EXHIBIT 99.1

Exhibit 99.1

Kimco Realty Corporation Reports 31.5 Percent
Increase in Second Quarter 2007 FFO Per Share

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--July 27, 2007--Kimco Realty
Corporation (NYSE: KIM), reported results for the quarter ending June
30, 2007.

Net income available to common shareholders was up 18.2 percent to
$125.1 million from $105.8 million in the second quarter of 2006 or
$0.49 per diluted share for the quarter, an increase of 14.0 percent
from $0.43 for the same period in 2006. Year-to-date, net income per
diluted share available to common shareholders was $1.07, up 28.9
percent from the same period in the prior year.

Funds from operations (FFO), a widely accepted supplemental
measure of REIT performance, grew to $184.2 million for the second
quarter 2007, an increase of 38.2 percent from $133.3 million in the
same period a year ago. Funds from operations per diluted share
increased by 31.5 percent to $0.71 from $0.54 in the second quarter of
2006. Year-to date, FFO per diluted share grew 39.3 percent to $1.49
from $1.07 for the same period in 2006. A reconciliation of net income
to FFO is provided in the attached tables.

Highlights for the second quarter 2007:

-- Announced 11.1 percent increase in common dividend;

-- Increased FFO per diluted share by 31.5 percent over the
second quarter of 2006;

-- Achieved growth in same-store net operating income for the
quarter of 4.0 percent;

-- At quarter end, posted a record high 95.8 percent of space
leased in the core holdings portfolio, a 100 basis point
increase from the same period a year ago;

-- Recognized $21.3 million of promoted income upon the sale of
ten assets from Kimco Retail Opportunity Portfolio (KROP);

-- Recognized $15.3 million in residual participation on the sale
of 625 Broadway, a mixed-use property located in New York; and

-- Recognized $15.0 million of residual participation from the
sale of 11 Apple Self Storage properties in Canada.

Portfolio Activity

Kimco's shopping center portfolio includes 959 properties: 867 in
the United States and Puerto Rico, 38 in Canada, 50 in Mexico and 4 in
Chile. Same-store growth in net operating income was 4.0 percent with
redevelopment having no impact in the current quarter. Same-store
growth has averaged 4.6 percent over the past eight quarters.

The company has more than 50 active redevelopment and development
projects in its portfolio, excluding merchant build projects, totaling
more than $1.6 billion in targeted investment. Redevelopment continues
at Westlake, an $80 million redevelopment project at the company's
650,000 square foot lifestyle center in Daly City, Calif. Both
Factoria Mall, a $50 million project in Bellevue, Wash., and Grant
Square, a $75 million mixed-use project in Orlando, Fla. which will
include a new 185,000 square foot Target, are complete site
redevelopments that are in the initial stages. Targeted yields for
these projects are estimated between 10 - 13 percent. The grand
opening of the District at Tustin Legacy, the company's one million
square foot lifestyle center being developed in partnership with
Vestar Development Company in Tustin, Calif., is scheduled in the
third quarter of 2007. In Mexico, Kimco has 18 projects underway with
targeted investment in excess of US $600 million which are expected to
generate yields between 12 - 16 percent. The centers range in size
from 200,000 square feet to 700,000 square feet and are anchored by
strong tenants such as Wal-Mart, HEB, Home Depot, Cinepolis and
Coppel.

Core Portfolio

For the quarter, the company signed a total of 259 leases totaling
947,000 square feet in its core holdings: 133 new leases for 406,000
square feet and 126 lease renewals for 541,000 square feet. The
average increase in contractual base rent on new leases signed for the
same space was approximately 11.3 percent on a cash basis.

During the quarter the company acquired nine properties totaling
1.8 million square feet for approximately $509.9 million in the U.S.,
including Flagler Plaza in Miami, Fla. and Suburban Square in Ardmore,
Pa. The company expects that both of these centers will be transferred
into its investment management programs. The company also acquired one
additional auto dealership in Toronto, Canada during the quarter for
$9.9 million.

