Kimco North Trust III Announces Issuance on a Private Placement Basis of $150 Million Canadian Denominated Series 3 Senior Unsecured Notes

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)-- Kimco North Trust III, an indirect wholly-owned entity of Kimco Realty Corporation, today entered into an agreement for the issuance of $150 million Canadian denominated Series 3 unsecured notes to a group of underwriters on a bought-deal private placement basis. The offering is expected to close on or about April 13, 2010. The notes bear interest at 5.99% and mature on April 13, 2018. Kimco Realty Corporation has provided a full and unconditional guarantee of the notes, which were rated BBB+ (stable) and Baal (negative) by Standard & Poor's and Moody's Investors Services, respectively. This represents the third time Kimco has raised debt capital in the Canadian market. The proceeds will be used by Kimco North Trust III to repay its Series 1 unsecured notes maturing on April 21, 2010, which notes were used to fund long-term investments in Canadian real estate, and for general corporate purposes. RBC Capital Markets, Scotia Capital and CIBC World Markets acted as the underwriters for the private placement offering.

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 www.kimcorealty.com.

    Source: Kimco Realty Corporation

Released April 6, 2010