PPS Post Properties, Inc. (delisted)

Post Properties, Inc. (NYSE: PPS) announced today how it expects its 2010 dividends to be classified for federal income tax purposes. The dividend classifications are shown on the attached chart. Of special note is that for tax reporting purposes, the common stock dividend payable on January 14, 2011 is taxable in year 2011. This release is based on the preliminary results of work on the Company’s tax filings and is subject to correction or adjustment when the filings are completed.

The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company’s dividends. No material change in these classifications is expected.

About Post Properties

Post Properties, founded nearly 40 years ago, is a leading developer and operator of upscale multifamily communities. 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® branded resort-style garden and high density urban apartments. Post Properties is headquartered in Atlanta, Georgia, and has operations in nine markets across the country.

Post Properties has interests in 20,207 apartment units in 55 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 344 apartment units in the second phase of one community currently under construction. The Company is also selling luxury for-sale condominium homes in two communities through a taxable REIT subsidiary.

Post Properties, Inc. Estimated Income Tax Characteristics of 2010 Dividends for Form 1099-DIV                       Total Ordinary Taxable Dividends

Total Capital GainDistribution

(a) = Breakout of (a) (b) = Breakout of (b) (c) (a )+(b)+(c)

DeclarationDate

RecordDate

PayableDate

DistributionPer Share

OrdinaryTaxableDividends(Box 1a Total)

OrdinaryIncomeDividends

Short-TermCapitalGain

QualifiedDividends(Box 1b Total)

TotalCapital GainDistribution(Box 2a Total)

Long-TermCapitalGain

UnrecapturedSec. 1250Gain(Box 2b)

Returnof Capital(Box 3)

Total %  

Common Stock- (PPS) (CUSIP 737464107)

  12/10/2009 1/4/2010 1/15/2010 $ 0.2000 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   2/25/2010 3/31/2010 4/15/2010 $ 0.2000 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   5/19/2010 6/30/2010 7/15/2010 $ 0.2000 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   9/15/2010 9/30/2010 10/15/2010 $ 0.2000 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   12/2/2010 1/3/2011 1/14/2011 $ 0.2000 (1 ) See Note See Note See Note See Note See Note See Note See Note See Note See Note   Total $ 0.8000  

(1) Note: The Common Stock dividend payable on 1/14/11 is taxable in Year 2011 - no portion of that dividend is taxable in Year 2010

 

8.5% Series A Cumulative Redeemable Preferred (PPS) (CUSIP 737464206)

  2/25/2010 3/15/2010 3/31/2010 $ 1.0625 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   5/19/2010 6/15/2010 6/30/2010 $ 1.0625 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   9/15/2010 9/15/2010 9/30/2010 $ 1.0625 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   12/2/2010 12/15/2010 12/31/2010 $ 1.0625 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   Total $ 4.2500    

7.625% Series B Cumulative Redeemable Preferred (PPS) (CUSIP 737464305)

  2/25/2010 3/15/2010 3/31/2010 $ 0.47656 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   5/19/2010 6/15/2010 6/30/2010 $ 0.47656 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   9/15/2010 9/15/2010 9/30/2010 $ 0.47656 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   12/2/2010 12/15/2010 12/31/2010 $ 0.47656 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.0000 % 100.000 %   Total $ 1.90624