GGP (GGP) 8-K Regulation FD Disclosure

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
CASE NO. 09-11977 (Jointly Administered)
Reporting Period: December 31, 2009
Federal Tax I.D. # 42-1283895
CORPORATE MONTHLY OPERATING REPORT
FOR FILING ENTITIES ONLY

I declare under penalties of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

	GENERAL GROWTH PROPERTIES, INC.
Date: March 1, 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 December 31, 2009

Index

Combined Condensed Statements of Income and Comprehensive Income for the Month Ended December 31, 2009 and Cumulative Post-Petition Period Ended December 31, 2009	3
Combined Condensed Balance Sheet	4
Notes to Unaudited Combined Condensed Financial Statements	5
Note 1: Chapter 11 Cases and Proceedings	5
Note 2: Basis of Presentation	6
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 December 31, 2009	11
Schedule II Schedule of Combined Condensed Balance Sheet as of December 31, 2009	12
Schedule III Schedule of Payroll and Payroll Taxes	13
Schedule IV Schedule of Federal, State and Local Taxes	13
Schedule V Schedule of Total Disbursements by Debtor	23
Schedule VI Schedule of Debtors’ Operating Property Aged Tenant Accounts Receivable	33
Schedule VII Status of Mortgages Payable For Debtors	34
Schedule VIII Chapter 11 Retained Professionals Detail	37
Schedule IX Schedule of Non-Noticed andDe MinimisAsset Sales	38
Schedule X Debtors Questionnaire	39

2

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

COMBINED CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)

				Cumulative Post-Petition
	Month Ended			Period Ended
	December 31, 2009			December 31, 2009
	(In thousands, except for
	per share amounts)
Revenues:
Minimum rents	$	143,362		$	1,185,397
Tenant recoveries		62,448			529,661
Overage rents		12,271			36,851
Land sales		446			5,782
Other		10,247			56,142
Total revenues		228,774			1,813,833
Expenses:
Real estate taxes		20,106			167,746
Repairs and maintenance		24,628			141,362
Marketing		5,089			22,867
Ground and other rents		1,508			9,320
Other property operating costs		27,124			235,113
Land sales operations		1,841			13,940
Provision for doubtful accounts		3,204			18,267
Property management and other costs		8,712			72,298
General and administrative		2,768			43,818
Provisions for impairment		721,650			854,977
Depreciation and amortization		47,844			433,463
Total expenses		864,474			2,013,171
Operating income		(635,700	)		(199,338	)
Interest (expense) income, net		(97,160	)		(821,386	)
Loss before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(732,860	)		(1,020,724	)
Provision for income taxes		(6,998	)		(6,414	)
Equity in income of Real Estate Affiliates		(22,581	)		53,138
Reorganization items		209,921			146,190
Loss from continuing operations		(552,518	)		(827,810	)
Net loss		(552,518	)		(827,810	)
Allocation to noncontrolling interests		12,927			10,860
Net loss attributable to common stockholders	$	(539,591	)	$	(816,950	)
Basic and Diluted Loss Per Share:	$	(1.73	)	$	(2.60	)
Dividends declared per share	$	0.19		$	0.19
Comprehensive Loss, Net:
Net loss attributable to common stockholders	$	(539,591	)	$	(816,950	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		2,128			(13,648	)
Accrued pension adjustment		108			(2,762	)
Foreign currency translation		894			79,958
Unrealized gains (losses) on available-for-sale securities		(20	)		7
Other comprehensive income, net		3,110			63,555
Comprehensive loss attributable to common stockholders	$	(536,481	)	$	(753,395	)

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)

COMBINED CONDENSED BALANCE SHEET
(UNAUDITED)

	December 31, 2009
	(Dollars in thousands)
Assets:
Investment in real estate:
Land	$	2,902,580
Buildings and equipment		18,915,748
Less accumulated depreciation		(3,784,278	)
Developments in progress		359,559
Net property and equipment		18,393,609
Investment in and loans to/from Unconsolidated Real Estate Affiliates		384,863
Investment property and property held for development and sale		1,193,559
Investment in controlled non-debtor entities		3,965,039
Net investment in real estate		23,937,070
Cash and cash equivalents		594,086
Accounts and notes receivable, net		335,989
Goodwill		199,664
Deferred expenses, net		231,676
Prepaid expenses and other assets		582,527
Total assets	$	25,881,012
Liabilities and Equity:
Mortgages, notes and loans payable	$	4,679,402
Investment in and loans to/from Unconsolidated Real Estate Affiliates		33,005
Deferred tax liabilities		910,847
Accounts payable and accrued expenses		930,039
Liabilities not subject to compromise		6,553,293
Liabilities subject to compromise		17,767,253
Total liabilities		24,320,546
Redeemable noncontrolling interests:
Preferred		120,756
Common		86,077
Total redeemable noncontrolling interests		206,833
Commitments and Contingencies		—
Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—
Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,831,411 shares issued as of December 31, 2009		3,138
Additional paid-in capital		3,729,453
Retained earnings (accumulated deficit)		(2,315,888	)
Accumulated other comprehensive loss		(425	)
Less common stock in treasury, at cost, 1,449,939 shares as of December 31, 2009		(76,752	)
Total stockholder’s equity		1,339,526
Noncontrolling interests in consolidated real estate affiliates		14,107
Total equity		1,353,633
Total liabilities and equity	$	25,881,012

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 during the Chapter 11 Cases 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 and cash collateral. We have filed a motion to extend the exclusivity period for us to file a plan until August 26, 2010 and to solicit acceptances of such plan to October 26, 2010. Our motion is currently scheduled to be heard by the Bankruptcy Court on March 3, 2010. Pending entry on order on our motion, the Bankruptcy Court has entered a bridge order extending the exclusivity period until the date that is 7 days following the date on which an order on our extension motion is entered. If an order entered by the Bankruptcy Court granting our extension motion, it will supersede the bridge order. If the Bankruptcy Court denies our extension motion, the Company will have 7 days following the entry of an order related to the March 3 hearing before exclusivity expires. If we do not file a plan of reorganization for the 2010 Track Debtors prior to the lapse of the exclusivity period, any party in interest would be able to file a plan of reorganization for any of the 2010 Track Debtors.

During December 2009 and January and February 2010, 231 Debtors (the “Track 1 Debtors”) owning 119 properties with $12.33 billion of secured mortgage loans filed consensual plans of reorganization (the “Track 1 Plans”). As of December 31, 2009, 113 Debtors owning 50 properties with approximately $4.65 billion secured debt emerged from bankruptcy (the “Track 1A Debtors”). Effectiveness of the plans of reorganization and emergence from bankruptcy of the remaining Track 1 Debtors (the “Track 1B Debtors”) continued through February 2010 and is expected to be completed in the first quarter of 2010. In such regard, through February 26, 2010, an additional 92 Debtors owning 57 properties with approximately $5.98 billion of secured mortgage debt emerged from bankruptcy. 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 but also certain operating property Debtors, (collectively, the “2010 Track 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.

5

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

GGP is continuing to pursue consensual restructurings for the thirty-one Debtors (the “Remaining Secured Debtors”) with the remaining four secured loans aggregating $2.50 billion secured by twenty-seven operating properties.

On December 18, 2009, the Bankruptcy Court approved the payment of a $0.19 per share dividend to holders of record of GGP common stock on December 28, 2009 as declared by the GGP Board of Directors to allow GGP to satisfy the REIT dividend distribution requirements for 2009. The dividend was paid on January 28, 2010 in a combination of approximately $5.9 million in cash and approximately 4.9 million shares of common stock (with a valuation of $10.8455 calculated based on the volume weighted average trading prices of GGP’s common stock on January 20, 21 and 22, 2010).

NOTE 2 Basis of Presentation

The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements for Chapter 11 debtors as required by the Office of the United States Trustee (the “U.S. Trustee”) and the Bankruptcy Court. As a result, only relevant financial information for the Debtors has been included in the information presented in the Monthly Operating Report. Accordingly, a significant number of legal entities owned and controlled by GGP, and the related assets, liabilities and operating results of such entities, have been excluded from this Monthly Operating Report as such entities are operating outside of the provisions of Chapter 11. The Debtors’ ownership interest in such excluded entities (the “Non-Debtors”) has been reflected as investment in controlled Non-Debtors at the Debtors’ ownership share (typically 100%). In addition, the applicable earnings/loss of such controlled Non-Debtor entities, along with the Debtors’ share of the applicable income/loss of Unconsolidated Real Estate Affiliates, has been included in the equity in income of Real Estate Affiliates. Further, in the Combined Condensed Statement of Income and Comprehensive Income, 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 1A Debtor entities; (2) liabilities incurred after the Petition Date; (3) pre-Petition Date liabilities that the Track 1B Debtors and the 2010 Track 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).

6

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

Unsecured liabilities not subject to compromise as of December 31, 2009 with respect to the Track 1A 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 1A Debtor mortgage loans should be recorded at their estimated Fair Value upon emergence. A discount of approximately $342.2 million was recorded on such $4.65 billion of secured debt, with the resulting gain classified as a reorganization item. Similar gains will be recorded in the first quarter of 2010 with respect to the $7.69 billion of mortgage loans related to the remaining Track 1 Debtors that have emerged or will emerge from bankruptcy in 2010.

