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 $0.20 per share for the fourth quarter of 2010. The dividend is payable on January 14, 2011 to all common stock shareholders of record as of January 3, 2011.

Post also announced regular quarterly dividends for its 8.5 percent Series A Cumulative Redeemable Preferred Stock and its 7 5/8 percent Series B Cumulative Redeemable Preferred Stock.

On its 8.5 percent Series A Cumulative Redeemable Preferred Stock, Post declared a regular quarterly dividend of $1.0625 per share for the fourth quarter. The dividend is payable on December 31, 2010 to all Series A preferred stock shareholders of record as of December 15, 2010.

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 fourth quarter. The dividend is payable on December 31, 2010 to all Series B preferred stock shareholders of record as of December 15, 2010.

About Post Properties

Post Properties, founded more than 39 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 nine markets across the country.

Post Properties has interests in 20,207 apartment units in 56 communities, including 1,747 apartment units in five communities held in unconsolidated entities, 396 apartment units in one community currently in lease-up and 344 apartment units in one community currently under construction. The Company is also developing and selling 277 luxury for-sale condominium homes in two communities through a taxable REIT subsidiary.