-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KV59GOSuBIfUSAee7LlNr+3Eej+MwDifcpJ/ZnWMYWFsrlq5utvO0VbBR69kZ2TU
 CBghjFzsu/PMBq81J7pnSw==

<SEC-DOCUMENT>0001209191-03-008759.txt : 20030626
<SEC-HEADER>0001209191-03-008759.hdr.sgml : 20030626
<ACCEPTANCE-DATETIME>20030626112906
ACCESSION NUMBER:		0001209191-03-008759
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030619
FILED AS OF DATE:		20030626

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DEVELOPERS DIVERSIFIED REALTY CORP
		CENTRAL INDEX KEY:			0000894315
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				341723097
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122
		BUSINESS PHONE:		2167555500

	MAIL ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WOLSTEIN SCOTT A
		CENTRAL INDEX KEY:			0001067987

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11690
		FILM NUMBER:		03757885

	BUSINESS ADDRESS:	
		STREET 1:		DEVELOPERS DIVERSIFIED REALTY CORP
		STREET 2:		34555 CHAGRIN BLVD
		CITY:			MORELAND HILLS
		STATE:			OH
		ZIP:			44022
		BUSINESS PHONE:		4402474700

	MAIL ADDRESS:	
		STREET 1:		DEVELOPERS DIVERSIFIED REALTY CORP
		STREET 2:		34555 CHAGRIN BLVD
		CITY:			MORELAND HILLS
		STATE:			OH
		ZIP:			44022
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bcl01690_bcl1saw.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
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<underlyingSecurityShares><value>132697</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeSecurity><derivativeSecurity><securityTitle><value>Stock Options (right to buy)</value></securityTitle><conversionOrExercisePrice><value>13.333</value></conversionOrExercisePrice><transactionDate><value>2003-06-20</value></transactionDate><deemedExecutionDate><value>2003-06-20</value></deemedExecutionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionTimeliness><value>E</value></transactionTimeliness><transactionAmounts><transactionShares><value>132697</value></transactionShares><transactionValue><value>0</value></transacti
onValue><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2002-02-27</value></exerciseDate><expirationDate><value>2011-02-27</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Shares</value></underlyingSecurityTitle><underlyingSecurityShares><value>132697</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>132697</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>Family Limited Partnership</value></natureOfOwnership></ownershipNature></derivativeSecurity><footnotes><footnote id="F1">Transfer of shares and stock options to a family limited partnership of which a trust for the benefit of reporting person's wife and children is the sole general partner and the trust and his wife are the sole limited partners.  The
 reporting person disclaims beneficial ownership except to the extent of his economic interest.</footnote></footnotes><ownerSignature><signatureName> /s/ Scott A. Wolstein</signatureName><signatureDate>2003-06-25</signatureDate></ownerSignature></ownershipDocument>

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</DOCUMENT>
</SEC-DOCUMENT>
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