The unaudited financial statements for the Debtors contained in this Monthly Operating Report have been derived from the books and records of the Company. All significant intercompany balances and transactions between the Debtors have been eliminated. All intercompany balances with Non-Debtors are non-interest bearing (except to the extent such bearers are between taxable and non-taxable entities), unsecured, payable on demand and have been reflected as a component of equity. Although the December 31, 2009 information contained in this Monthly Operating Report has been prepared in conjunction with procedures performed to prepare the Company’s year end 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. In addition, 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 been 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”), as certain footnote disclosures that would substantially duplicate those contained in our Annual 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 2009 Annual 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 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 1A Debtors 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.

7

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

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 December 31, 2009, 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 $268.9 million. In addition, as of January 4, 2010, the aggregate cash balance held by the Debtors upon which the first-lien holders have such lien rights was approximately $316.8 million.

All bank accounts, both property specific and centralized, are reconciled monthly. Highly-liquid investments with maturities at dates of purchase of three months or less are classified as cash equivalents. As part of the adequate protection being provided to lenders of the Operating Properties, the Debtors will continue to provide reporting information to those lenders as required by their individual loan agreements. The Debtors have agreed to provide such information to the Office of the United States Trustee on a confidential basis upon reasonable request.

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:

	December 31, 2009
	(In thousands)
Below-market ground leases	$	182,528
Prepaid expenses		81,544
Receivables — finance leases and bonds		80,058
Real estate tax stabilization agreement		71,607
Security and escrow deposits		61,266
Special Improvement District receivable		48,713
Above-market tenant leases		23,647
Deferred tax, net of valuation allowances		18,329
Other		14,835
Total prepaid expenses and other assets	$	582,527

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

	December 31, 2009
	(In thousands)
Utility and other security deposits	$	38,106
Real estate tax escrows		8,420
Operating funds — restricted		6,962
Construction/major maintenance reserves		4,373
Collateralized letters of credit and other credit support		1,909
Other miscellaneous escrows		1,496
Total security and escrow deposits	$	61,266

8

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

The following table summarizes the significant components of accounts payable and accrued expenses of the Debtors. Substantially all amounts included in the unpaid or accrued balances listed below that are considered LTSC are past due at December 31, 2009, as payment of any of such obligations are limited or precluded by the operation of Chapter 11 (see Schedule X).

	December 31, 2009
	(In thousands)
Accounts payable and accrued expenses	$	423,846
Accrued interest		354,135
Construction payable		147,482
Uncertain tax position liabilities		129,413
Accrued payroll and other employee liabilities		97,945
Accrued real estate taxes		68,845
Hughes accrued participation		68,378
Deferred gains/income		59,521
Below-market tenant leases		54,290
Unapplied cash receipts		48,205
Accounts payable to affiliates		(89,181	)
Other		179,168
Total accounts payable and accrued expenses		1,542,047
Less: amounts not subject to compromise		(930,039	)
Total accounts payable and accrued expenses subject to compromise	$	612,008

The following table summarizes the amounts of LSTC (see Note 2) at December 31, 2009:

	(In thousands)
Mortgages and secured notes	$	11,148,467
Unsecured notes		6,006,778
Accounts payable and accrued expenses		612,008
Total liabilities subject to compromise	$	17,767,253

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:

			Cumulative Post-
	Month Ended		Petition Period Ended
General and Administrative Expenses	December 31, 2009		December 31, 2009
	(In thousands)
Insider compensation	$	933	$	9,975
Public Company expense (1)		889		5,703
Travel, entertainment, insurance and other		946		28,140
Total general and administrative	$	2,768	$	43,818

(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:

	Month Ended			Petition Period Ended
Reorganization Items (income) expense	December 31, 2009			December 31, 2009
	(In thousands)
Gains on liabilities subject to compromise(1)	$	(343,957	)	$	(350,692	)
Interest income(2)		(3	)		(34	)
U.S. Trustee fees(3)		268			3,993
Restructuring costs — Chapter 11 Retained Professionals(4)		13,567			74,715
Restructuring costs — including other professional fees(5)		120,204			125,828
Total reorganization items	$	(209,921	)	$	(146,190	)

(1)	This amount primarily relates to a $342.2 million gain that resulted from the required fair value of debt adjustment for the entities that emerged from bankruptcy in December 2009. This amount also includes gains from repudiation, rejection or termination of contracts or guarantee of obligations. In addition, such gains reflect agreements reached with certain critical vendors (as defined), which were authorized by the Bankruptcy Court and for which payments on an installment basis began in July 2009.
(2)	Interest income primarily reflects amounts earned on cash accumulated as a result of the Chapter 11 Cases.
(3)	Estimate of fees due remain subject to confirmation and review by the U.S. Trustee.
(4)	See Schedule VIII which sets forth those professionals whose retention was approved by separate order of the Bankruptcy Court. Certain of the retained professionals have agreements that provide for success or completion fees that are payable upon the consummation of specified restructuring or sale transactions.
(5)	These costs relate to amounts incurred by the Debtors for services rendered by non-attorney, non-core Chapter 11 professionals, including certain costs incurred to obtain the Track 1 secured mortgage loan modifications; finance costs incurred by and the write off of unamortized deferred financing costs related to the properties that emerged from bankruptcy in December 2009.

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 December 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands, except for per share amounts)
Revenues:
Minimum rents	$	143,372		$	(10	)	$	143,362
Tenant recoveries		62,448			—			62,448
Overage rents		12,271			—			12,271
Land sales		446			—			446
Other		10,247			—			10,247
Total revenues		228,784			(10	)		228,774
Expenses:
Real estate taxes		20,106			—			20,106
Repairs and maintenance		24,628			—			24,628
Marketing		5,089			—			5,089
Ground and other rents		1,504			4			1,508
Other property operating costs		27,186			(62	)		27,124
Land sales operations		1,841			—			1,841
Provision for doubtful accounts		3,204			—			3,204
Property management and other costs		8,649			63			8,712
General and administrative		2,782			(14	)		2,768
Provisions for impairment		721,650			—			721,650
Depreciation and amortization		47,844			—			47,844
Total expenses		864,483			(9	)		864,474
Operating income		(635,699	)		(1	)		(635,700	)
Interest (expense) income, net		(97,363	)		203			(97,160	)
(Loss) income before income taxes, noncontrolling interests, equity in income of Real Estate Affiliates and reorganization items		(733,062	)		202			(732,860	)
Provision for income taxes		(6,998	)		—			(6,998	)
Equity in income of Real Estate Affiliates		(5,960	)		(16,621	)		(22,581	)
Reorganization items		209,921			—			209,921
Net (loss) income		(536,099	)		(16,419	)		(552,518	)
Allocation to noncontrolling interests		(1,445	)		14,372			12,927
Net (loss) income attributable to common stockholders	$	(537,544	)	$	(2,047	)	$	(539,591	)
Basic and Diluted Earnings Per Share:	$	(1.72	)	$	(0.01	)	$	(1.73	)
Comprehensive Loss, Net:
Net (loss) income attributable to common stockholders	$	(537,544	)	$	(2,047	)	$	(539,591	)
Other comprehensive income, net:
Unrealized gains, net of unrealized losses, on financial instruments		2,179			(51	)		2,128
Accrued pension adjustment		108			—			108
Foreign currency translation		916			(22	)		894
Unrealized losses on available-for-sale securities		(11	)		(9	)		(20	)
Other comprehensive income (loss), net		3,192			(82	)		3,110
Comprehensive loss attributable to common stockholders	$	(534,352	)	$	(2,129	)	$	(536,481	)

