PPS Post Properties, Inc. (delisted)

David C. Ward Joins Post Properties as Executive Vice President, Regional Investment Director Brings 18 Years Broad Multifamily Experience ATLANTA, Aug. 2 /PRNewswire-FirstCall/ -- Post Properties, Inc. (NYSE:PPS) today announced that David C. Ward has joined the company as executive vice president and regional investment director for the company's markets in the Southwest. Prior to joining Post, Ward was a founding partner of San Gabriel Residential, Inc., a Dallas-based multifamily development and investment company, and was divisional president and managing partner for JPI Partners, Inc., where he was responsible for multifamily development, construction and management activities for three regional offices in Texas and Florida. (Logo: http://www.newscom.com/cgi-bin/prnh/20040514/POSTPLOGO ) Ward will oversee Post's regional value creation team operating from Dallas. In this role, he will be responsible for development, acquisitions, dispositions, and asset management. Building regional value creation teams is a central element of Post's corporate strategy. "As our key markets recover, we will aggressively seek opportunities to deliver value to our shareholders through a full range of investment activities," said Tom Senkbeil, executive vice president and chief investment officer of Post Properties. "Having an experienced multifamily executive like David Ward on the ground and actively pursuing opportunities in our western markets is absolutely critical to this effort. We're delighted to welcome David as a key member of the Post team." During his career, Ward has been responsible for the development and management of over $1.5 billion in assets encompassing 55 transactions in 11 major markets. He has significant multifamily experience, including the development, leasing and sales of 26 communities valued at approximately $845 million, netting a pre-tax profit in excess of $125 million. Ward is a 1981 graduate of Texas Tech University, and is a certified public accountant. He and his wife Susan reside in Dallas with their three children. 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 24,700 apartment homes in 65 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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