BRE Properties Announces Dates for Fourth Quarter 2001 Earnings Release and Conference Call; Conference Call Is Open to the Public and Webcast on the Internet.

SAN FRANCISCO -- BRE Properties, Inc., today announced its fourth quarter 2001 earnings will be released at close of market on Thursday, January 17, 2002. A conference call led by BRE President and CEO Frank C. McDowell will be held the following day, Friday, January 18, at 8:30 a.m. PDT (11:30 a.m. EDT).

BRE's quarterly conference calls are open to the public and webcast live at http://www.breproperties.com/. During the call, McDowell and BRE's executive officers will review the company's fourth quarter and year 2001 operating results, and guidance for 2002. Management comments will last about 20 minutes, followed by a Q&A session.

Participation & Registration

To Participate in Telephone Conference Call-Contact Jason Morgan at 415-445-6550 or [e-mail]. Reservations will be accepted before 1:00 p.m. PDT (4:00 p.m. EDT), January 17. BRE takes reservations to ensure an adequate number of phone lines are available for all investors.

To Participate in Live Webcast -- The webcast can be accessed on the Presentations page in the Shareholder section of http://www.breproperties.com/. Email questions will be taken during the call. Listeners should go to the web site at least 10 minutes early to register and install any necessary audio software.

Replays

Telephone -- A recording will be available two hours after the call at 888-568-0116 (402-530-7787 International) until Friday, February 1, 2002. (No passcode is required.)

Internet -- An audio archive of the webcast will be available on the BRE web site two hours after the conference call until February 18.

Full Text of the Earnings Report and Supplemental Data

Internet -- The full text of the earnings report and supplemental data will be available immediately after the release on January 17 in the Shareholder section of BRE's web site.

Mail -- All BRE earnings releases and supplemental data are available by mail or fax, on request. Please call BRE Investor Relations at 415-445-6550.

Recent disclosure and investor information are available on the BRE web site: http://www.breproperties.com/.

About BRE Properties

BRE Properties -- a real estate investment trust-develops, acquires and manages apartment communities convenient to its Customers' work, shopping, entertainment and transit in supply-constrained Western U.S. markets. BRE directly owns and operates 72 apartment communities totaling 20,419 units in California, Arizona, Washington, Oregon, Utah and Colorado. The company currently has 11 other apartment communities in various stages of development and construction, totaling 2,573 units, and joint venture interests in three additional apartment communities, totaling 780 units. Additional information about BRE is available at http://www.breproperties.com/.

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Contact: investors, Edward F. Lange, Jr., EVP, Chief Financial Officer, [phone], or media, Tom Mierzwinski, Director of Communications, [phone], both of BRE Properties, Inc.

Website: http://www.breproperties.com/