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 December 31, 2009
							Combined
	Debtors			Eliminations			Debtors
	(In thousands)
Assets:
Investment in real estate:
Land	$	2,902,580		$	—		$	2,902,580
Buildings and equipment		18,915,748			—			18,915,748
Less accumulated depreciation		(3,784,278	)		—			(3,784,278	)
Developments in progress		434,184			(74,625	)		359,559
Net property and equipment		18,468,234			(74,625	)		18,393,609
Investment in and loans to/from Unconsolidated Real Estate Affiliates		604,806			(219,943	)		384,863
Investment property and property held for development and sale		1,119,195			74,364			1,193,559
Investment in controlled non-debtor entities		16,537,171			(12,572,132	)		3,965,039
Net investment in real estate		36,729,406			(12,792,336	)		23,937,070
Cash and cash equivalents		570,710			23,376			594,086
Accounts and notes receivable, net		335,989			—			335,989
Goodwill		199,664			—			199,664
Deferred expenses, net		231,676			—			231,676
Prepaid expenses and other assets		603,730			(21,203	)		582,527
Total assets	$	38,671,175		$	(12,790,163	)	$	25,881,012
Liabilities and Equity:
Mortgages, notes and loans payable	$	4,679,402		$	—		$	4,679,402
Investment in and loans to/from Unconsolidated Real Estate Affiliates		33,005			—			33,005
Deferred tax liabilities		910,847			—			910,847
Accounts payable and accrued expenses		938,090			(8,051	)		930,039
Total liabilities not subject to compromise		6,561,344			(8,051	)		6,553,293
Mortgages, notes and loans payable		17,463,834			(308,589	)		17,155,245
Accounts payable and accrued expenses		649,571			(37,563	)		612,008
Liabilities subject to compromise		18,113,405			(346,152	)		17,767,253
Total liabilities		24,674,749			(354,203	)		24,320,546
Redeemable noncontrolling interests:
Preferred		120,756			—			120,756
Common		88,671			(2,594	)		86,077
Total redeemable noncontrolling interests		209,427			(2,594	)		206,833
Commitments and Contingencies		—			—			—
Preferred Stock: $100 par value; 5,000,000 shares authorized; none issued and outstanding		—			—			—
Equity:
Common stock: $.01 par value; 875,000,000 shares authorized, 313,831,411 shares issued as of December 31, 2009		3,138			—			3,138
Additional paid-in capital		9,512,418			(5,782,965	)		3,729,453
Retained earnings (accumulated deficit)		4,334,518			(6,650,406	)		(2,315,888	)
Accumulated other comprehensive loss		(430	)		5			(425	)
Less common stock in treasury, at cost, 1,449,939 shares as of December 31, 2009		(76,752	)		—			(76,752	)
Total stockholder’s equity		13,772,892			(12,433,366	)		1,339,526
Noncontrolling interests in consolidated real estate affiliates		14,107			—			14,107
Total equity		13,786,999			(12,433,366	)		1,353,633
Total liabilities and equity	$	38,671,175		$	(12,790,163	)	$	25,881,012

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 December 31, 2009

Gross Wage	Employee Payroll	Employer Payroll
Expense	Taxes Withheld (a)	Taxes Remitted (b)
	(In thousands)
$16,147	$3,545	$863

(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 December 31, 2009.

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

			Amounts Paid
	Amount Accrued		Month Ended
	December 31, 2009		December 31, 2009
	(In thousands)
Federal and state income taxes	$	2,346	$	858
State and local taxes:
Property *		68,845		23,945
Sales and use		1,852		1,342
Franchise		2,112		66
Other		698		24
Total state and local taxes		73,507		25,377
Total taxes	$	75,853	$	26,235

* 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	December 31, 2009		December 31, 2009
	(In thousands)
10 COLUMBIA CORPORATE CENTER	$	—	$	—
10000 COVINGTON CROSS		—		20
10000 WEST CHARLESTON		—		45
10190 COVINGTON CROSS		—		51
1120/40 TOWN CENTER DRIVE		—		57
1160/80 TOWN CENTER DRIVE		—		56
1201/41 TOWN CENTER DR 2ND U3		—		—
1201/41 TOWN CENTER DRIVE		—		52
1240 ALA MOANA BLVD		—		—
1251/81 TOWN CENTER DRIVE		—		10
1290 ALA MOANA BLVD		—		—
1551 HILLSHIRE DRIVE		—		41
1635 VILLAGE CENTER CIRCLE		—		20
1645 VILLAGE CENTER CIRCLE		—		25
1930-1201/41 TOWN CENTER DR FS U2		—		—
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		23		—
50 COLUMBIA CORPORATE CENTER		—		—
506 AHUI STREET		—		—
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		—		—
9901/21 COVINGTON CROSS		—		27
9950/80 COVINGTON CROSS		—		27
ALA MOANA CENTER		3,006		—

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	December 31, 2009		December 31, 2009
	(In thousands)
ALA MOANA PACIFIC CENTER		—		—
ALA MOANA PLAZA		—		—
ALA MOANA TOWER		—		—
ALA MOANA-KAPIOLANI PROPERTIES		—		—
ALA MOANA-KONA STREET		—		—
ALAMEDA PLAZA		86		86
ANIMAS VALLEY MALL		113		—
APACHE MALL		—		—
ARIZONA CENTER		12		37
ARIZONA CENTER ARIZONA CENTER ONE		23		134
ARIZONA CENTER ARIZONA CENTER TWO		19		—
ARIZONA CENTER CINEMA		20		—
ARIZONA CENTER GARDEN OFFICE		5		—
ARIZONA CENTER OFFICE		12		24
ARIZONA CENTER OTHER		—		—
ARIZONA CENTER PARKING		15		—
AUGUSTA MALL		—		—
AUGUSTA MALL ANCHOR ACQ		—		—
AUSTIN BLUFFS PLAZA		53		—
AUSTIN MALL LTD PARTNERSHIP		—		—
BAILEY HILL		—		—
BASKIN ROBBINS		3		3
BAY CITY MALL		—		—
BAYSHORE MALL		—		240
BEACHWOOD PLACE		3,906		—
BELLIS FAIR		—		—
BIRCHWOOD MALL		140		—
BOISE TOWN SQUARE ANCHOR ACQ		41		—
BOISE TOWNE PLAZA		114		115
BOISE TOWNE SQUARE		981		1,029
BRASS MILL CENTER		—		—
BRASS MILL COMMONS		—		—
BURLINGTON TOWN CENTER		—		5
BURLINGTON TOWN CENTER OFFICE		—		—
CACHE VALLEY MALL		—		—
CACHE VALLEY MARKETPLACE		—		—
CANYON POINT		—		67
CAPITAL MALL		—		290
CENTURY PLAZA		18		125
CHAPEL HILLS MALL		1,182		—

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	December 31, 2009			December 31, 2009
	(In thousands)
CHICO MALL		(12	)		266
CHULA VISTA CENTER		—			402
COLLIN CREEK		1,824			—
COLLIN CREEK-DILLARDS		—			—
COLONY SQUARE MALL		381			—
COLUMBIA BANK DRIVE THRU		—			—
COLUMBIA CENTER-C.A. BUILDING		—			—
COLUMBIA CENTER-EXHIBIT BLDG		—			—
COLUMBIA DEVELOPMENT CORPORATION		—			—
COLUMBIA MALL		—			523
COLUMBIANA CENTER		1,487			—
CORONADO MALL		382			—
CORPORATE POINTE #2		—			—
CORPORATE POINTE #3		—			—
COTTONWOOD MALL		—			—
COTTONWOOD SQUARE		—			—
COUNTRY HILL PLAZA		—			—
CROSSING BUSINESS CENTER #6		—			30
CROSSING BUSINESS CENTER #7		—			61
CROSSROADS CENTER (MN)		—			—
DEERBROOK MALL		1,464			—
DEERBROOK MALL ANCHOR ACQ		67			—
DIVISION CROSSING		—			—
DMV BUILDING		—			—
EAGLE RIDGE MALL		—			—
EASTRIDGE MALL (CA)		71			787
EASTRIDGE MALL (WY)		134			—
EDEN PRAIRIE CENTER		—			—
EDEN PRAIRIE CENTER ANCHOR ACQ		—			—
ELK GROVE PROMENADE		700			700
FALLBROOK CENTER		—			—
FANEUIL HALL MARKETPLACE		—			—
FANEUIL HALL MKTPL.-N.OFFICE		—			—
FANEUIL HALL MKTPL.-N.RETAIL		—			—
FANEUIL HALL MKTPL.-QUINCY		—			—
FANEUIL HALL MKTPL.-S.RETAIL		—			—
FANEUIL HALL OFFICE		—			—
FANUEUIL HALL MKTPL.-S.OFFICE		—			—
FASHION PLACE		5			—
FASHION PLACE ANCHOR ACQ		—			—

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	December 31, 2009		December 31, 2009
	(In thousands)
FASHION SHOW		—		776
FIFTY COLUMBIA CORPORATE CTR, INC.		—		—
FOODMAKER, INC.		—		—
FOOTHILLS MALL		901		—
FORT UNION		—		—
FORTY COLUMBIA CORP CTR, INC.		—		—
FOUR SEASONS TOWN CENTRE MALL		—		—
FOUR STATE/TRC OF NEVADA		—		—
FOX RIVER MALL		1,437		—
FREMONT VILLAGE		—		35
GARDEN OFFICE BUILDING		—		—
GATEWAY CROSSING SHOPPING CTR		—		—
GATEWAY MALL		—		—
GGPLP-SHARED		1,132		—
GGPLP-VICTORIA WARD		—		—
GLENBROOK SQUARE		4,640		—
GLENBROOK SQUARE ANCHOR ACQ		130		—
GRAND TETON MALL		409		411
GRAND TETON PLAZA		87		87
GRAND TRAVERSE MALL		118		—
GREENGATE MALL, INC.		—		—
GREENWOOD MALL		—		110
HALEKAUWILA BUILDING		—		—
HALSEY CROSSING		—		—
HARBORPLACE		—		—
COLUMBIA HRD BENSON LEASES		—		—
HUGHES SUMMERLIN OTHER		—		—
HULEN MALL		1,964		—
JORDAN CREEK TOWN CENTER		4,252		—
JP REALTY ADJUSTMENTS		—		—
KADOWAKI, JAY		—		—
KAMAKEE BUILDING		—		—
KAMANI BUILDING		—		—
KENDALL TOWN CENTER		—		—
KLING TRUST (CLIFFORD ET AL)		—		—
KNOLLWOOD MALL		—		—
LAKEMOOR		—		—
LAKESIDE MALL		—		—
LAKEVIEW SQUARE		241		—

