Shopping in America: Back-to-School Means Hitting the Mall before Hitting the Books; Survey Shows Shoppers to Spend 25% More Than Last Year.

SANTA MONICA, Calif. -- School will soon be back in session and consumers are ready, planning to spend an average of nearly $770 on clothing and other seasonal purchases, according to the Shopping in America: Back-to-School 2005 survey for The Macerich Company (NYSE:MAC). Conducted by August Partners among more than 4,100 parent and student shoppers, the national survey shows back-to-school spending will be up 25 percent, compared to last year's report and that the majority of shopping will take place at mall department and specialty stores.

Shopping Timing

The season is off to an early start, as more than half of shoppers (57 percent) will complete back-to-school purchases by August 15, increasing to almost three-quarters (74.4 percent) by September 1. Regionally, 64 percent of shoppers in the Southern states -- with traditionally earlier school start dates -- will complete shopping by August 15. The greatest percentage of respondents in the Midwestern (34 percent) and Western (26 percent) states will also finish by this date. While many Northern shoppers (39 percent) do not know when they will complete shopping, the next highest percentage (17 percent) plans to finish by September 1.

Anticipated Spending

Clothing and accessory purchases make up the majority of the anticipated $769 shopping budgets for parents and students combined -- breaking out to $421 on clothing and accessories, and $348 on other seasonal purchases, such as school supplies and electronics. Specifically:

--Parents anticipate spending $455, or $228 for each of their average two children, for clothing and accessory purchases. They plan to spend $372 on additional seasonal purchases, for an average total of $827.

--Students will spend and average of $396 on clothing and accessories in 2005. Additionally, they plan to spend $330 on other seasonal items, with all back-to-school/fall expenditures totaling $726.

--Regionally, shoppers in the Midwest will spend the most on back-to-school purchases, averaging $795. Northeastern shoppers plan to spend the least at $518.

(Figures have been rounded up to the nearest dollar amount.)

"A new wardrobe and gear are part of the back-to-school tradition in many American families. Our survey shows that 78 percent of parents and students plan to purchase clothing and accessories this fall," explained Garry Butcher, Macerich vice president of marketing and consumer research. "Enjoying a stronger economy, shoppers plan to spend an average of $155 (25 percent) more than last year for all their back-to-school-related purchases."

Back-to-School Clothes

Jeans and shorts continue to be popular items for back-to-school clothing, according to both parents and students surveyed (selected by 63 percent). Accessories and school uniforms ranked relatively low among shoppers. Parents favored skirts/trousers compared to their school-age children (48 percent vs. 28 percent).

Back-to-School Clothing Purchases
                  ---------------------------------
                                    All        Parents      Students
                               ------------- ------------ ------------
Jeans/Shorts                       62.6%        65.6%        60.3%
Shoes/Sneakers                     43.4%        49.9%        38.4%
Skirts/Trousers                    36.3%        47.5%        27.6%
Tops/Shirts                        49.4%        49.6%        49.2%
Outerwear                          23.5%        30.4%        18.2%
School Uniforms                    15.5%        24.7%         8.5%
Belts/Jewelry/Accessories          24.5%        20.5%        27.6%
Other                              16.2%        16.0%        16.4%

Note: More than one response allowed.

Other Seasonal Purchases

In addition to clothing and accessories, other purchases topping the fall shopping lists include school supplies (selected by 33 percent), followed by cell phones/calling plans (20 percent), and digital music devices (18 percent). The following chart illustrates priorities among parents and students.

Other Seasonal Purchases
                       ------------------------
                                      All       Parents     Students
                                  ----------- ------------ -----------
School Supplies                      33.1%       42.7%        25.9%
Cell Phone/Calling Plan              20.1%       15.5%        23.6%
Digital Music Device (iPod)          17.9%       14.2%        20.7%
Electronic Games/Game Player         17.6%       17.7%        17.6%
Computer/Laptop                      15.4%       15.1%        15.7%
Digital Camera                       14.2%       14.8%        13.7%
Other                                13.0%       11.5%        14.2%
None of the Above/Not Certain        8.7%         9.3%        8.2%

Note: More than one response allowed.

Where to Shop

Mall department stores reign as the most popular back-to-school shopping destination, selected by the greatest number (66 percent) of parents and students combined. Mall specialty stores came in next at 46 percent -- up 6 percent from the 2004 survey. Other popular shopping sources included: discount stores (34 percent) and specialty stores outside the mall (30 percent). Online (7 percent) and catalog (5 percent) shopping were less appealing to back-to-school shoppers. (Respondents could select more than one shopping source).

"Consumers continue to rate shopping malls as a top choice for back-to-school shopping, where a variety of stores, dining and entertainment options provide convenience for family-oriented shoppers," explained Butcher.

Shopping in America is a national shopper intercept survey that studies consumer-shopping trends. The back-to-school survey was conducted among 4,100 shoppers in twelve regional shopping centers geographically spread throughout the United States. Respondents included parents of school-aged children (K through college) and students (ages 10 to 25). Not all results are stated in this news release and some are rounded to the nearest whole number. Data is subject to a +/- 1.5 percent margin of error.

To view the complete Shopping in America results and graphics, as well as the Back-to-School Fashion Icon Report, visit www.shoppinginamerica.biz. Please look for additional Shopping in America survey results on the hottest back-to-school fashion and looks, fashion influences and more, in early August.

The Macerich Company is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. The Company is the sole general partner and owns an 81% ownership interest in The Macerich Partnership, L.P. Macerich now owns interests in properties totaling approximately 77 million square feet of gross leaseable area consisting primarily of interests in 76 regional malls. Additional information about The Macerich Company can be obtained from the Company's Web site at www.macerich.com.