$$ Offering Completed at $14.75

General Growth Properties, Inc. (NYSE: GGP) today announced the closing of its underwritten public offering of 135,000,000 shares of its common stock at a public offering price of $14.75 per share, less the underwriting discount. GGP also announced the underwriters have exercised their option to purchase additional shares of common stock and will purchase 19,886,000 shares. The closing of the over-allotment option is expected to occur on November 23, 2010, subject to customary closing conditions.

Goldman, Sachs & Co. and Deutsche Bank Securities served as joint global coordinators for the offering. Wells Fargo Securities, RBC Capital Markets, Barclays Capital, UBS Investment Bank and Morgan Stanley served as joint book-running managers for the offering, Macquarie Capital and TD Securities served as senior co-managers and Piper Jaffray served as co-manager.

A registration statement relating to these securities has been filed and declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such

OK…now the clawback of Pershing/Fairholme and Texas teachers as expected. Shareholder reap the benefits of ~$4.25 a share in extra equity for every share clawed back.