Post Properties Announces Quarterly Dividends and Annual Shareholders Meeting Results

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 second quarter of 2011. The dividend is payable on July 15, 2011 to all common shareholders of record as of June 30, 2011.

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

Shareholders elected the Board’s nine nominees, voted to approve, on an advisory basis, executive compensation, voted for a one year frequency, on an advisory basis, on the future advisory vote on executive compensation, and ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accountants for 2011. On May 25, 2011, following the Annual Meeting of Shareholders, the Board of Directors determined that future advisory votes on executive compensation will be held on an annual basis.

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 nine markets across the country.

Post Properties owns interests in 20,629 apartment units in 56 communities, including 1,747 apartment units in five communities held in unconsolidated entities and 766 apartment units at three communities currently under construction. The Company is also selling luxury for-sale condominium homes in two communities through a taxable REIT subsidiary.