DDR Ddr Corp.

Developers Diversified Realty (NYSE: DDR), the nation's leading owner, developer and manager of market-dominant shopping centers, declared its first quarter 2009 Preferred Class G stock dividend of $0.50 per depositary share. Each Class G depositary share is equal to one-tenth of a share of Developers Diversified's 8.00% Class G Cumulative Redeemable Preferred Stock.

The declared Preferred Class G dividend covers the period beginning December 15, 2008 and ending March 14, 2009. The declared Preferred Class G Dividend is payable on March 16, 2009 to shareholders of record at the close of business on February 27, 2009.

Developers Diversified currently owns and manages over 720 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, and Canada, totaling over 159 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.

Contact: Francine Glandt Vice President of Capital Markets Developers Diversified Realty 216.755.5500