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Developers Diversified Realty Corporation: Developers Diversified Realty Declares Third Quarter 2009 Class H and Class I Prefer

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^{Published in Business and Finance on Tuesday, September 15th 2009 at 5:39 GMT by Market Wire}  

CLEVELAND, OH--(Marketwire - September 15, 2009) - Developers Diversified Realty (NYSE: [ DDR ]), the nation's leading owner, developer and manager of market-dominant shopping centers, declared its third quarter 2009 Preferred Class H stock dividend of $0.460938 per depositary share and Preferred Class I stock dividend of $0.46875 per depositary share.

Each Class H depositary share is equal to one-twentieth of a share of Developers Diversified's 7.375% Class H Cumulative Redeemable Preferred Stock. The declared Preferred Class H dividend covers the period beginning July 15, 2009 and ending October 14, 2009. The declared Preferred Class H Dividend is payable October 15, 2009 to shareholders of record at the close of business on October 1, 2009.

Each Class I depositary share is equal to one-twentieth of a share of Developers Diversified's 7.5% Class I Cumulative Redeemable Preferred Stock. The declared Preferred Class I dividend covers the period beginning July 15, 2009 and ending October 14, 2009. The declared Preferred Class I Dividend is payable October 15, 2009 to shareholders of record at the close of business on October 1, 2009.

Developers Diversified as of June 30, 2009 owned and managed approximately 690 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, and Canada, totaling over 151 million square feet. Developers Diversified Realty is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops, leases and manages shopping centers. Additional information about Developers Diversified Realty is available on the Internet at [ http://www.ddr.com ].