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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                           SCHEDULE 14A INFORMATION
                   PROXY STATEMENT PURSUANT TO SECTION 14(a)
                    OF THE SECURITIES EXCHANGE ACT OF 1934
                              (AMENDMENT NO. __)

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                             Post Properties, Inc.
               (Name of Registrant as Specified in Its Charter)


   (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                            [Post Properties Logo]


For Immediate Release

Contact:      Judith Wilkinson/Nina Covalesky                   PRESS RELEASE
              Joele Frank, Wilkinson Brimmer Katcher
              (212) 355-4449


                     POST PROPERTIES RESPONDS TO WILLIAMS
                   ANNOUNCEMENT REGARDING HIS CEO DESIGNATE

ATLANTA, May 5, 2003 - Post Properties, Inc. (NYSE: PPS), an Atlanta-based
real estate investment trust, issued the following statement in response to
this morning's announcement by John Williams that he has picked Edward
Lowenthal as his CEO designate should he prevail in his proxy contest:

         Mr. Williams' announcement regarding Mr. Lowenthal confirms our view
         that the prospect of Mr. Williams returning as CEO has been viewed
         very negatively by shareholders. We doubt that Mr. Williams'
         announcement will fool anyone. We find it hard to believe that Mr.
         Williams is spending more than $6.3 million on this proxy contest
         with an expectation that Mr. Lowenthal would act independently of
         him. This is the John Williams show - start to finish. When Mr.
         Williams praises Mr. Lowenthal as the right person for the job, keep
         in mind that this is exactly what he said about Dave Stockert when
         Mr. Stockert succeeded him as CEO last summer.


                                    -more-

                                      -2-

Certain statements made in this release and other written or oral statements
made by or on behalf of the Company may constitute "forward-looking
statements" within the meaning of the federal securities laws. Statements
regarding future events and developments and the Company's future performance,
as well as management's expectations, beliefs, intentions, plans, estimates or
projections relating to the future, are forward-looking statements within the
meaning of these laws. Management believes that these forward-looking
statements are reasonable; however, you should not place undue reliance on
such statements. These statements are based on current expectations and speak
only as of the date of such statements. The Company undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a
result of future events, new information or otherwise. Important risk factors
regarding the Company are included under the caption "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2002 and
may be discussed in subsequent filings with the SEC.

Post Properties, Inc., a leading developer and operator of upscale apartment
communities in the United States, pioneered building and branding resort-style
garden apartments for more than 30 years. Post now also focuses on the
creation of high-quality, high-density, live-work-walk neighborhoods in infill
locations in major urban markets. The Company has been recognized locally,
nationally and internationally for building better neighborhoods and the
preservation of historic buildings. Operating as a self-administered and
self-managed equity real estate investment trust (REIT), the Company's primary
business consists of developing and managing Post(R) brand-name apartment
communities.

Nationwide, Post Properties owns approximately 30,080 apartment homes in 80
communities, including 1,256 units currently under development.

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