In Mexico, Kimco sold a 50 percent interest in three development
properties into its Mexican joint venture with GE Real Estate for US
$15.7 million. Plaza Cuautla, a 560,000 square foot shopping center,
is located in Cuautla, just south of Mexico City and Plaza Mexiquense,
a 160,000 square foot center, is located in Tecamac, just north of
Mexico City. Both are anchored by Wal-Mart. The third center, Juarez
II, is a 150,000 square foot Wal-Mart anchored center located just
south of the Mexico/U.S. border near El Paso, Texas.

Two additional development projects in Mexico were approved during
the quarter totaling more than 500,000 square feet and estimated at
approximately US $50 million. The 188,000 square foot Plaza
Frontera-Monclava will be anchored by Wal-Mart as well as a theater.
The second project, a 319,000 square foot center in Tijuana, will be
anchored by SuperWal-Mart, Sam's, Home Depot and Cinepolis.

The Mexico Land Fund, a joint venture managed by Kimco, acquired a
36 acre land parcel in Mazatlan, Mexico for approximately US $11.8
million. The land will be held for future development.

Also in Mexico, the company acquired two new industrial properties
with its joint venture partner American Industries. The properties,
located in Chihuahua, were purchased for US $2.0 million.

Subsequent to the quarter end, the company closed on two
additional properties in Mexico. Plaza Refugio, a 221,000 square foot
shopping center located in Tijuana, was purchased in a 50/50 joint
venture with a local partner. Kimco purchased a 15% interest in
MagnoCentro26, a 245,000 square foot center, for US $8.3 million.

As previously announced, Kimco and its partner, Patio, S.A.,
acquired four neighborhood/convenience centers in Santiago, Chile. The
centers were purchased for US $16.5 million and total approximately
100,000 square feet with planned expansion of an additional 50,000
square feet. Tenants in the centers include Cencosud, the largest
retailer in Chile and Argentina, Cruz Verde, a leading pharmacy chain
and La Polar, a popular discount department store.

Kimco Investment Management Programs

The company acquired 11 shopping centers totaling 1.0 million
square feet for $308.7 million during the quarter and disposed of 15
shopping centers totaling 2.1 million square feet for $294.2 million
in its various investment management programs. Excluded from this are
nine properties from KROP acquired by the company's new joint venture
with SEB as discussed below. Fees from Kimco's investment management
business increased to $13.7 million from $12.3 million in the second
quarter 2006, including $8.6 million in management fees, $2.5 million
in acquisition and other transaction-based fees and $2.6 million in
other ongoing fees.

SEB

The company entered into a new joint venture with SEB
Immobilien-Investment GmbH which purchased nine shopping centers on
June 19 for $235 million. The centers, totaling approximately 1.2
million square feet, were purchased from KROP, a joint venture between
Kimco and GE Real Estate. Sales of these assets from KROP generated
promoted income to Kimco of $21.3 million. Kimco has a 15% interest in
the properties and is the property manager. The Kimco/SEB venture will
continue to evaluate retail shopping centers for future acquisitions.

UBS

Kimco and its joint venture partner, UBS Wealth Management,
acquired ten shopping centers for $289.3 million. Six properties,
totaling approximately 428,500 square feet, are located in California
and four, totaling 484,500 square feet, are in Nevada. Major tenants
in the properties include Safeway, Bed, Bath & Beyond, Cost Plus,
Borders, Raley's, Longs Drugs and Starbucks.

Kimco Developers, (KDI)

Kimco Developers Inc. sold Hazel Dell Town Center, a 436,000
square foot shopping center in Vancouver, Wash. for $59.8 million
generating a gain of approximately $8.8 million before tax. KDI also
sold seven out parcels for a total of $16.8 million which reduced its
basis in the associated development projects.

