NEW YORK--(BUSINESS WIRE)--March 2, 2006--Coach, Inc. (NYSE:COH), a leading marketer of modern classic American accessories and Simon Property Group, Inc. (NYSE:SPG), the country's largest owner, developer and manager of high quality retail real estate, announced today that they have formed an alliance to open or expand Coach retail stores in Simon's premiere malls and lifestyle centers over the next two years.

This agreement, the first of its kind for Coach, encompasses a total of 30 'deals in principle' and will include opening about 20 new Coach retail stores and expanding an additional 10 locations over a two-year period.

Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc. said, "We are extremely excited about our alliance with Simon, which will allow us to leverage opportunities in some of their most prestigious and productive properties. Some of Coach's highest volume locations are in Simon-operated malls and lifestyle centers around the U.S. - such as the Forum Shops at Caesar's Palace in Las Vegas, Roosevelt Field on Long Island and The Mall at Chestnut Hill near Boston - all of which will be targeted for expansion or renovation under the new arrangement. Further, this more formal, multi-property agreement will allow Coach to better execute our growth strategy and reach more customers in both new and existing markets."

"We are pleased to announce this alliance with Coach," said David Simon, Chief Executive Officer of Simon. "Coach is a great brand and their commitment to open or expand 30 stores in our portfolio is entirely consistent with our objective of developing and managing retail properties that matter."

Coach, with headquarters in New York, is a leading American marketer of fine accessories and gifts for women and men, including handbags, women's and men's small leathergoods, business cases, weekend and travel accessories, footwear, watches, outerwear, scarves, sunwear and related accessories. Coach is sold worldwide through Coach stores, select department stores and specialty stores, through the Coach catalog in the U.S. by calling 1-800-223-8647 and through Coach's website at www.coach.com. Coach's shares are traded on The New York Stock Exchange under the symbol COH.

Simon Property Group, Inc., 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. The Company's current total market capitalization is approximately $42 billion. 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. 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. Additional Simon Property Group information is available at www.simon.com.

CONTACT: Coach
Analysts & Media:
Andrea Shaw Resnick, 212-629-2618
or
Simon Property Group
Les Morris, 317-263-7711

SOURCE: Coach, Inc.