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Top-Requested Fashion Retailers Complete Expansion Lineup

FOR IMMEDIATE RELEASE

Media Contact: Debra Panzarella, Freehold Raceway Mall, 732-577-1300 x112
Rebecca Stenholm, Macerich, 602-953-6550

TOP-REQUESTED FASHION RETAILERS COMPLETE EXPANSION LINEUP
Freehold Raceway Mall to celebrate grand opening of lifestyle expansion Nov. 8, 2007

FREEHOLD, N.J. (Sept. 10, 2007) - Freehold Raceway Mall today announced four new reasons for Monmouth County residents to mark Nov. 8 on their calendars - Ann Taylor, Chico's, Coldwater Creek and White House | Black Market will debut in the center's new 100,000-square-foot lifestyle expansion when it opens this fall.

The four fashion retailers - among the most popular women's apparel brands in the industry - join five previously announced retailers and restaurants opening new locations in the center's "main street" addition. The result will be a retail mix matched to market demand and shoppers' request - nine of the top retail concepts in a comfortable outdoor setting.

Mori MacKenzie, Executive Vice President and Chief Stores Officer for Chico's commented, "We're excited to open at Freehold Raceway Mall in New Jersey. Our goal is to make women feel, first and foremost, comfortable yet conveying a look that's sophisticated and fun. We strive to extend that concept to every aspect of our company; from the design of our clothing, the warm environment of our stores and the personal service we provide our customers."

In addition to the four fashion retailers announced today, Borders Books, The Cheesecake Factory, P.F. Chang's China Bistro, Jared The Galleria of Jewelry and The Territory Ahead have announced new locations at Freehold Raceway Mall.

"We are extremely pleased with the retail lineup that will debut at Freehold Raceway Mall this fall in the new lifestyle addition," noted Frank Lucia, senior property manager for the center. "Our shoppers told us they wanted new retail and dining options, and our research also showed a desire for an outdoor setting."

"In November we will debut 100,000 square feet of new shopping and dining options in an outdoor setting that is seamlessly integrated with the existing center. At the same time, we will be unveiling a fresh new look inside Freehold Raceway Mall and welcoming a number of new retailers. This fall is an exciting time for us."

Grand opening festivities will kick off Nov. 8 with a ticketed event to benefit charity. The new lifestyle addition will officially open its doors for business Nov. 9, and grand opening festivities will continue throughout the weekend.

"This project - and the retail lineup within it - speaks extremely well to the economic strength of this market,” said Dorothy H. Avallone, Mayor, Freehold Township. "This is an important and exciting milestone for Freehold Township and Monmouth County and we are looking forward to celebrating the opening of this important new destination."

For the latest news about Freehold Raceway Mall, the lifestyle expansion and grand opening details please visit www.freeholdracewaymall.com.

Located at the intersection of Routes 33, 9 and 537, Freehold Raceway Mall is owned and operated by Macerich® (NYSE: MAC).

Macerich is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The company is the sole general partner and owns an 84% ownership interest in The Macerich Partnership, L.P. Macerich now owns approximately 77 million square feet of gross leaseable area consisting primarily of interests in 73 regional malls. Additional information about Macerich can be obtained from the Company's Web site at www.macerich.com.


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