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	December 31, 2009			December 31, 2009
	(In thousands)
LANSING MALL		475			—
LINCOLNSHIRE COMMONS		419			—
LOCKPORT MALL		—			—
LYNNHAVEN MALL		—			—
MALL AT SIERRA VISTA		218			—
MALL OF LOUISIANA		—			1,064
MALL OF LOUSIANA POWER CENTER		—			—
MALL OF THE BLUFFS		2,099			—
MALL ST. MATHEWS		—			—
MALL ST. VINCENT		—			622
MARKET PLACE SHOPPING CENTER		1,672			—
MAYFAIR BANK TOWER		310			—
MAYFAIR MALL		4,486			—
MAYFAIR NORTH TOWER		325			—
MAYFAIR PROFESSIONAL		124			—
MAYFAIR-AURORA HEALTH CENTER		295			—
MONDAWMIN MALL		—			—
MONDAWMIN MALL-OFFICE		—			—
MORENO VALLEY MALL		31			274
NATICK-NOUVELLE AT NATICK		(399	)		—
NEIGHBORHOOD STORES		—			—
NEWGATE MALL		—			—
NEWPARK MALL		39			444
NEWPARK MALL ANCHOR ACQ		—			—
NORTH PLAINS MALL		30			31
NORTH POINT MALL		—			2,319
NORTH STAR MALL		1,698			—
NORTH STAR MALL ANCHOR ACQ		209			—
NORTH TOWN MALL		—			—
NORTHGATE MALL		659			—
NORTHRIDGE FASHION CENTER		43			—
OAKWOOD CENTER		—			455
OAKWOOD MALL		1,205			—
OGLETHORPE MALL		—			220
OREM PLAZA CENTER STREET		—			—
OREM PLAZA STATE STREET		—			—
OVIEDO MARKETPLACE		—			—
OWINGS MALL		—			—
OWINGS MILLS-OFFICE ALLOCATIONS		—			—
OXMOOR MALL		24			—

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	December 31, 2009		December 31, 2009
	(In thousands)
PARK CITY CENTER		—		—
PARK MEADOWS		—		—
PARK PLACE		588		33
PARK WEST		437		227
PEACHTREE MALL		—		—
PECANLAND MALL		—		700
PECANLAND MALL ANCHOR ACQ		—		—
PIEDMONT MALL		19		—
PIERRE BOSSIER MALL		—		239
PINE RIDGE MALL		216		218
PIONEER PLACE		—		—
PIONEER PLACE LP EXPANSION		—		—
PIONEER TOWER		—		—
PIONEER TOWER GARAGE		—		—
PLAZA 800		—		30
PLAZA 9400		—		—
POHUKAINA CENTER		—		—
POHUKAINA COURT		—		—
PRICE NT CORP		—		—
PRINCE KUHIO PLAZA		—		—
PROVIDENCE PLACE		—		—
PROVO PLAZA		—		—
RED CLIFFS MALL		—		—
RED CLIFFS PLAZA		—		—
REDLANDS PROMENADE		100		48
REGENCY SQUARE MALL		—		—
RIDGEDALE CENTER		—		—
RIDGLEY BUILDING		—		—
RIO WEST MALL		106		—
RIVER FALLS		783		—
RIVER HILLS MALL		1,394		—
RIVER POINTE PLAZA		—		—
RIVERLANDS SHOPPING CENTER		—		57
RIVERSIDE PLAZA		—		—
RIVERTOWN CROSSINGS		164		—
ROGUE VALLEY MALL		—		—
SAINT LOUIS GALLERIA		—		3,952
SALEM CENTER		—		—
SEAPORT MARKETPLACE, INC.		—		—
SEVEN-ELEVEN HAWAII, INC.		—		—

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	December 31, 2009		December 31, 2009
	(In thousands)
SIKES SENTER		1,204		—
SILVER LAKE MALL		105		105
SOONER MALL		200		202
SOUTH STREET MARKETPLACE THEAT		163		—
SOUTH STREET SEAPORT		—		—
SOUTHLAKE MALL		—		—
SOUTHLAND CENTER (MI)		25		—
SOUTHLAND MALL (CA)		—		828
SOUTHSHORE MALL		—		99
SOUTHWEST OFF CTR I		170		—
SOUTHWEST OFF CTR II		52		—
SOUTHWEST PLAZA		2,279		—
SPRING HILL MALL		2,291		—
ST LOUIS GALLERIA ANCH ACQ		—		—
STATEN ISLAND ALLOCATION-B		—		—
STATEN ISLAND MALL		—		—
STATEN ISLAND MALL CENTER, INC		—		—
STATEN ISLAND MALL PHASE I		—		—
STATEN ISLAND MALL PHASE II		—		—
STATEN ISLAND THE CROSSINGS		—		—
STATEN ISLAND-ALLOCATION A		—		—
STEEPLEGATE MALL		—		392
STONESTOWN GALLERIA		—		1,586
STONESTOWN LAND		—		—
STONESTOWN MEDICAL BUILDING		—		327
THE BOULEVARD MALL		—		177
THE BRIDGES AT MINT HILL		—		19
THE COMMONS AT FOOTHILLS MALL		31		—
THE CROSSROADS (MI)		72		—
THE GALLERY AT HARBORPLACE		—		—
THE GALLERY AT HARBORPLACE-GARAGE		1,096		—
THE GALLERY AT HARBORPLACE-OFFICE		—		—
THE GALLERY AT HARBORPLACE-OTHER		—		—
THE GRAND CANAL SHOPPES		—		470
THE HUGHES CORPORATION		—		—
THE MAINE MALL		38		—
THE PINES		98		—
THE PLAZA AT FOOTHILLS MALL		74		—
THE SHOPPES AT DETROIT GATEWAY		—		—
THE SHOPPES AT THE PALAZZO		—		250

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	December 31, 2009		December 31, 2009
	(In thousands)
THE SHOPS AT FALLEN TIMBERS		1,796		—
THE SHOPS AT FOOTHILLS MALL		119		—
THE SHOPS AT SUMMERLIN CENTRE		—		188
THE VILLAGE AT REDLANDS		—		100
THE VILLAGE OF CROSS KEYS		—		—
THE VILLAGE OF CROSS KEYS OFFICE		—		—
THE WOODLANDS MALL		1,588		—
THE WOODLANDS MALL ANCHOR ACQ		93		—
THHC LAND (WOBU)		—		—
THHC PARTICIPATION		—		—
THREE RIVERS MALL		—		—
TONY & DANNY CORPORATION		—		—
TOSHIBA HAWAII, INC.		—		—
TOWN EAST MALL		3,557		—
TRCLP		—		—
TUCSON ANCHOR ACQ		33		—
TUCSON ENTERTAINMENT PAVILION		21		—
TUCSON MALL		482		—
TV INVESTMENT, LLC		—		—
TWC OPERATING HOLDINGS, INC.		—		—
TWINS FALLS CROSSINGS		17		17
TYSONS GALLERIA		—		—
UNIVERSITY CROSSING		—		—
VALLEY HILLS MALL		486		—
VALLEY PLAZA ANCHOR ACQ		—		—
VALLEY PLAZA MALL		—		594
VCK ALLOCATION		—		—
VCK ALLOCATION-ALL		—		—
VCK CROSS KEYS INN		—		—
VICTORIA WARD ADJ		—		—
VICTORIA WARD SHARED OPERATION		—		—
VILLAGE AT JORDAN CREEK		1,117		—
VILLAGE SQUARE-RETAIL PH III		—		—
VISALIA MALL		—		228
VISTA COMMONS		—		51
VISTA RIDGE MALL		2,082		—
VML MAINT SHOP		—		—
VWL-GROUND LEASE PROP.		—		—
VWL-MAINE MALL LAND LLC		—		—
VWL-MAUI RANCH PROP.		—		—

21

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	December 31, 2009		December 31, 2009
	(In thousands)
VWL-SAINT LOUIS LAND LLC		—		—
WARD CENTERS		—		—
WARD COURT DEV I		—		—
WARD COURT DEV II		—		—
WARD COURT DEV III		—		—
WARD ENTERTAINMENT CENTER		—		1
WARD GATEWAY CENTER		—		—
WARD INDUSTRIAL CENTER		—		—
WARD PLAZA		—		1
WARD VILLAGE		—		—
WARD VILLAGE SHOPS		—		—
WARD WAREHOUSE		—		—
WASHINGTON PARK MALL		—		165
WEST VALLEY MALL		—		397
WESTWOOD MALL		51		—
WHITE MARSH LP SHARE		—		—
WHITE MARSH MALL		—		—
WHITE MOUNTAIN MALL		54		—
WILLOWBROOK MALL (NJ)		—		—
WOODBRIDGE CENTER		—		—
WOODLANDS VILLAGE		53		—
YELLOWSTONE SQUARE		43		41
LUFKIN MALL		—		—
	$	68,845	$	23,945