The company acquired three parcels for development for a total of
$31.9 million, including 180 acres for The Grove, a 600,000 square
foot shopping center in Hoover, Ala., which will be anchored by
Target, Lowe's, Kohl's and Best Buy.

Kimco Capital Services

Preferred Equity Investments

Kimco currently has approximately $415 million invested in 246
properties in its preferred equity program, 153 properties in the U.S.
and 93 properties in Canada.

Kimco recognized a total of $24.6 million of income, net of tax,
from preferred equity investments, including US $15.0 million from the
sale of 11 Apple Self Storage properties in Canada. The company
received $7.0 million from the sale of Hillside in Texas including
profit participation of $2.2 million and $4.2 million related to the
refinancing of Wellington Market in Florida, including the return of
the company's $2.0 million investment as well as residual
participation of $2.2 million.

The company acquired nine new preferred equity investments in the
U.S. totaling $58.2 million during the quarter. The largest is a $31.5
million investment in Lake Grove Shopping Center, a 160,000 square
foot shopping center in Lake Grove, N.Y. anchored by JC Penney and
Home Depot.

Subsequent to the quarter end, Kimco invested US $5.4 million in a
retail development project located in Milton, Ontario.

Retailer Services & Kimco Select (KSI)

Retailer Services, Kimco's business which provides capital to
retailers and other enterprises with significant real estate holdings
and Kimco Select, which invests opportunistically with select
operating partners, recognized income of $43.1 million during the
quarter. Income from Retailer Services included $3.7 million resulting
from the re-characterization of previously received distributions as
income in connection with Albertson's final purchase price allocation.
Additionally, Retailer Services realized $1.3 million in gains from
the sale of properties in FNC Realty.

Kimco Select recognized approximately $15.3 million in profit
participation from the sale of its interest in 625 Broadway, a
mixed-use building located in New York City. KSI also realized income
of $8.1 million from a distribution of 50,000 shares of Sears stock.

Portfolio Overview

As of June 30, 2007, Kimco owned equity interests in 1,519
properties in the United States, Puerto Rico, Canada, Mexico and Chile
totaling 180 million square feet as follows: 409 consolidated shopping
centers, 474 joint venture shopping centers, 19 retail stores leases
and 57 development properties that together total 959 centers and 147
million square feet. Also included in the 1,519 total are 246
preferred equity investments and 314 other real estate related
investments all of which aggregate approximately 33 million square
feet.

The company continues to expand internationally. At June 30, the
company had interests in 139 properties totaling 17.1 million square
feet in Canada comprised of 38 shopping centers, 93 preferred equity
investments and 8 other real estate related investments. In Mexico,
the company owned interests in 114 properties totaling 17.5 million
square feet comprised of 32 shopping centers, 18 properties under
development and 64 other real estate investments. The company also has
investments in four shopping centers in Chile.

2007 Guidance

-- FFO: $2.54 - $2.59 per diluted share;

-- Growth in same-store net operating income of approximately 4.0
percent;

-- Gross property, asset management and other ongoing fees of $38
- $40 million;

-- Total acquisitions for the remainder of the year including
investment management programs of $500 million; approximately
$100 million of dispositions for the remainder of the year;

-- Total gains on sales, net of tax, from KDI of approximately
$20 million; and

-- Aggregate contribution, net of tax, from Kimco Preferred
Equity, Retailer Services and Kimco Select of approximately
$60 - 65 million for the remainder of the year.

Conference Call and Supplemental Materials

The company will hold its quarterly conference call today, Friday,
July 27 at 10:00 a.m. Eastern Time. The call will include a review of
the company's second quarter 2007 performance as well as a discussion
of the company's strategy and expectations for the future.

To participate, dial 1-800-289-0572. A replay will be available
for one week by dialing 1-888-203-1112; the Conference ID will be
1936114. Access to the live call and a replay will be available
through the company's website at www.kimcorealty.com under "Investor
Relations: Presentations."

