Shearman & Sterling represented Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wachovia Capital Markets, LLC as joint book-running managers in connection with a public offering by Inland Real Estate Corporation consisting of 17,134,700 shares of common stock, which includes the exercise, in part, of the underwriters’ over-allotment option to purchase up to an additional 2,400,000 shares. Inland Real Estate Corporation is a REIT that owns interests in open-air neighborhood, community, power, and lifestyle retail centers and single-tenant properties located primarily in the Midwestern United States.

The following Shearman & Sterling team advised the underwriters in the transaction: partners Joel S. Klaperman (New York-Capital Markets), Danielle Carbone (New York-Capital Markets) and Roger J. Baneman (New York-Tax); counsel Jason Y. Pratt (New York-Property/Environmental); and associates Jordan A. Costa (New York-Capital Markets), Christopher P. Rosado (New York-Capital Markets) and Dawei (David) Ni (New York-Capital Markets).