Cornerstone Realty Second Quarter 2003 Earnings Conference Call.

Business Editors

RICHMOND, Va.--(BUSINESS WIRE)--July 7, 2003

Cornerstone Realty Income Trust, Inc. (NYSE:TCR) will hold its quarterly conference call to discuss second quarter results on Wednesday, August 6, 2003, at 11:00 a.m. Eastern Time (10 a.m. Central Time).

This call is being webcast by CCBN and can be accessed at Cornerstone Realty's web site at www.cornerstonereit.com.

The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (www.streetevents.com).

About Cornerstone Realty

Cornerstone Realty Income Trust, Inc. is a fully integrated, self-managed and self-advised real estate company that has operated as a real estate investment trust (REIT) since 1993. The company focuses on the ownership and management of multifamily communities in select markets in Virginia, North Carolina, South Carolina, Georgia and Texas. Currently Cornerstone owns 89 apartment communities with 23,189 units. Cornerstone is headquartered in Richmond, Va. and its common stock trades on the New York Stock Exchange under the symbol TCR. For more information about Cornerstone, visit the company's web site at www.cornerstonereit.com.