Simon Property Group, Inc. http://www.alacrastore.com/company-snapshot/Simon_Property_Group_Inc-1075705 Friday, July 25, 2008 11:22:17 PM 1075705 Simon Property Group, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/ccbn/T1820316ccbn/T1820316norm...Good morning everybody. We're going to go ahead and get started here. Welcome again I guess to the second slot in the #### Credit Suisse Global Real Estate Conference. We have Simon Property Group with us today, Steve Sterrett, the Chief Financial Officer. We're going to open it up first with five to ten minutes of just introductory remarks, then we will start with the Q&A. I will get things kicked off and then we will open it up to the audience. ... 7/16/2008 5:11:11 PMSimon Property Group, Inc.54.0000Simon Property Group, Inc. at Credit Suisse Group Global Real Estate ConferenceSPG8:40AM ETTranscriptT1820316Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/71254cs/71254norm REIT Liquidity: Refinancing Needs Modest, Credit Lines Ample We examined the unsecured bond maturity schedule of the broad U.S. equity REIT universe as well as our specific coverage to determine refinancing needs for the balance of...712541060YesD0Article588594128560116866045856005845975905961432592599corp2833Capital Structure34Companies with Convertibles7/7/2008 10:09:00 PM150REIT refinancing needs are modest over the balance of 2008 but accelerate in 2009. Credit line capacity is ample after some house cleaning in 1H08.71254Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/T1868104ccbn/T1868104norm... - Stifel Nicolaus - AnalystGood morning. My name is David Fick. I am with Stifel Nicolaus, analyst covering Simon Property Group who is representing today. To my immediate left is Steve Sterrett, the Company's Chief Financial Officer. And to my far left is David Simon, the Company's CEO. I thought I would just kind of throw it open at first for you guys to make some general comments about your business and the mall business. Obviously everybody is worried about the consumer and the impact of a stressed consumer on your retail tenants. Just finished ICSC, and maybe you can make some comments there also. ... 6/5/2008 1:12:00 PMSimon Property Group, Inc.54.0000FinalSimon Property Group, Inc. at National Association of Real Estate Investment Trusts Investor Forum TranscriptSPG10:15am ETTranscriptT1868104Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/70053cs/70053norm Simon Property Group #Q## Tearsheet SPG is the largest publicly held REIT and the only major one with low A ratings at all three rating agencies.SPG's geographic diversity, dominant re-leasing spreads, and improving fundamentals sufficiently...70053543YesC21Tearsheet585tearsheets/premium286/2/2008 3:11:26 PM15070053Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/69687cs/69687norm REIT Leases: Expiration Trepidation With a consumer-led slowdown facing corporate America, we decided to look at the lease expiration schedules of major REITs to determine which had the largest exposures to expiring leases over the...696871955YesD0Article128560160458816865855941432590584592corp2842High Yield54Euro Markets Issuers34Companies with Convertibles33Capital Structure5/27/2008 11:12:00 PM150We examined the REITs' lease expiration schedules to determine the largest exposures to near-term expiring leases. The current macroeconomic conditions could result in a slowdown in rent growth which could impact many top line growth.69687Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/69360cs/69360norm REIT #Q## Earnings Review: A Return to Normalcy But Uncertainty Remains The technical impact of the credit crisis on REIT spreads has largely subsided, leaving industry fundamentals as the main driver of REIT credit going forward. ...693604343YesD0Article601588584128559416866045856005925961432597590599corphy2854Euro Markets Issuers67Earnings Reports - Financials42High Yield33Capital Structure34Companies with Convertibles5/19/2008 6:53:00 PM150REIT results continue to be solid but the next few quarters could indicate a new regime for top line growth. We comment on our fundamental credit recommendations as well as relative value in the sector.69360Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/648965spcred/648965normThe latest Full Report from S&Pglobalstructured5/19/2008 1:18:43 PM400Full Report648965United StatesRetail REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesFull ReportSimon Property Group Inc. (Simon) is the largest U.S. REIT with an extensive, well-diversified portfolio including interests in many of the nation's top regional malls and outlet centers; Solid operating performance that we expect to remain relatively stable; and Solid financial position and flexibility with good coverage of fixed charges and all dividends. A moderately leveraged balance sheet; and The company tends to have a more aggressive and opportunistic appetite for growth through large acquisitions and development, which could include nonretail projects. The