KIMCO PROXY CARD

EXHIBIT 99.1

KIMCO REALTY CORPORATION
3333 New Hyde Park Road
New Hyde Park, NY 11042-0020

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD
OF DIRECTORS OF KIMCO REALTY CORPORATION
FOR THE ANNUAL MEETING OF STOCKHOLDERS
To be held on June 19, 1998


The undersigned hereby appoints Milton Cooper, Michael J. Flynn and Bruce
Kauderer as Proxies, each with the power to appoint his substitute, and hereby
authorizes them to represent and to vote, as designated below, all the Common
Stock of Kimco Realty Corporation held of record by the undersigned on May 8,
1998, at the Annual Meeting of Stockholders to be held on June 19, 1998, or any
adjournments or postponements thereof.

The Board of Directors recommends a vote FOR the Kimco Share Proposal, FOR
all of the nominees for the Board of Directors, FOR the approval of the Kimco
1998 Equity Participation Plan and for the Kimco Adjournment Proposal.

To vote FOR the Kimco Share Proposal, FOR all the nominees for director,
FOR the approval of the Kimco 1998 Equity Participation Plan and for the Kimco
Adjournment Proposal, just sign and date the reverse side. No boxes need be
checked.

SEE REVERSE
SIDE

(CONTINUED AND TO BE SIGNED ON REVERSE SIDE)


Please mark
votes as in
this example
|X|

This proxy, when properly executed, will be voted in the manner directed herein
by the undersigned stockholder. If no direction is made, this proxy will be
voted FOR the Kimco Share Proposal, FOR the election of all nominees for
director, FOR the approval of the Kimco 1998 Equity Participation Plan and
for the Kimco Adjournment Proposal and in the discretion of the Proxies upon
such other business as may properly come before the Kimco Annual Meeting. By
executing this proxy, the undersigned hereby revokes all prior proxies.

1. Approval of Kimco Share Proposal

FOR | | AGAINST | | ABSTAIN | |

2. Election of Directors

Nominees: M. Kimmel, M. Cooper, J. Grills, R. Dooley, M.
Flynn, F. Lourenso

FOR | | WITHHELD | |

--------------------------------------
| | For all nominees except as noted above

3. Approval of the Kimco 1998 Equity Participation Plan

FOR | | AGAINST | | ABSTAIN | |

4. Approval of the Kimco Adjournment Proposal

FOR | | AGAINST | | ABSTAIN | |

MARK HERE MARK HERE IF
FOR ADDRESS YOU PLAN
CHANGE AND TO ATTEND
NOTE AT LEFT | | THE MEETING | |


PLEASE MARK, SIGN, DATE AND RETURN THE PROXY CARD
PROMPTLY USING THE ENCLOSED ENVELOPE

Please sign exactly as name appears at left. When shares are held by
joint tenants, both should sign. When signing as attorney, as executor,
administrator, trustee or guardian, please give full title as such. If a
corporation, please sign in full corporate name by president or other
authorized officer. If a partnership, please sign in partnership name by
authorized person.


Signature: Date: , 1998
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