Colonial Properties Trust Announces 2007 Dividend Tax Treatment

BIRMINGHAM, Ala.--(Business Wire)--Colonial Properties Trust (NYSE: CLP), a real estate investment
trust (REIT) announced today the income allocations of the company's
2007 dividend distributions on its common stock and preferred stock.
Shareholders are encouraged to consult with their personal tax
advisors as to their specific tax treatment of Colonial Properties
Trust distributions. The final income allocations as they will be
reported on Form 1099-DIV are as follows:

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Common Shares (CUSIP # 195872106)
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Ex-Dividend Record Payable Distribution Ordinary Return of
Date Date Date per Share Income Capital
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2/2/2007 2/6/2007 2/13/2007 $0.68 $0.1427468 $0.0000000
5/3/2007 5/7/2007 5/14/2007 $0.68 $0.0305002 $0.0000000
6/18/2007 6/14/2007 6/27/2007 $8.08 $0.2855906 $1.7127681
6/21/2007 6/19/2007 6/27/2007 $2.67 $0.0943721 $0.5659766
8/2/2007 8/6/2007 8/13/2007 $0.68 $0.0218595 $0.1926432
11/2/2007 11/6/2007 11/13/2007 $0.50 $0.0160732 $0.1416494
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Totals $13.29 $0.5911424 $2.6130373
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Ex-Dividend Record Unrecaptured
Date Date Payable Date Capital Gain Sec 1250 Gain
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2/2/2007 2/6/2007 2/13/2007 $0.4587250 $0.0785282
5/3/2007 5/7/2007 5/14/2007 $0.4546805 $0.1948193
6/18/2007 6/14/2007 6/27/2007 $4.2574356 $1.8242057
6/21/2007 6/19/2007 6/27/2007 $1.4068506 $0.6028007
8/2/2007 8/6/2007 8/13/2007 $0.3258700 $0.1396273
11/2/2007 11/6/2007 11/13/2007 $0.2396103 $0.1026671
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Totals $7.1431720 $2.9426483
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Preferred Series D (CUSIP # 195872403 / 195872502)
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Ex-Dividend Distribution Ordinary
Date Record Date Payable Date per Share Income
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1/11/2007 1/15/2007 1/31/2007 $0.5078125 $0.1066009
4/12/2007 4/16/2007 4/30/2007 $0.5078125 $0.0227770
7/12/2007 7/16/2007 7/31/2007 $0.5078125 $0.0227770
10/11/2007 10/15/2007 10/31/2007 $0.5078125 $0.0227770
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Totals $2.03125 $0.1749319
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Ex-Dividend Unrecaptured
Date Record Date Payable Date Capital Gain Sec 1250 Gain
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1/11/2007 1/15/2007 1/31/2007 $0.3425681 $0.0586435
4/12/2007 4/16/2007 4/30/2007 $0.3395477 $0.1454878
7/12/2007 7/16/2007 7/31/2007 $0.3395477 $0.1454878
10/11/2007 10/15/2007 10/31/2007 $0.3395477 $0.1454878
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Totals $1.3612112 $0.4951069
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Preferred Series E (CUSIP # 195872700 / 195872601)
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Ex-Dividend Distribution
Date Record Date Payable Date per Share Ordinary Income
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3/13/2007 3/15/2007 4/2/2007 $0.47625 $0.0999753
Redeemed May 30, 2007
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Totals $0.47625 $0.0999753

Ex-Dividend Unrecaptured
Date Record Date Payable Date Capital Gain Sec 1250 Gain
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3/13/2007 3/15/2007 4/2/2007 $0.3212761 $0.0549986
Redeemed May 30, 2007
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Totals $0.3212761 $0.0549986
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About Colonial Properties Trust

Colonial Properties Trust is a multifamily real estate investment
trust (REIT) that creates additional value for its shareholders
through the development and management of mixed-use and commercial
projects. As of September 30, 2007, the company owned or managed
39,046 apartment units, 16.5 million square feet of office space and
7.6 million square feet of retail shopping space located in key
Sunbelt states from Virginia to California. Headquartered in
Birmingham, Ala., Colonial Properties Trust is listed on the New York
Stock Exchange under the symbol CLP and is included in the S&P
SmallCap 600 Index. For more information, please visit the company's
website at www.colonialprop.com.

Safe Harbor Statement

"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and involve known and
unknown risks, uncertainties and other factors that may cause the
company's actual results, performance, achievements or transactions to
be materially different from the results, performance, achievements or
transactions expressed or implied by the forward looking statements.
Factors that impact such forward looking statements include, among
others, real estate conditions and markets; performance of affiliates
or companies in which we have made investments; legislative or
regulatory decisions; our ability to continue to maintain our status
as a REIT for federal income tax purposes; the effect of any rating
agency action; the cost and availability of new debt financings; level
and volatility of interest rates or capital market conditions; effect
of any terrorist activity or other heightened geopolitical crisis; or
other factors affecting the real estate industry generally.

Except as otherwise required by the federal securities laws, the
company assumes no responsibility to update the information in this
press release.

The company refers you to the documents filed by the company from
time to time with the Securities and Exchange Commission, specifically
the section titled "Risk Factors" in the company's Annual Report on
Form 10-K for the year ended December 31, 2006, as may be updated or
supplemented in the company's Form 10-Q filings, which discuss these
and other factors that could adversely affect the company's results.

Colonial Properties Trust
Jerry A. Brewer
Senior Vice President, Corporate Treasury
800-645-3917

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