Agree Realty Announces Dividend of $.51

Agree Realty Corporation ADC today announced that its Board of Directors has declared its fourth quarter 2010 dividend for the Company's common stock.

• Fourth quarter 2010 cash dividend of $0.51 per share.

• The declared fourth quarter 2010 dividend when annualized equals $2.04 per share.

• The fourth quarter 2010 common share dividend is payable January 4, 2011 to shareholders of record at the close of business on December 20, 2010.