Developers Diversified Realty Announces Expansion of Parque Dom Pedro in Brazil Now Open

BEACHWOOD, Ohio, Nov. 11, 2010 /PRNewswire-FirstCall/ -- Developers Diversified Realty Corporation (NYSE: DDR) today announced that the company's joint venture in Brazil, Sonae Sierra Brasil, has opened a nearly 60,000 square-foot expansion at Parque Dom Pedro Shopping, now a 1.3 million square-foot enclosed mall in Campinas, Brazil.

Sonae Sierra Brasil is a fully integrated owner, manager and developer of shopping centers in Brazil, and is a joint venture between Developers Diversified and Sonae Sierra, headquartered in Portugal. Sonae Sierra Brasil owns and manages 10 shopping centers in Brazil, totaling 3.9 million square feet.

The Parque Dom Pedro expansion opened fully-leased and features local, national and international retailers including Nike and Adidas, among many others. The center currently features over 400 retailers and restaurants including Walmart, Zara, FNAC, C&A, Renner, Riachuelo, Etna, Centauro, Telha Norte, and many others.

"Developers Diversified's operations in Brazil continue to perform exceptionally well," commented Richard Brown, executive vice president of international for Developers Diversified. "This expansion is expected to provide an attractive return on our invested capital, and solidifies Parque Dom Pedro as the dominant shopping center in the Campinas market."

About Developers Diversified Realty

Developers Diversified owns and manages approximately 590 retail operating and development properties in 41 states, Brazil, Canada and Puerto Rico. Totaling more than 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

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