BIRMINGHAM, Ala., Jan. 21 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) (the "Company") has been made aware of certain discussions
in the marketplace surrounding the potential sale of a number of the Company's
assets. Consistent with the Company's diversified strategy and past
practices, the Company continues to consider the possible sale of properties
with the intent of reallocating capital in the Company's portfolio. As is the
Company's policy for acquisitions and sales, the Company will make an
appropriate announcement if such an event occurs. We will provide earnings
guidance for 2004 and a discussion of external investment activities on our
quarterly conference call to be held on Tuesday, January 27th. The call will
be held at 1:00 CST and may be accessed by dialing 1-877-500-9123.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of 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 a diversified REIT, which has a total market
capitalization of $3.1 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 19,500 apartment units, 6.5 million square feet of
office space and 15.6 million square feet of retail shopping space. In 2003,
the National Association of Industrial and Office Properties (NAIOP) named
Colonial Properties Trust "National Developer of the Year." Additional
information on Colonial Properties Trust is available on the Internet
at http://www.colonialprop.com . The Company, headquartered in Birmingham, Ala., is
listed on the New York Stock Exchange under the symbol "CLP" and is included
in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
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Related links:
http://www.colonialprop.com
Photo Notes:
NewsCom:
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CONTACT:
Sandra Lee Robertson, Senior Vice President -
Finance, +1-205-250-8788, or Linda S. Geiss, Vice President -
Corporate Affairs, +1-205-250-8768, both of Colonial Properties
Trust
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