Developers Diversified Realty and Five Below Open Six Stores in 2010

BEACHWOOD, Ohio, Nov. 30, 2010 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) and Five Below today announced the two companies opened six locations in 2010.

Five Below is a leading retailer of trend-right, extreme value merchandise between $1 and $5 for teens and pre-teens.

Developers Diversified shopping centers in Macedonia, Stow and Columbus, Ohio; Apex, North Carolina; Horseheads, New York; and Princeton, New Jersey all opened Five Below locations in 2010. Five Below expanded their stores in Hamilton and Mays Landing, New Jersey this year as well.

Robin Walker-Gibbons, executive vice president of leasing for Developers Diversified said, "Consumers have made a substantial and permanent shift to value. Five Below's combination of exceptional value with quality, trendy merchandise will complement our existing tenants, drive family traffic to the centers, and will offer our shoppers additional choice, value and convenience. We expect strong sales for Five Below at these Prime assets."

About Developers Diversified Realty

Developers Diversified owns and manages approximately 590 retail operating and development properties in 41 states, Brazil, Canada and Puerto Rico. Totaling more than 134 million square feet, the Company's shopping center portfolio features open-air, value-oriented neighborhood and community centers, mixed-use centers and lifestyle centers located in prime markets with stable populations and high-growth potential. Developers Diversified is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls in and around Sao Paulo, Brazil. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company. Additional information about the Company is available on the Company's website at www.ddr.com.

SOURCE Developers Diversified Realty Corporation

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