Cedar Shopping Centers Announces its Inclusion in S&P SmallCap 600

PORT WASHINGTON, N.Y., July 31 /PRNewswire-FirstCall/ -- Cedar Shopping
Centers, Inc. (NYSE: CDR) today announced that, effective after the close of
trading on Monday, August 4, the Company will be included in the Standard &
Poor's S&P SmallCap 600 index. Cedar is presently a constituent in the S&P
REIT Composite Index.

About Cedar Shopping Centers

Cedar Shopping Centers, Inc. is a fully-integrated real estate investment
trust which focuses primarily on ownership, operation, development and
redevelopment of supermarket-anchored shopping centers in nine mid-Atlantic
and New England states. The Company has realized significant growth in assets
and has completed a number of developments and redevelopments of retail
properties since its public offering in October 2003. The Company presently
owns and operates 119 properties aggregating approximately 12 million square
feet of gross leasable area. The Company also owns a substantial pipeline of
development properties as well as approximately 382 acres of generally
unimproved land held primarily for ground-up development projects.

SOURCE Cedar Shopping Centers, Inc.

Leo S. Ullman, Chairman, CEO and President of Cedar Shopping Centers, Inc.,
+1-516-944-4525, lsu@cedarshoppingcenters.com