Macy's will open a one-level, 120,000-square-foot store on October 17. The department store features a full range of apparel and accessories for men, women and children, as well as merchandise for the home.

A ribbon-cutting ceremony for the new store will take place outside Macy's west entrance, facing Highway 84 at 9:30 a.m. on Saturday. At 10 a.m., the first 500 customers to enter the store will receive a $10 gift card. Throughout the day, Macy's will host an array of special events including product demonstrations, face painting for children, complimentary coffee, pet adoptions and many other exciting events and promotions. To add to the festivities, a performance by the locally known Rolando Ortego band will take place at 11 a.m.

Macy's joins an already superior tenant lineup at Nampa Gateway Center. Sports Authority opened an expanded, full-line store on August 8, 2009 and Idaho Athletic Club opened a 29,005 square-foot facility on October 7, 2009. JCPenney has been open at the center since July 2007. Additionally, a 50,000 square-foot, 12 screen, state of the art digital Edwards Theatres is projected to open in December 2010.

The shopping center's architecture is characteristic of the western mountain states, with an abundance of natural stone and timber. The complex is pedestrian-friendly, with inviting walkways and a number of consumer amenities.

Developers Diversified, as of June 30, 2009, owns and manages approximately 690 retail operating and development properties in 45 states, plus Puerto Rico, Brazil and Canada, totaling approximately 151 million square feet. Developers Diversified is a self administered and self-managed REIT operating as a fully integrated real estate company that acquires, develops, leases and manages shopping centers. Additional information about Developers Diversified is available on the Internet at www.ddr.com.

SOURCE: Developers Diversified Realty Corporation

Developers Diversified 
Scott Schroeder, 216-755-5500 
Vice President of Marketing & Corporate Communications

Expected next investor conference call information:
Conference Call Date: 10/23/2009
Conference Call Time (ET): 10:00 AM
Conference Call URL: http://ir.ddr.com/events.cfm

Expected next investor conference call information:
Conference Call Date: 10/23/2009
Conference Call Time (ET): 10:00 AM
Conference Call URL: http://ir.ddr.com/events.cfm

David Oakes, Senior Executive Vice President of Finance and Chief Investment Officer, commented, "We are pleased to announce continued progress raising long-term capital to retire short-term debt, and we look forward to announcing additional progress in the coming months."

Developers Diversified Realty Corporation considers portions of this information to be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements, including, among other factors, that the loan will be eligible for the TALF program. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Developers Diversified Realty Corporation, as of June 30, 2009, owns and manages approximately 690 retail operating and development properties in 45 states, plus Puerto Rico, Brazil and Canada, totaling approximately 151 million square feet. Developers Diversified Realty Corporation is a self-administered and self-managed REIT operating as a fully integrated real estate company that acquires, develops, leases and manages shopping centers. Additional information about Developers Diversified is available on the Internet at www.ddr.com.

SOURCE: Developers Diversified Realty Corporation

Developers Diversified Realty 
Kate Deck, Investor Relations Director, 216-755-5500 
kdeck@ddr.com