"Our team has worked very hard during the last 10 years to build a truly outstanding company that values each and every individual. The recognition as one of America's Top 50 Employers for Minorities by Fortune is very gratifying to us, because of the value we place on every one of our associates and customers," said R. Scot Sellers, chairman and chief executive officer. "One of our core values is camaraderie, and we enjoy building relationships with all of our associates, regardless of position or background. Frankly, we just enjoy having fun together, and doing our very best to provide great service to our customers."

Fortune polled FORTUNE 1000 companies and the 200 largest privately held U.S. corporations, who were asked comprehensive questions on topics ranging from compensation, managerial diversity, board of director composition, workforce composition and CEO commitment to diversity. The publication's rankings were derived from a model that weight data-driven information such as the percentage of board members, management members and new hires who are minorities.

Archstone-Smith (NYSE: ASN) is a recognized leader in apartment investment and operations. With a current total market capitalization of $14.7 billion, Archstone-Smith owns and operates an irreplaceable portfolio of high-rise and garden apartment communities concentrated in many of the most desirable neighborhoods in the Washington, D.C. metropolitan area, Southern California, the San Francisco Bay area, the New York City metropolitan area, Boston, Southeast Florida, Chicago and Seattle. The company continually upgrades the quality of its portfolio through the selective sale of assets, using proceeds to fund investments with even better growth prospects. Through its two brands, Archstone and Charles E. Smith, Archstone-Smith strives to provide great apartments and great service to its customers - backed by unconditional service guarantees. As of September 27, 2005, 2005, Archstone-Smith owned or had an ownership position in 253 communities, representing 86,937 units, including units under construction.

Archstone-Smith, an S&P 500 company, was recognized as one of America's Most Admired Companies for 2004 by Fortune Magazine and ranks 991 on the Forbes 2000 List, the magazine's comprehensive ranking of the world's largest companies, for 2005. To find out more, visit ArchstoneSmith.com or ArchstoneApartments.com.