Essex Reports Characteristics of 2011 Dividend

PALO ALTO, CA--(Marketwire - Jan 17, 2012) - 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 the income tax treatment for its 2011 distributions to shareholders. The 2011 distribution characteristics are as follows:

Common Stock - CUSIP Number 297178105:

												Unrecaptured
				Cash		Ordinary						Section 1250
Record		Payment		Distribution		Taxable		Return of		Capital Gain		Capital Gain
Date		Date		Per Share		Dividend		Capital		(15% rate)		(25% rate)
1/3/2011		1/14/2011		$1.032500		$0.657556		$0.252089		$0.115223		$0.007631
3/31/2011		4/15/2011		$1.040000		$0.662333		$0.253921		$0.116060		$0.007687
6/30/2011		7/15/2011		$1.040000		$0.662333		$0.253921		$0.116060		$0.007687
9/30/2011		10/14/2011		$1.040000		$0.662333		$0.253921		$0.116060		$0.007687
		Totals:		$4.152500		$2.644554		$1.013851		$0.463404		$0.030691
		Percentages:		100%		63.6858%		24.4154%		11.1596%		0.7391%

For purposes of calculating alternative minimum taxable income under Sec. 55 of the Internal Revenue Code of 1986, the Company apportions $0.09 per common share attributable to depreciation assuming a full year of ownership.

Series F Preferred - CUSIP Number 297178204:

												Unrecaptured
				Cash		Ordinary						Section 1250
Record		Payment		Distribution		Taxable		Return of		Capital Gain		Capital Gain
Date		Date		Per Share		Dividend		Capital		(15% rate)		(25% rate)
2/15/2011		3/1/2011		$0.488280		$0.488280		$0.000000		$0.000000		$0.000000
5/13/2011		6/1/2011		$0.488280		$0.488280		$0.000000		$0.000000		$0.000000
		Totals:		$0.97656		$0.97656		$0.00000		$0.00000		$0.00000
		Percentages:		100%		100.0000%		0.0000%		0.0000%		0.0000%

Series G Preferred - CUSIP Number 297178303:

												Unrecaptured
				Cash		Ordinary						Section 1250
Record		Payment		Distribution		Taxable		Return of		Capital Gain		Capital Gain
Date		Date		Per Share		Dividend		Capital		(15% rate)		(25% rate)
1/3/2011		1/31/2011		$0.304690		$0.304690		$0.000000		$0.000000		$0.000000
4/1/2011		5/2/2011		$0.304690		$0.304690		$0.000000		$0.000000		$0.000000
7/1/2011		8/1/2011		$0.304690		$0.304690		$0.000000		$0.000000		$0.000000
10/3/2011		10/31/2011		$0.304690		$0.304690		$0.000000		$0.000000		$0.000000
		Totals:		$1.21876		$1.21876		$0.00000		$0.00000		$0.00000
		Percentages:		100%		100.0000%		0.0000%		0.0000%		0.0000%

Series H Preferred - CUSIP Number 297178402:

												Unrecaptured
				Cash		Ordinary						Section 1250
Record		Payment		Distribution		Taxable		Return of		Capital Gain		Capital Gain
Date		Date		Per Share		Dividend		Capital		(15% rate)		(25% rate)
7/1/2011		7/15/2011		$0.445310		$0.445310		$0.000000		$0.000000		$0.000000
10/3/2011		10/17/2011		$0.445310		$0.445310		$0.000000		$0.000000		$0.000000
		Totals:		$0.89062		$0.89062		$0.00000		$0.00000		$0.00000
		Percentages:		100%		100.0000%		0.0000%		0.0000%		0.0000%

The Company did not incur any foreign taxes during 2011.

Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Essex Property Trust, Inc. dividends.

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 communities 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. If you would like to receive future press releases via e-mail-please send a request to investors@essexpropertytrust.com.