EXHIBIT 99.1

Exhibit 99.1

Kimco Realty Corporation Reports Third Quarter Earnings

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Oct. 26, 2007--Kimco Realty
Corporation (NYSE: KIM) reported results for the quarter ending September 30,
2007.

Net income available to common shareholders was $75.1 million for the third
quarter of 2007 or $0.29 per diluted share compared to $88.5 million or $0.36
per diluted share for the third quarter of 2006. Year-to-date, net income per
diluted share was up 15.1 percent to $1.37 from $1.19 per diluted share for the
same period in 2006.

Funds from operations (FFO), a widely accepted supplemental measure of REIT
performance, was $146.6 million for the third quarter 2007, an increase of 5.8
percent from $138.6 million in the same period a year ago. Funds from operations
per diluted share were up 1.8 percent to $0.57 for the third quarter of 2007
from $0.56 in the third quarter of 2006. Year-to date, FFO per diluted share
grew 26.4 percent to $2.06 from $1.63 for the same period in 2006. A
reconciliation of net income to FFO is provided in the attached tables.

Highlights for the third quarter 2007:

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

-- Posted a record high occupancy of 96.2 percent in the entire shopping
center portfolio at the end of the third quarter, a 30 basis point
increase sequentially and a 90 basis point increase from the same
period a year ago;

-- Grew year-to-date FFO per diluted share by 26.4 percent over the same
period in 2006;

-- Recognized $6.0 million of promoted income upon the sale of two assets
from Kimco Retail Opportunity Portfolio (KROP) and other distributions
from KROP during the quarter;

-- Recognized $6.2 million, net of tax, from its investment in
Albertson's;

-- Issued $460 million of cumulative redeemable preferred stock at a
yield of 7.75 percent; and

-- Replaced the company's $850 million revolving credit facility with a
new $1.5 billion, 4 year revolving credit facility, maturing October,
2011, at an interest rate reduction of 7.5 basis points.

Capital Structure

Subsequent to the quarter close, Kimco completed two strategic moves as
part of its overall capital plan. With the goal of maximizing liquidity, the
company completed a $460 million offering of 18,400,000 depositary shares, each
representing a 1/100 fractional interest in a share of the company's 7.75% Class
G Cumulative Redeemable Preferred Stock, $1.00 par value per share. These
depositary shares, priced at $25.00, entitle holders to a 7.75% cumulative
dividend or $1.9375 per annum, are not convertible into common stock and are
redeemable at par at the option of the company on and after October 10, 2012.

In addition, the company expanded its U.S. line of credit to $1.5 billion
from $850 million with an interest rate reduction of 7.5 basis points. These two
transactions position the company well for future strategic acquisitions or
initiatives.

Portfolio Activity

Kimco's shopping center portfolio includes 948 properties: 852 in the
United States and Puerto Rico, 39 in Canada, 53 in Mexico and four in Chile.
Same-store growth in net operating income was 4.2 percent for the quarter.
Same-store growth has averaged 4.6 percent over the past eight quarters.

During the quarter, the company celebrated the grand opening of the
District at Tustin Legacy, a one million square foot lifestyle center being
developed in partnership with Vestar Development Company in Tustin, Calif. The
company has more than 55 active development and redevelopment projects for its
own portfolio as well as approximately 30 merchant development projects. Total
net cost for these projects is estimated at more than $2.0 billion at
completion.

Approximately 20 of the 55 projects for Kimco's own portfolio are located
in Mexico. Mexico has historically been underserved by retail operators with
only approximately 800 shopping centers compared to 48,000 in the U.S. As income
levels rise, home financing becomes available and demographics in Mexico shift
more toward urban areas, formal retail venues are increasingly in demand. Kimco
is currently the largest owner of retail centers in Mexico and expects to
continue investing vigorously in the country.

