We, the shareholders of General Growth Properties (GGP), demand to be allowed participation in the recapitalization plan of the company. We want the option to purchase shares in GGP at a price of $12.00 per share. This is a superior price to the current stalking horse bid of Brookfield Asset Management, The Fairholm Fund, and Pershing Square. Offering existing shareholders the option of purchasing GGP shares at $12.00 would result in a meaningful reduction in dilution post emergence from bankruptcy. Any shares not purchased by existing shareholders would still be available to the stalking horse bid party at the agreed upon price.