Kimco Realty Corporation announces purchase of Plazacorp Retail Properties Ltd. Shares

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

Kimco Realty Corporation announced today that its subsidiary, Kimco Realty Services, Inc. ("KRS") purchased 458,600 common shares of Plazacorp Retail Properties Ltd., ("Plazacorp"), representing approximately one percent of the outstanding common shares of Plazacorp. Kimco Realty Corporation and KRS now own, in the aggregate, 4,888,532 shares which represents approximately 10.7 percent of the outstanding common shares of Plazacorp, a publicly traded Canadian company.

The purchase was made for general investment purposes and Kimco Realty Corporation or its affiliates may purchase additional shares or otherwise trade in securities of Plazacorp from time to time depending on market conditions and other considerations.

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.

Source: Kimco Realty Corporation

Released January 8, 2008