BIRMINGHAM, Ala., Jan. 3 /PRNewswire/ -- Colonial Properties Trust
(NYSE: CLP) announced today that the company's computers, computer-based
systems and timekeeping devices performed successfully during the rollover to
the Year 2000.
Colonial Properties Trust began addressing Year 2000 issues in 1998. The
company identified areas serviced by computers, computer-based systems or
timekeeping devices that could be affected by the Year 2000 date. The company
addressed issues at the home office, regional offices and in the portfolio
properties. "By Saturday, January 1, 2000, we had verified that all of our
accounting systems and property management systems were functioning properly
and that we experienced no disruptions in our business at the corporate
office, regional offices, or our property locations," stated Jack Kemph,
Director of Information Technology, Colonial Properties Trust. "We are in
contact with our vendors to verify their smooth transition into the Year 2000
as well."
Headquartered in Birmingham, Ala., Colonial Properties Trust is a
diversified Real Estate Investment Trust (REIT) that, through its
subsidiaries, owns a portfolio of 111 multifamily, office and retail
properties where you live, work and shop in Alabama, Florida, Georgia,
Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.
Colonial Properties Trust performs development, acquisition, management,
leasing and brokerage services for its portfolio and properties owned by third
parties. Colonial Properties Trust is one of the largest diversified REITs in
the United States with a total market capitalization of $2.1 billion. The
company operates more than 16,106 apartment units, 3.0 million square feet of
office space and 13.8 million square feet of retail shopping space.
Additional information on Colonial Properties Trust is available on the
Internet at http://www.colonialprop.com .
SOURCE Colonial Properties Trust
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Related links:
http://www.colonialprop.com
Company News On-Call:
http://www.prnewswire.com/comp/184657.html or fax,
800-758-5804, ext. 184657
CONTACT:
S. Lee Robertson, Vice President - Investor
Relations, 205-250-8788, or Linda S. Geiss, Vice President -
Media Relations, 205-250-8768, both of Colonial Properties Trust
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