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Post Apartment Homes, L.P. Announces Pricing Of $250 Million 3.375% Notes Due 2022

Post Apartment Homes, L.P., the operating subsidiary of Post Properties, Inc. (NYSE: PPS), announced today that it has priced a public offering of $250 million aggregate principal amount of senior unsecured notes due 2022. The notes will bear interest at a rate of 3.375% and are being offered to investors at a price of $999.72 per $1,000 in principal amount. Post Apartment Homes, L.P. intends to use the net proceeds from this offering to redeem the remaining approximately $130.1 million in principal outstanding of its 6.30% senior unsecured notes, which mature on June 1, 2013, and pay premiums and related fees and expenses of approximately $4.1 million in connection therewith and for general corporate purposes, which may include future property acquisitions. The offering is expected to close on November 7, 2012, subject to customary closing conditions.

Wells Fargo Securities, J.P. Morgan and SunTrust Robinson Humphrey are acting as joint book-running managers with PNC Capital Markets LLC, Mitsubishi UFJ Securities, BB&T Capital Markets, Capital One Southcoast, TD Securities, US Bancorp and The Williams Capital Group, L.P. acting as co-managers.

The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of these documents may be obtained by contacting Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, toll-free: 1-800-326-5897, emailing: cmclientsupport@wellsfargo.com; J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk – 3 rd floor, collect: (212) 834-4533 or SunTrust Robinson Humphrey, Inc., 1-800-685-4786.

Electronic copies of the prospectus supplement and accompanying prospectus are also available from the Securities and Exchange Commission’s website at www.sec.gov.

A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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