22

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		December 31, 2009
			(In thousands)
South Street Seaport Limited Partnership		09-11963	$	1,063
Seaport Marketplace, LLC		09-11964		—
Seaport Marketplace Theatre, LLC		09-11965		4
Lockport L.L.C.		09-11966		22
RASCAP Realty, Ltd.		09-11967		—
Bellis Fair Partners		09-11968		687
GGP-Mint Hill L.L.C.		09-11969		19
Pines Mall Partners		09-11970		208
GGP-Grandville L.L.C.		09-11971		1,010
GGP-Grandville II L.L.C.		09-11972		—
GGP-Redlands Mall, L.P.		09-11973		156
La Place Shopping, L.P.		09-11974		189
GGP-Tucson Land L.L.C.		09-11975		4
Tucson Anchor Acquisition, LLC		09-11976		6,146
General Growth Properties, Inc.		09-11977		—
GGP Limited Partnership		09-11978		219,877
Rouse LLC		09-11979		—
GGP American Properties Inc.		09-11980		—
Caledonian Holding Company, Inc.		09-11981		—
GGPLP L.L.C.		09-11982		—
Rouse Company LP, The		09-11983		2,211
TRC Co-Issuer, Inc.		09-11984		—
Oakwood Shopping Center Limited Partnership		09-11985		822
Alameda Mall Associates		09-11986		621
Bay Shore Mall Partners		09-11987		567
Chico Mall, L.P.		09-11988		569
Lansing Mall Limited Partnership		09-11989		433
GGP-Pecanland, L.P.		09-11990		1,120
GGP-Pecanland II, L.P.		09-11991		—
Southland Mall, L.P.		09-11992		1,507
South Shore Partners, L.P.		09-11993		141
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		753
New Orleans Riverwalk Associates		09-11998		493
New Orleans Riverwalk Limited Partnership		09-11999		—
White Marsh General Partnership		09-12000		600
White Marsh Mall Associates		09-12001		600
White Marsh Phase II Associates		09-12002		600

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		December 31, 2009
			(In thousands)
Parke West, LLC		09-12003		301
GGP-Newpark L.L.C.		09-12004		—
Elk Grove Town Center, L.P.		09-12005		730
Baltimore Center Associates Limited Partnership		09-12006		1,126
Baltimore Center Garage Limited Partnership		09-12007		89
Century Plaza L.L.C.		09-12008		183
Harbor Place Associates Limited Partnership		09-12009		409
Price Development Company, Limited Partnership		09-12010		276
Rouse-Phoenix Theatre Limited Partnership		09-12011		4
Rouse-Arizona Retail Center Limited Partnership		09-12012		327
Rouse-Phoenix Master Limited Partnership		09-12013		—
Saint Louis Land L.L.C.		09-12014		—
Southland Center, LLC		09-12015		753
GGP-North Point Land L.L.C.		09-12016		—
Majestic Partners-Provo, LLC		09-12017		5
GGP-Mall of Louisiana, L.P.		09-12018		2,338
NewPark Anchor Acquisition, LLC		09-12019		621
Parkview Office Building Limited Partnership		09-12020		81
Parkside Limited Partnership		09-12021		49
Park Square Limited Partnership		09-12022		52
Rouse SI Shopping Center, LLC		09-12023		3,223
Augusta Mall, LLC		09-12024		1,303
Burlington Town Center LLC, The		09-12025		265
Fashion Show Mall LLC		09-12026		4,942
GGP Ala Moana L.L.C.		09-12027		16,580
GGP Jordan Creek L.L.C.		09-12028		1,224
GGP Village at Jordan Creek L.L.C.		09-12029		10
GGP-Four Seasons L.L.C.		09-12030		688
Lincolnshire Commons, LLC		09-12031		214
Phase II Mall Subsidiary, LLC		09-12032		2,185
St. Cloud Mall L.L.C.		09-12033		1,510
Valley Hills Mall L.L.C.		09-12034		414
GGP Holding, Inc.		09-12035		235
The Rouse Company BT, LLC		09-12036		—
Rouse Company Operating Partnership LP, The		09-12037		—
10000 West Charleston Boulevard, LLC		09-12040		216
10190 Covington Cross, LLC		09-12041		149
1120/1140 Town Center Drive, LLC		09-12042		112
1160/1180 Town Center Drive, LLC		09-12043		188
1201-1281 Town Center Drive, LLC		09-12044		88

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		December 31, 2009
			(In thousands)
1251 Center Crossing, LLC		09-12045		—
1450 Center Crossing Drive, LLC		09-12046		40
1451 Center Crossing Drive, LLC		09-12047		73
1551 Hillshire Drive, LLC		09-12048		161
1635 Village Centre Circle, LLC		09-12049		37
1645 Village Center Circle, LLC		09-12050		47
9901-9921 Covington Cross, LLC		09-12051		39
9950-9980 Covington Cross, LLC		09-12052		40
Alameda Mall, L.L.C.		09-12053		—
Apache Mall, LLC		09-12054		945
Arizona Center Parking, LLC		09-12055		76
Augusta Mall Anchor Acquisition, LLC		09-12056		17
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		1,186
Baltimore Center, LLC		09-12063		—
Bay City Mall Associates L.L.C.		09-12064		242
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		1,552
Benson Park Business Trust		09-12069		—
Birchwood Mall, LLC		09-12070		157
Boise Mall, LLC		09-12071		1,634
Boise Town Square Anchor Acquisition, LLC		09-12072		1
Boise Towne Plaza L.L.C.		09-12073		163
Boulevard Associates		09-12074		971
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		58
Century Plaza, Inc.		09-12080		—
Champaign Market Place L.L.C.		09-12081		722
Chapel Hills Mall L.L.C.		09-12082		853
Chattanooga Mall, Inc.		09-12083		—
Chico Mall L.L.C.		09-12084		—

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		December 31, 2009
			(In thousands)
Chula Vista Center, LLC		09-12085		865
Collin Creek Anchor Acquisition, LLC		09-12086		—
Collin Creek Mall, LLC		09-12087		618
Colony Square Mall L.L.C.		09-12088		44
Columbia Mall L.L.C.		09-12089		1,259
Coronado Center L.L.C.		09-12090		1,058
Coronado Center Holding L.L.C.		09-12091		—
Cottonwood Mall, LLC		09-12092		158
Country Hills Plaza, LLC		09-12093		77
Deerbrook Mall, LLC		09-12094		892
DK Burlington Town Center LLC		09-12095		—
Eagle Ridge Mall, Inc.		09-12096		—
Eagle Ridge Mall, L.P.		09-12097		471
Eastridge Shopping Center L.L.C.		09-12098		2,629
Eden Prairie Anchor Building L.L.C.		09-12099		—
Eden Prairie Mall, Inc.		09-12100		—
Eden Prairie Mall L.L.C.		09-12101		776
Elk Grove Town Center L.L.C.		09-12102		—
ER Land Acquisition L.L.C.		09-12103		—
Fallbrook Square Partners Limited Partnership		09-12104		584
Fallbrook Square Partners L.L.C.		09-12105		—
Fallen Timbers Shops, LLC		09-12106		172
Fallen Timbers Shops II, LLC		09-12107		—
Faneuil Hall Marketplace, LLC		09-12108		1,319
Fashion Place, LLC		09-12109		962
Fashion Place Anchor Acquisition, LLC		09-12110		3
Fifty Columbia Corporate Center, LLC		09-12111		—
Forty Columbia Corporate Center, LLC		09-12112		—
Fox River Shopping Center, LLC		09-12113		1,452
Franklin Park Mall, LLC		09-12114		—
Franklin Park Mall Company, LLC		09-12115		—
Gateway Crossing L.L.C.		09-12116		74
Gateway Overlook Business Trust		09-12117		422
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		8
GGP Holding Services, Inc.		09-12124		—

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		December 31, 2009
			(In thousands)
GGP Ivanhoe II, Inc.		09-12125		—
GGP Ivanhoe IV Services, Inc.		09-12126		—
GGP Kapiolani Development L.L.C.		09-12127		36
GGP Knollwood Mall, LP		09-12128		426
GGP Natick Residence LLC		09-12129		701
GGP Savannah L.L.C.		09-12130		—
GGP/Homart, Inc.		09-12131		498
GGP/Homart Services, Inc.		09-12132		—
GGP-Bay City One, Inc.		09-12133		—
GGP-Brass Mill, Inc.		09-12134		931
GGP-Burlington L.L.C.		09-12135		—
GGP-Canal Shoppes L.L.C.		09-12136		—
GGP-Foothills L.L.C.		09-12137		221
GGP-Glenbrook L.L.C.		09-12138		899
GGP-Glenbrook Holding L.L.C.		09-12139		1
GGP-Grandville Land L.L.C.		09-12140		—
GGP-La Place, Inc.		09-12141		—
GGP-Lakeview Square, Inc.		09-12142		—
GGP-Lansing Mall, Inc.		09-12143		—
GGP-Maine Mall L.L.C.		09-12144		1,179
GGP-Maine Mall Holding L.L.C.		09-12145		—
GGP-Maine Mall Land L.L.C.		09-12146		—
GGP-Moreno Valley, Inc.		09-12147		1,608
GGP-Newgate Mall, LLC		09-12148		600
GGP-Newpark, Inc.		09-12149		—
GGP-North Point, Inc.		09-12150		3,786
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		1,134
GGP-Tucson Mall L.L.C.		09-12155		860
GGP-UC L.L.C.		09-12156		75
Grand Canal Shops II, LLC		09-12157		3,125
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		—

