Essex Property Trust Declares Quarterly Distributions

PALO ALTO, CA--(Marketwire - June 15, 2010) -  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 $1.0325 per common share, payable July 15, 2010 to shareholders of record as of June 30, 2010.

The Board of Directors declared quarterly distributions of $0.48828 and $0.30469 per share on its 7.8125% Series F Cumulative Redeemable Preferred Shares and its 4.875% Series G Cumulative Convertible Preferred shares, respectively. Distributions for the 7.8125% Series F Cumulative Redeemable Preferred shares are payable on September 1, 2010 to shareholders of record as of August 13, 2010. Distributions for the 4.875% Series G Cumulative Convertible Preferred shares are payable on August 2, 2010 to shareholders of record as of July 1, 2010.

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 133 multifamily properties with an additional 5 properties in various stages of development. Additional information about Essex can be found on the Company's web site at www.essexpropertytrust.com.

Contact Information:

Nicole Culbertson
(650) 849-1649