Developers Diversified Honored with Overall U.S. Community Support Award by the ICSC Foundation

BEACHWOOD, Ohio, April 1, 2011 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) today announced the company earned the 2011 ICSC Foundation Western Region Community Support Award as well as the 2011 Overall U.S. Community Support Award for its Giving Children Hope program at Buena Park Downtown in Buena Park, California.

The announcement was made at the International Council of Shopping Centers' (ICSC) Fusion Conference in Hollywood this week during the MAXI Award Ceremony.

A MAXI Silver recipient in the Cause-Related Marketing Category, Giving Children Hope by Buena Park Downtown was a food drive for local families in which the center solicited a local radio station and popular teen idol, Jason Derulo, and scheduled a benefit concert where food donations were the price of admission. The center collected 8,000 pounds of food, exceeding the charity's collection goal by over 500 percent.

"Developers Diversified is committed to making a difference in the communities in which it operates, and this tremendous honor for Buena Park Downtown validates the effort across our entire portfolio," said David J. Favorite, senior vice president of property management for Developers Diversified. "It is especially gratifying that this prestigious award will result in increased publicity, awareness and financial support for the Giving Children Hope charity in Buena Park."

Because Developers Diversified earned both the Western Region award and the Overall U.S. award, the Giving Children Hope charity in Buena Park will receive two gifts of $5,000 from the ICSC Foundation.

The ICSC Foundation Community Support Award program was created to encourage and recognize outstanding community support and corporate social responsibility campaigns by shopping centers or shopping center development or management companies.

About ICSC Foundation

Established in 1988, the ICSC Foundation is the leading and most prestigious foundation for the retail real estate industry and is the non-profit public charity of the International Council of Shopping Centers, Inc. Our mission is to promote and reward community support efforts and provide undergraduates, graduates and retail real estate practitioners educational scholarships.

About Developers Diversified Realty

Developers Diversified owns and manages approximately 570 retail operating and development properties in 41 states, Brazil, Canada and Puerto Rico. Totaling approximately 132 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 primarily clustered 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 Company's website at www.ddr.com.

SOURCE Developers Diversified Realty Corporation