Construction Underway at 3630 Peachtree

Prime Site At Nexus Of Buckhead And Brookhaven Will Feature New Vertical Mixed-Use Project

Atlanta, GA - (July 20, 2007) - A partnership of four nationally-acclaimed developers broke ground today on 3630 Peachtree, a vertical mixed-use development combining premium Class A office space and luxury residences. The landmark project marks the first time that a quartet of Atlanta’s development leaders has worked together on a vertical mixed-use project. 3630 Peachtree is located at the corner of Peachtree Road and Peachtree- Dunwoody Road, just north of Phipps Plaza.

Underway is a 34-story tower, featuring 425,000 square feet of Class A office space, which includes 17,000 square feet of ground floor retail space, codeveloped by Pope & Land Enterprises, Inc. and Duke Realty Corp. Atop the office space will be 17 stories of luxury condominiums developed jointly by Novare Group and Post Properties.

“The premier location, stunning architecture, striking views of Atlanta and unmatched features and amenities will position 3630 Peachtree as a Buckhead focal point,” according to Larry Kelly, president of Pope & Land. Pope & Land owned the property for more than two decades prior to its sale to the development consortium in January 2006.

“The partners are committed to developing Buckhead’s finest mixed-use project at 3630 Peachtree, and we are confident that our unmatched mix of office, residential and retail offerings will complement the distinct advantages of this site,” said Kelly.

The offices and residences are expected to be ready for occupancy in mid- 2009. The new tower will be Duke Realty Corp.’s first building in Buckhead. Future plans call for an additional tower to be completed on the site at a later date.

Unmatched Architecture And Location

Located within blocks of Atlanta’s most notable residential, retail and dining districts, and boasting some of the city’s finest panoramic views, 3630 Peachtree is expected to become a sought-after address. Planned retail and restaurant amenities include a neighborhood bistro as well as convenience retail, with an exquisitely designed plaza that creates an inviting outdoor event space.

Designed by internationally renowned Handel Architects, LLP of New York and Atlanta’s own Smallwood, Reynolds, Stewart, Stewart & Associates, Inc. the exterior is clad with a striking glass curtain wall, punctuated by a crystal façade. All surfaces blend together in an interplay of light, luminosity and cool tones. The building also features a rooftop architectural pediment that will illuminate and accentuate the tower at night.

Structured parking underground and in a podium deck will accommodate both residential and office vehicles. The partners also incorporated enhancements to the adjacent Wieuca Road Baptist Church within the overall project plans, including a $7 million parking deck, a $2 million narthex and a $1 million commitment to a new playground, streetscape plantings and landscaping.

Unique Office Space And Residences

The venture is Post Properties’ first new for-sale housing community in its home city. The 137-unit residences will range in size between 1,100 and 4,600 square feet and will blend Novare’s trademark amenities and technology with Post’s flair for service, design and creative hardscapes. Home prices are expected to start in the $400,000s.

The residences of 3630 Peachtree will feature first-class quality finishes hand-selected by designer Robert Brown, complemented by superb styling and amenities. Two penthouse levels, composed of seven penthouse homes boasting an average size of 3,500 square feet, complete the layout of the tower.

About Pope & Land
Pope & Land Enterprises, Inc. specializes in developing mixed-use properties in the Southeastern United States. Headquartered in Atlanta, Pope & Land has enhanced the city’s landscape by developing some of its best-known properties. Founded in 1979, Pope & Land develops projects through various subsidiaries and partnerships of its principals, as well as an owner singularly and in joint venture with other principals and financial institutions. For more information, visit www.popeandland.com.

About Duke Realty Corporation
Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office, industrial, medical office and retail real estate. It is the largest publicly-traded, vertically-integrated office/industrial real estate company in the United States. The company owns, manages or has under development more than 113 million rentable square feet in 20 major U.S. cities. Duke Realty Corporation, which controls 7,700 acres of land for 112 million square feet of future development, also provides nationwide real estate solutions through its national development division. More information about Duke Realty Corporation is available on the Internet: www.dukerealty.com.

About Post Properties
Post Properties, founded more than 35 years ago, is one of the largest developers and operators of upscale multifamily communities in the United States. The Company’s mission is delivering superior satisfaction and value to its residents, associates, and investors, with a vision of being the first choice in quality multifamily living. Operating as a real estate investment trust (“REIT”), the Company focuses on developing and managing Post® branded resort-style garden and high density urban apartments. In addition, the Company develops high-quality condominiums and converts existing apartments to for-sale multifamily communities. Post Properties is headquartered in Atlanta, Georgia, and has operations in ten markets across the country.

Post Properties owns 21,563 apartment homes in 60 communities, including 1,351 apartment units in four communities held in unconsolidated entities, 1,181 apartment units in four communities (and the expansion of one community) currently under construction and/or in lease-up. The Company is also developing 367 for-sale condominium homes in three communities (including 137 units in one community held in an unconsolidated entity) and is converting apartment units in three communities initially consisting of 470 units (including 121 units in one community held in an unconsolidated entity) into for-sale condominium homes through a taxable REIT subsidiary.

About Novare Group
With a focus on creating great urban experiences, Novare Group Holdings, LLC is a leading developer of cutting-edge, mixed-use high-rise communities in U.S. urban markets. Since its founding in 1992, Novare Group has completed more than 3,500 condominium homes and currently has more than 3,000 condominium homes under construction. The company has also developed or acquired more than 1.1 million square feet of office space and 180,000 square feet of retail space. In 2006 Novare Group launched TWELVE® Hotels & Residences, which pairs boutique hotels with attainablypriced condominium residences. Headquartered in Atlanta, Novare Group has development projects in Atlanta, Austin, Charlotte, Nashville and Tampa. For more information, visit www.novaregroup.com.