Post Properties Announces Quarterly Dividends

Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced quarterly dividends on its common stock of $0.22 per share for the third quarter of 2011. The dividend is payable on October 14, 2011 to all common stockholders of record as of September 30, 2011.

Post also announced regular quarterly dividends on its 8.5 percent Series A Cumulative Redeemable Preferred Stock of $1.0625 per share for the third quarter of 2011. The dividend is payable on September 30, 2011 to all Series A preferred stockholders of record as of September 15, 2011.

Said Dave Stockert, CEO and President, "We are pleased that the strength of our business supports the 10% increase in the quarterly rate of dividends to common stockholders. With today’s announcement, we expect our annual run-rate of common stock dividends to rise to $0.88 per share.”

About Post Properties

Post Properties, founded 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 ten markets across the country.

Post Properties owns interests in 21,431 apartment units in 57 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 1,568 apartment units in five communities currently under development. The Company is also selling luxury for-sale condominium homes in two communities through a taxable REIT subsidiary.

Forward Looking Statements

Certain statements made in this press release and other written or oral statements made by or on behalf of the Company, may constitute "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and the Company's future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. In particular, statements in this press release regarding future dividend levels are forward-looking statements. All forward-looking statements are subject to certain risks and uncertainties that could cause actual events to differ materially from those projected. Management believes that these forward-looking statements are reasonable; however, you should not place undue reliance on such statements. These statements are based on current expectations and speak only as of the date of such statements. With respect to our dividend levels, the Company’s board of directors reviews the dividend quarterly, and there can be no assurance that the current dividend level will be maintained in future periods. There are a number of important factors that could cause the Company's actual results and its expectations to differ materially from those described in the Company's forward-looking statements, including those included under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.