Price Legacy Corporation declares Series 1 preferred stock dividend

NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--

Price Legacy Corporation announced today that its Board of Directors declared a dividend of 29 cents per share payable on November 17, 2008 to Price Legacy 6.82% Series 1 Cumulative Redeemable Preferred (OTC: PLREP) shareholders of record on November 7, 2008. The Company is a subsidiary of PL Retail LLC, a joint venture between Kimco Realty Corporation (NYSE: KIM) and clients of DRA Advisors LLC.

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, 2008, the company owned interests in 1,928 properties comprising 180 million square feet of leaseable space across 45 states, Puerto Rico, Canada, Mexico, Chile, Brazil and Peru. 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.

About DRA Advisors LLC

DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, foundations, and insurance companies. Founded in 1986, the firm currently manages over $10.7 billion in assets. Additional information about DRA can be found on the company's website at www.draadvisors.com.

Source: Kimco Realty Corporation

Released November 3, 2008