DDR Ddr Corp.

Developers Diversified Realty (NYSE: DDR), the nation's leading owner, developer and manager of market-dominant shopping centers, declared its second quarter 2009 Preferred Class H stock dividend of $0.460938 per depositary share and Preferred Class I stock dividend of $0.46875 per depositary 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. The declared Preferred Class H dividend covers the period beginning April 15, 2009 and ending July 14, 2009. The declared Preferred Class H Dividend is payable July 15, 2009 to shareholders of record at the close of business on July 1, 2009.

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. The declared Preferred Class I dividend covers the period beginning April 15, 2009 and ending July 14, 2009. The declared Preferred Class I Dividend is payable July 15, 2009 to shareholders of record at the close of business on July 1, 2009.

Developers Diversified currently owns and manages over 700 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, and Canada, totaling over 153 million square feet. Developers Diversified Realty is a self-administered and self-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 Realty is available on the Internet at http://www.ddr.com.

Contact: Tom Morabito Senior Director of Investor Relations Developers Diversified Realty Main: (216) 755-5500 E-mail: Email Contact