PPS Post Properties, Inc. (delisted)

Post Properties Announces Quarterly Dividends ATLANTA, May 27 /PRNewswire-FirstCall/ -- 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 second quarter of 2004. The Company's annual dividend rate is $1.80 per common share. The dividend is payable on July 15, 2004 to all common stock shareholders of record as of June 30, 2004. (Logo: http://www.newscom.com/cgi-bin/prnh/20040514/POSTPLOGO ) Post also announced regular quarterly dividends for its 8-1/2 percent Series A Cumulative Redeemable Preferred Stock, its 7-5/8 percent Series B Cumulative Redeemable Preferred Stock, and its 8 percent Series D Preferred Units. On its 8-1/2 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the second quarter. The dividend is payable on June 30, 2004 to all Series A preferred stock shareholders of record as of June 15, 2004. 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 second quarter. The dividend is payable on June 30, 2004 to all Series B preferred stock shareholders of record as of June 15, 2004. On its 8 percent Series D Preferred Units, Post declared a regular quarterly distribution of $0.50 per unit for the period June 1, 2004 through August 31, 2004, payable on September 1, 2004 to all Series D Preferred unitholders of record as of August 15, 2004. Post Properties, founded more than 30 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. Operating as a real estate investment trust (REIT), the Company focuses on developing and managing Post(R) branded resort-style garden apartments and high density urban apartments with a vision of being the first choice in quality multifamily living. Post Properties is headquartered in Atlanta, Georgia, and has operations in 10 markets across the country. Nationwide, Post Properties owns approximately 27,683 apartment homes in 71 communities, including 666 apartment homes held in three unconsolidated joint ventures. http://www.newscom.com/cgi-bin/prnh/20040514/POSTPLOGO http://photoarchive.ap.org/ DATASOURCE: Post Properties, Inc. CONTACT: Janie Maddox of Post Properties, Inc., +1-404-846-5056 Web site: http://www.postproperties.com/

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