SIMON PROPERTY GROUP AND CON EDISON SOLUTIONS ANNOUNCE ENERGY EFFICIENCY PROGRAM

- Partnering to Provide Energy Savings -

Indianapolis, IN - September 6, 2007 - Simon Property Group, Inc. (NYSE:SPG), the country’s largest owner, developer and manager of high quality retail real estate announced today that it was expanding its energy efficiency program at Simon properties nationwide by teaming with ConEdison Solutions, one of America’s leading energy services companies, to provide performance contracting services.

Energy efficiency programs will include improvements in lighting, air conditioning, heating and energy controls. Specific projects are likely to include installing new lighting systems, tightly controlling lighting in parking lots and back-of-the-house areas and installing new heating, ventilating and air conditioning systems.

“Our partnership with ConEdison Solutions allows us to accelerate our program to maximize energy efficiency while preserving our focus on comfort, service reliability and safety for our retail tenants and shoppers,” said George Caraghiaur, vice president, energy services at Simon. “In addition to reducing operating costs, energy efficiency also conserves natural resources and reduces the carbon footprint of our facilities.”

“Simon Property Group has been an early adopter of energy conservation,” said Jorge Lopez, president and CEO of ConEdison Solutions. “We are pleased to be selected to implement energy initiatives for a company recognized nationwide for the quality of its properties and its sophisticated approach to energy management.”

Simon Energy Efficiency

Simon Property Group, Inc. is an S&P 500 company and the largest public U.S. real estate company. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers®, The Mills®, community/lifestyle centers and international properties. It currently owns or has an interest in 380 properties comprising 258 million square feet of gross leasable area in North America, Europe and Asia. The Company is headquartered in Indianapolis, Indiana and employs more than 5,000 people worldwide. Simon Property Group, Inc. is publicly traded on the NYSE under the symbol SPG. For further information, visit the Company's website at http://www.simon.com/.

About ConEdison Solutions

ConEdison Solutions is a leading energy services company that provides competitive power supply and cost-effective energy solutions for commercial, industrial, residential, and government customers. The company is based in White Plains, New York, with offices in Burlington, Massachusetts; Cherry Hill, New Jersey; Arlington, Virginia; Houston, Texas; and Tampa, Florida. The firm’s dedicated team of energy professionals delivers a broad range of commodity, consulting, demand-side management and performance contracting services. ConEdison Solutions creates customized programs and services tailored to help customers achieve their individual energy objectives and is accredited as an Energy Services Provider (ESP) by the National Association of Energy Service Companies (NAESCO).

ConEdison Solutions is a subsidiary and registered trademark of Consolidated Edison, Inc. (NYSE:ED). More information can be obtained by calling 1-888-210-8899 or visiting the ConEdison Solutions web site at www.conedsolutions.com. You can also visit the Consolidated Edison, Inc. website at http://www.conedison.com/ for information on all of the Consolidated Edison companies.