Established in 1983, Forrester is headquartered in
Cambridge, Mass.

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simon.

Business Editors/High-Tech Editors

CAMBRIDGE, Mass. (Nasdaq: FORR), announced today that it has redefined
its global geographic regions to align more closely with those of its
growing international client base.

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.

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"Across the Americas, EMEA, and Asia Pacific, Forrester 's clients
are experiencing renewed growth as technology spending and the global
economy improve ," stated George F.forrester.

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Davidson, and Forrester Asia Pacific,
managed by President Charles W .

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Forrester Realigns Geographic Regions To Accommodate Increasing Clientele

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Holders of Simon Property Group Series I Preferred Stock May Elect to Convert During 2006 Second Fiscal Quarter

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The Company 's current total market
capitalization is approximately $43 billion.

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(the "Company") (NYSE: SPG) today announced that holders of the Company's
Series I 6% Convertible Perpetual Preferred Stock ("Preferred Stock") may
elect to convert their shares during the quarter beginning on April 3, 2006
and ending on June 30, 2006 because the closing sale price of the Company's
Common Stock exceeded $79.

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Copies of documents
necessary to effect tender of Series B Preferred for conversion may be
obtained without charge from the conversion agent. The three regions now comprise:
Forrester Americas (North, Central , and South America); Forrester EMEA
(Europe, the Middle East, and Africa); and Forrester Asia Pacific
(Japan, Korea, Australia, New Zealand, Greater China, Singapore, and
India). Colony, Forrester 's Chairman of the
Board and Chief Executive Officer. Chang, constitute a geographic
structure that mirrors the organization of Forrester's largest
clients.
"Forrester expects to invest further in Asia Pacific in the years
ahead, similar to the commitments the company has made to develop our
business in North America and Europe over the past years," said
Colony.

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Through its subsidiary
partnership, it currently owns or has an interest in 286 properties in the
United States containing an aggregate of 200 million square feet of gross
leasable area in 39 states plus Puerto Rico.

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For further information, holders of the Preferred Stock should contact
Mellon Investor Services , LLC, the conversion agent (toll free) at
1-800-957-3110, or their respective banks or brokers.

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INDIANAPOLIS, Simon Property Group,
Inc.
In creating Forrester EMEA, Forrester will continue to offer a
growing suite of products and services to its existing major market
clients in the UK, France, and Germany; expand sales in Benelux, the
Nordics, and Italy; invest in new geographic markets in Central and
Eastern Europe; and continue market penetration into Southern Europe,
the Middle East, and Africa. For additional information, visit www.

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59, or 125% of the applicable conversion price, for
at least 20 trading days in a period of 30 consecutive trading days ending on
the last trading day of the prior quarter, March 31, 2006. Important factors
that could cause actual future activities and results to differ
include, among others, Forrester's ability to anticipate business and
economic conditions, technology spending, market trends, competition,
industry consolidation , the ability to attract and retain professional
staff, possible variations in Forrester's quarterly operating results,
risks associated with Forrester's ability to offer new products and
services , and Forrester's dependence on renewals of its
membership-based research services and on key personnel .

About Forrester

Forrester Research is an independent technology research company
that provides pragmatic and forward-thinking advice about technology's
impact on business. Forrester offers products and
services in four major areas: Research, Data, Consulting, and
Community.

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For further information, please refer to Forrester's
reports and filings with the Securities and Exchange Commission .

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"
Forrester Americas, headed by President Neil Bradford, Forrester
EMEA, led by President Robert W. These
statements include, but are not limited to, statements about the
potential success of product offerings, investment plans, and the
ability of Forrester to achieve success as the economy improves.

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About Simon Property Group
Simon Property Group, Inc.com . Forrester
undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information , future events, or
otherwise.

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Business, marketing, and IT professionals
worldwide collaborate with Forrester to align their technology
investments with their business goals.

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Simon also owns interests in 51
European shopping centers in France, Italy, and Poland; 5 Premium Outlet(R)
centers in Japan; and one Premium Outlet(R) center in Mexico.----Forrester
Research, Inc. Of the three regions , Forrester Americas continues to make up
the largest portion of Forrester's business.
Due to the explosive rise of technology and innovation for many of
its multinational clients in Asia Pacific , Forrester Asia Pacific
plans to continue to bolster key markets and deploy marketing in
Japan , Australia, and India, with additional focus on Greater China.

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These
statements are based on Forrester's current plans and expectations and
involve risks and uncertainties that could cause actual future
activities and results of operations to be materially different from
those set forth in the forward-looking statements.com

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7853
shares of Simon Property Group Common Stock.

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At the current
conversion price, each share of Preferred Stock is convertible into 0., headquartered in Indianapolis, Indiana , is a
real estate investment trust engaged in the ownership, development and
management of retail real estate, primarily regional malls, Premium Outlet(R)
centers and community/lifestyle centers . Additional
Simon Property Group information is available at http://www.

"By structuring our regional
business units to align with those of our global clients, we are
better positioned to provide value and expertise to companies at all
levels -- local, regional, and international -- as we grow our
portfolio of technology research, consumer and market data,
consulting, and executive membership offerings across all
geographies.

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