Pan Pacific Retail Properties Schedules Release Date for Second Quarter Results

Pan Pacific Retail Properties, Inc. (NYSE:PNP)
announced today that it intends to file on Thursday, July 27, 2006,
its Form 10-Q for the three months ended June 30, 2006, with the
Securities and Exchange Commission. In light of its pending
transaction with Kimco Realty Corporation, the Company will not issue
a second quarter 2006 earnings press release and will not hold its
previously scheduled earnings conference call.

   About Pan Pacific Retail Properties

   Pan Pacific Retail Properties, Inc. is an equity real estate
investment trust (REIT) traded on the New York Stock Exchange under
the symbol PNP. The Company is the largest neighborhood shopping
center REIT focused exclusively on the West Coast. Pan Pacific's
portfolio currently totals 138 properties, encompassing approximately
22.6 million square feet of retail space. The portfolio is principally
diversified across five distinct regions in the Western United States:
Northern California, Southern California, Washington, Oregon and
Nevada.
   Pan Pacific specializes in the acquisition, ownership and
management of community and neighborhood shopping centers for everyday
essentials. The Company's strategy is aimed at generating long-term
stable cash flow through maintaining a diverse portfolio and tenant
base, balanced with consistent growth through its acquisition and
property management programs.
   Pan Pacific is headquartered in Vista (San Diego), California, and
has regional offices located in Sacramento, California; Kent,
Washington; Portland, Oregon; and Las Vegas, Nevada.
   Additional information on Pan Pacific is available on the
Company's web site at www.pprp.com.