2008-04-23 23:45:20 -

www.inlandgroup.com - Recently, Inland Real Estate Corporation issued a press release stating that Daniel L. Goodwin turned over the chairmanship of Inland Real Estate Corporation to Tom D'Arcy who has served as an IRC board member for the past three years and had prior experience as a chief executive officer for various real estate companies, including another

publicly traded retail REIT.

Additionally, it was announced that Robert D. Parks turned over the CEO position to Mark Zalatoris, who had been the chief operating officer of IRC for the last six years and who has been with Inland Real Estate Corporation since its formation in 1994.

Dan Goodwin will remain on the board of directors of IRC so that he can serve as a resource to the company, and he remains the largest individual shareholder of IRC.

It should be noted that Dan Goodwin and Robert Parks have not given up any of their positions at various other Inland entities. Dan Goodwin will continue serving as chairman and CEO of The Inland Real Estate Group, Inc., chairman and CEO of the Inland Real Estate Group of Companies, Inc., chairman and CEO of Inland Bancorp, Inc., and chairman and CEO of Inland Mortgage Corporation.

Robert Parks continues to be a principal shareholder in Inland Real Estate Corporation and will remain as chairman of Inland Western Retail Real Estate Trust, Inc., chairman of Inland American Real Estate Trust, Inc., and chairman and CEO of Inland Real Estate Investment Corporation.

The recent moves at IRC were proposed by Dan Goodwin in order to further demonstrate that Inland Real Estate Corporation's board of directors was governing IRC independently while utilizing the services of Goodwin and Parks as resources. These recent changes in titles and positions better emphasize the nature of the relationship.

About the Inland Real Estate Group of Companies, Inc.

The Inland Real Estate Group of Companies, Inc., headquartered in Oak Brook, Ill., has been ranked collectively as the single fastest-growing acquirer of retail property in the United States (Chain Store Age, May 2007), and the fifth-largest shopping center owner in North America (Shopping Centers Today, December 2006). Inland-sponsored companies own and manage in total over 100 million square feet of commercial real estate located in 44 states in the U.S. and Canada, as well as managed assets in excess of $21 billion. The Inland Real Estate Group of Companies, Inc. is comprised of a group of separate legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by subsidiaries of Inland Real Estate Investment Corporation. For additional information, please refer to the company website at www.inlandgroup.com.

Inland Communications, Inc.
Lindsey Ignace, (630) 218-8000 Ext. 2887
ignace@inlandgroup.com