Exhibit 99.1


          KIMCO REALTY AND KIMCO NORTH TRUST III SUCCESSFULLY COMPLETE
                             CONSENT SOLICITATIONS


NEW HYDE PARK, N.Y., June 5, 2006 - Kimco Realty Corporation (NYSE: KIM) ("Kimco
Realty") today announced that it has received the requisite consents from
holders of the following series of Medium-Term Notes and Senior Notes in the
aggregate principal amount outstanding of $1,922,000,000 (the "Notes") to amend
the indenture governing the Notes (the "Indenture").

         --      6.930% Medium-Term Notes due 2006 (CUSIP No. 49446QAL5);

         --      Floating Rate Medium-Term Notes due 2006 (CUSIP No. 49446QAZ4);

         --      7.460% Medium-Term Notes due 2007 (CUSIP No. 49446QAF8);

         --      6.960% Medium-Term Notes due 2007 (CUSIP No. 49446QAH4);

         --      7.860% Medium-Term Notes due 2007 (CUSIP No. 49446QAT8);

         --      7.900% Medium-Term Notes due 2007 (CUSIP No. 49446QAQ4);

         --      6.700% Medium-Term Notes due 2007 (CUSIP No. 49446QAD3);

         --      3.950% Medium-Term Notes due 2008 (CUSIP No. 49446QAX9);

         --      7.560% Medium-Term Notes due 2009 (CUSIP No. 49446QAG6);

         --      7.060% Medium-Term Notes due 2009 (CUSIP No. 49446QAJ0);

         --      4.620% Medium-Term Notes due 2010 (CUSIP No. 49446QAW1);

         --      5.304% Medium-Term Notes due 2011 (CUSIP No. 49446QBE0);

         --      4.820% Medium-Term Notes due 2011 (CUSIP No. 49446QBA8);

         --      5.980% Medium-Term Notes due 2012 (CUSIP No. 49446QAV3);

         --      5.190% Medium-Term Notes due 2013 (CUSIP No. 49446QAY7);

         --      4.820% Medium-Term Notes due 2014 (CUSIP No. 49446QBC4);

         --      4.904% Medium-Term Notes due 2015 (CUSIP No. 49446QBB6);

         --      5.584% Medium-Term Notes due 2015 (CUSIP No. 49446QBD2);

         --      5.783% Medium-Term Notes due 2016 (CUSIP No. 49446QBF7);


         --      4.961% Senior Notes due 2007 (CUSIP No. 49446RAF6);

         --      6.875% Senior Notes due 2009 (CUSIP No. 49446RAE9); and

         --      6.00% Senior Notes due 2012 (CUSIP No. 49446RAG4).

The consents were obtained pursuant to Kimco Realty's consent solicitation,
which commenced on May 16, 2006, and was amended on May 30, 2006. The consent
solicitation expired at 5:00 p.m., New York City time, on Friday, June 2, 2006.

The supplemental indenture giving effect to the amendments was executed by Kimco
Realty and The Bank of New York, as trustee, and became effective on June 2,
2006. The supplemental indenture amends (i) our total debt test and secured debt
test by changing the asset value definition from Undepreciated Real Estate
Assets to Total Assets, with Total Assets being defined as Undepreciated Real
Estate Assets, plus our other assets (but excluding goodwill and amortized debt
costs) and (ii) our maintenance of Unencumbered Total Asset Value covenant by
increasing the requirement of the ratio of Unencumbered Total Asset Value to
outstanding unsecured Debt from 1 to 1 to 1.5 to 1.

The terms and conditions of the consent solicitation are set forth in the
consent solicitation statement, dated as of May 16, 2006, as supplemented by the
consent solicitation statement supplement, dated as of May 30, 2006.

Concurrently with the completion of the consent solicitation, Kimco North Trust
III ("Kimco North"), a wholly-owned entity of Kimco Realty, today announced that
it has received the requisite consents from holders of the 4.45% Canadian
Debentures due 2010 in the aggregate principal amount outstanding of
C$150,000,000 (the "Canadian Notes"), issued by Kimco North and guaranteed by
Kimco Realty to give effect to the adoption of the same amendments described
above, which would govern the Canadian Notes.

The consents were obtained pursuant to Kimco North's consent solicitation, which
commenced on May 16, 2006, and was amended on May 30, 2006. The Canadian consent
solicitation expired at 5:00 p.m., New York City time, on Friday, June 2, 2006.
The Canadian supplemental indenture giving effect to the amendments was executed
by Kimco North, Kimco Realty and BNY Trust Company of Canada, as trustee, and
became effective on June 2, 2006.

The terms and conditions of the Canadian consent solicitation are set forth in
the Canadian consent solicitation statement, dated as of May 16, 2006, as
supplemented by the Canadian consent solicitation statement supplement, dated as
of May 30, 2006.

UBS Securities LLC acted as the Solicitation Agent and Global Bondholder
Services Corporation acted as the Information and Tabulation Agent in connection
with the consent solicitation.

This announcement is not an offer to purchase, a solicitation of an offer to
purchase, or a solicitation of consents with respect to any securities. The
consent solicitation and the Canadian consent solicitation was made solely by
the consent solicitation statement (as supplemented) and the Canadian consent
solicitation statement (as supplemented), respectively, and was subject to the
terms and conditions stated therein.



Kimco, a publicly traded real estate investment trust, has specialized in
shopping center acquisitions, development and management for more than 45 years,
and owns and operates the nation's largest portfolio of neighborhood and
community shopping centers with interests in 1,117 properties comprising
approximately 143.2 million square feet of leasable space located throughout 45
states, Canada, Mexico and Puerto Rico. Please visit http://www.kimcorealty.com
to learn more about Kimco.

Contact:
Kimco Realty Corporation
Scott Onufrey
(516) 869-7190
sonufrey@kimcorealty.com