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		December 31, 2009
			(In thousands)
Ho Retail Properties II Limited Partnership		09-12165		340
Hocker Oxmoor, LLC		09-12166		785
Hocker Oxmoor Partners, LLC		09-12167		—
Howard Hughes Canyon Pointe Q4, LLC		09-12168		117
Howard Hughes Corporation, The		09-12169		281
Howard Hughes Properties, Inc.		09-12170		323
Howard Hughes Properties, Limited Partnership		09-12171		45
Howard Hughes Properties IV, LLC		09-12172		7
Howard Hughes Properties V, LLC		09-12173		8
HRD Parking, Inc.		09-12174		13
HRD Remainder, Inc.		09-12175		—
Hulen Mall, LLC		09-12176		802
Hughes Corporation, The		09-12177		—
Kapiolani Condominium Development, LLC		09-12178		—
Kapiolani Retail, LLC		09-12179		—
Knollwood Mall, Inc.		09-12180		—
Lakeside Mall Holding, LLC		09-12181		—
Lakeside Mall Property LLC		09-12182		1,066
Lakeview Square Limited Partnership		09-12183		367
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		245
Lynnhaven Holding L.L.C.		09-12189		—
Lynnhaven Mall L.L.C.		09-12190		1,548
Mall of Louisiana Holding, Inc.		09-12191		—
Mall of Louisiana Land, LP		09-12192		6
Mall of Louisiana Land Holding, LLC		09-12193		—
Mall of the Bluffs, LLC		09-12194		96
Mall St. Matthews Company, LLC		09-12195		—
Mall St. Vincent, Inc.		09-12196		—
Mall St. Vincent, L.P.		09-12197		968
Mayfair Mall, LLC		09-12198		945
MSAB Holdings, Inc.		09-12199		—
MSAB Holdings L.L.C.		09-12200		—
MSM Property L.L.C.		09-12201		1,337
Natick Retail, LLC		09-12202		—
Newgate Mall Land Acquisition, LLC		09-12203		—
NewPark Mall L.L.C.		09-12204		—

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		December 31, 2009
			(In thousands)
North Plains Mall, LLC		09-12205		57
North Star Anchor Acquisition, LLC		09-12206		15
North Star Mall, LLC		09-12207		2,278
North Town Mall, LLC		09-12208		653
Northgate Mall L.L.C.		09-12209		361
NSMJV, LLC		09-12210		—
Oakwood Hills Mall, LLC		09-12211		322
Oglethorpe Mall L.L.C.		09-12212		1,443
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		337
Park Mall, Inc.		09-12218		—
Park Mall L.L.C.		09-12219		1,363
PDC Community Centers L.L.C.		09-12220		266
PDC-Eastridge Mall L.L.C.		09-12221		335
PDC-Red Cliffs Mall L.L.C.		09-12222		153
Peachtree Mall L.L.C.		09-12223		622
Pecanland Anchor Acquisition, LLC		09-12224		—
Piedmont Mall, LLC		09-12225		284
Pierre Bossier Mall, LLC		09-12226		390
Pine Ridge Mall L.L.C.		09-12227		392
Pioneer Office Limited Partnership		09-12228		116
Pioneer Place Limited Partnership		09-12229		260
Price Development TRS, Inc.		09-12230		—
Price-ASG L.L.C.		09-12231		851
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		48
Ridgedale Center, LLC		09-12237		1,099
Rio West L.L.C.		09-12238		135
River Falls Mall, LLC		09-12239		33
River Hills Land, LLC		09-12240		—
River Hills Mall, LLC		09-12241		599
Rogue Valley Mall L.L.C.		09-12242		274
Rogue Valley Mall Holding L.L.C.		09-12243		—
The Rouse Company at Owings Mills, LLC		09-12244		—

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		December 31, 2009
			(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		4,921
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		409
Rouse-Phoenix Cinema, LLC		09-12261		—
Rouse-Phoenix Corporate Center Limited Partnership		09-12262		329
Rouse-Phoenix Development Company, LLC		09-12263		—
Rouse-Portland, LLC		09-12264		—
RS Properties Inc.		09-12265		794
Saint Louis Galleria L.L.C.		09-12266		5,543
Saint Louis Galleria Anchor Acquisition, LLC		09-12267		74
Saint Louis Galleria Holding L.L.C.		09-12268		—
Sierra Vista Mall, LLC		09-12269		133
Sikes Senter, LLC		09-12270		461
Silver Lake Mall, LLC		09-12271		169
Sixty Columbia Corporate Center, LLC		09-12272		—
Sooner Fashion Mall L.L.C.		09-12273		677
Southlake Mall L.L.C.		09-12274		744
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		420
Spring Hill Mall L.L.C.		09-12279		555
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		3,501
Summerlin Centre, LLC		09-12284		370

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		December 31, 2009
			(In thousands)
Summerlin Corporation		09-12285		—
Three Rivers Mall L.L.C.		09-12286		181
Three Willow Company, LLC		09-12287		—
Town East Mall, LLC		09-12288		1,870
Tracy Mall, Inc.		09-12289		—
Tracy Mall Partners, L.P.		09-12290		883
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		68
Two Willow Company, LLC		09-12296		—
Tysons Galleria L.L.C.		09-12297		1,907
U.K.-American Properties, Inc.		09-12298		1,383
Valley Hills Mall, Inc.		09-12299		—
Valley Plaza Anchor Acquisition, LLC		09-12300		—
VCK Business Trust		09-12301		350
Victoria Ward Center L.L.C.		09-12302		117
Victoria Ward Entertainment Center L.L.C.		09-12303		116
Victoria Ward, Limited		09-12304		1,340
Victoria Ward Services, Inc.		09-12305		—
Village of Cross Keys, LLC, The		09-12306		26
Visalia Mall L.L.C.		09-12307		—
Vista Commons, LLC		09-12308		71
Visalia Mall, L.P.		09-12309		450
Vista Ridge Mall, LLC		09-12310		795
VW Condominium Development, LLC		09-12311		—
Ward Gateway-Industrial-Village, LLC		09-12312		145
Ward Plaza-Warehouse, LLC		09-12313		188
Weeping Willow RNA, LLC		09-12314		—
West Kendall Holdings, LLC		09-12315		1,175
Westwood Mall, LLC		09-12316		104
White Marsh Mall, LLC		09-12317		—
White Mountain Mall, LLC		09-12318		47
Willow SPE, LLC		09-12319		—
Willowbrook II, LLC		09-12320		—
Willowbrook Mall, LLC		09-12321		1,858
Woodbridge Center Property, LLC		09-12322		2,050
Woodlands Mall Associates, LLC, The		09-12323		1,443
10000 Covington Cross, LLC		09-12324		24

31

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		December 31, 2009
			(In thousands)
10 CCC Business Trust		09-12457		40
20 CCC Business Trust		09-12458		45
30 CCC Business Trust		09-12459		60
Capital Mall L.L.C.		09-12462		506
GGP-Columbiana Trust		09-12464		170
GGP-Gateway Mall L.L.C.		09-12467		384
Grand Traverse Mall Partners, LP		09-12469		519
Greenwood Mall L.L.C.		09-12471		787
Kalamazoo Mall L.L.C.		09-12472		429
Lancaster Trust		09-12473		1,845
Mondawmin Business Trust		09-12474		454
Running Brook Business Trust		09-12475		—
Town Center East Business Trust		09-12476		67
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		—
			$	383,232

32

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)

	December 31, 2009
	(In thousands)
Current	$	(25,835)	*
31 - 60 days		6,958
61 - 90 days		1,342
91 - 120 days		5,694
Over 120 days		48,131
Gross Amount	$	36,290

* In general, reflects tenant rents paid in advance.