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT),
owns and operates the nation's largest portfolio of neighborhood and
community shopping centers. As of June 30, 2007, the company owned
interests in 1,519 properties comprising 180 million square feet of
leaseable space across 45 states, Puerto Rico, Canada, Mexico and
Chile. Publicly traded on the NYSE under the symbol KIM and included
in the S&P 500 Index, the company has specialized in shopping center
acquisitions, development and management for more than 45 years. For
further information, visit the company's web site at
www.kimcorealty.com.

Safe Harbor Statement

The statements in this release state the company's and
management's hopes, intentions, beliefs, expectations or projections
of the future and are forward-looking statements. It is important to
note that the company's actual results could differ materially from
those projected in such forward-looking statements. Factors that could
cause actual results to differ materially from current expectations
include, but are not limited to, (i) general economic conditions, (ii)
the inability of major tenants to continue paying their rent
obligations due to bankruptcy, insolvency or general downturn in their
business, (iii) local real estate conditions, (iv) increases in
interest rates, (v) increases in operating costs and real estate
taxes. Additional information concerning factors that could cause
actual results to differ materially from those forward-looking
statements is contained from time to time in the company's SEC
filings, including but not limited to the company's report on Form
10-K for the year ended December 31, 2006. Copies of each filing may
be obtained from the company or the Securities & Exchange Commission.

The company refers you to the documents filed by the company from
time to time with the Securities and Exchange Commission, specifically
the section titled "Risk Factors" in the company's Annual Report on
Form 10-K for the year ended December 31, 2006, as may be updated or
supplemented in the company's Form 10-Q filings, which discuss these
and other factors that could adversely affect the company's results.


KIMCO REALTY CORPORATION
Condensed Consolidated Statements of Income
(in thousands, except per share data)
(unaudited)


Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
----------- ----------- ----------- -----------


Revenues from Rental
Properties $170,785 $145,986 $328,879 $282,902
----------- ----------- ----------- -----------

Rental Property
Expenses:
Rent 3,097 2,881 5,981 5,730
Real Estate Taxes 19,952 19,151 38,606 36,074
Operating and
Maintenance 22,579 17,134 43,486 34,223
----------- ----------- ----------- -----------
45,628 39,166 88,073 76,027
----------- ----------- ----------- -----------

Net Operating Income 125,157 106,820 240,806 206,875

Income from Other Real
Estate Investments 32,450 15,430 46,969 33,747
Mortgage Financing
Income 4,586 8,716 7,724 12,910
Management and Other
Fee Income 13,740 12,340 30,786 19,735
Depreciation and
Amortization (46,910) (34,289) (88,596) (62,397)
----------- ----------- ----------- -----------
129,023 109,017 237,689 210,870

Interest, Dividends and
Other Investment
Income 8,315 12,054 14,558 24,344
Other (Expense)/Income,
Net (865) (3,134) (4,572) 8,305

Interest Expense (52,672) (41,374) (98,930) (80,928)
General and
Administrative
Expenses (24,810) (16,564) (47,508) (33,295)
----------- ----------- ----------- -----------
58,991 59,999 101,237 129,296

Benefit for Income
Taxes 2,974 3,257 33,088 1,680

Equity in Income of
Joint Ventures, Net 42,215 26,761 72,375 43,512
Minority Interests in
Income, Net (9,681) (8,015) (13,815) (13,757)
Gain on Sale of
Development
Properties Net of
Tax of $3,533,
$4,423, $5,134 &
$5,632, respectively 5,300 6,635 7,703 8,447
----------- ----------- ----------- -----------

Income from
Continuing
Operations 99,799 88,637 200,588 169,178
----------- ----------- ----------- -----------

Discontinued
Operations:
Income from
Discontinued
Operating Properties 22,736 2,598 30,722 6,699
Minority Interest in
Income (5,403) (1,501) (5,559) (1,574)
Loss on Operating
Properties Held for
Sale/Sold (1,832) (813) (1,832) (813)
Gain on Disposition
of Operating
Properties, Net of
Tax 2,476 18,429 5,271 30,055
----------- ----------- ----------- -----------
Income from
Discontinued
Operations 17,977 18,713 28,602 34,367
----------- ----------- ----------- -----------

