Essex Property Trust Declares Quarterly Distributions

PALO ALTO, CA--(Marketwire - May 31, 2011) - Essex Property Trust, Inc., (NYSE: ESS) a real estate investment trust (REIT) that invests in apartment communities located in highly desirable, supply-constrained markets, announced today that its Board of Directors has declared a regular quarterly cash dividend of $1.04 per common share, payable July 15, 2011 to shareholders of record as of June 30, 2011.

The Board of Directors has also declared regular quarterly distributions for its preferred share issuances as follows:

Essex Property Trust, Inc., located in Palo Alto, California and traded on the New York Stock Exchange (ESS), is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast communities. Essex currently has ownership interests in 150 multifamily properties with an additional 4 properties in various stages of development. Additional information about Essex can be found on the Company's web site at www.essexpropertytrust.com.