Kimco continues to pursue innovative strategies to create shareholder
value. The company is pursuing several new commingled funds which it expects to
unveil in 2008. A U.S. Land Fund similar to the Mexico Land Fund will be
introduced and used to purchase and hold land for future development in Arizona,
California, Texas and Florida. An Urban Redevelopment Fund will target in-fill
redevelopment opportunities in the New York City metro area. Finally, as Kimco
expands geographically into South America, the company will partner with
investors to own retail properties in countries such as Brazil, Chile and Peru.

Shopping Center Portfolio

For the quarter, the company signed a total of 430 leases totaling
1,151,000 square feet in its shopping center holdings: 227 new leases for
526,000 square feet and 203 lease renewals for 625,000 square feet. In the U.S.
portfolio, Kimco signed 165 new leases for 483,000 square feet and 138 lease
renewals for 491,000 square feet. On new leases signed for the same space in
U.S., the average increase in contractual base rent was approximately 17.1
percent on a cash basis for the quarter.

During the quarter the company acquired 15 properties. Acquisitions include
the Birchwood portfolio with seven retail properties totaling 240,000 square
feet on Long Island, N.Y., two power centers, one in Charlotte, N.C. and one in
Corona Hills, Calif. and one shopping center in Mexico City, Mexico. The company
also acquired one additional property in a joint venture during the quarter,
which is leased to an auto dealership in Windsor, Canada.

Kimco continues to expand its relationship with GE Real Estate in Mexico.
During the quarter, Kimco sold a 50 percent interest in two development
properties into its Mexican joint venture with GE Real Estate for US $17.2
million. Ciudad del Carmen, a 427,000 square foot shopping center located on
Mexico's gulf coast just west of the Yucatan Peninsula, will be anchored by Home
Depot, Chedraui grocery store, and a theater. Plaza Rosarito is a 600,000 square
foot shopping center anchored by Wal-Mart, Home Depot and Cinepolis and is
located on Mexico's pacific coast, south of Tijuana. This brings the total
number of properties in the joint venture with GE Real Estate to 14 properties
totaling approximately 5.0 million square feet.

In August, the company purchased land for approximately US $16.9 million
for a 455,000 square foot retail development located in Tijuana, Mexico. The
center, which will be anchored by Wal-Mart and Cinepolis, is expected to open in
the fourth quarter of 2008 and will cost approximately $34 million.

The Mexico Land and Development Fund, a joint venture managed by Kimco,
added a second site to its portfolio during the quarter with the acquisition of
a 22 acre land parcel in Apodaca, Mexico just outside Monterrey for
approximately US $5.3 million. Two new sites, located in Monterrey and Torreon,
were also approved. The land will be held for future development or sale.

The company also acquired eight new industrial properties in Mexico with
its joint venture partner American Industries totaling approximately 202,000
square feet. The properties, located in various cities in Mexico, were purchased
for US $17.4 million.

Kimco Investment Management Programs

Fees from Kimco's investment management business increased to $12.7 million
in the third quarter of 2007 from $9.8 million in the third quarter 2006,
including $10.3 million in management fees, $1.9 million in disposition and
other transaction-based fees and $0.5 million in other ongoing fees and
excluding promoted income.

Kimco Developers (KDI)

Kimco Developers, Inc. sold Phase II of Gateway Station Plaza, an 80,000
square foot shopping center in Burleson, Texas for $18.6 million. KDI also sold
Gilbert Esplanade, 68 acres of undeveloped land located in Arizona which was
previously held for development, for $37.8 million.

Kimco Capital Services

Preferred Equity Investments

Kimco currently has approximately $465 million invested in 261 properties
in its preferred equity program, 160 properties in the U.S. and 101 properties
in Canada. During the quarter, the company recognized a total of $11.4 million
of income, net of tax, from preferred equity investments including $1.1 million
in residual profit participation.

The company acquired eight new preferred equity investments in the U.S.
totaling $17.7 million during the quarter and eight in Canada for US $19.4
million.

