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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                           SCHEDULE 14A INFORMATION
                   PROXY STATEMENT PURSUANT TO SECTION 14(a)
                    OF THE SECURITIES EXCHANGE ACT OF 1934
                              (AMENDMENT NO. __)

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                             Post Properties, Inc.
               (Name of Registrant as Specified in Its Charter)


   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                              [Post Properties Logo]


For Immediate Release

Contact:      Judith Wilkinson/Nina Covalesky                   PRESS RELEASE
              Joele Frank, Wilkinson Brimmer Katcher
              (212) 355-4449


                 POST PROPERTIES RESPONDS TO SHAREHOLDER SUIT

     ATLANTA, May 5, 2003 - Post Properties, Inc. (NYSE: PPS), an
Atlanta-based real estate investment trust, has been advised that a
shareholder lawsuit has been filed against the directors of Post, including
John Williams, alleging breach of fiduciary duty. The lawsuit, which also
names the Company as a nominal defendant, has been filed in the Superior Court
of Fulton County, Atlanta Georgia.

     The Company stated, "We believe the lawsuit is without merit and we
intend to vigorously defend against it. Unfortunately, litigation of this
nature is routine during hostile proxy contests. We expect it will be resolved
in due course."

Certain statements made in this press release and other written or oral
statements made by or on behalf of the Company may constitute "forward-looking
statements" within the meaning of the federal securities laws. Statements
regarding future events and developments and the Company's future performance,
as well as management's expectations, beliefs, intentions, plans, estimates or
projections relating to the future, are forward-looking statements within the
meaning of these laws. Management believes that these forward-looking
statements are reasonable; however, you should not place undue reliance on
such statements. These statements are based on current expectations and speak
only as of the date of such statements. The Company undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a
result of future events, new information or otherwise. Important risk factors
regarding the Company are included under the caption "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2002 and
may be discussed in subsequent filings with the SEC.

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Post Properties, Inc., a leading developer and operator of upscale apartment
communities in the United States, pioneered building and branding resort-style
garden apartments for more than 30 years. Post now also focuses on the
creation of high-quality, high-density, live-work-walk neighborhoods in infill
locations in major urban markets. The Company has been recognized locally,
nationally and internationally for building better neighborhoods and the
preservation of historic buildings. Operating as a self-administered and
self-managed equity real estate investment trust (REIT), the Company's primary
business consists of developing and managing Post(R) brand-name apartment
communities.

Nationwide, Post Properties owns approximately 30,080 apartment homes in 80
communities, including 1,256 units currently under development.

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