1. KEYS Program

2. North America’s Largest Owner & Operator of Neighborhood & Community Shopping Centers. History Started in 1958 | IPO that initiated modern REIT era; NYSE-listed for ~20 years | S&P 500 Index (2006) Dividend$0.76 annually, ~3.9% yield (3/31/12) Shopping Center Properties946 properties; 138.1M / 89.5M sq. ft. (gross/pro-rata) Geographic Footprint44 states, Puerto Rico, Canada, Mexico and South America Occupancy (pro-rata)5-year average: 93.9% | High: 96.3% (12/31/07) / Low: 92.3% (6/30/09) Enterprise Value$13.2B (3/31/12) Credit RatingInvestment Grade  BBB+ | BBB+ | Baa1 (S&P | Fitch | Moody’s) Who is Kimco?

3. Kimco Entrepreneurs Year Start (KEYS) is a business incubator program for qualified startup entrepreneurs. Approved applicants receive: Resources and services O ne year of free rent (must pay NNN expenses only) This incentive accelerates the growth of their new businesses in shopping centers owned by Kimco and its joint venture partners. Kimco Entrepreneurs What is KEYS? Year Start Westlake Shopping Center - Daly City, CA

4. Redhawk Towne Center – Temecula, CA Kimco Entrepreneurs Year Start Qualified KEYS applicants will benefit from: Substantially lower monthly overhead expenses L ease term flexibility A ssistance of a Kimco counselor Counselor will advise and guide potential tenant through the lease, store selection and planning process, if desired. After Tenant’s initial first year lease term, the tenant has choice to exercise a four-year lease option for the existing store. Also, the lease provides for an easy exit with no long term obligation to Kimco if the startup entrepreneur finds the business unworkable. What does KEYS offer?

5. Currently, there are approximately: 100 available stores All under 2,500 square feet in size Located in Kimco’s demographically diversified California portfolio Of the 100 available units, there is a mixture of both retail, service, and former restaurant build-outs. Kimco Entrepreneurs How many spaces are available? Year Start Larwin Square Shopping Center – Tustin, CA

6. KEYS Locations

7. The District at Tustin Legacy – Tustin, CA Kimco Entrepreneurs Year Start KEYS is open to: N ew startup retail ventures S ervice operations R estaurants T he entrepreneur should have the training, skill, enthusiasm, and adequate funding to launch a new business. Franchisees or product license agreement participants may not apply to the program. Who can apply to KEYS?

8. There is NO catch! Kimco benefits by bringing new and exciting tenants to its vacancies, while new entrepreneurs benefit from lower startup costs, favorable lease terms, and the help of a counselor, if desired. Studies found that 87% of ‘incubator graduates’ stayed in business, in contrast to 44% of all firms. Kimco Entrepreneurs What’s the catch? Year Start The District at Tustin Legacy – Tustin, CA

9. Kimco Entrepreneurs Year Start Applicants can submit their business plan online at http://www.KimcoKeys.comhttp://www.KimcoKeys.com How do I get started? Applicants may also apply by calling 1-888-668-1690 A printable application form can be found online by clicking herehere Westlake Shopping Center - Daly City, CA