Exhibit 99 United Dominion Realty Trust, Inc. Computation of Ratio of Earnings to Fixed Charges (Dollar in thousands) Year Ended Year Ended Year Ended Year Ended Year Ended December 31, December 31, December 31, December 31, December 31, 1989 1990 1991 1992 1993 Income before extraordinary item $ 5,572 $ 4,973 $ 3,604 $ 6,577 $11,197 Add: Portion of rents representative of the interest factor 37 47 103 126 143 Interest on indebtedness 9,934 9,435 11,859 11,697 16,938 Amortization of debt expense 51 80 59 122 321 Income as adjusted $15,594 $14,535 $15,625 $18,522 $28,599 Add: Depreciation on real estate 8,762 10,464 12,845 15,732 19,764 Other depreciation and amortization 150 93 160 178 275 Other income (755) (34) (Gains)losses on investments (1,433) (417) (26) 1,564 89 Other Funds from operations as adjusted $22,318 $24,641 $28,604 $35,996 $48,727 Fixed charges- Interest on indebtedness $ 9,934 $ 9,435 $11,859 $11,697 $16,938 Amortization of debt expense 51 80 59 122 321 Capitalized interest 717 597 291 73 0 Portion of rents representative of the interest factor 37 47 103 126 143 Fixed Charges $10,739 $10,159 $12,312 $12,018 $17,402 Ratio of earnings to fixed charges 1.45x 1.43x 1.27x 1.54x 1.64x Ratio of funds from operation to fixed charges 2.08 2.43 2.32 3.00 2.80 Six Six PRO FORMA Months Months PRO FORMA Six Months Ended Ended Year Ended Ended June 30, June 30, December 31, June 30, 1993 1994 1993 1994 Income before extraordinary item $ 4,839 $ 7,482 $18,345 $ 9,968 Add: Portion of rents representative of the interest factor 68 78 155 84 Interest on indebtedness 8,387 10,474 26,923 13,998 Amortization of debt expense 152 158 321 158 Income as adjusted $13,446 $18,192 $45,744 $24,208 Add: Depreciation on real estate 9,516 12,020 27,610 14,529 Other depreciation and amortization 106 213 275 213 Other income (Gains)losses on investments 0 0 89 0 Other 450 450 Funds from operations as adjusted $23,068 $30,875 $73,718 $39,400 Fixed charges- Interest on indebtedness $ 8,387 $10,474 $26,923 $13,998 Amortization of debt expense 152 158 321 158 Capitalized interest 0 0 0 0 Portion of rents representative of the interest factor 68 78 155 84 Fixed Charges $ 8,607 $10,710 $27,399 $14,240 Ratio of earnings to fixed charges 1.56x 1.70x 1.67x 1.70x Ratio of funds from operation to fixed charges 2.68 2.88 2.69 2.77