33

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)			December 31, 2009		December 31 (b)
						(Dollars in thousands)
Fixed Rate Loans
Secured Asset Loans:
10000 West Charleston		3/1/2011		7.88	%	$	21,772	$	141
1160/80 Town Center		1/13/2017		6.99	%		8,411		49
Ala Moana A1		9/1/2011		5.52	%		1,500,000		7,132
Augusta Mall		11/10/2017		5.49	%		174,835		827
Baltimore Center Garage Ltd Partnership		6/1/2018		6.05	%		16,092		77
Bay City		12/2/2013		5.30	%		24,120		109
Bayshore		9/1/2011		7.13	%		31,005		182
Beachwood Place		4/7/2011		5.60	%		240,164		1,146
Bellis Fair		2/15/2016		7.34	%		61,586		369
Boise Towne Plaza		7/9/2010		4.70	%		10,921		44
Boise Towne Square		8/11/2014		6.64	%		69,744		399
Brass Mill		4/11/2014		4.55	%		123,593		475
Burlington		7/1/2015		5.03	%		25,973		113
Burlington 2 (*)		7/1/2010		6.30	%		5,500		30
Capital		10/1/2014		7.28	%		20,041		126
Chapel Hills		10/11/2015		5.04	%		114,158		496
Chico Mall		2/11/2014		4.74	%		56,113		229
Collin Creek Mall		7/11/2011		6.78	%		66,997		386
Columbia Mall (MO)		2/1/2013		6.05	%		90,000		469
Coronado		6/7/2010		5.08	%		168,798		729
Corporate Pointe 2 (10650 W. Charleston)		3/12/2016		6.83	%		4,472		26
Corporate Pointe 3 (10750 W. Charleston)		3/12/2016		6.83	%		4,472		26
Country Hills		6/1/2016		6.04	%		13,526		70
Crossroads Center (MN)		1/30/2014		4.73	%		83,060		339
Deerbrook		3/2/2009		3.46	%		73,964		214
Eagle Ridge		10/12/2015		5.41	%		47,578		219
Eastridge (CA)		9/1/2011		5.79	%		170,000		847
Eastridge (WY )		12/4/2016		5.08	%		38,630		169
Eden Prairie		4/1/2011		4.67	%		79,828		317
Fallbrook		6/3/2013		6.14	%		85,000		449
Faneuil Hall		9/30/2016		5.57	%		93,060		447
Fashion Place		4/5/2014		5.30	%		142,704		652
Four Seasons		12/11/2013		5.60	%		100,429		476
Fox River		12/3/2012		5.96	%		195,000		1,001
Gallery at Harborplace 1 (Baltimore Center Land, Garage & Office)		6/1/2014		7.89	%		63,858		331
Gateway		10/1/2014		7.28	%		39,277		247
Gateway Overlook		3/1/2013		5.78	%		55,000		274
Glenbrook		12/30/2016		4.91	%		174,854		741
Grand Canal Shoppes		5/1/2014		4.78	%		387,921		1,599
Grand Traverse		10/1/2012		5.02	%		85,302		364
Greenwood		10/1/2014		7.28	%		44,097		277
Harborplace		4/5/2016		5.79	%		49,956		249
Homart I (*)		2/28/2013		5.95	%		245,115		1,256
Hulen Mall		12/7/2011		5.03	%		113,021		484
Ivanhoe Capital (*)		12/3/2012		5.74	%		93,713		463
Jordan Creek		3/2/2009		4.57	%		185,950		720
JP Comm Jr. Gateway Crossing		7/9/2010		4.70	%		15,234		61
JP Comm Jr. Univ. Crossing		7/9/2010		4.70	%		11,373		45
JP Comm Sr. Austin Bluffs		4/9/2009		4.40	%		2,288		8
JP Comm Sr. Division Crossing		4/9/2009		4.40	%		5,273		20
JP Comm Sr. Fort Union		4/9/2009		4.40	%		2,753		10
JP Comm Sr. Halsey Crossing		4/9/2009		4.40	%		2,581		10
JP Comm Sr. Orem Plaza Center St		4/9/2009		4.40	%		2,460		9
JP Comm Sr. Orem Plaza State St		4/9/2009		4.40	%		1,523		6
JP Comm Sr. Riverpointe Plaza		4/9/2009		4.40	%		3,811		14
JP Comm Sr. Riverside Plaza		4/9/2009		4.40	%		5,454		20
JP Comm Sr. Woodlands Village		4/9/2009		4.40	%		6,968		26
Knollwood		10/12/2015		5.35	%		39,942		182
Lakeside Mall		6/1/2016		4.28	%		177,492		655
Lakeview Square		3/1/2016		5.81	%		41,334		205
Lansing I		1/15/2010		9.35	%		24,144		186
Lincolnshire Commons		4/1/2013		5.98	%		28,000		144
Lynnhaven		1/4/2017		5.05	%		233,881		1,019
Maine		12/10/2016		4.84	%		213,331		890
Mall of Louisiana Mezz (*)		4/1/2011		6.40	%		62,343		341
Mall of Louisiana Note A		4/1/2011		5.46	%		118,469		552
Mall of Louisiana Note B		4/1/2011		5.92	%		54,362		275

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)			December 31, 2009		December 31 (b)
						(Dollars in thousands)
Mall St Matthews Ltd Partnership		1/4/2010		4.81	%		144,565		591
Mall St Vincent		7/5/2016		6.30	%		49,000		266
Market Place		2/1/2013		6.05	%		106,000		552
Moreno Valley		9/11/2013		5.96	%		87,402		445
Newgate		4/1/2014		4.84	%		40,361		168
Newpark		2/1/2011		7.45	%		68,201		433
North Point		3/1/2011		5.48	%		215,691		1,008
North Star		1/4/2010		4.43	%		232,570		875
Northgate		9/1/2018		5.88	%		44,561		226
Northridge Fashion		12/30/2014		7.24	%		124,638		753
Oglethorpe		7/2/2012		4.89	%		141,375		588
Oviedo		5/7/2012		5.12	%		51,819		226
Oxmoor		12/2/2016		6.85	%		56,294		332
Park City Note A		10/1/2010		4.74	%		120,029		483
Park City Note B		10/1/2010		7.10	%		29,206		177
Park Place		1/11/2010		5.15	%		176,443		773
Peachtree		6/1/2015		5.08	%		88,414		387
Pecanland		1/1/2014		4.28	%		56,481		209
Piedmont		9/6/2016		5.98	%		33,911		173
Pine Ridge		12/4/2016		5.08	%		26,045		114
Pioneer Place Limited Partners Land		4/27/2010		10.00	%		349		3
Prince Kuhio		4/1/2009		3.45	%		37,826		110
Providence Place 2		3/11/2010		5.03	%		258,525		1,106
Providence Place 3 (*)		3/11/2010		5.12	%		59,529		259
Providence Place 4 (*)		3/11/2010		5.93	%		39,044		197
Providence Place Pilot A1		7/1/2016		7.75	%		22,338		153
Providence Place Pilot A2		6/30/2028		7.75	%		23,116		144
Red Cliffs		12/4/2016		5.08	%		24,754		108
Regency Square		7/1/2015		3.59	%		92,010		285
Ridgedale		9/30/2016		4.86	%		175,736		737
River Hills		6/3/2013		6.14	%		80,000		423
RiverTown Junior Loan (*)		12/30/2014		9.15	%		15,619		119
RiverTown Senior Loan		12/30/2014		7.29	%		100,695		613
Rogue Valley		7/1/2014		7.85	%		26,047		176
Sikes Senter		6/1/2012		5.20	%		61,381		272
Sooner Fashion		6/3/2013		6.14	%		60,000		317
Southlake		12/5/2017		6.44	%		100,000		554
Southland		3/2/2009		3.62	%		81,477		249
Southland (RSE)		3/5/2015		4.97	%		107,308		460
St. Louis Galleria		1/3/2017		4.86	%		234,189		981
Staten Island 1		10/1/2010		5.09	%		85,000		367
Staten Island 2		10/1/2010		8.15	%		70,616		479
Staten Island 3		10/1/2010		5.61	%		125,000		584
Steeplegate		7/31/2009		4.94	%		77,889		327
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		7/1/2013		4.27	%		107,630		390
The Crossroads (MI)		1/1/2014		7.40	%		39,222		250
The Woodlands Note A		6/12/2016		5.91	%		184,843		942
The Woodlands Note B		6/12/2016		5.91	%		54,953		280
Three Rivers		12/4/2016		5.08	%		21,205		93
Town East		1/1/2014		3.46	%		103,235		308
Tucson Mall		1/1/2014		4.26	%		115,234		424
Tysons Galleria		9/12/2011		5.72	%		255,000		1,257
Valley Hills		3/4/2016		4.73	%		55,987		228
Valley Plaza		1/10/2016		3.90	%		93,541		315
Victoria Ward (Village/Industrial/Gateway)		1/11/2015		5.61	%		88,419		428
Victoria Ward (Warehouse/Plaza)		10/6/2011		5.52	%		68,500		326
Village of Cross Keys		7/31/2009		7.04	%		10,257		57
Visalia		1/1/2014		3.78	%		40,508		132
Vista Ridge		4/10/2016		6.87	%		79,146		454
Ward Centre & Ward Entertainment		1/4/2010		4.33	%		57,393		214
Washington Park		3/31/2016		5.35	%		11,935		55
West Valley		4/1/2010		3.43	%		56,436		163
White Marsh		9/1/2012		5.62	%		187,000		876
Willowbrook Mall		6/30/2016		6.82	%		156,513		921
Woodbridge Corporation		6/1/2009		4.24	%		207,934		749
Unsecured Asset Loans:
GGPLP/GGPLPLLC Exchangable Debt (*)		4/15/2012		0.00	%		1,550,000		564
Public Indenture — Company Debt (*)		9/17/2012		5.75	%		400,000		267
Public Indenture — Senior Bond (*)		3/16/2009		5.75	%		395,000		267

