Essex Property Trust Declares Quarterly Distributions

PALO ALTO, CA--(Marketwire - Dec 13, 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 January 13, 2012 to shareholders of record as of January 3, 2012.

The Board of Directors declared quarterly distributions of $0.30469 and $0.44531 per share on its 4.875% Series G Cumulative Convertible Preferred Shares and its 7.125% Series H Cumulative Redeemable Preferred Shares, respectively. Distributions for the 4.875% Series G Cumulative Convertible Preferred shares are payable on January 31, 2012 to shareholders of record as of January 3, 2012. Distributions for the 7.125% Series H Cumulative Redeemable Preferred shares are payable on January 13, 2012 to shareholders of record as of January 3, 2012.

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 155 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.