Developers Diversified Files Corrections to Form 4s

  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.

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