Rouse Properties, Inc. Sets Record Date for Rights Offering

Company Release – 2/03/2012

NEW YORK, Feb. 3, 2012 /PRNewswire/ —¬†Rouse Properties, Inc. (NYSE: RSE) (“Rouse” or the “Company”) announced today that the record date for its previously announced rights offering of common stock has been set for the close of business on February 13, 2012. Holders of the Company’s common stock as of 5 p.m. on the record date will be entitled to receive one right per share of common stock owned. Each right will entitle its holder to purchase 0.375094056 shares of the Company’s common stock at a price of $15.00 per whole share.

The Company previously filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-11 relating to the rights offering. The distribution of the transferable subscription rights is subject to the effectiveness of the registration statement. The Company will announce additional information regarding the terms of the rights offering when the information is available.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The offering will be made only by means of a prospectus which is a part of such registration statement.

About Rouse Properties, Inc.

Rouse is a publicly traded real estate investment trust headquartered in New York City and founded on a legacy of innovation and creativity. Among the country’s largest publicly traded regional mall owners, the Company’s geographically diverse portfolio spans the United States from coast to coast, and includes 30 malls in 19 states encompassing approximately 21 million square feet of space. For more information,

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of federal securities laws, including statements regarding expectations that are not historical facts.¬† Rouse cautions that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including changes in market conditions, unanticipated developments, competitive conditions, and other risk factors that Rouse identifies in its Form S-11 registration statement and other filings that it makes with the Securities and Exchange Commission from time to time. Any of these factors could cause actual results to differ materially from the expectations expressed or implied in this press release. Rouse undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT: Rebecca Stenholm, 212.608.5108

SOURCE Rouse Properties, Inc.