gateway)		9/30/2016		5.61	%		88,214		426
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		1/1/2014		3.78	%		40,253		131
Vista Ridge		4/10/2016		6.87	%		78,869		452
Ward Centre & Ward Entertainment		1/1/2014		4.33	%		57,175		213
Washington Park		3/31/2016		5.35	%		11,893		55
West Valley		1/1/2014		3.43	%		54,543		161
White Marsh		9/1/2016		5.62	%		186,800		876
Willowbrook Mall		6/30/2016		6.82	%		155,974		916
Woodbridge Corporation		6/1/2014		4.24	%		203,884		745

34

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)

									Interest Expense
						Total Debt Balance			Month Ended
Property	Maturity Date		Rate (a)			March 31, 2010			March 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			1,333
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						$	16,346,121		$	75,067
Variable Rate Loans
Secured Asset Loans:
Bank Note — Animas Valley		7/11/2013		2.48	%		35,054			75
Bank Note — Birchwood Mall		7/11/2013		2.48	%		44,308			95
Bank Note — Cache Valley		7/11/2013		2.48	%		28,043			60
Bank Note — Colony Square		7/11/2013		2.48	%		25,239			54
Bank Note — Columbiana		7/11/2013		2.48	%		105,441			225
Bank Note — Fallen Timbers		7/11/2013		2.48	%		42,401			91
Bank Note — Foothills		7/11/2013		2.48	%		50,758			108
Bank Note — Grand Teton		7/11/2013		2.48	%		48,795			104
Bank Note — Mall at Sierra Vista		7/11/2013		2.48	%		23,556			50
Bank Note — Mall of the Bluffs		7/11/2013		2.48	%		35,951			77
Bank Note — Mayfair		7/11/2013		2.48	%		274,932			587
Bank Note — Mondawmin		7/11/2013		2.48	%		84,689			181
Bank Note — North Plains		7/11/2013		2.48	%		10,656			23
Bank Note — North Town Mall		7/11/2013		2.48	%		114,976			245
Bank Note — Oakwood		7/11/2013		2.48	%		75,772			162
Bank Note — Owings Mills		7/11/2013		2.48	%		53,281			114
Bank Note — Pierre Bossiere		7/11/2013		2.48	%		40,382			86
Bank Note — Pioneer Place		7/11/2013		2.48	%		156,764			335
Bank Note — Salem Center		7/11/2013		2.48	%		41,728			89
Bank Note — Silver Lake Mall		7/11/2013		2.48	%		18,228			39
Bank Note — Southwest Plaza		7/11/2013		2.48	%		96,187			205
Bank Note — Spring Hill		7/11/2013		2.48	%		68,088			145
Bank Note — Westwood Mall		7/11/2013		2.48	%		24,117			51
Bank Note — White Mountain		7/11/2013		2.48	%		10,656			23
Fashion Show		3/15/2009		6.27	%		645,918			3,487
Oakwood Center		3/16/2009		1.77	%		95,000			145
Palazzo		3/15/2009		6.27	%		249,623			1,348
Unsecured Asset Loans:
DIP (c)		3/16/2011		13.50	%		400,000			4,650
GGPLP/GGPLPLLC Revolver (*)		2/24/2010		1.48	%		590,000			752
GGPLP/GGPLPLLC Senior Term (*)		2/24/2010		1.48	%		1,987,500			2,533
TRUPS (*)(d)		4/30/2036		1.70	%		206,200			302
Variable Rate Debt							5,684,243			16,441
Total Debt — All Debtors						$	22,030,364	(e)	$	91,508

(a)	Reflects the variable contract rate as of March 31, 2010
(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 Exchangeable Debt, adjustments related to emergence from bankruptcy and purchase accounting mark-to-market adjustments.

