Developers Diversified Realty and MasterCard Worldwide Launch Gift Card in Puerto Rico

BEACHWOOD, Ohio, Jan. 24, 2011 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) today announced a new gift card partnership with MasterCard Worldwide in Puerto Rico.

The MasterCard program, called the Isla Plus Gift Card, represents an extension of a significant, long-term partnership between the two companies in Puerto Rico. Developers Diversified shopping centers in Puerto Rico provide MasterCard Worldwide with an ideal platform to advertise the MasterCard brand at the point of purchase. The Isla Plus Gift Card is designed to promote even greater acceptance among merchants and consumers, and provide the flexibility consumers demand in gift card programs.  

"We are very pleased to partner with Developers Diversified to launch our new gift card," said Ricardo Perez, vice president, Latin America & Caribbean commerce development for MasterCard Worldwide. "Because the Isla Plus Gift Card can be used everywhere MasterCard is accepted, the recipient has significantly more options to redeem, making the card an ideal gift for family and friends in Puerto Rico as well as those living in or traveling to the United States."

Developers Diversified is the largest retail landlord in Puerto Rico, owning and managing 15 shopping centers on the island. Collectively known in Puerto Rico as Centros Isla, these shopping centers total five million square feet, and together these centers are nearly 97 percent leased.

About Developers Diversified Realty

Developers Diversified owns and manages approximately 570 retail operating and development properties in 40 states, Brazil, Canada and Puerto Rico. Totaling approximately 134 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 Company's website at www.ddr.com.

SOURCE Developers Diversified Realty Corporation