News Release Making News.

SANTA MONICA, Calif., Jan. 13 /PRNewswire-FirstCall/ -- The Macerich Company (NYSE: MAC) today announced the tax treatment for dividend distributions taxable in 2008 on its Common Stock and Series A Cumulative Preferred Stock.

The 2008 dividend of $3.20 per share is classified for income tax purposes as follows:

    The Macerich Company, Common Stock, CUSIP # 554382101 


                           Total     2008 Taxable    2008 Total
      Record   Payable  Distribution   Ordinary    Capital Gain  2008 Return
       Date     Date     per Share     Dividends   Distribution  of Capital

     02/22/08  03/07/08    $0.80     $0.7972899     $0.0027101       $-
     05/19/08  06/09/08    $0.80     $0.7972899     $0.0027101       $-
     08/21/08  09/08/08    $0.80     $0.7972899     $0.0027101       $-
     11/17/08  12/08/08    $0.80     $0.7972899     $0.0027101       $-

    The Macerich Company, Series A Cumulative Preferred, CUSIP #554382309


                           Total      2008 Taxable   2008 Total
      Record   Payable  Distribution   Ordinary     Capital Gain   2008 Return
       Date     Date     per Share     Dividends    Distribution   of Capital

     02/22/08  03/07/08    $0.80     $0.7972899     $0.0027101       $-
     05/19/08  06/09/08    $0.80     $0.7972899     $0.0027101       $-
     08/21/08  09/08/08    $0.80     $0.7972899     $0.0027101       $-

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 87% 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 72 regional malls. Additional information about Macerich can be obtained from the Company's Web site at www.macerich.com.

SOURCE The Macerich Company
CONTACT: Thomas O'Hern, Senior Executive Vice President, Chief Financial
Officer of Macerich, +1-310-394-6000
Web Site: http://www.macerich.com