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Associated Estates Realty Corp., 9 3/4% Dep Shares Preferred Shares A
Ticker Symbol: AEC-A*     CUSIP: 045604303     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 1/06/2005

Security has been Called for:  Thursday, January 6, 2005

Dec. 6, 2004 -- Associated Estates Realty Corporation announced today its intention to redeem all outstanding shares of its 9.75% Class A Preferred Shares on or about January 6, 2005, subject to completion of a new offering of Class B Preferred Shares. The 9.75% Class A Preferred Shares, aggregating $56.3 million, will be redeemed at a redemption price of $250.00 per share (equivalent to $25.00 per depositary share) plus an amount equal to accrued and unpaid dividends after December 15, 2004 up to and including the redemption date. After the redemption date, the Class A Preferred Shares will no longer be outstanding, and holders of the 9.75% Class A Preferred Shares will have only the right to receive payment of the redemption price in exchange for their Class A certificates. The Company intends to redeem all of the 9.75% Class A Preferred Shares from proceeds of a $58 million offering of Class B Series II Cumulative Redeemable Preferred Shares. The net effect of the issuance of the Class B Preferred Shares and the redemption of the Class A Preferred Shares will be a negative impact to net income applicable to common shares and funds from operations ("FFO") per share of approximately $0.01 in the fourth quarter of 2004.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Associated Estates Realty Corp., Depositary Shares each representing 1/10 of a share of 9 3/4% Class A Cumulative Redeemable Preferred Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 7/25/2000 at $25 per share plus accrued and unpaid dividends, with no stated maturity, and with distributions of 9 3/4% per annum paid quarterly on 3/15, 6/15, 9/15 & 12/15.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
9.75%
$2.4375
$25.00
$25.00
Called for
1/06/2005

None
B3 CCC+
7/02/2004
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Go to Parent Company's Record (AEC)

IPO - 7/25/1995 - 2.00 Million Shares @ $25.00/share.
Market Value $56.0 Million

Company's Online Information Links
HOME PAGE:     http://www.aecrealty.com/
Company's Investor Relations Information Go to Investor Relations Information
Company's Online News Releases Go to News Releases
Online Company Profile Go to Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Go to SEC Filings

Company's Email Address Links
Email Address IR@aecrealty.com
Email Request Form on Website Go to Email Form

Address and Phone Numbers
Address:   5025 Swetland Court, Richmond Heights, OH 44143
Main Phone Number 216-261-5000
Fax Number 216-289-9600
Investor Relations   Barbara Hasenstab 216-797-8798
Toll Free Phone Number 800-440-2372
CEO - Jeffrey I. Friedman CFO - Lou Fatica

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