Associated Estates Realty Corporation Announces 2005 Tax Allocations of Common and Preferred Share Dividends

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Associated Estates Realty Corporation Announces 2005 Tax Allocations of Common and Preferred Share Dividends

    CLEVELAND, Jan. 20 /PRNewswire-FirstCall/ -- Associated Estates Realty
Corporation announced today the 2005 tax allocations of the dividends paid by
Associated Estates Realty Corporation on the Company's common and preferred
shares.
    The schedules below are provided for informational purposes and should
only be used by shareholders of Associated Estates Realty Corporation to
clarify the Form 1099-DIV.



    Common Shares (NYSE: AEC)
    Cusip: 045604  10  5

      Record  Payable  Ordinary   Nontaxable   Total   Unrecaptured    Total
       Date    Date     Taxable   Return of   Capital  Section 1250  Dividends
                       Dividends   Capital     Gain       Gain (a)
                                Distributions
     1/14/05   2/1/05  $0.00000   $0.00000   $0.170000   $0.066019   $0.170000
     4/15/05   5/2/05   0.00000    0.00000    0.170000    0.066019    0.170000
     7/15/05   8/1/05   0.00000    0.00000    0.170000    0.066019    0.170000
    10/14/05  11/1/05   0.00000    0.00000    0.170000    0.066019    0.170000
    12/29/05  1/23/06   0.00000    0.00000    0.070258    0.027285    0.070258
                       $0.00000   $0.00000   $0.750258   $0.291361   $0.750258
    (a) Represents additional characterization of amounts included in Total
Capital Gain.

    Shareholders should be aware that the 2005 taxable dividend income
includes only a portion ($0.070258 per share) of the $0.17 per share dividend
payable on January 23, 2006. The remaining portion ($0.099742 per share) of
the dividend payable on January 23, 2006, will be taxable to shareholders in
2006.



    Preferred B Shares (NYSE: AECPRB)
    Cusip: 045604  40  2

      Record  Payable  Ordinary   Nontaxable   Total   Unrecaptured    Total
       Date    Date     Taxable   Return of   Capital  Section 1250  Dividends
                       Dividends   Capital     Gain       Gain (a)
                                Distributions
      3/1/05  3/15/05 $0.000000  $0.000000   $0.580000   $0.225241   $0.580000
      6/1/05  6/15/05  0.000000   0.000000    0.543750    0.211163    0.543750
      9/1/05  9/15/05  0.000000   0.000000    0.543750    0.211163    0.543750
     12/1/05 12/15/05  0.000000   0.000000    0.543750    0.211163    0.543750
                      $0.000000  $0.000000   $2.211250   $0.858730   $2.211250
    (a) Represents additional characterization of amounts included in Total
Capital Gain.


    Associated Estates Realty Corporation, one of the largest multifamily
property owners in the United States, is a real estate investment trust
("REIT"), headquartered in Richmond Heights, Ohio, a suburb of Cleveland. The
Company directly or indirectly owns, manages, or is a joint venture partner in
111 multifamily properties containing a total of 23,753 units located in 11
states.

    For more information, please contact: Barbara E. Hasenstab, Vice President
of Investor Relations and Corporate Communications, by telephone at
216-797-8798 or e-mail at IR@aecrealty.com. This press release and other
corporate information are available through the Company's web site on the
Internet at http://www.aecrealty.com. AEC's web site is linked to Sharebuilder, an
online service that allows investments in shares of AEC common stock directly
on a recurring basis. For more information, access the Investor Relations
"News" section of http://www.aecrealty.com.

SOURCE Associated Estates Realty Corporation

http://www.aecrealty.com
CONTACT:
Barbara E. Hasenstab, Vice President of
Investor Relations and Corporate Communications of Associated
Estates Realty Corporation, +1-216-797-8798, or IR@aecrealty.com