DDR Ddr Corp.

Developers Diversified Declares Quarterly Preferred Share Dividends CLEVELAND, July 7 /PRNewswire-FirstCall/ -- Developers Diversified Realty (NYSE:DDR) announced today declaration of its third quarter 2004 Preferred Class F and Preferred Class G stock dividends. (Logo: http://www.newscom.com/cgi-bin/prnh/19990826/DDRLOGO ) -- Third Quarter 2004 Preferred Class F Stock Dividend: $0.5375 per depository share Each Class F Depositary Share is equal to one tenth of a share of DDR's 8.60% Class F Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on June 15, 2004 and ending on September 14, 2004. The declared Preferred Class F Dividend is payable September 15, 2004 to shareholders of record at the close of business on September 1, 2004. -- Third Quarter 2004 Preferred Class G Stock Dividend: $0.5000 per depository share Each Class G Depositary Share is equal to one tenth of a share of DDR's 8.00% Class G Cumulative Redeemable Preferred Stock. This dividend covers the period beginning on June 15, 2004 and ending on September 14, 2004. The declared Preferred Class G Dividend is payable September 15, 2004 to shareholders of record at the close of business on September 1, 2004. Developers Diversified owns and manages over 470 retail operating and development properties totaling approximately 102 million square feet of real estate in 44 states. Developers Diversified is a self-administered and self- managed real estate investment trust (REIT) operating as a fully integrated real estate company which develops, leases and manages shopping centers. You can learn more about Developers Diversified on the internet at http://www.ddr.com/ . http://www.newscom.com/cgi-bin/prnh/19990826/DDRLOGO http://photoarchive.ap.org/ DATASOURCE: Developers Diversified Realty Corporation CONTACT: William H. Schafer, Senior Vice President and Chief Financial Officer of Developers Diversified Realty, +1-216-755-5500 Web site: http://www.ddr.com/

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