General Growth Properties, Inc. (NYSE:GGP) (the “Company”) announced that its subsidiary, The Rouse Company LP (“TRCLP”), launched a solicitation today to obtain consents from the holders of TRCLP’s unsecured notes (five series with an aggregate outstanding principal amount of approximately $2.25 billion at December 31, 2008) to forbear from exercising remedies with respect to various payment and other defaults under the notes through December 31, 2009.

“This is a significant step in our ongoing efforts to reach a plan with our lenders to develop a long-term solution to the Company’s maturing debt” said Adam Metz, Chief Executive Officer.