Developers Diversified Realty Announces the Date of Its Second Quarter Earnings Release and Conference Call

CLEVELAND, OH , the leading owner, manager and developer of market-dominant shopping centers, today announced that financial results for the quarter ended June 30, 2008, will be released after the market closes on Thursday, July 24, 2008. The Company will conduct a conference call and audio webcast on Friday, July 25, 2008 at 10:00 a.m. EDT.

To access the conference, dial 866.713.8563 (domestic), or 617.597.5311 (international) at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 81219118.

The conference call will be recorded and available for replay beginning at 12:00 p.m. on July 25, 2008 and will be available until 5:00 p.m. on August 23, 2008. To access the conference call recording, dial 888.286.8010 (domestic), or 617.801.6888 (international) and use the passcode: 50135756. The conference call webcast can be accessed via the Developers Diversified website, www.ddr.com.

Developers Diversified owns and manages over 740 retail properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada totaling 163 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 Realty is available on the Internet at http://www.ddr.com.

Contact: Michelle M. Dawson Vice President of Investor Relations Developers Diversified Realty Main: [phone] E-mail: Email Contact