PPS Post Properties, Inc. (delisted)

Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.45 per share for the first quarter of 2008. The Company�s annual dividend rate is $1.80 per common share. The dividend is payable on April 15, 2008 to all common stock shareholders of record as of March 31, 2008. Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock. On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the first quarter. The dividend is payable on March 31, 2008 to all Series A preferred stock shareholders of record as of March 15, 2008. On its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $0.47656 per share for the first quarter. The dividend is payable on March 31, 2008 to all Series B preferred stock shareholders of record as of March 15, 2008. About Post Properties Post Properties (www.postproperties.com), founded more than 36 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States. The Company�s mission is delivering superior satisfaction and value to its residents, associates, and investors, with a vision of being the first choice in quality multifamily living. Operating as a real estate investment trust (�REIT�), the Company focuses on developing and managing Post(R) branded resort-style garden and high density urban apartments. In addition, the Company develops high-quality condominiums and converts existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia, and has operations in ten markets across the country. Post Properties owns 22,435 apartment homes in 62 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 2,266 apartment units in seven communities (and the expansion of one community) currently under construction and/or in lease-up. The Company owns and is developing and selling 535 for-sale condominium homes in four communities (including 137 units in one community held in an unconsolidated entity) and is converting apartment units in two communities initially consisting of 349 units into for-sale condominium homes through a taxable REIT subsidiary.