ARLINGTON, Va., Feb. 10 /PRNewswire/ -- Charles E. Smith Residential
Realty, Inc. (NYSE: SRW) announced today that it is adding three properties
with a total of 586 apartment units to its portfolio.  The properties include
the Parc Vista, a 299 unit, 16 story luxury high-rise in Northern Virginia,
and two properties totaling 287 units in northwest Washington D.C., Tunlaw
Park and Tunlaw Gardens.  The two Washington D.C. transactions have been
completed and the Parc Vista acquisition is under contract and expected to
close in early April, 1998.  The total value of the three transactions is
approximately $50.5 million, including exchange of Operating Partnership units
in conjunction with the Washington D.C. properties.
    Ernest Gerardi, Jr., President of Charles E. Smith Residential said, "The
Northern Virginia and Washington D.C. area continues to be one of the stronger
markets in the country, and we are adding quality properties to our portfolio.
These properties are well located and consistent with our position as the
nation's premier owner and operator of urban multifamily rental properties."
    The Parc Vista is a 299 unit, 16 story high rise built in 1990.  The
property is superbly located in the Crystal City/Pentagon City submarket,
adjacent to the Ritz Carlton Hotel, the Pentagon City regional mall, and a
MetroRail station.  The property contains extensive contemporary amenities,
including a rooftop pool and views of the Washington skyline, and commands the
highest rents in its submarket.  The property will be purchased for
approximately $39 million cash.  With the addition of the Parc Vista, Charles
E. Smith Residential strengthens its position in this strong submarket to 1O
properties and over 4,000 apartment units.
    Tunlaw Park and Tunlaw Gardens are located close to each other in the
desirable northwest section of Washington, D.C., and have a combined total of
287 apartment units.  The properties were purchased for a combination of $3.2
million in cash and approximately 254,000 Operating Partnership units.  These
acquisitions raise the Company's ownership in the northwest Washington D.C.
submarket to 12 properties and over 3,100 apartment units.

    Charles E. Smith Residential Realty, Inc. is a self-managed real estate
investment trust listed on the New York Stock Exchange (SRW).  The Company and
its subsidiaries and affiliates own, acquire, develop, and manage multi-family
residential properties; and also provides a full range of real estate services
to other property owners.  The Company owns a portfolio of over 18,500
apartment units, has over 2,000 units under construction, and manages an
additional 4,000+ units for other owners.  The total market capitalization of
the Company -- Charles E. Smith Residential Realty, including its Operating
Partnership -- is approximately $1.7 billion.  Investor information including
press releases about Charles E. Smith Residential Realty is available on the
Company's Web site at:  http://www.smithreit.com, and also through PR Newswire
"News on Call" by fax 800-758-5804, ext., 101271, or at:
http://www.prnewswire.com .

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