PPS Post Properties, Inc. (delisted)

Post Properties Announces Estimated Income Tax Characteristics of 2003 Dividends ATLANTA, Jan. 9 /PRNewswire-FirstCall/ -- Post Properties, Inc. announced today how it expects its 2003 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 15, 2004 is taxable in year 2004. 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. Post Properties, Inc., a leading developer and operator of upscale apartment communities in the United States, pioneered building and branding resort-style garden apartments for more than 30 years. Post now also focuses on the creation of high-quality, high-density, live-work-walk neighborhoods in infill locations in major urban markets. The company has been recognized locally, nationally and internationally for building better neighborhoods and the preservation of historic buildings. Operating as a self-administered and self-managed equity real estate investment trust (REIT), the company's primary business consists of developing and managing Post(R) brand-name apartment communities. Nationwide, Post Properties owns approximately 28,081 apartment homes in 76 communities, including 468 units currently under development and lease-up. Post Properties, Inc. Estimated Income Tax Characteristics of 2003 Dividends Declaration Record Payable Distribution Date Date Date Per Share Common Stock- (PPS) (CUSIP 737464107) 11/12/2002 01/02/2003 01/15/2003 $ 0.7800 02/20/2003 03/31/2003 04/14/2003 $ 0.4500 05/22/2003 06/30/2003 07/15/2003 $ 0.4500 09/08/2003 09/30/2003 10/15/2003 $ 0.4500 11/05/2003 01/02/2004 01/15/2004 $ 0.4500 Total $ 2.130 (d) Total Ordinary Taxable Dividends (a) = Breakout of (a) Ordinary Ordinary Short-Term Taxable Income Capital Qualified Dividends Dividends Gain Dividends 7.3932% 7.3932% 0.0000% 0.0000% 7.3932% 7.3932% 0.0000% 0.0000% 7.3932% 7.3932% 0.0000% 0.0000% 7.3932% 7.3932% 0.0000% 0.0000% See Note See Note See Note See Note 7.3932% 7.3932% 0.0000% 0.0000% (b) Total Capital Gain Distribution = Breakout of (b) Total Post-May 5 Qualified Unrecaptured Pre-May 6 Capital Gain Cap. Gain Five-Year Sec. 1250 28% Rate Capital Distribution Gain Gain Gain Gain Gain 31.316% 13.0676% 0.0000% 14.5456% 0.0000% 3.7028% 31.316% 13.0676% 0.0000% 14.5456% 0.0000% 3.7028% 31.316% 13.0676% 0.0000% 14.5456% 0.0000% 3.7028% 31.316% 13.0676% 0.0000% 14.5456% 0.0000% 3.7028% See Note See Note See Note See Note See Note See Note 31.316% 13.0676% 0.0000% 14.5456% 0.0000% 3.7028% (c) (a)+(b)+(c) Return of Capital Total % 61.2908% 100.000% 61.2908% 100.000% 61.2908% 100.000% 61.2908% 100.000% See Note See Note 61.2908% 100.000% (d) Note: The Common Stock dividend payable on 1/15/04 is taxable in Year 2004 - no portion of that dividend is taxable in Year 2003 8.5% Series A Cumulative Redeemable Preferred (PPS) (CUSIP 737464206) Declaration Record Payable Distribution Date Date Date Per Share 02/20/2003 03/15/2003 03/31/2003 $ 1.0625 05/22/2003 06/15/2003 06/30/2003 $ 1.0625 09/08/2003 09/15/2003 09/30/2003 $ 1.0625 11/05/2003 12/15/2003 12/31/2003 $ 1.0625 Total $ 4.2500 Total Ordinary Taxable Dividends (a) = Breakout of (a) Ordinary Ordinary Short-Term Taxable Income Capital Qualified Dividends Dividends Gain Dividends 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% (b) Total Capital Gain Distribution = Breakout of (b) Total Post-May 5 Qualified Unrecaptured Pre-May 6 Capital Gain Cap. Gain Five-Year Sec. 1250 28% Rate Capital Distribution Gain Gain Gain Gain Gain 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% (c) (a)+(b)+(c) Return of Capital Total % 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 7.625% Series B Cumulative Redeemable Preferred (PPS) (CUSIP 737464305) Declaration Record Payable Distribution Date Date Date Per Share 02/20/2003 03/15/2003 03/31/2003 $ 0.47656 05/22/2003 06/15/2003 06/30/2003 $ 0.47656 09/08/2003 09/15/2003 09/30/2003 $ 0.47656 11/05/2003 12/15/2003 12/31/2003 $ 0.47656 Total $ 1.90624 Total Ordinary Taxable Dividends (a) = Breakout of (a) Ordinary Ordinary Short-Term Taxable Income Capital Qualified Dividends Dividends Gain Dividends 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% (b) Total Capital Gain Distribution = Breakout of (b) Total Post-May 5 Qualified Unrecaptured Pre-May 6 Capital Gain Cap. Gain Five-Year Sec. 1250 28% Rate Capital Distribution Gain Gain Gain Gain Gain 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% (c) (a)+(b)+(c) Return of Capital Total % 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 7.625% Series C Cumulative Redeemable Preferred (PPS) (CUSIP 737464404) Declaration Record Payable Distribution Date Date Date Per Share 02/20/2003 03/15/2003 03/31/2003 $ 0.47656 05/22/2003 06/15/2003 06/30/2003 $ 0.47656 09/08/2003 09/15/2003 09/30/2003 $ 0.47656 11/05/2003 12/15/2003 12/31/2003 $ 0.47656 Total $ 1.90624 Total Ordinary Taxable Dividends (a) = Breakout of (a) Ordinary Ordinary Short-Term Taxable Income Capital Qualified Dividends Dividends Gain Dividends 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% 19.0993% 19.0993% 0.0000% 0.0000% (b) Total Capital Gain Distribution = Breakout of (b) Total Post-May 5 Qualified Unrecaptured Pre-May 6 Capital Gain Cap. Gain Five-Year Sec. 1250 28% Rate Capital Distribution Gain Gain Gain Gain Gain 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% 80.9007% 33.7585% 0.0000% 37.5766% 0.0000% 9.5656% (c) (a)+(b)+(c) Return of Capital Total % 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% 0.0000% 100.000% DATASOURCE: Post Properties, Inc. CONTACT: Janie Maddox of Post Properties, Inc., +1-404-846-5056 Web site: http://www.postproperties.com/

Copyright