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
$31 million during the quarter. Income from Retailer Services included
approximately $3.0 million in recurring income as well as $6.2 million resulting
from the company's investment in Albertsons.

Kimco Select realized approximately $22 million during the quarter
including a total of $10 million in recurring income. Recurring income included
$5.8 million from a partial quarter from its investment in InTown Suites and the
portfolio of net leased properties. KSI also realized $10.6 million in gains
from the sale of marketable securities.

Portfolio Overview

As of September 2007, Kimco owned equity interests in 1,959 properties in
the United States, Puerto Rico, Canada, Mexico and Chile totaling 183 million
square feet as follows: 409 consolidated shopping centers, 354 shopping centers
in investment management programs and 126 other joint venture shopping centers,
59 development properties that together total 948 centers and 145 million square
feet. Also included in the 1,959 total are 261 preferred equity investments and
750 other real estate related investments all of which aggregate approximately
38 million square feet.

The company continues to expand internationally. At September 30, the
company had interests in 148 properties totaling 17.8 million square feet in
Canada comprised of 39 shopping centers, 101 preferred equity investments and 8
other real estate related investments. In Mexico, the company owned interests in
127 properties totaling 18.8 million square feet comprised of 33 shopping
centers, 20 properties under development and 74 other real estate investments.
The company also has investments in four shopping centers in Chile.

2007 Guidance

-- FFO: $2.56 - $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 $40 - $42
million;

-- Total gains on sales, net of tax, from KDI of approximately $25
million;

-- Total acquisitions and dispositions, including investment management
programs, are expected to be approximately $100 million and $200
million, respectively for the remainder of the year; and

-- Aggregate contribution, net of tax, from Kimco Preferred Equity,
Retailer Services and Kimco Select of approximately $30 - $35 million
for the remainder of the year.

Preliminary 2008 Guidance

-- FFO: $2.70 - $2.78 per diluted share;

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

Conference Call and Supplemental Materials

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

To participate, dial 1-800-811-8824. A replay will be available for one
week by dialing 1-888-203-1112; the Conference ID will be 7942810. 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 September 30, 2007, the company owned interests in 1,959
properties comprising 183 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, and (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 Nine Months Ended
September 30, September 30,
2007 2006 2007 2006
--------- ---------- ---------- ----------


Revenues from
Rental Properties $173,712 $ 149,124 $ 501,827 $ 431,868
--------- ---------- ---------- ----------

Rental Property
Expenses:
Rent 3,029 2,914 9,011 8,643
Real Estate
Taxes 21,026 19,289 59,500 55,347
Operating and
Maintenance 21,752 18,077 65,184 52,274
--------- ---------- ---------- ----------
45,807 40,280 133,695 116,264
--------- ---------- ---------- ----------

Net Operating
Income 127,905 108,844 368,132 315,604

Income from Other
Real Estate
Investments 19,846 27,192 66,815 60,939
Mortgage Financing
Income 4,084 2,847 11,809 15,758
Management and
Other Fee Income 12,700 9,819 43,486 29,554
Depreciation and
Amortization (48,131) (35,666) (136,265) (98,021)
--------- ---------- ---------- ----------
116,404 113,036 353,977 323,834

Interest,
Dividends and
Other Investment
Income 16,083 14,109 30,641 38,453
Other
(Expense)/Income,
Net (1,306) (159) (5,954) 8,046

Interest Expense (58,978) (44,863) (157,817) (125,690)
General and
Administrative
Expenses (29,552) (22,618) (77,042) (55,899)
--------- ---------- ---------- ----------

42,651 59,505 143,805 188,744

(Provision) /
Benefit for
Income Taxes (348) (2,454) 32,740 (775)

Equity in Income
of Joint
Ventures, Net 39,310 29,286 111,685 72,798
Minority Interests
in Income, Net (10,625) (5,722) (24,441) (19,479)
Gain on Sale of
Development
Properties
Net of Tax of
$3,352,
$4,262,
$8,487, and
$9,893
respectively 5,028 6,394 12,731 14,840
--------- ---------- ---------- ----------

