Colonial Properties Trust logo. (PRNewsFoto) BIRMINGHAM, AL USA

 Colonial Pinnacle at Craft Farms along with Cobb Theatres to Debut May 2005

    BIRMINGHAM, Ala., Sept. 9 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) announced today the development of Colonial Pinnacle at
Craft Farms, a lifestyle center in Gulf Shores, Alabama.  The Company also
confirmed that Cobb Theatres, LLC will open a state-of-the-art 14-screen
megaplex stadium seating theatre in the development.  Scheduled to open in May
2005, the 54,000 square-foot cinema will be joined by upscale specialty stores
that will offer fashion apparel, home decor, a book store and a music store as
well as upscale restaurants.  Additionally, the Company expects to include a
department store and a grocery store.  The 285,000 square-foot development is
located at the intersection of Highway 59 and County Route 4 in Gulf Shores,
Alabama.
    (Logo:  http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
    "Colonial Pinnacle at Craft Farms' exceptional location will serve as a
welcoming entranceway into the city of Gulf Shores, and further complement the
world-renowned Craft Farms," stated Charles Light, Executive Vice President
Retail Division, Colonial Properties Trust.
    "We are very proud to be a part of the city of Gulf Shores," stated Robert
M. Cobb, President, Cobb Theatres. "The 14-plex theatre, with over 3,000
seats, will feature the latest art deco architecture and state-of-the-art
entertainment facilities throughout.  Its location in front of Craft Farms was
chosen for its easy accessibility and convenience to all of Baldwin County."
    Every auditorium in the new megaplex will feature stadium seating with
high-back cushion seats, very wide spacing between rows for extra legroom, and
lift-up armrests with cup holders.  All auditoriums will house wall-to-wall
curved screens and the newest projection equipment producing the highest level
of picture quality.  Also the latest sound system technology for digital
surround sound equipment will be used to maximize the movie-going experience,
including Dolby Digital Sound (DDS), Digital Theater Sound Systems (DTS), and
Sony Dynamic Digital Sound (SDDS).
    The theatre will offer a special desk for customer service, automated
ticket machines to supplement the box office, and advance ticketing.  Credit
cards will be accepted at both the box office and the two concession stands.
Internet ticketing will also be available over the Cobb web site
( http://www.cobbtheatres.com ).  Another exciting plus for Cobb patrons will
be the Cobb Frequent Moviegoer program where customers will be able to earn
free movie tickets and free concession items.
    Cobb concluded by saying, "The Pinnacle 14 Cinemas will offer the ultimate
movie-going experience with the best seats for all the best movies."
    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 $3.2 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy.  The
Company manages or leases 21,300 apartment units, 6.7 million square feet of
office space and 15.7 million square feet of retail shopping space.
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.

Link to this page: