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Essex Property Trust Inc. Files Shelf Registration.

PALO ALTO, Calif.--(BUSINESS WIRE)--March 7, 1996--Essex Property Trust Inc. ("Essex")(NYSE:ESS) announced today that it filed a shelf registration statement with the Securities and Exchange Commission (the "SEC") for up to $100 million of shares of common stock, preferred stock, depositary shares representing preferred stock and warrants to purchase shares of common and preferred stock.

The company plans to use the proceeds from any public offering of such securities for general corporate purposes, including funding acquisition and development activities and the repayment of indebtedness. A copy of the registration statement may be obtained from Wendy Carhart, investor services manager, Essex Property Trust Inc., 777 California Ave., Palo Alto, Calif. 94304.

Essex Property Trust Inc. is a fully integrated real estate operating company. Self-administered and self-managed, Essex focuses on multifamily residential properties in the San Francisco, Seattle, and Portland metropolitan areas, and selected Southern California markets. Essex has ownership interests in 23 multi-family properties (4,868 units), accounting for approximately 89% of its revenue.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

CONTACT: Essex Property Trust Inc.

Michael J. Schall/Mark J. Mikl/Wendy Carhart, 415/494-3700
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Publication:Business Wire
Date:Mar 7, 1996
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