Gain On Transfer Of
Operating Properties
(1) - 1,394 - 1,394
Gain On Sale Of
Operating Properties,
Net of Tax (1) 1,606 - 2,332 -
----------- ----------- ----------- -----------
1,606 1,394 2,332 1,394
----------- ----------- ----------- -----------

Income before
Extraordinary Item 119,382 108,744 231,522 204,939

Extraordinary Gain from
Joint Venture
Investment Resulting
from Purchase Price
Allocation, Net of
Income Tax of $6,277,
$0, $36,277 & $0 and
Minority Interest 8,640 - 50,265 -

----------- ----------- ----------- -----------
Net Income 128,022 108,744 281,787 204,939

Preferred Dividends (2,909) (2,909) (5,819) (5,819)
----------- ----------- ----------- -----------

Net Income Available
to Common
Shareholders $125,113 $105,835 $275,968 $199,120
=========== =========== =========== ===========

Weighted Average Shares
Outstanding for Net
Income Calcs:
Basic 252,074 240,554 251,721 234,647
=========== =========== =========== ===========
Units - 633 - 554
Dilutive Effect of
Options 5,324 4,861 5,701 4,864
------- ------- ------- -------
Diluted 257,398 246,048 257,422 240,065
=========== =========== =========== ===========


Per Common Share:
Income from
Continuing
Operations:
Basic $ 0.39 $ 0.36 $ 0.78 $ 0.70
=========== =========== =========== ===========
Diluted $ 0.38(2) $ 0.35(3) $ 0.77(2) $ 0.69(3)
=========== =========== =========== ===========
Net Income:
Basic $ 0.50 $ 0.44 $ 1.10 $ 0.85
=========== =========== =========== ===========
Diluted $ 0.49(2) $ 0.43(3) $ 1.07(2) $ 0.83(3)
=========== =========== =========== ===========


Reclassifications: Certain amounts in the prior period have been
reclassified in order to conform with the current period's
presentation.

(1)Included in the calculation of income from continuing operations
per common share in accordance with SEC guidelines.

(2)Reflects the potential impact if certain units were converted to
common stock at the beginning of the period. The impact of the
conversion would have an anti-dilutive effect on net income and
therefore have not been included.

(3)Reflects the potential impact if certain units were converted to
common stock at the beginning of the period. Net income would be
increased by $209 for the three months ended June 30, 2006 and $363
for the six months ended June 30, 2006.


KIMCO REALTY CORPORATION
Funds From Operations
(in thousands, except per share data)
(unaudited)

Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
--------- --------- --------- ---------

Funds From Operations

Net Income $128,022 $108,744 $281,787 $204,939

Gain on
Disposition of
Operating Prop.,
Net of Minority
Interests (2,476) (18,163) (5,270) (29,789)

Gain on
Disposition of
Joint Venture
Operating
Properties (9,624) (6,589) (21,796) (8,321)

Depreciation and
Amortization 46,109 35,617 88,251 65,294

Depr. and Amort. -
Real Estate JV's,
Net of Minority
Interests 25,055 16,610 49,808 31,619

Preferred Stock
Dividends (2,909) (2,909) (5,819) (5,819)
--------- --------- --------- ---------

Funds From
Operations $184,177 $133,310 $386,961 $257,923
========= ========= ========= =========

Weighted Average
Shares Outstanding
for FFO
Calculations:
- -Basic 252,074 240,554 251,721 234,647
--------- --------- --------- ---------
Units 5,688 5,802 5,766 5,321
Dilutive Effect of
Options 5,324 4,861 5,701 4,864
--------- --------- --------- ---------
- -Diluted 263,086 (1) 251,217 (1) 263,188 244,832 (1)
========= ========= ========= =========

Per Common Share -
Basic $ 0.73 $ 0.55 $ 1.54 $ 1.10
========= ========= ========= =========

- -Diluted $ 0.71 (1)$ 0.54 (1)$ 1.49 (1)$ 1.07 (1)
========= ========= ========= =========

(1)Reflects the potential impact if certain units were converted to
common stock at the beginning of the period. Funds From Operations
would be increased by $2,388 and $2,103 for the three months ended
June 30, 2007 and 2006, respectively and $4,799 and $3,842 for the
six months ended June 30, 2007 and 2006, respectively.


