Associated Estates Realty Corporation Declares Common Share Dividend

CLEVELAND, March 19 /PRNewswire-FirstCall/ -- Associated Estates Realty Corporation (NYSE: AEC) announced today that a quarterly dividend of $0.17 per share has been declared on the Company's common shares, payable May 1, 2008 to shareholders of record on April 11, 2008.

Associates Estates Realty Corporation is a real estate investment trust ("REIT") and is a member of the Russell 2000 Index. The Company, headquartered inRichmond Heights, Ohio, directly or indirectly owns, manages or is a joint venture partner in 67 properties containing a total of 15,066 units located in 9 states. For more information about the Company, please visit its website at www.aecrealty.com.

For more information, please contact: Michael Lawson Vice President of Investor Relations and Corporate Communications 216-797-8798 mlawson@aecrealty.com

SOURCE Associated Estates Realty Corporation