Post Properties, Inc. (NYSE: PPS) announced today how it expects its 2011 dividends to be classified for federal income tax purposes. The dividend classifications are shown on the attached chart. Of special note is that for tax reporting purposes, the common stock dividend paid on January 13, 2012 is taxable in year 2012. This release is based on the preliminary results of work on the Company's tax filings and is subject to correction or adjustment when the filings are completed.

The Company is releasing information at this time to aid those required to distribute Forms 1099 on the Company's dividends. No material change in these classifications is expected.

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 has interests in 21,658 apartment units in 58 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.

Post Properties, Inc.
Estimated Income Tax Characteristics of 2011 Dividends for Form 1099-DIV
                                                                   
Total Ordinary Taxable Dividends Total Capital Gain Distribution
(a) = Breakout of (a) (b) = Breakout of (b) (c) (a)+(b)+(c)

Ordinary
Taxable
Dividends
(Box 1a Total)

     Total
Capital Gain
Distribution		       Unrecaptured
Sec. 1250
Gain
Ordinary IncomeDividends Short-Term
Capital
Gain

Qualified
Dividends
(Box 1b Total)

Long-Term
Capital
Gain		 Return

of Capital


(Box 3)
DeclarationDate RecordDate PayableDate DistributionPer Share
 

(Box 2a Total)

(Box 2b)Total %
 

Common Stock- (PPS) (CUSIP 737464107)

 
12/2/2010 1/3/2011 1/14/2011 $ 0.2000 27.9514 % 27.9514 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 72.0486 % 100.000 %
 
2/8/2011 3/31/2011 4/15/2011 $ 0.2000 27.9514 % 27.9514 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 72.0486 % 100.000 %
 
5/26/2011 6/30/2011 7/15/2011 $ 0.2000 27.9514 % 27.9514 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 72.0486 % 100.000 %
 
8/1/2011 9/30/2011 10/14/2011 $ 0.2200 27.9514 % 27.9514 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 72.0486 % 100.000 %
 
12/9/2011 1/3/2012 1/13/2012 $ 0.2200 (1 ) See Note See Note See Note See Note See Note See Note See Note See Note See Note
 
2011 Total $ 0.8200
 
(1) Note: The Common Stock dividend paid on 1/13/12 is taxable in Year 2012 - no portion of that dividend is taxable in Year 2011.
 

8.5% Series A Cumulative Redeemable Preferred (PPS) (CUSIP 737464206)

 
2/8/2011 3/15/2011 3/31/2011 $ 1.0625 100.0000 % 100.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.000 %
 
5/26/2011 6/15/2011 6/30/2011 $ 1.0625 100.0000 % 100.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.000 %
 
8/1/2011 9/15/2011 9/30/2011 $ 1.0625 100.0000 % 100.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.000 %
 
12/5/2011 12/15/2011 12/31/2011 $ 1.0625 100.0000 % 100.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.000 %
 
Total $ 4.2500
 
 

7.625% Series B Cumulative Redeemable Preferred (PPS) (CUSIP 737464305)

 
2/8/2011 3/14/2011 3/14/2011 $ 0.386543 (2 ) 100.0000 % 100.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 100.000 %
 
$ - 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.000 %
 
$ - 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.000 %
 
$ - 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.0000 % 0.000 %
 
Total $ 0.386543
 
(2) Note: Series B Preferred Shares were Redeemed on 3/14/11. Amount reflects 2011 dividend through Redemption Date.

Post Properties, Inc.
Chris Papa, 404-846-5000