35

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)			December 31, 2009			December 31 (b)
						(Dollars in thousands)
Public Indenture 100 (*)		11/26/2013		5.87	%		100,000			403
Public Indenture 350 (*)		11/26/2013		5.10	%		350,000			694
Public Indenture Senior Note (*)		4/30/2009		7.89	%		200,000			438
Rouse Senior Notes (*)		5/1/2013		12.08	%		800,000			25
Fixed Rate Debt						$	16,466,971		$	61,147
Variable Rate Loans
Secured Asset Loans:
Bank Note — Animas Valley		7/11/2013		2.51	%		35,054			76
Bank Note — Birchwood Mall		7/11/2013		2.51	%		44,308			96
Bank Note — Cache Valley		7/11/2013		2.51	%		28,043			61
Bank Note — Colony Square		7/11/2013		2.51	%		25,239			55
Bank Note — Columbiana		7/11/2013		2.51	%		105,441			228
Bank Note — Fallen Timbers		7/11/2013		2.51	%		42,401			92
Bank Note — Foothills		7/11/2013		2.51	%		50,758			110
Bank Note — Grand Teton		7/11/2013		2.51	%		48,795			105
Bank Note — Mall at Sierra Vista		7/11/2013		2.51	%		23,556			51
Bank Note — Mall of the Bluffs		7/11/2013		2.51	%		35,951			78
Bank Note — Mayfair		7/11/2013		2.51	%		274,932			594
Bank Note — Mondawmin		7/11/2013		2.51	%		84,689			183
Bank Note — North Plains		7/11/2013		2.51	%		10,656			23
Bank Note — North Town Mall		7/11/2013		2.51	%		114,976			248
Bank Note — Oakwood		7/11/2013		2.51	%		75,772			164
Bank Note — Owings Mills		7/11/2013		2.51	%		53,281			115
Bank Note — Pierre Bossiere		7/11/2013		2.51	%		40,382			87
Bank Note — Pioneer Place		7/11/2013		2.51	%		156,764			339
Bank Note — Salem Center		7/11/2013		2.51	%		41,728			90
Bank Note — Silver Lake Mall		7/11/2013		2.51	%		18,228			39
Bank Note — Southwest Plaza		7/11/2013		2.51	%		96,187			208
Bank Note — Spring Hill		7/11/2013		2.51	%		68,088			147
Bank Note — Westwood Mall		7/11/2013		2.51	%		24,117			52
Bank Note — White Mountain		7/11/2013		2.51	%		10,656			23
Fashion Show		3/15/2009		6.26	%		645,918			3,469
Oakwood Center		3/16/2009		1.76	%		95,000			144
Palazzo		3/15/2009		6.26	%		249,623			1,340
Unsecured Asset Loans:
DIP (c)		3/16/2011		13.50	%		400,000			4,650
GGPLP/GGPLPLLC Revolver (*)		2/24/2010		5.17	%		590,000			752
GGPLP/GGPLPLLC Senior Term (*)		2/24/2010		8.50	%		1,987,500			19
TRUPS (*)(d)		4/30/2036		1.78	%		206,200			307
Variable Rate Debt							5,684,243			13,945
Total Filing Entity Debt						$	22,151,214	(e)	$	75,092

(a)	Reflects the variable contract rate as of December 31, 2009.
(b)	All amounts for current period were paid as scheduled, except where noted (*).
(c)	Loan obtained in May 2009.
(d)	Junior subordinated notes of GGPLP purchased by GGP Capital Trust I, a Non-Debtor Delaware statutory trust and wholly-owned subsidiary of GGPLP, with proceeds from the sale of trust preferred securities.
(e)	Excludes liabilities to special improvement districts, discount on GGPLP Exchangable Debt and purchase accounting mark-to-market adjustments.

36

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	December 31, 2009		December 31, 2009		December 31, 2009		December 31, 2009
					(In thousands)
Akin Gump Strauss Hauer & Feld, LLP	$	647	$	1,517	$	9,132	$	6,631
AlixPartners, LLP		2,492		975		11,217		5,200
Assessment Technologies		—		—		29		25
Baker & Daniels LLP		—		—		—		—
Bracewell Giuliani		620		81		1,331		241
Calvo & Clark LLP		—		—		—		—
Cushman & Wakefield		374		500		1,428		1,038
Deloitte & Touche LLP		328		—		3,532		988
Deloitte Tax LLP		42		149		500		162
Epiq Solutions		—		—		17		13
Ernst & Young LLP		69		70		702		377
FTI Consulting		133		214		2,309		1,257
Grant Thornton		—		9		19		9
Halperin Battaglia Raicht LLP		28		12		89		41
Hewitt Associates		—		—		586		—
Houlihan Lokey		1,833		233		5,356		1,223
Jenner & Block		101		104		1,264		694
Kirkland & Ellis LLP (1)		4,938		1,049		16,608		6,973
Kurtzman Carson Consultants LLC		214		—		3,369		2,049
Miller Buckfire & Co LLC (1)		1,531		1,152		7,002		4,254
PricewaterhouseCoopers		54		—		96		—
Silverstein & Pomerantz LLP		—		—		—		—
Weil, Gotshal & Manges LLP (1)		1,905		1,329		17,543		9,595
Total	$	15,309	$	7,394	$	82,129	$	40,770
Professional Fees Summary (See Note 7)
Restructuring costs	$	13,567	$	6,263	$	74,715	$	37,602
General & administrative		1,080		843		6,679		2,421
Other(2)		662		288		735		747
Total	$	15,309	$	7,394	$	82,129	$	40,770

(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.

37

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 DECEMBER 31, 2009

		Date and Transaction
Debtor	Property	Description	Counterparty	Consideration
				(In thousands)
GGP Natick Residence LLC	Condominium Unit # 602 Natick, MA	12/04/2009 Condominium Unit Sale	David Diamond	$	324
GGP Natick Residence LLC	Condominium Unit # 643 Natick, MA	12/09/2009 Condominium Unit Sale	Reza and Joanne Fazell	$	420
GGP Natick Residence LLC	Condominium Unit # 505 Natick, MA	12/18/2009 Condominium Unit Sale	Fabiana A. Bennett	$	479
GGP Natick Residence LLC	Condominium Unit #904 Natick, MA	12/18/2009 Condominium Unit Sale	Giacomo and Soia DeMarco	$	315
GGP Natick Residence LLC	Condominium Unit # 834 Natick, MA	12/22/2009 Condominium Unit Sale	Svetlana Florintseva	$	309
GGP Natick Residence LLC	Condominium Unit #449 Natick, MA	12/23/2009 Condominium Unit Sale	Patricia Hannon	$	347
GGP Natick Residence LLC	Condominium Unit #830 Natick, MA	12/28/2009 Condominium Unit Sale	Costas Pantazis	$	391

38

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

Reporting Period: December 2009

SCHEDULE X
DEBTORS QUESTIONNAIRE*

		Yes	No
1	Have any assets been sold or transferred outside the normal course of business this reporting period?		X
2	Have any funds been disbursed from any account other than a debtor in possession account this reporting period?		X
3	Is the Debtor delinquent in the timely filing of any post-petition tax returns?		X
4	Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?		X
5	Is the Debtor delinquent in paying any insurance premium payment?		X
6	Have any payments been made on pre-petition liabilities this reporting period?	X(1)
7	Are any post petition receivables (accounts, notes or loans) due from related parties?	X(2)
8	Are any post petition payroll taxes past due?		X
9	Are any post petition State or Federal income taxes past due?		X
10	Are any post petition real estate taxes past due?		X
11	Are any other post petition taxes past due?		X
12	Have any pre-petition taxes been paid during this reporting period?	X(3)
13	Are any amounts owed to post petition creditors delinquent?		X
14	Are any wage payments past due?		X
15	Have any post petition loans been received by the Debtor from any party?	X(4)
16	Is the Debtor delinquent in paying any U.S. Trustee fees?		X
17	Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?		X
18	Have the owners or shareholders received any compensation outside of the normal course of business?		X

*	Unless otherwise indicated, answer is for the combined group of Debtors (see Note 1).
(1)	An aggregate of $11.7 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, taxes to government entities and for other services rendered pre-petition.
(2)	The net change in the aggregate Debtors intercompany accounts with affiliated non-debtors for the period was an increase in the amounts due to Non-Debtors of $19.5 million.
(3)	Included in the amounts reported in (1) above are payments of taxes of approximately $5,000.
(4)	As previously described in Note 6 of the May MOR, which description is incorporated into this response by reference, the DIP Term Loan of $400 million was funded on May 15, 2009.

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