X0303 4 2008-09-23 0 0000895648 GENERAL GROWTH PROPERTIES INC GGP 0001196092 BAYER JOEL C/O GENERAL GROWTH PROPERTIES INC 110 NORTH WACKER DRIVE CHICAGO IL 60606 0 1 0 0 Chief Investment Officer Common Stock 2008-09-23 4 S 0 249500 17.2679 D 202121 D Common Stock 2008-09-24 4 S 0 150500 15.5322 D 51621 D $17.2679 was the weighted average sales price. Price range of sales was from $17.00 to 17.4578. The undersigned will provide upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price. $15.5322 was the weighted average sales price. Price range of sales was from $15.34 to $15.72. The undersigned will provide upon request by the SEC staff, the issuer, or any security holder of the issuer, full information regarding the number of shares sold at each separate price. Shares sold to pay margin loan. /s/ Joel Bayer 2008-09-25