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NEW HYDE PARK, N.Y.--([ BUSINESS WIRE ])--Kimco Realty Corporation (NYSE: KIM) today announced the offering of 16,000,000 depositary shares, each representing a 1/1000 fractional interest in a share of the companyas 6.00% Class I Cumulative Redeemable Preferred Stock, $1.00 par value per share. These depositary shares, priced at $25.00 per depositary share, entitle holders of each depositary share to a 6.00% cumulative dividend or $1.50 per annum, are not convertible into common stock and are redeemable at par at the option of the company on and after March 20, 2017. The company has granted the underwriters a 30-day option to purchase up to an additional 2,400,000 depositary shares to cover over-allotments, if any.

The company intends to use the net proceeds received from the offering for general corporate purposes, including to reduce borrowings outstanding under its revolving credit facility by at least $225 million and to redeem shares of the companyas preferred stock when they become redeemable at the companyas option.

Citigroup, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Investment Bank and Wells Fargo Securities are the joint book-running managers of the offering. J.P. Morgan and RBC Capital Markets are the joint lead managers for the offering. BNY Mellon Capital Markets, LLC, Credit Suisse, Deutsche Bank Securities, Raymond James, Morgan Keegan and Company, Inc., Piper Jaffray, Scotia Capital and Stifel Nicolaus Weisel are the co-managers for the offering.

The offering is expected to be completed on March 20, 2012, and is subject to customary closing conditions.

Copies of the preliminary prospectus supplement and the prospectus supplement relating to the offering may be obtained from (i) Citigroup Global Markets, Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus Department, telephone 1-800-831-9146 or email: batprospectusdept@citi.com; (ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated, at 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department, telephone: (800) 294-1322, email: dg.prospectus_requests@baml.com; (iii) UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, telephone 1-877-827-6444, extension 561-3884; or (iv) Wells Fargo Securities, LLC at Attn: Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, telephone: (800) 326-5897, email: cmclientsupport@wellsfargo.com.

A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT KIMCO

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that owns and operates the largest portfolio of neighborhood and community shopping centers in North America. As of December 31, 2011, the company owned interests in 946 shopping centers, comprising 138 million square feet of leasable space across 44 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years.

SAFE HARBOR STATEMENT

The statements in this release state the companyas and managementas intentions, beliefs, expectations or projections of the future and are forward-looking statements. It is important to note that the companyas actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, but are not limited to, (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms, (iv) the companyas ability to raise capital by selling its assets, (v) changes in governmental laws and regulations, (vi) the level and volatility of interest rates and foreign currency exchange rates, (vii) the availability of suitable acquisition and disposition opportunities, (viii) valuation of joint venture investments, (ix) valuation of marketable securities and other investments, (x) increases in operating costs, (xi) changes in the dividend policy for the companyas common stock, (xii) the reduction in the companyas income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xiii) impairment charges and (xiv) unanticipated changes in the companyas intention or ability to prepay certain debt prior to maturity and/or hold certain securities until maturity. Additional information concerning factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the companyas Securities and Exchange Commission filings, including but not limited to the companyas Annual Report on Form 10-K for the year ended December 31, 2011. Copies of each filing may be obtained from the company or the Securities and Exchange Commission.

The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the sections titled aRisk Factorsa in the companyas preliminary prospectus supplement filed on March 8, 2012, the companyas prospectus dated April 24, 2009 and the Annual Report on Form 10-K for the year ended December 31, 2011, as may be updated or supplemented in the companyas Form 10-Q filings, which discuss these and other factors that could adversely affect the companyas results.