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Developers Diversified Realty Corporation: Developers Diversified Files Corrections to Form 4s

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^{Published in Business and Finance on Thursday, September 24th 2009 at 13:50 GMT by Market Wire}  

CLEVELAND, OH--(Marketwire - September 24, 2009) - Developers Diversified Realty (NYSE: [ DDR ]) today announced that it has filed five amended Form 4s on behalf of Scott Wolstein, Daniel Hurwitz, David Oakes, Richard Brown and Robin Walker-Gibbons. The Form 4s filed on September 22 incorrectly reported the number of securities transferred back to the Company to satisfy tax withholding obligations arising from the vesting of shares. The corrected amounts are listed below.

 Previously disclosed Actual shares Actual shares shares disposed disposed retained Scott Wolstein 103,611 73,352 103,611 Daniel Hurwitz 22,532 5,132 22,532 David Oakes 81,689 4,117 81,689 Richard Brown 1,963 705 1,963 Robin Walker-Gibbons 2,296 197 2,296 ----------- ----------- ----------- Total 212,091 83,503 212,091 

No executive received any cash as a result of these exempt dispositions back to the Company.

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 approximately 151 million square feet. The Company is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops and leases shopping centers. Additional information about Developers Diversified is available on the Internet at [ http://www.ddr.com ].