Developers Diversified Realty Responds to Press Release Announcing Coventry Lawsuit

CLEVELAND--(Business Wire)--
Developers Diversified Realty Corporation (NYSE: DDR) today announced that it
has received a copy of the press release issued today by Coventry Real Estate
Advisors. While the Company has not been served with the lawsuit or seen the
complaint, in response to the allegations in the press release, the Company
stated that it vehemently denies the allegations set forth in the press release,
and will vigorously defend itself against such allegations in any legal
proceeding. Further, the Company stated that it has not received notice of
termination of any agreement with Coventry, and denies that it has breached any
terms of any such agreements.

Developers Diversified owns and manages approximately 670 retail operating and
development properties in 44 states, Brazil, Canada and Puerto Rico. Totaling
more than 148 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 Internet at www.ddr.com.

Developers Diversified
Scott Schroeder, 216-755-5500
Vice President of Marketing & Corporate Communications

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