SOURCE: Developers Diversified Realty

August 08, 2005 19:39 ET

Developers Diversified Realty Announces Conference Call

Company to Acquire 36 Mervyn's Locations

CLEVELAND, OH -- (MARKET WIRE) -- August 8, 2005 -- Developers Diversified Realty (NYSE: DDR) and Macquarie DDR Trust ("MDT") announced an agreement to purchase 36 open and operating Mervyn's locations, totaling 2.74 million square feet. A powerpoint presentation, which provides additional information on the transaction and the individual store locations, is available on the Company's website, http://www.ddr.com/mervyns-powerpoint.

Interested parties are invited to join Developers Diversified's executive management team for a conference call to discuss the transaction on Tuesday, August 9, 2005 at 10:30 a.m. EDT. The conference call can be accessed by dialing 888.396.2356 at least ten minutes prior to the scheduled start of the call. When prompted, provide the passcode: 16504431. Callers will also be able to participate in the question and answer period of the conference call.

The conference call will be recorded and will be available for replay beginning at 12:30 p.m., August 9, 2005, and will be available until 11:59 p.m., September 8, 2005. To access the conference call recording, please call 888.286.8010 and use the passcode: 58450771. The conference call will be webcast and can be accessed via Developers Diversified's website, www.ddr.com.

Including the assets in this acquisition, Developers Diversified Realty currently owns and manages more than 500 operating and development retail properties in 44 states and Puerto Rico totaling 114 million square feet of real estate under management. Developers Diversified is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which develops, leases and manages shopping centers. You can learn more about Developers Diversified on the Internet at www.ddr.com.

Contact Information

  • Contact:
    Michelle M. Dawson
    Vice President of Investor Relations
    Developers Diversified Realty
    Ph: 216.755.5500
    Email: Email Contact