Developers Diversified Declares First Quarter 2010 Common Share Dividend

CLEVELAND, Feb. 16 /PRNewswire-FirstCall/ -- Developers Diversified Realty Corporation (NYSE: DDR) today declared its first quarter 2010 common stock dividend of $0.02 per share. The common dividend is payable April 6, 2010 to shareholders of record at the close of business on March 23, 2010.

The Board has elected to maintain a cash dividend comparable to recent quarters. Management and the Board will continue to review the dividend policy on a quarterly basis and make payments sufficient to maintain REIT status and provide yield to shareholders while prudently assessing the Company's current liquidity and the state of the capital markets.

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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