Developers Diversified Realty Revises the Date of Its Fourth Quarter Earnings Release and Conference Call

  Developers Diversified Realty (NYSE: DDR),
the leading owner, manager and developer of market-dominant shopping
centers, today announced a revised date for the release of the financial
results and conference call for the quarter ended December 31, 2008.  The
revision is due to conflicting schedules, and not a result of any issues
regarding the results of operations or financial condition or the
preparation of financial statements.  The results will be released before
the market opens on Monday, February 23, 2009.  The Company will conduct a
conference call and audio webcast on Monday, February 23, 2009 at 4:00 p.m.
EST.

To access the conference, dial 866.202.3048 (domestic), or 617.213.8843 (international) at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 94384914.

The conference call will be recorded and available for replay beginning at 6:00 p.m. on February 23, 2009 and will be available until 5:00 p.m. on March 24, 2009. To access the conference call recording, dial 888.286.8010 (domestic), or 617.801.6888 (international) and use the passcode: 72000175. The conference call webcast can be accessed via the Developers Diversified website, www.ddr.com.

Developers Diversified owns and manages over 720 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada totaling 159 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: Francine Glandt Treasurer and Vice President of Finance Developers Diversified Realty Main: [phone] E-mail: Email Contact