Cleveland -- Developers Diversified Realty (NYSE:DDR) (“DDR”) today announced the launch of a new program designed to improve the Company’s corporate identity at its 260 properties.

"This program will increase visibility and name recognition at our shopping centers further illustrating DDR’s market dominance to our tenants, shoppers and investors, " said David Jacobstein, DDR’s president and chief operating officer.

A by-product of the property identification program was the redesign of the Company’s corporate logo, which now exemplifies the momentum that DDR has gained as a premier owner, developer and manager of market dominant community shopping centers. Jacobstein added that he expects complete program implementation by summer, 2001.

Developers Diversified Realty currently owns and manages 260 shopping centers in 41 states totaling in excess of 60 million square feet of real estate. DDR is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which acquires, develops and leases shopping centers. You can learn more about DDR, and view the Company’s new logo, on the Internet at http://www.ddrc.com