Price Legacy Corporation Completes Merger with and into Price Legacy Holdings, LLC

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)-- Price Legacy Corporation (OTC: PLREP) announced that it has completed a merger transaction pursuant to which the company merged with and into Price Legacy Holdings, LLC. As a result of the merger, all of the outstanding shares of 6.82% Series 1 Cumulative Redeemable Preferred Stock were cancelled in exchange for cash of $17.25 per share, an aggregate of approximately $50.8 million. This amount reflects the liquidation preference of such shares, together with accrued interest through the effective date of the merger, which was April 20, 2010. Holders of the 6.82% Series 1 Cumulative Redeemable Preferred Stock should contact the transfer agent for those shares, BNY Mellon Shareholder Services, at (201) 680-3285 with any questions concerning the procedures for receiving payment. Price Legacy Holdings, LLC is a wholly-owned subsidiary of Kimco Realty Corporation (NYSE: KIM).

About Kimco

Kimco Realty Corporation, a real estate investment trust (REIT), owns and operates North America's largest portfolio of neighborhood and community shopping centers. As of December 31, 2009, the company owned interests in 1,478 retail properties comprising 152 million square feet of leasable space across 45 states, Puerto Rico, Canada, Mexico and South America. 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 50 years. For further information, visit the company's web site at http://www.kimcorealty.com

    Source: Kimco Realty Corporation

Released April 22, 2010