BRE Properties Announces Tax Status of 2011 Dividends

BRE Properties, Inc. (NYSE:BRE) today announced the 2011 dividend tax status of its distributions to shareholders. The 2011 distribution classifications are:

Wells Fargo Shareowner Services will distribute copies of IRS Form 1099-DIV to 2011 shareholders of record of BRE's common and preferred stock. Shareholders who held BRE's stock in "street name" during 2011 will receive the form from their bank, brokerage or nominee. BRE recommends shareholders consult a tax professional to determine how distributions should be reported on state and federal tax forms.

In response to recently enacted Internal Revenue Code Section 6045B requirements, BRE has posted to its website Internal Revenue Service Form 8937 (Report of Organizational Actions Affecting Basis of Securities) related to return of capital dividends on Common Stock, the redemption of 4,000,000 of its 6.75% Series C Cumulative Redeemable Preferred Stock on June 13, 2011, and the open market repurchase of 840,285 shares of outstanding 6.75% Series D Cumulative Redeemable Preferred Stock on August 15, 2011 all of which may be found at www.breproperties.com/investors/taxinfo/.

About BRE Properties

BRE Properties, based in San Francisco, California, focuses on the development, acquisition and management of apartment communities located primarily in the major metropolitan markets of Southern and Northern California and Seattle. BRE directly owns 78 multifamily communities (totaling 21,971 units) and has joint venture interests in an additional 12 apartment communities (totaling 3,856 units). BRE Properties is a real estate investment trust (REIT) listed in the S&P MidCap 400 Index. For more information on BRE Properties, please visit our website at www.breproperties.com.