Kimco Realty Corporation Closes $220 Million Unsecured Term Loan

NEW HYDE PARK, N.Y.--(Business Wire)--
Kimco Realty Corporation (NYSE: KIM) today announced that it closed on a new
$220 million two-year unsecured term loan. The loan, which bears interest at an
annual rate of LIBOR (subject to a 2.00% LIBOR floor) plus 465 basis points,
will mature in April 2011. The loan was increased 10 percent to $220 million
from its initial size of $200 million.

The Company recently repaid $130 million of its unsecured medium term notes,
bearing interest at 6.88%, through use of its U.S. unsecured revolving credit
facility. Proceeds from this term loan will be used to partially repay
outstanding amounts under the U.S. credit facility. After these pay downs, the
Company will have approximately $1.6 billion of available borrowing capacity
under its credit facilities, which bear interest at a rate of LIBOR plus 42.5
basis points and expire in 2012 (with extension).

The Bank of Nova Scotia and RBC Capital Markets acted as joint lead arrangers
and joint book-running managers. A consortium of twelve banks, each providing
between $5 million to $40 million, participated in the facility.

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT), owns and
operates one of North America`s largest portfolios of neighborhood and community
shopping centers. As of December 31, 2008, the company owned interests in 1,950
properties comprising 182 million square feet of leasable space across 45
states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the
NYSE under the symbol KIM and included in the S&P 500 Index, the company has
specialized in shopping center acquisitions, development and management for 50
years.

Safe Harbor Statement

The statements in this release state the company's and management's intentions,
beliefs, expectations or projections of the future and are forward-looking
statements. It is important to note that the company's actual results could
differ materially from those projected in such forward-looking statements.
Factors that could cause actual results to differ materially from current
expectations include, but are not limited to, (i) general adverse economic and
local real estate conditions, including the current economic recession, (ii) the
inability of major tenants to continue paying their rent obligations due to
bankruptcy, insolvency or a general downturn in their business, (iii) financing
risks, such as the inability to obtain equity, debt, or other sources of
financing or refinancing on favorable terms, (iv) the company`s ability to raise
capital by selling its assets, (v) changes in governmental laws and regulations,
(vi) the level and volatility of interest rates and foreign currency exchange
rates, (vii) the availability of suitable acquisition opportunities, (viii)
valuation of joint venture investments, (ix) valuation of marketable securities
and other investments, (x) increases in operating costs, (xi) changes in the
dividend policy for our common stock, (xii) the reduction in our income in the
event of multiple lease terminations by tenants or a failure by multiple tenants
to occupy their premises in a shopping center, and (xiii) impairment charges.
Additional information concerning factors that could cause actual results to
differ materially from those forward-looking statements is contained from time
to time in the company's Securities and Exchange Commission filings, including
but not limited to the company's Annual Report on Form 10-K for the year ended
December 31, 2008. Copies of each filing may be obtained from the company or the
Securities and Exchange Commission.

The company refers you to the documents filed by the company from time to time
with the Securities and Exchange Commission, specifically the section titled
"Risk Factors" in the prospectus supplement and the accompanying prospectus for
this offering and in the company's Annual Report on Form 10-K for the year ended
December 31, 2008, as may be updated or supplemented in the company`s Form 10-Q
filings, which discuss these and other factors that could adversely affect the
company's results.

Kimco Realty Corporation
Barbara Pooley, 1-866-831-4297
senior vice president, finance & investor relations

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