Post Properties Announces Executive Departure

ATLANTA, GA-- Post Properties, Inc. (NYSE: PPS) announced today that, as part of an overall restructuring intended to streamline its business and reduce costs, Thomas L. Wilkes, (top right  photo) President of Post Apartment Management and EVP of Post Properties, Inc., will leave the Company, effective December 31, 2009.

Mr. Wilkes’ responsibilities will be assumed by S. Jamie Teabo, SVP Property Management, and Charles A. Konas, EVP Construction/ Development. Both Ms. Teabo and Mr. Konas have substantial industry and company experience.

 Post expects to incur a charge in the fourth quarter related to settling its contractual obligations with Mr. Wilkes and in connection with the overall restructuring.

 Post Properties CEO David P. Stockert (bottom left photo)  said, “With his background in multifamily real estate and commitment to the business, Tom Wilkes has made substantial contributions to Post over many years. We appreciate his accomplishments on behalf of the Company and wish him every continued success.”

Contacts: Post Properties, Inc., David P. Stockert, 404-846-5000