ratings acknowledge the continued solid operating performance of Simon's well-diversified portfolio, which includes many of the nation's top regional mall and outlet centers, and the company's strong market position as the largest operator within the highly concentratedUSA78462M82880640402060 404020 4040 40Simon Property Group, Inc307671EUROMIDAFRUSASPGFULLUSA12616F16326316342122002778462M82878182878382878E82880682880740402060 404020 4040 40Chelsea Property Group Inc.SPG Properties Inc.Simon Property Group, L.P.Retail Property Trust (The)CPG Partners L.P.329724318086301869304223307672ASIAEMERGINGLATAMERICAUSA12968ZCCG92679ZCPGGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/648809spcred/648809normThe latest Summary from S&Pglobalstructured5/16/2008 3:39:04 PM175Summary648809United StatesRetail REIT'sEurope, Middle East, AfricaUnited StatesGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesSummaryThe ratings on Simon Property Group Inc. acknowledge the continued solid operating performance of Simon's well-diversified portfolio, which includes many of the nation's top regional mall and outlet centers, and the company's strong market position as the largest operator within the highly concentrated U.S. mall sector. In addition, the company's operating cash comfortably covers all fixed-charge obligations including dividends. The ratings also reflect the substantially completed integration of The Mills Corp. (Mills), which was acquired in March 2007 in a 50% joint-venture transaction (total value of roughly $7.9 billion). These strengths are tempered by a moderately leveraged balance sheet and Simon's generally more aggressive appetite for growth, including large acquisitions and a potentially significant longer-term development pipeline. Simon's first-quarter 2008USA78462M82880640402060 404020 4040 40Simon Property Group, Inc307671EUROMIDAFRUSASPGSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/384762_report_framefitch/384762_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.AMB Property CorporationApartment Investment & Management CoBoston Properties, Inc.BRE Properties, Inc.Camden Property TrustCentro NP LLCColonial Properties TrustDevelopers Diversified Realty CorporationDuke Realty CorporationEastGroup PropertiesEquity Residential Properties TrustGeneral Growth Properties, Inc.HCP, Inc.Health Care REIT, Inc.Healthcare Realty Trust Inc.Highwoods Properties, Inc.Home Properties Inc.Host Hotels & Resorts IncIrvine Apartment Communities, LPiStar Financial Inc.Liberty Property TrustMack-Cali Realty CorporationNational Retail Properties, Inc.Pennsylvania Real Estate Investment TrustProLogisPS Business Parks, Inc.Public Storage, Inc.Realty Income CorporationReckson Operating Partnership, L.P.Regency Centers CorporationSimon Property Group, Inc.Sovran Self Storage, Inc.Thornburg Mortgage Inc.Urstadt Biddle PropertiesVentas, Inc.10100006928008944480089445800894938008990580089924800900788009042680090603800918088009181080091811800918148009181580091816800918228009182580091827800918288009183480091836800921128041062080681518808144028082065180908478812234878164991581945745819515198195257981954939819625408197052183497866839180665/1/2008 2:10:00 PM01000000010102100103000001032100275NewsletterAIVAMBBREBXPCLICLPCPTDDRDREEGPEQRGGPHCNHCPHIWHMEHRHSTLRYNNNOPEIPLDPSAPSBREGSFISPGSSSTMAUBAVTR384762_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/cs/68514cs/68514norm Earnings Note: Simon Property #Q## - Retail REIT Rally Simon Property Group beat the consensus FFO estimate by $#.## Results for the quarter were solid driven by good operating results in all five business platforms (regional malls,...685141507YesD0Article585corp2867Earnings Reports - Financials4/29/2008 11:12:46 PM150SPG beat consensus on strength across all franchises and declining LIBOR rates. We continue to favor SPG though we see less value in spreads after the dramatic tightening of the past month or two.68514Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/ccbn/B1802010ccbn/B1802010norm...Growth in FFO was achieved despite the fact that share of lease termination settlements was more than $#m lower in #Q## than in #Q##. ... 4/29/2008 1:12:00 PMSimon Property Group, Inc.54.0000EditedQ1 2008 Simon Property Group, Inc. Earnings Conference Call SummarySPG11:00am ETBriefB1802010Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/ccbn/T1802010ccbn/T1802010norm...Good day, ladies and gentlemen. Welcome to the first quarter #### Simon Property Group earnings conference call. My name is Shawn and I will be your coordinator for today. At this time, all participants in a listen-only mode. We'll be facilitating a question-and-answer session towards the end of this conference. (OPERATOR INSTRUCTIONS) I would now like to turn the presentation over to your host for today's call, Miss Shelly Doran, Vice President of Investor Relations. Please proceed. ... 