Colonial Properties Trust Hosts Second Quarter 2006 Conference Call on July 27.

BIRMINGHAM, Ala. -- Colonial Properties Trust (NYSE: CLP), a diversified real estate investment trust that owns a portfolio of multifamily, office and retail properties, today announced that its second quarter 2006 earnings will be released before the market opens on Thursday, July 27.

The company will host a teleconference at 1:00 p.m. Central Time, Thursday, July, 27. Colonial Properties Trust executives will lead the call and answer questions. To participate in the conference call, please dial in to the following:

Teleconference #: 1-877-500-9123
   International #: 1-706-643-7652
   ID #: 1207214
   Date: Thursday, July 27, 2006
   Time: 1:00 p.m. Central Time (2:00 p.m. Eastern Time)
   Leader Name: Barbara Pooley

The teleconference is not expected to exceed one hour. Access the listen-only call via the Internet at www.colonialprop.com under Investor Relations: "Investors Calendar." A recording of the call will be available for seven days after the live event. To access the recording from the United States, please dial 1-800-642-1687 and enter Conference ID 1207214. For international access to the recording, please dial 1-706-645-9291 and enter Conference ID 1207214.

Colonial Properties Trust, through its subsidiaries, owns a portfolio of multifamily, office and retail properties where you live, work and shop in the Sunbelt. Colonial Properties Trust performs development, acquisition, management, leasing and brokerage services for its portfolio and properties owned by third parties. The company has a total market capitalization of approximately $5.5 billion. As of March 31, the company owns or manages 43,937 apartment units, 20.3 million square feet of office space and 11.6 million square feet of retail shopping space. Headquartered in Birmingham, Ala., Colonial Properties 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, visit www.colonialprop.com