MEMO: NEW WESTFIELD LEASE AT WORLD TRADE CENTER

Westfield America officials has reached an agreement with the Port Authority of New York and New Jersey to lease the retail component of the World Trade Center for 99 years.

Westfield's net leasehold covers approximately 427,448 square feet of retail space ("The Mall"). The Mall has 75 specialty stores, restaurants and service retailers, and will be branded "Westfield Shoppingtown World Trade Center."

"This is a special opportunity for us," said Westfield CEO Peter Lowy. "The World Trade Center is one of the most prominent office and retail complexes in the world, and we look forward to putting our management, leasing and development experience to work at this premier property."

Westfield America, Inc., a real estate investment trust, is one of the nation's leading owners of regional shopping centers. The company owns interests in 39 major shopping centers -- including the mall at Cape Girardeau -- branded as Westfield Shoppingtowns.