n e w s

FOR IMMEDIATE RELEASE
03.03.05



Contacts: Barbara M. Pooley, Senior Vice President - Investor Relations, 704.376.1774 Bo Jackson, Executive Vice President - Office Division, 678.461.3303

COLONIAL PROPERTIES TRUST
ACQUIRES RESEARCH PARK OFFICE CENTER IN BIRMINGHAM

BIRMINGHAM, Ala., (March 3, 2005) - Colonial Properties Trust (NYSE: CLP) announced today the purchase of a four-building office complex, Research Park Office Center in Huntsville, Alabama. Colonial Properties' acquisition of this 236,400-square-foot office complex increases the company's Huntsville portfolio to more than 1.5 million square feet, securing its position as the dominant commercial landlord in the city. Colonial Properties now owns more than 12 percent of the total Huntsville office market, which is heavily weighted toward technology and defense-related industries.

Colonial Properties acquired the buildings, located on Old Madison Pike, from Progress Partners LLC. The four one-story office buildings, which were built in 1999 and are adjacent to Cummings Research Park, include technology and research clients.

"The clients in this office complex are the leaders in their respective fields who favor their strategic location to the Marshall Space Flight Center and Redstone Arsenal," said Kyle Collins, Colonial Properties Market Officer in Huntsville. "Further, they are able to enjoy the convenient access to Cummings Research Park, the second largest research park in the country and the fourth largest in the world, with more than 3,800 acres and 8.5 million square feet of office space."

Colonial Properties Trust is a diversified REIT that, through its subsidiaries, owns a portfolio of multifamily, office and retail properties where you live, work and shop in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Virginia, Tennessee, Texas, Arizona, Nevada and New Mexico. Colonial Properties Trust performs development, acquisition, management, leasing and brokerage services for its portfolio and properties owned by third parties. Colonial Properties Trust is a diversified REIT, which has a total market capitalization in excess of $3.5 billion. The foundation of Colonial Properties' success is its live, work and shop diversified investment strategy. The Company manages or leases 29,100 apartment units, 6.8 million square feet of office space and 15.6 million square feet of retail shopping space.   In 2003, the National Association of Industrial and Office Properties (NAIOP) named Colonial Properties Trust "National Developer of the Year." Additional information on Colonial Properties Trust is available on the Internet www.colonialprop.com. The Company, headquartered in Birmingham, Ala., is listed on the New York Stock Exchange under the symbol "CLP" and is included in the S&P SmallCap 600 Index.

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