DDR Ddr Corp.

Developers Diversified Realty (NYSE:DDR) announced today the declaration of its second quarter 2005 Preferred Class H and Class I stock dividends. -- Second Quarter Preferred Class H Stock Dividend: $0.460938 per depository share Each Class H Depositary Share is equal to one twentieth of a share of Developers Diversified's 7.375% Class H Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on April 15, 2005 and ending on July 14, 2005. The declared Preferred Class H Dividend is payable July 15, 2005 to shareholders of record at the close of business on July 1, 2005. -- Second Quarter Preferred Class I Stock Dividend: $0.46875 per depository share Each Class I Depositary Share is equal to one twentieth of a share of Developers Diversified's 7.5% Class I Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on April 15, 2005 and ending on July 14, 2005. The declared Preferred Class I Dividend is payable July 15, 2005 to shareholders of record at the close of business on July 1, 2005. Developers Diversified Realty currently owns and manages over 470 operating and development properties totaling approximately 109 million square feet of real estate in 44 states and Puerto Rico. Developers Diversified is a self-administered and managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops, leases and manages shopping centers. Additional information about Developers Diversified is available on the Internet at http://www.ddr.com.