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 February 15, 2007 to Price Legacy 6.82% Series 1 Cumulative Redeemable Preferred (OTC: PLREP) shareholders of record on February 8, 2007. 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, a publicly traded real estate investment trust, has specialized in shopping center acquisitions, development and management for more than 45 years, and owns and operates the nation's largest portfolio of neighborhood and community shopping centers with interests in 1,337 properties comprising approximately 174.4 million square feet of leasable space located throughout 45 states, Canada, Mexico and Puerto Rico.

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 $8.0 billion in assets. Additional information about DRA can be found on the company's website at www.draadvisors.com.

Source: Kimco Realty Corporation

Released February 1, 2007