SEATTLE - Nordstrom (NYSE: JWN) and Chicago-based General Growth Properties (NYSE: GGP), owners of Alderwood Mall in Lynwood, Washington, announced today that Nordstrom will expand its presence at Alderwood Mall - relocating to the site of the former Lamonts department store. The new two-level store will be 32 percent larger than the current store, growing to approximately 167,000 square feet, and is expected to open in Fall of 2003.

"This is a great opportunity for Nordstrom to bring our Alderwood customers a brand new, larger store and our newest design concepts," said Erik Nordstrom, Executive Vice President and General Manager of the Northwest Nordstrom stores. "This is especially important to our company because we have so many loyal and long-time customers who have shopped with us at Alderwood. It’s a way to thank them for their patronage." Nordstrom Alderwood was the ninth store in Washington when it opened in October of 1979.

The relocation and enlargement of Nordstrom is part of a long range expansion plan for Alderwood Mall. The new store will be constructed at roughly the same location as the former Lamonts building. Meanwhile, General Growth Properties is currently in talks with additional retailers who will take the former Nordstrom site. Demolition of the Lamonts building will begin sometime in Fall of 2001. Nordstrom will remain open in its current location until the new store is completed.

"We are very pleased to include a new and enlarged Nordstrom store as part of our renovation and expansion of Alderwood Mall," said John Bucksbaum, CEO of General Growth Properties. "Alderwood is recognized as one the most productive shopping centers in the Pacific Northwest and it is only fitting that Nordstrom, being one of the most productive retailers in the United States, expand its presence in the marketplace."

While Nordstrom continues to refurbish or relocate select stores in more established markets like Alderwood, the company’s primary focus to expand into other top 50 metropolitan markets. Future store openings include downtown Chicago (2000), Boca Raton, Fla. (2000), Charlotte, NC (2002), St. Louis, Mo. (2002), Houston and downtown Cincinnati (2003). (Editor’s note: For a complete listing of store openings please contact Nordstrom at the number above.)

Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 109 stores located in 23 states, including 72 full-line stores, 31 Nordstrom Racks, three Façonnable boutiques, two free-standing shoe stores, and one clearance store. The company also serves customers through its online presence at http://www.nordstrom.com as well as with direct mail catalogs.

Alderwood Mall is owned and managed by General Growth Properties Inc., the nation’s second largest owner, manager and developer of regional shopping malls. General Growth currently has ownership interests in, or management responsibilities for, a portfolio of 136 regional shopping malls in 37 states. A publicly traded Real Estate Investment Trust (REIT), General Growth Properties is listed on the New York Stock Exchange under the symbol GGP. For more information on Alderwood Mall, visit www.mallibu.com. For more information on General Growth Properties, visit the company website at www.generalgrowth.com.