Developers Diversified Declares First Quarter 2010 Class G Preferred Share Dividend

CLEVELAND, Feb. 16 /PRNewswire-FirstCall/ -- Developers Diversified Realty Corporation (NYSE: DDR) declared its first quarter 2010 Preferred Class G stock dividend of $0.50 per depositary share. Each Class G depositary share is equal to one-tenth of a share of Developers Diversified's 8.00% Class G Cumulative Redeemable Preferred Stock.

The declared Preferred Class G dividend covers the period beginning December 15, 2009 and ending March 14, 2010. The declared Preferred Class G Dividend is payable on March 15, 2010 to shareholders of record at the close of business on March 1, 2010.

About Developers Diversified

Developers Diversified owns and manages approximately 665 retail operating and development properties in 44 states, Brazil, Canada and Puerto Rico. Totaling more than 147 million square feet, the Company's shopping center portfolio features open-air, value-oriented neighborhood and community centers, mixed-use centers and lifestyle centers located in prime markets with stable populations and high-growth potential. Developers Diversified is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls in and around Sao Paulo, Brazil. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company. Additional information about the Company is available on the Internet at www.ddr.com.

SOURCE Developers Diversified Realty Corporation

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