4/29/2008 1:12:00 PMSimon Property Group, Inc.54.0000FinalQ1 2008 Simon Property Group, Inc. Earnings Conference Call TranscriptSPG11:00am ETTranscriptT1802010Credit & Investment ResearchThomson Street Eventshttp://www.alacrastore.com/storecontent/cs/68144cs/68144norm REIT Handbook April #### We are pleased to introduce our CreditSights REIT Investor Handbook, a comprehensive overview of the sector and companies on our coverage list. In addition to our investment thesis, we present a REIT investment...68144711YesC0Article588594128560116866045856005845975905961432592599corp2833Capital Structure54Euro Markets Issuers4/22/2008 11:11:00 PM150We are pleased to introduce our CreditSights REIT Investor Handbook, a comprehensive overview of the sector and companies on our coverage list.68144Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/643415spcred/643415normThe latest News from S&Pglobalstructured4/17/2008 3:29:18 PM100News643415United StatesRetail REIT'sUnited StatesEurope, Middle East, AfricaGlobal IssuersStructured FinanceCorporationsReal Estate CompaniesNewsNEW YORK (Standard&Poor's) April 17, 2008--Standard&Poor's Ratings Services today affirmed its 'A-' corporate credit ratings assigned to Simon Property Group Inc. (Simon) and its related entities. In addition, we affirmed our ratings on all of the company's rated unsecured debt and preferred securities, affecting roughly $9.5 billion in unsecured debt. The outlook is stable. "The affirmations acknowledge the continued solid operating performance of Simon's well-diversified portfolio, which includes many of the nation's top regional mall and outlet centers, and the company's strong market position as the largest operator within the highly concentrated U.S. mall sector," said credit analyst Linda Phelps. "The ratings also reflect the substantially completed integration of The Mills Corp., which was acquired inUSA78462M82880640402060 404020 4040 40Simon Property Group, Inc307671USAEUROMIDAFRSPGNEWSGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/643416spcred/643416normThe latest Research Update from S&Pglobalstructured4/17/2008 3:29:18 PM175Research Update643416United StatesRetail REIT'sUnited StatesEurope, Middle East, AfricaGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesResearch UpdateOn April 17, 2008, Standard&Poor's Ratings Services affirmed its 'A-' corporate credit ratings assigned to Simon Property Group Inc. (Simon) and its related entities. In addition, we affirmed our ratings on all of the company's rated unsecured debt and preferred securities, affecting roughly $9.5 billion in unsecured debt. The outlook is stable (see list). The rating affirmations acknowledge the continued solid operating performance of Simon's well-diversified portfolio, which includes many of the nation's top regional mall and outlet centers, and the company's strong market position as the largest operator within the highly concentrated U.S. mall sector. In addition, the company's operating cash comfortably covers all fixed-charge obligations including dividends. The ratings also reflect the substantially completed integration ofUSA78462M82880640402060 404020 4040 40Simon Property Group, Inc307671USAEUROMIDAFRSPGRESUPDUSA12616F16326316342122002778462M82878182878382878E82880682880740402060 404020 4040 40Retail Property Trust (The)Simon Property Group, L.P.SPG Properties Inc.CPG Partners L.P.Chelsea Property Group Inc.329724301869304223307672318086ASIAEMERGINGLATAMERICAUSACPGCCG12968Z92679ZGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/417337_pr_framefitch/417337_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Simon Property Group, Inc.Simon Property Group, L.P.80410620804117684/16/2008 6:22:00 PM0101021085Press ReleaseSPG417337_pr_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/382762_report_framefitch/382762_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Simon Property Group, Inc.Simon Property Group, L.P.80410620804117684/16/2008 2:07:00 PM01010210425Full Rating ReportSPG382762_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/fitch/381080_report_framefitch/381080_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Apartment Investment & Management CoGeneral Growth Properties, Inc.HCP, Inc.Simon Property Group, Inc.800918108009181680092112804106204/2/2008 11:01:00 AM01010210275Special ReportAIVGGPHCPSPG381080_report_frameCredit & Investment ResearchFitchResearchhttp://www.alacrastore.com/storecontent/cs/66436cs/66436norm Simon Property Group #Q## Tearsheet SPG achieved low-A status at S&P in #Q##, at Moody's in #Q##, and at Fitch in #Q##. The company is the largest publicly held REIT and the only major one with low A ratings at all three rating agencies.SPG's...66436489YesC21Tearsheet585tearsheets/premium283/27/2008 10:23:38 AM15066436Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/fitch/412173_pr_framefitch/412173_pr_framehtmlFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.Simon Property Group, Inc.Simon Property Group, L.P.80410620804117683/14/2008 2:06:00 PM0101021085Press ReleaseSPG412173_pr_frameCredit & Investment ResearchFitchResearch