On January 27, 2012, Destiny USA secured new financing for the existing Carousel Center and the expansion. The $420 million dollar package includes $310 million to refinance Carousel Center and $110 million for the expansion. This achievement was made possible as a result of the diligent efforts of the Syracuse Industrial Development Agency (SIDA) and our lenders.

Carousel Center sales numbers for 2011 were up 9.6%. In December alone, Carousel posted an increase in sales of 11.6%, versus an industry-wide growth of just 3.3%, according to the International Council for Shopping Centers (ICSC). We continue to outperform the industry as we show growth and strength in a rebounding economy.

Visit us at DestinyUSA.com Join us on Twitter @DestinyUSA and Facebook Destiny USA

Our Momentum Continues

December Sales Increases

Carousel CenterIndustry Average

2010 2011

5.5%3.3%

11.6%3.8%

On February 6, 2012, Destiny USA received official LEED® Gold certification from the US Green Building Council. We are proud to be the largest LEED® Gold certified super-regional shopping center in the nation. The hard work and dedication of local designers and contractors led the way for us to reach this significant milestone.

Some of Destiny USA’s Green initiatives include: • Over90%ofallconstructionmaterials

which were diverted from landfills• Arainwaterharvestingsystemwill

conserve 4 million gallons of water each year

• 23,000tonsof95%recycledsteel

used in construction• 276,000gallonsofsoy-basedbio

diesel which fueled the construction trucks

• Flooringmadeofrecycledmaterialsfrom cork, rubber and crushed walnut shells

• All100newtenantsinsidethefacilitywhich will also be LEED® certified

Two dozen tenants are currently LEED® registered with the USGBC. They include Toby Keith’s I Love This Bar and Grill,MichaelKors,SaksOff5th,BCBG,The Melting Pot and Brooks Brothers. We continue to work with tenants to help them implement more eco-friendly initiatives into their stores, restaurants, and entertainment venues.

February 2012 marked four years since Destiny USA/Carousel Center began purchasing renewable energy certificates from Constellation Energy and Renewable Choice, two Green Power suppliers. As members of the Green Power Partnership Initiative, Destiny USA/Carousel Center has purchased 100% Green Power since 2008, which is equal to more than 96 million kilowatt hours of power.

This commitment to green energy is equivalent to any one of the following:

• Displacing CO2 emissions from 7,420,739 gallons of gasoline consumed.

• Removing CO2 emissions from the electricity use of 8,253 average American homes for one year.

• Planting 1,250,000 tree seedlings and growing them for 10 years

• Taking 12,979 passenger cars off the road for one year

Success in Sustainability

Source: International Council for Shopping Centers Store Sales Trends 2011 and Carousel Center Sales

Several new tenants are slated to open within the existing facility over the coming months, including the expanded Forever 21 store and Popeye’s Louisiana Grill.

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Rendering of new entranceCurrent Construction

Several store build-outs are currently underway throughout the expansion. Approximately one hundred construction personnel are working inside of the expansion each day on individual stores and common area spaces. Visitors are welcome to see construction progress in the wing of the expansion that is currently open to the public on the first floor near Carousel Center’s center atrium.

Over the next several weeks, concrete panels over the “sneak peek entrance will be replaced with a glass wall. This entrance will remain open to the public during this phase of construction.

Construction Progress

Approximately 100 construction personnel are on site every day

Destiny USA’s newest entrance is made of nearly 1 acre of glass

Store buildouts are underway. Visitors have the opportunity to watch what’s happening

Storefront installation is nearing completion The Canyon area gives way to natural light

LEED Registered Tenants• MichaelKors• SaksOff5th• BCBGMaxAzria• GordonBiersch• DressBarn• GUESS?FactoryStore• Wilson’sLeather• TobyKeith’sILoveThis

BarandGrill• EckoUnltd• Johnston&Murphy• Chico’s• AJA• BrooksBrothers• TheMeltingPot• Hartmann• Lenox• CantinaLaredo

With Spring just around the corner, Central New York is coming back to life with more sun, plants in bloom and most importantly, more to do!

Destiny USA has recently been highlighted in a number of destination oriented publications alongside Syracuse and the Finger Lakes Region. Green XC (greenxc.com) featured the Finger Lakes and Destiny USA in a recent article on things to do. Visit Syracuse’s Spring Visitor’s Guide will

feature Destiny USA and some of its exciting new announcements and updates.

Our history is as important to us as is our current momentum. The Eagle News recently highlighted Destiny USA and its road to success. You can read all about our social media efforts, our history and our progress at theeaglenewsonline.com .

Destiny USA in the News

This spring semester, Destiny USA is working with Syracuse University’s School of Information Studies (the iSchool) on social media development. Professor Anthony Rotolo’s course “Social Media for the Enterprise” examines how businesses use social media to raise brand awareness to inform their audience.

Students have the opportunity to work with Destiny USA on a variety of different topics including content/blogging, policy and procedure, social networks, and metrics, among others.

To find the most up to date information on what’s happening

at Destiny USA, join us at www.facebook.com/destinyusa2012 or follow us on Twitter @DestinyUSA. Facebook and Twitter are great ways of reaching out to people and letting them know what’s going on. Your feedback is always welcome.

Leasing reps at Destiny USA travel tirelessly all over the United States, and beyond, to identify possible new businesses to attract to Syracuse. They are constantly meeting with potential tenants and following up with signed tenants. It is their job to represent Syracuse and everything the community has to offer to these new stores. Here are some of the most recent cities that our leasing reps have visited:• NewYorkCity• NiagaraFalls• Cleveland,OH• Chicago,IL• LosAngeles,CA• Irvine,CA• Newark,NJ• Boston,MA• Atlanta,GA• Miami,FL• PigeonForge,TN• Dallas,TX• Ft.Lauderdale,FL

Each week our leasing team is researching new ideas and is out in the field. In addition to traveling, leasing representatives work to bring potential tenants to Syracuse so that they can experience Central New York first-hand. In just this past week alone, Destiny USA has hosted businesses from: • Cleveland,OH• Boston,MA• Houston,TX• Lexington,MA• NewYorkCity• NiagaraFall,NY• Newark,NewJersey• StateCollege,PA• SanFrancisco,CA• Irvine,CA

Our leasing team continues to work hard to help create the best shopping, dining and entertainment experience for our visitors.

Where in the world are Destiny USA’s leasing reps?

Learning from our Audience

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Professor Anthony Rotolo assigns a student tohisclientusingthe“SortingHat”

Severaldifferentactivitieskeepthestudents engaged

Students follow their twitter stream through-

out the entire class period