Equity Residential Declares Fourth Quarter 2013 Dividends

  Equity Residential Declares Fourth Quarter 2013 Dividends

                    2013 Dividend Increases 3.9% over 2012

                       Adjusts Dividend Policy for 2014

Business Wire

CHICAGO -- December 17, 2013

Equity Residential (NYSE: EQR) today announced that its Board of Trustees
declared dividends on the company’s common and preferred shares. A common
share dividend for the fourth quarter of $0.65 per share will be paid on
January 10, 2014 to shareholders of record on December 27, 2013. This dividend
will bring the total paid for the year to $1.85 per share, a 3.9% increase
over the company’s previous annual dividend of $1.78 per share. The $1.85 per
share equals approximately 65% of the company’s currently estimated Normalized
Funds from Operations (Normalized FFO) for 2013.

In addition, the company announced that beginning in 2014 its annual dividend
will be paid quarterly in four equal installments based on 65% of the midpoint
of the range of Normalized FFO guidance customarily provided in early February
as part of the company’s fourth quarter earnings release. All future dividends
remain subject to the discretion of the company’s Board of Trustees.

The company also announced that a quarterly dividend of $1.03625 per share
will be paid on December 31, 2013 to shareholders of record on December 20,
2013 of the company’s Series K Preferred Shares.

Equity Residential is an S&P 500 company focused on the acquisition,
development and management of high quality apartment properties in top U.S.
growth markets. Equity Residential owns or has investments in 388 properties
consisting of 109,465 apartment units. For more information on Equity
Residential, please visit our website at www.equityapartments.com.


Equity Residential
Marty McKenna, (312) 928-1901
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