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

    NEW HYDE PARK, NY, July 17 /CNW Telbec/ - Kimco Realty Corporation
announced today that its subsidiary, Kimco Realty Services, Inc. ("KRS")
purchased 1,000,000 common shares of Plazacorp Retail Properties Ltd.
("Plazacorp"), representing approximately 2.14% of the outstanding common
shares of Plazacorp. Kimco Realty Corporation and KRS now own, in the
aggregate, 6,680,032 common shares, representing approximately 14.28% 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 March 31, 2008, the company owned interests in 1,948 properties
comprising 180 million square feet of leasable 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 50 years. For further
information, visit the company's web site at

    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, 2007. Copies of each
filing may be obtained from the company or the Securities & Exchange
    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, 2007, 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.

For further information:

For further information: Barbara Pooley, Vice President, Finance and
Investor Relations, Kimco Realty Corporation, 1-866-831-4297; Source: Kimco
Realty Corporation

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