BIRMINGHAM, Ala., Nov. 12 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) announced today the appointment of John W. Spiegel, Vice
Chairman and Chief Financial Officer of SunTrust Banks Inc., to the Board of
Directors of Colonial Properties Trust. Shareholders will cast election
ballots at the 2004 Annual Shareholder Meeting. In addition, Mr. Spiegel was
added to the Audit Committee and will serve as the financial expert on the
committee.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
"John's financial expertise will make him a valuable addition to our Board
which will benefit our clients, merchants, residents, shareholders and
employees," said Thomas H. Lowder, Chairman of the Board of Trustees,
President and Chief Executive Officer, Colonial Properties Trust.
Since 1985, Spiegel has been Chief Financial Officer of SunTrust Banks.
Headquartered in Atlanta, Georgia, SunTrust is one of the nation's largest
commercial banking organizations. Spiegel is responsible for the Company's
finance-related functions including Accounting, Funds Management, Risk
Management, Strategic Finance and Taxes, plus Mergers and Acquisitions,
Investor Relations and the Treasury unit.
A native of Shelbyville, Indiana, Spiegel earned an MBA from Emory
University, where he is a member of the Dean's Advisory Council, and earned a
bachelor's degree in Economics and Political Science from Wabash College.
Spiegel is also a Doctoral Candidate at Nova Southeastern University. In
1996, he published his first book, Banking Redefined.
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 $2.8 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
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CONTACT:
Sandra Lee Robertson, Senior Vice President -
Finance, +1-205-250-8788, Linda S. Geiss, Vice President - Media
Relations, +1-205-250-8768, both of Colonial Properties Trust
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