Income from
Continuing
Operations 76,016 87,009 276,520 256,128
--------- ---------- ---------- ----------

Discontinued
Operations:
Income from
Discontinued
Operating
Properties 1,558 3,172 32,363 9,924
Minority
Interest in
Income (212) (30) (5,771) (1,604)
Loss on
Operating
Properties
Held for
Sale/Sold - - (1,832) (813)
Gain on
Disposition of
Operating
Properties,
Net of Tax 267 1,276 5,538 31,331
--------- ---------- ---------- ----------
Income from
Discontinued
Operations 1,613 4,418 30,298 38,838
--------- ---------- ---------- ----------

Gain On Transfer
Of Operating
Properties (1) - - - 1,394
Gain On Sale Of
Operating
Properties, Net
Of Tax (1) 376 - 2,708 -
--------- ---------- ---------- ----------
376 - 2,708 1,394
--------- ---------- ---------- ----------

Income before
Extraordinary
Item 78,005 91,427 309,526 296,360

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

--------- ---------- ---------- ----------
Net Income 78,005 91,427 359,791 296,360

Preferred
Dividends (2,909) (2,909) (8,728) (8,728)
--------- ---------- ---------- ----------

Net Income
Available to
Common
Shareholders $ 75,096 $ 88,518 $ 351,063 $ 287,632
========= ========== ========== ==========

Weighted Average
Shares
Outstanding for
Net Income Calcs:
Basic 252,327 241,002 251,925 236,789
========= ========== ========== ==========
Units - - - 302
Dilutive
Effect of
Options 4,170 5,144 5,165 4,869
--------- ---------- ---------- ---------
Diluted 256,497 246,146 257,090 241,960
========= ========== ========== ==========


Per Common Share:
Income from
Continuing
Operations:
Basic $ 0.29 $ 0.35 $ 1.07 $ 1.05
========= ========== ========== ==========
Diluted $ 0.29 (2)$ 0.34 (2)$ 1.05 (2)$ 1.03 (3)
========= ========== ========== ==========
Net Income:
Basic $ 0.30 $ 0.37 $ 1.39 $ 1.21
========= ========== ========== ==========
Diluted $ 0.29 (2)$ 0.36 (2)$ 1.37 (2)$ 1.19 (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 $310 for the nine months ended September 30, 2006.


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

Three Months Ended Nine Months Ended
September 30, September 30,
2007 2006 2007 2006
-------- -------- --------- ---------


Funds From
Operations

Net Income $ 78,005 $ 91,427 $ 359,791 $ 296,360

Gain on Disp. of
Operating Prop.,
Net of Minority
Interests (643) (1,283) (5,914) (31,072)

Gain on
Disposition of
Joint Venture
Operating
Properties (4,341) (4,120) (26,138) (12,442)

Depreciation and
Amortization 48,164 36,934 136,417 102,228

Depr. and Amort,
- Real Estate
JV's, Net of
Minority
Interests 28,366 18,550 78,174 50,168

Preferred Stock
Dividends (2,909) (2,909) (8,728) (8,728)
-------- -------- --------- ---------

Funds From
Operations $146,642 $138,599 $ 533,602 $ 396,514
======== ======== ========= =========

Weighted Average
Shares Outstanding
for FFO
Calculations:
- -Basic 252,327 241,002 251,925 236,789
-------- -------- --------- ---------
Units 5,851 6,476 5,766 5,888
Dilutive Effect
of Options 4,170 5,144 5,165 4,869
-------- -------- --------- ---------
- -Diluted 262,348(1) 252,622(1) 262,856(1) 247,546(1)
======== ======== ========= =========


Per Common Share
- - Basic $ 0.58 $ 0.58 $ 2.12 $ 1.67
======== ======== ========= =========

- - Diluted $ 0.57(1) $ 0.56(1) $ 2.06(1) $ 1.63(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 $2,635 and $2,544 for the three months ended
September 30, 2007 and 2006, respectively and $7,434 and $6,733 for
the nine months ended September 30, 2007 and 2006, respectively.

