The Howard Hughes Corporation Hires John E. DeWolf as Senior Vice President Development Responsible for Key Assets in Maryland, New Jersey and Virginia

DALLAS--(BUSINESS WIRE)--The Howard Hughes Corporation (NYSE: HHC) announced today that John E. DeWolf has been appointed to lead strategic developments in Columbia, Md., Alexandria, Va. and Princeton N.J., as Senior Vice President. Mr. DeWolf will report to Grant Herlitz, the company’s President.

“John’s appointment is a clear example of our dedication to identifying the best leaders for our management team, and our commitment to the time and exploration necessary to find the ideal leaders for each vital role.”

Mr. DeWolf brings over 30 years of real estate experience to his new role. Most recently, Mr. DeWolf ran his own consulting practice leading real estate strategy, portfolio management and start-up guidance for multi-billion dollar businesses. Mr. DeWolf was Executive Vice President Real Estate/Strategic Initiatives for New York & Company where he oversaw the addition of 225 stores, the closing of 100 stores, and downsizing of over 250 stores. Additionally, as head of strategic initiatives he managed the development of two accessory store concepts and four new store prototypes. Previously, Mr. DeWolf had senior leadership roles with New England Development, Woolworth Corporation and The Disney Stores, Inc.

"The Maryland Communities, Landmark and West Windsor are important strategic assets for the company. John brings the acumen and experience necessary to ensure that the full potential values of these key assets are realized, ” David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation, stated. “John’s appointment is a clear example of our dedication to identifying the best leaders for our management team, and our commitment to the time and exploration necessary to find the ideal leaders for each vital role.”

Mr. DeWolf began his career as real estate counsel for Pyramid Companies and spent over 10 years with The Limited as their first in-house attorney. He eventually co-led The Limited’s real estate department reporting directly to the company’s CEO, Les Wexner. In one year he oversaw the addition of 700 new stores and added over two million square feet to the company’s retail base. He also supervised the initial development of Easton, a 1,000-acre mixed-used project, adjacent to the company headquarters. Mr. DeWolf graduated from Syracuse University earning both his B.S. in 1977 and J.D. in 1979. His appointment is effective immediately.

Columbia Town Center has an approved master plan to create up to 13 million square feet of mixed-used development. The plan includes up to 5,500 residential units, approximately one million square feet of retail, approximately five million square feet of commercial office space and 640 hotel rooms. Columbia Town Center is located in Howard County Maryland between Baltimore and Washington D.C. It is a part of the company’s Maryland Communities of Columbia, Emerson and Fairwood totaling more than 16,000 acres of land and representing the finest in community master planning.

Landmark Mall is an 879,262 square foot shopping mall located in affluent Alexandria, Va., and is anchored by Macy’s and Sears. Landmark is located just nine miles west of Washington, D.C. and the Pentagon, and is within approximately one mile of public rail service on D.C.’s metro blue line. As a result of a successful re-zoning effort that allows for the development of up to 5.5 million square feet, Landmark Mall has the potential to be developed into a dynamic destination for shopping, dining, working and living.

West Windsor is a former Wyeth Agricultural Research & Development Campus on Quakerbridge Road and U.S. Route One near Princeton, N.J. The land consists of 658 total acres comprised of two large parcels that are bisected by Clarksville Meadows Road and a third smaller parcel. Zoning, environmental and other development factors are currently being addressed in conjunction with a feasibility study of the site.

About The Howard Hughes Corporation

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the country. Created from a selected subset of 34 assets previously held by General Growth Properties, the company's properties include master planned communities, operating properties, development opportunities and other unique assets spanning 18 states from New York to Hawaii.

For more information on the company, visit www.howardhughes.com or contact Kay Weinmann via e-mail at [e-mail] or [phone].

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Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “realize” or similar words, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Registration Statement on Form 10, as amended. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.