Developers Diversified Announces Resignation of Director and Election of New Director

  Developers Diversified Realty (NYSE: DDR)
today announced that James C. Boland has been appointed to serve as a new
Director on the Company's Board of Directors and Dean S. Adler has resigned
from the Board.

Dean S. Adler notified the Board of Directors on September 3, 2009 of his intention to resign. He noted that his resignation was not due to any disagreement with the Company or any matter relating to the Company's operations, policies or practices.

On September 9, 2009, the Board of Directors appointed James C. Boland to serve as a new Director. His initial term will end at the Company's 2010 Annual Meeting of Shareholders. He will serve on the Audit Committee.

James C. (Jim) Boland spent 34 years with Ernst & Young. He joined Ernst & Young in 1964 after spending two years as an officer in the United States Army. Jim became a partner in 1976 and served as a member of the firm's management committee from 1988 to 1997. He also had operating responsibility as Vice Chairman and Regional Managing Partner of Ernst & Young's Central Region from 1988 to 1996. After Ernst & Young, Jim served as President, CEO and Vice Chairman of the Cavaliers Operating Company from 1998 to 2007.

Jim serves on the Boards of The Sherwin-Williams Company where he chairs the Audit Committee and serves on the Nominating and Corporate Governance Committee; Invacare Corporation where he is lead director, chairs the Governance and Compensation and Management Development Committees and serves on the Audit Committee; and The Goodyear Tire & Rubber Company where he is the lead director, chairs the Audit Committee and serves on the Governance Committee.

Scott Wolstein, Developers Diversified's Chief Executive Officer and Chairman of the Board, commented, "We are pleased to welcome Jim to our Board of Directors. His extensive background in accounting and deep experience with high quality companies outside of the real estate universe will bring a fresh perspective and a new dynamic to the Board. We would also like to thank Dean Adler for his 12 years of dedicated service on our Board."

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.

Contact: Kate Deck Investor Relations Director Developers Diversified Realty Main: [phone] E-mail: Email Contact