Pursuant to the definition of Funds from Operations ("FFO") adopted by
the Board of Governors of the National Association of Real Estate
Investment Trusts ("NAREIT"), FFO is calculated by adjusting net
income (loss) (computed in accordance with GAAP), excluding gains
from sales of depreciated property, plus depreciation and
amortization, and after adjustments for unconsolidated partnerships
and joint ventures. Adjustments for unconsolidated partnerships and
joint ventures are calculated to reflect FFO on the same basis.

Given the nature of the Company's business as a real estate owner and
operator, the Company believes that FFO is helpful to investors as a
measure of its operational performance and FFO is a widely recognized
measure in the Company's industry. FFO does not represent cash
generated from operating activities determined in accordance with
GAAP, and should not be considered as an alternative to net cash
flows from operating activities (determined in accordance with GAAP),
as a measure of our liquidity, or as an indicator of our ability to
make cash distributions. In addition, the comparability of the
Company's FFO with the FFO reported by other REITs may be affected by
the differences that exist regarding certain accounting policies
relating to expenditures for repairs and other recurring items.


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

September 30, December 31,
2007 2006
------------- ------------
Assets:

Operating Real Estate, Net of
Accumulated Depreciation of $927,402,
and $806,670, respectively $ 5,022,221 $ 4,156,667
Investments and Advances in Real Estate
Joint Ventures 1,310,014 1,067,918
Real Estate Under Development 1,132,834 1,037,982
Other Real Estate Investments 596,504 451,731
Mortgages and Other Financing
Receivables 171,813 162,669
Cash and Cash Equivalents 45,439 345,065
Marketable Securities 213,385 202,659
Accounts and Notes Receivable 84,274 83,418
Other Assets 321,894 361,171
------------- ------------
Total Assets $ 8,898,378 $ 7,869,280
============= ============


Liabilities:
Notes Payable $ 3,618,192 $ 2,748,345
Mortgages Payable 556,085 567,917
Construction Loans Payable 242,197 270,981
Dividends Payable 103,976 93,222
Other Liabilities 455,611 396,614
------------- ------------
Total Liabilities 4,976,061 4,077,079
------------- ------------
Minority Interests 437,060 425,242
------------- ------------


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, and 300,000,000 shares-
Issued 253,213,968, and 251,416,749,
Outstanding 252,667,388, and
250,870,169, respectively. 2,527 2,509
Paid-In Capital 3,227,560 3,178,016
Retained Earnings 209,018 140,509
------------- ------------
3,439,805 3,321,734
Accumulated Other Comprehensive Income 45,452 45,225
------------- ------------
Total Stockholders' Equity 3,485,257 3,366,959
------------- ------------
Total Liabilities and Stockholders' Equity $ 8,898,378 $ 7,869,280
============= ============


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 $ 1.58 $ 1.62

Projected depreciation & amortization 0.70 0.71
Projected depreciation & amortization real estate
joint ventures, net of minority interests 0.40 0.42

Gain on disposition of operating properties (0.02) (0.04)
Gain on disposition of joint venture operating
properties, net of minority interests (0.10) (0.12)
------- -------

Projected FFO per diluted common share $ 2.56 $ 2.59
======= =======

Projected Range
Full Year 2008
Low High
------- -------
Projected diluted net income per common share $ 1.61 $ 1.71

Projected depreciation & amortization 0.73 0.75
Projected depreciation & amortization real estate
joint ventures, net of minority interests 0.44 0.48

Gain on disposition of operating properties (0.04) (0.08)
Gain on disposition of joint venture operating
properties, net of minority interests (0.04) (0.08)
------- -------

Projected FFO per diluted common share $ 2.70 $ 2.78
======= =======

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