Cedar Shopping Centers Announces Tax Allocations For 2010 Dividend Distributions

PORT WASHINGTON, N.Y., Jan. 28, 2011 /PRNewswire/ -- Cedar Shopping Centers, Inc. (NYSE: CDR - CUSIP #150602209) today announced tax allocations for its 2010 dividend distributions.

With respect to dividends actually or deemed distributed in 2010 on the Company's common shares, aggregating $0.28 per share, 100% were a return of capital and 0% were taxable ordinary income.   Such amounts include (a) $0.27 per share in the aggregate paid on May 20, 2010, August 20, 2010 and November 22, 2010, and (b) $0.01 per share of the aggregate $0.09 per share paid on January 20, 2010, to shareholders of record as of December 31, 2009.

With respect to dividends paid in 2010 on the Company's 8 7/8% Series A Cumulative Redeemable Preferred Stock, 55.76% were a return of capital and 44.24% were taxable ordinary income and non-qualified.

About Cedar Shopping Centers, Inc.

Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of "bread and butter"® supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company presently owns (both exclusively or in joint venture) and manages approximately 15.9 million square feet of GLA at 133 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with average remaining lease terms of approximately 11 years.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.cedarshoppingcenters.com.

SOURCE Cedar Shopping Centers, Inc.

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