Media Release  
CONTACT:   Cameron Andrews
Pier Communications
310.452.7057
cameron@piercomm.com    

GLADSTONE’S LONG BEACH SET TO OPEN
AT THE PIKE AT RAINBOW HARBOR

Bringing Casual Fun And Sensational Seafood To Downtown Long Beach, Gladstone’s Is Nestled On The Waterfront And Features Magnificent Views

LONG BEACH, Calif., (November 04, 2004) --- Gladstone’s Long Beach is ready to set sail when it opens its doors to the public today at 5 p.m. The new 9,000-square-foot fish and fun eatery is conveniently located at the end of Pine Avenue in the center of the waterfront development at The Pike at Rainbow Harbor between the Long Beach Convention and Entertainment Center and the world-famous Aquarium of the Pacific.

“On behalf of the 200-plus employees at Gladstone’s Long Beach, we extend our warmest invitation to the community to visit our newest location,” says John Sangmeister, President and CEO of Gladstone’s Long Beach. “This restaurant features a very fun and inviting environment, great food and value, complete with awesome views of the Queen Mary, Pacific Ocean and Harbor Area.”

Gladstone’s Long Beach will present culinary hits from its sister restaurants, Malibu and Universal CityWalk, and also showcase its own specialties including large portions of fresh seafood, sushi, grilled steaks and chops, healthy salads, and delicious desserts.

With a total seating capacity of 425, Gladstone’s Long Beach offers four distinct areas including the Bar / Sushi Bar, Main Dining area, the Party Room and the Deck Area, which seats up to 125 guests.

The restaurant’s décor is highlighted by photography of Long Beach’s history with shots of the former Pike at Rainbow Harbor area, which are being produced as oversized art pieces for the walls. The lobby features the original giant Gladstone's sign from the Malibu location, which created the archway to the restaurant’s entrance off of Sunset Blvd., and Pacific Coast Highway. And to be suspended from the rafters will be the Spruce Goose replica as seen in the upcoming biopic of Howard Hughes career in The Aviator with Leonardo DiCaprio.

Gladstone’s Long Beach is committed to the growth of the waterfront project and has signed a 20-year lease with Developers Diversified Realty, which developed, owns and operates The Pike at Rainbow Harbor.

“We are thrilled to be working with Developers Diversified Realty in their redevelopment of downtown Long Beach and especially as a part of the evolution of the waterfront area,” adds Sangmeister.

In addition to its business commitment with the city of Long Beach and Developers Diversified Realty, Gladstone’s Long Beach is focused on the betterment of the community, whereas more than 50 percent of its employees reside in Long Beach. The restaurant will also host a charity dinner and benefit for Long Beach-based Miller Children’s Hospital and U.S. Sailing on Sunday, November 14.

Gladstone’s Long Beach will be open Sunday to Wednesday from 11 a.m. to midnight and Thursday to Saturday from 11 a.m. to 1 a.m. Parking at Gladstone's Long Beach is convenient and affordable with ample self-parking available within The Pike at Rainbow Harbor and valet parking offered next to the restaurant.

About Gladstone’s Long Beach
Gladstone’s Long Beach features fish and fun in a casual, unique waterfront setting with stunning views of the Queen Mary, Pacific Ocean and Harbor Area. With 9,000-square-feet and total seating capacity of 425 guests, the restaurant offers four dining areas to choose from. Gladstone’s Long Beach is the third location joining the original in Malibu and Universal CityWalk. Gladstone’s Long Beach is located at 330 South Pine Avenue, Long Beach, Calif., 90802. For more information, please call (562) 432-8588 or visit www.gladstoneslongbeach.com.

About The Pike At Rainbow Harbor
The Pike at Rainbow Harbor is a vibrant dining, retail and entertainment destination ideally located on the waterfront in the heart of downtown Long Beach. A popular selection of restaurants with harbor views can be found next door to world-class entertainment. Have fun at GameWorks with the whole family, ride the antique carousel or catch the latest movie release at the state of the art, all-stadium seating Cinemark Theatre complex. Dine on delicious dishes from exotic to all-American faire or simply enjoy the cool ocean breezes. Whatever your pleasure, you're sure to find it at Southern California's newest hot spot, The Pike at Rainbow Harbor located at 95 South Pine Avenue, Long Beach, Calif., 90802. For more information please call 562.432.8325 or visit www.shopthepike.com.

About Developers Diversified Realty
Developers Diversified owns and manages over 460 retail operating and development properties totaling approximately 102 million square feet of real estate in 44 states. Developers Diversified is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated real estate company which develops, leases and manages shopping centers. You can learn more about Developers Diversified Realty on the Internet at www.ddr.com.

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