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DALLAS--([ BUSINESS WIRE ])--[ The Howard Hughes Corporation ] (NYSE: HHC) today announced the purchase of the 70 Corporate Center office building. The nine-story building, located in downtown Columbia, MD, contains 169,700 square feet of Class A office space. The Howard Hughes Corporation is the master developer for the redevelopment of downtown Columbia. The company is currently working to further expand and redevelop the acclaimed community, bringing additional lifestyle amenities and other services, including the recent announcement of Whole Foods Market.

"The purchase of 70 Corporate Center helps solidify our companyas commitment to downtown Columbia and its future redevelopment."

aThis well-located, notable office building serves as a strong addition to our holdings in downtown Columbia,a said John DeWolf, Senior Vice President of Development for The Howard Hughes Corporation. aThe purchase of 70 Corporate Center helps solidify our companyas commitment to downtown Columbia and its future redevelopment.a

Built in 1992, the office building at the northeast corner of Broken Land Parkway and Little Patuxent Parkway is adjacent to The Mall of Columbia. The building offers further opportunity for creating a more vibrant downtown with additional office tenants as well as a possible restaurant and entertainment venue to help create more options for business lunches and after work gatherings in the area.

About The Howard Hughes Corporation

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 18 states from New York to Hawaii. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit [ www.howardhughes.com ].

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as awill,a abelieve,a aexpect,a aenables,a arealizea, aplan,a aintenda and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on managementas 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 Corporationas filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. 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.