SITE Centers Corp. — Director's Dealing 2011

May 11, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DEVELOPERS DIVERSIFIED REALTY CORP (DDR)
CIK: 0000894315
Period of Report: 2011-05-09

Reporting Person: Vesy Christa A (Sr. V.P. & Chief Acct. Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-09	Common Shares	M	18384	$6.02	Acquired	84496	Direct
2011-05-09	Common Shares	S	18384	$14.50	Disposed	66112	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-09	Employee Stock Option (right to buy)	$6.02	M	18384	Disposed	2019-01-12	Common Shares (18384)	Direct

Footnotes

F1: The stock options were 100% vested on April 9, 2009.

F2: The amount of derivative securities beneficially owned for this grant was previously reported in the aggregate for all option grants. The amount of derivative securities beneficially owned following the reported transaction represents the amount of derivative securities remaining for this grant.