KIMCO REALTY CORPORATION
Condensed Consolidated Balance Sheets
(in thousands, except share information)
(unaudited)

June 30, December 31,
2007 2006
---------- -------------
Assets:
Operating Real Estate, Net of Accumulated
Depreciation of $883,094 and $806,670,
respectively $4,831,752 $ 4,156,667
Investments and Advances in Real Estate
Joint Ventures 1,273,382 1,067,918
Real Estate Under Development 1,115,980 1,037,982
Other Real Estate Investments 461,734 451,731
Mortgages and Other Financing Receivables 176,070 162,669
Cash and Cash Equivalents 109,531 345,065
Marketable Securities 228,579 202,659
Accounts and Notes Receivable 90,364 83,418
Other Assets 337,858 361,171
---------- -------------
Total Assets $8,625,250 $ 7,869,280
========== =============

Liabilities:
Notes Payable $3,414,047 $ 2,748,345
Mortgages Payable 563,975 567,917
Construction Loans Payable 213,193 270,981
Dividends Payable 93,697 93,222
Other Liabilities 419,141 396,614
---------- -------------
Total Liabilities 4,704,053 4,077,079
---------- -------------
Minority Interests 421,194 425,242
---------- -------------

Stockholders' Equity:
Preferred Stock , $1.00 par value,
authorized 3,600,000 shares
Class F Preferred Stock, $1.00 par value,
authorized 700,000 shares
Issued and Outstanding 700,000 shares 700 700
Aggregate Liquidation Preference
$175,000
Common Stock, $.01 par value, authorized
750,000,000 shares
Issued 252,735,515 and 251,416,749
shares;
Outstanding 252,188,935 and
250,870,169, respectively. 2,522 2,509
Paid-In Capital 3,211,398 3,178,016
Retained Earnings 234,990 140,509
---------- -------------
3,449,610 3,321,734
Accumulated Other Comprehensive Income 50,393 45,225
---------- -------------
Total Stockholder's Equity 3,500,003 3,366,959
---------- -------------
Total Liabilities and Stockholder's Equity $8,625,250 $ 7,869,280
========== =============


KIMCO REALTY CORPORATION
Reconciliation of Projected Diluted Net Income Per Common Share to
Projected Diluted Funds From Operations Per Common Share
(Unaudited)

Projected Range
Full Year 2007
Low High
------- -------
Projected diluted net income per common share $ 1.68 $ 1.75

Projected depreciation & amortization 0.63 0.65

Projected depreciation & amortization of real estate
joint ventures, net of minority interests 0.33 0.36

Gain on disposition of operating properties (0.02) (0.05)

Gain on disposition of joint venture operating
properties, net of minority interests (0.08) (0.12)
------- -------

Projected FFO per diluted common share $ 2.54 $ 2.59
======= =======

Projections involve numerous assumptions such as rental income
(including assumptions on percentage rent), interest rates, tenant
defaults, occupancy rates, foreign currency exchange rates (such as
the US-Canadian rate), selling prices of properties held for
disposition, expenses (including salaries and employee costs),
insurance costs and numerous other factors. Not all of these factors
are determinable at this time and actual results may vary from the
projected results, and may be above or below the range indicated. The
above range represents management's estimate of results based upon
these assumptions as of the date of this press release.


CONTACT: Kimco Realty Corporation
Barbara M. Pooley, vice president, investor relations
1-866-831-4297