Inland Real Estate Corporation Pays May and Declares June Cash Distribution to Common Stockholders

OAK BROOK, Ill.--(Business Wire)--
Inland Real Estate Corporation (NYSE: IRC) today announced that on May 18, 2009
it paid a cash distribution of $0.08167 per share on the outstanding shares of
its common stock to common stockholders of record at the close of business on
April 30, 2009. The Company had 66,951,411 shares of common stock outstanding as
of April 30, 2009.

The Company has declared a cash distribution of $0.0475 per share on the
outstanding shares of its common stock, payable on June 17, 2009 to common
stockholders of record at the close of business on June 1, 2009. Subsequent to
the close of its common stock offering on May 15, 2009, the Company had
84,086,111 shares of common stock outstanding.

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed publicly
traded real estate investment trust that owns interests in over 140 open-air
neighborhood, community, power and lifestyle retail centers and single-tenant
properties located primarily in the Midwestern United States, with aggregate
leasable space of more than 14 million square feet. Additional information on
Inland Real Estate Corporation is available at http://www.inlandrealestate.com.

This press release contains forward-looking statements. Forward-looking
statements are statements that are not historical, including statements
regarding management`s intentions, beliefs, expectations, representations, plans
or predictions of the future, and are typically identified by such words as
"believe," "expect," "anticipate," "intend," "estimate," "may," "will," "should"
and "could."The Company intends that such forward-looking statements be subject
to the safe harbors created by Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. There are numerous risks and
uncertainties that could cause actual results to differ materially from those
set forth in the forward-looking statements. Please refer to the documents filed
by Inland Real Estate Corporation with the SEC, specifically the Form 10K for
the year ended December 31, 2008, for a more complete discussion of these risks
and uncertainties. Inland Real Estate Corporation disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.

Inland Real Estate Corporation (Investors/Analysts):
Dawn Benchelt, Investor Relations Director
(630) 218-7364
ir@inlandrealestate.com
or
Inland Communications, Inc. (Media):
Matthew Tramel, Media Relations Director
(630) 218-8000 x4896
tramel@inlandgroup.com

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