Cedar Shopping Centers Amends Terms of Credit Facility (CDR)

Cedar Shopping Centers, Inc. CDR has exercised its right to reduce the total commitment under its secured revolving credit facility for stabilized properties from $285 million to $185 million effective as of September 13, 2010. The reduction will eliminate unused portion fees of 50 basis points under the facility, representing potential cost savings of $500,000 on an annualized basis. Amounts drawn as of this date under the facility have been reduced to a level of approximately $6 million. Based on covenant calculations and accepted collateral in place, total availability under the facility at this time is approximately $167 million, of which approximately $161 million is currently available to the Company.