CLEVELAND, Aug. 9 -- Associated Estates Realty
Corporation announced today that a quarterly dividend of $0.54375 per one-
tenth depositary share has been declared on the Company's 8.70% Class B
Series II Cumulative Redeemable Preferred Shares (NYSE: AECPRB), payable on
September 15, 2006 to shareholders of record on September 1, 2006. Each
depositary share represents one-tenth of a share of the Company's 8.70%
Class B Series II Cumulative Redeemable Preferred Shares.
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 105 multifamily properties containing a total of 21,699 units
located in 10 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. For more information, access the
Investor Relations "News" section of http://www.aecrealty.com.