35

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

SCHEDULE VIII
CHAPTER 11 RETAINED PROFESSIONALS DETAIL
(UNAUDITED)

					Expense		Cash Paid
	Period Expense		Cash Paid		Cumulative Post-Petition		Cumulative Post-Petition
	Month Ended		Month Ended		Period Ended		Period Ended
Name	March 31, 2010		March 31, 2010		March 31, 2010		March 31, 2010
					(In thousands)
Akin Gump Strauss Hauer & Feld, LLP	$	993	$	744	$	12,308	$	7,375
AlixPartners, LLP		1,867		1,038		16,440		9,049
Assessment Technologies		—		—		29		25
Baker & Daniels LLP		—		—		—		—
Bracewell Giuliani		89		—		1,703		902
Calvo & Clark LLP		—		—		—		—
Cushman & Wakefield		283		27		1,761		1,384
Deloitte & Touche LLP		333		245		4,524		1,788
Deloitte Tax LLP		42		115		626		380
Epiq Solutions		—		1		17		15
Ernst & Young LLP		118		54		960		576
FTI Consulting		105		85		2,961		1,848
Grant Thornton		1		—		22		12
Halperin Battaglia Raicht LLP		56		18		183		90
Hewitt Associates		—		—		586		—
Houlihan Lokey		1,121		224		9,344		1,909
Hughes Hubbard & Reed LLP		170		—		170		—
Jenner & Block		—		143		1,595		1,071
Kirkland & Ellis LLP (1)		2,144		3,099		22,445		12,716
KPMG LLP		70		—		70		—
Kurtzman Carson Consultants LLC		443		1,108		4,398		3,602
Miller Buckfire & Co LLC (1)		3,354		290		14,439		5,053
PricewaterhouseCoopers		18		74		148		74
Saul Ewing LLP		591		519		1,947		519
Silverstein & Pomerantz LLP		—		—		—		—
UBS Securities		470		—		470		—
Weil, Gotshal & Manges LLP (1)		8,795		1,761		30,723		13,813
Total	$	21,063	$	9,545	$	127,869	$	62,201
Professional Fees Summary (See Note 7)
Restructuring costs	$	19,319	$	8,909	$	116,368	$	56,493
General & administrative		1,702		142		9,280		2,887
Other(2)		42		494		2,221		2,821
Total	$	21,063	$	9,545	$	127,869	$	62,201

(1)

The amount paid to Miller Buckfire & Co LLC (“Miller Buckfire”) includes $4.0 million related to financing fees for the DIP Facility (see Note 1) which were capitalized. Additionally, the return of a retainer fee from Miller Buckfire, Kirkland & Ellis, and Weil to GGP of $1.3, $0.6, and $0.6 million from each Firm, respectively, is also included in cash payments as a refund in the cash paid cumulative post-petition amounts.

(2)

The amounts included in Other Professional Fees relate to expenses incurred for Retained Professionals not classified as restructuring or general & administrative costs.

36

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 MARCH 31, 2010

		Date and Transaction
Debtor	Property	Description	Counterparty	Consideration
				(In thousands)
GGP Natick Residence LLC	Condominium Unit #1008 Natick, MA	Condominium Unit Sale 3/01/10	Parth Desai, et al.	$	364
GGP Natick Residence LLC	Condominium Unit #1044 Natick, MA	Condominium Unit Sale 3/05/10	Patrick Fung and Cynthia Kwan-Fung	$	564
GGP Natick Residence LLC	Condominium Unit #913 Natick, MA	Condominium Unit Sale 3/24/10	Mark H and Michele G. Kaizerman	$	510
GGP Natick Residence LLC	Condominium Unit #930 Natick, MA	Condominium Unit Sale 3/24/10	Ling Ling and Hsiang-Tung Kung	$	409
GGP Natick Residence LLC	Condominium Unit #941 Natick, MA	Condominium Unit Sale 3/31/10	Eduardo Ribeiro	$	542
GGP Natick Residence LLC	Condominium Unit #934 Natick, MA	Condominium Unit Sale 3/31/10	Zhaoquing Zhou and Meng Xi	$	312
GGP Natick Residence LLC	Condominium Unit 16, Village Way #5 Natick, MA	Condominium Unit Sale 3/25/10	Luz Marina Franco	$	135
GGP Natick Residence LLC	Condominium Unit 3, Village Way #4 Natick, MA	Condominium Unit Sale 3/26/10	Jennifer Monaco	$	135
THHC	Summerlin Village 20, Alta & 215, Lot 10	3/18/10 - Easement and Rights of way (Pipeline Construction and Maintenance)	Las Vegas Valley Water District		—

37

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

Reporting Period: March 31, 2010

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
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	(3)
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 $8.7 million has been paid in the reporting period 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 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 $17.2 million.
(3)	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.

38