Developers Diversified Realty Corporation (DDR) is a self-administered and self-managed real estate investment trust (REIT). The Company, through its subsidiaries, is in the business of acquiring, developing, redeveloping, owning, leasing and managing shopping centers and, to a lesser extent, business centers. During the year ended December 31, 2008, the Company acquired 11 properties. The Company’s portfolio as of February 13, 2009, consisted of 696 shopping centers and six business centers, including 329 centers owned through unconsolidated joint ventures and 35 centers that are otherwise consolidated by the Company and more than 2,000 acres of undeveloped land (of which approximately 700 acres are owned through unconsolidated joint ventures). The shopping center properties consist of shopping centers, enclosed malls and lifestyle centers. As of February 13, 2009, the Company was expanding three wholly owned properties and three of its unconsolidated joint venture properties.